Polycab India Achieves Record ₹224 Billion Revenue in FY25, Beats FY26 Target Early

Polycab India Limited (PIL) announced its financial results for the fourth quarter and full year ending March 31, 2025, posting its highest-ever revenue and profit figures.

FY25 Performance Highlights

• Revenue: ₹2,24,083 million, up 24% compared to last year

• EBITDA: ₹29,602 million, up 19% YoY

• Net Profit (PAT): ₹20,455 million, a 13% YoY increase

Read More, Coforge Q4 FY25 Results: Net Profit Grows 17% YoY, Declares ₹19 Dividend.   

Q4 FY25 Highlights

• Revenue: ₹69,858 million, up 25% YoY

• EBITDA: ₹10,254 million, up 35% YoY

• PAT: ₹7,344 million, up 33% YoY

• PAT Margin: Improved to 10.5%

• EBITDA Margin: Rose to 14.7% due to better performance in FMEG and EPC

Wires & Cables Segment Growth

• Grew 22% YoY in Q4, backed by strong demand from government projects, real estate, and better project execution

• Domestic sales grew 27% YoY, with cables growing faster than wires

• International business saw a temporary dip due to a large order being postponed

• EBIT margins improved by ~140 basis points to 15.1%

Strong Growth in FMEG Business

• Posted 33% YoY growth in Q4

• Fans performed well even with delayed summer; premium product strategy helped

• Lights, switches, and pipes also showed healthy growth

• Achieved break-even in Q4 FY25 after 10 quarters of investment in innovation, branding, and talent

Robust EPC Business

• EPC segment grew 47% YoY in Q4 to ₹6,028 million

• Driven by fast execution of RDSS orders

FY25 Business Highlights

• Surpassed ₹220 billion revenue mark, beating FY26 target a year early

• Wires & Cables revenue grew 18% YoY to ₹1,88,881 million

• Domestic market share rose to 26-27% of India’s organised market

• International sales contributed 6% of total revenue; presence in 84 countries

• FMEG business grew 29% YoY to ₹16,535 million; solar products nearly doubled

• EPC business rose 143% YoY to ₹19,192 million

Financial Strength and Dividend

• Ended FY25 with ₹24.6 billion in net cash, up from ₹21.4 billion last year

• Proposed a ₹35 per share dividend (350% of face value)

• Dividend payout increased to 26.3%, aligned with the company’s Project Spring goal of 30% by FY30

About Polycab India Limited

Polycab India is the country’s largest wires and cables maker and a fast-growing FMEG brand. In FY25, the company crossed ₹224 billion in revenue. It serves customers across India through over 4,300 dealers and 200,000 retail outlets. Polycab has 28 manufacturing units, 15 offices, and 34 warehouses in India and exports to 84 countries. The company employs over 4,100 people and follows strong governance, customer focus, sustainability, and community service values.

As of 2:13 PM IST on May 6, Polycab India share price was trading at ₹5,980.50, up ₹185.50 or 3.20% for the day. The stock opened at ₹5,829.50 and touched an intraday high of ₹6,077.50 and a low of ₹5,725.00. The company has a market capitalisation of ₹90,070 crore, a price-to-earnings (P/E) ratio of 49.03, and a dividend yield of 0.50%. Over the past 52 weeks, the stock has ranged between a low of ₹4,555.00 and a high of ₹7,605.00.

Conclusion

Polycab India’s stellar performance in FY25 highlights its robust execution, strategic investments, and market leadership across segments. With strong financials, growing global reach, and a clear roadmap under Project Leap and Project Spring, the company is well-positioned for sustained growth and shareholder value in the coming years.

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