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Polycab India Limited : Q3FY21 Revenue at Rs. 27,988 mn; up 12% YoY

Polycab India Limited : Q3FY21 Revenue at Rs. 27,988 mn; up 12% YoY 1

Polycab India Limited (BSE: 542652, NSE: POLYCAB) today announced its consolidated results for the third quarter and nine months ended December 31, 2020.

Commenting on the performance, Mr. Inder T. Jaisinghani, Chairman and Managing Director, Polycab India Limited, said: We saw a great all-round performance in Q3 amidst lingering challenges. Business trends continue to improve and demand for B2C products remains buoyant with improving consumer sentiment. Accordingly, our top line has bounced back to growth along with considerable progress in return ratios, cashflow, financial position, distribution expansion and strategic initiatives. The results demonstrate the durability of our business model as well as our strong execution capability. Our relentless focus on providing quality solutions to customers along with strong organisation capabilities will augment Polycabs stature in the ‘Electricals’ ecosystem and provide a long pathway for profitable growth

Highlights on consolidated performance for the third quarter ended December 31, 2020

  • ·         Revenue grew 12% YoY to Rs. 27,988 mn, as against a decline of 6% YoY seen in Q2, with healthy underlying growth across segments and rising share of B2C business.
    • grew 6% YoY to Rs. 22,703 mn in Q3FY21 from Rs. 21,502 mn in Q3FY20 despite a high base. Construction activities are progressing, albeit at a slower pace. Consumer demand remains strong with improving sentiment. Wires saw strong traction.
    • grew 41% YoY to Rs. 3,055 mn in Q3FY21 from Rs. 2,166 mn in Q3FY20 on the back of buoyant consumer demand, distribution expansion, better product mix and pricing actions. Growth was broad based across most categories and regions. Profitability in Q3 improved despite higher A&P spends and input cost pressures due to improved product mix and calibrated pricing actions.
  • grew 19% YoY to Rs. 2,636 mn in Q3FY21 from Rs. 2,214 mn in Q3FY20. PAT margin at 9.4% in Q3FY21, was up 59bps YoY.
  • 13,335 mn. ROCE stood at 30.6% in Q3FY21.

Highlights on consolidated performance for the nine months ended December 31, 2020

  • ·         Revenue declined 12% YoY to Rs. 58,891 mn largely reflecting the impact of pandemic on earlier periods.
    • grew 5% YoY to Rs. 6,873 mn in 9MFY21 from Rs. 6,523 mn in 9MFY20.
  • declined 6% YoY to Rs. 6,812 mn in 9MFY21 from Rs. 7,268 mn in 9MFY20 on account of adverse operating leverage.
  • up 9% YoY at Rs. 6,027  mn in 9MFY21 from Rs. 5,505 mn in 9MFY20. PAT margin at 10.2% in 9MFY21, was up 202bps YoY partly reflecting few one off gains.
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