Polycab India CFO Gandharv Tongia to Step Down by October 2025

1 min read     Updated on 05 Aug 2025, 11:34 PM
scanxBy ScanX News Team
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Overview

Gandharv Tongia, Executive Director and CFO of Polycab India Limited, has resigned citing personal reasons. His resignation will be effective on or before October 27, 2025. The company's Board and Management have acknowledged Tongia's contributions. This announcement was made in compliance with SEBI regulations and communicated to both BSE and NSE. Polycab India Limited, a leading manufacturer of wires and cables, has not yet announced a successor for the CFO position.

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*this image is generated using AI for illustrative purposes only.

Polycab India Limited , a leading manufacturer of wires and cables, has announced a significant change in its top management. Gandharv Tongia, the company's Executive Director and Chief Financial Officer (CFO), has tendered his resignation, citing personal reasons.

Key Details of the Resignation

  • Effective Date: Tongia's resignation will be effective from the close of business hours on or before October 27, 2025.
  • Position: Executive Director & CFO (Key Managerial Personnel)
  • Reason: Personal reasons, as stated in the company's filing

Company's Response

The Board of Directors and Management of Polycab India Limited have acknowledged Tongia's contributions during his tenure with the company. In an official statement, they expressed their sincere appreciation for his service.

Regulatory Compliance

Polycab India Limited has made this announcement in compliance with Regulation 30 read with Schedule III of the Securities and Exchange Board of India (SEBI) Listing Obligations and Disclosure Requirements Regulations, 2015. The company has duly informed both the BSE Limited and the National Stock Exchange of India Limited about this development.

About Polycab India Limited

Polycab India Limited is a prominent player in the Indian wire and cable industry. The company's registered office is located in Halol, Gujarat, while its corporate office is situated in Mumbai, Maharashtra.

Looking Ahead

As the transition period approaches, stakeholders will be keen to see how Polycab India Limited plans to fill this crucial position. The company has not yet announced a successor for the CFO role.

This change in the top management comes at a time when companies across sectors are focusing on strong financial stewardship to navigate the evolving economic landscape. Polycab India Limited's next steps in appointing a new CFO will be closely watched by investors and industry observers alike.

Historical Stock Returns for Polycab

1 Day5 Days1 Month6 Months1 Year5 Years
-0.49%+2.22%+1.46%+21.25%+3.24%+698.95%
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Polycab India Reports Record Q1 Results with 26% Revenue Growth and 47% EBITDA Surge

1 min read     Updated on 25 Jul 2025, 05:30 PM
scanxBy ScanX News Team
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Overview

Polycab India Limited achieved its highest-ever Q1 revenue, growing 26% year-on-year. The Wires and Cables segment saw 31% revenue growth with over 25% volume increase. EBITDA surged 47% with margins expanding to 14.50%. PAT reached ₹6.00 billion, up 49%. The FMEG business grew 18% and turned profitable. International business increased 24%. The company secured BharatNet orders worth ₹80.00 billion. Polycab maintains a strong financial position with ₹31.00 billion net cash.

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*this image is generated using AI for illustrative purposes only.

Polycab India Limited , a leading manufacturer of wires and cables, has reported stellar financial results for the first quarter, showcasing robust growth across key metrics.

Strong Revenue Growth

The company delivered its highest-ever Q1 revenue, with consolidated revenue growing 26% year-on-year. This impressive performance was primarily driven by the robust performance in the Wires and Cables business, which recorded a 31% revenue growth supported by over 25% volume growth.

Profitability Surge

Polycab's profitability saw a significant boost in Q1:

  • EBITDA surged 47% with margins expanding 210 basis points to 14.50%
  • Profit After Tax (PAT) reached ₹6.00 billion, reflecting a 49% growth
  • PAT margins improved by 170 basis points to 10.20%

Segment Performance

Wires and Cables

The Wires and Cables segment, Polycab's primary growth engine, continued its strong performance:

  • Revenue growth of 31% year-on-year
  • EBIT margins stood at 14.70%, improving by 190 basis points year-on-year
  • Cables outpaced wires in terms of year-on-year growth

FMEG Business

The Fast-Moving Electrical Goods (FMEG) business also showed positive momentum:

  • Achieved 18% growth
  • Delivered its second consecutive profitable quarter
  • Solar products emerged as the largest contributor within the FMEG portfolio, with over 2x growth

International Business

Polycab's international business demonstrated strong growth:

  • 24% year-on-year increase
  • Contributed 5.20% to consolidated revenue
  • Exports benefited from favorable tariff positioning compared to competitors

Financial Position

Polycab maintained a strong balance sheet:

  • Net cash position of ₹31.00 billion
  • Working capital cycle of 43 days

Strategic Developments

The company secured two significant BharatNet orders worth ₹80.00 billion, to be executed over the next 3 years, further strengthening its order book.

Management Commentary

Gandharv Tongia, Executive Director and CFO at Polycab India Limited, commented on the results: "We have had a strong start to the year. Our performance in the first quarter built on the solid trajectory we have maintained over the past 4 years, and marks our highest-ever Q1 revenue and profitability in the Company's history."

Tongia added, "Looking ahead, we see strong tailwinds from infrastructure spending, improving private sector investment, and momentum in the real estate sector. Guided by our long-term roadmap under Project Spring, we are executing with greater focus, agility, and ambition."

With a robust start to the quarter and a positive outlook, Polycab India appears well-positioned to capitalize on the growing demand in the wires and cables industry, as well as the emerging opportunities in the FMEG sector.

Historical Stock Returns for Polycab

1 Day5 Days1 Month6 Months1 Year5 Years
-0.49%+2.22%+1.46%+21.25%+3.24%+698.95%
like17
dislike
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