Polycab India ~ Connection Zindagi Ka - W&C, FMEG and EPC Player

Good Numbers from POLYCAB

Q3FY23 Results Press Release

Highest Ever Quarterly EBITDA and PAT
Highest Ever 9M Revenues, EBITDA and PAT

:black_small_square: 9M FY23 Revenue at ₹ 97,841 mn; up 19% YoY
:black_small_square: 9M FY23 EBITDA at ₹ 12,397 mn; up 58% YoY
:black_small_square: 9M FY23 PAT at ₹ 8,538 mn; up 64% YoY

:black_small_square: Q3 FY23 Revenue at ₹ 37,152 mn; up 10% YoY
:black_small_square: Q3 FY23 EBITDA at ₹ 5,030 mn; up 39% YoY
:black_small_square: Q3 FY23 PAT at ₹ 3,608 mn; up 45% YoY

Mr. Inder T. Jaisinghani, CMD, said:

  • Strong quarterly performance, registering highest ever 3rd qtr rev and the highest ever quarterly PAT as well as the highest ever nine-months revenues and PAT in the history of the Company.

Key Highlights (Q3 FY23)
• Revenue grew 10% YoY to ₹ 37,152 mn in spite of high base, lower commodity prices
and higher inflation on the back of healthy volume growth in Cables & Wires business.

:black_small_square: Wires and Cables business revenue grew 11% on YoY basis to ₹ 32,878 mn, which was largely driven by domestic distribution business. The outperformance was primarily on account of benefits realized through the merger of HDC and LDC verticals last year. The Company also registered
highest ever quarterly production volume in Q3FY23.

  • FMEG business was almost flat YoY and grew 12% QoQ despite challenging business environment. While October and November were stronger compared to the months of Q2FY23, demand picked up considerable pace in December.
    • EBITDA margin continued to improve, increasing by 73 bps QoQ to 13.5% on the back of better operating leverage despite input cost pressures and almost 4x increase in A&P spends
    • PAT grew by 45% YoY to ₹ 3,608 mn from ₹ 2,484 mn in Q3 FY22. PAT margin stood at
    9.7% for the quarter .
    • As of 31st December 2022, net cash position improved to ₹ 18.7 bn against ₹ 6.7 bn
    net cash during the same period last year.

Key Highlights (9M FY23)
• Revenue grew 19% YoY to ₹ 97,841 mn from ₹ 82,338 mn in 9M FY22
:black_small_square: Wires and cables business revenue grew 20% on YoY basisto ₹ 86,022 mn from ₹ 71,843 mn in 9M FY22. Domestic distribution driven business grew by 25% YoY on the back of strong volume growth of over 26%.
:black_small_square: Exports revenue exports grew by 32% YoY. Overall, exports business contributed to 8.6% of consolidated revenue in 9MFY23.
:black_small_square: FMEG business grew 8% YoY to ₹ 9,483 mn from ₹ 8,752 mn in 9M FY22. Work
on realignment of distribution channel, brand building, new product
development, premiumization of offerings and influencer management
program are progressing well. These initiatives will help drive revenue growth
and margin expansion for the FMEG business
:black_small_square: EBITDA grew 58% YoY to ₹ 12,397 mn from ₹ 7,867 mn in 9MFY22. Margins improved
by 312 bps to 12.7%.
:black_small_square: Reported PAT increased by 64% YoY to ₹ 8,538 mn from ₹ 5,199 mn in 9MFY22. PAT
margin improved by 241 bps to 8.7%.

4ce53286-8d29-4f8c-b382-1b558a6f6e3a.pdf (bseindia.com)