Market Share and Recent Trends in India’s Wire & Cable Industry
The Indian wire and cable industry is highly fragmented, with both organized and unorganized players competing for market dominance. Despite this, a few major companies control a significant portion of the organized market, collectively holding around 40-45% market share.
Top 5 Wire & Cable Companies in India (Market Share)
✅ Polycab India: 20-22%
✅ Havells India: 15-17%
✅ Finolex Cables: 12-14%
✅ KEI Wires & Cables: 10-12%
✅ RR Kabel: 8-10%
These companies have established themselves as trusted brands through high-quality products, extensive distribution networks, and strong brand recognition.
Impact of Aditya Birla Group’s Entry on Cables & Wire Stocks
The wire and cable sector is currently under pressure following Aditya Birla Group’s announcement of its entry into the industry via Ultratech Cement. On February 27, Ultratech revealed plans to invest ₹1,800 crore to set up a cables and wires plant in Bharuch, Gujarat, expected to be operational by December 2026.
This move triggered a major sell-off in wire and cable stocks, with KEI Industries, Polycab India, Havells India, and RR Kabel falling over 17% in a single day. The downtrend continued on February 28, with:
📉 Polycab India: -1.7%
📉 KEI Industries: -3.2%
📉 Havells India: -2.82%
📉 Ultratech Cement: -2%
While analysts believe Ultratech’s entry will not immediately impact the earnings of existing companies, Motilal Oswal has warned that it may affect valuation multiples in the long run.
Organized vs. Unorganized Market Share
🔹 Organized sector: 60-65% (Established brands with quality products)
🔹 Unorganized sector: 35-40% (Smaller players with lower brand recognition)
Future Outlook
The Indian wire and cable market is expected to grow at a CAGR of 4-5%, driven by urbanization, infrastructure development, and demand for energy-efficient solutions. While new entrants like Ultratech Cement may increase competition, major players in the organized sector are well-positioned to expand their market share through technological investments and quality assurance.
