Polycab Q1 results: Net income declines 36% to Rs 75 crore
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MUMBAI: Wires and cables manufactureron Wednesday reported a 36 per cent decline in net income to Rs 75.3 crore for the first quarter ended June 30.On a low base, revenue grew by 93 per cent to Rs 1,880.5 crore despite the challenging business environment arising out of the lockdowns, Polycab India Chairman and Managing Director Inder T Jaisinghani said.Pre-tax profit in the June quarter jumped 151 per cent to Rs 98.2 crore, from Rs 39.1 crore in the year-ago period, reflecting improved profitability.However, its net income declined 36 per cent to Rs 75.3 crore compared to Rs 117.6 crore on account of one-off gains in the previous period, he said, without describing what the gain was.Net margin stood at 4 per cent during the quarter.The company’s net cash position in the first quarter stood at Rs 671.6 crore, up three times from the same period last year.Revenue from the wires and cables business doubled to Rs 1,586.2 crore from Rs 793.5 crore in Q1 of FY21. In the domestic business, cables outperformed wires partly due to low base, Jaisinghani said, adding exports contribution to overall revenue rose to 6 per cent from 4.5 per cent a year ago.The new FMCG business grew 39 per cent to Rs 191.9 crore against Rs 137.8 crore despite the closure of retail shops across many large states.Despite challenges posed by the lockdowns in many states, the business was better compared to the last year. We remain diligent in managing costs and navigating the volatile demand environment, Jaisinghani said.More importantly, we are progressing well on our strategic agenda of achieving new milestones, which will drive transformation over the mid to long-term, he added.Polycab owns 23 manufacturing facilities located across Gujarat, Maharashtra, Uttarakhand, and Daman.
Polycab Standalone June 2021 Net Sales at Rs 1,839.65 crore, up 85.41% Y-o-Y
Net Sales at Rs 1,839.65 crore in June 2021 up 85.41% from Rs. 992.22 crore in June 2020.
Quarterly Net Profit at Rs. 75.06 crore in June 2021 down 33.15% from Rs. 112.28 crore in June 2020.
EBITDA stands at Rs. 154.99 crore in June 2021 up 71.87% from Rs. 90.18 crore in June 2020.
Polycab EPS has decreased to Rs. 5.03 in June 2021 from Rs. 7.54 in June 2020.
Polycab shares closed at 1,953.85 on July 19, 2021 (NSE) and has given 60.60% returns over the last 6 months and 131.88% over the last 12 months.
Q1FY22 Results Expected Today – Bajaj Finserv, Ceat, Gland Pharma, Havells, Polycab, Rallis and More – List of 10 stocks - Investors must WATCH OUT for!
Even as the stock markets are closed today on account of Bakri-id, there will be some big action among the listed companies. At least 34 companies will be announcing their quarterly results today. Investors must visit the BSE and NSE website to know if the stocks they have invested in will be declaring results. Zee Business will lists a few of the companies here!
See Zee Business Live TV Streaming Below:
List of Companies expected to announce results are:
Bajaj Finserv – Investors watch out for this stock when the markets reopen tomorrow. The shares of Bajaj Finserv ended at Rs 12,613 on the NSE, down by Rs 108 or 0.8 per cent. The stock hit its 52-week high on 15 July to register Rs 13,110.
Ceat Limited – This stock ended at Rs 1399 on the BSE on Tuesday, down by R 26 or 1.88 per cent. The 52-week high for this stock is Rs 1763.15.
Gland Pharma Limited – Another company which will be announcing its results today. This stock ended at Rs 3800 on the NSE on Tuesday, down by Rs 58 or 1.5 per cent. The 52-week high of this stock is Rs 3999.90.
Havells India Limited – This stock ended at Rs 1097.95 on the NSE on Tuesday, down by Rs 8.30 or 0.78 per cent. The 52-week high of this stock is Rs 1231.90.
Jubilant Foodworks Limited - This stock ended at Rs 3072 on the NSE on Tuesday, down by Rs 10.65 or 0.35 per cent. The 52-week high of this stock is Rs 3332.70.
Polycab India Limited - This stock ended at Rs 1992 on the NSE on Tuesday, down by Rs 38.15 or 2.10 per cent. The 52-week high of this stock is Rs 2033.
Rallis India Limited - This stock ended at Rs 326.55 on the NSE on Tuesday, down by Rs 7 or 1.95 per cent. The 52-week high of this stock is Rs 2033.
Schaeffler India Limited - This stock ended at Rs 5382 on the NSE on Tuesday, down by Rs 74.85 or 1.37 per cent. The 52-week high of this stock is Rs 5747.95.
Shakti Pumps (India) Limited - This stock ended at Rs 828.90 on the NSE on Tuesday, down by Rs 30.90 or 3.59 per cent. The 52-week high of this stock is Rs 910.
Supreme Industries Limited - This stock ended at Rs 2115 on the NSE on Tuesday, up by Rs 6 or 0.29 per cent. The 52-week high of this stock is Rs 2339.95.