Key Financial Figures (Consolidated)
Quarterly Performance (Q2 FY27 vs Q2 FY26 vs Q1 FY27)
- Revenue from Operations: ₹98,989.01 million (Q2 FY27) vs ₹64,772.11 million (Q2 FY26) vs ₹82,097.32 million (Q1 FY27)
- Other Income: ₹883.67 million (Q2 FY27) vs ₹454.33 million (Q2 FY26) vs ₹1,049.15 million (Q1 FY27)
- Total Income: ₹99,872.68 million (Q2 FY27) vs ₹65,226.44 million (Q2 FY26) vs ₹83,146.47 million (Q1 FY27)
- Total Expenses: ₹86,810.48 million (Q2 FY27) vs ₹56,016.43 million (Q2 FY26) vs ₹72,564.24 million (Q1 FY27)
- Profit Before Tax (PBT): ₹13,062.20 million (Q2 FY27) vs ₹9,210.01 million (Q2 FY26) vs ₹10,582.23 million (Q1 FY27)
- Tax Expense: ₹3,162.23 million (Q2 FY27) vs ₹2,280.42 million (Q2 FY26) vs ₹2,615.69 million (Q1 FY27)
- Profit for the Period (Net Profit): ₹9,899.97 million (Q2 FY27) vs ₹6,929.59 million (Q2 FY26) vs ₹7,966.54 million (Q1 FY27)
- Total Comprehensive Income: ₹9,949.83 million (Q2 FY27) vs ₹6,955.36 million (Q2 FY26) vs ₹7,884.24 million (Q1 FY27)
Half-Yearly Performance (H1 FY27 vs H1 FY26)
- Revenue from Operations: ₹181,086.33 million (H1 FY27) vs ₹123,831.87 million (H1 FY26)
- Profit for the Period (Net Profit): ₹17,866.51 million (H1 FY27) vs ₹12,926.55 million (H1 FY26)
- Total Comprehensive Income: ₹17,834.07 million (H1 FY27) vs ₹12,857.89 million (H1 FY26)
Earnings Per Share (EPS)
- Basic EPS (₹): 64.87 (Q2 FY27) vs 45.54 (Q2 FY26) vs 52.09 (Q1 FY27)
- Diluted EPS (₹): 64.78 (Q2 FY27) vs 45.46 (Q2 FY26) vs 51.94 (Q1 FY27)
- Basic EPS (₹) for H1: 116.97 (H1 FY27) vs 84.90 (H1 FY26)
Key Financial Figures (Standalone)
Quarterly Performance (Q2 FY27 vs Q2 FY26 vs Q1 FY27)
- Revenue from Operations: ₹98,396.62 million (Q2 FY27) vs ₹63,559.21 million (Q2 FY26) vs ₹80,344.93 million (Q1 FY27)
- Profit Before Tax (PBT): ₹12,741.23 million (Q2 FY27) vs ₹8,916.73 million (Q2 FY26) vs ₹10,176.98 million (Q1 FY27)
- Profit for the Period (Net Profit): ₹9,651.73 million (Q2 FY27) vs ₹6,710.23 million (Q2 FY26) vs ₹7,662.75 million (Q1 FY27)
- Basic EPS (₹): 64.06 (Q2 FY27) vs 44.58 (Q2 FY26) vs 50.89 (Q1 FY27)
Segment Performance (Consolidated - Q2 FY27)
- Wires and Cables Revenue: ₹83,768.41 million; Segment Result: ₹11,887.42 million
- FMEG Revenue: ₹9,931.13 million; Segment Result: ₹1,006.04 million
- EPC Revenue: ₹6,170.81 million; Segment Result: ₹443.94 million
Capital Structure
- Paid-up Equity Share Capital (Face Value ₹10): Increased to ₹1,506.92 million as of September 30, 2026, from ₹1,505.51 million as of March 31, 2026.
- Other Equity (Consolidated): ₹129,434.09 million as of September 30, 2026 (₹118,580.25 million as of March 31, 2026).
- Other Equity (Standalone): ₹127,482.60 million as of September 30, 2026 (₹116,936.48 million as of March 31, 2026).
Capital Structure Impact
- The company allotted 141,080 equity shares of ₹10 each to option grantees upon exercise of options under the Employee Stock Option Scheme (ESOS) 2018.
- This increased the paid-up equity share capital from 150,550,508 shares to 150,691,588 shares.
- The dilution impact is minimal.
Subsidiaries and Joint Venture
The Consolidated Financial Results include the following entities:
1. Dowells Cable Accessories Private Limited (Subsidiary)
2. Tirupati Reels Private Limited (Subsidiary)
3. Steel Matrix Private Limited (Wholly Owned Subsidiary)
4. Polycab USA LLC (Wholly Owned Subsidiary)
5. Polycab Australia Pty Ltd (Wholly Owned Subsidiary)
6. Polycab Electricals & Electronics Private Limited (Wholly Owned Subsidiary)
7. Polycab Support Force Private Limited (Wholly Owned Subsidiary)
8. Polycon Infra Projects Private Limited (Wholly Owned Subsidiary)
9. Techno Electromech Private Limited (Joint Venture)
The auditors, B S R & Co. LLP, did not review the interim financial statements of eight subsidiaries, which had total assets of ₹8,821.02 million and total revenues of ₹2,619.84 million for Q2 FY27. They relied on the reports of other auditors for these entities.
Legal and Regulatory Matters
1. NCLT/NCLAT Case
- The National Company Law Tribunal (NCLT), Ahmedabad Bench, admitted a petition under Section 9 of the Insolvency and Bankruptcy Code, 2016, on October 7, 2026, concerning an alleged operational debt of ₹27.9 million.
- The company filed an appeal with the National Company Law Appellate Tribunal (NCLAT), Principal Bench, New Delhi.
- The NCLAT, via its order dated October 9, 2026, stayed the NCLT order.
- The company, based on legal advice, believes it has a strong case and expects no material impact on its financial position or operations. The matter is sub-judice.
2. Environmental Regulations (EPR)
- The Ministry of Environment, Forest and Climate Change notified the Hazardous and Other Wastes (Management and Transboundary Movement) Amendment Rules, 2025, effective April 1, 2026.
- These rules impose Extended Producer Responsibility (EPR) obligations on cable and wire manufacturers for recycling non-ferrous metal scrap.
- Fulfillment requires purchasing EPR certificates via a Centralized Online Portal.
- The portal is under development by the Central Pollution Control Board (CPCB), and the detailed implementation framework is not yet notified.
- The company is currently unable to reliably estimate the potential financial impact of these rules.
Restatement of Prior Period Numbers
- The amalgamation of Uniglobus Electricals and Electronics Private Limited (UEEPL), a wholly-owned subsidiary, with the company was approved by the NCLT, Ahmedabad Bench, on February 27, 2026, with an appointed date of April 1, 2025.
- Consequently, the standalone financial results for the quarter and half year ended September 30, 2025, have been restated.
- The impact of the restatement was minimal: Total Income for Q2 FY25 increased by 0.19%, while Profit Before Tax decreased by 0.51%.
Auditor's Review
- The statutory auditors, B S R & Co. LLP, have issued an unmodified limited review report on both the standalone and consolidated financial results.
- They concluded that nothing has come to their attention to believe that the statements contain any material misstatement.
Approval and Website Availability
- The financial results were reviewed by the Audit Committee and approved by the Board of Directors on October 15, 2026.
- The results are available on the company's website at www.polycab.com.
#Tags: #PolycabIndia #Q2Results #SEBIDisclosure #RegulatoryCompliance #FinancialUpdate #Positive