Polycab faces revised expectations from JM Financial, with the brokerage adjusting its March 2026 outlook and corresponding fourth-quarter estimates. The revision comes amid challenging market conditions that are expected to impact the company's performance in the near term.

Revised Financial Outlook

JM Financial has highlighted several factors contributing to weaker expectations for March 2026, which have directly influenced the brokerage's fourth-quarter estimates for Polycab. The revised projections reflect a more cautious assessment of the company's immediate prospects.

Market Challenges and Volume Projections

The brokerage has identified ongoing conflicts as a significant factor affecting the company's fourth-quarter estimates. These external challenges are expected to create headwinds for the business environment. Additionally, JM Financial forecasts flat year-over-year volumes, suggesting limited growth momentum in the immediate term.

Export Performance and Margin Dynamics

While the overall outlook appears challenging, high-margin exports are expected to provide some support to the company's profitability metrics. However, JM Financial notes that this positive factor will have limited impact on fourth-quarter EBITDA margins, indicating that the benefits may not be sufficient to offset other market pressures.

Analyst Assessment

The revised expectations reflect JM Financial's assessment of multiple factors affecting Polycab's performance trajectory. The combination of external market challenges, volume growth constraints, and limited margin expansion opportunities has led to a more conservative outlook for the company's near-term financial performance.

Polycab India Limited has formally disclosed its upcoming institutional investor and analyst meetings scheduled for March 2026, in compliance with regulatory requirements under SEBI's Listing Obligations and Disclosure Requirements Regulations, 2015.

Updated Meeting Schedule and Participants

The company has arranged multiple investor engagement sessions across three dates in March 2026. The updated schedule demonstrates the company's commitment to maintaining regular communication with institutional stakeholders through both virtual and physical meetings.

Meeting Framework and Content

Polycab India has specified that these investor conferences will strictly adhere to information sharing protocols. The meetings will focus on:

• Corporate presentations already hosted on the company's website
• Earnings presentations available in public domain
• Other publicly available information only

This approach ensures compliance with fair disclosure norms and maintains transparency in investor communications.

Regulatory Compliance

The disclosure was made on March 13, 2026, pursuant to Regulation 30 of the SEBI regulations. The company has noted that the meeting schedule remains subject to potential changes, providing flexibility while maintaining transparency with stakeholders.

The formal communication was digitally signed by Manita Carmen A. Gonsalves, Vice President-Legal and Company Secretary, ensuring proper authorization and documentation of the investor engagement schedule. The disclosure was submitted to both BSE Limited and National Stock Exchange of India Limited as per regulatory requirements.