Polycab Q2 FY23 Results Key Highlights
- In Q2 Consolidated Revenue 10.8% and Net Profit up 37% YoY
- EBITDA Margins at 12.8% from 9.7% YoY
- Net Cash Position Rs.16.7 Bn from Rs.8.7 Bn YoY
- Wire & Cable revenue growth 13%
- Strong Export growth of 75% YoY led by USA, Europe and Asia. Strong demand from Oil & Gas, Renewables and Infra. Export is 13% of Consolidated Revenue of Q2 FY23.
- De-growth in FMEG Business 12% YoY
- B2B Vs B2C is 62:38 in FY22 from 66:34 in FY19
- Business contribution from Dealers & Distributors (84%), Institutions (8%) and Export (8%) in FY22
- Growth in Revenue is driven by volume growth mainly from wire and cable business
- Price Reduction due to decrease in commodity price is lower than benefitted from procurement of raw material
- 400 Cr Capex is expected in this year too. 2/3rd for Wire & Cable and 1/3rd for FMEG
- Will use cash in Capex, M&A & keep increasing dividend payouts
- Export business is sustainable and having similar margins
- Rural focused new Brand Etira contributing double digit growth in Retail wire business
- Capacity Utilization in Wire & Cable is 65% to 70%
- Project Leap Progress
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