POLYCAB INDIA Announces Quarterly Results (2QFY22); Net Profit Down 9.5%

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POLYCAB INDIA Announces Quarterly Results (2QFY22); Net Profit Down 9.5%
Tue, 26 Oct

POLYCAB INDIA has announced its results for the quarter ended September 2021. Here is a detailed performance review of the same:

POLYCAB INDIA Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-20*
3
Jun-21*
3
Sep-21*
QoQ ChangeYoY Change
Net SalesRs m21,13718,80531,28866.4%48.0%
Other incomeRs m3272532644.4%-19.4%
TurnoverRs m21,46419,05831,55265.6%47.0%
ExpensesRs m18,01217,41228,26062.3%56.9%
Gross profitRs m3,1251,3933,028117.3%-3.1%
DepreciationRs m4565215383.2%17.9%
InterestRs m11412288-27.4%-22.4%
Profit before taxRs m2,8821,0032,666165.7%-7.5%
TaxRs m664229658186.9%-0.9%
Profit after taxRs m2,2187742,008159.5%-9.5%
Gross profit margin%14.87.49.7
Effective tax rate%23.022.924.7
Net profit margin%10.34.16.4
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster


Year-on-Year Performance:
  • The company's operating income during the quarter grew 48.0% on a year-on-year (YoY) basis. The expenses were up by 56.9% YoY during the same period.
  • The company's operating profit declined by 3.1% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 9.7% in 2QFY22 as against 14.8% in 2QFY21.
  • Depreciation charges increased by 17.9% and finance costs declined by 22.4% YoY, respectively.
  • Other income declined by 19.4% YoY during the quarter.
  • Net profit for the quarter declined by 9.5% YoY. Net profit margins during the quarter declined from 10.3% in 2QFY21 to 6.4% in 2QFY22.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 66.4% on a quarter-on-quarter (QoQ) basis. The expenses were up by 62.3% QoQ during the same period.
  • The company's operating profit increased by 117.3% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 9.7% in 2QFY22 as against 7.4% in 1QFY21.
  • Net profit for the quarter increased by 159.5% QoQ, while net profit margins increased from 4.1% in 1QFY21 to 6.4% in 2QFY22.

To see how POLYCAB INDIA has performed over the last eight quarters,please visit here.

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POLYCAB INDIA Share Price Performance

Over the last one year, POLYCAB INDIA share price has moved up from Rs 957.3 to Rs 2,298.4, registering a Gain of Rs 1,341.1 or around 140.1%.

Overall, the S&P BSE SENSEX is up 51.0% over the year.

Current Valuations

At the current price of Rs 2,298.4, the price to earnings (P/E) ratio of POLYCAB INDIA stands at 41.6 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 7.3 times.

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