Polycab Q1 Results: Cons PAT surges 50% YoY to Rs 592 crore; revenue jumps 26%

Polycab India on Thursday reported a 50% year-on-year (YoY) growth in its Q1FY26 net profit to 592 crore as compared to Rs 396 crore posted in the year-ago period. The net profit is attributable to the shareholders of the company.

The revenue from operations rose 26% YoY at Rs 5,906 crore versus Rs 4,698 crore in the year-ago period.

However, the profit after tax (PAT) declined 19% on a sequential basis versus Rs 727 crore reported in Q4FY25. The revenue also fell 15% on a quarter-on-quarter basis compared to Rs 6,986 crore reported in the January-March quarter of FY25.


The wire maker's PAT margins improved by 170 bps in Q1FY26 on a YoY basis to 10.2%.

The Earnings Before Interest, Taxes, Depreciation and Amortisation (EBITDA) margins improved by 210 bps YoY to 14.5%, supported by strategic pricing revisions, improved operational efficiency, and a favourable business mix, the company filing said.

In a media release, Polycab India said that the growth was driven by robust performance in the company's Wires & Cables (W&C) business, supported by healthy growth momentum in its Fast Moving Electrical Goods (FMEG) business.

The W&C segment achieved a 31% YoY growth for the quarter, aided by sustained demand across core sectors. The key growth drivers included higher government expenditure, better project execution, and rising commodity prices. The domestic business grew by 32% YoY, with cable growth once again outpacing wires.

Both channel and institutional business showed healthy traction. The international business grew 24% YoY, albeit on a low base, and accounted for 5.2% of the Company’s topline.

Management Commentary
Commenting on the company's performance, Chairman & Managing Director Inder T. Jaisinghani said that the company has started FY 2026 on a strong footing, delivering our highest-ever first-quarter revenue and profitability.

"Our Wires and Cables business continued to perform well, driven by sustained domestic demand, while our international business also delivered healthy year-on-year growth. The FMEG segment maintained its positive trajectory, marking its second consecutive profitable quarter, supported by a sharper focus on premium offerings and improved operating leverage," he said.

"With continued momentum in government spending and improving project execution on the ground, we are confident in our ability to capitalise on the opportunities that lie ahead," he added.