Shares of Polycab India Limited were in the spotlight today, Tuesday, as the stock jumped over 4% to touch an intraday high of ₹6,078.
This rise came after the company announced on May 6 a dividend of ₹35 per equity share for the financial year 2024-25.
This is the highest dividend declared by Polycab in the last six years. However, the record date for this dividend has not yet been announced.
Once approved in the annual general meeting, the dividend will be paid within 30 days from the meeting date.
Quarterly Results
Polycab India also announced its January-March quarter results today, which further boosted the stock.
The company reported a 25% rise in revenue, reaching ₹6,985.7 crore compared to the same quarter last year.
Its EBITDA grew by 34.7% to ₹1,025.7 crore, while margins improved by 110 basis points to 14.7%. Net profit rose 35% year-on-year to ₹727 crore, supported by strong revenue growth.
Company Overview
Polycab India Limited is the leading wire and cable manufacturer in India. It operates across the country with 23 manufacturing units, over 15 offices, and more than 25 warehouses.
The company has a one-year beta of 1.1, showing higher price volatility. Its shares are currently trading above the 5-day, 10-day, 20-day, 30-day, 50-day,
and 100-day moving averages but are still below the 150-day and 200-day averages.
The Relative Strength Index (RSI) stands at 65.8, indicating the stock is neither overbought nor oversold.
Details
The January-March quarter results, released today, helped the stock climb. Revenue increased 25% to ₹6,985.7 crore compared to the same period a year ago.
EBITDA went up 34.7% to ₹1,025.7 crore, and margins expanded by 110 basis points to 14.7%. Net profit grew 35% year-on-year to ₹727 crore due to strong revenue performance.
