After Polycab India became the lowest bidder for a project from Bharat Sanchar Nigam Limited (BSNL), the company’s shares increased by more than 4% to reach an intraday high of Rs 6,935 per on the NSE on Wednesday, 6 November.

According to a stock exchange filing, Polycab India has been selected as the lowest bidder for the development, modernization, management, and upkeep of the Bharat Net middle mile network across Karnataka, Goa, and Puducherry.

The project will be carried out using the Design Build Operate and Maintain (DBOM) model by the company. The company told the stock exchanges that the order was worth Rs 4,099.69 crore. In three years, the business will start building the middle mile network.

In accordance with the agreement, Polycab India would also maintain the project for ten years. For the first five years, the maintenance will cost 5.5% of the capital expenditure annually, and for the following five years, it will cost 6.5%.

Compared to Rs 4,217.7 crore in the previous year, Polycab India’s consolidated revenue from operations for the September quarter of FY25 climbed by more than 30% to Rs 5,498.4 crore. Compared to Rs 4,698 crore in the June quarter of FY25, the company’s operating revenue increased by 17% in the September quarter.

From Rs 429.77 crore in Q2FY24 to Rs 445.21 crore in the second quarter, the company’s net profit grew by over 3%. The company’s profit-after-tax increased sequentially from Rs 401.62 crore in Q1FY25 by about 11%.

At 3:30 pm, the shares of Polycab India closed 4.26% higher at Rs 6,915 on NSE.

The future of investing is here!
Unicorn Signals leverages advanced AI technology to provide you with powerful market predictions and actionable stock scans. Download the app todayand 10x your trading & investing journey!