Polycab India has reported a year-on-year growth of 39 per cent in revenue of its wires & cables business, for FY22.
In an investor presentation, Polycab India said that revenues from the wires & cables business clocked Rs.10,695.30 crore in FY22, up 41 per cent from Rs.7,580.60 in FY21.
For the fourth quarter (January to March) of FY22, there was a 39 per cent year-on-year growth in such revenues. Revenues were Rs.3,511 crore in Q4 of FY22, up 39 per cent from around Rs.2,968 crore in the same quarter of FY21.
Revenue growth in Q4 of FY22 over the sequential quarter (Q3 of FY22) was 18 per cent.
The company noted that demand environment continued to remain encouraging, in the wires & cables market.
While domestic distribution driven business continued to see strong traction, institutional business, while growing, was subdued in Q4 of FY22 compared to the immediately preceding quarter.
Polycab India also observed that revenue for wires grew faster than that of cables. Housing wires posted strong growth led by continued momentum in real estate and renovation activities as well as demand generation initiatives.
It may be noted that in Q4 of FY22, a new sub brand “Etira” was launched in the economy price segment, in the home wires business.
Trade sentiment in cables was temporarily restrained by significant volatility in Aluminum prices, the company said, adding that cable export business was nearly 2x of last year.
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Demand from sectors like oil & gas, renewables and infrastructure remained strong globally. Overall, exports business was 7.6 per cent of consolidated revenue in FY22, in the wires & cables business.
Margins continued to improve sequentially led by judicious price hikes and improved operating leverage, Polycab India said.
Featured photograph shows overview of a manufacturing plant of Polycab India