R R Kabel Ltd Share Price – NSE /  BSE

Cables, Small Cap

The headline equity indices extended losses in early afternoon trade. The Nifty slipped below the 24,150 mark after hitting the day’s high of 24,440.25 in early trade. Auto shares extended losses for the fourth consecutive trading session.

At 12:30 IST, the barometer index, the S&P BSE Sensex, tumbled 813.63 points or 1.02% to 79,251.53. The Nifty 50 index dropped 278.15 points or 1.14% to 24,121.25.

The broader market underperformed the frontline indices. The S&P BSE Mid-Cap index fell 1.73% and the S&P BSE Small-Cap index declined 2.51%.

The market breadth was weak. On the BSE, 632 shares rose and 3,183 shares fell. A total of 87 shares were unchanged.

Derivatives:

The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, jumped 6.37% to 14.86. The Nifty 31 October 2024 futures were trading at 24,140, at a premium of 18.75 points as compared with the spot at 24,121.25.

The Nifty option chain for the 31 October 2024 expiry showed maximum Call OI of 85.7 lakh contracts at the 25,000 strike price. Maximum Put OI of 61.4 lakh contracts were seen at 24,000 strike price.

Buzzing Index:

The Nifty Auto index fell 2.65% to 23,680.55. The index tumbled 6.22% for the four consecutive trading sessions.

Mahindra & Mahindra (down 4.69%), TVS Motor Company (down 3.86%), Exide Industries (down 3.57%), Hero MotoCorp (down 3.34%), Bajaj Auto (down 2.63%), Eicher Motors (down 2.18%), Bharat Forge (down 2.12%), Samvardhana Motherson International (down 1.85%), Maruti Suzuki India (down 1.84%) and Tata Motors (down 1.8%) slipped.

Stocks in Spotlight :

RR Kabel slipped 3.42% after the company’s consolidated net profit declined 33.16% to Rs 49.52 crore in Q2 FY25 as against Rs 74.09 crore posted in Q2 FY24. Revenue from operations was at Rs 1,810.13 crore in second quarter of FY25, marking a growth of 12.45% as against Rs 1,609.67 crore in Q2 FY24.

Nippon Life India Asset Management added 1.04% after the company’s consolidated net profit jumped 47.33% to Rs 360.10 crore on 45.59% rise in total income to Rs 692.08 crore in Q2 FY25 over Q2 FY24.

Bikaji Foods International added 3.97% after the company reported 14.7% rise in net profit to Rs 68.6 crore on a 26% increase in total revenue from operations to Rs 721.2 crore in Q2 FY25 over Q2 FY24.

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Revenue from operations was at Rs 1,810.13 crore in second quarter of FY25, marking a growth of 12.45% as against Rs 1,609.67 crore in Q2 FY24.

Profit before tax tumbled 43.19% to Rs 59.67 crore in Q2 FY25 as against Rs 105.04 crore recorded in the same period last year.

EBITDA declined 29.3% to Rs 85.6 crore in Q2 FY25 from Rs 121.1 crore in Q2 FY24. EBITDA margin reduced to 4.7% in the second quarter as compared to 7.5% recorded in the same period last year.

During the quarter, wires & cables segment of the company has earned total revenue of Rs 1,611.82 crore in Q2 FY25, up 11.13% as against Rs 1,450.38 crore posted in Q2 FY24. The growth is driven by volume expansion along with increased in average realization.

Fast moving electrical goods segment of the company grew by 25% in Q2FY25 over Q2FY24, driven by strong volume growth mainly in fans, appliances and switches.

On half year basis, the company’s net profit declined 23.26% to Rs 113.90 crore in H1 FY25 as against Rs 148.44 crore posted in H1 FY24. Revenue from operations was at Rs 3,618.24 crore in H1 FY25, up 12.82% as against Rs 3,206.98 crore posted in H1 FY24.

Meanwhile, the company’s board declared the interim dividend of Rs 2.50 per share on the equity shares of face value of Rs 5 each for the financial year 2024-25. The record date for the purpose of determining the entitlement of the equity shareholders for the said dividend shall be Friday 1 November 2023, as intimated by our letter dated 19 October 2024.

Shreegopal Kabra, MD said, - “RR Kabel has delivered its highest-ever quarterly and half-yearly revenues, despite overall moderate volume growth. The Wires & Cables business in the domestic market achieved strong double-digit volume growth, while the FMEG segment recorded solid revenue performance, driven by robust volume growth and an improved product mix, maintaining its position as the fastest-growing among peers. Despite challenges like global shipment delays and higher commodity prices, demand has remained stable.

Looking ahead, we expect margin improvements in the second half of the year, with our capex plans progressing as scheduled and set for completion by the fiscal year-end. We are also focused on our long-term vision of achieving double-digit EBITDA margins, breakeven in the FMEG segment, capacity expansion, and diversifying into newer and emerging market opportunities.”

R R Kabel is a leading consumer electrical company in India and has an operating history of over 25 years in the country. It is India’s largest exporter of wires and cables, offering a wide range of electrical products including wires & cables, fans, lighting, electrical accessories, and appliances for residential, commercial, industrial, and infrastructural purposes. Committed to quality and innovation, the company's products adhere to global guidelines and standards, ensuring safety and reliability.

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Net profit of R R Kabel declined 33.16% to Rs 49.53 crore in the quarter ended September 2024 as against Rs 74.10 crore during the previous quarter ended September 2023. Sales rose 12.45% to Rs 1810.14 crore in the quarter ended September 2024 as against Rs 1609.67 crore during the previous quarter ended September 2023.

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Net profit of R R Kabel declined 32.72% to Rs 49.75 crore in the quarter ended September 2024 as against Rs 73.94 crore during the previous quarter ended September 2023. Sales rose 12.45% to Rs 1810.14 crore in the quarter ended September 2024 as against Rs 1609.67 crore during the previous quarter ended September 2023.

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