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UltraTech's Entry In Cables Biz May Derate Polycab, KEI: Analysts

UltraTech's Entry In Cables Biz May Derate Polycab, KEI: Analysts

Shailendra Bhatnagar
Shailendra Bhatnagar
  • New Delhi ,
  • Feb 27, 2025,
  • Updated Feb 27, 2025, 1:14 PM IST

UltraTech’s ₹1,800 Cr entry into the cable-wire business sparks competition fears. Analysts predict margin pressure, a possible price war, and industry derating. CLSA expects UltraTech to generate 4x-5x revenue growth with 11%-13% margins. The industry already faces ₹100 billion capex over 2-4 years, and UltraTech’s entry could further impact profitability. Can Polycab, KEI, Havells, and RR Kabel withstand the challenge?

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