Financial Performance Overview

Polycab India Limited reported exceptional financial results for FY 2025-26, achieving record revenue of ₹288,838 million with 29% YoY growth and profit after tax of ₹27,084 million. Standalone revenue reached ₹281,852 million with 28% growth, while consolidated performance showed strong momentum across all business segments.

Business Segment Performance

Wires & Cables remained the dominant segment with ₹252 billion revenue (33% growth), contributing 87% of total sales and maintaining 30-31% market share in the organized Indian market. FMEG segment turned profitable with ₹20,693 million revenue (25% growth) and 2.7% EBIT margin. EPC business delivered ₹16,665 million revenue with 9.9% EBIT margin. Exports grew 17% to ₹15,695 million despite Middle East tensions, with presence in 94 countries.

Corporate Actions and Governance

The Board recommended a final dividend of ₹47 per equity share (470%) for FY26, subject to shareholder approval at the 30th AGM scheduled for June 30, 2026. Shareholders approved multiple director reappointments and redesignations via postal ballot with overwhelming support exceeding 99%. Key management changes included the appointment of Niyant Maru as CFO and redesignation of Bharat and Nikhil Jaisinghani as Joint Managing Directors.

Strategic Initiatives and Capital Allocation

Project Spring, the 5-year transformation strategy until FY 2029-30, focuses on growing W&C at 1.5x industry rate, FMEG at 1.5-2x industry rate targeting 8-10% EBITDA margins, and increasing export contribution to over 10%. The company committed ₹60-80 billion capex investment over 5 years, with FY26 capex of ₹14.8 billion being the highest ever. Net cash position stood strong at ₹41,940 million.

Subsidiary Updates and Restructuring

The company completed the amalgamation of Uniglobus Electricals and Electronics Private Limited effective April 1, 2025, as sanctioned by NCLT Ahmedabad. New subsidiary Polycon Infra Projects Private Limited was incorporated on April 24, 2026 to undertake EPC projects. Subsidiaries collectively contributed approximately 2.6% to consolidated turnover.

ESG Performance and Commitments

Environmental initiatives included 18.3% renewable electricity consumption (target: 50% by 2030), 7.1 MTCO2e/₹crore emission intensity, and Zero Waste to Landfill target by 2030. Social initiatives impacted 0.507 million lives cumulatively (target: 1 million by 2030) with 5.3% women's representation in senior leadership (target: 15% by 2030). CSR spending of ₹444.42 million exceeded the mandated obligation of ₹440.31 million.

Compliance and Assurance

The Integrated Annual Report was prepared in compliance with SEBI LODR Regulations, Companies Act, Integrated Reporting Framework, GRI Standards, and BRSR requirements. Non-financial information was independently assured by TUV India Pvt. Ltd. The company maintained CRISIL AAA/Stable and IND AAA/Stable credit ratings with no material regulatory penalties imposed during the year.

AGM and Voting Process

The 30th Annual General Meeting will be held on June 30, 2026 via Video Conferencing/OAVM. Remote e-voting through NSDL platform will be available from June 27-29, 2026. Key agenda items include adoption of financial statements, dividend declaration, director reappointments, and cost auditor remuneration ratification.