Polycab India net profit rises 11.5% to ₹464 crore, revenue up 20.4%

In the year-ago period, the post-tax profit stood at ₹416.51 crore.

Revenue from operations surged 20.4% to ₹5,226.06 crore in the latest October-December quarter, compared to ₹4,340.47 crore in Q3 FY24.

Earnings before interest, taxes, depreciation, and amortisation (EBITDA) grew 26.5% to ₹721 crore in the quarter under review as against ₹570 crore in the December quarter of FY24. The EBITDA margin was 13.8%, up 80 basis points (bps).

Polycab India share price

Following the earnings announcement, shares of Polycab India were trading 7.72% lower at ₹6,053.25 apiece on the NSE.

The company said that the wires and cables (W&C) segment posted a 12% year-on-year growth for the reporting quarter. It said that the demand for cables was healthy; however, the decline in copper prices and high channel inventory of wires at the start of the quarter led to a slowdown in the wires business.

The fast-moving electronic goods (FMEG) segment registered a strong 45% YoY growth, while other businesses reported a 111% YoY growth.

The company expects the W&C business to grow 1.5 times and the FMEG segment to grow 1.5 times to 2 times over the next five years. Wires and cables EBITDA guidance is 11% to 13%.

Commenting on the performance, Inder T Jaisinghani, Chairman and Managing Director, Polycab India, said, "We are thrilled to announce that we have concluded 2024 on a robust note, achieving our highest-ever revenues for both the third quarter and the nine-month period. This outstanding performance was driven by strong growth across all segments, underscoring our strategic execution and unwavering commitment to excellence."

"Notably, we have achieved a remarkable milestone of successfully surpassing our first five-year guidance of reaching a ₹200 Bn top-line by FY26 ahead of time — delivering ₹210 Bn in revenue for calendar year 2024," he added.