76 Market We live in a wired world today; wires and cables connect our systems, our machines, our gadgets, our friends and indeed, our lives. The global business primarily comprises of power cables, control and instrumentation cables, building wires and flexibles and was estimated at US$ 140-150 billion in 2020 and is expected to grow in mid-single digits. Overall, the wires and cables market in India is valued at C45,000-50,000 crore.The global growth drivers for the wires and cables industry include rising urbanisation, industrialisation and growing infrastructure. Additionally, increasing investments in renewable energy, upgradation of power transmission and distribution systems, smar t grid development, accelerated demand for internet connectivity and increased digitalisation on account of Covid-19 are expected to drive market growth.These factors augur well for higher demand from domestic and expor t markets. Polycab has a market share of 20-22% (Source: internal estimates) of the organised Indian wires and cables industry. Growth is expected to be driven by investments in transmission and distribution facilities and capacity addition in solar and wind energy.The construction sector, led by infrastructure projects, suppor ted by rail network expansion and urban infrastructure projects like the Smar t Cities mission, Metro Rail and Data Centres will drive the demand growth. Roads are expected to drive a majority of construction spends; investments in urban infrastructure, irrigation and railways are expected to grow at a fast pace. 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 demand for Optical Fibre Cables (OFC) in the coming years. Bharatnet is the world’s largest rural broadband connectivity programme aimed at connecting all the 2.5 lakh Gram Panchayats (GP) across India. Achievements Polycab has continuously expanded its manufacturing infrastructure and capacity to match the rapid rise in demand for its products. It has 23 manufacturing facilities located across the states of Gujarat, Maharashtra and Uttarakhand and the district of Daman. Four of these 23 manufacturing facilities are used to manufacture fast moving electrical goods (FMEG) products range, including a 50:50 joint venture with Techno LED, a Gujarat-based manufacturer of LED products. Polycab is the only company to have eight 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 manufacturing, steel, cement, chemicals, atomic energy and nuclear power industries, amongst others. Prominent customers in over 55 countries source their requirements from Polycab on a regular basis. In line with its rise to eminence are several accreditations and validations that the company has received.The National Accreditation Board for Testing and Calibration Laboratories (NABL) has accredited the Polycab Power Cable Test Laboratory at Halol and Energy Management System (EnMS) Cer tificate based on ISO 50001: 2018 standard at UH3A – 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 of Polycab were modest.The company commenced operations as a retail outlet. As business grew, the four Jaisinghani brothers realised that brands that were available in the country left a great deal to be desired. Serious quality lacunae were not the only issue. Even more tragic would have been the outcome of a serious shor t circuit.They worked hard and launched one of the largest cable and wire brands 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 7Ps: product, price, place, positioning, process, packaging and people – led to a surge in demand resulting in a larger unit being set up. Simultaneously, the company expanded its footprint and began a gradual panIndia 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 units in Halol, Vadodara, Nashik and Roorkee. In April 2019, the company had its maiden public issue that was enthusiastically embraced by investors and oversubscribed a whopping 52 times. Product The key features that establish Polycab’s reputation of high performance and safe products are innovation, superior quality of raw Polycab’s journey from a small 200 square feet retail outlet to a publicly listed C8,900 crore organisation has been a challenging experience. Driving the company’s success and ambition is Inder Jaisinghani, Chairman and Managing Director of Polycab. He represents a classical Indian entrepreneur: challenging the status quo, thriving in unforgiving conditions, fashioning a road less travelled, establishing a distinct space and building a corporation that is as respected for its quality as it is for its formidable accomplishments. Polycab is quintessentially an Indian company at heart. Polycab Green Wire is energy- efficient with a current carrying capacity 20% higher Superbrands 2022 in.superbrands.com
RkJQdWJsaXNoZXIy MzM4MjU2