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Polycab India Ltd.

BSE: 542652 Sector: Engineering
NSE: POLYCAB ISIN Code: INE455K01017
BSE 00:00 | 24 Apr 2020 Polycab India Ltd
NSE 05:30 | 01 Jan 1970 Polycab India Ltd

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OPEN 759.00
PREVIOUS CLOSE 742.80
VOLUME 9133
52-Week high 1180.00
52-Week low 525.05
P/E 15.79
Mkt Cap.(Rs cr) 10,698
Buy Price 715.00
Buy Qty 30.00
Sell Price 718.35
Sell Qty 30.00
OPEN 759.00
CLOSE 742.80
VOLUME 9133
52-Week high 1180.00
52-Week low 525.05
P/E 15.79
Mkt Cap.(Rs cr) 10,698
Buy Price 715.00
Buy Qty 30.00
Sell Price 718.35
Sell Qty 30.00

Polycab India Ltd. (POLYCAB) - Company History

In 1964 Late Thakurdas Jaisinghani had established `Sind Electric Stores' which dealt in various electrical products including fans lighting switches and wires. Subsequently the family business was managed from 1968 by Girdhari T. Jaisinghani Inder T. Jaisinghani Ajay T. Jaisinghani and Ramesh T. Jaisinghani being sons of Late Thakurdas Jaisinghani. Ajay T. Jaisinghani and Ramesh T. Jaisinghani along with certain members of the promoter group founded a partnership firm in the name of `Thakur Industries' under the Indian Partnership Act 1932. Subsequently the partners of `Thakur Industries' entered into a lease agreement with MIDC in 1975 in respect of a parcel of land at Andheri Mumbai for the purposes of setting up a factory for manufacturing cables and wires which was in operation until 1984. In 1983 `Polycab Industries' a partnership firm founded by Inder T. Jaisinghani Ajay T. Jaisinghani Ramesh T. Jaisinghani and Girdhari T. Jaisinghani was registered as a small scale industrial unit by the Directorate of Industries Government of Gujarat in respect of a factory located at Halol for manufacturing/processing activity of `PVC insulated wires and cables copper and aluminium and bare copper wire.In 1998 `Polycab Industries' was subsequently converted into a private limited company as `Polycab Industries Private Limited'. Polycab Industries Private Limited was subsequently amalgamated with in 2011.On January 10 1996 Polycab India Limited was incorporated as a private limited company with the name `Polycab Wires Private Limited'. On June 30 2000 the Company became a deemed public limited company and the word `private' was struck off from the name of the Company with effect from June 30 2000. Thereafter the Company was converted into a private limited company and the word `private' was added in the name of the Company with effect from June 15 2001. Later the Company was converted into a public limited company the word `private' was struck off from the name of the Company and the name was changed to `Polycab Wires Limited'. Thereafter the name of the Company was changed from `Polycab Wires Limited' to `Polycab India Limited' on October 13 2018 to reflect the overall line of business in which the Company is engaged such as cables and wires FMEG EPC etc. The Company is engaged in the business of manufacturing and selling wires and cables and fast moving electrical goods ('FMEG') under the 'POLYCAB' brand. The company is the largest manufacturer in the wires and cables industry in India in terms of revenue from the wires and cables segment and provide one of the most extensive range of wires and cables in India. Apart from wires and cables manufacture and sell FMEG such as electric fans LED lighting and luminaires switches and switchgears solar products and conduits and accessories. Polycab India manufactures and sells a diverse range of wires and cables and its key products in the wires and cables segment are power cables control cables instrumentation cables solar cables building wires flexible cables flexible/single multi core cables communication cables and others including welding cables submersible flat and round cables rubber cables overhead conductors railway signaling cables specialty cables and green wires. In 2009 the company diversified into the engineering procurement and construction ('EPC') business which includes the design engineering supply execution and commissioning of power distribution and rural electrification projects. In 2014 the company diversified into the FMEG segment and its key FMEG are electric fans LED lighting and luminaires switches and switchgears solar products and conduits and accessories.The Company has 24 manufacturing facilities including its two joint ventures with Techno Electromech Pvt Ltd. ('Techno') and Trafigura Pte Ltd ('Trafigura') located across the states of Gujarat Maharashtra and Uttarakhand and the union territory of Daman and Diu. Four of these 24 manufacturing facilities are for the production of FMEG including a 50:50 joint venture with Techno a Gujarat-based manufacturer of LED products. In 2016 the company entered into a 50:50 joint venture with Trafigura a commodity trading company to set up a manufacturing facility in Waghodia India to produce copper wire rods (the 'Ryker Plant'). The Company expects the Ryker Plant to commence commercial operations by the end of Fiscal 2019 with an estimated annual capacity of 225000 MT of copper wire rods once it is fully operational. The Ryker Plant will strengthen the backward integration of manufacturing process as the company expects that it will meet a substantial part of their demand for copper wire rods for the manufacturing of its wires and cables and FMEG. The Company strives to deliver customized and innovative products with speed and quality service. Most of their manufacturing facilities are accredited with quality management system certificates for compliance with ISO 9001 ISO 14001 and OHSAS 18001 requirements. The Company's central quality and test laboratory in Halol is accredited by NABL and its central test laboratory also located in Halol for all flexible wires and cables is approved by Underwriters Laboratories ('UL'). Certain of their products are also certified to be compliant with various national and international quality standards including Bureau of Indian Standards ('BIS') British Approvals Service for Cables ('BASEC') UL and international electrotechnical commission ('IEC').The Company has an established supply chain comprising its network of authorized dealers distributors and retailers. This network supplies its products across India. The Company works closely with major power utilities oil and gas IT parks metro rail infrastructure metal and non-metal cement and EPC companies that operate in India and abroad. The Customers include institutional clients such as L&T Construction and government clients such as Konkan Railway Corporation Ltd. Polycab India came out with an Initial Public Offering (IPO) of 25022067 equity shares of Face Value of Rs 10 each of the company for cash at a price of Rs 538 per equity share (including a share premium of Rs 528 per equity share) aggregating Rs1345.26 Crores. The offer comprises of a fresh issue of 7.440067 equity shares aggregating Rs 400 crores by the company (fresh issue) and an offer for sale of 17582000 equity shares by investor selling shareholder the promoter selling shareholders the promoter group-selling shareholder and the individual selling shareholder aggregating Rs 945.26 Crores. The face value of equity shares is Rs 10 each. The IPO was priced at Rs 538 per equity share.


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