Polycab India beats quarterly profit estimates in Q4 on high demand for wires, cables; shares rise 2%

Polycab India beats quarterly profit estimates on high demand for wires, cables, shares rise 3%

Polycab India reported a stronger-than-expected fourth-quarter profit on May 6, buoyed by robust demand for its wires and cables from the real estate and power transmission sectors.

The company's consolidated net profit surged 33% to Rs 727 crore in the three-month period ended March 31. Analysts, on average, had expected a profit of Rs 612 crore, according to data compiled by LSEG.

Polycab India's revenue from operations rose 25% to Rs 6,986 crore, beating analysts' estimates of Rs 6,612 crore.

At 2:25 pm, Polycab India shares on BSE were trading 2% higher at Rs 5,923 apiece. The 52-week high of the stock is Rs 7,605 and 52-week low is Rs 4,555. The market capitalisation of the stock is nearly Rs 90,000 crore.

In the wires and cables segment, demand from real estate and power distribution sectors remains a lever of growth.

The government has announced plans to invest Rs 9.2 lakh crore in power transmission infrastructure by fiscal 2032, driving demand for high-voltage power cables.

Amid rising competition, analysts say Polycab has managed to capture market share from both larger rivals and unorganised players.

Polycab also saw a boost from strong pre-summer demand for its electrical goods, including fans.