Polycab Q4 Results: Net Profit Soars 29% To Rs 553 Crore; Declares Dividend Rs 30/Share

Polycab India, a leading wires and cables manufacturer, on Friday reported a substantial 29% year-on-year increase in consolidated net profit, reaching Rs 553 crore compared to Rs 428 crore in the same period last year.

This robust performance underscores Polycab India's resilience and strong position in the market despite challenging economic conditions.

Polycab shares are listed on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE). On the BSE, the company's shares surged by 3.92% to reach Rs 6,050, while on the NSE, the stocks rose by 4.20% to Rs 6,071. This notable increase in share value reflects investor confidence in Polycab's strong financial performance and growth prospects.

The company's revenue from operations mirrored its profit growth, surging by 29% year-on-year to Rs 5,592 crore from Rs 4,324 crore in the corresponding period of the previous fiscal year. This significant growth in revenue underscores the effectiveness of Polycab India's business strategies and its ability to capitalise on emerging market opportunities.

The board of the company announced a generous dividend payout of 300%, recommending a dividend of Rs 30 per equity share with a face value of Rs 10 each for the financial year 2024.

In the fourth quarter of fiscal year 2024, Polycab India recorded impressive financial results, with revenue reaching Rs 55,919 million, marking a significant 29% year-on-year increase.

The company's earnings before interest, taxes, depreciation, and amortisation (EBITDA) stood at Rs 7,615 million, reflecting a robust 26% year-on-year growth.

"The year gone by has been truly exceptional for our company, marked by remarkable achievements fueled by robust demand momentum. This resulted in the company achieving its highest-ever revenues and profitability in its history. This outstanding performance is a direct result of our steadfast focus over the years on key areas such as expanding our distribution network, enhancing manufacturing capabilities, and striving for operational and organisational excellence," Inder T. Jaisinghani, Chairman, Polycab India, said in the BSE filing.

The company will announce the record date for the dividend in due course. Pending approval by shareholders at the upcoming Annual General Meeting, the dividend will be paid on or before 30 days from the date of the Annual General Meeting.

"As the country experiences an infrastructure upcycle, Polycab remains committed to its role in nation-building. We are dedicated to leveraging our expertise and resources to contribute to the development of vital infrastructure projects. Our commitment extends to product innovation, ensuring that we deliver superior-quality solutions across diverse sectors and meet the evolving needs of our customers," Jaisinghani added.

About Polycab:

Polycab India Limited (PIL) stands as India's largest manufacturer of wires and cables, boasting a consolidated turnover of over Rs 180 billion in FY24. Notably, PIL is not only a leader in its domestic market but also a rapidly growing force in the Fast Moving Electrical Goods (FMEG) sector.

With a vast distribution network comprising over 3,800 authorized dealers and more than 205,000 retail outlets, Polycab India reaches a diverse array of customers nationwide. Its extensive presence is further bolstered by 28 manufacturing facilities, 13 offices, and 29 warehouses strategically located across India. Additionally, Polycab India has made significant inroads into the global market, serving customers in 79 countries worldwide.