Polycab India Limited plans to appeal to the National Company Law Appellate Tribunal (NCLAT) after the National Company Law Tribunal (NCLT), Ahmedabad Bench, admitted a petition for initiating the Corporate Insolvency Resolution Process (CIRP). The admission stems from an alleged operational debt of ₹2.79 crore filed by Asier Metals Private Limited.

The NCLT passed the order on October 07, 2026, in C.P. (IB) No. 273/9/AHM/2026 under Section 9 of the Insolvency and Bankruptcy Code, 2016. Polycab stated that it has strong grounds for appeal, characterizing the matter as a commercial dispute. The company is currently in the process of filing this challenge before the appellate tribunal.

Financial resilience and liquidity position

Despite the regulatory development, Polycab asserted that it does not expect any adverse or material impact on its financial or business operations. The company highlighted its robust balance sheet to reassure stakeholders of its financial stability amidst the proceedings.

The disclosure notes that Polycab maintains a zero-debt position with significant cash and investment liquidity. As per the audited financial statements for the year ended March 31, 2026, the net cash position exceeds ₹4,000 crore, and the net worth stands at ₹11,682 crore.

What the numbers show

A comparison of the disputed amount against the company's disclosed liquidity reveals a stark disparity. The alleged operational debt of ₹2.79 crore represents a negligible fraction of Polycab’s net cash position, which exceeds ₹4,000 crore. This ratio suggests that the immediate financial solvency of the company is not threatened by the specific claim admitted by the NCLT, supporting the company's stance that the issue is primarily a commercial dispute rather than an indicator of distress.

Polycab India Limited has scheduled a series of meetings with institutional investors and analysts for the week of September 22 to September 29, 2026.

The company disclosed the schedule pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The engagements are designed to provide updates on corporate strategy and earnings performance to key market participants.

Meeting Schedule

The upcoming interactions include both group conferences and one-on-one sessions across Mumbai and Hong Kong. The detailed itinerary is as follows:

Disclosure Details

Polycab stated that the meetings will be conducted in person, except where location details were not specified in the filing. The company noted that the schedule is subject to change.

During these sessions, management will refer only to the corporate and earnings presentations hosted on the company website and other publicly available information. No new material information will be disclosed outside of these standard channels.

Manita Carmen A. Gonsalves, Vice President-Legal and Company Secretary at Polycab, signed the disclosure filed with the Bombay Stock Exchange and the National Stock Exchange of India.