Incorporated in 2006, Plaza Wires Limited is engaged in the business of manufacturing and selling wires, and selling and marketing LT aluminium cables and fastmoving electrical goods (FMEG) under its flagship brand “PLAZA CABLES” and home brands such as “Action Wires” and “PCG”.

Plaza Wires was originally incorporated as Navratna Wires. Its key products in the wires and cables segment include house wires, single & multicore round flexible industrial cables and industrial cables for submersible pumps & motors up to 1.1kv grade. The company also provides other wires and cable products such as LT power control cables, TV dish antenna co-axial cables, telephone & switchboard industrial cables, computer & LAN networking cables, close circuit television cables and solar cables, PVC insulated tape, and PVC conduit pipe & accessories, through third-party manufacturers.

As part of after-sales service for electric fans, the company has tied up with more than 20 service centers in Uttar Pradesh, Uttarakhand, Jammu and Kashmir, Punjab, Haryana and Tamil Nadu. In 2021, Plaza Wires expanded its product portfolio by launching miniature circuit breakers and distribution boards (DB) in the north and south Indian regions.

As of March 31, 2023, the company has over 1249 authorized dealers and distributors, 3 branch offices in Rajasthan, Uttarakhand, and Uttar Pradesh, 1 branch office cum godown at Maharashtra, 4 warehouses in Uttar Pradesh, Assam, Kerala and Delhi, and C&F agent in 1 state, viz. Punjab.

For year/ period ended ( in Cr.)

• Product portfolio focused on various customer segments and markets.
• One of the company’s key strengths to enhance their customer reach and increase their retail presence is their dealer and distribution network.
• The company’s management and dedicated employee base.
• Setting up the Proposed Manufacturing Unit to widen their product portfolio and increase their capacity.
• Expand their dealer network in existing markets and enter new geographical market. Enhance their position in Wires and Cables Industry

• Funding the capital expenditure towards setting up a new manufacturing unit for house wires, fire-resistant wires & cables, aluminum cables, and solar cables to expand the product portfolio.
• Funding the working capital requirements of the company.

• General Corporate Purpose.

The company is operating in a highly competitive segment with many big players around. It marked steady growth in its top and bottom lines for the reported periods, the issue appears fully priced based on its FY23 earnings. Hence, investor may apply for medium to long term basis.