Polycab Q1 Net Profit Rises 33% YoY

Key Financial Figures - Consolidated Results

Income Statement (₹ million):

Revenue from operations: ₹82,097.32 (Q1 FY27) vs ₹59,059.76 (Q1 FY26) - 39.0% YoY growth
Other income: ₹1,049.15 (Q1 FY27) vs ₹799.45 (Q1 FY26)
Total income: ₹83,146.47 (Q1 FY27) vs ₹59,859.21 (Q1 FY26)

Expenses (₹ million):

Cost of materials consumed: ₹65,123.50
Purchases of stock-in-trade: ₹1,221.14
Changes in inventories: (₹5,626.53)
Project bought outs and subcontracting cost: ₹1,801.97
Employee benefits expense: ₹2,614.75
Finance costs: ₹800.21
Depreciation and amortization: ₹1,028.70
Advertisement and sales promotion: ₹328.24
Freight and forwarding: ₹1,033.97
Other expenses: ₹4,238.29

Profitability (₹ million):

Profit before tax: ₹10,582.23 (Q1 FY27) vs ₹8,005.87 (Q1 FY26)
Tax expense: ₹2,615.69
Profit for the period: ₹7,966.54 (Q1 FY27) vs ₹5,996.96 (Q1 FY26) - 32.8% YoY growth
Other comprehensive income: (₹110.80)
Total comprehensive income: ₹7,884.24

Earnings Per Share:

Basic EPS: ₹52.09 (Q1 FY27) vs ₹39.36 (Q1 FY26)
Diluted EPS: ₹51.94 (Q1 FY27) vs ₹39.21 (Q1 FY26)

Capital Structure:

Paid-up equity share capital: ₹1,506.35 million (Face value ₹10 per share)
Other equity: ₹118,580.25 million

Segment Performance - Consolidated (₹ million)

Revenue by Segment:

Wires and Cables: ₹72,017.85 (87.7% of total)
FMEG: ₹7,611.53 (9.3% of total)
EPC: ₹3,077.38 (3.7% of total)

Segment Results:

Wires and Cables: ₹9,593.85 profit
FMEG: ₹606.33 profit
EPC: ₹338.26 profit

Key Financial Figures - Standalone Results

Income Statement (₹ million):

Revenue from operations: ₹80,344.93
Other income: ₹1,026.46
Total income: ₹81,371.39

Profitability (₹ million):

Profit before tax: ₹10,176.98
Tax expense: ₹2,514.23
Profit for the period: ₹7,662.75
Total comprehensive income: ₹7,579.39

Earnings Per Share:

Basic EPS: ₹50.89
Diluted EPS: ₹50.75

Corporate Actions

ESOP Allotment: During the quarter ended June 30, 2026, the company allotted 84,545 equity shares of ₹10 each to option grantees under the Employee Stock Option Scheme 2018. This increased the paid-up equity share capital from 150,550,508 equity shares to 150,635,053 equity shares.

Dividend Payment: The Board had proposed a final dividend of ₹47 per equity share on May 6, 2026, which was approved by shareholders at the annual general meeting held on June 30, 2026. The company paid a final dividend of ₹7,079.85 million on June 30, 2026.

Regulatory and Compliance Matters

Environmental Regulations: The Ministry of Environment, Forest and Climate Change notified the Hazardous and Other Wastes (Management and Transboundary Movement) Amendment Rules, 2025, effective from April 1, 2026. These rules impose Extended Producer Responsibility (EPR) obligations on cable and wire manufacturers for recycling non-ferrous metal scrap. However, the EPR registration portal is still under development by CPCB, and detailed implementation framework is not yet available. The company is unable to reliably estimate the potential impact of these rules.

Amalgamation: The company completed amalgamation with Uniglobus Electricals and Electronics Private Limited (wholly owned subsidiary) with appointed date of April 1, 2025, approved by NCLT Ahmedabad Bench on February 27, 2026. This resulted in restatement of Q1 FY26 figures with minimal impact (0.30-0.50% variation).

Subsidiaries and Joint Ventures

The consolidated financial results include:

8 subsidiaries: Dowells Cable Accessories, Tirupati Reels, Steel Matrix, Polycab USA, Polycab Australia, Polycab Electricals & Electronics, Polycab Support Force, Polycon Infra Projects
1 joint venture: Techno Electromech Private Limited

The auditors did not review interim financial statements of 8 subsidiaries, which contributed revenues of ₹1,969.53 million and net profit of ₹307.53 million for the quarter.

Audit and Approval

The financial results were reviewed by the Audit Committee and approved by the Board of Directors on July 16, 2026. Statutory auditors B S R & Co. LLP expressed an unmodified opinion on the results.