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Polycab India rebrands to connect to a brighter future

October 7, 2023 11:09 am

Polycab India rebrands to connect to a brighter future
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Innovation, sustainability, and government support propel the growth of this industry, leading to a brighter electrical future.

Recently, Polycab India has unveiled its renewed brand identity and philosophy that reflects its future business roadmap. The rebranding is not just a shift in Polycab’s visual identity or brand architecture but a guiding philosophy that underscores its commitment to innovation, technology, safety and sustainability, leading to its brand purpose of ‘connecting all to a brighter future.’

Polycab has always believed that evolution is the key to staying relevant; hence, it continues to work towards offering futuristic solutions to its customers. “We have grown by focusing on innovation, sustainability, and customer-centricity, and now, this new brand identity reflects our core pillars,” says Bhushan Sawhney, Executive President and Chief Business Officer, Polycab India, while talking about the unveiling of Polycab’s visionary rebranding.

“Our refreshed brand tagline, Ideas. Connected builds on a future where innovative solutions, based on thoughtful ideas simplify lives and connect to a brighter future. We are dedicated to fostering a brighter future for all, where every aspect of our lives is seamlessly connected and our homes truly understand us. With unwavering determination, we look forward to redefining our brand and how we live,” added Sawhney.

Commenting on the brand refresh, Nilesh Malani, Executive President and Chief Marketing Officer of Polycab India, highlights that the company has revamped its brand identity to reflect its promise to cater to consumers directly and establish itself as a solid player in the FMEG sector.

“By evolving from the age-old tagline ‘Connection Zindagi Ka’ to ‘Ideas. Connected.’ Polycab is embracing a paradigm shift that not only amalgamates people and sustainable living solutions but also paves the way for a new era of growth and relevance,” says Malani.

For Polycab, maintaining a strong relationship with stakeholders has been one of the key pillars of growth. While consistently recognising this, the company has invested in training key stakeholders through numerous programs at its Polycab Experts Academy. Polycab’s 4,300+ authorised dealers and distributors and its over 2.05 lakh retail outlet partners would remain a high priority to chart a mutually rewarding growth path in the coming years.

As India moves ahead to achieve its ambitious target of a $5 trillion economy by 2025 and meet the aspirations of the citizens, creating new and upgrading the existing infrastructure will be the key to raising India’s competitiveness. Infrastructure development has been the crucial agenda of the government. Over the past five years, the government has more than doubled its capex support in Central Budgets, increasing infrastructure capex as a percentage of GDP from ~1.4 percent in FY18 to ~3.3 percent in FY23.

Through these government endeavours, sectors like railways, roadways, highways, defence, and housing have been the largest beneficiaries given that these sectors are the core demand drivers for the W&C industry, the stronger focus and execution are expected to accelerate industry growth, where Polycab will also benefit.

Additionally, government initiatives like the National Infrastructure Pipeline (NIP), Jawaharlal Nehru National Urban Renewal Mission (JNNURM), and Pradhan Mantri Awas Yojana (PMAY) will further drive demand for the W&C industry.

Aided by government’s focused support, the manufacturing industry is experiencing robust growth due to growing capacity utilisation, the performance-linked incentive (PLI) scheme, and the ‘Make in India’ initiative, generating more business opportunities for W&C players.

As India continues to innovate and evolve, Polycab is at an inflexion point, eyeing a new dawn, as the company is wiring up the present and lighting the path for a brighter electrical future. With a more substantial commitment to innovation, sustainability, and its partnerships, Polycab is poised to lead the way with smarter “Ideas” in the “Connected” world, shaping an electrifying future for India.

Founded in 1968, Polycab India is at an inception point with a growing market share across its multiple businesses. The five and half decade-young company is an established leader in India’s Wires and Cables (W&C) sector, with 22-24 percent of the organised market. With nearly 95 percent of products manufactured in-house, Polycab owes its success to the dealers and distributors, who contributed 83 percent of the company’s revenue of ₹14107.8 crore in FY 2023.

In the fast-moving electronic goods (FMEG) space, the company, with 7,000+ stock-keeping units (SKUs), clocked a revenue of ₹1,240.4 crore during FY 2023. With 167 registered intellectual property rights (IPR) in its kitty, Polycab has spent ₹34.3 crores on research and development (R&D) activities – a 53.8 percent growth over ₹22.3 crores spent in FY 2022.

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