The achievements of the past year would not have been possible without your trust,
dedication, and cooperation. As we move forward, we remain committed to driving growth,
fostering innovation, and creating long-term value for all our stakeholders.
Dear Stakeholders,
It is with great pleasure that I present to you the first annual report of RR Kabel
since our successful
Initial Public Offering (IPO) in September 2023. This past year has been a remarkable
one for the
Company, characterised by improved performance and meaningful achievements. The
overwhelming response to our IPO is a testament to the confidence and trust that you, our
valued stakeholders, have placed in us. We are deeply grateful for your trust and support.
Global Economic Overview
As an exporter of wires and cables to international markets, we are acutely aware of
the global economic landscape. The past year has witnessed a mix of challenges and
opportunities across different regions.
Despite geopolitical tensions in regions like Europe and the Middle East, as well as
supply chain disruptions, the global economy demonstrated resilience, projecting a 3.2%
growth in 2025 according to the IMF. These dynamics influenced our strategic decisions and
operational adaptations. Our risk management team closely monitors global economic
activities and helps us navigate these complexities effectively.
Indian Economic Scenario
In parallel, the Indian economy exhibited robust growth, with real GDP estimated to
grow by 8.2% in 2023-24, driven by strong domestic consumption, infrastructural
developments, and supportive government policies. India's push towards becoming a global
manufacturing hub has opened new avenues for growth in the consumer electrical sector. The
consumer electricals industry, including FMEG, is estimated to achieve a 10% CAGR from
2022-23 to 2026-27, propelled by rural electrification, real estate growth, clean energy
transition, rising incomes, and a shift towards branded players. As a leading player, we
are well-positioned to capitalise on these tailwinds. We achieve this through constant
product R&D to explore and seize new opportunities in the industry, coupled with
continuous expansion of manufacturing capabilities across India to cater to diverse
regions. We have strategically aligned ourselves with these national priorities,
leveraging our expertise and innovation to contribute to India's economic progress.
Financial Performance
I feel grateful to be leading RR
Kabel, a Company that has earned a respected position in the consumer electricals
market and is counted among the top 4 branded W&C players in India with a 7% market
share. As I reflect on our financial performance over the past year, it brings me immense
joy to share that we have achieved our highest ever revenue, EBITDA, and Profit after Tax
for 2023-24. Our Revenue was up by 17.8% (Y-o-Y) at INR 6,594.6 CroreswhileourProfit after
increased by 57% (Y-o-Y) at INR 298.1 Crores. These figures highlights our commitment to
excellence and our ability to deliver value to our stakeholders.
Human Resources
We firmly believe that our dedicated workforce is our most valued asset. It is through
their diligent efforts, hard work, and perseverance that we have been able to deliver
encouraging financial results. We are a Great Place to Work-certified Company and remain
committed to understanding the needs of our employees and proactively investing in
initiatives focussed on their professional development and overall well-being.
Sustainability
Sustainability remains a core pillar of our business strategy.
We are dedicated to minimising our environmental footprint and contributing to the
well-being of the communities we serve. This year, we made significant strides in our
sustainability initiatives, including zero waste discharge, rainwater harvesting and
installing rooftop capacity for solar energy at our selected plants. We have also
undertaken social activities through our Mission RRoshini, which aims to achieve an
empowered and educated India. These efforts reflect our commitment to creating a
sustainable future and fostering a positive impact on society and the environment.
Conclusion
I would like to extend my heartfelt gratitude to all our
stakeholders—shareholders, employees, customers, and partners for your support and
trust. The achievements of the past year would not have been possible without your trust,
dedication, and cooperation. As we move forward, (Y-o-Y) we remain committed to driving
growth, fostering innovation, and creating long-term value for all our stakeholders.
Thank you. Warm regards,
Tribhuvanprasad Rameshwarlal Kabra
Executive Chairman
R R Kabel Limited