Polycab India rises after emerging as L-1 bidder for project worth Rs 4,099 crore project

Polycab India surged 3.12% to Rs 6839.75 after the company secured a significant contract from Bharat Sanchar Nigam (BSNL).

The company has emerged as the lowest bidder (L-1) for a Rs 4,099.69 crore project to design, build, operate, and maintain (DBOM) the middle mile network of BharatNet in Karnataka, Goa, and Puducherry.

The contract stipulates a 3-year construction period, followed by a 10-year maintenance period. The maintenance fee will be 5.5% of the capital expenditure (capex) for the first five years and 6.5% for the subsequent five years.

Polycab India is the largest manufacturer of wires and cables in India and fast-growing player in the fast-moving electrical goods (FMEG) space. The Group is also in the business of engineering, procurement and construction (EPC) projects.

The companys consolidated net profit fell marginally to Rs 401.61 crore in Q1 FY25 as against with Rs 403.16 crore posted in Q1 FY24. Revenue from operations stood at Rs 4,698.03 crore in Q1 FY25, up 20.79% as against with Rs 3,889.38 crore posted in Q1 FY24

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