Polycab Q3FY26 Earnings Results: Revenue Jumps 46% YoY, PAT Rises 36% to ₹6,302 Mn

Polycab India Limited announced its best-ever performance for both the third quarter and 9 months ended December 31, 2025. The company reported strong growth in revenue, EBITDA and profit, supported by healthy demand and disciplined execution.

Polycab Q3 FY26 Financial Highlights

In the third quarter, Polycab’s revenue surged 46% year-on-year to ₹76,361 million. EBITDA increased 34% YoY to ₹9,661 million, while profit after tax (PAT) rose 36% YoY to ₹6,302 million.

EBITDA margin for the quarter stood at 12.7%, and PAT margin was 8.3%.

Polycab Segment-wise Q3 Performance

The Wires & Cables (W&C) business delivered 53% YoY growth, led by strong domestic demand and market share gains. Wires outperformed cables, while institutional sales grew faster than channel sales. International business contributed around 6% of total revenue.

The FMEG segment grew 17% YoY, driven mainly by the solar products category. Profitability remained stable despite higher spending on brand building.

The EPC business reported revenue of ₹4,069 million, up 4% YoY, with EBIT margins at 6.7%.

Strong 9-Month Performance (9M FY26)

For the nine-month period, Polycab crossed a major milestone with revenue exceeding ₹200 billion for the first time.

• Revenue: ₹2,00,193 million, up 30% YoY
• EBITDA: ₹28,444 million, up 47% YoY, with margins at 14.2%
• PAT: ₹19,228 million, up 47% YoY, with a margin of 9.6%

The W&C business grew 35% YoY, FMEG rose 16% YoY, while the EPC segment saw a decline during the period.

Management Commentary

Chairman and Managing Director Mr. Inder T. Jaisinghani said Q3 was a record-breaking quarter, driven by strong execution in the W&C business and continued momentum in FMEG. He added that disciplined execution under Project Spring and early signs of recovery in private capex support a positive growth outlook.

Balance Sheet Strength

As of December 31, 2025, Polycab’s net cash position stood at ₹30.3 billion, up sharply from ₹17.1 billion in the same period last year, reflecting strong cash generation.

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Polycab Share Price Movement

As of January 16, 2026, Polycab India share price (NSE: POLYCAB) closed at ₹7,049.50, declining 3.74% or ₹274 during the session. The stock opened at ₹7,255, touched an intraday high of ₹7,359, and a low of ₹7,019.50. The stock offers a dividend yield of 0.50%, with a quarterly dividend of ₹8.81 per share. Over the past year, the share price has moved between a 52-week high of ₹7,948 and a 52-week low of ₹4,555.

Conclusion

Polycab delivered its strongest-ever Q3 and nine-month performance, supported by robust demand, market share gains and execution discipline. With a solid balance sheet and healthy growth across key segments, the company remains well-positioned for sustained long-term growth.

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