Polycab India Limited, the country’s largest manufacturer of wires and cables, has announced its highest-ever first-quarter results for the period ending June 30, 2025 (Q1 FY26). The company reported robust growth across all key business segments, driven by strong domestic demand, operational excellence, and strategic focus on premium product categories.

Revenue for Q1 FY26 stood at ₹5,906 crore, reflecting a significant 26% year-on-year growth from ₹4,687 crore in Q1 FY25. The company credited this stellar performance to its core Wires and Cables (W&C) segment, which alone witnessed 31% YoY growth, supported by rising government capex, infrastructure demand, and efficient project execution. The FMEG (Fast Moving Electrical Goods) business also maintained its positive trajectory, growing 18% YoY, with the solar product category more than doubling its sales.

Polycab’s EBITDA surged 47% YoY to ₹857.6 crore, while EBITDA margins expanded by 210 basis points to 14.5%, driven by strategic pricing actions and strong operating leverage. The company reported a Profit After Tax (PAT) of ₹599.7 crore, up 49% YoY, with PAT margins at 10.2%.

The domestic wires and cables segment saw 32% YoY growth, outperforming the overall business. Cables outpaced wires once again in terms of growth. International business also showed momentum, growing 24% YoY, and contributed 5.2% to the topline. The EPC segment, however, posted a 19% decline YoY, primarily due to project delays and softer demand.

The FMEG division continued to improve its profitability for the second straight quarter, driven by premiumization and scaling efficiencies. Solar products emerged as the largest contributor within FMEG, as demand from the real estate sector and rooftop installations remained high.

On the balance sheet side, Polycab reported a strong net cash position of ₹3,100 crore, nearly doubling from ₹1,640 crore in Q1 FY25. The company also announced a ₹35/share dividend, distributed post its 29th Annual General Meeting on July 1, 2025.

Chairman and Managing Director Mr. Inder T. Jaisinghani stated, “We have started FY26 on a strong note. With the momentum we see in infrastructure, real estate, and electrification, combined with our five-year roadmap under Project Spring, we are confident about the next phase of Polycab’s transformation.”

With a pan-India presence, expanding global footprint, and a diversified portfolio of electrical goods, Polycab remains well-positioned to benefit from India’s electrification and infrastructure growth over the coming years.

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