Polycab India has incorporated Uniglobus Electricals and Electronics (UEEPL) as its wholly owned subsidiary on 24 March 2021.
Uniglobus Electricals and Electronics has an authorised capital of Rs 1 crore and paid up capita of Rs 1 lakh. The objective of incorporating a company is to expand the business of trading and manufacturing of cables, wires, fast moving electricals and electronics goods. The announcement was made during market hours today, 25 March 2021.
Polycab India's consolidated net profit jumped 19.1% to Rs 263.62 crore on 11.6% rise in net sales to Rs 2,798.83 crore in Q3 December 2020 over Q3 December 2019.
Shares of Polycab India fell 0.24% to Rs 1,367 on BSE. Polycab India manufactures and sells various types of cables, wires, electric fans, LED lighting and luminaires, switches and switchgears, solar products, pumps and conduits and accessories. The company caters to various public and private institutions across a diverse set of industries, as well as retail customers through its B2C business.
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