Polycab Q1 FY24 Results Key Highlights

  • In Q1 Consolidated Revenue 42% and Net Profit up 81% YoY

  • EBITDA Margins at 14.1% from 11.3% YoY
  • Product Mix: Wire & Cable – 89%, FMEG- 8%, others – 3%
  • Geographical: Domestic Business – 91%, International Business – 9% with combined volume growth of 50% to 60%

  • Robust domestic demand supported by govt measures, improving private capex, strong real-estate off-take.
  • Cable growth continue to outperform wire growth
  • International business revenue grew by 88% YoY. Company expanded its global footprint to 72 countries.

  • Weak consumer demand in FMEG segment.
  • Negative EBIT from FMEG segment due to lack of scale with fixed cost and A&P spends

  • Expecting to achieve 10% EBITDA margins by FY26 from FMEG segment
  • Net Cash Position Rs.10.13 Bn as against Rs.5.9 Bn YoY but was Rs.18.9 Bn last quarter. Cash will be utilized for Capex, dividend payment and any M&A opportunity.
  • Capex guidance Rs.600 Cr yearly.

Source:

Polycab Investor Presentation

Polycab Concall Recording