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The crisis of increasing numbers of young people neither wanting to work or learn

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Business Live

The findings of an interim report on young people and work from former Labour minister Alan Milburn is both bleak and frightening for all of us.

Former health secretary Alan Milburn speaks to the media on the publication of the interim Milburn Report into Young People and Work, at West Library Youth Employment Hub, north London.

Former health secretary Alan Milburn speaks to the media on the publication of the interim Milburn Report into Young People and Work.(Image: Jeff Moore/PA Wire)

There are moments when a government report hits hard, not because it says something entirely new, but because it brings together what many have been seeing and saying for years and gives it the urgency it deserves.

The interim report on young people and work from former Labour minister Alan Milburn is one such document, and its findings are both bleak and frightening for all of us. Currently, nearly one million young people aged 16 to 24 in the UK are NEETs (not in education, employment or training), a figure so large that, if they formed a city, it would be two and a half times the size of Cardiff.

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More troubling still, this is no longer simply a story of youth unemployment in the traditional sense, where young people are looking for work but unable to find it. The deeper problem now is detachment, with a growing proportion of young people neither wanting to work nor learn, nor actively seeking a job.

That distinction matters because unemployment can fluctuate with the economic cycle, whereas inactivity is harder to shift. Once a young person falls out of education, employment and training, especially for health-related reasons, the evidence suggests they can remain detached for years, with the report saying that almost eight in ten young people who became health-related inactive between 2017 and 2019 were still NEETs more than two years later.

The most striking shift is the role of health, particularly mental health. In 2015, just over a quarter of NEET young people reported a work-limiting health condition, but ten years later that had risen to 44 per cent.

Among disabled young people who are NEET, mental health has become a defining issue, with anxiety, depression, neurodevelopmental conditions and wider distress increasingly shaping whether a young person can make the transition from school or college into work.

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This is not a soft excuse but a profound change in the conditions facing a generation that has grown up through austerity, a pandemic, social media saturation, insecure housing prospects and a labour market that often demands experience before it is willing to offer any.

Yet the report is careful not to place the blame on young people themselves, and one of its most important conclusions is that the caricature of a lazy or work-shy generation collapses when tested against the evidence. In a survey carried out for the review, 84% of NEET young people said they wanted to find a job, education or training, with many having applied for dozens of roles and heard nothing back.

However, they face automated recruitment systems, online portals, psychometric tests and entry-level jobs that somehow require prior experience. The old route of walking into a shop, speaking to a manager and being given a chance has been replaced by a colder, more remote hiring process.

The problem is that the UK lacks a coherent participation system for young people that is accountable for ensuring they move successfully from education into sustained employment or further learning.

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Schools are judged largely on exam results, colleges are funded on numbers, retention and completion, and welfare replaces income but does not always build capability. Everyone sees part of the young person, but too often nobody owns the whole journey.

For Wales, this report should be taken particularly seriously, as our own NEET figures are already deeply worrying. The latest statistics show that 17% of 16- to 24-year-olds in Wales are not in education, employment or training, higher than the UK average. That is not a marginal issue but one affecting one in six young people, a massive social and economic problem, and, if we are honest, a failure of national ambition.

The Welsh dimension is complicated because responsibility is divided. Whilst education, health, social care, Careers Wales and local welfare assistance are devolved, social security, the National Minimum Wage and Jobcentre Plus remain largely reserved to Westminster, with employment support sitting awkwardly between the two governments.

This means that a young person at risk of becoming NEET in Wales may pass through school, college, Careers Wales, a local authority, the NHS, a Welsh Government employability programme, DWP, Jobcentre Plus and the voluntary sector. As a result, no single body is ultimately accountable for whether that young person gets into work, training or further education and stays there.

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Worst still, nothing will change if we have individual programmes, however well-intentioned, operating as separate interventions rather than as part of a single participation system.

The economic consequences are clear, and as we all know, Wales already faces long-standing challenges in productivity, inactivity, skills and income. So, if we are serious about building stronger sectors such as advanced manufacturing, energy and tourism, we cannot afford to allow such a large share of the next generation to drift out of the labour market before their adult lives have properly begun.

So what should Wales do? First, we need to start earlier, as the warning signs are as clear as day – persistent absence, low attainment, additional learning needs, family poverty, caring responsibilities, poor mental health and limited exposure to work – yet little is done to address them properly.

Second, we need a far stronger bridge between school, college and work, with proper work experience, employer engagement and vocational pathways treated as central to education rather than peripheral extras. Third, mental health support must be linked to participation, not simply diagnosis and waiting lists and the question should not only be “what is wrong?” but “what support would help this young person take the next step?”

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Above all, Wales needs a national youth participation strategy that is owned across government, local authorities, colleges, schools, health boards, employers and the voluntary sector, with one clear test of success: are more young people moving into sustained work, training or education?

Indeed, the real challenge is not that young people have given up on work, but that, too often, the system has given up on them, and for Wales, that should be when the findings of this impactful report turn into real action.

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Thailand Business Update: Economic Developments and Investment Trends

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ASEAN Headlines Update - Thailand Business News

Thailand has been at the center of a wide range of international headlines recently, spanning diplomatic apologies, security incidents, economic developments, and cultural milestones. This roundup captures the most significant stories shaping the country’s global image and domestic priorities.

Diplomatic Incident: Italian Students’ Bangkok Metro Controversy

A viral incident involving Italian exchange students behaving badly on Bangkok’s metro system dominated headlines this week. The Italian embassy issued a formal apology after footage showed teenagers disrupting a local passenger, sparking widespread outrage across Thai social media. The case was ultimately settled through apologies and fines, with the Italian school also apologizing to the broader Thai public for the embarrassment caused. The incident underscores the importance Thailand places on public decorum and respect toward locals, especially from foreign visitors and students studying in the country. Read more on Thailand Business News

Security and Border Tensions

Thailand continues to navigate serious security challenges on multiple fronts. Five soldiers were killed in an attack at a checkpoint in southern Thailand, highlighting ongoing insurgent violence in the region. Simultaneously, Thailand is pressing forward with a border fence project along the Cambodian frontier following clashes in 2025, while Cambodian officials have acknowledged that the ceasefire between the two nations remains fragile. These developments reflect persistent instability in Thailand’s border regions, requiring sustained military and diplomatic attention.

Economic Developments and Investment Trends

Thailand’s economy is experiencing notable shifts, particularly in foreign investment and technology sectors. Foreign investment applications jumped 80% to $40.6 billion, driven largely by the ongoing AI boom. This surge is complemented by growing China-Thailand technology cooperation, aimed at fostering a “prosperous shared future.” However, not all economic indicators are positive—industrial output shrank the most in seven months, and the Bank of Thailand forecasts modest 2.3% growth while warning that rising debt could affect the broader economy. Additionally, Thailand has decided to keep its value-added tax steady at 7% for another year, signaling a cautious approach to fiscal policy amid economic uncertainty. See related coverage on Thailand Business News

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Cybersecurity Challenges

The financial sector faces mounting cybersecurity threats. Thailand’s SEC has filed a criminal complaint against Bitkub, alleging the crypto exchange concealed a cyberattack that resulted in a $47-50 million hack. Separately, hackers reportedly used an autonomous AI agent to spy on Thailand’s Finance Ministry, raising alarms about the sophistication of cyber threats targeting government institutions. In response, Thailand is strengthening international partnerships, including a new cybersecurity collaboration between the Bank of Thailand and Singapore’s MAS.

Automotive and Manufacturing Shifts

Thailand’s automotive industry is undergoing significant transformation as Chinese EV manufacturers gain ground, prompting the country to cut its vehicle output targets. This shift reflects broader trends discussed in coverage of how domestic EV policy is reshaping the global automotive hierarchy, with China and Thailand positioned as emerging leaders in electric vehicle production and adoption.

Wellness, Tourism, and Cultural Heritage

Thailand continues to position itself as a premier wellness and tourism destination. The country aims to become one of the top five wellness economies in the Asia Pacific region by 2030, backed by investments in luxury wellness experiences that go “beyond the spa day.” Tourism infrastructure is also evolving, with new alliances modernizing the passenger journey and airport operations across the country.

Culturally, Thailand celebrated its ninth UNESCO World Heritage site, with a monastery added to the prestigious list, boosting tourism prospects. UNESCO officials are also scheduled to visit Chiang Mai to evaluate its Lanna heritage bid, alongside ongoing efforts to secure recognition for Wat Arun. These heritage designations are expected to further elevate Thailand’s appeal as a cultural tourism destination. Explore more tourism insights on Thailand Business News

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Sports and Entertainment

Thailand’s sports scene saw notable activity, including Tyson Fury’s unaired fight against Mariusz Wach held in the country ahead of his anticipated bout with Anthony Joshua. In regional competition, Vietnam claimed the Men’s SEA Volleyball Cup title over Thailand, while the Thai football team posted a five-goal victory over Laos. Additionally, Formula 1 continues expanding its presence across Southeast Asia, with Thailand playing a role in this growing motorsport footprint.

Infrastructure and Regional Cooperation

Thailand is advancing several major infrastructure initiatives. The country has paused its ambitious $28 billion Land Bridge project for now, while simultaneously targeting 2030 for the completion of the first phase of a high-speed rail link to China. These projects reflect Thailand’s long-term strategy to enhance regional connectivity and trade logistics.

Social and Humanitarian Concerns

Amid the business and political news, human stories also emerged. A woman was forced to deliver her baby prematurely at 33 weeks while in Thailand due to life-threatening complications, highlighting healthcare challenges faced by travelers. Meanwhile, human rights organizations have called on Thailand not to forcibly return Chinese dissidents, raising concerns about the country’s treatment of political refugees.

Conclusion

Thailand’s news landscape reflects a nation balancing rapid economic modernization, persistent security challenges, and a strong cultural and tourism identity. From diplomatic incidents to AI-driven investment surges, the country continues to navigate complex domestic and international pressures while positioning itself as a regional leader in technology, wellness, and heritage tourism.

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Source : Google News – Search

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Bali Ha'i boss accused of $676k stealing spree

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Bali Ha'i boss accused of $676k stealing spree

Former Bali Ha’i Cruises director and general manager Colin Beeck is fighting allegations he illegally transferred more than $670,000 out of a company bank account in a four-year stealing spree.

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Global AI Stock Selloff Deepens as Kospi Plunges Over 10%, Chipmakers Tumble Across Asian Markets This Week

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Artificial Intelligence / AI

A rout in global chipmakers deepened Tuesday, as fears over the durability of the artificial intelligence boom intensified ahead of earnings results from some of Silicon Valley’s biggest companies later this week.

South Korea’s Kospi led declines across Asia, falling more than 10% and prompting a short halt in trading, after investors dumped shares in the country’s two leading memory-chip makers.

Korean Chipmakers Bear the Brunt

Shares in SK Hynix fell 14.7%, while its larger rival, Samsung Electronics, dropped 13.4%. The two companies have tumbled 42% and 34%, respectively, in July alone, marking one of the sharpest monthly declines either stock has experienced in years.

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The selloff extended across other major Asian markets as well. In Tokyo, the Nikkei 225 fell 4.4%, with memory-chip maker Kioxia plunging more than 18%, a decline that has cut the company’s share price in half over the course of this month’s selloff. In Europe, ASML, the world’s biggest maker of chip-manufacturing equipment, fell 2.2%.

A Sharp Reversal for Stocks That Powered the Market Higher

The scale of the reversal stands out given how central these same stocks were to global market gains earlier in the year. Chip and memory stocks, which powered global markets higher in the first half of the year as investors bet they would be the biggest beneficiaries of vast AI spending, have borne the brunt of a brutal selloff in recent weeks.

Analysts pointed to mounting anxiety around the financial sustainability of the AI infrastructure buildout as the central driver behind the reversal. Venu Krishna, head of U.S. equities strategy at Barclays, said worries around funding uncertainties, capital expenditure increases and Big Tech free cash flow have taken center stage for investors.

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Wall Street Selling Spills Into Asia

Tuesday’s declines in Asia followed another difficult session for chip and memory stocks on Wall Street a day earlier. Monday’s trading saw memory company SanDisk fall 11% and chipmaker Nvidia drop 5%, with futures tracking the Nasdaq 100 pointing to a further 0.8% drop at Tuesday’s open.

Big Tech Earnings Add to the Nerves

The selloff comes as Wall Street enters the heart of second-quarter earnings season, with major technology companies scheduled to report results this week. Tech giants Microsoft, Meta, Apple and Amazon are all set to deliver reports later this week, and investors are parsing early results for signs of whether massive AI-related spending will ultimately prove sustainable.

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That nervousness was already on display last week following one major tech company’s results. Alphabet’s share price dropped 7% in a single day last week, following the company’s announcement that Google had burned through cash in the second quarter to fund AI infrastructure spending.

Diverging Views on Whether the Selloff Is Overdone

Not all market strategists agree on how to interpret the current wave of selling. Marija Veitmane, head of equity research at State Street, said the market is worried about extra borrowing, extra capital expenditure and how sustainable current spending levels really are, describing the negative momentum as building into a “spiral.” Despite that caution, Veitmane also struck a more optimistic note about underlying demand, telling reporters that reading through the results reported so far, demand still appears fantastically strong, and that for her, the current pullback represents a buy-the-dip opportunity.

Other investors were more skeptical about the sustainability of current spending trends. Albert Saporta, group chief executive of asset manager GAM, attributed the moves to a realization that the current AI capital expenditure frenzy will end up in a bust, much like previous spending cycles across other industries. Saporta added that rising prices for credit default swaps tied to companies including Oracle, SpaceX, Alphabet, Amazon, Meta, Broadcom and Nvidia pointed toward a broader investor reckoning over the AI spending plans of major U.S. technology firms.

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Chinese Competition Adds to the Anxiety

Beyond concerns about spending sustainability, growing evidence of Chinese progress in AI development has added another layer of unease for investors. Jim Reid, an analyst at Deutsche Bank, said renewed worries over AI investment spending and competition from cheaper Chinese companies triggered another selloff in global semiconductor stocks Tuesday morning.

That anxiety was fueled in part by a notable development from a Chinese AI startup last week. Chinese AI startup Moonshot last week released a large language model which appeared to have capabilities approaching those of frontier U.S. labs such as Anthropic, a development that rattled investors betting that Silicon Valley’s biggest companies would need to maintain vast spending levels to stay ahead of emerging competition.

CXMT’s Blockbuster Debut Cools Off

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The Chinese chip sector’s own volatility was also on display Tuesday, following a dramatic stock market debut a day earlier. In China, shares in memory-chip maker CXMT fell more than 4% on Tuesday, a day after it raised $8.5 billion in a blockbuster listing in Shanghai. Its shares had risen 466% on Monday.

A Steep Fall From SK Hynix’s Recent Peak

The scale of SK Hynix’s decline becomes even more apparent when measured against its recent highs. The Seoul-listed shares of SK Hynix have plunged nearly 50% since hitting a record high of around 3 million won, or roughly $2,000, in June, after the stock had tripled in value earlier this year before peaking.

Traders Describe an Unusually Violent Selloff

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Market participants in Tokyo described the speed of the recent decline as unlike anything they had recently witnessed, attributing part of the move to rising interest rates unwinding momentum and retail-driven positions. One senior equities trader said they could not remember seeing anything this bad or violent in recent memory.

The scale of the Kospi’s pullback over the past month has been substantial. The Kospi’s decline on Tuesday means the index has fallen about 25% over the past month and is down a third from its June peak, though it remains 46% higher for the year to date.

Oversupply Fears Compound the Selloff

Beyond near-term valuation concerns, some investors are also growing wary of longer-term oversupply risk as chipmakers continue announcing aggressive expansion plans. SK Hynix and Samsung plan to build two new chip plants apiece in South Korea as part of a combined 800 trillion won, or roughly $548 billion, investment aimed at doubling their production capacity for DRAM chips over the next five years. U.S. rival Micron Technology has raised its own planned domestic investment to $250 billion through the end of 2035.

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A Fed Decision Looms

Adding to the uncertainty, investors are also bracing for a Federal Reserve interest rate decision on Wednesday, a potential additional trigger for volatility. Traders remain divided on whether the central bank will hold rates steady or move to raise the benchmark interest rate at this week’s meeting.

With major technology earnings due throughout the week and the Federal Reserve’s rate decision looming Wednesday, investors are likely to remain on edge as they weigh strong underlying AI demand against mounting concerns about spending sustainability, competitive pressure from China, and the risk of a broader capital expenditure overshoot across the chip and memory sector.

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Coca-Cola (KO) Q2 2026 earnings

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Coca-Cola (KO) Q2 2026 earnings

A trader works on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., July 20, 2026.

Brendan McDermid | Reuters

Coca-Cola on Tuesday reported quarterly earnings and revenue that topped Wall Street’s estimates, fueled by higher demand for its drinks.

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The company also hiked its full-year forecast. Coke is now projecting comparable earnings per share growth of 9% to 10%, up from its prior forecast of 8% to 9%. It also expects organic revenue to increase about 5%, on the high end of its earlier range of 4% to 5%.

Shares of Coke rose more than 2% in premarket trading.

Here’s what the company reported compared with what Wall Street analysts surveyed by LSEG were expecting:

  • Adjusted earnings per share: 97 cents, vs. expected 93 cents
  • Revenue: $13.38 billion, vs. $13.16 billion expected

Coke reported second-quarter net income of $4.43 billion, or $1.03 per share, up from $3.81 billion, or 89 cents per share, a year earlier.

Excluding asset impairments, restructuring costs and other items, the company earned 97 cents per share.

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Net sales rose 7% to $13.38 billion.

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At Close of Business podcast July 28 2026

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At Close of Business podcast July 28 2026

Jack McGinn and Sam Jones discuss calls by a WA skilled migration expert.

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Wall Street's AI CapEx Concerns Overlook Demand-Supply Outlook

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Wall Street's AI CapEx Concerns Overlook Demand-Supply Outlook

Wall Street's AI CapEx Concerns Overlook Demand-Supply Outlook

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TransUnion earnings beat by $0.08, revenue topped estimates

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TransUnion earnings beat by $0.08, revenue topped estimates

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Hyperscalers: A ‘Toxic Waste’ Investment

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Cipher Digital: Taking Advantage Of An Expensive, Volatile Stock Through Options (NASDAQ:CIFR)

This article was written by

Commodity Trading Adviser (CTA), member of National Futures Association. Professor of Finance, research on Global-macro issues. Editor-in-Chief, Journal of Corporate Accounting and Finance.

Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha’s Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

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The way you look can help you get a job – here's how

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A woman with long, blonde hair talks into a microphone

While you need to answer the questions in an interview, your appearance and mannerisms are also crucial.

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RR Kabel shares jump 10% as Q1 PAT surges 129% YoY, Ebitda doubles

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RR Kabel shares jump 10% as Q1 PAT surges 129% YoY, Ebitda doubles
Shares of RR Kabel jumped nearly 10% to an intraday high of Rs 2,775 on the NSE after the company posted a 129% year-on-year jump in PAT, while Ebitda nearly doubled in the first quarter of FY27.

According to the company’s exchange filing, profit after tax (PAT) rose to Rs 2,052 crore in Q1 FY27 from Rs 897 crore in the corresponding quarter last year. On a sequential basis, PAT increased from Rs 1,679 crore in Q4 FY26.

Also Read | Stock Radar: R R Kabel stock takes support above 50-DMA after hitting record highs in June 2026; time to buy the dip?

The PAT margin improved by 212 bps YoY, reflecting sustained profitability improvement. Operating Ebitda increased 99% YoY, while the Ebitda margin expanded by 205 bps YoY, driven by an improved business mix, margin expansion, cost discipline and execution efficiencies.

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On a yearly basis, operating Ebitda increased from Rs 1,430 crore in Q1 FY26 to Rs 2,853 crore in Q1 FY27. The company also delivered its highest-ever quarterly revenue, which grew 54% YoY, led by healthy domestic demand and export growth.


In the Wires & Cables segment, revenue continued to outperform, growing 57% YoY on the back of impressive volume growth, strong execution and favourable industry dynamics.
Segment profit increased 105% YoY, driven by margin expansion and effective cost management. The segment margin expanded by 232 bps YoY, reflecting an improved product mix, disciplined commodity management and operating efficiencies.The FMEG segment also posted strong revenue growth, supported by continued demand for premium and new products across key categories, along with ongoing distribution expansion.

The segment achieved operational breakeven, marking a significant milestone in the FMEG business transformation. Its profitability improved substantially on a YoY basis, driven by premium products and operating leverage.

“We have started FY27 on a strong note with another quarter of record performance, reflecting the strength of our business model and disciplined execution across the organisation. Robust growth across our Wires & Cables business, coupled with healthy profitability, demonstrates our ability to capitalise on the strong demand environment while maintaining operational excellence,” said Mahendrakumar Kabra, MD, RR Kabel.

“Our strategic focus on expanding the cables portfolio, strengthening our distribution network and enhancing execution capabilities continues to yield encouraging results. We are also pleased to achieve operational breakeven in the FMEG business during the quarter, an important milestone that reflects the progress of our premiumisation strategy and sustained focus on improving operating efficiencies.”

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Also Read | Missed the smallcap recovery? Here’s what’s fuelling the 2026 surge and what to do now

“We remain confident in our ability to strengthen our market position, drive profitability growth and create long-term value for our stakeholders,” Kabra added.

Over the last one year, the stock has gained 1.26%. It has risen 36.50% over the last three years and nearly 70.37% over the past five years.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times.)

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