Plaza Wires Ltd - Stock Valuation and Financial Performance

The company was originally incorporated as ‘Navratna Wires Private Limited’ as a private limited company under the provisions of the Companies Act, 1956, pursuant to a certificate of incorporation dated August 23, 2006 issued by the Registrar of Companies, National Capital Territory of Delhi and Haryana. Pursuant to a special resolution passed by the shareholders of the company at the extra-ordinary general meeting held on October 10, 2007, the name of the company was changed to Plaza General Cable Wire and a fresh certificate of incorporation dated October 26, 2007 was issued to the company by the Registrar of Companies, National Capital Territory of Delhi and Haryana. Pursuant to a special resolution passed by the shareholders of the company on December 26, 2008, the name of the company was changed to ‘Plaza Wires Private Limited’, and a fresh Certificate of Incorporation reflecting the new name was issued by the Registrar of Companies, National Capital Territory of Delhi and Haryana on February 06, 2009. Thereafter, the company was converted to a public limited company, pursuant to a special resolution passed by the company’s shareholders on December 29, 2021 and the name of the company was changed to ‘Plaza Wires Limited’ and a fresh certificate of incorporation dated March 10, 2022 was issued to the company by the Registrar of Companies, Delhi. 

Plaza Wires' business was started with a vision to create a niche in the domestic wire and cable industry with an approach to provide quantitative and qualitative products at competitive prices to customer for various socio-economic backgrounds. In 2021, it launched a line of house wire under the brand ‘Action Wires’ for product at economical price range. The company’s key products in the wires and cables segment are building wires also known as house wires, single & multicore round flexible industrial cables and industrial cables for submersible pumps & motors up to 1.1kv grade. For other wires and cable products such as LT power control cable, TV dish antenna co-axial cables, telephone & switch board industrial cable, computer & LAN networking cable, close circuit television cables and solar cables, PVC insulated tape and PVC conduit pipe & accessories, it enters into informal arrangements with third-party manufacturers who manufacture its products based on its requirements.

The company selects and evaluate these third-party manufacturers based on certain criteria including the quality of products produced, reputation and delivery standards. Its products are compliant with various quality standards including Bureau of Indian Standards (BIS) and QCL Certification. In 2016 and onwards, it entered into arrangements with third-party manufacturers and launched FMEG products such as electric fans, and water heaters. As part of after sales service for electric fans, it has tie ups with many service centres in Uttar Pradesh, Uttarakhand, Jammu and Kashmir, Punjab, Haryana and Tamil Nadu. In 2021, it expanded its product portfolio by launching miniature circuit breakers and distribution board (DB) in the north and south India region. 

Business area of the company

The company is engaged in the business of manufacturing and selling wires, and selling and marketing LT aluminium cables and fast moving electrical goods (FMEG) under its flagship brand ‘PLAZA CABLES’ and home brands such as ‘Action Wires’ and ‘PCG’.

Awards and Recognition 

• 2020: Recognized as amongst the ‘10 Most Promising Electrical Cable Manufacturers’ by the Industrial Outlook Magazine.
• 2021: Awarded the Time2Leap award in the product category of ‘Quality Products - Electrical Cables’ by Summentor Pro.

Major events and milestones

• 2006: Incorporation of the company with the name “Navratna Wires Private Limited”.
• 2009: Ventured into the marketing and sales of Aluminium Cables through third-party manufacturers under its home brand ‘Plaza Cables’.
• 2009: Purchase of land, building, plant & machinery and other misc. fixed assets from Sonia Gupta, then partner of Plaza Electrical Industries for consideration other than cash.
• 2011: Ventured into the marketing and sales of PVC Conduit Pipes and Accessories through third-party manufacturers under home brand ‘PCG’.
• 2010: Ventured into the marketing and sales of PVC Insulated Tapes for the retail market through third-party manufacturers under home brand ‘PCG’.
• 2016: The company expanded its operations by entering the market in southern India having started with Kerala expanding to Tamil Nadu and Karnataka.
• 2017: Launch of the 3D Wires which have triple layer bunching and triple coating of PVC.
• 2018: Ventured into the marketing and sales of ceiling fans, ventilation fans, TPW fans, exhaust fans and farrata fans through third-party manufacturers under its home brand ‘Plaza Cables’.
• 2021: The company launched miniature circuit breakers and distribution boards. It also a new type of economical wire under the brand viz. “Action Wires” to fill the gap for a quality product at an economical price.