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.

Polycab India Limited delivered impressive financial performance in Q3FY26, demonstrating strong operational execution and market expansion. The electrical equipment manufacturer reported consolidated revenue from operations of ₹76,361.28 crores for the quarter ended December 31, 2025, representing a substantial 46.2% increase from ₹52,260.62 crores in the same quarter of the previous fiscal year.

Financial Performance Highlights

The company's profitability metrics showed robust growth across multiple parameters. Net profit attributable to equity shareholders reached ₹6,216.90 crores, marking a 35.7% year-on-year increase from ₹4,575.57 crores in Q3FY25. Total comprehensive income for the quarter stood at ₹6,223.20 crores compared to ₹4,570.01 crores in the corresponding period last year.

Nine-Month Performance

For the nine-month period ended December 31, 2025, Polycab maintained strong momentum with consolidated revenue from operations reaching ₹2,00,193.15 crores, up 29.8% from ₹1,54,225.15 crores in the corresponding period of FY25. Net profit for the nine-month period grew 46.9% to ₹18,992.67 crores from ₹12,933.22 crores in the previous year.

Segment-wise Performance

The company's core Wires and Cables segment continued to drive growth, generating revenue of ₹68,526.29 crores in Q3FY26 compared to ₹44,499.45 crores in Q3FY25. The FMCG segment contributed ₹4,997.77 crores while the EPC segment added ₹4,068.97 crores to the overall revenue mix.

Leadership Changes

The Board of Directors approved significant organizational changes during their meeting held on January 16, 2026. The company redesignated Mr. Bharat A. Jaisinghani and Mr. Nikhil R. Jaisinghani from Executive Directors to Joint Managing Directors, effective immediately for the remaining period of their existing tenure until May 12, 2026. Both executives will be further appointed as Joint Managing Directors for an additional five-year term from May 13, 2026, to May 12, 2031, subject to shareholder approval.

Additionally, the board 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.

Operational Developments

During the nine-month period, the company allotted 1,12,575 equity shares of ₹10 each to option grantees under the Employee Stock Option Scheme 2018, increasing 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 related to gratuity and long-term compensated absences due to revised wage definitions under the newly notified Labour Codes.

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.