Marco Cables & Conductors is a manufacturer that turns copper, aluminium, and plastic into the wires and cables that carry electricity across India - from power stations to homes. It has been doing this for over 35 years, starting in 1989 as a private company making basic PVC and XLPE (cross-linked polyethylene, a tougher insulation) cables, and over three decades it added overhead conductors and aerial bunched cables to its range before listing on the NSE Emerge platform in 2023. The recurring approach is simple: qualify for government electricity-board tenders, build long-term relationships with those buyers, and then use that base to supply more sophisticated products to turnkey contractors - always competing on price in a market where price is the deciding factor. # Business segments A single engine - manufacturing wires, cables, and conductors for India's power grid - where the company competes on price, tender qualification, and long-standing customer ties. ## 1. Power cables and conductors: the wires that build India's electricity grid **The company makes the cables and overhead conductors that electricity boards and contractors use to transmit and distribute power, and its entire business rests on qualifying for government tenders on price.** - **A single product family, many specifications** - the portfolio spans single and multistrand cables, 1.1 KV XLPE and PVC power and control cables, FRLS (fire-retardant low-smoke) cables, AAAC and ACSR overhead conductors, and aerial bunched cables, all made to Indian and international standards. That means the company can supply everything from the insulated wire inside a building to the bare aluminium-alloy conductor strung between transmission towers. - **Tender qualification is the entry ticket** - the company qualifies in the BQR (Bill of Quantity Rate) of government tenders, which is how electricity boards across India buy their cable. Without that qualification, the company cannot even bid; with it, price becomes the deciding factor in most competitive situations, though product quality, brand value, and distribution network also matter. - **Long relationships unlock higher-margin work** - the company focuses on customers with whom it has long-standing relationships to develop and supply more sophisticated, higher-margin products. It is also expanding by forging partnerships with turnkey contractors, which opens a second channel beyond direct sales to electricity boards. - **Customisation as a differentiator** - the company offers customized product development, which helps it meet specific project requirements rather than competing only on standard catalogue items. In a market where the company itself believes there are not enough competitors offering similar services, this creates a wedge against both organised and unorganised rivals. - **Raw-material access determines delivery** - the company prioritises procurement of high-quality raw materials from trusted suppliers and states it has robust capacity and strategic linkages with raw-material suppliers to meet large and varied orders. Because revenue is recognised only when control transfers to the customer - at dispatch, delivery, or formal acceptance - reliable material supply is what turns a tender win into recognised revenue.