India’s cable and wire industry is expected to post 28-30 percent revenue growth in FY27, backed by strong investments across power, infrastructure and renewable energy projects.
According to Crisil, projects worth Rs 10-12 lakh crore are expected to drive demand for cables and wires. Rising electricity consumption, transmission network expansion and growing investments in data centres are also supporting the outlook.
Organized players are expected to continue gaining market share. Manufacturers are projected to achieve volume growth of around 10 percent while passing on higher raw material costs.
Here are five listed companies that are well placed to benefit from the sector’s growth.
1. Polycab India Ltd
Polycab India is the country’s largest wire and cable manufacturer and also has a presence in the fast-moving electrical goods segment.
Its product portfolio includes:
- Power cables
- Control cables
- Solar cables
- Switches
- Fans
- Lighting products
The company is pursuing expansion under its Project Spring strategy.
Key plans include:
- Manufacturing expansion
- Distribution network strengthening
- Capacity additions
Polycab spent nearly Rs 1,480 crore in FY26 and is expected to maintain elevated capital expenditure levels to support domestic demand, exports and market share gains.
2. KEI Industries Ltd
KEI Industries has a presence across extra-high-voltage, medium-voltage and low-voltage cables.
Its products cater to:
- Infrastructure
- Power
- Industrial projects
- Residential demand
- Export markets
The company plans to invest around Rs 700 crore over the next few years.
The proposed spending is aimed at expanding manufacturing facilities and increasing production capacity across cable and wire businesses.
3. R R Kabel Ltd
R R Kabel manufactures wires, cables and electrical products.
Its portfolio covers:
- Wires and cables
- Switches
- Lighting products
- Fans
- Other electrical solutions
The company has indicated plans to invest around Rs 1,200 crore over the medium term.
The investment will be directed towards:
- Capacity expansion
- Operational efficiencies
- Strengthening domestic and export businesses
4. Finolex Cables Ltd
Finolex Cables has operations in electrical cables, communication cables and consumer electrical products.
The company serves several segments, including:
- Construction
- Telecom
- Industrial markets
- Infrastructure projects
It is investing in:
- Cable production capacity
- Optical fibre infrastructure
- Consumer electrical businesses
The company aims to tap opportunities emerging from telecom expansion, data centres, renewable energy projects and infrastructure spending.
5. Havells India Ltd
Havells India has a diversified electrical products portfolio that includes cables and wires, switchgear, lighting products and consumer durables.
During FY26, the company incurred capital expenditure of around Rs 1,484 crore.
A significant portion of the spending went towards:
- Cable capacity expansion
- Refrigerator manufacturing
Strong demand for power cables and infrastructure projects supported growth in the cables business during the year.
Industry outlook
Crisil expects large investments in several areas to support the industry’s growth in FY27.
Major demand drivers include:
- Power infrastructure
- Renewable energy projects
- Smart metering
- Railways
- Urban development
- Transmission networks
- Data centres
Companies with strong brands, established distribution networks and expansion plans are expected to be among the key beneficiaries of the sector’s projected growth.
TL;DR:
India’s cable and wire industry is expected to grow 28-30 percent in FY27, according to Crisil. Polycab India, KEI Industries, R R Kabel, Finolex Cables and Havells India are among the listed companies positioned to benefit from rising infrastructure and power-related investments.
AI Summary
- Crisil expects the cable and wire industry to grow 28-30 percent in FY27.
- Investments worth Rs 10-12 lakh crore are expected to drive demand.
- Rising power consumption and data centre investments are supporting growth.
- Polycab, KEI Industries, R R Kabel, Finolex Cables and Havells India are expanding capacities.
- Organized players are expected to continue gaining market share.
