Prabhudas Lilladher Recommends 'BUY' on R R Kabel, Sets Target at Rs 1844

• R R Kabel reported strong 30% YoY volume growth, with cables/wires segments growing 25%/30% due to domestic demand and exports.
• The company plans capital expenditure for capacity expansion and aims for a 100 bps annual improvement in W&C EBIT margin, targeting 10.5% by FY28.
• Exports surged by 37.0% across all regions, and price hikes were implemented in December 2025 and January 2026 to manage input costs.
• R R Kabel expects 18% volume growth in FY26, supported by capacity expansion, and projects the FMEG segment to break even by Q4FY26.
• Prabhudas Lilladher revised FY27/FY28 earnings estimates up by 2.5%/3.1% and maintained a 'BUY' rating with a revised target price of Rs 1,844.