Polycab India Limited announced on Wednesday that it achieved its highest annual revenue and profit for the financial year ending March 31, 2026. The company’s consolidated revenue rose by 29 percent year-on-year to ₹2,88,838 million, marking the first time it surpassed the ₹285 billion threshold.
Profit after tax experienced a significant increase of 32 percent, reaching ₹27,084 million. Additionally, EBITDA saw a growth of 35 percent to ₹40,057 million, resulting in an EBITDA margin expansion to 13.9 percent. On the National Stock Exchange, shares closed at ₹8,415.50, reflecting a daily increase of 0.94 percent and giving the firm a market capitalization of approximately ₹1.26 lakh crore.
In the fourth quarter, consolidated revenue increased by 27 percent year-on-year to ₹88,645 million. However, quarterly EBITDA growth was more modest at 13 percent, with margins reported at 13.1 percent. Profit after tax rose by 7 percent to ₹7,856 million, marking the highest quarterly PAT in the company’s history. The slower margin expansion in Q4 was attributed to an unfavorable product mix resulting from higher institutional sales and operational deleverage.
The Wires and Cables segment remained the principal driver of growth, with full-year revenues experiencing a 33 percent increase to ₹2,51,789 million. The company credited its Project Spring initiative with helping it gain approximately 3-4 percent in domestic market share during the year.
The Fast-Moving Electrical Goods (FMEG) segment grew by 25 percent annually, reaching ₹20,693 million, with solar products doubling year-on-year to become the largest category within FMEG. Conversely, the EPC business was a sole detractor, reporting a 13 percent decrease in annual revenue due to project execution timing. Nevertheless, EBIT margins in this segment remained stable at 9.9 percent.
As of March 31, 2026, the company’s net cash position significantly improved to ₹41.9 billion, up from ₹24.6 billion the previous year. The board also proposed a dividend of ₹47 per share, amounting to a payout of 470 percent of face value, which raised the dividend payout ratio to 27.2 percent, approaching the Project Spring goal of exceeding 30 percent by FY30. Over the past year, the stock has appreciated by 42 percent, significantly outperforming the Nifty Midcap 50 index, which saw a return of 14.9 percent during the same period.
Published on May 6, 2026.
