Polycab India Limited has reported its strongest performance to date, with FY26 revenue exceeding ₹285 billion. The company achieved a 29% YoY revenue increase and a 32% rise in Profit After Tax (PAT), reaching ₹27,084 million. This growth, driven by successful execution of Project Spring, reflects robust demand across both Wires & Cables and FMEG business segments, solidifying the company’s leadership in the Indian electrical industry.
Record Financial Performance in FY26
For the fiscal year ended March 31, 2026, Polycab India achieved significant financial milestones. The company reported annual revenues of ₹2,88,838 million, a 29% growth year-on-year. Profitability also saw substantial gains, with EBITDA reaching ₹40,057 million (up 35%) and PAT reaching a record ₹27,084 million, reflecting a 32% increase compared to the previous year.
Quarterly Highlights (Q4: Jan-Mar 2026)
The company concluded the fiscal year on a high note, delivering strong Q4 results. Consolidated revenues for the quarter rose by 27% YoY to ₹88,645 million. The Wires & Cables (W&C) segment reported 30% growth for the quarter, bolstered by strong domestic performance and successful market share gains of ~3-4% during the year. Simultaneously, the FMEG segment showed impressive momentum with 47% YoY growth, with solar products emerging as the largest category in that portfolio.
Strategic Growth and Outlook
Management attributes this success to the continued implementation of Project Spring, which has structurally strengthened the company’s competitive position. While the EPC business experienced a 15% YoY revenue decline for the quarter due to project cycle timing, overall company operations remain resilient. As of March 31, 2026, the company maintains a robust net cash position of ₹41.9 billion, an increase from ₹24.6 billion the previous year.
Shareholder Returns
Reflecting confidence in future growth, the Board of Directors has proposed a dividend of ₹47 per share for FY26, representing 470% of face value. This action increases the company’s total dividend payout to 27.2%, aligning with the long-term goal of increasing payouts to over 30% by FY30.
Source: BSE
