Shares of Polycab India Limited are in focus today, Tuesday, with the stock rising over 4% to an intraday high of ₹6078. The surge follows the company’s announcement on May 6 regarding a dividend of ₹35 per equity share for the financial year 2024-25.
This is the highest dividend Polycab has announced in the past six years. However, the record date for the dividend has yet to be confirmed. If approved at the annual general meeting, the dividend will be paid within 30 days from the meeting date.
Quarterly Results
Polycab India also released its results for the January-March quarter today, contributing to the stock’s rise. The company reported a 25% increase in revenue, reaching ₹6,985.7 crore compared to the same period last year.
Its EBITDA grew 34.7% to ₹1,025.7 crore, and margins improved by 110 basis points to 14.7%. Net profit surged 35% year-on-year to ₹727 crore, driven by strong topline growth.
Company Overview
Polycab India Limited is the largest wire and cable manufacturer in India, with operations spread across the country through 23 manufacturing facilities, over 15 offices, and more than 25 warehouses.
The company’s one-year beta stands at 1.1, indicating higher volatility. Polycab India’s shares are currently trading higher than the 5-day, 10-day, 20-day, 30-day, 50-day,
and 100-day moving averages, but lower than the 150-day and 200-day moving averages. Its Relative Strength Index (RSI) stands at 65.8, suggesting the stock is neither overbought nor oversold.
Details
The company also shared its results for the January-March quarter today, which led to the stock reaching its high. Revenue rose 25% to ₹6,985.7 crore compared to the same quarter last year.
EBITDA increased by 34.7% to ₹1,025.7 crore, and margins grew by 110 basis points to 14.7%. Net profit surged by 35% year-on-year to ₹727 crore, driven by strong top-line growth.