Polycab India Limited — Interim / Quarterly Report 2021

Jul 21, 2020

POLYCAB INDIA LIMITED

(formerly known as Polycab Wires Limited) Polycab House, 771 Mogul Lane, Mahim (W), Mumbai – 400016 CIN: L31300GJ1996PLC114183 Tel : +91 22 2432 7070-74 Fax : +91 22 2432 7075 Email: shares@polycab.com Website: www.polycab.com

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Date: 21[st] July 2020

To Department of Corporate Services BSE Limited Phiroze Jeejeebhoy Towers, Dalal Street Mumbai – 400 001

To Listing Department National Stock Exchange of India Limited C-1, G-Block, Bandra-Kurla Complex Bandra (E), Mumbai – 400 051

Scrip Code: 542652 Scrip Symbol: Polycab ISIN:- INE455K01017

Dear Sir / Madam

Sub: Outcome of the Board Meeting under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (‘SEBI (LODR) Regulations, 2015’).

With reference to the captioned subject, please be informed that the Board of Directors of the Company at its meeting held today i.e., 21[st] July 2020, inter alia considered and approved the Un-audited Standalone and Consolidated Financial Results along with the Limited Review Report issued by M/s. B S R & Co. LLP, Chartered Accountants, Statutory Auditors for the quarter ended 30[th] June, 2020, which has been duly reviewed and recommended by the Audit Committee.

The Board Meeting commenced at 2.15 p.m. and concluded at 5.00 p.m.

The Un-audited Standalone and Consolidated Financial Results will be made available on the Company’s website i.e. www.polycab.com

Kindly take the same on your record.

Thanking you

Yours Faithfully For Polycab India Limited

NARAYANA Digitally signed by NARAYANA SUBRAMANIM SUBRAMANIMAM SAI AM SAI Date: 2020.07.21 17:01:35 +05'30'

Sai Subramaniam Narayana Company Secretary and Compliance Officer Membership No.: F5221

Encl.: Un-audited Standalone and Consolidated Financial Results along with the Limited Review Report issued by M/s. B S R & Co. LLP, Chartered Accountants, Statutory Auditors for the quarter ended 30[th] June 2020.

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Registered Office: Unit No.4, Plot No.105, Halol Vadodara Road, Village Nurpura, Taluka Halol, Panchmahal, Gujarat-389350 Tel : 2676- 227600 / 227700

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Limited review report on unaudited quarterly consolidated financial results of Polycab India Limited (Formerly Known as “Polycab Wires Limited”) under Regulation 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015

To

Board of Directors of Polycab India Limited (Formerly Known as “Polycab Wires Limited”)

1. We have reviewed the accompanying Statement of unaudited consolidated financial results of Polycab India Limited (Formerly Known as “Polycab Wires Limited”) (“the Parent”) and its subsidiaries as listed in paragraph 4 (the Parent and its subsidiaries together referred to as “the Group”), and its share of the net profit after tax and total comprehensive income of its joint ventures as listed in paragraph 4 for the quarter ended 30 June 2020 results for the period from 1 April 2020 to 30 June 2020 (“the Statement”), being submitted by the Parent pursuant to the requirements of Regulation 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (‘Listing Regulations’).

2. This Statement, which is the responsibility of the Parent’s management and approved by the Parent’s Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 “ Interim Financial Reporting ” (“Ind AS 34”), prescribed under Section 133 of the Companies Act, 2013, and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations. Our responsibility is to express a conclusion on the Statement based on our review.

3. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410 “ Review of Interim Financial Information Performed by the Independent Auditor of the Entity ”, issued by the Institute of Chartered Accountants of India. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

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Limited review report on unaudited quarterly consolidated financial results and consolidated year to date financial results of Polycab India Limited (Formerly Known as “Polycab Wires Limited”) under Regulation 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (Continued)

We also performed procedures in accordance with the circular issued by the Securities and Exchange Board of India under Regulation 33 (8) of the Listing Regulations, to the extent applicable.

1. Attention is drawn to the fact that the figures for the 3 months ended 31 March 2020 as reported in these financial results are the balancing figures between audited figures in respect of the full previous financial year and the published year to date figures up to the third quarter of the previous financial year. The figures up to the end of the third quarter of previous financial year had only been reviewed and not subjected to audit

2. The Statement includes the financial statements of the following entities:

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Sr. No. Name of the Company Relationship
1 Dowells Cable Accessories Private Limited Subsidiary Company
2 Polycab Wires Italy SRL Subsidiary Company
3 Tirupati Reels Private Limited Subsidiary Company
4 Polycab USA LLC Subsidiary Company
5 Polycab Electricals & Electronics Private Limited Subsidiary Company
6 Ryker Base Private Limited Subsidiary Company
(upto 4 May 2020 was an Associate)
7 Techno Electromech Private Limited Joint Venture Company
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1. Based on our review conducted and procedures performed as stated in paragraph 3 above and based on the consideration of the audit reports of the other auditors referred to in paragraph 6 below, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standard and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of Regulation 33 of the Listing Regulations, including the manner in which it is to be disclosed, or that it contains any material misstatement.

2. We did not review the interim financial statements of four subsidiary Companies included in the unaudited quarterly and year to date consolidated financial results, whose interim financial statements reflect total revenues of Rs 251.27 million, total loss after tax (net) of Rs 23.17 million and total comprehensive income (net) of Rs 23.16, for the quarter ended 30 June 2020, respectively, as considered in the consolidated unaudited financial results. The consolidated unaudited financial results also include the Group’s share of net (loss) after tax (net) of Rs 11.68 million and total comprehensive loss (net) of Rs 11.68 million for the quarter ended 30 June 2020 and for the period 1 April 2020 to 30 June 2020, respectively, as considered in the Statement, in respect of one joint ventures, whose interim financial statements have not been reviewed by us. These interim financial statements have been audited by other auditors whose reports have been furnished to us by the management and our report on the Statement, in so far as it relates to the amounts and disclosures included in respect of these subsidiaries and joint ventures, is based solely on the reports of the other auditors and the procedures performed by us as stated in paragraph 3 above.

Limited review report on unaudited quarterly consolidated financial results and consolidated year to date financial results of Polycab India Limited (Formerly Known as “Polycab Wires Limited”) under Regulation 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (Continued)

One of the subsidiary Company which is located outside India whose annual financial statement and other financial information have been prepared in accordance with the accounting principles generally accepted in their respective country and which have been audited by other auditors under generally accepted auditing standards applicable in their respective country. The Company's management has converted the annual financial statement and other financial information of such subsidiary Company located outside India from accounting principles generally accepted in their respective country to accounting principles generally accepted in India. We have reviewed these conversion adjustments made by the Company's management. Our opinion in so far as it relates to the balances and affairs of such subsidiary Company located outside India is based on the report of other auditor and the conversion adjustments prepared by the Management of the Company and reviewed by us.

Our opinion on the unaudited quarterly consolidated financial results is not modified in respect of the above matter with respect to our reliance on the work done and the reports of the other auditors.

For B S R & Co. LLP Chartered Accountants Firm's Registration No: 101248W/W-100022

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Bhavesh Dhupelia

Mumbai 21 July 2020

Partner Membership No: 042070 UDIN: 20042070AAAADC8811

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Polycab India Limited (Formerly known as 'Polycab Wires Limited')

Registered office: Unit 4, Plot Number 105, Halol Vadodara Road, Village Nurpura, Taluka Halol, Panchmahal, Gujarat Corporate Office : Polycab House, 771, Mogul Lane, Mahim (West), Mumbai

Phone no. +91 22 67351400, CIN : L31300GJ1996PLC114183

Website: www.polycab.com, E-mail: shares@polycab.com

CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER 30 JUNE 2020

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Quarter ended Year ended
Sr. 30 June 20 31 Mar 20 30 June 19 31 Mar 20
Particulars
No. Audited
Unaudited Unaudited Audited
(Refer note vi)
1) Income
(a) Revenue from operations 9,765.95 21,293.81 19,513.24 88,299.55
(b) Other income (refer note ii) 336.28 464.57 335.59 927.92
Total Income 10,102.23 21,758.38 19,848.83 89,227.47
2) Expenses
(a) Cost of materials consumed 5,129.55 13,565.40 13,213.71 58,637.06
(b) Purchases of traded goods 424.56 928.88 1,017.46 4,246.12
(c)
Changes in inventories of finished goods, traded goods and work-in-progress 1,262.18 (484.48) (724.55) (2,371.48)
(d) Project bought outs and other cost 280.80 759.50 771.44 3,174.46
(A) Total material cost (a to d) 7,097.09 14,769.30 14,278.06 63,686.16
(e) Employee benefits expense 812.48 898.59 920.07 3,657.46
(f) Finance cost 162.96 159.25 123.21 495.35
(g) Depreciation and amortisation expense 442.72 421.80 384.99 1,608.87
(h) Advertisement and sales promotion 31.73 185.07 385.63 1,086.78
(i) Freight and forwarding expense 264.72 499.10 432.94 1,896.74
(j) Other expenses 985.16 1,936.03 1,260.26 6,622.15
(B) Total expenses other than material cost (e to j) 2,699.77 4,099.84 3,507.10 15,367.35
Total expenses (A+B) 9,796.86 18,869.14 17,785.16 79,053.51
3) Profit before share of profit/(loss) of joint ventures and exceptional items (1-2) 305.37 2,889.24 2,063.67 10,173.96
4) Share of loss of joint ventures (net of tax) (11.68) (57.81) 2.19 (74.08)
5) Profit before tax & exceptional items (3+4) 293.69 2,831.43 2,065.86 10,099.88
6) Exceptional items (refer note 1) 97.18 - - -
7) Profit before tax(5+6) 390.87 2,831.43 2,065.86 10,099.88
8) Income tax expenses
(a) Current tax 80.25 541.80 730.15 2,480.05
(b) Adjustment of tax relating to earlier periods (refer note ii) (861.07) (26.07) (1.49) (34.05)
(c) Deferred tax (credit)/charge (3.86) 164.22 (15.53) (2.30)
Total tax expenses (784.68) 679.95 713.13 2,443.70
9) Profit for the period (7-8) 1,175.55 2,151.48 1,352.73 7,656.18
Attributable to:
Equity shareholders of parent company 1,176.02 2,139.37 1,345.12 7,590.57
Non controlling interests (0.47) 12.11 7.61 65.61
10) Other comprehensive income
Items that will not be reclassified to profit or loss (6.91) (33.63) (40.12) (50.94)
Income tax related to items that will not be reclassified to profit or loss 1.80 8.50 14.02 12.86
Items that will be reclassified to profit or loss 302.54 (169.14) (0.30) (168.35)
Income tax relating to items that will be reclassified to Profit or Loss (76.06) 42.54 - 42.54
Total other comprehensive income (net of tax) 221.37 (151.73) (26.40) (163.89)
11) Total comprehensive income (net of tax) (9+10) 1,396.92 1,999.75 1,326.33 7,492.29
Attributable to:
Equity shareholders of parent company 1,397.39 1,987.50 1,318.72 7,426.54
Non controlling interests (0.47) 12.25 7.61 65.75
12) 10 each) 1,489.33 1,488.79 1,486.46 1,488.79
13) Other equity 36,875.36
14) Earnings per share (not annualised for quarters)
(a) Basic earnings per share ( ) 7.90 14.38 9.12 51.16
(b) Diluted earnings per share ( ) 7.87 14.28 9.12 50.97
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Polycab India Limited (Formerly known as 'Polycab Wires Limited')

Registered office: Unit 4, Plot Number 105, Halol Vadodara Road, Village Nurpura, Taluka Halol, Panchmahal, Gujarat Corporate Office : Polycab House, 771, Mogul Lane, Mahim (West), Mumbai

Phone no. +91 22 67351400, CIN : L31300GJ1996PLC114183

Website: www.polycab.com, E-mail: shares@polycab.com

CONSOLIDATED SEGMENT INFORMATION FOR THE QUARTER ENDED 30 JUNE 2020

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Quarter ended Year ended
Sr. 30 June 20 31 Mar 20 30 June 19 31 Mar 20
Particulars
No. Audited
Unaudited Unaudited Audited
(Refer note vi)
1) Segment revenue
a) Wires and cables 8,252.11 18,605.42 16,374.88 75,898.39
b) FMEG 1,377.98 1,832.68 2,400.87 8,355.78
c) Copper 149.85 - - -
d) Other 533.73 1,591.51 1,225.51 5,964.93
Total 10,313.67 22,029.61 20,001.26 90,219.10
Less: Inter segment revenue (424.34) (361.84) (270.85) (1,440.68)
Total Income (excluding finance income) 9,889.33 21,667.77 19,730.41 88,778.42
2) Segment results
a) Wires and cables 244.10 2,827.10 1,861.87 9,308.86
b) FMEG (55.62) 1.13 87.74 168.28
c) Copper (2.51) - - -
d) Other 71.69 165.11 118.85 903.06
Total 257.66 2,993.34 2,068.46 10,380.20
Less: Inter segment result (2.23) (35.46) - (159.94)
Total 255.43 2,957.88 2,068.46 10,220.26
Un-allocated items:
a) Financial income 212.90 90.61 118.42 449.05
b) Finance costs (162.96) (159.25) (123.21) (495.35)
Profit before share of profit/(loss) of joint ventures & exceptional item 305.37 2,889.24 2,063.67 10,173.96
Share of profit/(loss) of joint ventures (net of tax) (11.68) (57.81) 2.19 (74.08)
Exceptional items 97.18 - - -
Profit before tax 390.87 2,831.43 2,065.86 10,099.88
3) Segment Assets
a) Wires and cables 41,791.07 43,265.39 43,314.61 43,265.39
b) FMEG 4,409.23 5,379.76 5,341.49 5,379.76
c) Copper 3,061.35 - - -
d) Other 5,988.00 6,287.45 5,875.62 6,287.45
Total 55,249.65 54,932.60 54,531.72 54,932.60
Un-allocated assets 6,930.14 4,428.57 4,946.44 4,428.57
Investment accounted for using the equity method 108.80 254.77 331.04 254.77
Total assets 62,288.59 59,615.94 59,809.20 59,615.94
4) Segment Liabilities
a) Wires and cables 11,851.98 13,186.76 16,063.86 13,186.76
b) FMEG 1,156.72 1,587.47 1,209.75 1,587.47
c) Copper 2,205.71 - - -
d) Other 3,940.17 3,093.76 4,581.55 3,093.76
Total 19,154.58 17,867.99 21,855.16 17,867.99
Un-allocated liabilities and provisions 3,174.74 3,233.80 4,563.61 3,233.80
Total liabilities 22,329.32 21,101.79 26,418.77 21,101.79
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Polycab India Limited (Formerly known as 'Polycab Wires Limited')

Registered office: Unit 4, Plot Number 105, Halol Vadodara Road, Village Nurpura, Taluka Halol, Panchmahal, Gujarat Corporate Office : Polycab House, 771, Mogul Lane, Mahim (West), Mumbai Phone no. +91 22 67351400, CIN : L31300GJ1996PLC114183

Website: www.polycab.com, E-mail: shares@polycab.com

Notes:

• i) On 6 May 2020, the Group acquired the balance 50% equity shares in Ryker Base Private Limited for a consideration of 303.82 million making it a wholly-owned subsidiary. As per Ind AS 103 - Business Combinations, the Group has allocated purchase price on net assets acquired on proivisional basis and 97.18 million was recognised as gain on derecognition of previously held equity interest and disclosed as exceptional item. Due to this acquisition, the figures for the three months ended 30 June 2020 are not comparable with the previous periods.

• ii) During the current quarter, the Parent Company has received a favourable order from Honourable Income-Tax Appellate Tribunal for AY 2012-13 to 2015-16 resulting into write back of income-tax provision of 839.52 million and recognition of interest on income tax

• iii) Due to imposition of lockdown by the government authorities to prevent the spread of COVID-19, the operations of the Group were temporarily disrupted causing significant impact on business and loss of revenue. However, since the second fortnight of April-20, business operations have resumed progressively, beginning with manufacturing facilities while adhering to directives issued by the government authorities from time to time. While there is no material impact on the carrying amounts of current assets of the Company, considering the uncertainties associated with COVID-19, the Group will continue to closely monitor any material changes to future economic conditions.

• iv) During the quarter, the Parent Company has allotted 53,750 shares of 10/- each to the option grantees upon exercise of options under the Company's Employee Stock Option Scheme 2018. As a result of such allotment, the paid-up equity share capital of the

• v) The above consolidated financial results have been reviewed by the Audit Committee and approved by the Board of Directors at their respective meetings held on 21 July 2020. The statutory auditors have expressed an unmodified opinion on these results.

• vi) The figures of the quarter ended 31 March 2020 are the balancing figures between the figures for the audited financial year 2019-20 and published year to date unaudited figures up to the third quarter of the financial year.

• vii) The figures for the corresponding previous period have been regrouped/reclassified wherever necessary, to make them comparable.

For Polycab India Limited (formerly known as 'Polycab Wires Limited')

Place: Mumbai Date: 21 July 2020

Inder T. Jaisinghani Chairman & Managing Director

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Limited review report on unaudited quarterly standalone financial results of Polycab India Limited (Formerly Known as “Polycab Wires Limited”) under Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

To Board of Directors of Polycab India Limited (Formerly known as “Polycab Wires Limited”)

1. We have reviewed the accompanying Statement of unaudited standalone financial results of Polycab India Limited (formerly known as “Polycab Wires Limited”) (‘the Company’) for the quarter ended 30 June 2020 (“the Statement”), being submitted by the Company pursuant to the requirements of Regulation 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (‘Listing Regulations’).

2. This Statement, which is the responsibility of the Company’s management and approved by the Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 “Interim Financial Reporting” (“Ind AS 34”), prescribed under Section 133 of the Companies Act, 2013, and other accounting principles generally accepted in India and in compliance with Regulation 33 of the Listing Regulations. Our responsibility is to issue a report on the Statement based on our review.

3. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410 “Review of Interim Financial Information Performed by the Independent Auditor of the Entity” issued by the Institute of Chartered Accountants of India. This standard requires that we plan and perform the review to obtain moderate assurance as to whether the Statement is free of material misstatement. A review is limited primarily to inquiries of company personnel and analytical procedures applied to financial data and thus provides less assurance than an audit. We have not performed an audit and accordingly, we do not express an audit opinion.

4. Attention is drawn to the fact that the figures for the 3 months ended 31 March 2020 as reported in these financial results are the balancing figures between audited figures in respect of the full previous financial year and the published year to date figures up to the third quarter of the previous financial year. The figures up to the end of the third quarter of previous financial year had only been reviewed and not subjected to audit.

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Limited review report on unaudited quarterly standalone financial results of Polycab India Limited (Formerly Known as “Polycab Wires Limited”) under Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ( Continued )

1. Based on our review conducted as above, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with applicable accounting standards and other recognised accounting practices and policies has not disclosed the information required to be disclosed in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 including the manner in which it is to be disclosed, or that it contains any material misstatement.

For B S R & Co. LLP Chartered Accountants Firm's Registration No: 101248W/W-100022

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Bhavesh Dhupelia

Mumbai 21 July 2020

Partner Membership No: 042070 UDIN: 20042070AAAADA7571

a

Polycab India Limited (Formerly known as 'Polycab Wires Limited')

Registered office: Unit 4, Plot Number 105, Halol Vadodara Road, Village Nurpura, Taluka Halol, Panchmahal, Gujarat

Corporate Office : Polycab House, 771, Mogul Lane, Mahim (West), Mumbai

Phone no. +91 22 67351400, CIN : L31300GJ1996PLC114183 Website: www.polycab.com, E-mail: shares@polycab.com

STANDALONE FINANCIAL RESULTS FOR THE QUARTER ENDED 30 JUNE 2020

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Quarter ended Year ended
Sr. 30 June 20 31 Mar 20 30 June 19 31 Mar 20
Particulars
No. Audited
Unaudited Unaudited Audited
(Refer note vi)
1) Income
(a) Revenue from operations 9,922.24 21,237.80 19,398.10 88,069.14
(b) Other income (refer note ii) 342.97 466.93 334.39 934.57
Total Income 10,265.21 21,704.73 19,732.49 89,003.71
2) Expenses
(a) Cost of materials consumed 5,129.06 13,626.68 13,162.40 58,959.98
(b) Purchases of traded goods 416.40 898.02 1,017.46 4,056.79
(c) Changes in inventories of finished goods, traded goods and work-in-
1,463.05 (474.04) (728.40) (2,368.72)
progress
(d) Project bought outs and other cost 280.80 759.50 771.44 3,174.46
(A) Total material cost (a to d) 7,289.31 14,810.16 14,222.90 63,822.51
(e) Employee benefits expense 794.54 886.43 908.90 3,617.25
(f) Finance cost 133.07 154.65 120.10 479.03
(g) Depreciation and amortisation expense 419.30 417.40 380.05 1,590.85
(h) Advertisement and sales promotion 31.70 185.02 385.57 1,086.42
(i) Freight and forwarding expense 261.37 488.72 427.24 1,860.40
(j) Other expenses 986.50 1,892.05 1,246.50 6,512.68
(B) Total expenses other than material cost (e to j) 2,626.48 4,024.27 3,468.36 15,146.63
Total expenses (A+B) 9,915.79 18,834.43 17,691.26 78,969.14
3) Profit before tax (1-2) 349.42 2,870.30 2,041.23 10,034.57
4) Income tax expenses
(a) Current tax 90.63 536.01 725.25 2,449.49
(b) Adjustment of tax relating to earlier periods (refer note ii) (861.07) (26.20) (1.49) (34.18)
(c) Deferred tax (credit)/charge (2.90) 169.22 (17.62) 9.72
Total tax expenses (773.34) 679.03 706.14 2,425.03
5) Profit for the period (3-4) 1,122.76 2,191.27 1,335.09 7,609.54
6) Other comprehensive income
Items that will not be reclassified to profit or loss (6.83) (34.00) (40.12) (51.31)
Income tax related to items that will not be reclassified to profit or loss 1.72 8.56 14.02 12.92
Items that will be reclassified to profit or loss 302.23 (169.03) - (169.03)
Income tax relating to items that will be reclassified to Profit or Loss (76.06) 42.54 - 42.54
Total other comprehensive income (net of tax) 221.06 (151.93) (26.10) (164.88)
7) Total comprehensive income (net of tax) (5+6) 1,343.82 2,039.34 1,308.99 7,444.66
8) 10 each) 1,489.33 1,488.79 1,486.46 1,488.79
9) Other equity 36,914.10
10) Earnings per share (not annualised for quarters)
(a) Basic earnings per share ( ) 7.54 14.73 9.06 51.28
(b) Diluted earnings per share ( ) 7.52 14.63 9.05 51.10
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Page 1 of 3

a

Polycab India Limited (Formerly known as 'Polycab Wires Limited')

Registered office: Unit 4, Plot Number 105, Halol Vadodara Road, Village Nurpura, Taluka Halol, Panchmahal, Gujarat Corporate Office : Polycab House, 771, Mogul Lane, Mahim (West), Mumbai

Phone no. +91 22 67351400, CIN : L31300GJ1996PLC114183 Website: www.polycab.com, E-mail: shares@polycab.com

STANDALONE SEGMENT INFORMATION FOR THE QUARTER ENDED 30 JUNE 2020

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Quarter ended Year ended
Sr. 30 June 20 31 Mar 20 30 June 19 31 Mar 20
Particulars
No. Audited
Unaudited Unaudited Audited
(Refer note vi)
1) Segment revenue
a) Wires and cables 8,252.12 18,605.42 16,380.88 75,898.39
b) FMEG 1,377.98 1,832.68 2,400.87 8,355.78
c) Other 432.94 1,284.38 963.11 4,689.78
Total 10,063.04 21,722.48 19,744.86 88,943.95
Less: Inter segment revenue (14.35) (108.94) (128.09) (389.58)
Total Income (excluding finance income) 10,048.69 21,613.54 19,616.77 88,554.37
2) Segment results
a) Wires and cables 255.33 2,728.95 1,867.06 9,221.96
b) FMEG (55.62) 1.13 87.74 168.28
c) Others 66.71 219.47 90.81 721.66
Total 266.42 2,949.55 2,045.61 10,111.90
Less: Inter segment result (0.45) (15.79) - (47.64)
Total 265.97 2,933.76 2,045.61 10,064.26
Un-allocated items:
a) Financial income 216.52 91.19 115.72 449.34
b) Finance costs (133.07) (154.65) (120.10) (479.03)
Profit before tax 349.42 2,870.30 2,041.23 10,034.57
3) Segment Assets
a) Wires & Cables 42,296.94 43,417.11 43,468.85 43,417.11
b) FMEG 4,409.23 5,379.76 5,341.49 5,379.76
c) Others 5,347.03 5,594.72 5,233.26 5,594.72
Total 52,053.20 54,391.59 54,043.60 54,391.59
Un-allocated assets 7,630.13 4,890.51 5,408.39 4,890.51
Total assets 59,683.33 59,282.10 59,451.99 59,282.10
4) Segment Liabilities
a) Wires & Cables 11,926.11 13,277.14 16,187.84 13,277.14
b) FMEG 1,156.72 1,587.47 1,209.75 1,587.47
c) Others 3,630.90 2,781.31 4,181.33 2,781.31
Total 16,713.73 17,645.92 21,578.92 17,645.92
Un-allocated liabilities and provisions 3,174.74 3,233.29 4,563.61 3,233.29
Total liabilities 19,888.47 20,879.21 26,142.53 20,879.21
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Polycab India Limited (Formerly known as 'Polycab Wires Limited')

Registered office: Unit 4, Plot Number 105, Halol Vadodara Road, Village Nurpura, Taluka Halol, Panchmahal, Gujarat Corporate Office : Polycab House, 771, Mogul Lane, Mahim (West), Mumbai 400 016, India Phone no. +91 22 67351400, CIN : L31300GJ1996PLC114183

Website: www.polycab.com, E-mail: shares@polycab.com

Notes:

• i) On 6 May 2020, the Company acquired the balance 50% equity shares in Ryker Base Private Limited for a consideration of 303.82 million making it a wholly-owned subsidiary.

• ii) During the current quarter, the Company has received a favourable order from Honourable Income-Tax Appellate Tribunal for AY 201213 to 2015-16 resulting into write back of income-tax provision of 839.52 million and recognition of interest on income tax refund of

• iii) Due to imposition of lockdown by the government authorities to prevent the spread of COVID-19, the operations of the Company were temporarily disrupted causing significant impact on business and loss of revenue. However, since the second fortnight of April-20, business operations have resumed progressively, beginning with manufacturing facilities while adhering to directives issued by the government authorities from time to time. While there is no material impact on the carrying amounts of current assets of the Company, considering the uncertainties associated with COVID-19, the Company will continue to closely monitor any material changes to future economic conditions.

• iv) During the quarter, the Company has allotted 53,750 shares of 10/- each to the option grantees upon exercise of options under the Company's Employee Stock Option Scheme 2018. As a result of such allotment, the paid-up equity share capital of the Company has

• v) The above standalone financial results have been reviewed by the Audit Committee and approved by the Board of Directors at their respective meetings held on 21 July 2020. The statutory auditors have expressed an unmodified opinion on these results.

• vi) The figures of the quarter ended 31 March 2020 are the balancing figures between the figures for the audited financial year 2019-20 and published year to date unaudited figures up to the third quarter of the financial year.

• vii) The figures for the corresponding previous period have been regrouped / reclassified, wherever necessary, to make them comparable.

For Polycab India Limited (Formerly known as 'Polycab Wires Limited')

Place: Mumbai Date: 21 July 2020

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Inder T. Jaisinghani Chairman & Managing Director

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