Page 3 - Polycab India

Polycab India Q3 profit rises 15.4% on healthy cables, wires demand

Consolidated net profit rose to 4.13 billion rupees ($49.7 million) in the three months ended Dec. 31 from 3.58 billion rupees a year earlier

Polycab India's stock sees 21% rout on allegations of tax evasion

Company refutes allegations; stock may underperform in near term

US-based Capital Group sells Polycab India's shares worth Rs 337 crore

Financial Services company Capital Group on Thursday sold shares of electrical goods company Polycab India for Rs 337 crore through an open market transaction. US-based Capital Group through its affiliate SmallCap World Fund Inc offloaded shares of Polycab India on the National Stock Exchange (NSE). According to the bulk deal data with the NSE, SmallCap World Fund Inc disposed of 8,51,003 shares of Polycab India. The shares were offloaded at an average price of Rs 3,955.87 apiece, taking the deal value to Rs 336.64 crore. Details of the buyers could not be ascertained. On Thursday, the scrip of Polycab India nosedived 20.50 per cent to close at Rs 3,904.70 per piece on the NSE.

Polycab tanks 23% as I-T dept finds Rs 1,000-crore as unaccounted sales

Polycab India, on its part, denied any rumours of tax evasion by the company

I-T dept found unaccounted sales of Rs 1,000 cr during raid against Polycab

The Income Tax department has detected "unaccounted cash sales" of about Rs 1,000 crore after it recently raided the Polycab group, a prominent wires, cables and electrical items manufacturer, the CBDT and official sources said on Wednesday. Unaccounted cash of more than Rs 4 crore was seized and more than 25 bank lockers were put on restraint after the searches were launched against the group on December 22 last year, the Central Board of Direct Taxes (CBDT) said in a statement. It said a total of 50 premises in Mumbai, Pune, Aurangabad and Nashik in Maharashtra, Daman, Halol in Gujarat and Delhi were covered. Some of the authorised distributors of the group were also covered in the searches, the CBDT, which is the administrative body for the Income Tax department, said. The CBDT statement did not name the group but official sources confirmed it to be Polycab India Limited. Polycab India issued a clarification to stock exchanges earlier in the day terming reports of "tax evasion

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Polycab slips 5% amid reports of I-T raids at 50 office locations pan-India

The residences and offices of the top management linked to the firm were also being raided, the report added

I-T officials search 50 offices, facilities of Polycab India; shares fall

BSE said that it has sought clarification from Polycab India on the reports of tax raids

MSCI Index rejig likely to spur $1.5 billion inflows in domestic stocks

The global index provider announced the changes in the global standard index on Wednesday

Small, mid or large, many 'caps' cos wear: Polycab, PFC take pole position

An equivalent number of stocks will experience downgrades, moving from large-cap to mid-cap and from mid-cap to small-cap

Polycab India enters top-100 most-valued firms' club; rallies 11% in 2 days

With a market capitalisation of Rs 64,422 crore, Polycab India stood at 91st position in overall m-cap ranking on Wednesday morning.

Polycab India's Q1 profit soars 82% on higher demand of wires, cables

The company's shares rose as much as 3.6% to hit a record high of 4,055 rupees after the results

Healthy near-term growth outlook for Polycab India after record Q3 profit

Weak margin trajectory of the FMEG segment and valuations could limit upside

Polycab India's Q2 net profit jumps 37% at Rs 270 cr, revenue up by 10.83%

Wires and cables manufacturer Polycab India (PIL) on Tuesday reported a 36.72 per cent growth in consolidated profit during the September quarter at Rs 270.45 crore. The company's profit stood at Rs 197.80 during the corresponding quarter of 2021-22, it said in a regulatory filing. Revenue from operations of the company during the quarter under review grew by 10.83 per cent to Rs 3,332.35 crore as against Rs 3,006.55 crore in the year-ago period. "We continued with our strong business performance in the second quarter, posting the highest ever second quarter revenue in the history of the company. Combined with the stand-out performance of the first quarter, our top-line for the first half of the year grew by 25 per cent year-on-year. Margin expansion was supported by strong growth in exports and judicious price revisions," PIL Chairman and Managing Director Inder T Jaisinghani said. Strong domestic economy with structural reforms focused on infrastructure development augurs well fo

Polycab India Q1 net profit surges three-fold to Rs 222 cr; revenue up 47%

Profitability was supported by better operating leverage and various strategic initiatives implemented over past few quarters, Polycab India chairman and managing director Inder T Jaisinghani noted.

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Stocks to Watch Today: Ambuja Cements, AU SFB, Alok Textiles, Hindustan Unilever, HDFC Life, ICICI Lombard, L&T Finance and Rallis India to announce Q1 results on Tuesday.

Polycab India Q4 PAT rises 20% YoY to Rs 325 cr

PBT up 16%

Polycab India Q4 net profit rises 20% to Rs 325 cr; revenue up 35%

Wires and cables manufacturer Polycab India on Tuesday reported a 20 per cent year-on-year rise in net profit to Rs 325.33 crore for the fourth quarter ending March 31. The company's net profit was Rs 271.06 crore in the year-ago quarter, Polycab India said in a BSE filing. Revenue from operations during the quarter under review increased 34.90 per cent to Rs 3,969.98 crore compared to Rs 2,942.74 crore a year ago. For FY22, the company's net profit rose marginally by 3.53 per cent to Rs 917.28 crore compared to Rs 885.93 crore in FY21. In 2020-21, revenue from operations surged 38.80 per cent to Rs 12,203.76 crore from Rs 8,792.23 crore in FY21. "Our strong performance in fiscal year 2022 was underpinned by the extraordinary efforts of our team to achieve new milestones even in one of the most uncertain environments. We delivered accelerated business growth, record free cash flow, healthy returns on capital and market-leading shareholder returns. "We will champion our renewed pu

Centrum Broking gives 'buy' call for Concor, Polycab India, Axis Bank

Brokerage firm Centrum Broking has given a 'buy' call to potential investors for shares such as Container Corporation of India, Polycab India, and Axis Bank

Select stocks gain on inclusion in F&O; Hindustan Aeronautics surges 9%

Can Fin Homes, Polycab India, IndiaMART InterMESH, Oracle Financial Services, Syngene International, Dixon Technologies, MCX and Ipca Labs were up between 2 per cent and 3 per cent in intra-day trade.