UltraTech Cement Enters Wires & Cables Market with ₹1,800 Crore Investment, Shaking Up Industry Leaders

https://preview.redd.it/v5bzvbym8mle1.png?width=1280&format=png&auto=webp&s=3d243d30809a85971607623c1871fdbd26450aeb UltraTech Cement, part of the Aditya Birla Group, is entering the wires and cables industry with an investment of ₹1,800 crore over the next two years. This move is aimed at expanding its presence in the construction value chain, complementing its existing products like waterproofing solutions, TMT steel bars, plywood, sanitary ware, hand tools, and electrical components. The company plans to set up a manufacturing facility in Bharuch, Gujarat, which is expected to start operations by December 2026. The wires and cables sector has been growing at a CAGR of around 13% between FY19 and FY24, making it a lucrative market. Currently, major players in the industry include Polycab and Havells. Following UltraTech’s announcement, shares of companies like KEI Industries, Polycab India, Havells India, and RR Kabel dropped by up to 15% as investors reacted to the increased competition.