InvestorQ : How did you find the quarterly numbers of Polycab Ltd for Q2FY23?
Neelam Naik made post

How did you find the quarterly numbers of Polycab Ltd for Q2FY23?

Answer
image
Anu Biswas answered.
1 month ago
Follow

For the September 2022 quarter, electrical goods manufacturer, Polycab India, reported 10.84% higher sales on consolidated basis at Rs3,332 crore. In terms of specific verticals performance, the revenues of the wires and cables vertical grew 12.3% to Rs2,952 crore. The disappointment was in the revenues from fast moving electrical goods (FMEG) vertical which fell by -11% to Rs305.36 crore. The company has focused on working capital efficiencies which has resulted in the net cash from operations jumping by 4-fold in the first half on a comparable yoy basis. Here is a gist of the numbers for Q2FY23.

Polycab Ltd

Rs in Crore

Sep-22

Sep-21

YOY

Jun-22

QOQ

Total Income (Rs cr)

₹ 3,332.36

₹ 3,006.56

10.84%

₹ 2,736.56

21.77%

Operating Profit (Rs cr)

₹ 359.43

₹ 261.23

37.59%

₹ 296.20

21.35%

Net Profit (Rs cr)

₹ 267.80

₹ 195.21

37.19%

₹ 219.76

21.86%

Diluted EPS (Rs)

₹ 17.84

₹ 13.01

₹ 14.65

OPM

10.79%

8.69%

10.82%

Net Margins

8.04%

6.49%

8.03%

Let us now turn to the profitability performance of Polycab Ltd. PAT for the September 2022 quarter increased by 37.2% to Rs267.8 crore. Incidentally, the FMEG business made an operating loss in the quarter but the larger wires and cables business saw operating profits jump by an impressive 51% to Rs346 crore. FMEG vertical felt the brunt of the margin impact of higher input costs. Net margins at 8.04% for Q2FY23 were flat on sequential basis, but higher by 159 basis points on a yoy basis. The wires and cables business is expected to see more traction as the OEM business picks up steam with revival in construction activity.

4 Views