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Cable Industry
After cement, billionaire Gautam Adani's group and Kumar Mangalam Birla's Aditya Birla Group are set for a face-off in the wires and cable business with both conglomerates announcing forays into the high double-digit growth sector. In less than a month, both groups -- who have been fiercely competing in the cement sector leaving smaller players way behind -- announced their entry into the wires and cables segment, which is dominated largely by unorganised players and some smaller companies. Entry of the two big players will intensify competition in the wires and cables industry, which posted 13 per cent compound annual growth rate (CAGR) in revenue between FY19 and FY24 and is migrating towards an organised branded market. This was evident as sensing disruption from these deep pockets, share prices of listed players in the wires and cable segments slumped a day after March 19, when Adani Enterprises informed bourses of entering the segment. Share price of Polycab India, a leader in
Industrial wire maker Paramount Cables has reported a 4 per cent rise in its consolidated profit after tax to Rs 20.33 crore during the quarter ended September on account of higher income. It had posted Rs 19.48 crore profit after tax (PAT) in the July-September quarter of the preceding 2023-24 fiscal, the company said in an exchange filing. During the second quarter, the company's total income also rose to Rs 358.17 crore from Rs 254.32 crore a year ago, a 40 per cent rise. Paramount Cables manufactures multi-core cables, low and high-voltage cables, and extra-high-voltage cables for industrial applications.
Multi-Service Operators (MSOs) in the cable television industry have begun implementing tariff hikes ranging between 5-10 per cent from October 1, following a rise in broadcaster tariffs that started in August, according to industry officials. Leading operator Siti Cable has already rolled out the hike, effective from October 1, while other MSOs are either in the process of implementing the increase in a month and actively deliberating over how best to minimise the impact on subscribers. The goal is to absorb a significant portion of the broadcaster-led increase while passing on only a fraction to consumers. "We have not yet raised our tariffs, but it has become inevitable. We've been absorbing increased costs for the past two months, but we can no longer sustain it. On average, we will raise tariffs by 5-6 per cent, though other broadcasters have hiked rates by more than 10 per cent, and in some cases, by as much as 20 per cent," Meghbela Broadband Co-founder Tapabrata Mukherjee to
Wires manufacturer Paramount Cables has reported a 54 per cent rise in its consolidated net profit at Rs 22.03 crore in the December quarter of the current fiscal, boosted by higher income. It had posted a net profit of Rs 14.32 crore during the October-December quarter in the preceding financial year, the company said in an exchange filing on Saturday. The company's total income rose to Rs 285.83 crore, up 29 per cent from Rs 221.99 crore in the year-ago period. It's expenses stood at Rs 263.77 crore as against Rs 207.68 crore year on year. Paramount Cables manufactures multi-core cables, low and high-voltage cables, besides extra-high-voltage cables for industrial applications.
In a bid to boost investor confidence, the government on Thursday notified amendments to the Cable Television Networks Rules that provide the operational mechanism for implementation of the decriminalised provisions of the Cable Television Networks (Regulation) Act. Section 16 of the Cable Television Networks (Regulation) Act, 1995 dealt with the punishment for contraventions under any of its provisions. This section had provision for imprisonment, which might extend up to two years in case of the first instance and five years for every subsequent offence. The imprisonment provisions have been now replaced with a monetary penalty and other non-monetary measures like advisory, warning and censure, an official statement said. These measures will be enforced through the designated officer defined in the rules notified on Thursday. Moreover, Section 16 now introduces an appeal mechanism against the order made by the designated officer. The punishments specified under Section 16 of the
Domestic cable and wire industry has urged the government to introduce strict laws to discourage the use of counterfeit electrical products by real estate developers. In the last decade, deaths due to electrocution have increased in the country. During a fire outbreak, smoke inhalation kills more people than the fire itself, R R Kabel Managing Director Shreegopal Kabra told reporters here on Wednesday. Counterfeit products are a growing concern in India. There is a need to introduce legislation to take stringent action against the use of counterfeit wires and cables or substandard quality wires by real estate developers, Kabra said. Elmex Group Managing Director Vipul Ray said electrical fire safety plays a critical role in any structure, be it an educational institution, a hospital, or a public space. As per a report, 35 people were killed on average due to fire mishaps in the last five years in India. "This happens when product quality is compromised. It is high time, policymaker