Polycab India Ltd. Company History and Annual Growth Details

In 1964, Late Thakurdas Jaisinghani had established ‘Sind Electric Stores’, which dealt in various electrical products including fans, lighting, switches, and wires. Subsequently, the family business was managed from 1968 by Girdhari T. Jaisinghani, Inder T. Jaisinghani, Ajay T. Jaisinghani and Ramesh T. Jaisinghani being sons of Late Thakurdas Jaisinghani. Ajay T. Jaisinghani and Ramesh T. Jaisinghani along with certain members of the promoter group founded a partnership firm in the name of ‘Thakur Industries’ under the Indian Partnership Act, 1932. Subsequently, the partners of ‘Thakur Industries’ entered into a lease agreement with MIDC in 1975 in respect of a parcel of land at Andheri, Mumbai for the purposes of setting up a factory for manufacturing cables and wires which was in operation until 1984. In 1983, ‘Polycab Industries’, a partnership firm founded by Inder T. Jaisinghani, Ajay T. Jaisinghani, Ramesh T. Jaisinghani, and Girdhari T. Jaisinghani, was registered as a small scale industrial unit by the Directorate of Industries, Government of Gujarat in respect of a factory located at Halol for manufacturing/processing activity of ‘PVC insulated wires and cables, copper and aluminium and bare copper wire.

In 1998, ‘Polycab Industries’ was subsequently converted into a private limited company as ‘Polycab Industries Private
Limited’ under the Companies Act, 1956. Polycab Industries Private Limited was subsequently amalgamated with The Company in 2011.

On January 10, 1996, The Company was incorporated as ‘Polycab Wires Private Limited’ at Mumbai as a private limited company under the Companies Act, 1956. On June 30, 2000, The Company became a deemed public limited company under Section 43A(1) of the Companies Act, 1956, and the word ‘private’ was struck off from the name of The Company with effect from June 30, 2000. Thereafter, The Company was converted into a private limited company under section 43A(2A) of the Companies Act, 1956, and the word ‘private’ was added in the name of The Company with effect from June 15, 2001. Later, The Company was converted into a public limited company, the word ‘private’ was struck off from the name of The Company and consequently, a fresh certificate of incorporation dated August 29, 2018 was issued by the Registrar of Companies, National Capital Territory of Delhi and Haryana (“RoC”), recording the change of The Company’s name to ‘Polycab Wires Limited’. Thereafter, the name of The Company was changed from ‘Polycab Wires Limited’ to ‘Polycab India Limited’ to reflect the overall line of business in which the Company is engaged such as cables and wires, FMEG, EPC, etc., using the ‘Polycab’ brand, and a fresh certificate of incorporation dated October 13, 2018 was issued by the RoC. 

Major events and milestones in relation to the Company :

1996

-The Company was incorporated on January 10, 1996 at Mumbai

1998

-The Company set up a manufacturing facility for PVC insulated power cables house wires, polyethylene insulated jelly filled telephone cables, optical fibre cables, switch board cables and quad cables at Daman.

2008

-The turnover of The Company increased from over Rs. 10,000 million in Fiscal 2006 to over Rs. 21,000 million in Fiscal 2008

2009

-Investment from IFC in The Company of Rs. 4,017.50 million

2011

-Polycab Industries Private Limited was amalgamated into The Company pursuant to a scheme of amalgamation

-The turnover of The Company increased to over Rs. 31,000 million

2013

-The Company entered into the switch and switchgears segment

2014

-The Company entered into the fans and LED lighting segment

-The Company set up manufacturing facilities for MCBs at Nashik, Maharashtra

2016

-The Company set up manufacturing facilities for ceiling fans at Roorkee, Uttarakhand

-The Company entered into an agreement with Trafigura Pte. Limited to form a joint venture, Ryker Base Private Limited for setting up a copper rod manufacturing plant

-The Company set up a modernized facility for manufacture of higher voltage cables up to 220 kV at Halol, Gujarat

2017

-The Company entered into an agreement with former promoters of Techno Electromech Private Limited in respect of acquisition of a joint venture, Techno Electromech Private Limited for manufacturing LED lighting products 

Awards and Accreditations in last five years :

2018

-National Best Employer Brand, 2018 – Employer Branding Institute – India

2017

-Superbrands 2017 by the Superbrands India Private Limited

2015

-29th Annual Chapter Convention on Quality Concepts - CCQC – 2015, Gold Trophy

-29th Annual Chapter Convention on Quality Concepts - CCQC – 2015, Silver Award

-29th Annual Chapter Convention on Quality Concepts – CCQC, Excellence Award

2014

-28th Annual Chapter Convention on Quality Concepts - CCQC – 2014, Gold Trophy

-28th Annual Chapter Convention on Quality Concepts - CCQC – 2014, Silver Trophy

-28th National Convention on Quality Concepts - NCQC –2013, Par Excellence Award

-28th National Convention on Quality Concepts – NCQC, Excellence Award