Comments
The shares of Polycab India Limited were trading at ₹6,880.85 down by ₹239.70 or 3.37 per cent on the NSE today at 11.10 am, a day after India’s wire and cable manufacturer, reported a 30 per cent year-on-year increase in revenue to ₹5,498.4 crore for the second quarter ended September 30, 2024. The company’s net profit rose 4 per cent to ₹445.2 crore, while EBITDA grew 4 per cent to ₹631.6 crore during the quarter.
The company’s wire and cable business, its primary segment, grew 23 per cent to ₹4,606.7 crore, driven by favorable commodity prices and strong demand. International business contributed 6.1 per cent to overall revenue, growing 36 per cent quarter-on-quarter.
The FMEG (Fast-Moving Electrical Goods) division recorded 18 per cent growth, supported by channel expansion and product improvements. The company’s EPC business saw significant growth of 241 per cent year-on-year, reaching ₹548.8 crore.
However, EBITDA margins declined to 11.5 per cent due to increased competition in the wire and cable business and higher advertising and employee expenses in the FMEG segment.
For the first half of FY25, Polycab crossed the ₹10,000 crore revenue milestone, with total revenue reaching ₹10,196.5 crore, up 26 per cent from the previous year. The company maintained a strong financial position with net cash of ₹2,430 crore as of September 30, 2024.
CRISIL has upgraded Polycab’s long-term bank facilities rating to “AAA/Stable,” reflecting its market leadership and growth prospects.
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.