Polycab India Beats Q4 Expectations with Highest Ever Revenue and Profit, Leaving Peers Behind in Cables & Wires Segment

Polycab India Ltd has posted a standout performance for the March 2025 quarter, surpassing analyst expectations on both its top and bottom line. The firm recorded consolidated revenue from operations of ₹69.86 billion, considerably higher than the IBES forecast of ₹66.12 billion, and consolidated net profit of ₹7.27 billion, well above the projected ₹6.12 billion. This strong performance highlights Polycab's market leadership and operational resilience amidst growing competition in the cables and wires sector.

 

Record Revenue and Profit:

Polycab's Q4 consolidated revenue from operations jumped to ₹69.86 billion, outpacing analyst expectations and depicting robust demand across its core segments. Net profit jumped to ₹7.27 billion, outpacing analyst estimates by a wide margin.

 

Growth Drivers:

The wires and cables segment of the company remained the primary growth driver, riding on enhanced demand, favorable commodity prices, and planned capacity growth. The FMEG business also performed well, driven by a diversified product range and omnichannel distribution.

 

Operational Excellence:

Polycab's emphasis on operational efficiency and margin enhancement was rewarded with EBITDA margins continuing to be robust. The wires and cables business of the company is expected to grow at almost 1.5 times the market rate, while EBITDA is likely to grow between 11% and 13%.

 

Industry Context:

The outcome arrives at a time when big conglomerates such as Adani Group and Aditya Birla Group are foraying into the cables and wires business, increasing competition. In spite of this, Polycab has been able to retain its leadership and achieve better growth than peers like RR Kabel.

 

Market Reaction:

Polycab India shares have recovered more than 17% in the last month, as investors' confidence returned after the strong quarterly performance, although the stock had fallen 21% year-to-date earlier.

 

Outlook:

Source: Upstox, Polycab India Investors, NDTV Profit