Polycab reports stellar numbers, stock shines

Polycab reports stellar numbers, stock shines

Amir Shaikh
/ Categories: Trending

In the second quarter of FY20, Polycab’s consolidated revenue surged 24 per cent YoY to Rs. 2241.9 crore. This was mainly led by strong growth across segments. Its wires and cables business grew 20 per cent to Rs. 1881 crore in Q2FY20 from Rs. 1565.6 crore in Q2FY19. Notably, the FMEG (fast moving electronic goods) business increased strongly by 42 per cent to Rs. 195.6 crore in Q2FY20 from Rs. 138.1 crore in Q2FY2019.

EBIDA for the quarter was at Rs. 206.7 crore as compared to Rs. 107.7 crore in the corresponding quarter of previous year, representing ~92 per cent growth. EBITDA margin for the period improved 327 bps to 9.22 per cent.

Profit after tax in Q2FY20 more than doubled to Rs. 193.8 crore from Rs. 89.5 crore in Q2FY19. Notably, PAT margin too improved 370 bps to 8.6 per cent

Further, the company recorded 222 bps and 778 bps improvement in ROCE and ROE to 26.3 per cent and 22 per cent for Q2FY20 respectively.

With response to this stellar performance, the stock of Polycab surged on the bourses by nearly 7 per cent to touch 52-week high of Rs. 837 apiece.

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