Polycab India Limited — Investor Presentation 2021

Jan 23, 2021

POLYCAB INDIA 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

==> picture [109 x 79] intentionally omitted <==

Date: 23[rd] January 2021

To To Department of Corporate Services Listing Department BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers, Dalal Street C-1, G-Block, Bandra-Kurla Complex Mumbai – 400 001 Bandra (E), Mumbai – 400 051

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

Dear Sir / Madam

Sub: Corporate Presentation under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

In accordance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find enclosed herewith Corporate presentation on the unaudited financial results of the Company for the quarter and nine months ended 31[st] December 2020.

Kindly take the same on your record.

Thanking you

Yours Faithfully

For Polycab India Limited

==> picture [122 x 34] intentionally omitted <==

_____ Sai Subramaniam Narayana Company Secretary and Compliance Officer Membership No.: F5221 Address: Polycab House, 771, Mogul Lane Mahim (West), Mumbai - 400 016

==> picture [52 x 46] intentionally omitted <==

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

==> picture [166 x 109] intentionally omitted <==

Corporate Presentation

23 January 2021

1

06

Content

01 Company Overview 02 Leadership in Wires & Cables 03 Fast growing FMEG Business 04 Strengthening Brand Recognition 05 Strong Manufacturing & R&D capabilities Robust Financials

Polycab India Limited | Corporate Presentation

==> picture [363 x 540] intentionally omitted <==

==> picture [80 x 53] intentionally omitted <==

Company Overview

Polycab India Limited | Corporate Presentation

Polycab: A Snapshot

==> picture [80 x 53] intentionally omitted <==

#1[Manufacturer in India]

==> picture [61 x 56] intentionally omitted <==

Market leader in Wires and Cables[1]

12 - 13% Overall Market Share[2]

PAN India Network

4,000+ Dealers & Distributors 1,51,000+ Retail Outlets

==> picture [66 x 71] intentionally omitted <==

Fast Growing FMEG Brand

==> picture [55 x 53] intentionally omitted <==

5-year CAGR at ~47%

Manufacturing Footprint 25 Facilities, 7 locations Strong backward integration

Strong Management Bandwidth

Blend of Entrepreneurial and highly experienced professional management

==> picture [48 x 51] intentionally omitted <==

Proven Track Record

5 year CAGR Revenue 13% EBITDA[3] 21%, PAT[4] 37%

==> picture [51 x 51] intentionally omitted <==

Note: FMEG: Fast Moving Electrical Goods; (1) In India, In terms of segment revenue; (2) As of March 31, 2020; (3) EBITDA - Earnings before Interest, Tax, Depreciation & Amortization excludes other Income; (4) PAT – Profit after tax

Polycab India Limited | Corporate Presentation

4

Our Journey

==> picture [80 x 53] intentionally omitted <==

==> picture [882 x 352] intentionally omitted <==

----- Start of picture text -----

Set up manufacturing Investment from IFC Manufacturing of IPO: Listing on BSE and NSE on 16
Forayed into the
Promoters
facility for PVC of INR 4,018 mn ceiling fans at Roorkee, April 2019. 52x over subscribed
switches segment
established the
insulated power cables Uttarakhand
Commenced manufacturing Water
business;
house wires, telephone
JV with Trafigura for Heaters
manufacturing
cables, optical fibre
copper rod
from Halol plant cables, switch board Inaugurated first ever Polycab
manufacturing (Ryker)
cables and quad cables Experience Centre
at Daman
1998 2009 2013 2016 2019
1964 - 96
1996 2011 2017
2006 2014 2020
Company
Crossed INR 31,000 Diversification into fans JV with Techno Bought out balance
incorporated on
mn in revenue and LED Electromech 50% stake in Ryker
Jan 10, 1996 Crossed INR 10,000
lighting segment for manufacturing for copper rod
mn in revenue
of LED lighting manufacturing
Manufacturing facility
for MCBs at products from Trafigura
Nashik, Maharashtra
----- End of picture text -----

Polycab India Limited | Corporate Presentation

5

==> picture [834 x 432] intentionally omitted <==

----- Start of picture text -----

Our Segments: An Overview
% of Total Revenue
85%
Wires & Cables
9%
Fast Moving
FY 20 Total Revenue
88,300 Mn Electrical Goods
6%
Other (incl. EPC)
----- End of picture text -----

==> picture [62 x 53] intentionally omitted <==

Notes: Consolidated Revenue in INR Mn

Polycab India Limited | Corporate Presentation

6

Increase in Consumer Spending, Infrastructure Growth and Industrial Investments to Drive Electricals Industry

==> picture [80 x 53] intentionally omitted <==

Consumer Spend

Infrastructure Development

Industrial Growth

==> picture [241 x 124] intentionally omitted <==

----- Start of picture text -----

42%
31%
26% 28%
0.8 1.0 1.2 1.5
Year 1991 Year 2001 Year 2011 Year 2030P
Total Population (in bn)
----- End of picture text -----

• Metropolitan cities in India to increase from 46 in 2011 to 68 in 2030[1]

• Government announced expenditure of ~ INR 111 lakh crore in infrastructure sector over next 5 years, as a part of National Infrastructure Pipeline (NIP),

• Energy, railways, urban and infrastructure to comprise ~72% of the expenditure

• Total Energy capacity expected to be 583 GW by 2025 from current 356 GW

• Indian Electrical Equipment Industry plans to make India the “country of choice” for production of electrical equipment

• Indigenous manufacturing, self reliant India

• Cut in corporate tax rate to promote growth and investments

• Reforms and initiatives under Aatmanirbhar Bharat Abhiyaan to support Indian economy:

• Working-age population to grow ~1.2x times in the period 2015-2030

• Increasing propensity to Spend, demand for improved products and preference of Indian brands

• Per Capita Income CAGR of c.10% over last 5 years

• Developed Rural, Urbanization and Nuclearization of families

• Housing for All by 2022 targeting 31mn households in the urban and rural areas – PMAY

• 100% electrification of existing railway network, mass rapid transit system and availability of public charging infrastructure

• 100% population coverage for telecom and high-quality broadband services and laying optical fiber cables across the nation under Bharat Net project

• MSME funding, MGNREGS allocation, Agriculture reforms to boost income

• Liquidity Injection to revive DISCOMs and overall economy. Power Tariff reforms

• No foreign participation in < Rs 200cr Government tenders, Defence import ban.

• Affordable housing push through Credit Linked Subsidy Scheme. Industrial infrastructure upgrade scheme

Sources: 1. National Infrastructure Pipeline Task Force Report 2020, 2. Pradhan Mantri Awas Yojana (Urban) Mission, 3. Announcements by Union Finance & Corporate Affairs Minister Smt. Nirmala Sitharaman Polycab India Limited | Corporate Presentation

7

Key Management Initiatives to create value

==> picture [80 x 53] intentionally omitted <==

==> picture [647 x 449] intentionally omitted <==

----- Start of picture text -----

Improvement in
Production Process
Expansion of
Enhance Brand Awareness
Manufacturing Capacity
and Customer Loyalty
Improvement in
Expansion of
Distribution Network Supply Chain
Induction of Invest in CRM
Qualified Professionals
Programme
Focus on
Growth and Profitability
| Corporate Presentation
----- End of picture text -----

Polycab India Limited | Corporate Presentation

8

==> picture [80 x 53] intentionally omitted <==

Leadership in Wires and Cables

Polycab India Limited | Corporate Presentation

Market leader in Wires & Cables with a diverse portfolio

==> picture [80 x 53] intentionally omitted <==

Polycab is the largest Wires and Cables manufacturer in India, with a strong suite of products…

Optical Fiber Cable

Building Wires

Power Cable

==> picture [109 x 15] intentionally omitted <==

==> picture [108 x 47] intentionally omitted <==

==> picture [108 x 46] intentionally omitted <==

FR (Flame Retardant)

==> picture [109 x 19] intentionally omitted <==

FRLS (Flame Retardant Low Smoke)

Instrumentation Cables

Control Cables

==> picture [109 x 22] intentionally omitted <==

==> picture [109 x 26] intentionally omitted <==

==> picture [108 x 25] intentionally omitted <==

ZHFR (Zero Halogen Flame Retardant )

Other Cables

Flexible Wires

Solar Cable

Wide Customer Base across Industries…

==> picture [36 x 61] intentionally omitted <==

==> picture [51 x 59] intentionally omitted <==

==> picture [38 x 45] intentionally omitted <==

Power

Construction

Oil and Gas

==> picture [46 x 45] intentionally omitted <==

==> picture [46 x 45] intentionally omitted <==

==> picture [55 x 45] intentionally omitted <==

IT Park

Infrastructure

Metal

==> picture [52 x 52] intentionally omitted <==

==> picture [50 x 48] intentionally omitted <==

==> picture [56 x 37] intentionally omitted <==

Non-Metal

Agriculture

Cement

==> picture [113 x 15] intentionally omitted <==

==> picture [114 x 22] intentionally omitted <==

==> picture [89 x 23] intentionally omitted <==

==> picture [89 x 19] intentionally omitted <==

==> picture [108 x 22] intentionally omitted <==

==> picture [60 x 54] intentionally omitted <==

Real Estate

==> picture [48 x 48] intentionally omitted <==

Telecom

==> picture [37 x 55] intentionally omitted <==

Railway

Polycab India Limited | Corporate Presentation

10

Polycab’s dominant position in Wires and Cables industry to capture attractive market size

==> picture [80 x 53] intentionally omitted <==

Wires and Cables industry In FY20[1 ] :

Polycab 5-year C&W Revenue CAGR: ~11%

Market Share in FY20[(1)]

FY20 Wires and Cables Revenue[(2)]

==> picture [426 x 284] intentionally omitted <==

----- Start of picture text -----

12-13%
18-20%
Organized
Total
Marquee Customers Made to Stock Made to Order Innovative Products
----- End of picture text -----

==> picture [185 x 123] intentionally omitted <==

----- Start of picture text -----

~ 500 – 550bn
Market Size
40–45% of the electrical
equipment industry
----- End of picture text -----

==> picture [91 x 38] intentionally omitted <==

----- Start of picture text -----

The Polycab
Advantage
----- End of picture text -----

==> picture [284 x 292] intentionally omitted <==

----- Start of picture text -----

1.6x 2.4x
75
41
30
Polycab Peer 1 Peer 2
Availability Distribution Supply Chain
----- End of picture text -----

Supply Chain

Note: (1) Industry estimates, Polycab estimates; (2) Revenue in INR billion; No adjustment for Inter segment revenue

Polycab India Limited | Corporate Presentation

11

==> picture [80 x 53] intentionally omitted <==

Fast growing FMEG Business

Polycab India Limited | Corporate Presentation

FMEG : Expanding presence in ‘Electricals’ ecosystem

==> picture [80 x 53] intentionally omitted <==

FMEG continues to become a sizeable part of the business - growing at 47% CAGR in past 5 years

Forayed in FY14 ...

==> picture [23 x 95] intentionally omitted <==

• Diversified portfolio with focus on the upcoming industry trends

• Inhouse Manufacturing

• Pan India Distribution

• Present in Fans, Lighting Luminaires, Switches, Switchgears, Water heaters, Pipes, Conduits, Agro pumps, Solar etc.

==> picture [424 x 145] intentionally omitted <==

----- Start of picture text -----

9.4%
8.1%
7.0%
5.5%
3.8%
FY16 FY17 FY18 FY19 FY20
8,536
6,433
4,853
3,356
2,167
----- End of picture text -----

… leveraging synergies

• Common raw materials - higher negotiating power

• Manufacturing know how

• Strong brand goodwill in electricals space

• Economies of scale - Cost-savings in transportation & distribution

• Cross-sell opportunities to a larger customer base

FMEG Revenue (INR Mn) FMEG Revenue Contribution %

Polycab India Limited | Corporate Presentation

13

High Growth Opportunity in the Indian FMEG Industry

==> picture [80 x 53] intentionally omitted <==

Macro drivers include evolving consumer aspirations, increasing awareness, rising income, rural electrification, urbanisation, digital connectivity

• Fans Switches Switchgear Lighting 223Bn

• 93Bn 46Bn 210Bn

• • • • • Preference for energy Customer preferences LV to outgrow MV / HV Considerable shift towards efficient fans towards modular switches segment LED segment

• • • • • Value added products Demand for safe and secure Modular devices and safe Government efforts and switches products gaining preference consumer awareness towards

• • Increasing demand for energy efficient technology • •

• premium and smart fans Greater awareness towards Rising demand for various •

• with aesthetic appeal building automation and electrical appliances Emerging technology trends management like Smart LED’s

Notes: Industry estimates, Polycab estimates; Figures in INR

Polycab India Limited | Corporate Presentation

14

Polycab Experience Centres: Expanding in ‘Electricals’ ecosystem

==> picture [80 x 53] intentionally omitted <==

• Strategic showcase enabling consumers and trade constituents to experience and choose from a wide range of quality products

• At iconic electric markets hub which is also an important feeder market to western and southern India

• Deepens connect with direct customers in the FMEG market as well as retailers from upcountry

• Aiming to expand such experimental stores across key cities

• Currently in Mumbai, Pune, Trivandrum and Visakhapatnam

==> picture [234 x 176] intentionally omitted <==

==> picture [234 x 175] intentionally omitted <==

==> picture [234 x 176] intentionally omitted <==

==> picture [233 x 175] intentionally omitted <==

Polycab India Limited | Corporate Presentation

15

==> picture [80 x 53] intentionally omitted <==

Strengthening Brand Recognition

Polycab India Limited | Corporate Presentation

Strong Brand Recognition in the Electricals Industry..

From B2B to B2C Our Brand Journey ‘Connection Zindagi Ka’ was a hit with customers- the impactful narrative with their minds and hearts

==> picture [80 x 53] intentionally omitted <==

==> picture [32 x 31] intentionally omitted <==

Corporate Commercial, Elevated our brand amongst Top 3 in house wires

==> picture [159 x 117] intentionally omitted <==

Associate On Air sponsors T20 Premier League

2016- 2017 2018

2014

==> picture [42 x 14] intentionally omitted <==

----- Start of picture text -----

2013
----- End of picture text -----

==> picture [244 x 188] intentionally omitted <==

----- Start of picture text -----

R Madhavan, Actor
----- End of picture text -----

==> picture [271 x 160] intentionally omitted <==

----- Start of picture text -----

Polycab became a
household name with
the target audience
----- End of picture text -----

Ayushmann Khurana (Actor) 2019 2020

==> picture [279 x 154] intentionally omitted <==

----- Start of picture text -----

Paresh Rawal (Actor)
----- End of picture text -----

Polycab India Limited | Corporate Presentation

17

… and strengthening it further using multi pronged approach

==> picture [80 x 53] intentionally omitted <==

==> picture [227 x 129] intentionally omitted <==

==> picture [225 x 134] intentionally omitted <==

==> picture [311 x 234] intentionally omitted <==

----- Start of picture text -----

Advertising and Sales Promotion
Expenditure (INR mn) 1.2%
As % of Sales 1,087
0.4%
163
FY14 FY20
----- End of picture text -----

==> picture [323 x 139] intentionally omitted <==

----- Start of picture text -----

Multi pronged approach Actively engage Dealers
to increase brand and Distributors
awareness
----- End of picture text -----

==> picture [363 x 142] intentionally omitted <==

----- Start of picture text -----

Loyalty Points via Bandhan Increased Advertising on
Star App Social Media and Sales
Promotion
----- End of picture text -----

Polycab India Limited | Corporate Presentation

18

Pan India distribution network to support diverse customer base and product categories

==> picture [80 x 53] intentionally omitted <==

==> picture [868 x 317] intentionally omitted <==

----- Start of picture text -----

2,000+ dealers Sales & marketing
Our distribution 4,000+ authorized and distributors 151,000+ through corporate
pan-India office , 3 regional
dealers & retail outlets
reach offices & 20 local
exclusively for
distributers
offices across
FMEG
India
By Product By Geography
19% 29% 52% 23% 30% 26% 21%
Common Wires and Cables FMEG West South North East
----- End of picture text -----

Notes: The above charts represents split of authorised dealers and distributors

Polycab India Limited | Corporate Presentation

19

Catering to marquee customers

Total Revenue Contribution in FY20

==> picture [333 x 159] intentionally omitted <==

----- Start of picture text -----

Top Customer 9%
Top 5 Customers 19%
Top 10 Customers 27%
Rest of the
Customers
----- End of picture text -----

==> picture [25 x 11] intentionally omitted <==

----- Start of picture text -----

73%
----- End of picture text -----

Revenue from outside India (% of total revenue)

==> picture [346 x 126] intentionally omitted <==

----- Start of picture text -----

12.3%
5.1%
3.1%
FY18 FY19 FY20
----- End of picture text -----

==> picture [80 x 53] intentionally omitted <==

==> picture [456 x 410] intentionally omitted <==

----- Start of picture text -----

Oil & Gas
Metal
Export
Infrastructure
Paints
Chemicals Auto
Telecom
Cement
Power Government
----- End of picture text -----

Note: Companies served in past and present, directly or indirectly through authorised dealer/ distributors

Polycab India Limited | Corporate Presentation

20

Strategic initiatives to drive sustainable growth over long term

==> picture [80 x 53] intentionally omitted <==

==> picture [527 x 330] intentionally omitted <==

----- Start of picture text -----

Strategic initiative aimed at increasing
market share in FMEG and retail wires
segments; has increased retailers &
distributors in the c.125 locations
Sales Force
Bandhan Project Josh Automation
relationship management
program covering 1,70,000+
electricians & 51,000+
----- End of picture text -----

Provides visibility on secondary sales and automates replenishment of inventories with distributors

==> picture [117 x 118] intentionally omitted <==

----- Start of picture text -----

Distributor
Management
System
----- End of picture text -----

Upgrading CRM software which will completely digitize pre-order sales activities, increase productivity, better customer management, improved response time, information sharing & retrieval, and enhance cross selling

Pan India customer relationship management program covering 1,70,000+ electricians & 51,000+ retailers

Polycab India Limited | Corporate Presentation

21

==> picture [80 x 53] intentionally omitted <==

Strong Manufacturing & R&D capabilities

Polycab India Limited | Corporate Presentation

==> picture [80 x 53] intentionally omitted <==

Inhouse Manufacturing with a high degree of backward integration and Automation…

==> picture [222 x 160] intentionally omitted <==

==> picture [222 x 154] intentionally omitted <==

Multi-location manufacturing (Products[1; ] Annual capacity)

==> picture [83 x 64] intentionally omitted <==

==> picture [104 x 47] intentionally omitted <==

----- Start of picture text -----

Roorkee
Fans 3.1mn
----- End of picture text -----

==> picture [164 x 108] intentionally omitted <==

Halol

Fan Manufacturing Unit

Channi Waghodia Lighting & Luminaires 18.2mn Copper Rods 0.22mn tonnes

==> picture [221 x 173] intentionally omitted <==

==> picture [224 x 170] intentionally omitted <==

==> picture [90 x 19] intentionally omitted <==

----- Start of picture text -----

Halol & Daman
----- End of picture text -----

==> picture [17 x 17] intentionally omitted <==

Wires & Cables 3.7mn kms

Nashik Switches & Switchgears 7.2mn

==> picture [68 x 72] intentionally omitted <==

Braiding Machines

Cable CCV Line

1. Figures are absolute numbers where no units are indicated as of 31[st] March, 2020;

Polycab India Limited | Corporate Presentation

23

…Strong R&D and innovation capabilities with quality assurance

==> picture [80 x 53] intentionally omitted <==

Investments in in-house R&D capabilities with strong focus on backward integration…

• NABL ISO 17025 certified R&D centre to support own manufacturing

• Over 100 engineers and technicians

==> picture [117 x 107] intentionally omitted <==

Green Wire

Our ecological initiative

Launched Green Wire in 2017 an energy efficient and environment-friendly product that contributes to India’s ‘Go Green’ mission

• Centre of excellence for R&D on polymers

• Bought out Ryker further strengthening backward integration of operations

• and improve quality of its key input i.e. Copper

• Ryker Plant copper analysis center for both incoming and out -going raw materials

• Existing facilities for key raw materials with continuously improving R&D capabilities to capitalize on industry trends

• Environmentally friendly power cables, rubber (elastomeric) cables and electron-beam irradiated cables

Supported by quality & reliability initiatives…

==> picture [383 x 198] intentionally omitted <==

Polycab India Limited | Corporate Presentation

24

==> picture [80 x 53] intentionally omitted <==

Robust Financials

Polycab India Limited | Corporate Presentation

Proven track record of financial performance

==> picture [80 x 53] intentionally omitted <==

==> picture [893 x 233] intentionally omitted <==

----- Start of picture text -----

Revenue (INR mn) EBITDA (INR mn) EBITDA Margin % PAT (INR mn) PAT Margin %
11.9% 12.8% 8.7%
10.9%
6.3%
9.3% 9.4% 5.3%
88,300 4.3%
3.6%
79,856
11,276
67,831
7,656
9,504
55,365
52,075
7,418
5,003
4,860 5,177 3,586
2,406
1,880
FY16 FY17 FY18 FY19 FY20 FY16 FY17 FY18 FY19 FY20 FY16 FY17 FY18 FY19 FY20
----- End of picture text -----

Delivering steady growth + profitability

Strong manufacturing capability

Expansion of Distribution Network

Focus on Profitable Growth

Notes: (1) Numbers on consolidated basis (2) Financials for FY16-FY20 have been prepared using IND AS (3) Revenue: Revenue from operations (4) EBITDA excludes Other Income (5) CAGR - five years

Polycab India Limited | Corporate Presentation

26

Proven track record of financial performance

==> picture [80 x 53] intentionally omitted <==

==> picture [275 x 233] intentionally omitted <==

----- Start of picture text -----

ROCE/ROE (%)
ROCE ROE ROCE Post Tax
27.9%
26.4%
21.0%
20.0%
18.5%
15.0% 15.2% 15.2%
19.9%
17.5%
10.5% 12.0%
13.3%
10.4%
9.9%
FY16 FY17 FY18 FY19 FY20
----- End of picture text -----

Debt/Equity ratio

==> picture [256 x 158] intentionally omitted <==

----- Start of picture text -----

0.44x 0.43x
0.34x
0.10x
0.04x
FY16 FY17 FY18 FY19 FY20
----- End of picture text -----

==> picture [275 x 233] intentionally omitted <==

----- Start of picture text -----

Capital Expenditure (INR mn)
2,789 2,814 2,8932,891
2,464
1,832
FY16 FY17 FY18 FY19 FY20
----- End of picture text -----

Net Cash Position (INR mn)

==> picture [286 x 61] intentionally omitted <==

----- Start of picture text -----

442 1,642
-7,091 -7,906 -7,897
FY16 FY17 FY18 FY19 FY20
----- End of picture text -----

Improving returns and surplus cash to fuel future growth

==> picture [478 x 54] intentionally omitted <==

----- Start of picture text -----

Growth Funded by Internal Invested in technology and
Accruals built capacities for future
----- End of picture text -----

Notes: (1)Financials for FY16-FY20 have been prepared using IND AS (2) ROCE (Return on Capital Employed) is (Profit before tax plus finance cost) divided by closing value of (non-current borrowings plus current borrowings plus current maturities of non-current borrowings plus total equity including non-controlling interest), ROCE post tax uses effective tax rate (3) ROE (Return on Equity) is Profit for the year divided by closing value of equity including non-controlling interests (4) Debt / Equity: Total debt / equity including non-controlling interests (5) Net Cash Position: Cash + Bank balances + Investments - Debt

Polycab India Limited | Corporate Presentation

27

Consolidated Profit and Loss Statement

==> picture [80 x 53] intentionally omitted <==

Particulars (INR mn)	FY 2020 % FY 2019 % FY 2018 %	FY 2020 % FY 2019 % FY 2018 %	FY 2020 % FY 2019 % FY 2018 %	FY 2020 % FY 2019 % FY 2018 %	FY 2020 % FY 2019 % FY 2018 %	FY 2020 % FY 2019 % FY 2018 %
Revenue from Operation	88,300	100.0%	79,856	100.0%	67,831	~~28~~ 100.0%
Cost of Goods sold	63,686	72.1%	59,660	74.7%	52,053	76.7%
Contribution (A)	24,614	27.9%	20,196	25.3%	15,778	23.3%
Employee cost	3,657	4.1%	3,002	3.8%	2,593	3.8%
Other Operating Expenses	9,606	10.9%	7,666	9.6%	5,768	8.5%
Total Operating Expenses (B)	13,263	15.0%	10,668	13.4%	8,361	12.3%
Share of profit/(loss) of JVs (Net of tax) (C)	-74	-0.1%	-23	0.0%	1	0.0%
EBITDA (A) - (B) + (C)	11,276	12.8%	9,505	11.9%	7,418	10.9%
Other Income	928	1.1%	638	0.8%	516	0.8%
Depreciation	1,609	1.8%	1,414	1.8%	1,330	2.0%
Finance Cost	495	0.6%	1,167	1.5%	937	1.4%
PBT	10,100	11.4%	7,561	9.5%	5,667	8.4%
Income Tax	2,444	2.8%	2,558	3.2%	2,082	3.1%
PAT	7,656	8.7%	5,003	6.3%	3,585	5.3%

Polycab India Limited | Corporate Presentation

28

Consolidated Balance Sheet

Particulars (INR mn)	FY 2020 FY 2019 FY 2018	FY 2020 FY 2019 FY 2018	FY 2020 FY 2019 FY 2018
Assets
Non-Current Assets
Fixed Assets	16,632	14,686	13,331
Other Non-current Assets	2,485	2,355	1,891
Total Non-current Assets	19,117	17,041	15,222
Current Assets
Inventories	19,250	19,958	13,657
Investments	400	0	0
Trade Receivables	14,336	13,343	12,908
Cash and Bank Balances	2813	3166	106
Others - Current Assets	3,700	2,774	2,588
Total Current Assets	40,499	39,242	29,259
Total Assets	59,616	56,283	44,481

==> picture [80 x 53] intentionally omitted <==

Particulars (INR mn)	FY 2020 FY 2019 FY 2018	FY 2020 FY 2019 FY 2018	FY 2020 FY 2019 FY 2018
Equity & Liabilities			29
Shareholder's Funds
Share Capital	1,489	1,412	1,412
Reserves and Surplus	36,875	27,057	22,064
Total Shareholder’s Funds	38,364	28,470	23,476
Minority Interest	150	84	40
Non-current Liabilities
Borrowings	107	889	1,589
Others - Non-current Liabilities	904	650	831
Total Non-current Liabilities	1,011	1,540	2,420
Current Liabilities
Short-term Borrowings	1,115	1,031	5,687
Trade Payables	13,537	15,202	9,221
Others - Current Liabilities	5,440	9,957	3,636
Total Current Liabilities	20,091	26,189	18,544
Total Equity and Liabilities	59,616	56,283	44,481

Polycab India Limited | Corporate Presentation

29

Consolidated Annual Cash Flow Statement

==> picture [80 x 53] intentionally omitted <==

Particulars (INR mn)	FY 2020 FY 2019 FY 2018	FY 2020 FY 2019 FY 2018	FY 2020 FY 2019 FY 2018
Net Cash Flow from Operating Activities	2,446	12,300	3,624
Net cash flow from/(used in) investing activities	-2,622	-4,077	-1,878
Net cash flow from/(used in) financing activities	107	-6,514	-1,898
Net Increase / (Decrease in cash and cash equivalents)	-69	1,708	-152

Polycab India Limited | Corporate Presentation

30

Q3 FY21 Key Highlights

==> picture [80 x 53] intentionally omitted <==

==> picture [43 x 43] intentionally omitted <==

==> picture [43 x 43] intentionally omitted <==

Operating (EBITDA)

Top-line (Revenue)

Q3FY21: 27,988 mn

27,988 mn Q3FY21: 3,763 mn 12% Y-o-Y 11% Y-o-Y 32% Q-o-Q 21% Q-o-Q

12% Y-o-Y

9MFY21: 58,891 mn 9MFY21: 7,448 mn -12% Y-o-Y -11% Y-o-Y

==> picture [43 x 43] intentionally omitted <==

Profitability (PAT)

Q3FY21: 2,636 mn 19% Y-o-Y 19% Q-o-Q

9MFY21: 6,027 mn 9% Y-o-Y

==> picture [44 x 43] intentionally omitted <==

Net Cash Position

Q3FY21: 13,335 mn 108% Y-o-Y 112% Q-o-Q

==> picture [334 x 188] intentionally omitted <==

==> picture [41 x 40] intentionally omitted <==

==> picture [264 x 183] intentionally omitted <==

Notes: (1) Numbers on consolidated basis (2) Revenue: Revenue from operations (3) EBITDA excludes other Income (4) PAT: Profit After Tax on reported basis and includes exceptional items as explained on slide 13 (5) Net Cash Position as at period end

Polycab India Limited | Corporate Presentation

31

Shareholding Pattern

Promoters Others 15.1% Foreign Portfolio Investors 7.0% International Finance Corporation 5.6% Domestic Mutual Funds 4.0%

==> picture [39 x 11] intentionally omitted <==

----- Start of picture text -----

68.3%
----- End of picture text -----

==> picture [80 x 53] intentionally omitted <==

Notes: As on 31st December 2020.

==> picture [331 x 179] intentionally omitted <==

==> picture [210 x 179] intentionally omitted <==

==> picture [314 x 179] intentionally omitted <==

----- Start of picture text -----

Notes: As on September 30 [th] 2019
----- End of picture text -----

Polycab India Limited | Corporate Presentation

32

Leadership Team - Board of Directors

==> picture [97 x 113] intentionally omitted <==

==> picture [97 x 113] intentionally omitted <==

Inder T Jaisinghani

Ajay T Jaisinghani Whole-Time Director

Chairman and Managing Director

==> picture [97 x 112] intentionally omitted <==

Ramesh T Jaisinghani Whole-Time Director

==> picture [96 x 112] intentionally omitted <==

SL Bajaj

Whole-Time Director

==> picture [80 x 53] intentionally omitted <==

Qualified Chartered Accountant & has previously served major leadership role in Vedanta Ltd, Hindustan Zinc Ltd.

==> picture [91 x 113] intentionally omitted <==

RS Sharma

Independent Director

Holds a degree from ICWA

Previously served as Chairman and MD at ONGC Limited

==> picture [96 x 119] intentionally omitted <==

TP Ostwal

Independent Director

Practicing Chartered Accountant and is a senior partner with T.P Ostwal and Associates LLP

==> picture [96 x 119] intentionally omitted <==

Pradeep Poddar

Independent Director

IIM-Ahemdabad Alumni Currently on the Boards of Monsanto India Limited, Welspun India Limited, and Uflex Limited.

==> picture [96 x 119] intentionally omitted <==

Hiroo Mirchandani Independent Director

Business career of 30+ years. A Chevening Gurukul Scholar from the London School of Economics. Held leadership roles at Dabur, World Gold Council & BPL Telecom

Polycab India Limited | Corporate Presentation

33

Leadership Team - Key Management

==> picture [80 x 53] intentionally omitted <==

• Blend of Entrepreneurial and Professional Management

• Professionals with Prior Experience in Vedanta, Tata Group, Unilever, Havells, Bajaj, SRBC & Co, Crompton, etc.

• Vision to Execute Strategies in a Dynamic Environment

• Extensive Relationships and Deep Business Understanding

==> picture [845 x 325] intentionally omitted <==

----- Start of picture text -----

Bharat A Jaisinghani Nikhil R Jaisinghani Anil Hariani Manoj Verma Anil Shipley Gandharv Tongia
Director – FMEGBusiness (Non- Director – LDC Business Director – Commodities Executive President & Executive President and Chief Supply Chief Financial Officer
board member) (Non-board member) (Non-board member) Chief Operating Officer (CE) Chain Officer
Sanjeev Chhabra Anurag Agarwal Shashi Amin Suresh Kumar Sandeep Bhargava Diwaker Bharadwaj
Chief Treasury Officer Executive President Executive President & CBO CHRO & Executive President Chief Procurement Officer President (Packaging)
(Strategy and HR)
Vijay Narayanan Vivek Khanna Kunal I Jaisinghani Sai Subramaniam Narayana
Ananthanarayanan Executive President Head – Agri Products Company Secretary and
President Compliance Officer
(Strategic Marketing)
----- End of picture text -----

Note: Designations as on 31 December 2020

Polycab India Limited | Corporate Presentation

34

Our Social Responsibility – A Philosophy of Empathetic Care

Community

Infrastructure

Education

Health

==> picture [189 x 145] intentionally omitted <==

==> picture [190 x 145] intentionally omitted <==

==> picture [189 x 145] intentionally omitted <==

==> picture [190 x 145] intentionally omitted <==

Promoting efficient farming through sessions on soil testing & model farms

Construction of toilets and providing clean drinking water in Gadhmahuda, Chachariya & Govindpuri village

Leadership Enrichment for Adolescence through Assessment & Development (LEAAD) programme organised, students exposed to leadership building qualities

Mobile Medical Unit offering services like OPD, medicines, health talks, camps & counselling in interiors. On an average 90 to 100 patients/day take advantages of these services

Women oriented skill training & creation of self help groups

Improvements in school infrastructure in Chachariya & Baska villages

Deeping of water reservoirs under Gujarat Government initiated “Sujalam Sufalam” programme in villages of Asoj, Bodidra & Waghodia were deepened

Study Science, Technology, Engineering & Mathematics (STEM) Laboratory set up for students to learn practical aspects of education

Jointly conducted breast tumour detection camp with Shree Halol Stree Samaj

Health camps in Mota Sandhiya, and Jalariya villages

==> picture [80 x 53] intentionally omitted <==

Polycab India Limited | Corporate Presentation

35

Enhancing shareholder value

==> picture [68 x 69] intentionally omitted <==

==> picture [217 x 55] intentionally omitted <==

----- Start of picture text -----

Market Cap
INR 154.5 Bn (USD 2.1 Bn)
(as of 31 December 2020)
----- End of picture text -----

==> picture [80 x 53] intentionally omitted <==

==> picture [48 x 151] intentionally omitted <==

----- Start of picture text -----

58%
22%
19%
18%
18%
----- End of picture text -----

POLYCAB BSE SENSEX NIFTY NIFTY 500 MSCI India

Market Cap in USD calculated using USD INR spot rate of 73.2

Polycab India Limited | Corporate Presentation

36

Safe Harbour

==> picture [80 x 53] intentionally omitted <==

This Release / Communication, except for the historical information, may contain statements, including the words or phrases such as ‘expects, anticipates, intends, will, would, undertakes, aims, estimates, contemplates, seeks to, objective, goal, projects, should’ and similar expressions or variations of these expressions or negatives of these terms indicating future performance or results, financial or otherwise, which are forward looking statements. These forward looking statements are based on certain expectations, assumptions, anticipated developments and other factors which are not limited to, risk and uncertainties regarding fluctuations in earnings, market growth, intense competition and the pricing environment in the market, consumption level, ability to maintain and manage key customer relationship and supply chain sources and those factors which may affect our ability to implement business strategies successfully, namely changes in regulatory environments, political instability, change in international copper, aluminum, oil prices and input costs and new or changed priorities of the trade. The Company, therefore, cannot guarantee that the forward-looking statements made herein shall be realized. The Company, based on changes as stated above, may alter, amend, modify or make necessary corrective changes in any manner to any such forward looking statement contained herein or make written or oral forward-looking statements as may be required from time to time on the basis of subsequent developments and events. The Company does not undertake any obligation to update forward looking statements that may be made from time to time by or on behalf of the Company to reflect the events or circumstances after the date hereof.

Polycab India Limited | Corporate Presentation

37

==> picture [80 x 53] intentionally omitted <==

==> picture [324 x 196] intentionally omitted <==

Thank you

Polycab India Limited CIN: L31300GJ1996PLC114183

Contact us

For investor relations: investor.relations@polycab.com For queries on shares & investor grievance: shares@polycab.com Website: www.polycab.com

Polycab India Limited | Corporate Presentation

38