Polycab IPO - Grey Market, GMP & Reviews

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About Polycab India Limited

Polycab 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, they manufacture and sell FMEG such as electric fans, LED lighting and luminaires, switches and switchgears, solar products and conduits and accessories.

Their promoters collectively have more than ftheir decades of experience among them. Their Company was incorporated as 'Polycab Wires Private Limited' on January 10, 1996 at Mumbai as a private limited company under the Companies Act, 1956.

They manufacture and sell a diverse range of wires and cables and their 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, they 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, they diversified into the FMEG segment and their key FMEG are electric fans, LED lighting and luminaires, switches and switchgears, solar products and conduits and accessories.

They have 25 manufacturing facilities, including their 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, they 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"). They strive to deliver customized and innovative products with speed and quality service. Their production process is designed to ensure quality while delivering the ability to produce complex electrical products on short timeframes to meet their customers' needs. Most of their manufacturing facilities are accredited with quality management system certificates for compliance with ISO 9001, ISO 14001 and OHSAS 18001 requirements. Their central quality and test laboratory in Halol is accredited by NABL and their central test laboratory, also located in Halol, for all flexible wires and cables is approved by Underwriters Laboratories ("UL"). Certain of their 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 electrotechnical commission ("IEC").

Their research and development ("R&D") capabilities, emphasis on upgrading the technology used in their production process, customer-centric R&D efforts and their R&D center located in Halol, assist their sales and marketing team in understanding their customers' requirements. In addition, they have adopted automation systems in their 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. They have also adopted the Maynard Operation Sequence Technique ("MOST") to drive productivity and optimize capacity utilization.

They have an established supply chain comprising their network of authorized dealers, distributors and retailers. This network supplies their products across India. Their distribution network in India comprise over 3,100 authorized dealers and distributors and 29 warehouses as at March 31, 2018. They supply their products directly to their authorized dealers and distributors who in turn supply their products to over 100,000 retail outlets in India. They manage their sales and marketing activities through their corporate office, three regional offices and 20 local offices in various parts of India as at June 30, 2018. In addition, in Fiscal 2018, they exported their products to over 40 countries.

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