Polycab India Q1 Results with Revenue Up & Net Income Down

Polycab India Q1 Results: In the first quarter of 2024 (Jun 24), Polycab India reported a total revenue of ₹4,698.03 crores. This shows a strong growth compared to the previous year, with a year-over-year (YoY) increase from ₹3,889.38 crores in Jun 23. The company's performance also shows improvement in terms of sales when looking at the quarter-on-quarter (QoQ) comparison, as the revenue rose from ₹4,323.68 crores in Mar 23.

Polycab's net income decreased to ₹395.95 crores in Jun 24, down from ₹425.03 crores in the previous quarter (QoQ). This decline indicates that while sales are increasing year-over-year (YoY), the company's overall profit is being affected by higher expenses. For example, the selling, general, and administrative expenses also rose from ₹379.67 crores in Jun 23, affecting the company's profit margins. Therefore, while Polycab India is growing year-over-year, it faces challenges in maintaining profitability quarter-on-quarter. The company continues to adapt to market demands and invest in product development to enhance its competitive edge.

Here's a summary of Polycab India's Q1 results presented in a simple table format:

Source: Here 

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Polycab India Q1 Results

Polycab India’s consolidated financial results for the quarter ending on June 30, 2024, show a detailed overview of the company's performance. In this quarter, Polycab reported a total income of ₹47,564.35 million, which is lower than the ₹56,457.33 million from the previous quarter, indicating a decline in revenue. The main source of income was from operations, contributing ₹46,980.30 million.

Polycab India’s Total expenses also decreased to ₹42,230.67 million from ₹49,204.72 million in the last quarter. The major expenses included the cost of materials consumed, which was ₹39,181.95 million. Other significant costs included employee benefits, finance costs, and depreciation. After deducting the total expenses from total income, the profit before tax was ₹5,333.68 million, down from ₹7,252.61 million in the previous quarter.

Polycab India’s profit for the period was ₹4,016.19 million, compared to ₹5,534.77 million before. The company also reported an other comprehensive income loss of ₹91.75 million, leading to a total comprehensive income of ₹3,924.44 million for this quarter, down from ₹5,515.12 million previously. This summary highlights the challenges faced by Polycab India during this quarter, especially in terms of income and profit.

Here's a simplified summary of the Consolidated Financial Results for the quarter ended June 30, 2024, presented in a clear and organized table format:

(₹ in million, except the shares)

Polycab India Financial Metrics

Polycab India is a leading company in the electrical industry, known for its wires and cables. The company has a market capitalization of ₹1,04,265 crore, meaning it is valued at over one lakh crore rupees in the stock market. Currently, its stock price is ₹6,933, which shows how much one share costs. The highest price in the past year was ₹7,331, while the lowest was ₹3,801. The stock has a Price-to-Earnings (P/E) ratio of 58.6, indicating investors are willing to pay more for each unit of earnings. Its book value is ₹545, and it offers a dividend yield of 0.43%. 

Here’s a summary of the market data you provided:

Quarterly Results 

The Polycab India Q1 results for December 2023, March 2024, and June 2024 show key financial figures. In December 2023, the company earned ₹4,340 crores in sales, with expenses of ₹3,771 crores, resulting in an operating profit of ₹570 crores and a net profit of ₹417 crores. In March 2024, sales increased to ₹5,592 crores, expenses rose to ₹4,830 crores, leading to a higher operating profit of ₹762 crores and a net profit of ₹553 crores. 

Here’s the summary for the quarters of December 2023, March 2024, and June 2024:

(in Rs. Crores)

About Polycab India 

Polycab India is a well-known company that manufactures and sells wires, cables, and fast-moving electrical goods (FMEG) under the brand name POLYCAB. The company was started on January 10, 1996, in Mumbai and was originally named Polycab Wires. It was founded by a team of promoters who have over 40 years of experience in the electrical industry. Polycab offers a wide range of products, including power cables, control cables, solar cables, and flexible cables. They also produce FMEG products like electric fans, LED lights, switches, and solar products.

In 2009, Polycab expanded its business into the engineering, procurement, and construction (EPC) sector, focusing on projects that help improve power distribution and rural electrification. This means they design and execute important electrical projects to bring electricity to more people. Additionally, Polycab has a Telecom Division that manufactures optical fiber cables and other networking solutions, which are essential for improving digital communication and infrastructure. With a commitment to quality and innovation, Polycab has become a leading player in the electrical industry, helping to enhance lives through better access to electrical products and services..