Buy, Sell Or Hold: Polycab India, KEI Industries, Finolex Cables, RR Kabel, Apar Industries — Analyst Forecast

Q: Which cables stock has the strongest return on equity?

Polycab India currently has the strongest return on equity among these cables stocks at 22.25%, alongside a valuation below the industry average.

Updated: 23 Sept 2026 • 5:22 pm

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Analyst Forecast

Sector Snapshot (23 September 2026)

Stock	LTP (Rs)	52W High	52W Low	P/E vs Industry	ROE	Our View
Polycab India	8,417.00	10,126.00	6,660.50	43.33 / 47.97	22.25%	Buy on Dips
KEI Industries	4,722.50	5,899.00	3,728.70	43.97 / 47.97	13.78%	Buy on Dips
Finolex Cables	1,470.20	1,498.00	700.80	28.06 / 47.97	11.73%	Hold
RR Kabel	2,476.70	2,983.80	1,181.60	46.00 / 47.97	19.12%	Buy on Dips
Apar Industries	17,876.00	19,265.00	6,801.00	64.64 / 47.74	18.11%	Hold

Quick Answer

Polycab India, KEI Industries and RR Kabel all trade close to or below the industry average valuation while posting return on equity above 13% among these cables stocks, making them the more attractive picks in this group. Finolex Cables is the cheapest on valuation but has the weakest return on equity, while Apar Industries, trading near its 52-week high, carries the richest multiple despite solid profitability.

India's wires and cables makers supply the housing, infrastructure and power transmission sectors, businesses that have benefited from strong construction and electrification demand in recent years. This piece checks five listed cables stocks on valuation and profitability.

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Table of Contents

Polycab India: Buy on Dips

Polycab India trades at Rs 8,417.00, down about 17% from its 52-week high of Rs 10,126.00. It combines a strong return on equity of 22.25% with a price-to-earnings ratio of 43.33, below the industry average of 47.97. That mix of solid profitability, a discounted valuation and an almost debt-free balance sheet makes it one of the more attractive cables stocks to accumulate on dips.

KEI Industries: Buy on Dips

KEI Industries is at Rs 4,722.50, down about 20% from its 52-week high of Rs 5,899.00. It trades at a price-to-earnings ratio of 43.97, modestly below the industry average of 47.97, with a return on equity of 13.78%. That combination of a below-industry valuation and reasonable profitability makes it another of the more compelling cables stocks to watch on dips.

Finolex Cables: Hold

Finolex Cables trades at Rs 1,470.20, close to its 52-week high of Rs 1,498.00 after a strong climb from its low of Rs 700.80. It stands out with the cheapest price-to-earnings ratio in this group at 28.06 against an industry average of 47.97, and carries no debt, but its return on equity of 11.73% is the weakest among these cables stocks. That gap between an attractive valuation and modest profitability keeps this in hold territory.

RR Kabel: Buy on Dips

RR Kabel is at Rs 2,476.70, down close to 17% from its 52-week high of Rs 2,983.80, after climbing sharply from its 52-week low of Rs 1,181.60. It trades at a price-to-earnings ratio of 46.00, close to the industry average of 47.97, with a healthy return on equity of 19.12%. That balance of a near-fair valuation and solid profitability makes it worth watching for accumulation on further dips.

Apar Industries: Hold

Apar Industries trades at Rs 17,876.00, close to its 52-week high of Rs 19,265.00 after a dramatic climb from its low of Rs 6,801.00. It posts a healthy return on equity of 18.11%, but its price-to-earnings ratio of 64.64 is the richest in this group, well above the industry average of 47.74. With the stock trading near its highs on a full valuation, this looks like a hold rather than a fresh buy.

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What Ties These Cables Stocks Together

Across these cables stocks, Polycab India, KEI Industries and RR Kabel currently combine below or near-industry valuations with solid return on equity, making them the more reasonable picks to accumulate on dips. Finolex Cables' cheap valuation has not yet been matched by comparably strong profitability, while Apar Industries' rich multiple near its 52-week high reflects a business trading on momentum as much as fundamentals. Copper and aluminium input costs, along with housing and power infrastructure demand, can move these numbers meaningfully from one quarter to the next.

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Conclusion

Cables stocks in India currently show Polycab India, KEI Industries and RR Kabel as the better placed picks for gradual accumulation among these cables stocks, while Finolex Cables and Apar Industries are more reasonable holds until their profitability or valuation move closer into line. As always, treat this as a starting point rather than a final word.

Disclaimer: This article is for informational and educational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any security. Stock market investments are subject to market risks. Please verify all data independently and consult a SEBI-registered investment adviser before making any investment decisions. Univest Financial Services Private Limited, SEBI Registered Investment Adviser, Registration No. INH000013776.

Frequently Asked Questions

A few common questions on these cables stocks, answered briefly below for quick reference on this cables stocks basket.

Which cables stocks look attractive right now?

Polycab India, KEI Industries and RR Kabel currently show the most favourable combination of a below or near-industry valuation and solid return on equity among the names covered here.

Why is Finolex Cables cheap despite a strong rally?

Finolex Cables trades at the lowest price-to-earnings ratio in this group even after climbing close to its 52-week high, but its return on equity of 11.73% is the weakest among these cables stocks, which is why it is rated a hold rather than a bargain.

Is Apar Industries overvalued?

Apar Industries trades at the richest price-to-earnings ratio in this group, well above the industry average, and while its return on equity remains healthy at 18.11%, the premium already reflects much of that strength.

Which cables stock has the strongest return on equity?

Polycab India currently has the strongest return on equity in this group at 22.25%, alongside a valuation below the industry average.

How do copper prices affect cables stocks?

Copper and aluminium are the primary raw materials for wire and cable makers, so a sharp rise in metal prices can pressure margins even when overall demand from housing and infrastructure projects stays strong.

Where can I track these cables stocks in real time?

You can track live prices, set price alerts, and follow quarterly results for Polycab India, KEI Industries, Finolex Cables, RR Kabel and Apar Industries using the Univest iOS App and Univest Android App.