Polycab India reported a 11 per cent year-on-year growth in revenues of its wire & cable business in Q1FY25.
In an investor presentation, Polycab said that revenues from the wire & cable division touched Rs.3,857.2 crore in Q1FY25 (April-June quarter of fiscal year ending March 31, 2025) that around 11 per cent higher than the comparable Rs.3,487.4 crore in Q1FY24.
Sharp commodity price movements led to demand fluctuations in channel sales in the later part of Q1FY25, which curtailed the positive impact of higher average commodity prices, the presentation said. Demand momentum remains strong, with uptick in sales expected during the remaining part of the year, the company said.
In the domestic market, institutional business outpaced the distribution business, the presentation said, adding that growth in cables was much higher than that in the wire segment. International business registered a decline of 28 per cent year-on-year in Q1FY25.
“With commodity prices having stabilized and channel inventory at normalized levels, we foresee uptick in sales in the forthcoming quarters,” Polycab said discussing the wire & cable business.
Polycab India’s business is broadly divided into three segments – wire & cable, FMEG (fast-moving electrical goods) and “Other”. The “Other” segment mainly includes the EPC business. This segment saw total revenue of Rs.481.5 crore, which was 292 per cent higher, on a year-on-year basis. This growth was largely driven by robust execution of the EPC order book, the presentation noted.
Robust demand
Commenting on the company’s performance in Q1FY25, Inder T. Jaisinghani, CMD, Polycab India, said, “The strong domestic economy, bolstered by structural reforms aimed at infrastructure development, provides an advantageous backdrop for the growth of our various product categories. As we anticipate continued robust demand, we are fully prepared to leverage these significant opportunities and drive sustained growth.”
Also read: Polycab India: Wires & Cables Business Grows 28 Per Cent
Featured photograph showing a cable manufacturing plant of Polycab India is for representation only.
