Polycab India outperforms due to positive results!

The shares of Polycab India surged to 4.76 per cent on BSE after the company announced its quarterly results for Q1FY23. Polycab India is a top gainer of BSE Capital Goods index today. 

The shares of Polycab India Ltd surged to 4.76 per cent on BSE after the company announced its Quarterly Results for Q1FY23. Polycab India is a top gainer of BSE Capital Goods index today. Its revenue stood at Rs 2,780.9 crore, growing by 48 per cent YoY with broad-based growth across segments & markets. Profit before tax for Q1FY23 was reported at Rs 294.7 crore, marking a 203 per cent rise from Q1FY22. The net profit also soared 195.7 per cent to Rs 222.54 crore for the quarter ended on June 30, 2022, as compared to the same period, a year ago.  

EBITDA margin improved 420 bps YoY to 11.3 per cent, led by calibrated price hikes and better operating leverage.  

Its wires & cables business saw a strong growth of 48 per cent YoY. While its domestic distribution-driven business sustained its strong growth momentum, institutional business improved its performance compared to the same quarter last year. Export contributed 6.7 per cent to consolidated revenue & posted healthy revenue growth of 62 per cent YoY.  

The company’s FMEG business grew by 59 per cent YoY to Rs 305.2 crore. Lighting, switchgear, and pump continued their strong growth momentum while fans, conduit pipes & solar business posted healthy growth. However, switches saw a decline due to supply challenges. The company remains committed to achieving Rs 20000 crore in sales by FY2026.  

Polycab India Limited (PIL) is India’s largest manufacturer of wires & cables and one of the fastest-growing FMEG companies with a consolidated turnover of over Rs 12200 crore in FY22. PIL is at the forefront of providing innovative, safe & energy-efficient products to a diverse set of customers via a strong distribution network of more than 4,600 authorised dealers and over 2,05,000 retail outlets. PIL’s business operations span across India via 23 manufacturing facilities, over 15 offices, and 25 plus warehouses.  

Also read: https://www.dsij.in/dsijarticledetail/polycab-pat-trebles-share-zooms-4-per-cent-volumes-hits-the-roof-25583-1