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Total operating expenses for the period under review rose 12.6% YoY to Rs 821.5 crore from Rs 729.6 crore in the same period last year.
While EBITDA improved by 32.5% YoY to Rs 1,136.2 crore, EBITDA margin contracted by 70 basis points YoY to 13.8% in Q1 FY27.
Profit before tax in Q1 FY27 stood at Rs 1,058.2 crore, up by 32.2% from Rs 800.6 crore in Q1 FY26.
Inder T. Jaisinghani, chairman and managing director, Polycab India, said: 'We have entered FY2027 with strong momentum, achieving our highest-ever first-quarter revenue and profit performance.
The Wires and Cables segment maintained its robust growth trajectory, supported by healthy domestic demand and effective operational execution.
Our FMEG business delivered an outstanding quarter, continuing to strengthen its profitability through a strong product portfolio, enhanced operational efficiencies and a growing shift towards premium products.
Our international business continues to be a key driver of the next phase of growth, supported by a strong order book.
Meanwhile, the EPC segment remains on a solid footing, underpinned by a healthy order backlog and a strong project execution pipeline. Looking ahead, sustained government infrastructure investments and improving on-ground project implementation are expected to create significant growth opportunities.
Supported by a strong financial position and ongoing investments in capacity enhancement, innovation, and distribution expansion, we are well-positioned to strengthen our market leadership and deliver sustainable, industry-leading growth over the long term.'
Polycab India (PIL) is India’s largest manufacturer of wires and cables and one of the fastest growing FMEG companies.
The scrip fell 3.93% to currently trade at Rs 8854 on the BSE.
Polycab India Ltd, Sonata Software Ltd, Zensar Technologies Ltd, CRISIL Ltd are among the other stocks to see a surge in volumes on BSE today, 02 July 2026.
Petronet LNG Ltd clocked volume of 16.62 lakh shares by 10:46 IST on BSE, a 23.28 times surge over two-week average daily volume of 71389 shares. The stock lost 0.66% to Rs.277.20. Volumes stood at 66728 shares in the last session.
Polycab India Ltd registered volume of 2.05 lakh shares by 10:46 IST on BSE, a 13.88 fold spurt over two-week average daily volume of 14800 shares. The stock slipped 1.03% to Rs.9,607.00. Volumes stood at 15981 shares in the last session.
Sonata Software Ltd clocked volume of 7.53 lakh shares by 10:46 IST on BSE, a 12.47 times surge over two-week average daily volume of 60373 shares. The stock gained 5.85% to Rs.279.60. Volumes stood at 37089 shares in the last session.
Zensar Technologies Ltd notched up volume of 5.18 lakh shares by 10:46 IST on BSE, a 7.62 fold spurt over two-week average daily volume of 67981 shares. The stock rose 8.19% to Rs.461.85. Volumes stood at 78298 shares in the last session.
CRISIL Ltd clocked volume of 23141 shares by 10:46 IST on BSE, a 6.91 times surge over two-week average daily volume of 3347 shares. The stock lost 0.21% to Rs.4,074.95. Volumes stood at 4738 shares in the last session.
On a consolidated basis, profit after tax rose 7% YoY and 24.7% QoQ to Rs 785.6 crore in Q4 FY26. Revenue from operations stood at Rs 8,864.5 crore in Q4 FY26, up 26.9% YoY and 16.1% QoQ, driven by robust execution across both wires and cables (W&C) and FMEG business.
EBITDA stood at Rs 1,161.3 crore in Q4 FY26, up 13.2% YoY and 20.2% QoQ. EBITDA margin came in at 13.1% compared with 14.7% in Q4 FY25 and 12.7% in Q3 FY26.
Profit before tax stood at Rs 1,049.3 crore in Q4 FY26, up 24.6% vs Q3 FY26 and 9.2% vs Q4 FY25.
Cost of goods sold increased 30.4% YoY to Rs 6,786.7 crore in Q4 FY26. Employee cost declined 5.2% YoY to Rs 193.1 crore, while other operating expenses rose 31.2% YoY to Rs 723.3 crore during the quarter.
For FY26, revenue from operations rose 28.9% YoY to Rs 28,883.8 crore from Rs 22,408.3 crore in FY25. EBITDA for FY26 stood at Rs 4,005.7 crore, up 35.3% YoY, while PAT increased 32.4% YoY to Rs 2,708.4 crore.
Operationally, the wires and cables business revenue grew 33% YoY to Rs 25,178.9 crore in FY26, driven by strong growth across distribution and institutional segments. The international business contributed 5.4% of consolidated revenue.
The FMEG business revenue increased 25% YoY to Rs 2,069.3 crore, aided by strong traction in solar products. The EPC business revenue declined 13% YoY, though EBIT margin remained healthy at 9.9%.
The board recommended a dividend of Rs 47 per equity share of face value Rs 10 each for FY26.
Net cash flow from operating activities stood at Rs 3,810.7 crore in FY26, higher than Rs 1,808.5 crore in FY25.
Polycab’s net cash position stood at Rs 4,190 crore as of 31 March 2026 compared with Rs 2,460 crore a year earlier.
Brokerages turned bullish following the results. A foreign brokerage raised its target price to Rs 10,500 from Rs 9,500 while maintaining a Buy rating, citing strong execution and market share gains. Another global brokerage lifted its target to Rs 9,770 from Rs 8,950, highlighting Polycab’s rising share in the organised cables and wires market, which has climbed to 30-31%.
A domestic brokerage increased its target price to Rs 9,800 from Rs 9,350, forecasting revenue and EBITDA CAGRs of 19% and PAT growth of around 18% over FY26-28. Another brokerage raised FY27 and FY28 earnings estimates by 3-5% and revised its target to Rs 9,740 from Rs 9,420.
Polycab India is India’s largest manufacturer of wires and cables and also operates a fast-growing FMEG business spanning fans, lighting, switches, solar products and home appliances.
For the full year,net profit rose 32.28% to Rs 2672.03 crore in the year ended March 2026 as against Rs 2019.99 crore during the previous year ended March 2025. Sales rose 28.90% to Rs 28883.79 crore in the year ended March 2026 as against Rs 22408.31 crore during the previous year ended March 2025.