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


Polycab Investor Presentation

Polycab Concall Recording