Manthan – Consumer Durables – W&C Sector – Data centre led growth opportunity
Published on 24 Feb 2026
India’s data center industry is witnessing strong capacity expansion, which is emerging as a meaningful growth driver for the cables segment within the wires & cables (W&C) industry. Based on data center EPC cost structures, electrical cables consistently account for around 10% of total cost per MW. With total EPC cost ranging from Rs200–225mn per MW depending on project scale, cable cost works out to roughly Rs20–22.5mn per MW. This stable cost proportion makes cable demand directly linked to data center capacity additions. At an estimated EPC capex requirement of Rs 225mn per MW, the incremental 2,058 MW capacity addition implies a total EPC data center capex of approximately Rs 464bn over FY25–FY30. Given that Wires & Cables (W&C) account for around 10% of total EPC data center capex, this translates into an opportunity of nearly Rs 46bn for the W&C sector during the same period.
