Polycab India shares rise 6% from day's low on Q4 results; check highlights

Business Standard

06-05-2025

Polycab share price today
Polycab share price gained 4.8 per cent on the BSE on Tuesday, May 6, 2025, after the electrical equipment maker reported solid results for the March 2025 quarter (Q4FY25).
On the stock exchange, Polycab shares hit a high of ₹6,078 per share, rising 6.1 per cent from the day's low of ₹5,727.45. The rise in Polycab shares today was led by healthy volumes with 0.12 million shares having changed hands, so far, on the BSE as against a two-week average of 0.019 million shares.
Polycab Q4 results 2025
For the March quarter of the previous financial year, Polycab India reported a net profit of ₹734.4 crore, up 33 per cent year-on-year (Y-o-Y) and 58 per cent quarter-on-quarter (Q-o-Q).
Its net profit margin expanded 60 basis points Y-o-Y and ~160 bps Q-o-Q to 10.5 per cent.
Operationally, the company's revenue rose 25 per cent Y-o-Y and 34 per cent Q-o-Q to ₹6,985.8 crore, while Ebitda (earnings before interest, tax, depreciation, and amortization) surged 35 per cent Y-o-Y and 42 per cent Q-o-Q to ₹1,025.4 crore. The company attributed the healthy revenue growth to robust performance across business segments.
That apart, Polycab's Ebitda margin improved by ~110 bps to 14.7 per cent in Q4FY25, driven by a profitable turnaround in the FMEG (fast moving electrical goods) business and stronger margins in the EPC business off a lower base.
For the entire financial year, Polycab India reported its highest-ever net profit of ₹2,045.5 crore, up 13 per cent Y-o-Y.
"Full year revenues rose by 24 per cent Y-o-Y to over ₹22,000 crore, exceeding the Project Leap FY26 revenue goal of ₹20,000 crore a year ahead of schedule. Polycab is now the largest company in the electrical industry by revenues," the management said in its statement.
It added: Quarterly net profit of Polycab India crossed ₹700-crore mark for the first time, contributing to a record annual PAT exceeding ₹2,000 crore. With this performance, Polycab continues to be the most profitable company in the electrical industry for the third consecutive year.
Polycab India FY25 results highlights
Apart from record net profit for the financial year, Polycab India saw market share gains in the domestic organised wire and cable (W&C) industry, from 25-25 per cent in FY24 to 26-27 per cent in FY25. This, Polycab said, was achieved via strategic internal initiatives.
The company also saw improvement in net cash balance via optimising cash flow. Net cash balance at the end of FY25 stood at ₹2,460 crore vs ₹2,140 crore Y-o-Y.
The company's dividend payout ratio increased to 26.3 per cent in FY25. Polycab India declared a dividend of ₹35 per share for FY25, up from ₹30 per share in FY24.
Polycab India share price history
So far in calendar year 2025, Polycab India shares have declined 20.2 per cent on the BSE as against an over 2 per cent rise in the BSE Sensex index.
The stock hit a record high of ₹7,607.15 per share on October 15, 2024. Its all-time low stands at ₹525, which it touched on August 22, 2019, while its 52-week low stands at ₹4,557.45 per share, hit on February 28, 2025.
Polycab India: Brokerage View, Stock Outlook
Polycab plans to invest ₹6,000-8,000 crore in the coming five years with major allocation towards C&W capacity expansion. The company plans to have its EHV cable production facility in Halol up and running by FY2026-end. Once operational, the company expects to achieve an asset turnover ratio of 4-5x and anticipates operating margin in the mid-teens range for the EHV cable segment.
"Polycab has successfully consolidated its leading position in the C&W industry by performing consistently. However, with entry of deep pocketed player valuations is likely to be set lower with expectations of rising competition. We envisage a 20 per cent/~21 per cent revenue/PAT CAGR over FY2024-FY2027, with a good RoCE of 32 per cent," analysts at Mirae Asset Sharekhan had said after the company's Q3FY25 results. The brokerage had assigned a 'Buy' rating then with a share price target of ₹7,300.