Polycab India Ltd.Revenue +53%, record PAT ₹990 Cr

Polycab India reported its highest-ever quarterly revenue and profit for Q2 FY27, with consolidated revenue up 53% year-on-year and EBITDA up 39%.

EBITDA margin rose more than 50 basis points sequentially to 14.4%. Profit after tax reached a record ₹990 crore, up 43%, a 10.0% margin. Net cash was ₹4,520 crore and the working capital cycle fell to about 11 days on higher payable days from letters of credit. Wires and cables revenue grew 47% with domestic growth of 50% and volumes up mid- to high single digits; segment EBIT margin was 14.2%, and exports grew 17% year-on-year and 85% sequentially.

The FMEG business grew 124%, driven by solar inverters, with an EBIT margin of 10.1%, above the 8% to 10% long-term target. EPC revenue was ₹617 crore at a 7.2% margin. For the first half, revenue grew 46% to over ₹18,000 crore. Management kept its long-term wires and cables EBITDA margin guidance at 11% to 13%, said the EHV plant will commission in FY28, and said an NCLAT order on the Asier Metals insolvency proceeding is reserved, with no material impact expected.