Author: PPD Team Date: 23/01/2025
Polycab India Ltd reported a 12% YoY growth in its wires and cables segment for Q3 FY25. While cable demand remained strong, copper price declines and high channel inventory led to a slowdown in the wires business.
The international segment saw a remarkable 62% YoY growth, contributing 8.3% to total revenue. EBIT margins rose by 120 basis points QoQ to 13.5%, driven by normalised wires margins and the international business’ strong performance.
The EPC business posted 111% YoY growth, reaching Rs.4,573 million, supported by robust execution of its order book. The contribution from this segment is expected to stay in the mid-to-high single digits of consolidated revenue.
For 9MFY25, the wires and cables business grew by 15%, reaching Rs.1,27,967 million, with healthy distribution and institutional sales growth. The international business contributed 6.6% of consolidated revenue. Other businesses, mainly EPC, grew 200% YoY, reaching Rs.14,877 million, supported by strong order execution.
Chairman and Managing Director Mr. Inder T. Jaisinghani highlighted the company’s highest-ever revenues for both Q3 and 9MFY25. He also announced “Project Spring,” Polycab’s new vision to unlock growth potential for FY30, with a focus on continued industry leadership, government support, and internal transformation.