Polycab to showcase sustainability and innovation at Elasia Expo 2024

Polycab is set to participate in Elasia Expo 2024, showcasing its diverse product range aligned with sustainability goals.

This event will provide a platform for Polycab to present its innovative solutions and discuss its outlook on the Indian power and electrical sector. Additionally, Polycab will reflect on its performance over the last fiscal year and outline future milestones, emphasizing its commitment to growth and sustainable development in the industry.

Bhushan Sawhney, Executive President and Chief Business Officer of Polycab, evaluate the company’s performance from the previous fiscal year and upcoming benchmarks while providing insights on Polycab’s participation at Elasia Expo, to be held in Bengaluru (May 24-26, 2024) and tying its product line to sustainability objectives, and providing an outlook on the Indian power and electrical sector. He provides insight into the company’s environmental commitment and its strategic approach. 

Sawhney emphasises the value of venues such as Elasia in fostering connections with essential players in the electrical industry, emphasising Polycab’s commitment to safety and innovation while focusing on matching product offerings with environmental aims. The Electrical Consultants Association’s Elasia exhibition highlights innovative approaches in the electrical sector, meeting changing client demands by emphasising safety and sustainability with products including BLDC fans, Polycab Ignis fire survival cables, and green wire. Sawhney shares insights on Polycab’s participation, product range with sustainability goals, and outlook on the Indian power and electrical sector while assessing last fiscal year’s performance and future milestones. He sheds light on the company’s strategic approach to showcasing at the expo and its commitment to sustainability. 

 How do you view the potential of showcasing at the Elasia Expo? 

Elasia provides the platform to showcase our solutions to customers, partners, and influencers who are key to our business. Since the Electrical Consultants Association organises it, it ensures the right mix of audiences, such as MEP consultants, contractors, architects, and people relevant to the electrical industry. 

 How does your product range align with your sustainability goals, and are there any new products being unveiled? 

As a responsible brand, our products ensure sustainability and electrical safety. We will be showcasing our wide range of innovative cables and wires, from EHV, HV, and LV cables for industrial as well as residential and commercial applications. Products like green wire will be showcased, which is an environment-friendly, energy-efficient, highly reliable, and electrically safe wire. We will showcase Polycab Ignis Fire Survival Cables used in high-rise buildings and across different infrastructures to ensure electrical fire safety during fire emergencies. Another showcase is the energy-efficient BLDC fan, which is tech-enabled and stylish to the core.

 What features do your products offer, and how do they enhance their value to expand your customer base? 

Our new product line offers cutting-edge features focused on electrical safety, sustainability, and energy efficiency, catering to the evolving needs of our customers. With advanced technology and green solutions, we ensure maximum safety while minimising environmental impact. Our energy-efficient products reduce operational costs and align with global sustainability goals. By prioritising these aspects, we enhance our value proposition, attracting a broader customer base seeking reliable, safe, and eco-friendly solutions in the industry.

 What is your outlook on the Indian power and electrical sector?

The Indian wires and cables industry is estimated to grow between 1.5 and 2x real GDP shortly. If we look at the government’s targets for different infrastructure projects over the next decade, we are going to see an increase in highways by almost 33 percent; similarly, the government is also planning to expand railways and invest almost ₹7 trillion over the next decade. 

India is also betting big on renewable energy, targeting to reach 500 gw of energy generation through renewable sources by 2030. Real estate, too, is in its upcycle, supporting the demand for wires. Additionally, sectors like electric vehicles, data centres, metros, etc, will further generate demand for cables and wires. Moreover, complex applications, focusing on quality, implementation of GST, etc, will lead to increased market share gains for organised players. 

 What is your performance assessment in the last fiscal year, and what milestones will you achieve this fiscal year?

The past year has been extraordinary for us, marked by milestones, growth, and a commitment to excellence that defines our journey. The company surpassed the monumental milestone of ₹180 billion in revenues during FY24, marking a significant win for the entire Polycab family. This achievement underscores our unwavering dedication to innovation, quality, and customer satisfaction. In addition to our impressive revenue growth, we achieved the highest yearly profits in our company’s history, further solidifying Polycab’s position as the most profitable company in the consumer electrical industry.

 The wires & cables business had a stellar year with 27 percent year-on-year top-line growth. Robust domestic demand due to the increasing thrust by the government on infrastructure, improving private capital, and an uptick in real estate led to an impressive volume growth of 30 percent to 40 percent for the entire year. We believe Polycab has significantly gained market share during the year, with our share of the domestic organised cable and wire market increasing to about 25 percent to 26 percent from 22 percent to 24 percent estimated in the previous year. At an industry level, this should translate into a market share of between 18 percent and 19 percent for Polycab. 

Bhushan Sawhney, Executive President & Chief Business Officer, Polycab