Electrical Equipment & Products company Polycab India announced H1FY25 & Q2FY25 results H1FY25 Financial Highlights: H1FY25 Revenue at Rs 1,01,965 million; up 26% YoY. H1FY25 EBITDA at Rs 12,149 million; up 5% YoY. H1FY25 PAT at Rs 8,468 million; up 2% YoY Q2FY25 Financial Highlights: Q2FY25 Revenue at Rs 54,984 million; up 30% YoY. Q2FY25 EBITDA at Rs 6,316 million; up 4% YoY. Q2FY25 PAT at Rs 4,452 million; up 4% YoY. Key Highlights: The Company’s revenues grew by 30% YoY to register its highest ever second quarterly revenue, on the back of robust growth across business segments. W&C; business revenue grew by 23% YoY to Rs 46,067 million, driven by favorable movement in commodity prices and continued strong demand environment. Domestically, the institutional business outpaced the distribution business, while growth in wires outperformed that in cables. The international business too posted remarkable results, growing by 36% QoQ and contributing 6.1% to our overall top-line. EBIT margins for the quarter were at 12.3%, adversely impacted by higher competitive intensity and lower contribution from the higher margin domestic distribution business. FMEG business registered a growth of 18% YoY, fueled by initiatives such as channel expansion, product architecture improvements, and robust execution of the influencer management program. Our Fan segment has performed well, with notable growth in online sales. The Switchgear segment too hasseen strong growth, benefiting from healthy real estate demand. Although the light and luminaries segment saw a decline in revenue due to pricing erosion, it achieved considerable volume growth. EBIT margins declined during the quarter due to higher A&P; spends and employee expenditures. Other businesses, largely comprising of the EPC business, registered a strong growth of 241% YoY during the quarter to Rs 5,488 million, on the back of robust execution of the EPC order book. Contribution from this business is expected to be in mid-to-high single digits to the Company’s consolidated revenue going forward. The EBITDA margin for the quarter stood at 11.5%, impacted by heightened competitive intensity in the W&C; business. Margin pressure was further exacerbated by the faster growth of the lower-margin institutional business compared to the distribution business, along with increased A&P; and employee expenses in the FMEG segment. PAT grew by 4% YoY to Rs 4,452 million in Q2FY25. PAT margin stood at 8.1% for the quarter. As of 30 th September 2024, net cash position stood at Rs 24.3 billion, against Rs 15.3 billion in the same quarter previous year. Inder T. Jaisinghani, Chairman and Managing Director, Polycab India, said: “We have concluded the first half of the financial year on a strong note, delivering our highest-ever second quarter and half yearly revenues and profit, driven by robust market demand. Further, CRISIL has upgraded its rating on our long-term bank facilities to “CRISIL AAA/Stable” reflecting our strong financial performance, market leadership position, and sustained growth prospects. Looking ahead, we expect the demand momentum to continue, supported by increased government spendings, continued investment by private players and robust real estate offtake. With a strong focus on operational excellence, we stand well positioned to capitalise on the emerging opportunities and drive steady growth.” Result PDF