On Friday, shares of Polycab India surged more than 5% to record a new 52-week high of Rs 3399 apiece on BSE. The scrip witnessed massive spurt in volume by more than 3.05 times.
In Q4 FY23, the company’s revenue amounted to Rs 432.37 crore, showing a YoY increase of 9%. The EBITDA for Q4 FY23 stood at Rs 60.32 crore, which is up 27% YoY. The company’s net profit after tax (PAT) for Q4 FY23 was Rs 42.84 crore.
For FY23, the company’s revenue was Rs 1,410.78 crore, showing a YoY increase of 16%. The EBITDA for FY23 was Rs 184.29 crore, which is up 46% YoY. The company’s net profit after tax (PAT) for FY23 was Rs 128.23 crore, showing a YoY increase of 52%.
The company had a remarkable year in FY23, achieving a significant milestone of surpassing revenues of Rs 14,000 crore and profitability threshold of Rs 10,000 crore. This accomplishment marked the highest ever revenues and net profit after tax (PAT) in the company’s history. With a strong demand outlook, the company is confident in continuing its impressive growth trajectory in the near-to-mid-term.
The Wires and Cables business of the Company witnessed a YoY revenue growth of 12% in Q4FY23, primarily driven by a robust performance in the international market. The international business segment showed a substantial YoY growth of 125% and contributed to 12.5% of the Company’s consolidated revenue in the same period. Moreover, the company expanded its global presence to reach out to customers across 70 countries, further augmenting its international business prospects.
Polycab India Limited (PIL) is the largest Wires and Cables manufacturer in India and a rapidly growing FMEG company with a consolidated turnover of over Rs 141 billion in FY23.
The company offers innovative, safe and energy-efficient products to a diverse customer base through a strong distribution network comprising over 4,300 authorized dealers and 205,000 retail outlets.
The stock has witnessed significant buying activity as it has surged more than 30% in just 1 year. Keep a close eye on this trending stock.