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Last Updated : Apr 16, 2019 05:12 PM IST | Source: Moneycontrol.com

Rapid pace of growth will boost revenues: Polycab India CEO

"We have maintained a revenue CAGR of 14.3 percent in the last 5 years," Ramamurthi said.

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Polycab India made a strong stock market debut on Tuesday, listing at a  17 percent premium over its issue price. Ramakrishnan Ramamurthi, chief executive of the company, spoke to CNBC-TV18 about Polycab's revenue growth and outlook.

"We have maintained a revenue CAGR of 14.3 percent in the last 5 years," Ramamurthi said.

"Going forward CRISIL estimates that our industry will be growing at about 14.5 percent and we are the market leader with 18 percent share in the organised sector. Unorganised, which was at 39 percent in 2014, came down to 34 percent in 2018 and it is expected to come down to 26 percent in 2023. So we are going to be a significant beneficiary of that 8 percent movement from unorganized to organized," he added.

Talking about the business, Ramamurthi said: "As a company, we would like to say that whatever is the industry growth we are likely to grow healthier than that going forward plus the consumer electrical business, which has grown at about 50 percent CAGR in the course of the last 3 years is expected to build additional revenues for the company as we go along."

On the debt front, he said, "It has come down to Rs 550 crore as of December 2018. We will repay Rs 85 crore with IPO proceeds."

Source: CNBC-TV18

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First Published on Apr 16, 2019 03:06 pm
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