Polycab India's ED and CFO Gandharv Tongia aims to keep cable and wires business margins within the 12% to 14% range. In a post-earnings call with CNBC-TV18, Tongia reiterated the target to achieve Rs 20,000 crore of revenue before FY26, adding that the volume growth will be better than the industry average growth rate.
For the second quarter, the revenue growth came entirely from volumes, he said. Exports for the quarter were up 14% QoQ at Rs 400 crore.
Tongia also talked about the company's rebranding initiatives. “We have relaunched our logo and carried out a brand refresh."
The advertising spend is currently around 2.5% to 3% of the company's business-to-consumer (B2C) business. "In the coming years, it is possible that we up it and take it to 3% to 5%,” he said.
Inder T Jaisinghani, the company's Chairman and Managing Director, mentioned that the current industry capacity will suffice for the upcoming two years.
“We are thinking of increasing the capacity by 25%-30% more because demand is going to come continuously,” said Jaisinghani.
Polycab India Ltd (PIL), a manufacturer of wires and cables, announced a 59% surge in its consolidated profit for the September quarter, reaching Rs 426 crore. In the corresponding quarter of the 2022-23 fiscal year, the company's profit had been reported at Rs 268, as detailed in an official filing.
Revenue from operations for the quarter grew 26.5% to reach Rs 4,218 crore.
Polycab India is among the largest producers of wires and cables in India, with 23 manufacturing facilities, over 15 offices, and 25 warehouses nationwide.
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(Edited by : Shweta Mungre)
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