Polycab India, a company in the electrical industry, is set to disclose its financial results for the first quarter of the fiscal year 2024 (Q1FY24) on Tuesday, July 18.
As per a CNBC-TV18 Poll, it is anticipated that revenue for this quarter will witness a 14 percent growth, amounting to Rs 3,198.5 crore compared to Rs 2,736.6 crore recorded in the same quarter last year. Earnings before interest, taxes, depreciation, and amortisation (EBITDA) is projected to rise by 26 percent to Rs 393 crore, surpassing the previous year's figure of Rs 311 crore.
The expected revenue growth can be attributed to a robust performance in the wires and cables segment. However, the sales of electrical goods are predicted to be subdued due to a higher inventory of fans in the distribution channels.
The quarter ending in June 2023 is anticipated to witness an improvement in margin, with an estimated increase of 12.6 percent from the previous year's 11.4 percent.
Profit after tax (PAT) is expected to grow by 21 percent, reaching Rs 270 crore compared to Rs 223 crore in Q1FY23.
Over the past six months, the stock of Polycab India has experienced a significant surge of approximately 42 percent. Market participants will closely observe the management's commentary on volume growth and the company's outlook for export revenues, as it will provide valuable insights into future prospects.
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