Polycab share price rises more than 4% after emerging as lowest bidder for BSNL project worth ₹4,099 crore

The stock rose as much as 4.18% to ₹6,910 apiece on the National Stock Exchange (NSE). At 11:05 am, it was up 2.6% to ₹6,801.5 per share.

The market capitalisation of the company stands at ₹1,02,301.67 crore.

On the BSE, the scrip was trading at ₹6,803.7 a unit, reflecting an increase of 2.6%.

Polycab emerges as lowest bidder for BSNL project worth ₹4,099 crore

This development comes after Polycab India emerged as the lowest bidder (L1) for ₹4,099 crore project from BSNL to "develop (creation, upgradation and operation & maintenance) of middle mile network of Bharat Net on design, build, operate and maintain (DBOM) model," the company said in an exchange filing.

The project's time period is three years for construction and 10 years for maintenance, at 5.5% per annum of the capex for the first five years and 6.5% per annum of the capex for the next five years.

Polycab India Q2 profit rises 3.4%

Polycab India reported a 3.4% increase in its consolidated net profit to ₹439.8 crore in the second quarter of the current fiscal. In the corresponding period year-ago, the post-tax profit stood at ₹425.5 crore.

Revenue from operations surged 30.4% to ₹5,498.4 crore in Q2 FY25, compared to ₹4,217.6 crore a year back.

The EBITDA margin for the September quarter stood at 11.5%, affected by intense competition in the wires and cables business.

Commenting on the financial performance, Inder Jaisinghani, Chairman and Managing Director of Polycab India, said, "We have concluded the first half of the financial year on a strong note, delivering our highest-ever second quarter and half-yearly revenues and profit, driven by robust market demand...Looking ahead, we expect the demand momentum to continue, supported by increased government spending, continued investment by private players and robust real estate offtake."