Polycab Share Price Hits Record High, Surges 21% in 1 Month on Strong Demand

Polycab India share price (NSE: POLYCAB) touched a new record high of ₹8,132.50 in intraday trade, gaining about 2% even as the broader market remained weak. At the same time, the BSE Sensex was down nearly 1%.

Over the past 1 month, the stock has rallied 21%, clearly outperforming the benchmark index.

What Is Polycab Share Price Driving the Rally?

The company’s management highlighted signs of recovery in consumption demand during its January earnings call. Improving demand is expected to support a revival in private capital expenditure (capex), along with continued government spending.

Supportive monetary policy and the positive impact of GST rate cuts are also helping boost investment and consumption trends.

Polycab Q3FY26 Performance

For the quarter ended December 31, 2025, Polycab reported:

• 46% year-on-year growth in consolidated revenue
• 53% YoY growth in the Wires & Cables (W&C) segment
• 59% YoY growth in domestic W&C business
• Nearly 40% volume growth in domestic W&C

The growth was supported by strong demand and higher copper prices. Wires performed better than cables due to pre-stocking by distributors amid rising copper prices. Institutional cable sales also grew faster than channel sales due to strong project demand.

Management expects strong momentum to continue in Q4, which is traditionally the company’s strongest quarter. While the long-term W&C EBITDA margin guidance is 11–13%, near-term margins could remain between 12–14%.

The Fast Moving Electrical Goods (FMEG) segment also posted its fourth consecutive quarter of positive margins, with a long-term margin target of 8–10% by FY30.

Read More: NSE Unveils Nanosecond Trading Speeds, Aiming for 100 Million Trades Per Second! 

Conclusion

Polycab’s strong earnings, rising demand in wires and cables, and improving capex outlook have driven the stock to record highs. 

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