Polycab India soars after strong Q4 performance

Polycab India jumped 6.15% to Rs 1638.10 after the company's consolidated net profit jumped 32% to Rs 283.2 crore in Q4 FY21 from Rs 215.1 crore in Q4 FY20.

Revenue during the quarter increased 43% year-on-year (YoY) to Rs 3,037.4 crore, with healthy underlying growth across segments and rising share of B2C business.

Wires and cables business grew 35% YoY to Rs 2487.5 crore in Q4 FY21, led by healthy pickup in infra and industrial project activities, improving consumer sentiment, and higher sales realisation. Business performance was broadly consistent across distribution channel as well as institutional business. Institutional business saw a decent sequential recovery. Housing wires sustained strong momentum.

Fast Moving Electrical Goods (FMEG) business grew 89% YoY to Rs 346.8 crore in Q4 FY21 on the back of healthy consumer demand, distribution and strong execution. Growth was strong across categories and regions. Market share gains were prominent across the board.

Profit before tax in Q4 FY21 stood at Rs 383.8 crore, up by 36% from Rs 283.1 crore in Q4 FY20.

The company reported 16% jump in consolidated net profit to Rs 885.9 crore on 1% rise in revenue to Rs 8,926.5 crore in the year ended 31 March 2021 over the year ended 31 March 2020.

Inder T. Jaisinghani, chairman and managing director, Polycab India, said: "FY21 has been an extraordinary year marked by disruption, resilience, compassion, and transformation.

We ensured uninterrupted operations through agility and technology which helped us leverage the favourable market trends and report robust business performance in the fourth quarter.

We are excited to commence on a journey towards our five-year vision which will shift orbits of our brand positioning, operations, and business growth along with strong emphasis on governance and sustainability. Considering our ongoing transformation initiatives, I believe we are well placed to take a leap and create long term value for everyone connected to Polycab."

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.

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