Polycab India Limited on Wednesday reported its highest-ever annual revenue and profit for the financial year ended March 31, 2026, with consolidated revenue climbing 29 per cent year-on-year to ₹2,88,838 million, surpassing the ₹285 billion mark for the first time.

Profit after tax rose 32 per cent to ₹27,084 million, while EBITDA grew 35 per cent to ₹40,057 million, with margins expanding to 13.9 per cent.

The stock closed at ₹8,415.50 on the NSE, up 0.94 per cent on the day, giving the company a market capitalisation of approximately ₹1.26 lakh crore.

For the fourth quarter, consolidated revenue grew 27 per cent year-on-year to ₹88,645 million. However, quarterly EBITDA growth was more modest at 13 per cent, with margins at 13.1 per cent, and PAT grew just 7 per cent to ₹7,856 million — the highest-ever quarterly PAT for the company. The slower margin expansion in Q4 was attributed to an unfavourable product mix driven by higher institutional sales and operating deleverage.

The Wires and Cables segment remained the primary growth engine, with full-year revenues rising 33 per cent to ₹2,51,789 million.

The company said its Project Spring initiative helped it gain approximately 3–4 per cent domestic market share during the year.

The Fast-Moving Electrical Goods segment grew 25 per cent annually to ₹20,693 million, with solar products doubling year-on-year to become the largest category within FMEG.

The EPC business was the sole drag, registering a 13 per cent annual revenue decline due to project execution timing, though EBIT margins held at 9.9 per cent.

The company’s net cash position strengthened significantly to ₹41.9 billion as of March 31, 2026, up from ₹24.6 billion a year earlier. The board proposed a dividend of ₹47 per share — a payout of 470 per cent of face value — lifting the dividend payout ratio to 27.2 per cent, edging toward the Project Spring target of exceeding 30 per cent by FY30. The stock has gained 42 per cent over the past year, outpacing the Nifty Midcap 50 index’s 14.9 per cent return over the same period.

Published on May 6, 2026