One of the biggest producers of cables and wires in the nation, Polycab India, anticipates financial gains from its distribution realignment starting in the current fiscal year, with the FMEG vertical likely to achieve profitability.
The company will invest over 700 crore as capital to set up the extra high voltage (EHV) products facility at Halol in Gujarat, according to Gandharv Tongia, Executive Director and CFO. The plant is anticipated to be operational by FY26 and to contribute between 800 and 1,000 crore over the next three years to the topline.
Investments into the facility will be made from “internal accruals”. The company has a positive cash position of about ₹1,900 crore, as of end-FY23, an improvement over around ₹1,100 crore in the year-ago period.
The improved cash position came of the back of a revenue, EBITDA and PAT growth of 8.9 per cent, 28 per cent and 33.5 per cent y-o-y, respectively.
