R R Kabel Ltd — Q4 FY26 earnings call
Summary generated by AI from the official transcript R R Kabel Ltd filed with BSE on 08 May 2026. Every statement cites a verbatim quote from that document — open any citation to read it. This is a record of what management said, not a recommendation. How we check these summaries
The short read
R R Kabel reported its highest ever quarterly and annual revenue, with Q4 FY26 revenue up 33.7% year-on-year to Rs 2,964.1 crore, driven primarily by the Wires & Cables segment across domestic and export markets. EBITDA and PAT for the quarter grew 34.6% and 30.1% year-on-year respectively, while management noted raw material price volatility, currency movement and freight costs added pressure during the period. Management also discussed Middle East export disruption due to geopolitical tension, delayed FMEG breakeven now targeted for FY27, and progress on a Rs 1,200 crore capex program for cable and wire capacity expansion.
Numbers mentioned
Revenue: Rs 2,964.1 crores (Q4 FY26)
p. 4
“Revenue for Q4 2026 stood at INR2,964.1 crores, up 33.7% year-on-year.”
Rajesh Jain, page 4 of the filed PDF · View the filing
Revenue: Rs 9,722.4 crores (FY26)
p. 4
“Full-year revenue stood at INR9,722.4 crores, reflecting growth of 27.6% over the previous year.”
Rajesh Jain, page 4 of the filed PDF · View the filing
EBITDA: Rs 263.5 crores (Q4 FY26)
p. 4
“EBITDA for the quarter stood at INR263.5 crores, up 34.6% year-on-year, while PAT stood at INR168 crores, up 30.1% year-on-year.”
Rajesh Jain, page 4 of the filed PDF · View the filing
PAT: Rs 492.2 crores (FY26)
p. 4
“For the full-year, EBITDA stood at INR789.1 crores, up 61.8% year-on-year, and PAT stood at INR492.2 crores, up 58% year-on-year.”
Rajesh Jain, page 4 of the filed PDF · View the filing
Wires and Cable segment revenue: Rs 2,666.4 crores (Q4 FY26)
p. 5
“Revenue for wire and cable in Q4 FY26 stood at INR2,666.4 crores as compared to INR1,956.2 crores in Q4 FY25, growing 36.3% year-on-year.”
Rajesh Jain, page 5 of the filed PDF · View the filing
FMEG segment revenue: Rs 297.7 crores (Q4 FY26)
p. 5
“In the FMEG segment, revenue for the quarter stood at INR297.7 crores as compared to INR261.6 crores in Q4 2025, with growth of 13.8% year-on-year.”
Rajesh Jain, page 5 of the filed PDF · View the filing
Dividend per share: Rs 9.50 (FY26)
p. 3
“it pleases me to announce that the Board of Directors of the Company has approved a dividend of INR5.50 per share, taking the total dividend to INR9.50 per share for FY '26.”
Mahendrakumar Kabra, page 3 of the filed PDF · View the filing
Wire and cable segment share of revenue: 90% (FY26)
p. 5
“In FY26, 90% of our revenue was generated from this segment, while the FMEG segment contributed the remaining 10%.”
Rajesh Jain, page 5 of the filed PDF · View the filing
Wire and cable volume growth: around 16% (FY26)
p. 10
“Full year it is around 16%.”
Rajesh Jain, page 10 of the filed PDF · View the filing
Wire and cable EBIT margin improvement: 130 basis points (FY26)
p. 7
“if you see currently already we are on track. We have achieved the almost 130 basis points improvement in margin.”
Rajesh Jain, page 7 of the filed PDF · View the filing
Wire versus cable revenue mix: 73% wire / 27% cable (FY26)
p. 15
“This year my mix was around 73% in wire and 27% in cable.”
Rajesh Jain, page 15 of the filed PDF · View the filing
Middle East contribution to wire and cable exports: around 40% (FY26)
p. 13
“Normally, if I say, out of our total wire and cable business, 30% is our export, and within that, we have almost 40% is export to Middle East side.”
Rajesh Jain, page 13 of the filed PDF · View the filing
What management said it would do
A record of statements made on the call, in the words management used. Parakho does not forecast, endorse or assess them, and their presence here is not a view on whether they will happen.
Wire and cable volume growth — 16%-18% CAGR · 3-year roadmap under Project RRise
stated firmly by Rajesh Jain
p. 10
“In wire and cable, already like we have projected a volume growth of around 18% on CAGR basis, and we are on track like in this year also we achieved on my targeted number also. Next year also, we are quite hopeful to achieve our targeted figures of 16%-18% volume growth.”
Rajesh Jain, page 10 of the filed PDF · View the filing
FMEG value growth — 20%-25% · FY27
stated conditionally by Rajesh Jain
p. 11
“It seems, in this year, if everything remains same then, we are targeting value growth of around 20%-25% in FMEG business.”
Rajesh Jain, page 11 of the filed PDF · View the filing
Wire and cable EBIT margin — 9.5% · FY27
stated firmly by Rajesh Jain
p. 16
“when we say that from in three years our margins will improve by 300 basis points and if you see last year already we have done 130 basis points, still, like, we are guiding for 9.5% for FY2027.”
Rajesh Jain, page 16 of the filed PDF · View the filing
Wire and cable EBIT margin — 10.5% · FY28
stated as an aspiration by Rajesh Jain
p. 7
“Even going forward, we are like quite positive to achieve our target of 10.5% EBIT margins in wire and cable segment by FY28.”
Rajesh Jain, page 7 of the filed PDF · View the filing
FMEG breakeven — breakeven · FY27
stated firmly by Rajesh Jain
p. 7
“now we have, now we are targeting to achieve breakeven in FY27.”
Rajesh Jain, page 7 of the filed PDF · View the filing
Capex program — Rs 1,200 crore · FY26-FY28
stated firmly by Rajesh Jain
p. 8
“So we are on track. What we have planned, like investment of INR1,200 crore, out of which, almost INR300 crores we have invested in FY26 already.”
Rajesh Jain, page 8 of the filed PDF · View the filing
Cable voltage capability — 220 KV · by FY2028
stated firmly by Rajesh Jain
p. 15
“With new capex plan, we'll be able to achieve capability to build up to 220 KV, which is like lower end of EHV or higher end of HV side of the cable with this capex plan of INR1,200 crores.”
Rajesh Jain, page 15 of the filed PDF · View the filing
Cable contribution to wire and cable segment — 31% · by year-end
stated conditionally by Rajesh Jain
p. 18
“But by normal means, my cable contribution can increase by 3% to 4% in overall business. Like if this is 27%, on normalized basis, by year-end it can become 31%.”
Rajesh Jain, page 18 of the filed PDF · View the filing
Cable volume growth — 25% · next two years
stated conditionally by Rajesh Jain
p. 19
“If I can figure out like in wire our growth may remain around 11%-12%, while in cable we, since our base is small, we are expecting growth of 25% in terms of volumes.”
Rajesh Jain, page 19 of the filed PDF · View the filing
Q&A highlights
Management's answers to analyst questions, in Parakho's words rather than a transcript. Each row names who answered and carries the verbatim quote it was drawn from.
Management said quarterly prediction is difficult but reiterated a yearly volume growth target of 16-18%
Answered by Rajesh Jain
Asked by Manoj Gori: Whether high single digit to low double digit volume growth will continue in coming quarters
p. 6
“On a yearly basis, whatever the prediction we have given on like our yearly basis, volume growth will be like, always remain better than industry growth and whatever we have projected in our slides in the range of 16% to 18%.”
Rajesh Jain, page 6 of the filed PDF · View the filing
Management attributed the rise to higher sales-in-transit for exports and higher metal prices
Answered by Rajesh Jain
Asked by Manoj Gori: Why inventory increased significantly in absolute terms
p. 6
“So one thing like, our SIT have increased, lot many exports are remain in transit also during that period.”
Rajesh Jain, page 6 of the filed PDF · View the filing
Management confirmed a marginal positive inventory impact but declined to quantify it
Answered by Rajesh Jain
Asked by Achal Lohade: Whether there was any inventory gain in Q4 and its quantum
p. 9
“So in this quarter, yes, we had some positive impact in my profitability, but it is in normal course of business.”
Rajesh Jain, page 9 of the filed PDF · View the filing
Management said this is difficult to predict due to raw material prices and product mix variability
Answered by Rajesh Jain
Asked by Rahul Agarwal: What is the peak revenue potential for cable and wire based on current capacity
p. 11
“No, Rahul, it becomes very difficult to calculate because revenue depends on so many things. Of course, one is raw material prices, second is product mix also.”
Rajesh Jain, page 11 of the filed PDF · View the filing
Management said they used letter of credit facilities more effectively to manage working capital
Answered by Rajesh Jain
Asked by Ashish Kanodia: What led to the increase in payable days this quarter
p. 12
“Like, we used a letter of credit facility , so that we can, e effectively manage our working capital. We used these trade facilities more effectively in this quarter.”
Rajesh Jain, page 12 of the filed PDF · View the filing
Management said it is hard to predict the war's duration but expects sales from the region to recover once resolved
Answered by Rajesh Jain
Asked by Vidit Trivedi: Outlook for Middle East exports in FY27 given the ongoing conflict
p. 13
“I think it will be very tough to predict in such a scenario because nobody is aware whether this war will finish tomorrow or maybe 15 days or one month.”
Rajesh Jain, page 13 of the filed PDF · View the filing
Management said this is difficult to predict precisely but agreed the math could support that figure
Answered by Rajesh Jain
Asked by Saumil Mehta: Whether FY27 could see around 30% top line growth given volume and pricing trends
p. 18
“Again it will be very tough to predict, but mathematically, if you go by like my volume growth versus price rise, what we have seen on average basis, 30%, you can assume.”
Rajesh Jain, page 18 of the filed PDF · View the filing
Risks flagged
Geopolitical tension and prolonged conflict affecting Middle East exports
p. 6
“Of course, since there were some disturbances in our export segment and since now this war is also prolonging, so there may be some impact in short-term.”
Rajesh Jain, page 6 of the filed PDF · View the filing
Volatility in raw material prices including copper, aluminium and PVC
p. 4
“At the same time, raw material prices, particularly copper, aluminium, and PVC remained volatile during the period, while currency movement and freight cost added pressure across the value chain.”
Rajesh Jain, page 4 of the filed PDF · View the filing
Delay in FMEG breakeven due to weak volumes and input cost pressure
p. 7
“There were two major reasons. One, of course, like, the volumes what we were expecting due to bad weather and it could not be achieved.”
Rajesh Jain, page 7 of the filed PDF · View the filing
Impact on export revenue from disruption in physical shipments to Middle East
p. 9
“So there will be some impact on my sales or revenue side.”
Rajesh Jain, page 9 of the filed PDF · View the filing
Uncertainty around duration of Middle East conflict affecting FY27 export outlook
p. 8
“It depends how long war will go on.”
Rajesh Jain, page 8 of the filed PDF · View the filing
Generated by claude-sonnet-5. Source: the transcript as filed with BSE. We link to the exchange's copy; we do not host transcripts. Parakho is a data and screening tool, not an investment adviser — nothing here is a recommendation to buy, sell or hold.