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Expect to clock Rs 20,000 crore revenues ahead of FY26 timeline: Polycab India

Cables and wires segment, which contributes bulk of the company's revenues, is targeting 12 to 14 percent of margin, while the FMEG segment margin is expected at 10 percent by FY26.

By Vahishta Unwalla  Jul 19, 2023 12:05:01 PM IST (Updated)

2 Min Read
Polycab India reported strong growth in the first quarter of FY24 largely attributed to the healthy performance in wires and cables segment. Revenues jumped 42 percent year on year to Rs 3,889 crore, compared with CNBC-TV18 poll of Rs 3,198 crore. The earnings before interest, tax, depreciation and amortisation (EBITDA) jumped 76 percent year on year to Rs 549 crore versus the CNBC-TV18 poll of 393 crore.
EBITDA margins improved 270 bps year on year to 14.1 percent, while the Street expected 12.6 percent. The net profits are 81 percent higher at Rs 403 crore, against the CNBC-TV18 poll of Rs 270 crore.

The wires and cables segment revenues are 47 percent higher year on year at Rs 3,534 crore, where volume growth stood at 50-60 percent. On the contrary, fast moving electrical goods (FMEG) segment was soft with marginal growth to Rs 315 crore.