Polycab is engaged in the manufacturing and selling of wires, cables, and fast-moving electrical goods (FMEG) under the ‘POLYCAB’ brand. Key FMEG products include electric fans, LED lighting, switches and switchgear, solar products, and conduits & accessories.
The company was established as ‘Polycab Wires Private Limited’ on January 10, 1996, in Mumbai, by promoters with over four decades of experience.
A diverse range of wires and cables is produced, including power cables, control cables, instrumentation cables, solar cables, building wires, flexible cables, communication cables, and specialty cables.
In 2009, diversification into the engineering, procurement, and construction (EPC) business took place, involving power distribution and rural electrification projects. In 2014, the FMEG segment was entered, focusing on switches, switchgear, and conduits & accessories.
Polycab Limited: Strong Financial Performance in FY 2023
In the financial year 2023, Polycab Limited witnessed a substantial increase in revenue by 15.60%, reaching ₹14,107 crores, compared to ₹12,203 crores in FY 2022. Over the three-year period from FY 2021 to FY 2023, the company demonstrated a robust Compound Annual Growth Rate (CAGR) of 16.91% in revenue.
Polycab Ltd also significantly improved its net profit margin in FY 2023, increasing by 51.70% to ₹1,282.25 crores, up from ₹845.23 crores in FY 2022. This surge in revenue and net profit was driven by increased demand from various infrastructure projects, the real estate sector, and private capital expenditure across industries.
The company successfully expanded its domestic market share in the organized Cables & Wires market to approximately 25-26%, up from 22-24% the previous year, supported by a volume growth of 30-40% in the segment. In FY 2023, Polycab maintained favorable financial metrics, with a Return on Equity (ROE) of 21.06% and a Return on Capital Employed (ROCE) of 28.06%.
These impressive financial results underscore Polycab’s strong market position and strategic growth initiatives, reinforcing its leadership in the industry.
Polycab Limited’s Strategic Investment and Growth Plans
Polycab Limited is set to invest ₹10-11 billion annually over the next 2-3 years to expand its manufacturing capacities across various product lines, including Extra High Voltage (EHV) cables, special purpose cables, cables for international business, and Optical Fiber Cables (OFC). This strategic investment includes the establishment of a new EHV cable manufacturing plant in Halol, which is expected to become operational by the end of FY26.
The company has secured orders worth approximately ₹48 billion under the government’s Revamped Distribution Sector Scheme (RDSS) for power distribution projects, slated for execution over the next 3-4 years.
Polycab is also focusing on launching new premium product ranges across categories like wires, fans, switches, and switchgears to drive premiumization and enhance profitability.
To improve its Fast Moving Electrical Goods (FMEG) business, Polycab plans to implement changes over the next 2-3 quarters. These changes aim to enhance execution, distribution networks, new product development, and influencer management, targeting better-than-industry-average growth rates.
In addition, Polycab is preparing to unveil a new mid-term goal plan during the current financial year, following their previous Project LEAP target of achieving ₹200 billion in annual revenues by FY26.
Company Details
CORPORATE OFFICE
#29, The Ruby, 21st Floor, Senapati Bapat Marg, Tulsi Pipe Road, Dadar (West), Mumbai – 400028 Tel.: +91 22 6735 1400
REGISTERED OFFICE
Polycab India Limited, Unit 4, Plot No.105, Halol Vadodara Road, Village Nurpura, Taluka Halol, Panchmahal, Gujarat – 389350
PHONE NO
Tel No : 022-67351400
Toll Free No : 1800-267-0008
