Polycab India shares slip 9% post Q3 earnings, check details

Shares of Polycab India Ltd slipped 9% after the cables and electricals firm reported its Q3 earnings. The FMEG stock slipped 9% to Rs 5,986.25 on Wednesday against the previous close of Rs 6562.85. Total 0.62 lakh shares of Polycab India changed hands amounting to a turnover of Rs 38.61 crore on BSE. Market cap of the firm stood at Rs 93,188 crore in the current session. Later, the stock closed 6.23% lower at Rs  6,145.15 on BSE. 

Net profit for the December 2024 quarter rose 10% to Rs 458 crore against Rs 412.85 crore in the corresponding quarter of the previous fiscal. 

The management said that it would be surpass its financial year 2026 revenue growth guidance of Rs 20,000 crore in the current financial year itself.

Revenue in the last quarter rose 20.4% from last year to Rs 5,226 crore. Operating EBITDA climbed 26% year-over-year to Rs 720 crore. The EBITDA margin stood at 13.8 percent in Q3.

However, total expenses rose sharply by 20 percent from the year-ago period to Rs 4,634 crore.

"Robust performance across businesses helped the Company register its highest ever third quarterly revenue. 9-month revenue surpassed the milestone of Rs 15,000 crore for the first time ever," Polycab said.

Polycab India has a one-year beta of 1.1, indicating high volatility during the period. Polycab India shares are trading lower than the 5 day, 10 day, 20 day, 30 day, 50 day, 100 day and 200 day moving averages. The FMEG stock is neither overbought nor oversold on charts, indicates its RSI at 40.7.

Polycab India Limited is the country's largest manufacturer of wires and cables. The company's business operations span across India through 23 manufacturing facilities, 15 plus offices and 25 plus warehouses.