Polycab Q2 Results 2024 Achieves ₹439.81 Crores Net Income

Polycab Q2 Results 2024: Polycab India reported its financial results for the second quarter of fiscal year 2024, ending in September. The company earned a total revenue of ₹5,498.42 crores, which is significantly higher than ₹3,889.38 crores in the previous quarter (June 2023) and also more than ₹4,217.70 crores from the same quarter last year (September 2023). This shows strong growth in sales.

Polycab’s expenses also increased. Selling, general, and administrative expenses were ₹494.15 crores, up from ₹379.67 crores in June and ₹425.90 crores a year ago. The depreciation and amortization expenses rose to ₹72.06 crores, compared to ₹57.14 crores in the previous quarter and ₹60.30 crores last year. Other operating expenses jumped to ₹389.07 crores, which was much higher than ₹58.54 crores in June and ₹71.37 crores last year.

Polycab managed to earn an operating income of ₹559.49 crores, which is an improvement from ₹491.42 crores in the previous quarter and ₹548.62 crores a year ago. The net income also rose to ₹439.81 crores, showing that the company is becoming more profitable. The diluted normalized earnings per share (EPS) increased to ₹29.14, up from ₹26.57 in June and ₹28.25 last year, indicating that shareholders are benefiting from this growth.

Here’s the summary of Polycab India’s Q2 results for September 2024, with comparisons to the previous quarter (June 2023) and the same quarter last year (September 2023):

(₹ in crores, except the shares)

Source: Here 

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Polycab Q2 Results 2024

Polycab earned about 101,964.53 million from operations, a significant increase from the 46,980.30 million it made in the same quarter last year. Additionally, the total income for the quarter was 55,745.79 million, which includes other sources of income, showing strong overall performance.

Polycab spent 49,842.32 million in total expenses during the quarter, which covers costs like materials, employee salaries, and other operating expenses. This led to a profit before tax of 5,903.47 million. After accounting for taxes, which were around 1,451.39 million, the profit for the period was 4,452.08 million. This is slightly higher than last year's profit of 4,297.67 million in the same quarter.

Here’s a simplified summary of the consolidated financial results for the quarter and six months ended September 30, 2024:

Polycab Stock Performance

The Polycab table shows important financial information about the company. Its market capitalization is ₹1,07,086 crore, which means this is the total value of all its shares. The current stock price is ₹7,120, and it has reached a high of ₹7,607 and a low of ₹3,801 over a certain period. The price-to-earnings (P/E) ratio is 59.7, indicating how much investors are willing to pay for each unit of earnings. The book value per share is ₹571, and the dividend yield is 0.42%, showing the return on investment from dividends. 

Here’s the information you provided in a structured table format:

Quarterly Results 

In the financial results for Polycab for March, June, and September 2024, the company showed some important changes. In March 2024, sales reached Rs. 5,592 crores, which is high, but in June, sales fell to Rs. 4,698 crores. However, by September, sales increased again to Rs. 5,498 crores. Expenses also changed, with the highest being Rs. 4,830 crores in March. The operating profit was strong in March at Rs. 762 crores, but it dropped to Rs. 583 crores in June before recovering to Rs. 632 crores in September. 

Here’s the data for March 2024, June 2024, and September 2024, highlighting the particulars:

(in Rs. Crores)

About Polycab

Polycab India is a leading company in India that makes electrical products. It was founded in 1964 by Thakurdas Jaisinghani, who started with a small shop called Sind Electric Stores. The company grew over the years and became well-known for producing high-quality wires and cables. Polycab has a wide range of products, including electrical cables, fans, switches, and lighting solutions. The company is known for its innovation and quality, and it has factories in different parts of India. Polycab serves both residential and industrial customers, providing reliable electrical solutions.

Polycab has expanded its business and is now one of the top brands in the electrical industry. It focuses on customer satisfaction and aims to meet the needs of its clients with excellent service and products. Today, Polycab is recognized as a trusted name in the electrical market.