Wire & Cable EBITDA Margin Target: 10.5% by FY28
Management targets 100bps annual EBITDA margin improvement, reaching double-digit 10.5% margins in wire and cable by FY28, implying ~8.5% for FY26 annual guidance.
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R R Kabel · forward-looking guidance across the available source record.
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margins
FMG Break-even in Q4 FY26
FMG segment losses reduced to ₹5 crore in Q3 with management confident of achieving break-even at EBIT level in Q4 FY26, marking turnaround from ongoing losses.
FMG EBIT Margin Target: 5-6% by FY28
With break-even expected this quarter, management projects FMG margins will expand to 5-6% by FY28 as scale improves and portfolio rationalization continues.
Industry Growth Outlook: 14-15% Volume Growth
Management maintains industry volume growth expectation at 14-15% (double GDP growth of 7-8%), with RR Kabel tracking ahead at 17-18% volume growth for 9M FY26.
W&C Volume CAGR of 16-18%
Management reaffirmed Project Rise target of 16-18% volume CAGR in wires and cables over three years, with FY27 expected to be within this range.
W&C Segment Margin of 9.5% in FY27
Targeting 9.5% EBITDA margin for wires and cables in FY27, part of a 300 bps improvement plan by FY28.
FMEG Breakeven in FY27
FMEG segment expected to achieve breakeven in FY27, after delays due to weather and input cost volatility.
Capex of ₹1,200 Cr for FY26-28
Capex program on track; ₹300-350 Cr invested in FY26, with major spending in FY27 to expand cable capacity up to 220 kV.