The Board of Directors of Polycab India , at its meeting held on May 06, 2026, approved the audited standalone and consolidated financial results for the quarter and year ended March 31, 2026. The company delivered its highest-ever quarterly and yearly revenue and profitability, with consolidated revenues surpassing ₹285 billion for the first time. The results carry an unmodified opinion from statutory auditors B S R & Co. LLP. EBITDA margins remained within the guided range of 12%–14%, while the EPC business reported a 15% yearly decline in revenues attributed to project timing issues.

Commenting on the performance, Mr. Inder T. Jaisinghani, Chairman and Managing Director, said: "FY26 has been a defining year for our company, marked by our strong execution and ability to capture domestic market share, which increased by approximately 3-4% during the year. This growth reflects the success of Project Spring, which has structurally strengthened our competitive position and enabled us to outperform the broader industry. We closed the year on a high note with a robust Q4 FY26 performance, delivering 27% YoY growth in consolidated revenue, driven by sustained demand across our Wires & Cables and FMEG segments. Despite a challenging external environment, we achieved our highest-ever quarterly PAT of approximately ₹7.9 billion, underscoring the resilience and strength of our operating model. Overall, FY26 stands out as a landmark year, with record revenues, EBITDA, and profitability, reinforcing our leadership in the Indian electrical industry."

Consolidated Financial Performance

Polycab India delivered a robust financial performance for FY26 on a consolidated basis. Revenue from operations grew to ₹2,88,837.92 million (up 29% YoY) from ₹2,24,083.13 million in FY25. EBITDA for FY26 grew 35% YoY to ₹40,057 million from ₹29,602 million in FY25, with EBITDA margins at 13.9%. Net profit for the year rose 32% YoY to ₹27,084.27 million from ₹20,455.37 million in FY25, with PAT margins at 9.4%. For Q4 FY26, revenue from operations stood at ₹88,645 million (up 27% YoY), EBITDA grew 13% YoY to ₹11,613 million with margins at 13.1%, and PAT grew 7% YoY to ₹7,856 million with PAT margins at 8.9%.

The following table summarises the key consolidated financial metrics:

Segment-Wise Performance

Across its three business segments on a consolidated basis, the Wires and Cables segment remained the dominant revenue contributor. For FY26, W&C business revenues grew 33% YoY to ₹2,51,789 million from ₹1,88,881 million in FY25, with strong growth across both distribution and institutional businesses. The international business contributed 5.4% of consolidated revenue for FY26. The FMEG segment reported revenue of ₹20,693 million for FY26 (up 25% YoY from ₹16,535 million in FY25), with solar products emerging as the standout performer, delivering nearly 2x growth YoY and becoming the largest category within the FMEG portfolio. The EPC segment recorded a 13% YoY decline for FY26, with EBIT margins at 9.9%.

For Q4 FY26, the W&C segment delivered 30% YoY growth, with the international business recording an 18% YoY increase and contributing 4.4% to consolidated revenues. The FMEG segment delivered 47% YoY growth for the quarter. The EPC business revenues declined 15% YoY for the quarter due to project timing, with EBIT margins at 7.6%.

Key Highlights and Strategic Initiatives

The company reported market share gains in the domestic organised Wires and Cables industry, increasing to 30-31% in FY26 from 26-27% in FY25, reflecting the success of Project Spring. Capex spends for FY26 were ₹14.8 billion, a 54% increase from the previous year. The net cash position improved significantly to ₹41.9 billion as of March 31, 2026, against ₹24.6 billion in the previous year.

Dividend Recommendation

The Board has recommended a final dividend of ₹47 per equity share of face value ₹10 each for FY26, representing a payout of 470% and a dividend payout ratio of 27.2%, up from 26.3% in the prior year — in line with Project Spring's goal of increasing dividend payout to above 30% by FY30. The dividend is subject to approval of members at the ensuing Annual General Meeting and, if approved, will be paid within 30 days from the date of the Annual General Meeting. The book closure and record date for dividend purposes will be intimated in due course.

Standalone Financial Highlights

On a standalone basis, Polycab India reported revenue from operations of ₹2,81,851.77 million for FY26, compared to ₹2,20,515.45 million in FY25. Total income for the year stood at ₹2,84,124.65 million versus ₹2,22,589.40 million in FY25. Profit before tax for FY26 was ₹34,684.15 million compared to ₹26,199.73 million in FY25, and net profit for the year was ₹26,009.47 million against ₹19,865.74 million in the prior year. Basic earnings per share on a standalone basis stood at ₹172.81 for FY26, compared to ₹132.12 in FY25.

Corporate Governance and Organisational Changes

The Board approved several key governance and management decisions at its May 06, 2026 meeting, including the re-appointment of Ernst & Young LLP as Internal Auditors and R. Nanabhoy & Co., Cost Accountants, as Cost Auditors for FY2026-27. Senior management redesignations included Mr. Ishwinder Khurana as Chief Executive Officer – B2C and Mr. Hetal Shah as Chief Executive Officer – EPC. The tenure of Mr. Niyant Maru as Chief Financial Officer has been extended till April 16, 2027.

Polycab India Limited has announced the extension of tenure of Mr. Niyant Maru as its Chief Financial Officer (Whole-Time Key Managerial Personnel). The Board of Directors approved this extension at its meeting held on Wednesday, May 06, 2026, in continuation of an earlier intimation dated October 17, 2025.

CFO Tenure Extension Details

The extension was approved pursuant to the recommendation of the Nomination and Remuneration Committee and the approval of the Audit Committee. The Board has extended Mr. Niyant Maru's tenure as CFO with effect from July 17, 2026 up to April 16, 2027. The disclosure was made to BSE Limited and the National Stock Exchange of India Limited under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The key details of the regulatory disclosure, as provided in Annexure-2 filed with the exchanges, are summarised below:

Regulatory Compliance

The intimation was submitted in accordance with SEBI Circular No. SEBI/HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026. The filing was signed by Manita Carmen A. Gonsalves, Vice President-Legal & Company Secretary (Membership No.: A18321), on behalf of Polycab India Limited. The company has also stated that the information will be made available on its official website at www.polycab.com .