Other income fell 10.72% to Rs 48.07 crore. PBIDT rose 31.65% to Rs 1073.46 crore. Provision for interest rose 33.36% to Rs 32.54 crore. PBDT rose 31.60% to Rs 1040.92 crore. Provision for depreciation rose 22.28% to Rs 80.36 crore. Profit before tax grew 32.45% to Rs 960.56 crore. Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 226.2 crore, compared to Rs 171.78 crore. Effective tax rate was 23.55% compared to 23.69%. Minority interest increased 2.95% to Rs 7.69 crore. Net profit attributable to owners of the company increased 33.09% to Rs 726.67 crore.
Sales of Wires and Cables segment has gone up 23.73% to Rs 6,019.07 crore (accounting for 84.80% of total sales). Sales of FMEG segment has gone up 32.91% to Rs 476.00 crore (accounting for 6.71% of total sales). Sales of EPC segment rose 20.03% to Rs 602.83 crore (accounting for 8.49% of total sales). Inter-segment sales came down from Rs 112.07 crore to Rs 105.79 crore.
Profit before interest, tax and other unallocable items (PBIT) has jumped 31.62% to Rs 967.36 crore. PBIT of Wires and Cables segment rose 23.46% to Rs 909.04 crore (accounting for 93.97% of total PBIT). PBIT of FMEG reported profit of Rs 1.92 crore compared to loss of Rs 45.91 crore. PBIT of EPC segment rose 26.54% to Rs 56.40 crore (accounting for 5.83% of total PBIT).
PBIT margin of Wires and Cables segment fell from 15.14% to 15.10%. PBIT margin of FMEG segment rose from negative 12.82% to 0.40%. PBIT margin of EPC segment rose from 8.87% to 9.36%. Overall PBIT margin rose from 12.84% to 13.63%.
Full year results analysis.
Net sales (including other operating income) of Polycab India has increased 24.22% to Rs 22408.31 crore. Sales of Wires and Cables segment has gone up 19.43% to Rs 19,236.63 crore (accounting for 84.23% of total sales). Sales of FMEG segment has gone up 29.52% to Rs 1,682.18 crore (accounting for 7.37% of total sales). Sales of EPC segment rose 74.35% to Rs 1,919.24 crore (accounting for 8.40% of total sales). Inter-segment sales rose Rs 367.67 crore to Rs 377.16 crore.
Profit before interest, tax and other unallocable items (PBIT) has jumped 15.50% to Rs 2,762.03 crore. PBIT of Wires and Cables segment rose 11.00% to Rs 2,620.32 crore (accounting for 94.87% of total PBIT). PBIT of FMEG segment rose 58.68% to Rs -38.93 crore (accounting for -1.41% of total PBIT). PBIT of EPC segment rose 44.72% to Rs 180.64 crore (accounting for 6.54% of total PBIT).
PBIT margin of Wires and Cables segment fell from 14.66% to 13.62%. PBIT margin of FMEG segment rose from negative 7.25% to negative 2.31%. PBIT margin of EPC segment fell from 11.34% to 9.41%. Overall PBIT margin fell from 12.92% to 12.09%.
Operating profit margin has declined from 13.81% to 13.21%, leading to 18.80% rise in operating profit to Rs 2,960.24 crore. Raw material cost as a % of total sales (net of stock adjustments) decreased from 68.59% to 67.44%. Purchase of finished goods cost fell from 3.07% to 2.66%. Employee cost decreased from 3.30% to 3.22%. Other expenses rose from 11.55% to 13.73%. Selling and administration expenses fell from 1.08% to 0.53%. Freight charges fell from 1.89% to 1.64%. Other direct service cost rose from 2.57% to 5.50%.Other income fell 5.99% to Rs 207.64 crore. PBIDT rose 16.78% to Rs 3167.88 crore. Provision for interest rose 55.93% to Rs 168.93 crore. Loan funds rose to Rs 202.44 crore as of 31 March 2025 from Rs 161.09 crore as of 31 March 2024. Inventories declined from Rs 3,675.11 crore as of 31 March 2024 to Rs 3,661.30 crore as of 31 March 2025. Sundry debtors were higher at Rs 2,596.27 crore as of 31 March 2025 compared to Rs 2,047.12 crore as of 31 March 2024. Cash and bank balance rose to Rs 770.64 crore as of 31 March 2025 from Rs 402.36 crore as of 31 March 2024. Investments declined from Rs 1,822.42 crore as of 31 March 2024 to Rs 1,749.04 crore as of 31 March 2025.
PBDT rose 15.15% to Rs 2998.95 crore. Provision for depreciation rose 21.65% to Rs 298.1 crore. Fixed assets increased to Rs 3,709.45 crore as of 31 March 2025 from Rs 2,911.34 crore as of 31 March 2024. Intangible assets increased from Rs 4.62 crore to Rs 9.85 crore.
Profit before tax grew 14.48% to Rs 2,700.85 crore. Share of profit/loss were nil in both the periods. Provision for tax was expense of Rs 655.31 crore, compared to Rs 556.38 crore. Effective tax rate was 24.26% compared to 23.58%.
Minority interest increased 35.40% to Rs 25.55 crore. Net profit attributable to owners of the company increased 13.22% to Rs 2,019.99 crore.
Equity capital increased from Rs 150.24 crore as of 31 March 2024 to Rs 150.43 crore as of 31 March 2025. Per share face Value remained same at Rs 10.00.
Promoters' stake was 63.04% as of 31 March 2025 ,compared to 65.24% as of 31 March 2024 .
Cash flow from operating activities increased to Rs 1,808.53 crore for year ended March 2025 from Rs 1,296.24 crore for year ended March 2024. Cash flow used in acquiring fixed assets during the year ended March 2025 stood at Rs 969.73 crore, compared to Rs 858.52 crore during the year ended March 2024.
Management Comments :
Commenting on the performance, Mr. Inder T. Jaisinghani, Chairman and Managing Director, Polycab India Limited, said: 'We have concluded FY25 on a historic high, delivering record revenues for both the fourth quarter and the full year, driven by strong, broad-based growth across business segments. Exceeding our Project Leap FY26 revenue goal a year ahead of committed schedule is a testament to our focused execution, market leadership, and strategic resilience. Our core Wires and Cables business maintained its strong momentum, the FMEG business grew ahead of industry as well as achieved quarterly profitability, and the EPC business scaled new heights, all contributing to making Polycab the largest Company by revenue in the Indian electrical industry, as well as reaffirming our position as the most profitable Company for the third consecutive year. With a sharpened strategic focus, robust fundamentals, and a culture of innovation and excellence, we are poised to build on this momentum and shape the next phase of Polycab's growth journey, under Project Spring, with confidence and purpose.'
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0 mins read . Dec 18, 2024
0 mins read . Dec 18, 2024
0 mins read . Dec 18, 2024
