Author: PPD Team Date: 18/10/2024
Polycab India Ltd reported significant growth in its wire and cable business for Q2 FY25 (July to September). The company’s wire and cable revenue rose 23% year-on-year to Rs 46.07 billion, driven by favorable commodity prices and strong market demand.
Domestically, the institutional segment surpassed distribution, and wires outperformed cables. Internationally, the business saw a 36% quarter-on-quarter increase, contributing 6.1% to Polycab’s total revenue. However, EBIT margins dropped to 12.3%, impacted by increased competition and reduced contribution from the domestic distribution segment.
Inder T. Jaisinghani, Chairman & Managing Director, noted the company’s strong performance, citing robust market demand and favorable conditions, including government spending and private investments. He expressed optimism for sustained growth.
In the EPC segment, Polycab’s revenue soared 241% year-on-year to Rs 5.49 billion due to strong execution of orders. The company expects this segment to contribute in the mid-to-high single digits to its consolidated revenue moving forward.