Polycab India earnings calls.

Polycab India delivered its highest-ever Q1 revenue and PAT in Q1 FY24, with consolidated revenue growing 42Current 42 crore vs previous available quarter 21 crore.% YoY driven by 50%-60%Current 50%-60%. Reported change: Strong acceleration. volume growth in wires and cables. EBITDA surged 77% YoY with margins expanding 280bps to 14.1Current 14.1 crore vs previous available quarter 12.4 crore.%, while PAT jumped 81Current reported value: 81. No comparable prior figure is available in the source record.% to ₹402.8Current reported value: 402.8. No comparable prior figure is available in the source record. crore. The wires and cables segment (89% of revenue) benefited from robust government infrastructure spending and improving private CapEx, with EBIT margins at 14.8%Current 14.8%. Reported change: +330bps YoY. (+330bps YoY). International business grew 88% YoYCurrent 88% YoY. Reported change: +88% YoY. contributing 8.9% of consolidated revenue, now present across 72 countries. FMEG segment remains a drag with negative EBIT margins despite 3% YoY growth, though management maintains its FY26 target of 10% EBITDA margin for the segment. Working capital increased temporarily due to anticipated demand and copper pre-procurement ahead of supplier maintenance shutdowns. Management targets ~₹600 crore annual CapEx and is recalibrating its INR 20,000 crore FY26 revenue guidance given faster-than-expected trajectory. Key risk: FMEG demand recovery may take another 1-2 quarters amid muted consumer sentiment.