- Polycab India’s Q1 net profit rose 32.5% to Rs 784 crore year on year
- Revenue increased 39% to Rs 8,210 crore driven by core business growth
- Wires & Cables segment revenue grew 38% to Rs 7,202 crore with 25% EBIT rise
Polycab India Ltd. reported higher revenue and profit for the quarter ended June 2026, supported by growth across its core businesses. Even so, the stock fell nearly 1% in intraday trade on the National Stock Exchange and was trading at Rs 9,230 apiece.
The first-quarter performance was driven by higher sales in the company's Wires & Cables business and continued growth in its Fast Moving Electrical Goods business. While operating profit increased from a year earlier, EBITDA margin narrowed.
Revenue And Profit Grow, Margin Narrows
Net profit rose 32.5% year on year to Rs 784 crore from Rs 592 crore in the same quarter last year.
Revenue from operations increased 39% to Rs 8,210 crore from Rs 5,906 crore.
EBITDA rose 32.5% to Rs 1,136 crore from Rs 858 crore a year earlier. However, EBITDA margin declined to 13.8% from 14.5%, indicating lower profitability relative to sales despite higher operating earnings.
Wires & Cables, FMEG Drive Growth
Revenue from the Wires & Cables segment, the company's largest business, increased 38% year on year to Rs 7,202 crore. Segment EBIT rose 25% to Rs 959 crore.
The Fast Moving Electrical Goods business also reported higher growth. Revenue from the segment climbed 68% to Rs 761 crore, while EBIT increased to Rs 60.6 crore from Rs 9.5 crore in the year-ago quarter.
Commenting on the results, Chairman and Managing Director Inder T. Jaisinghani said the company had begun FY2027 with its highest first-quarter revenue and profit.
"We have entered FY2027 with strong momentum, achieving our highest-ever first-quarter revenue and profit performance. The Wires and Cables segment maintained its robust growth trajectory, supported by healthy domestic demand and effective operational execution. Our FMEG business delivered an outstanding quarter, continuing to strengthen its profitability through a strong product portfolio, enhanced operational efficiencies and a growing shift towards premium products. Our international business continues to be a key driver of the next phase of growth, supported by a strong order book," Jaisinghani said.
Stock Trades Lower After Results
Polycab India shares have gained more than 33% over the past year, including about 20% so far in 2026. Over the past month, however, the stock has declined more than 3%.
As of the end of Wednesday, the company had a market capitalisation of Rs 1,37,872.34 crore and traded at a price-to-earnings multiple of 51.86 times.
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