Polycab India Limited delivered impressive financial performance in Q3FY26, demonstrating strong operational momentum across its business segments. The company's consolidated results for the quarter ended December 31, 2025, reflect robust demand and effective execution strategies.

Strong Financial Performance

The company's financial metrics showed substantial improvement across all key parameters during Q3FY26:

For the nine months ended December 31, 2025, consolidated revenue reached ₹2,00,193.15 crores compared to ₹1,54,225.15 crores in the corresponding period last year, marking a 29.81% increase. Net profit for the nine-month period stood at ₹19,228.23 crores, up 46.64% from ₹13,111.75 crores.

Segment-wise Performance

The company's diversified business portfolio contributed to the strong overall performance:

The Wires and Cables segment, being the largest contributor, showed exceptional growth of 54.00% year-on-year. The FMCG segment also demonstrated healthy growth of 18.10%, while the EPC segment maintained steady performance with 3.85% growth.

Key Corporate Developments

The Board of Directors approved several significant organizational changes during their meeting held on January 16, 2026:

Leadership Restructuring

Both appointments are subject to shareholder approval. Mr. Bharat A. Jaisinghani holds a Masters degree in Operations Management from the University of Manchester and has completed executive education from Harvard Business School. Mr. Nikhil R. Jaisinghani holds an MBA from Kellogg School of Management, Northwestern University.

Board Appointments

The Board also approved the re-appointment of Mrs. Manju Agarwal as an Independent Director for a second term of two consecutive years, commencing from January 19, 2026, to January 18, 2028, subject to shareholder approval. Mrs. Agarwal brings 34 years of banking experience with State Bank of India in leadership positions.

Operational Highlights

During the nine months ended December 31, 2025, the company allotted 1,12,575 equity shares of ₹10 each to option grantees under the Employee Stock Option Scheme 2018. This increased the paid-up equity share capital from 15,04,25,898 shares to 15,05,38,473 shares.

The company also recognized an incremental impact of ₹200.64 million in employee benefit expenses due to the Government of India's notification of four Labour Codes on November 21, 2025, which consolidated 29 existing labour laws.

Financial Position

The company maintained a strong balance sheet with total consolidated assets of ₹1,89,969.77 crores as of December 31, 2025, compared to ₹1,35,714.13 crores in the previous year. The Wires and Cables segment accounted for ₹1,15,834.50 crores of segment assets, reflecting the business's capital-intensive nature and growth investments.

The financial results were reviewed by the Audit Committee and approved by the Board of Directors, with statutory auditors B S R & Co. LLP expressing an unmodified opinion on the results.

Polycab India Limited delivered exceptional financial performance in the third quarter of FY26, demonstrating strong growth momentum across key business segments. The leading cables and wires manufacturer reported significant increases in both revenue and profitability, reinforcing its market leadership position.

Strong Financial Performance in Q3FY26

The company's consolidated financial results for the quarter ended December 31, 2025, showcased robust operational performance across all metrics:

The company's material costs increased proportionally to ₹57,551.89 crores from ₹38,807.36 crores, while maintaining healthy profit margins. Employee benefits expenses rose to ₹2,369.64 crores compared to ₹1,988.93 crores in the previous year, reflecting business expansion and workforce growth.

Nine-Month Performance Highlights

For the nine months ended December 31, 2025, Polycab demonstrated consistent growth trajectory:

Segment-wise Business Performance

The company's diversified business portfolio showed strong performance across segments:

Wires and Cables Segment

• Q3FY26 Revenue: ₹68,526.29 crores vs ₹44,499.45 crores (Q3FY25)
• Segment Result: ₹8,325.96 crores vs ₹6,079.91 crores
• Nine-month Revenue: ₹1,77,724.07 crores vs ₹1,32,175.66 crores

FMCG Segment

• Q3FY26 Revenue: ₹4,997.77 crores vs ₹4,231.76 crores
• Turned profitable with segment result of ₹138.64 crores vs loss of ₹127.83 crores

EPC Segment

• Q3FY26 Revenue: ₹4,068.97 crores vs ₹3,918.23 crores
• Segment Result: ₹271.84 crores vs ₹340.98 crores

Key Corporate Developments

The Board of Directors approved several important organizational changes during their meeting on January 16, 2026:

Balance Sheet Strength

Polycab's financial position remained robust with total consolidated assets of ₹1,89,969.77 crores as of December 31, 2025, compared to ₹1,35,714.13 crores in the previous year. The company's paid-up equity share capital stood at ₹1,505.38 crores, reflecting the allotment of 1,12,575 equity shares under the Employee Stock Option Scheme 2018.

Regulatory and Compliance Updates

The company recognized an incremental impact of ₹200.64 million in employee benefit expenses due to the Government of India's notification of four Labour Codes on November 21, 2025. This adjustment primarily relates to revised wage definitions affecting gratuity and long-term compensated absences calculations. The financial results received unmodified opinions from statutory auditors B S R & Co. LLP and were approved by the Audit Committee and Board of Directors on January 16, 2026.