Mumbai : Polycab India Limited announced its consolidated results for the second quarter and six months ended September 30, 2022.
Commenting on the performance, Mr. Inder T. Jaisinghani, Chairman and Managing Director, Polycab India Limited, said: “We continued with our strong business performance in Q2, posting highest ever 2nd quarter revenue in the history of the Company. Combined with the stand-out performance of Q1, our top-line for first half of the year grew by 25% YoY. Margin expansion was supported by strong growth in exports and judicious price revisions. We are also progressing well on our long-term strategic agenda of focusing on sustainable value creation across B2B and B2C businesses through Project LEAP. Strong domestic economy with structural reforms focused on infrastructure development augurs well for most of our product categories. We remain committed to achieving ₹ 200 Bn sales by FY 2026 and make Polycab a future ready organization”
Key Highlights (Q2 FY23)
- Fans business was affected on account of seasonality, inflationary environment and transition to the new BEE regulations. Switch business recovered from the lows of Q1FY23, posting 123% QoQ growth
Key Highlights (H1 FY23)
- Revenue grew 25% YoY to ₹ 60,689 mn from ₹ 48,618 mn in H1FY22
- Wires and cables business revenue grew 26% on YoY basis to ₹ 53,144 mn from ₹ 42,164 mn in H1FY22 with healthy growth across both distribution and institutional business
- FMEG business grew 14% YoY to ₹ 6,084 mn from ₹ 5,348 mn in H1FY22
- EBITDA grew 73% YoY to ₹ 7,367 mn from ₹ 4,247 mn in H1FY22. Margins improved by 340 bps to 12.1%. Strong growth in exports and judicious price revisions contributed to margin improvement
Reported PAT increased by 82% YoY to ₹ 4,930 mn from ₹ 2,715 mn in H1FY22. PAT margin improved by 254 bps to 8.1%
