Ultravolt launch sparks sell-off in wire stocks; high-voltage players insulated

ET Intelligence Group: Shares of most listed wire and cable makers have lost 3-11% in the past two trading sessions amid concerns over the impact of Aditya Birla Group's foray into the sector under the brand Ultravolt. The entry of a well-funded company with a focus on strengthening pan-India distribution is expected to intensify competition in the retail segment, which is currently dominated by Polycab Industries, Havells India, KEI Industries, and RR Kable.

On the other hand, companies catering to the mid-to-extra high voltage segments including Diamond Power Infrastructure are likely to show lesser impact given higher entry barriers due to the critical nature and prequalification criteria.

Last Thursday, Ultratech Cement launched Ultravolt backed by an investment of ₹1,800 crore, nearly one-and-a-half years after the initial announcement in early 2025. It plans to roll out products across 500 districts through over a lakh retailers in the country. It has commenced commercial production in the first phase of its facility at Bharuch, Gujarat with an installed capacity of 1.1 million kilometres. It will eventually reach the full capacity of around four million kilometres.


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Initially, it will supply house wires, flat submersible, solar and communication cables. Over the next few weeks, it will launch low voltage (LV) cables followed by high voltage (HV) cables.

Given the retail focus at the initial stage, Ultratech's foray is expected to increase competition among established sector incumbents. The stocks of Havells and KEI have lost 4% and 11% since September 03, the day of Ultravolt's launch, after staying positive over the previous three months. Other players like Polycab and RR Kabel have fallen by 6.5% and 8.8% over the past two trading sessions.