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Revenue
₹2,964.1 Cr
verified against source
Revenue YoY
33.7%
reported change
EBITDA
₹263.5 Cr
latest reported figure
Source
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record provenance
Actual signal trajectory
Where this quarter sits.
Quarter read
What the record says.
RR Kabel delivered a strong Q4 FY26 with revenue of ₹2,964.1 Cr (+33.7% YoY) and EBITDA of ₹263.5 Cr (+34.6% YoY), driven by robust wires & cables demand across domestic and export markets. The W&C segment grew 36.3% YoY, while FMEG revenue rose 13.8% YoY with losses narrowing. Management reiterated its Project Rise targets of 16-18% volume CAGR in W&C and 25% CAGR in FMEG, aiming for 9.5% W&C margins in FY27 and FMEG breakeven by FY27. The ₹1,200 Cr capex plan is on track, with cable capacity additions every six months. Key risk: prolonged Middle East disruption could impact ~12% of revenue from that region, though management expects mitigation via other geographies.
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Guidance to track
- 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.
- Targeting 9.5% EBITDA margin for wires and cables in FY27, part of a 300 bps improvement plan by FY28.
- FMEG segment expected to achieve breakeven in FY27, after delays due to weather and input cost volatility.
- Capex program on track; ₹300-350 Cr invested in FY26, with major spending in FY27 to expand cable capacity up to 220 kV.
Risks flagged
- Prolonged geopolitical tensions in the Middle East could impact ~12% of total revenue, as exports to the region were disrupted in March and continue into April.
- Volatile copper, aluminum, and PVC prices create uncertainty in margins; pricing actions are continuous but may lag.
- FMEG breakeven target slipped from FY26 to FY27 due to weak demand and input cost pressures; further delays possible if conditions worsen.
- Q4 benefited from positive inventory gains; if copper prices stabilize, margin expansion may slow, making it harder to hit 9.5% target.
Key quotes
- We delivered our highest ever quarterly and annual revenue supported by steady demand and disciplined execution across the business.
- Our wires and cable business remain the key growth driver for the company and delivered a strong performance and record of profitability during the quarter and for the full year.
- We remain on track towards these targets through focused execution.
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