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Polycab India to tap primary market in 2nd week of April 2019

Published on Sunday, March 31, 2019 by Chittorgarh.com Team

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Polycab India to tap primary market in 2nd week of April 2019

Polycab India Ltd. (PIL) is engaged in the business of manufacturing and selling wires and cables and fast moving electrical goods ("FMEG") under the "POLYCAB" brand. Apart from wires and cables, we manufacture and sell FMEG such as electric fans, LED lighting and luminaries, switches and switchgears, solar products and conduits and accessories.

The company manufactures and sells a diverse range of wires and cables and r key products in the wires and cables segment are power cables, control cables, instrumentation cables, solar cables, building wires, flexible cables, flexible/single multi core cables, communication cables and others including welding cables, submersible flat and round cables, rubber cables, overhead conductors, railway signaling cables, specialty cables and green wires. In 2009, it diversified into the engineering, procurement and construction ("EPC") business, which includes the design, engineering, supply, execution and commissioning of power distribution and rural electrification projects. In 2014, it ventured into the FMEG segment and its key FMEG are electric fans, LED lighting and luminaries, switches and switchgears, solar products and conduits and accessories.

PIL has 25 manufacturing facilities, including two joint ventures with Techno and Trafigura, located across the states of Gujarat, Maharashtra and Uttarakhand and the union territory of Daman and Diu. Three of these 25 manufacturing facilities are for the production of FMEG, including a 50:50 joint venture with Techno, a Gujarat-based manufacturer of LED products. In 2016, it entered into a 50:50 joint venture with Trafigura, a commodity trading company, to set up a manufacturing facility in Halol, India to produce copper wire rods (the "Ryker Plant").

PIL strives to deliver customized and innovative products with speed and quality service.

Most of manufacturing facilities are accredited with quality management system certificates for compliance with ISO 9001, ISO 14001 and OHSAS 18001 requirements. Its central quality and test laboratory in Halol is accredited by NABL and central test laboratory, also located in Halol, for all flexible wires and cables is approved by Underwriters Laboratories ("UL"). Certain of company's products are also certified to be compliant with various national and international quality standards including Bureau of Indian Standards ("BIS"), British Approvals Service for Cables ("BASEC"), UL and international electro technical commission ("IEC").

Company's research and development ("R&D") capabilities, emphasis on upgrading the technology used in production process, customer-centric R&D efforts and R&D center located in Halol, assist sales and marketing team in understanding customers' requirements. In addition, it has adopted automation systems in manufacturing process such as the manufacturing excellence system ("MES"), which is an automated sensor base system for recording the actual consumption of raw materials in production, as well as enterprise resource planning ("ERP") systems. It has also adopted the Maynard Operation Sequence Technique ("MOST") to drive productivity and optimize capacity utilization.

The company is in the process of taping the primary market with its maiden offer by second week of April 2019. It consists of offer for sale as well as fresh issue of equity shares. More details on the IPO will be dealt with shortly.

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