Polycab India Limited has informed the Exchange regarding 'Corporate Presentation on Audited Financial Results for quarter and year ended 31st March 2025'.
POLYCAB · price
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Polycab India reported strong FY25 results with consolidated revenue of ₹22,408 crore, up 24% year-on-year, EBITDA of ₹2,960 crore (up 19%), and profit after tax of ₹2,046 crore (up 13%). Q4 FY25 was the standout quarter, with revenue rising 25% year-on-year to ₹6,986 crore and profit up 33% year-on-year to ₹734 crore. The company wrapped up its Project LEAP initiative a year ahead of schedule, having already crossed the ₹20,000 crore revenue target that was originally set for FY26. Polycab has now launched Project Spring, a new five-year transformation programme, and shared five-year guidance including wires and cables EBITDA margins of 11–13%, FMEG margins of 8–10%, cumulative capex of ₹6,000–8,000 crore, dividend payout above 30%, and export contribution over 10% of revenue. The balance sheet remains strong with a net cash position of ₹2,457 crore and a CRISIL AAA/Stable rating, while the company holds a 26–27% share of the organised wires and cables market.
Strong Q4 numbers and the early achievement of Project LEAP targets are likely to lift investor sentiment, while the new Project Spring plan gives visibility on growth and margin path for the next five years. The mild dip in FY25 EBITDA margin (13.8% to 13.2%) and PAT margin (10.0% to 9.1%) is a small watch point, but the company remains net cash positive and is guiding for steady margins rather than expansion.