Polycab India (POLYCAB) — Financial Results

Polycab India reported a 26% YoY revenue increase to ₹87.22 crores and a 49% YoY net profit rise to ₹10.2 crores in Q1 FY26, driven by 31% growth in wires and cables revenue and 14.7% EBIT margin expansion. Export revenue grew 33% YoY, with the U.S. as a key market, while FMEG sales rose 18% and achieved two profitable quarters. Capex of ₹4.1 crores was deployed primarily to cables and wires under Project Spring, targeting 1.5-2x industry growth and 8-10% EBITDA margins by FY30. The company highlighted strong infrastructure demand, including ₹1.26 trillion monthly government spending, and a ₹80 billion EPC order book, with BharatNet contributing from H2 2025. Market share gains in cables and wires stem from scale, product breadth, and distribution reach.

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About Polycab India Limited (POLYCAB)

Capital Goods · Industrial Products · Listed on NSE

Market Cap: ₹1,37,797.43 Cr P/E: 74.8

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