Polycab India Amalgamates UEEPL as its Wholly Owned Subsidiary in India

Polycab India has integrated Uniglobus Electricals and Electronics (UEEPL) as its wholly owned subsidiary on March 24, 2021.

Uniglobus Electricals and Electronics has an authorised capital of Rs.1 crore and paid up capital of Rs.1 lakh. The main aim of incorporating a company is to develop the business of trading and manufacturing of cables, fast moving electrical, wires, and electronics goods. Thus, the organization has made the announcement during the market hours on 25 March 2021.

However, Polycab India's consolidated net profit jumped by 19.1 percent to Rs.263.62 crore on 11.6 percent rise in net sales to touch Rs.2,798.83 crore in Q3 December 2020 over Q3 December 2019.

Furthermore, the shares of Polycab India dropped 0.24 percent to Rs.1,367 on BSE. Polycab India manufactures and sells various types of cables, wires, electric fans, LED lighting and luminaires, switches and switchgears, pumps, solar products, and conduits and accessories. The company caters to various public and private institutions across a diverse set of industries, alongwith its retail customers through its B2C business.