Polycab India Limited — Earnings Release 2019

May 14, 2019

POLYCAB INDIA LIMITED

(formerly known as "Polycab Wires Limited") @ Polycab House-771 Mogul Lane, Malu'm (W),Mumbai 400016 CIN No Tel ; +91 22 U31300DL1996PLC266483 2432 7070.74 Fax: +91 22 2432 7075 Email:Mm Web: mw.polycab.com

14th May, 2019

The Manager The Manager The Department of Corporate Services The Dalal Street, Mumbai —

BSE Listing Department Limited National Stock P.I. Towers Exchange of India Limited Exchange Plaza, Bandra Kurla Complex 400 001 Bandra (East), Mumbai — 400 051 Scrip Code: 542652 Scrip Code: POLYCAB

lSlN455K01017

Dear Sirs,

Sub: Media Release under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations 2017

In accordance with Regulation 30 ofthe Securities and Exchange Board ofIndia Obligations and Dlsclosure (Listing Media Release Requirements) Regulations, 2015, please find enclosed herewith a on the financial results ofthe company for the March, quarter and year ended 31St 2019.

We request you to take the same on record.

Thanking you

Yours faithfully, For Polycab India Limited

"\0/

Sai Subramaniam Narayana Company Secretary & Compliance Officer Membership No. F 5221

Registered Office 2 E 654 ,Greater Kailash 711, New Delhi-110048 India Tel ; 01149228574

For Immediate Release

Polvcab India Limited posts record annual performance FY2019 Revenue at Rs. 79 560 mn- up 18% 101 EBITDA up 28% 101 to Rs. 10 142 mn PAT up 40% 101 to Rs. 5 003 mn

Mumbai, May 14, 2019: Poiycab India Limited (BSE: 542652, NSE: POLYCAB) today announced its consoiidated resuits forthe fourth quarter and fuii year ended March 31 2019.

Commenting on the resuits, Mr. Inder Jaisinghani, Chairman and Managing Director, Poiycab India Limited, said: "I would like to express my sincere gratitude to our investorsfor the large oversubscription to our IPO and reposing theirfaith in us. The strong response we received reflects investor confidence in Polycab's value proposition. FY2019 has been a year of record performance with all business segments performing well. Our PATincreased by 40% to Rs. 500 crore. We have delivered on both top-line ana' profitabilityfor FY2019 and believe that we can continue this industry-outperformance in the years to come."

Record financials

• 0 Revenue (net of excise) grew 18% to Rs. 79,560 mn driven by growth in the wires and cabies business
• 0 The wires and cabies business grew 11% to Rs. 69,295 mn in FY2019 from Rs. 62,423 mn in FY2018
• o The FM EG business grew 33% to Rs. 6,433 mn in FY2019fr0rn Rs. 4,853 mn in FY2018
• o EBITDA increased by 28% to Rs. 10,142 mn on account of change in saies mix; EBITDA margin increased to 12.7% from 11.7%
• o EBIT margins in the cabies and wires business improved from 10.1% to 11.8%
• o PAT grew by 40% to Rs. 5,003 mn from Rs. 3,586 mn in FY2018
• o PAT margin upto 6.3%in FY2019fr0rn5.3%in FY2018
• o Deciared dividend of Rs. 3/share; payout of c.10%

hts on cause dated performance for the quarter en March 312019

• 0 Revenue increased by 16% to RS 24,448 mn from RS. 21,102 mn in Q4FY18
• 0 Wires and cabies segment grew at 13%t0 RS 21,216 from RS 18,770 in Q4FY18
• o EBITDA is at RS 2,630 mn and PAT is at RS 1,373 mn
• 0 Movement in EBIDTA margins driven by saies and product mix
• 0 On an annuai basis, few quarters may have a higher than normai EBITDA based on the saies mix. Past steady state EBITDA margin ranges between 11-13%

Robust balance sheet and cash flows

• 0 Gross debt iower by 66% to RS. 2,724 mn in FY2019 from RS. 8,003 mn in FY2018
• 0 Strong financiai position with totai cash and iiquid investments at Rs. 3,176 mn, taking the company to a net cash position
• 0 RDCE and ROE at 27.9% and 17.5%, respectiveiy for FY2019, from 21.0% and 15.2% in FY2018
• 0 Debt to equity at 0.1x as of March 31 2019 as compared to 0.34x as of March 31 2018

About Polycab

Polycab India Limited (PIL) is engaged in the business of manufacturing and selling wires and cables and Fast Moving Electrical Goods (FMEG) under the "POLYCAB" brand. PIL is the largest manufacturer in the wires and cables industry in India, in terms of revenue from the wires and cables segment (source: CRISIL Research). In the FMEG segment, PIL also manufactures and sells electric fans, LED lighting and luminaires, switches and switchgears, solar products and conduits and accessories.

PIL has 24 manufacturing facilities, including two joint ventures with Techno Electromech Private Limited ("Techno") and Trafigura Pte Limited. ("Trafigura"), located across the states of Gujarat, Maharashtra and Uttarakhand and the union territory of Daman and Diu. The Company has an established supply chain network in India comprising of over 3,100 authorised dealers and distributors and 30 warehouses. PIL supplies their products directly to authorised dealers and distributors who in turn supply these products to over 100,000 retail outlets in India.

For lurther inlormation, please www.polycab.com

Disclaimer: Certain statements that may be made or discussed at the conlerence call may be lorwardlooking statements and/or based on management's current expectations and beliefs concemlng future developments and their potential ellects upon Polycab and its BSSGCIBISS, The lorvi/ard-looking statements are not a guarantee ol luture performance and involve risks and uncertainties and there are important lactors that could cause actual results to diller, possibly materially, lrom expectations reflected in such lon/i/ard-looking statements, Polycab does not intend, and is under no obligation, to update any lon/i/ard-looking statement made at the conlerence call,