Gandharv Tongia
Executive Director and Chief Finance Officer, Polycab India Ltd.
In Q1FY24, the company has achieved the best ever quarterly revenues and profitability. The revenue of the company surged by 42 per cent on YoY basis to ₹3,889.4 crore while the net profit of the company zoomed by 81 per cent on YoY basis to ₹402.8 crore. What were the contributing factors to the company’s stellar results?
Our growth during the first quarter has been achieved on the back of a combination of several macro factors as well as through various strategic initiatives taken by us under Project LEAP. India’s capex cycle has witnessed a meaningful upswing in recent years with both public and private capex showing positive momentum. Moreover, the real estate industry, which drives most of the demand for wires, has been in an upward momentum over the past two years, registering exceptional growth numbers. In addition to domestic demand, we are witnessing remarkable growth in our international business with sectors like renewables, oil and gas and infrastructure driving the pace.
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