3 Cable, Switchgear and Measuring Instrument Stocks With a Strong Future Roadmap: Universal Cables, Salzer Electronics and Rishabh Instruments
- October 12, 2026
- Posted by: Lakshit Sharma
- Category: Best Stocks
Universal Cables Rs 1,518.80, P/E 26.88. Salzer Electronics Rs 497.25, P/E 20.12. Rishabh Instruments Rs 677.90, P/E 30.45. Closing prices of 9 Oct 2026.
Quick Answer
Cable, switchgear and measuring instrument stocks with the clearest long-term roadmaps today include Universal Cables in power cables and railway cables, Salzer Electronics in switches and electrical components and Rishabh Instruments in electrical measuring and power-quality instruments. FY26 revenue growth was 25.2% at Universal Cables, 23.6% at Salzer Electronics and 8.3% at Rishabh Instruments. P/E stands at 26.88 for Universal Cables (industry 50.85), 20.12 for Salzer Electronics (industry 47.09) and 30.45 for Rishabh Instruments (industry 47.09). Demand cycles, input costs and valuation decide how much of that growth the market keeps paying for, so each company’s risks need equal attention.
Cable, switchgear and measuring instrument stocks give investors exposure to products that carry, switch and measure electricity in homes, factories and grids. Order inflow, product mix and margins decide how much of that demand turns into profit.
This list covers three cable, switchgear and measuring instrument stocks: Universal Cables for power cables and railway cables, Salzer Electronics for switches and electrical components and Rishabh Instruments for electrical measuring and power-quality instruments. Every figure comes from the latest reported financials and the 9 October 2026 market close. Companies without complete current figures were left out.
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What Are Cable, Switchgear and Measuring Instrument Stocks?
Cable, switchgear and measuring instrument stocks are shares of companies that make cables, electrical components and instruments for utilities and industry. Results depend on order inflow, product mix and margins, so product mix and margins separate the stronger names.
Cable, Switchgear and Measuring Instrument Stocks at a Glance
The table compares size, valuation, return on equity and debt for the three cable, switchgear and measuring instrument stocks as of the 9 Oct 2026 close.
| Company | CMP (Rs) | Market Cap (Rs Cr) | P/E | Industry P/E | ROE | Debt to Equity |
|---|---|---|---|---|---|---|
| Universal Cables | 1,518.80 | 5,376 | 26.88 | 50.85 | 8.71% | 0.62 |
| Salzer Electronics | 497.25 | 903 | 20.12 | 47.09 | 8.93% | 0.90 |
| Rishabh Instruments | 677.90 | 2,497 | 30.45 | 47.09 | 10.94% | 0.11 |
Among electrical equipment stocks, all three trade at a discount to their industry P/E multiples.
Why Do Cable, Switchgear and Measuring Instrument Stocks Have a Strong Roadmap in India?
Cable, switchgear and measuring instrument stocks have a strong roadmap in India because power grid upgrades, factory automation and metering keep raising demand for electrical products made in India. Three drivers stand out.
- Grid spending: Utilities keep upgrading networks and metering.
- Industrial demand: Factories need switches, cables and instruments.
- Local sourcing: Buyers prefer reliable Indian suppliers.
Universal Cables: Power Cable Demand Anchors the Roadmap
Universal Cables’ roadmap rests on power cables, railway cables and related products for utilities and industrial customers, with grid, rail and industrial spending supporting order inflows.
Revenue grew from Rs 1,833.04 crore in FY22 to Rs 3,051.40 crore in FY26, a 66.5% rise, and FY26 revenue was 25.2% higher than FY25. FY26 net profit was Rs 163.11 crore. In Q1 FY27, revenue grew 57.4% to Rs 948.18 crore. Operating margin was 12.28% in FY26 and 14.13% in Q1 FY27 against 13.17% a year earlier.
Debt to equity is 0.62 and return on equity is 8.71%. FY26 operating cash flow was Rs 63.48 crore against capital expenditure of Rs 269.83 crore. Universal Cables paid a dividend of Rs 4.5 per share for FY26, a yield of 0.29%. At a P/E of 26.88 against an industry P/E of 50.85, the stock trades below its industry multiple.
What to watch: Q1 FY27 operating margin was 14.13% against 12.28% for FY26, so margin stability is the figure to follow as volumes grow.
Salzer Electronics: Electrical Components Build the Next Leg
Salzer Electronics’ roadmap rests on electrical and electronic components such as switches, control gear and cables for industrial and power customers, with a broad product range supporting revenue.
Revenue grew from Rs 806.02 crore in FY22 to Rs 1,759.87 crore in FY26, a 118.3% rise, and FY26 revenue was 23.6% higher than FY25. FY26 net profit rose 4.8% to Rs 55.01 crore. Over four years, net profit rose from Rs 24.20 crore in FY22 to Rs 55.01 crore. In Q1 FY27, revenue grew 12.8% to Rs 498.43 crore. Operating margin was 8.45% in FY26.
Debt to equity is 0.90 and return on equity is 8.93%. FY26 operating cash flow was Rs 46.48 crore against capital expenditure of Rs 59.00 crore. Salzer Electronics paid a dividend of Rs 2.5 per share for FY26, a yield of 0.49%. At a P/E of 20.12 against an industry P/E of 47.09, the stock trades below its industry multiple.
What to watch: Net profit margin is only 3.1%, so small cost changes move earnings.
Rishabh Instruments: Measurement and Power Conditioning Products Build the Next Leg
Rishabh Instruments’ roadmap rests on electrical measuring instruments, power-quality products and solar inverters sold in India and overseas, with smart-grid, renewable and industrial-testing demand supporting volumes.
Revenue grew from Rs 479.92 crore in FY22 to Rs 795.84 crore in FY26, a 65.8% rise, and FY26 revenue was 8.3% higher than FY25. FY26 net profit was Rs 82.26 crore. In Q1 FY27, revenue grew 3.8% to Rs 201.92 crore. Operating margin was 19.04% in FY26 and 18.64% in Q1 FY27 against 17.15% a year earlier.
Debt to equity is 0.11 and return on equity is 10.94%. FY26 operating cash flow was Rs 108.48 crore against capital expenditure of Rs 110.39 crore. Rishabh Instruments paid a dividend of Rs 2 per share for FY26, a yield of 0.31%. At a P/E of 30.45 against an industry P/E of 47.09, the stock trades below its industry multiple.
What to watch: Q1 FY27 operating margin was 18.64% against 19.04% for FY26, so margin stability is the figure to follow as volumes grow.
Best Cable, Switchgear and Measuring Instrument Stocks in India: Universal Cables vs Salzer Electronics vs Rishabh Instruments on Key Financials
Among the best cable, switchgear and measuring instrument stocks in India, Universal Cables leads on FY26 revenue growth and Q1 FY27 revenue growth; Salzer Electronics leads on the lowest P/E and dividend yield; Rishabh Instruments leads on FY26 operating margin and return on equity. The table puts the numbers side by side.
| Metric | Universal Cables | Salzer Electronics | Rishabh Instruments |
|---|---|---|---|
| FY26 revenue (Rs Cr) | 3,051.40 | 1,759.87 | 795.84 |
| FY26 revenue growth | 25.2% | 23.6% | 8.3% |
| FY26 net profit (Rs Cr) | 163.11 | 55.01 | 82.26 |
| FY26 operating profit margin | 12.28% | 8.45% | 19.04% |
| Q1 FY27 revenue growth (YoY) | 57.4% | 12.8% | 3.8% |
| Return on equity | 8.71% | 8.93% | 10.94% |
| P/E ratio | 26.88 | 20.12 | 30.45 |
| Debt to equity | 0.62 | 0.90 | 0.11 |
| Dividend yield | 0.29% | 0.49% | 0.31% |
| FY26 operating cash flow (Rs Cr) | 63.48 | 46.48 | 108.48 |
Electrical earnings follow order inflow, product mix and margins, so full-year numbers and quarterly trends together give a better view.
How to Evaluate Cable, Switchgear and Measuring Instrument Stocks to Buy Before You Invest
A short checklist keeps the research consistent when you screen cable, switchgear and measuring instrument stocks and shortlist cable, switchgear and measuring instrument stocks to buy.
- Compare each stock’s P/E with its industry P/E, which differs by company here.
- Check order growth, operating margin and working capital together.
- Check whether revenue growth is turning into profit growth, not only sales.
- Read operating cash flow against capital expenditure to see how growth is funded.
- Watch debt to equity and interest cover before sizing a position.
- Spread exposure across companies and business lines instead of one demand cycle.
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Risks to Consider Before Investing in Cable, Switchgear and Measuring Instrument Stocks
- Raw material costs: Copper and aluminium prices can affect margins.
- Order timing: Utility buying cycles can shift revenue.
- Quarterly trends: A single weak quarter can change near-term earnings, so track results every quarter.
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Annual reports and quarterly result presentations are the most reliable places to verify the numbers quoted here, because they show segment details, management commentary and the notes behind each figure.
Comparing a quarter with the same quarter of the previous year gives a cleaner reading than comparing it with the preceding quarter, since seasonal patterns affect many businesses in India.
The shareholding pattern published every quarter shows whether promoters, mutual funds and foreign investors are raising or trimming their holdings, which adds useful context to the financial numbers.
Spreading money across several sectors and company sizes helps keep a portfolio steady, because each business responds differently to interest rates, commodity prices and consumer demand.
Final Take: Which Stock Has the Strongest Roadmap?
These three electrical equipment stocks cover cables, electrical components and measuring instruments. Universal Cables leads on FY26 revenue growth and Q1 FY27 revenue growth; Salzer Electronics leads on the lowest P/E and dividend yield; Rishabh Instruments leads on FY26 operating margin and return on equity.
Across cable, switchgear and measuring instrument stocks, each roadmap still has to turn growth into steady profit, so independent research and position sizing matter. Investors should consult a SEBI-registered advisor before acting on any of the cable, switchgear and measuring instrument stocks to buy discussed here.
Disclaimer: Data and figures in this article are sourced from publicly available information. These may or may not be accurate. Please verify all data with the official NSE (nseindia.com) and BSE (bseindia.com) websites before making any investment decision. Investments in securities are subject to market risk. This content is for educational purposes only and is not investment advice by Univest (SEBI RA INH000013776).
FAQs on Cable, Switchgear and Measuring Instrument Stocks
Which are the best cable, switchgear and measuring instrument stocks in India with a strong roadmap?
Ans. Universal Cables, Salzer Electronics and Rishabh Instruments stand out for their roadmaps in cables, electrical components and measuring instruments. FY26 revenue growth was 25.2% at Universal Cables, 23.6% at Salzer Electronics and 8.3% at Rishabh Instruments, and return on equity ranges from 8.71% to 10.94%.
Is Universal Cables a good stock to buy now?
Ans. Universal Cables has a debt to equity ratio of 0.62, a return on equity of 8.71% and a P/E of 26.88 against an industry P/E of 50.85. Valuation, order inflow and input costs move results. This article is not investment advice, so consult a SEBI-registered advisor before deciding.
What is the P/E ratio of Universal Cables, Salzer Electronics and Rishabh Instruments?
Ans. The P/E ratio is 26.88 for Universal Cables (industry 50.85), 20.12 for Salzer Electronics (industry 47.09) and 30.45 for Rishabh Instruments (industry 47.09). All of them trade below the industry multiple.
Which of these cable, switchgear and measuring instrument stocks has the highest return on equity?
Ans. Rishabh Instruments has the highest return on equity at 10.94%, followed by Salzer Electronics at 8.93% and Universal Cables at 8.71%.
What are the risks of investing in cable, switchgear and measuring instrument stocks?
Ans. The main risks are raw material costs, order timing and quarterly trends. Copper and aluminium prices can affect margins.
How did Universal Cables, Salzer Electronics and Rishabh Instruments perform in Q1 FY27?
Ans. Universal Cables reported revenue of Rs 948.18 crore, up 57.4% year on year. Salzer Electronics reported revenue of Rs 498.43 crore, up 12.8% year on year. Rishabh Instruments reported revenue of Rs 201.92 crore, up 3.8% year on year.
Do cable, switchgear and measuring instrument stocks pay dividends?
Ans. Yes, all three companies pay dividends. The dividend yield is 0.29% for Universal Cables, 0.49% for Salzer Electronics and 0.31% for Rishabh Instruments, based on dividends declared for FY26.
How can I invest in cable, switchgear and measuring instrument stocks in India?
Ans. You can buy cable, switchgear and measuring instrument stocks through a demat and trading account on NSE or BSE after checking each company’s financials, margins and valuation. The Univest Screener lets you compare fundamentals before placing an order. Investments in securities are subject to market risk, so consider your risk profile first.