Polycab Q2 Results: Firm Achieves Highest Ever Revenue, Profits Amid Solid Growth In Core Segment

Polycab Q2 Results: Polycab India, a leading wire and cable manufacturer, reported its highest ever revenue and profitability for the second quarter and half year ended September 30, 2025. According to a stock exchange filing, the company achieved significant growth across its core business segments, reflecting strong demand and strategic execution. The company’s revenue for the second quarter of FY26 stood at ₹64,772 million, marking an increase of 18% year-on-year. This growth was primarily driven by the strong performance of the Wires & Cables (W&C) segment, which saw a 21% increase in revenue compared to the same period last year. The segment’s success was attributed to sustained demand across both the government and private sectors, as well as an inflationary trend in commodity prices that provided an additional boost towards the end of the quarter. Polycab’s Fast-Moving Electrical Goods (FMEG) segment also contributed to the company’s strong performance, registering a year-on-year revenue growth of 14%. Despite challenges in the fans category due to an extended monsoon season and increased channel inventory, other categories within the FMEG segment experienced healthy growth. The solar category in particular maintained strong momentum, driven by strong demand under central and state solar rooftop incentive schemes. The company anticipates that this category will become the largest within the FMEG portfolio for the year. However, the engineering, procurement and construction (EPC) segment reported a 19% decline in revenue, amounting to ₹4,024 million. Despite this decline, the segment’s VVRB increased by 42% year-on-year, indicating improved operational efficiency. For the half-year period, Polycab’s revenue crossed ₹120 billion for the first time, growing 21% year-on-year. The W&C segment led this growth with a 26% increase in revenue, reaching ₹107,641 million. The FMEG business also grew 16% year-on-year, while the EPC segment experienced a 19% decline in revenue. Profitability Snapshot Polycab’s second-quarter EBITDA rose 62% year-on-year to ₹10,207 million, supported by stronger margins in the W&C business and a one-off gain in the EPC segment. The company’s consolidated EBITDA margins improved by approximately 130 basis points sequentially to 15.8%. For the half-year period, EBITDA grew 55% year-on-year to ₹18,784 million, with margins standing at 15.2%. The company’s profit after tax (PAT) for the second quarter increased 56% year-on-year to ₹6,930 million, with PAT margins improving by around 260 basis points year-on-year to 10.7%. For the half-year period, PAT rose 53% year-on-year to ₹12,927 million, achieving the highest ever half-yearly PAT with a margin of 10.4%. Commenting on the performance, Inder T. Jaisinghani, Chairman and Managing Director, Polycab India, said, “Our performance in Q2 FY26 is another strong step forward in Polycab’s growth journey. We delivered our highest ever second quarter and half-year revenue and profitability, reflecting the continued strength of our core Wires & Cables environment, continued domestic operating system and the healthy demand, EG-FM business reflected. supported by government infrastructure spending and improving private capex sentiment, while continuing to scale our international business. As we progress on our Project Spring agenda, we remain committed to driving industry-leading growth and creating long-term value for all stakeholders.” As of September 30, 2025, Polycab reported a net cash position of ₹29.4 billion, up from ₹24.3 billion in the same quarter of the previous year. Disclaimer: This article was generated using AI tools and underwent editorial review for clarity and coherence.