On 20th March 2025, Ploycab India Limited has seen today a significant drop in its stock prices, now trading at INR 5083.40, a 6.53% decrease from the previous close of INR 5,438.40.
Financial Perfirmance
In the 2023- 2024 fiscal year, Polycab delivered stable financial results:
- Earnings Per Shares(EPS): 122.28
- EBITDA: Q3 FY25 was INR 7,199 crore, up 26% year-on-year, with a margin of 13.8%.
- Revenue: Ploycab Revenue grew by 24% to ₹15,422 crore
- Profit AfterTax: INR 457.56 crore, an 11% increase year-over-year (YoY) from INR 412.85 crore
Recent Stock Movement
They have strong financial results, as this stock has dropped in recent months, so on 20th March 2025, the Polycab stock opened at INR 5,225, peaked at INR 5,242.05, and then fell to INR 5,4,913.65 before fixing at INR 5,083.40, which is down 6%.
Factor Behind the Decline
- Rising Expenses: In 2024, Polycab saw a 35% rise in expenses, squeezing the profit margin in Q2.
- Increased Competition: Competitors, like Adani Enterprises, have entered the wires and cables market, which is challenging the Polycab company's position as a new competitor.
- Regulatory Issues: The Income Tax Department found financial irregularities during the raids in 2023 December, which included INR 1000 crore in unaccounted sales.
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Market Outlook
Polycab remains the top wire and cable producer in India, to restore investor confidence, the company needs to address the growing competition and resolve its regulatory issues. So investors are watching these developments.
Conclusion
In conclusion, Polycab's past growth, and the recent stock price drop highlight the need for the Polycab company to dive all challenges to ensure all long-term success.
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