Mumbai, Jan 16: Polycab India Limited (BSE: 542652, NSE: POLYCAB) today announced its results for the third quarter and nine months ended December 31, 2025.
Commenting on the performance, Mr. Inder T. Jaisinghani, Chairman and Managing Director, Polycab India Limited, said:“Q3 marked a record-breaking quarter for the Company, with revenues at an all-time high, driven by strong execution in the W&C business and sustained momentum in the FMEG segment. The domestic business delivered exceptional performance, reflecting robust demand conditions and continued market share gains. Execution discipline under Project Spring is translating into consistent outperformance, while early signs of revival in private capex provide further confidence in our growth outlook.”
Key Highlights (Q3 FY26)
· The Board of Directors, basis recommendation of the Nomination and Remuneration Committee, approved the redesignation of Mr. Bharat A. Jaisinghani and Mr. Nikhil R. Jaisinghani from Executive Director to Joint Managing Director with immediate effect, subject to approval of the shareholders of the Company.
· The Company’s revenues grew by 46% YoY to stand at ₹ 76,361 Mn. The strong growth was driven by robust execution in our Wires & Cables (W&C) business, supported by healthy growth momentum in our Fast-Moving Electrical Goods (FMEG) business.
§ The W&C segment delivered 53% YoY growth for the quarter, driven by exceptional domestic performance with 59% growth, supported by robust demand and sustained commodity price inflation. Execution excellence under Project Spring continues to drive market share gains. Wires outperformed cables during the quarter. Within the cables segment, institutional sales growth outpaced channel sales growth. The international business recorded a marginal year-on-year increase, contributing 6% to consolidated revenues. Strategic decision to defer the pass-through of elevated input cost to protect demand, coupled with an unfavourable mix shift towards lower export contribution & higher institutional sales resulted in a margin decline of ~300 bps QoQ to 12.1%
§ The FMEG segment demonstrated continued momentum, recording 17% YoY growth in the quarter. Growth was led by the solar category, with other product segments performing broadly in-line with industry performance. Segment profitability remained stable, despite higher investments in brand-building initiatives, supported by improving scale and a favourable shift in product mix
§ The EPC business reported revenues of ₹4,069 million, a 4% YoY increase. EBIT margins stood at 6.7%.
· EBITDA grew by a robust 34% YoY, with consolidated margins at 12.7%.
· PAT registered a strong growth of 36% YoY, with PAT margins at 8.3%
Key Highlights (9M FY26)
· The Company achieved a significant milestone, with nine-month revenues surpassing ₹ 200 billion for the first time ever. Revenue grew by 30% YoY to ₹ 2,00,193 Mn from ₹ 1,54,225 Mn in 9M FY25
§ W&C business revenues grew 35% YoY to ₹ 1,75,054 Mn from ₹ 1,29,680 Mn in 9M FY25 with strong growth across both distribution and institutional businesses. The International business contributed 5.9% of the consolidated revenue.
§ FMEG business grew 16% YoY to ₹ 13,775 Mn in 9M FY26 from ₹ 11,844 Mn in 9M FY25.
§ The EPC business registered a 12% YoY decline, with EBIT margins at 11.0%.
· EBITDA grew 47% YoY to ₹ 28,444 Mn in 9M FY26 from ₹ 19,349 Mn in 9M FY25. EBITDA margins stood at 14.2%.
· PAT increased by 47% YoY to ₹ 19,228 Mn from ₹ 13,112 Mn, to register highest ever nine-month PAT. PAT margin stood at 9.6%
· As of 31st December 2025, net cash position stood at ₹ 30.3 Bn, against ₹ 17.1 Bn in the same quarter previous year
