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.
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Polycab delivered record Q4 and FY26 performance despite Middle East disruptions. FY26 revenue hit INR 285bn milestone with 13.9% EBITDA margins.
MGL delivered volume growth despite West Asia supply disruptions impacting RLNG availability. Management is prioritizing aggressive infrastructure build and volume expansion over short-term margin protection.
Titan delivered robust top-line growth across all segments in Q4 FY26, though margins faced pressure from gold price volatility and aggressive promotional investments.
Northern Arc reports strong FY26 performance with PAT at ₹406 Cr (+33% YoY) and AUM at ₹16,594 Cr (+22% YoY). Strategy focuses on D2C lending expansion.
Pidilite delivered strong Q4 performance with 15.3% volume growth, though management is now navigating sharp raw material inflation from West Asia conflicts through aggressive price hikes.
Route Mobile is pivoting to a platform-centric model after structural declines in high-value International (ILD) SMS volumes. Management is trading revenue size for higher margin quality and AI-led stickiness.
Coromandel International Limited Q4 FY26 results show record fertilizer volumes but compressed margins due to raw material inflation and inadequate subsidy support.
Kalyan Jewellers posted explosive FY26 results with 43% revenue growth and 89% PAT growth, driven by aggressive expansion and Candere's turnaround. However, margin compression from the franchise model remains a structural headwind.
Northern Arc delivered strong FY26 performance with PAT growing 33% YoY to ₹406 Cr, driven by a 59% shift toward direct-to-customer lending and improved NIMs of 9.4%.
Mitsu Chem Plast reported steady FY26 performance with 5.4% income growth to ₹35,084.56 lakhs. Strategy focuses on high-margin hospital furniture and launching Intermediate Bulk Containers (IBC) to improve profitability.
Hyundai India achieves record domestic sales, leveraging SUV momentum and export resilience despite margin headwinds from commodity costs and capacity expansion.
Bank of India reported FY26 Net Profit of ₹10,527 Cr, up 14% YoY. Strategy focuses on RAM (Retail, Agri, MSME) growth and improving asset quality.
Waaree delivered record FY26 results with 84% revenue growth, transitioning to 'Waaree 2.0' through vertical integration into glass, ingots, wafers, and energy storage.
Tata Technologies reported a strong Q4 FY26 with 12.4% revenue growth and 16% EBITDA margin, marking a turning point.
CIE India reported Q1 CY26 consolidated revenue of ₹25,411 Mn (up 16% YoY) and PAT of ₹2,494 Mn (up 21% YoY). Performance driven by strong India growth and currency impacts in Europe.
Tata Technologies reported a Q4 FY26 inflection point with ₹1,572cr revenue. Growth is driven by broad-based Services momentum and significant full-vehicle program wins.
5Paisa Capital reported Q4FY26 total revenue of ₹85.5 crore (up 8% QoQ) and PAT of ₹44.3 crore. Management focused on tech upgrades, AI companion (MCP), and capital deployment from a recent ₹468 crore rights issue.
Vikram Solar achieved record FY26 revenue of ₹4,800cr, up 40% YoY. Management is pivoting heavily toward backward integration to mitigate China-reliant supply chain risks.
CCL Products reported strong revenue growth of 46% for Q4 FY26, driven by significant volume increases and higher green coffee prices. Management remains confident in maintaining 15% volume and EBITDA growth despite global logistical challenges.
Bank of India reported FY26 Net Profit of ₹10,527 Cr, up 14% YoY. Strategy focuses on RAM segment growth (19.11% YoY) and improved asset quality with Net NPA at 0.56%.
Waaree Energies delivered record FY26 results, surpassing EBITDA guidance. Strategy focuses on Waaree 2.0, transitioning from a module manufacturer to a vertically integrated energy player.
Vardhman Textiles reports a recovery driven by normalized cotton spreads and robust yarn demand from China, following a difficult period caused by high domestic cotton prices and US tariffs on downstream exporters.
Arvind Ltd acquires 61% stake in Dalco GFT for $136M to build a global Advanced Materials footprint. The deal pivots from a PE-led efficiency focus to an aggressive growth-led model in US automotive and geotextile markets.
CAGL reports normalized performance in Q4 FY26 with PAT of INR 340 Cr. Focused on rural inclusive financing with a shift towards retail finance (18.1% of AUM).
Welspun Specialty Solutions reported FY26 total income growth of 21% YoY to ₹904cr, driven by a 37% increase in total product sales volumes despite planned maintenance shutdowns.
CreditAccess Grameen reported Q4 FY26 PAT of INR 340 Cr (+619% YoY) and FY26 PAT of INR 778 Cr (+46.3% YoY). AUM grew 14% YoY to INR 29,590 Cr.
Innova Captab delivered record FY26 performance with 31% revenue growth, driven by CDMO expansion and the Jammu facility ramp-up despite near-term margin pressure from product mix shifts.
Indus Towers reported a robust FY26 with Q4 revenue of ₹81 billion (up 4.8% YoY) and EBITDA of ₹44.6 billion. Board recommended a final dividend of ₹14 per share.
TMB reported strong FY26 results with Net Profit reaching ₹1,338 Cr and NIM at 3.98%. The bank is undergoing a leadership-led transformation focused on digital expansion and MSME growth.
ESAF Small Finance Bank reports Q4 FY26 results with a shift toward secured lending (61% of mix) and improved profitability (PAT INR 24cr).