India Volume 12

108 SUPERBRANDS 2020 Market It is a wired world we live in today; wires and cables connect our systems, our machines, our gadgets, our friends and indeed, our lives. This global business runs into hundreds of billions of dollars primarily comprising Power Cables, Control & Instrumentation Cables, Building Wires and Flexibles. The total wires and cables industry in India has grown at a CAGR of 11% from H 346* billion in FY2014 to H 525* billion in FY2018. Of this Power Cables, C&I Cables, Building Wires and Flexibles account for approximately H 245 billion, H 62 billion, H 94 billion and H 76 billion respectively in FY2018. As per CRISIL estimates for fiscal 2018, Polycab has a market share of approximately 18% of the organised wires and cables industry and approximately 12% of the total wires and cables industry in India. Further the industry is estimated to expand at a CAGR of approximately 15% in value terms to reach approximately H 1,033* billion by fiscal 2023. metal, cement, chemicals, atomic energy and nuclear power industries amongst others. Leading contractors in over 40 countries source their requirements from Polycab on a regular basis. Concurrent with its rise to eminence are several accreditations and validations that the company has received. NABL – National Accreditation Board for Testing and Calibration Laboratories – has accredited the Polycab Power Cable Test Laboratory at Halol. Product innovation and uncompromising quality – the two values Polycab excels in have stood it in good stead and continue to propel the company forward. History The early days for Polycab were modest. The company commenced operations as a retail outlet. As business grew, the four Jaisinghani brothers discovered that generally brands that were available in the country left a great deal to be desired. Serious quality lacunae was not the only issue, even more tragic would have been the outcome of a serious short circuit. They threw their hat in the ring. And launched what was to become, in the years to come, one of the greater cables and wires brand in the country. Their first factory manufacturing low-voltage cables commenced operations in Mumbai in 1975. Positive word of mouth and adherence to the great marketing principle – the 4 Ps: Product, Price, Place and Promotion – led to a surge in demand resulting in a larger unit to be set up. Simultaneously, the company expanded its footprint and began a gradual pan-India roll out. At each metro and mini metro, the word-of-mouth was overwhelmingly favourable. Encouraged by this response, Polycab went into overdrive. In 1984, it set up a larger unit in Halol in Gujarat and followed this up with another unit, some years later, in Daman. These have been followed by more and more units in Halol, Baroda, Nashik and Roorkee. More recently, in April 2019, the Growth is expected to be driven by investments in transmission and distribution facilities and new capacity addition in Solar Energy and Wind Energy. Construction sector, led by infrastructure projects supported by rail network expansion and urban infrastructure projects like the Smart Cities mission, metro rail etc., will drive the growth demand. Roads are expected to drive the majority of the construction spend; investments in urban infrastructure, irrigation and railways are expected to grow at a fast pace. Investments in industrial construction will be driven by oil & gas and automobile sectors. Affordable housing, healthcare and education are the three segments in real estate which are expected to drive building construction leading to increased demand for wires and cables. India is the second largest telecom market and the fastest growing in the world which will drive the demand for optical fibre cable (OFC) network in the coming years. Achievements Polycab has continuously expanded its manufacturing infrastructure and capacity to match the rapid rise in demand for its products. It has 24 manufacturing facilities, including two joint ventures with Techno Electromech Pvt Ltd. and Trafigura Pte Ltd., located across the states of Gujarat, Maharashtra and Uttarakhand and the union territory of Daman and Diu. Four of these 24 manufacturing facilities are for the production of FMEG, including a 50:50 joint venture with Techno, a Gujarat-based manufacturer of LED products. Polycab is the only company to have six Catenary Continuous Vulcanization (CCV) lines. Polycab bonds with millions of satisfied customers every year, riding on advantages like product innovation, superior quality and ready availability. Its clientele includes market leaders in sectors like utilities, power generation, transmission and distribution, petroleum and oil refineries, original equipment manufacturers, EPC contractors, steel, Polycab’s journey from a small 200 square feet retail outlet to a publicly listed H 8,500 crore organisation straddling 3.5 million square feet of manufacturing space started at the dawn of Independence. Driving the company’s success and ambition is Inder Jaisinghani – Chairman and Managing Director of Polycab. He represents the classical Indian entrepreneur: challenging the status quo, thriving in unforgiving conditions, fashioning a road less travelled, creating a distinct space and building a corporation that is as respected for its quality as it is for its formidable accomplishments. Polycab is quintessentially a company very Indian at heart. *Excluding Optical Fibre Cables (OFC)