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Polycab India set for 30 percent capex boost to Rs 1,100 cr

Wednesday, 15 May 2024
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Polycab India is set to initiate 30 percent ramp-up in capital expenditure (capex) from the existing Rs 800–850 crore. The capex increase would be around Rs 1,100 crore per year, for FY25, FY26 and FY27.

The capex would be utilised towards greenfield and brownfield projects at Hallol in Gujarat. Anticipating 'sustained demand' supported by the centre’s focus on infra-development and pick-up in private capital investment. The company would look at an 'industry leading growth' as it continues to focus on top-line improvement.

In FY24, the company saw a 29 percent year-on-year (y-o-y) rise in revenue to Rs 18,000 crore. Nearly 92 percent of it came from domestic operations, while the remaining was from international businesses. The upcoming Rs 700 crore extra-high voltage (EHV) plant at Hallol, is expected to be operational by FY26, while revenue benefits will accrue from FY27-onwards.

Other expansion projects such as a dedicated facility for exports and special cable facility, are expected to be operational over the next 12-18 months. With private capital in steel and cement, real estate, FMCG sectors and the government’s infra push, more investments are likely and expected to help sustain the demand momentum in the cables and wire segment.

The company's re-calibration of revenue guidance under ‘Project Leap’ is being managed, and the revenue guidance under the project is set at Rs 20,000 crore by FY26.

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