India: Adani’s Kutch Copper forms JV with Praneetha Ventures for cable, wire business

• Move to boost Adani’s presence in industrial manufacturing
• Kutch Copper also investing $1.2 bn to build smelter in Mundra

Adani Enterprises Ltd., through its wholly owned subsidiary Kutch Copper Limited (KCL), has partnered with Praneetha Ventures Private Limited to form Praneetha Ecocables Limited (PEL). This joint venture will focus on the manufacturing, marketing, and distribution of metal products, wires, and cables, expanding Adani’s presence in the industrial and infrastructure sectors.

Praneetha Ecocables Limited

Praneetha Ecocables Limited (PEL) is a 50:50 joint venture between Adani Enterprises’ subsidiary Kutch Copper Limited and Praneetha Ventures Private Limited. The company is dedicated to manufacturing high-quality copper cables and wires, catering to diverse industrial and infrastructure needs. With the backing of Adani’s robust supply chain and Praneetha Ventures’ industry expertise, PEL aims to focus on product innovation, cost optimisation, and market penetration.

India’s copper wire, cable market landscape

India’s per capita copper consumption (0.6 kg) remains far below the global average (3.2 kg), highlighting significant growth potential. With annual copper wire imports at 150,000 tonnes, boosting domestic production is crucial.

The market is seeing increased competition with Praneetha Ecocables’ entry, backed by Adani Enterprises. Following the announcement, shares of Polycab, KEI Industries, Havells, and RR Kabel declined, reflecting market concerns over Adani’s aggressive expansion in the sector

Downstream segment, expansion plans

Kutch Copper Limited is investing $1.2 billion in a cutting-edge smelter in Mundra, Gujarat, with an initial 0.5 million tonnes per annum (MTPA) capacity, which will be later expanded to 1 MTPA. This will make it the world’s largest single-location smelter, ensuring a steady copper supply for Praneetha Ecocables and other industries, optimising costs, and enhancing supply chain efficiency.

UltraTech Cement Diversifies into Wires & Cables

UltraTech Cement is investing INR 1,800 crore to set up its first wires & cables plant near Bharuch, Gujarat, operational by December 2026. This move expands its building products division, aligning with its strategy to become a comprehensive building solutions provider beyond cement. The board approved the plan, marking a major diversification.

Outlook

With India’s infrastructure and energy sectors growing rapidly, Praneetha Ecocables Limited (PEL) is well positioned to capitalise on the rising demand for high-quality cables and metal products. Backed by Adani’s market expertise, PEL will be focused on scaling production, expanding distribution, and investing in innovation. This joint venture is set to strengthen Adani’s presence in the industrial manufacturing sector while driving sustainable growth and enhancing operational synergies.