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Informist, Wednesday, May 6, 2026

 

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--Polycab India Jan-Mar consol net profit INR 7.73 bln 
--Analysts saw Polycab India Jan-Mar consol net profit at INR 7.12 bln 
--Polycab India Jan-Mar consol revenue INR 88.64 bln 
--Analysts saw Polycab India Jan-Mar consol revenue at INR 82.42 bln 
--Polycab India Jan-Mar consol PAT INR 7.73 bln vs INR 7.27 bln year ago 
--Polycab India Jan-Mar consol revenue INR 88.64 bln vs INR 69.86 bln yr ago 
--Polycab India to pay INR 47 per share dividend 
--Polycab India FY26 consol PAT INR 26.72 bln vs INR 20.20 bln year ago 
--Polycab India FY26 consol revenue INR 288.84 bln vs INR 224.08 bln yr ago 
--Polycab India Jan-Mar wire, cable revenue INR 77.62 bln vs INR 60.19 bln 
--Polycab Q4 fast-moving electric goods sales INR 6.63 bln vs INR 4.76 bln 
--Polycab India Jan-Mar EPC business revenue INR 5.10 bln vs INR 6.03 bln 
--Polycab India ups tenure of CFO Niyant Maru till Apr 16, 2027 from Jul 17 
--Polycab India Jan-Mar consol EBITDA INR 11.61 bln, up 13% on year 
--Polycab India Jan-Mar consol EBITDA margin 13.1% vs 14.7% year ago 
--Polycab India Jan-Mar wires, cables EBIT margin 13.1% vs 15.1% year ago 
--Polycab India Jan-Mar wires, cables EBIT margin down on lower export mix

--Polycab Q4 fast-moving electric goods EBIT margin 4.1% vs 0.5% year ago 

--Polycab India Jan-Mar EPC ops EBIT margin 7.6% vs 9.4% year ago 

--Polycab: Expect EPC operating margin in high single digit over long term 

--Polycab: Cable institutional sales growth outpaced channel sales growth Q4 

--Polycab Jan-Mar wire, cable international ops sales up 18% on year 

 

 

By Ashutosh Pati

 

MUMBAI – Polycab India Ltd. Wednesday reported the slowest rise in six quarters in its bottom line for the March quarter. The growth of the company's profit was hobbled by pressure on margins in its leading wires and cables segment due to a lower export mix. The electrical equipment manufacturer's top line rose robustly for the quarter, primarily because of a sharp rise in the same wires and cables segment. Polycab's revenue has risen in double digits for 12 consecutive quarters.

 

The company's consolidated net profit rose over 6% on year to INR 7.73 billion for the March quarter, slightly higher than expectations of INR 7.12 billion. Its revenue for the quarter rose nearly 27% on year to INR 88.64 billion. Analysts had expected the company to post revenues of INR 82.42 billion. Sequentially, the company's bottom line rose over 24% and its top line rose 16%.

 

Polycab India's consolidated earnings before interest, tax, depreciation, and amortisation rose 13% on year to INR 11.61 billion. However, its consolidated EBITDA margin fell to 13.1% in the March quarter from 14.7% a year ago. The EBIT margin of the company's wires and cables segment fell 2 full percentage points to 13.1% in the reporting quarter. Its EBIT margin for the fast-moving electrical goods segment rose to 4.1% from 0.5% a year ago while the margin of the engineering, procurement, and construction business fell to 7.6% during the quarter from 9.4% a year ago.

 

The decline in margin on an annual basis was primarily because of an unfavourable mix shift, led by lower export contribution, higher institutional sales, and operating deleverage, the company said. Polycab's EBITDA margins continue to remain within the guided range of 12–14%. The company expects the operating margin of its engineering, procurement, and construction segment to be in the high single digit over the medium-to-long term.

 

Revenues from the wires and cables segment, the biggest contributor to the company's sales, rose 29% on year to INR 77.62 billion for the reporting quarter. Polycab's revenues from its fast-moving electrical goods segment rose to INR 6.63 billion from INR 4.76 billion in the year-ago quarter, an increase of over 39%. Revenues from the engineering, procurement, and construction business, however, fell over 15% on year to INR 5.10 billion.

 

The company's total expenses rose nearly 30% on year to INR 78.76 billion, led by a rise in material costs and other expenses. Polycab's total material cost rose over 30% to INR 67.87 billion in the March quarter. Cost of materials consumed rose nearly 36% to INR 59.62 billion. The company's other expenses rose around 31% on year to INR 5.37 billion.

 

 

Institutional sales growth outpaced the company's channel sales growth in the wires and cables segment. Its international operations in this segment grew 18% on year in the March quarter, contributing 4.4% to the top line. All of its products in the fast-moving electrical goods segment sustained their growth momentum during the quarter. Solar products emerged as the standout, almost doubling on year to be the largest category within the segment, the company said. 

 

For the financial year 2025-26 (Apr-Mar), the company reported a net profit of INR 26.72 billion, up over 32%. Its revenue for the year rose around 29% to INR 288.84 billion. Polycab will pay a dividend of INR 47 per share for FY26. The company extended the tenure of Chief Financial Officer Niyant Maru till Apr. 16, 2027, from Jul. 17, 2026.

 

The company declared its March quarter results during market hours. Shares of Polycab closed around 1% higher at INR 8,415.50 on the National Stock Exchange.  End

 

Edited by Rajeev Pai

 

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