RR Kabel Q4 FY26: Revenue Rs 9,722 Cr, PAT Rs 492 Cr

Earnings call context and what stood out

RR Kabel discussed its Q4 and FY26 performance in an earnings conference call held on April 30, 2026. Management said the quarter played out amid heightened geopolitical tensions, which contributed to volatility in input costs and uncertainty in global trade. Despite those conditions, the company pointed to steady domestic demand drivers in India, led by infrastructure, housing, and industrial activity. Export traction was also described as supportive, even as the company acknowledged near-term disruptions due to the ongoing conflict-related environment.

The key takeaway from the call was that RR Kabel delivered its highest-ever quarterly and annual revenue in FY26. Management attributed the outcome to steady demand and execution across the business, with the wires and cables segment continuing to be the primary growth engine. The company also highlighted tighter cost management and operating leverage as drivers of profitability improvement during the year.

Q4 FY26 financial performance

RR Kabel reported revenue for Q4 FY26 at Rs 2,964.1 crore, up 33.7% year-on-year (YoY). EBITDA for the quarter was Rs 263.5 crore, up 34.6% YoY, while profit after tax (PAT) stood at Rs 168.0 crore, up 30.1% YoY. Management said profitability improved despite raw material volatility, supported by disciplined procurement and timely pricing actions.

Separately, a BSE financial summary included in the provided data showed total revenue (quarter) of Rs 2,977.07 crore, operating profit of Rs 261.66 crore, and net profit of Rs 167.95 crore for the March 2026 quarter. These figures broadly track the quarterly performance described during the conference call.

FY26: record revenue and faster profit growth

For the full year FY26, RR Kabel reported revenue of Rs 9,722.4 crore, up 27.6% YoY. Full-year EBITDA was Rs 789.1 crore, up 61.8% YoY, and PAT was Rs 492.2 crore, up 58.0% YoY. Management linked the sharper growth in EBITDA and PAT relative to revenue to operating leverage and cost control.

The company positioned FY26 as a year where scale benefits became more visible, while execution and pricing discipline helped navigate commodity-linked volatility. It also reiterated that the wires and cables business remained the key contributor to performance across both domestic and export markets.

Segment mix: wires and cables still dominant

RR Kabel said 90% of FY26 revenue came from the wires and cables segment, with the FMEG segment contributing the remaining 10%. This split reinforces the company’s current earnings profile, where the core electrical wires and cables portfolio drives both growth and profitability.

Management also spoke about continuing investments in branding and customer engagement, alongside pursuing domestic and export growth opportunities. It indicated that sustaining performance in a volatile environment depends on pricing actions and procurement discipline.

Wires and cables: strong revenue expansion and profit growth

The wires and cables segment reported Q4 FY26 revenue of Rs 2,666.4 crore versus Rs 1,956.2 crore in Q4 FY25, a growth of 36.3% YoY. For FY26, segment revenue was Rs 8,763.7 crore compared with Rs 6,688.8 crore in FY25, implying 31.0% YoY growth.

Segment profit for wires and cables in Q4 FY26 was Rs 257.3 crore, up 32.5% YoY from Rs 194.1 crore in Q4 FY25. For FY26, segment profit was Rs 775.6 crore, up 56.2% YoY from Rs 496.5 crore in FY25. Management attributed the improvement to scale benefits, operational efficiency, and effective handling of price volatility.

FMEG: steady revenue, losses narrowing, break-even target

In FMEG, Q4 FY26 revenue was Rs 297.7 crore versus Rs 261.6 crore in Q4 FY25, up 13.8% YoY. For FY26, FMEG revenue was Rs 958.6 crore compared with Rs 929.5 crore in FY25, a 3.0% YoY increase.

Management said FMEG losses reduced versus last year and reiterated that it remains on track to achieve break-even in FY27. It linked the FMEG performance to stable demand in key categories and continued distribution expansion, while noting that ongoing investments are being made toward growth and brand building.

Volumes, mix, and management commentary on near-term trends

In the Q&A, management indicated wires and cable volume growth of 10% in Q4 and around 16% for the full year. It also stated an expectation to deliver 16% to 18% volume growth in the coming year, while noting that export conditions could see short-term impact due to the ongoing war-related disruptions.

The company also referenced its internal margin aspiration of improving margins by roughly 100 basis points on a yearly basis and a stated target of 10.5% margin in the wires and cables segment by FY28.

Capex plan and balance sheet remarks

RR Kabel said its balance sheet and working capital position remained healthy during FY26, supported by tight control on inventory and receivables. It also noted that its Rs 1,200 crore capex programme spanning FY26 to FY28 is progressing as planned. Management linked this capex plan to capacity expansion and growth initiatives, including efforts to deepen presence in B2B and scale up cables.

Key numbers at a glance

Why the FY26 print matters for investors

RR Kabel’s FY26 results show a combination of strong top-line growth and faster improvement in profitability. The segment data indicates that wires and cables remain the primary driver of both growth and earnings, and that scale benefits are flowing through to segment profit growth. FMEG remains a smaller contributor by revenue, but management’s break-even goal for FY27 provides a clear operating milestone to track.

The commentary also puts focus on commodity-linked volatility and the need for pricing discipline, which is particularly relevant for businesses with copper exposure. Management explicitly flagged that copper price movements can affect the revenue line, and it also referenced mix dynamics, including a mix disclosure of 73 versus 27 in the context provided.

Conclusion

RR Kabel closed FY26 with record revenue of Rs 9,722.4 crore and PAT of Rs 492.2 crore, supported by strong momentum in wires and cables and improving profitability. The company reiterated key execution priorities, including disciplined procurement, pricing actions, and continued investment in brand and distribution. Next milestones referenced in the call include progress under the ongoing Rs 1,200 crore capex programme through FY28 and the stated aim of taking the FMEG business to break-even in FY27.