Wires & Cables business revenue for Q3 FY24 grew by 18% YoY, on the back of strong volume growth. The demand environment remained strong, supported by the government`s continuous focus on infrastructure development and a pickup in private capital expenditure. Domestically, both distribution and institutional businesses reported robust performances. Revenue from International business contributed 6.2% to the consolidated revenue for the quarter. The Company anticipates a healthy performance in International business during Q4 FY24 and beyond. EBIT margin for the quarter stood at 14.0%, witnessing a YoY improvement of 20 bps.

FMEG business registered a de-growth of 15% YoY in Q3 FY24, primarily due to sustained weakness in consumer demand. The Fans segment grew sequentially, but registered YoY de-growth, on account of a higher base of the previous year due to stock liquidation activities prior to the BEE transition. The Lights segment continued to decline, adversely impacted by further pricing erosion. Both Switches & Switchgears segments exhibited robust growth during the quarter. Higher Advertising and Promotion (A&P) spends and the absence of economies of scale resulted in accelerated bottom-line de-growth. During the quarter, the Company merged the FMEG and Power businesses under a unified Business Unit Head.

For year-to-date (YTD) results analysis.

Consolidated net sales (including other operating income) of Polycab India for nine month ended Dec 2023 has increased 27.22% to Rs 12447.55 crore.  Operating profit margin has jumped from 12.70% to 13.90%, leading to 39.25% rise in operating profit to Rs 1,730.26 crore.  Raw material cost as a % of total sales (net of stock adjustments) increased from 69.53% to 69.74%.   Purchase of finished goods cost fell from 4.07% to 3.30%.   Employee cost decreased from 3.43% to 3.36%.   Other expenses fell from 10.38% to 10.37%.   Selling and administration expenses rose from 1.01% to 1.23%.   Freight charges fell from 2.30% to 1.94%.   Other direct service cost rose from 0.97% to 1.38%.   Other income rose 104.18% to Rs 167.04 crore.  PBIDT rose 43.26% to Rs 1897.3 crore.  Provision for interest rose 165.63% to Rs 83.94 crore.  PBDT rose 40.27% to Rs 1813.36 crore.  Provision for depreciation rose 15.17% to Rs 179.32 crore.  Profit before tax grew 43.70% to Rs 1,634.04 crore.  Share of profit/loss were nil in both the periods.  Provision for tax was expense of Rs 384.6 crore, compared to Rs 280.36 crore.  Effective tax rate was 23.54% compared to 24.72%. Minority interest increased 31.94% to Rs 11.40 crore.  Net profit attributable to owners of the company increased 46.48% to Rs 1,238.04 crore.