Q4 2025 Polycab India Ltd Earnings Call Transcript
Key Points
- Polycab India Ltd (BOM:542652) achieved record-breaking revenue in FY25, crossing INR220 billion, making it the largest company in the electrical industry by revenue.
- The company reported a strong 25% year-on-year growth in consolidated revenue for Q4 FY25, with robust performance across all business segments.
- EBITDA grew by 35% year-on-year, resulting in a 110 basis points improvement in EBITDA margin, reaching 14.7% for the quarter.
- The Wires and Cables segment delivered 22% year-on-year growth, with domestic business recording an impressive 27% growth.
- The FMEG business turned profitable in Q4 FY25, marking a significant milestone after 10 quarters of strategic investments.
- Global trade tensions and policy uncertainty have led to a downward revision of global growth projections by the IMF.
- The international business witnessed a temporary dip due to the rollover of a large order into the next quarter.
- The company faces challenges from rising trade barriers and tariffs, particularly affecting the U.S. market.
- Despite strong domestic growth, the export business underperformed due to a business model transition in the U.S.
- The delayed onset of summer impacted the sales of fans, a key product in the FMEG segment.
Ladies and gentlemen, good day, and welcome to the Polycab India Limited Q4 FY25 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.
Thank you, operator. Good afternoon, everyone. Thank you for joining us. I hope all of you are staying healthy and safe. I'm Gandharv Tongia, Executive Director and CFO at Polycab India Limited. On this call, we shall discuss the Q4 FY25 results, which were approved in the Board meeting held yesterday. 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 T. Jaisinghani; and our Head, Investor
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