Q4 2024 Polycab India Ltd Earnings Call Transcript
Key Points
- Polycab India Ltd (BOM:542652) achieved a milestone of INR 1 billion in revenue during FY '24, marking the highest yearly profit in the company's history.
- The company registered its highest quarterly PAT, exceeding INR 5 billion for the first time, growing 29% year-on-year.
- EBITDA for the quarter grew by 26% year-on-year, with EBITDA margins improving to 13.6%, a 50 bps improvement quarter-on-quarter.
- The Wires & Cables business exhibited a growth of 22% year-on-year during the quarter, with domestic volume growth between 30% to 40%.
- Revenue from the International business bounced back with a 60% sequential growth, driven by strong sales in the Middle East, Europe, and UAE.
- The company is undergoing a transition in its business model in the USA, which is expected to take another 3 to 5 quarters to stabilize, impacting short-term international revenue.
- The Lighting & Luminaires segment registered a significant decline in EBIT margins due to onetime impacts and operational inefficiencies.
- The FMEG business, despite growth, is still lagging in profitability compared to industry peers, with continued losses in certain segments.
- There is a high dependency on government projects for the EPC business, which could pose risks if there are delays or changes in government policies.
- The company has planned significant CapEx of INR 10 billion to INR 11 billion each year over the next 2 to 3 years, which could strain financial resources if not managed properly.
Ladies and gentlemen, good day, and welcome to Polycab India Limited Q4 FY '24 Earnings Conference Call. (Operator Instructions) Please note that this conference is being recorded.
I now hand the conference over to Mr. Gandharv Tongia, Executive Director and Chief Financial Officer, Polycab India Limited. Thank you, and over to you, sir.
Good evening, everyone, and thank you for joining us. I hope all of you are staying healthy and safe. I am Gandharv Tongia, Executive Director and CFO at Polycab India Limited.
On this call, we shall discuss the quarter 4 and full year '23/'24 results, which were approved in the Board meeting held earlier today. We will be referring to the earnings presentation, financial results and financial statements, which are available on the stock exchanges as well as on the Investor Relations page of our website.
Joining me today from the management team, we have our Chairman and Managing Director, Mr. Inder Jaisinghani; and our
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