Polycab India Limited [NSE: POLYCAB], one of the leading Indian Cable and Wire and fast moving electrical goods (FMEG) company, has announced its financial results for the quarter ended September 30, 2021.
Polycab’s Financial Results Analysis
Consolidated Financial Figures of Q2 FY22 v/s Q2 FY21
Polycab’s quarterly revenue grew sharply by 48% to ₹ 3,128.8 Crore in Q2 FY 22 as compared to ₹ 2,113.7 Crore during same quarter last year. The profit after tax (PAT) for the company has declined by 9% to ₹ 200.5 Crore in Q2 FY22, down from ₹ 221.6 Crore in Q2 FY21.
Consolidated Financial Figures of Q2 FY22 v/s Q1 FY22
In comparison to a revenue of ₹ 1,880.5 Crore in Q1 FY 22, Polycab’s revenue grew by 66% in Q2 FY 22. Net Profit of Polycab grew drastically by 166% to Rs. 200.5 crore in Q2 FY22 as compared to ₹ 75.3 Crore revenue from the pandemic impacted Q1 FY22.
Financial Results Segment Wise of Polycab India YoY
Wires and Cables Business revenue has gone up by 46% to ₹ 2,548.1 Cr in Q2 FY22 from Rs 1,740.8 Cr in Q2 FY21.
As expressed in the press release of the company, the overall demand environment had a growing tread during the period.
Fast Moving Electrical Goods (FMEG) Business grew by 41% to ₹ 342.9 Crore in Q2 FY22, increasing from ₹ 244 Crore in Q2 FY21.
Polycab witnessed strong growth in FMEG segment through strategic interventions, distribution expansion as well as the improving demand environment. Although the Fan Business was affected in Q2 FY22 due to delayed monsoon, Lights, Switches, Conduit pipes and Pumps Business posted healthy growth.
Other Business Segment, which largely comprises of EPC Business witnessed a growth of 37% to ₹ 79.6 Cr in Q2 FY22 from ₹ 58 in Q2 FY21.
Commenting on the performance, Mr. Inder T. Jaisinghani, Chairman and Managing Director, Polycab India Limited mentioned “We had a healthy Q2. Robust sales growth was underpinned by market share gains across categories. Given the strengthening macroeconomic fundamentals, we see a massive opportunity to spread our wings across B2B as well as B2C categories by leveraging on our strong brand equity and increased consumers affinity for our products ”.
About Polycab India Limited: Polycab is a well-renowned wire and cable manufacture and a leading manufacturer of FMEGs with over ₹ 8,900 Cr in revenue. The company has a strong a Pan-India distribution network of over 4,100+ authorized dealers and distributors who in turn cater to over 165,000+ retail outlets.