Company Disclosure

Financial Performance Highlights

FY26 Consolidated Financials:

  • Revenue: INR 24,304.53 crore
  • EBITDA: INR 2,067.65 crore
  • PAT: INR 976.93 crore
  • Export Revenue: INR 7,301.15 crore

Segment-wise Revenue (FY26):

  • Conductors: INR 12,711.95 crore (includes inter-segment revenue)
  • Oils: INR 5,373.07 crore
  • Cables: INR 6,219.51 crore

Business Segment Updates

Conductors Business

  • Market Position: India's largest player in terms of sales of conductors in FY26
  • Global Standing: One of the leading global aluminium and alloy conductors' manufacturers as of March 2026
  • Capacity: Installed capacity increased to 2,77,327 MT in FY26 from 2,14,438 MT in FY24
  • Premium Mix: 45.82% of conductor revenue comes from premium products based on FY26 revenue
  • Projects Completed: Until FY26, completed 272 reconductoring projects covering 7,005 circuit kilometers
  • Technology: Technology tie-ups with US-based company for ACCC conductors

Transformer and Specialty Oils Business

  • Market Position: India's largest private sector manufacturer of specialty oils in terms of manufacturing capacity as of March 2026
  • Capacity: FY26 installed capacity 9,34,600 MT
  • Export Performance: ~42% of transformer oil volumes sold to overseas markets in FY26
  • International Presence: Manufacturing plant in Al-Hamriyah, Sharjah serving Middle East & East Africa markets
  • Licensing: Licensing agreement for auto lubricant with a European company

Cables Business

  • Market Position: One of the largest cable manufacturers for renewables in India as of FY26
  • Capacity: Installed capacity 9,50,656 KM in FY26 versus 6,81,780 KM in FY24
  • Special Capabilities: 5 E-beam Irradiation machines; 18 UL approvals for export of cables to US
  • Diversification: Supplier of cables to defence and railways; supplier of EPR cables
  • Light Duty Business: Presence in 20 states with FY26 sales value of INR 384.06 crores

Operational Metrics

Customer Mix (FY26):

  • Exports: 29-30%
  • Industries/Corporate: 18-19%
  • EPC Transmission companies: 14-15%
  • OEMs: 11-12%
  • Utilities Transmission companies: 7-8%
  • Renewables: 6-7%
  • Channel sales: 4-5%
  • Specific Industry Group: 3-4%
  • Utilities - Electricity Distribution Boards: 2-3%
  • EPC - Diversified: 1-2%

Receivables Quality (FY26):

  • 50.40% secured under various means
  • 25.40% from government transmission and sector specific companies
  • 24.20% others

Capacity and Growth Drivers

Established Growth Drivers:

  • Renewable Buildout
  • Transmission Expansion
  • Infrastructure Development

New Growth Drivers (last 2 years):

  • Data Centre Buildout
  • Public Transportation (including Mobility)
  • Telecom Manufacturing
  • China + 1 strategy
  • Energy storage systems

ESG Performance

  • Rating: Received 'CareEdge-ESG 1' rating (leadership category for ESG risk management)
  • Human Rights: 4-Star Platinum ratings under BEC 1500:2024 for Excellence in Human Rights Practices

Environmental Metrics (FY26 vs FY25):

  • Scope-1 GHG emission: 48,222 tCO2e (vs 39,329)
  • Scope-2 GHG emission: 1,38,693 tCO2e (vs 1,22,479)
  • GHG Emission Intensity (scope 1+2): 0.256 (vs 0.260)
  • Water Footprint Intensity: 0.35 KL/MT (vs 0.43)
  • Water Intensity: 0.48 KL/MT (vs 0.53)
  • Water Consumption: 3,78,559 KL (vs 363,693)
  • Renewable energy consumption: 6.00% (vs 5.52%)

Market Outlook and Opportunities

The presentation highlights several structural growth opportunities:

  • Global data center capacity projected to grow 2.3x by CY30 (226 GW from 2024 levels)
  • Global renewable power capacity addition projected at 4,600 GW (CY25-30)
  • Global electricity network investment growth of 1.7x from CY2021 to CY2026P
  • India's installed power capacity projected to reach 885-895 GW by fiscal 2031
  • Metro projects: INR 3.44 trillion sanctioned projects
  • High speed Rail: 7 more routes identified with expected outlay of INR 16 trillion
  • Electric vehicle sales projected to reach 500,000 units by FY27