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Earnings Call

Polycab India Earnings Call: Key Takeaways

Polycab delivered record Q4 and FY26 performance despite Middle East disruptions. FY26 revenue hit INR 285bn milestone with 13.9% EBITDA margins.

Why this was an Alfa AlertNot a filter event. Results and margins were largely in line with long-term 'Project Spring' guidance targets.
Highlights
Revenue growthFY26 grew 29% YoY; Q4 grew 27% YoY.
MarginsFY26 EBITDA margin expanded to 13.9%; Q4 EBIT margin 13.1%.
Order bookHealthy order book; government infra spending remains a steady anchor.
Demand visibilityStrong 24-36 month outlook driven by power and real estate capex.
Management confidenceConfident in 1.5x-2x industry growth and structural domestic demand.

Growth

FY26 revenue up 29%, PAT up 32%. Q4 revenue grew 27% YoY; PAT up 7% to INR 7.9bn.

Outlook

Project Spring targets INR 60-80bn capex over 5 years; aiming for >10% export contribution by FY30.

Risks

Geopolitical volatility in Middle East impacting exports and trade sentiment; sharp rise in crude and PVC prices.

Source

Earnings Call filed with BSE, NSE: POLYCAB. Summary written with AI assistance from the document.

Read the document ↗

Polycab India Ltd: key numbers

Share price
₹8,114.00
Market cap
₹1,22,286 Cr
Revenue (annual)
₹28,884 Cr
Net profit (annual)
₹2,672 Cr
P/E (TTM)
38.8×Sector 44.3×
Promoter holding
61.44%-0.02% QoQ
FII holding
18.06%Current quarter

Reference market data from a third-party provider, updated daily. Not a valuation or a recommendation.

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