Polycab Q1 Results: Profit surges 33% YoY to Rs 797 crore, revenue jumps 39%

Polycab India reported its highest-ever first-quarter performance, with consolidated revenue rising 39% year-on-year (YoY) to Rs 8,210 crore for the quarter ended June 30, 2026, driven by robust growth in its wires and cables (W&C) business and strong momentum in the fast-moving electrical goods (FMEG) segment.

Net profit increased 33% to Rs 797 crore, while EBITDA rose 32% to Rs 1,136 crore. EBITDA margin stood at 13.8%, while net profit margin came in at 9.7%.

The company’s W&C business, its largest segment, posted 39% YoY growth, led by a 43% increase in domestic revenue, supported by healthy market demand and execution under Project Spring. The wires segment outpaced cables, with channel sales growing faster than institutional sales. International business revenue, however, declined 13% year-on-year, although the company said a diversified global footprint and a healthy order book provide strong visibility for growth.


The FMEG business recorded a 71% YoY increase in revenue, with growth across all product categories. Solar products remained the largest category in the portfolio, growing more than two-fold from a year ago. Segment EBIT margin expanded to 8%, supported by operating leverage and a richer product mix, in line with the company’s Project Spring target of achieving 8-10% EBITDA margins by FY30.

The EPC business reported an 11% decline in revenue due to the timing of project execution, while maintaining an 11% EBIT margin. The company said the segment continues to be supported by a healthy order backlog and strong execution pipeline.

“We have entered FY27 with strong momentum, achieving our highest-ever first-quarter revenue and profit performance,” Chairman and Managing Director Inder T. Jaisinghani said. He added that sustained government infrastructure investments, capacity expansion, innovation and distribution network growth are expected to support long-term industry-leading growth.