Our FY22 integrated report provides relevant information to our shareholders and other stakeholders of the performance, governance, material risks and opportunities, strategy and future prospects of Polycab.

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FY22
highlights

  • Financial
  • Non-financial
  • Operational

Financial

`1,22,038 million

Revenue (YoY growth of 39%)

`12,626 million

EBITDA (YoY growth of 14%)

`9,173 million

PAT (YoY growth of 4%)

Non-financial

67+ million litres

Total water recycled

`192 million

CSR expenditure

17%

Electricity from renewable resources

Operational

Organisation enablers

Completed most of talent acquisition for critical roles across businesses and functions

Market excellence

Built presence in emerging India (semi-urban and rural) and alternate channels

Customer centricity

Redesigned operating model of B2B businesses

New products

Launched ‘Etira’ to cater to economy price segments

Key performance indicators

Numbers that tell our growth story

We reported strong performance with growth led by strong demand in cables and wires segment. Project leap remains on track. We expect to outpace industry growth in both cables & wires and FMEG segment by market share gain through setting up of right organisation enablers, augmenting GTM strategy, and product portfolio optimisation.

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Profit and Loss indicators

Balance Sheet indicators

Shareholder indicators

Message from Chairman and Managing Director

Remaining
focused on delivering excellence

We have put in considerable effort over the past two years in product development, getting requisite regulatory approvals and penetrating new geographies.

Inder T. Jaisinghani Chairman & Managing Director

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Q&A with the CFO

A tête-à-tête with
Gandharv Tongia

We have an exhaustive medium-term road map which clearly defines our growth drivers, margin drivers, new product pipeline, geographic penetration plan etc.

Gandharv Tongia Chief Financial Officer

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Business model

Leveraging our strengths to create sustainable value

We operate in a competitive, highly regulated industry across multiple geographies. To thrive in this environment, we operate an integrated business model that is focused on creating value at every point and for every stakeholder.

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Strategy and capital allocation

Framework for
delivering on objectives

Our strategy aims to deliver strong returns to shareholders, best-in-class and sustainable products to customers and consistent value to all stakeholders.

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Growth led by diversification

Progress made during the year

  • Launched new products and variants
  • Increased authorised dealers and distributors from 4,100+ to 4,600+
  • Increased retail outlet reach from 1.65+ lakh to 2.05+ lakh, nearly 25% YoY
  • Created a focused vertical to penetrate emerging clusters in both semi-urban and rural India Built presence in alternate channels such as
  • e-commerce, modern trade etc.
  • Forayed into new several new geographies globally

Improving
profitability

Progress made during the year

  • Launched several margin-accreditive products
  • Calibrated price hikes
  • Significant thrust on premiumisation
  • Focus on project allocation for better RoCE
  • Working capital optimisation

Enhancing
brand recall

Progress made during the year

  • Digital campaigns like Love@First Sight, HapHap Happy to reach out to vast target audience
  • BTL marketing activities such as branding and merchandising, sales promotion, direct marketing

Working capital
optimisation

Progress made during the year

  • Increased adoption of dealer portal
  • Increase share of channel finance
  • Optimising inventory levels across factories and warehouses

Capability development and implementation

Progress made during the year

  • Augmented team structure
  • Re-designed business operating model
  • Successfully piloted end-to-end digitalisation of front-end sales
  • Skill training
Project Leap

A multi-year transformation journey

We aim to achieve industry leading growth rate in line with marquee value creators, cement market leadership in wires and cables and build a robust new age consumer electricals business.

Project Leap is a multi-year transformational programme aimed at having the right building blocks in place which will enable us to achieve `200 billion of the top line by FY26.

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Making significant strides towards achieving our vision

Setup of right
organisation enablers

Go-to-Market
excellence

Customer centricity:
Foundational moves

Winning with
new products

ESG roadmap

Making responsible choices

As a socially and environmentally responsible business, Polycab is focused on growing sustainably to build long-term stakeholder value. By embracing sustainable development – and going beyond minimum information disclosure requirements and regulatory compliance – we aim to deliver value to our employees, customers, suppliers, partners, shareholders and society as a whole.

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Value created for
Stakeholders

Investors

Creating shared value

Material issues addressed

  • Innovation
  • Strengthening brand recognition

Key risks considered

  • Operational risks
  • Strategic risks
  • Financial risks
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SDGs
impacted
Customers

Prioritising customer satisfaction

Material issues addressed

  • Strengthening brand recognition
  • Innovation

Key risks considered

  • COVID-19 disruptions
  • Customer service and aftersales management
  • Environment, climate as well as employee health and safety
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SDGs
impacted
People

Building a culture of excellence

Material issues addressed

  • Leadership in wires and cables
  • Diversity and inclusion

Key risks considered

  • COVID-19 disruptions
  • Customer service and aftersales management
  • Distribution network
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SDGs
impacted
Channel partners

Building strong relationships of trust

Material issues addressed

  • Distribution network
  • Product stewardship

Key risks considered

  • COVID-19 disruptions
  • Customer service and aftersales management
  • Distribution network
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SDGs
impacted
Communities

Living up to our social responsibility

Material issues addressed

  • Corporate social responsibility

Key risks considered

  • COVID-19 disruptions
  • Geopolitical and social instability
  • Environment, climate as well as employee health and safety
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SDGs
impacted
Environment

Preparing for a low-carbon future

Material issues addressed

  • Material sourcing and efficiency
  • Climate change and energy

Key risks considered

  • Environment, climate as well as employee health and safety
  • Changing customer preferences
  • Financial risks
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SDGs
impacted

Governance and ethics

Corporate governance

Board
of Directors

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Risk management

Future proofing the business

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Leadership team

Leading with efficiency

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