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.