Consolidated profit before tax jumped 80% to Rs 5,305 crore in the quarter ended 30 June 2023 as compared with Rs 2,947 crore in corresponding quarter last year.

EBITDA jumped 77% YoY to Rs 548.6 crore in Q4 FY23. EBITDA margin improved around 280 bps YoY to 14.1% driven by judicious price revisions, better operating leverage and favourable business mix.

Wires and Cables business revenue grew 46% YoY basis to Rs 3,487.4 crore on the back of strong volume growth both domestically and internationally. Domestic distribution driven business sustained its strong growth momentum, while institutional business exhibited remarkable growth acceleration. Geographically, growth was broad based, with highest growth coming from North region. Cables growth continued to outperform wires growth. Segmental margins improved by approximately 330 bps YoY led by judicious price revisions, better operating leverage and strong growth in international business.

FMEG business was muted during the quarter as weak consumer sentiment weighed down on sales However, the segment showed 3% year-on-year and sequential growth as benefits of channel realignment started to play-out. Fans business exhibited healthy growth sequentially as older non-BEE compliant inventory with channel partners was sold off, leading to fresh sales of newer BEE compliant inventory during the quarter.

Inder T. Jaisinghani, chairman and managing director, Polycab India, said, “The improved growth momentum is also a result of a combination of strategic initiatives implemented through Project LEAP, along with our unwavering dedication to customer-centricity, a diverse array of highquality products, and a robust distribution network. Our outstanding quarterly performance serves as a testament to the robustness of our business model.”

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.