Polycab India Limited — Important, 22-01-2025: General Updates

**Financial Highlights:** Polycab India Limited reported record-breaking revenues, reaching ₹52,261 Mn for Q3 FY25, marking a 20% increase year-on-year, while revenue for the nine months surged to ₹1,54,225 Mn, a rise of 24% year-on-year. The operating EBITDA for Q3 stands at ₹7,199 Mn, up 26% from the previous year, illustrating a 13.8% EBITDA margin. The profit after tax (PAT) amounted to ₹4,643 Mn, reflecting an 11% annual growth.

**Strategic Initiatives and Growth Drivers:** The company is witnessing robust performance in its Fast Moving Electrical Goods (FMEG) segment, with a 45% increase in revenue year-on-year. Continued momentum in its international business, which reported a 62% year-on-year growth, bolsters revenue contributions.

**Market Position and Competitive Advantage:** Polycab is successfully normalizing wire and cable margins despite challenges from copper prices and inventory levels, highlighting its competitiveness in the market.

**Investor Implications:** Given the positive uptick in revenues and profitability, along with a strong growth trajectory in FMEG and international sales, the outlook appears optimistic. Investors should watch closely as the company continues to expand its market presence and capitalize on growth opportunities.