Polycab India Q1 FY27 Results & Concall Highlights: Revenue, Margins & Order Book
Published 25 Aug 2026 | Industrial Products | Market Cap: ₹1.4L Cr
Polycab aims to grow at 1.5x to 2x the market growth rate consistently until FY30. Polycab expects continued strong growth, with wires & cables business targeting 1.5x market growth until FY30. - FMEG segment aims to achieve EBITDA margins of 8%-10% by FY30, with current trajectory very positive (71% YoY growth in Q1 FY27). - Export revenue anticipated to exceed 10% of total topline by 2030, driven by expansion into 94 countries and increased traction in U.S.
From Polycab India's Q1 FY27 earnings-call transcript · updated 25 Aug 2026.
Price
₹9,067
Market Cap
₹1.4L Cr
P/E Ratio
47.2
Revenue Rank
Margin Rank
How does Polycab India rank in Industrial Products?
Compare Polycab India against every Industrial Products company this quarter on revenue, margins and earnings-call signals.
Polycab India — Quarterly revenue & net profit
Reported quarterly figures (₹ Cr). Latest: revenue ₹8.9K Cr, net profit ₹786 Cr.
Full financials →📊 Revenue & Sales Performance
Rank 3- →Polycab aims to grow at 1.5x to 2x the market growth rate consistently until FY30.
- →Volume growth target: double digits CAGR over the next several years; full-year FY26 volume growth was 18%.
- →Expects export revenue to exceed 10% of overall topline by 2030, with export growth anticipated to outpace domestic.
- →Anticipates strong demand drivers from power (transmission & distribution), manufacturing, and private sectors.
- →Growing opportunities from mobility (railways, airports, highways), data centers, defense, and EV charging infrastructure.
- →FMEG business targets 8% to 10% EBITDA margins by FY30 with ongoing premium product mix expansion.
- →Solar segment within FMEG expects continued strong growth aligned with government policies for rooftop solar adoption.
- →EPC segment remains healthy with expected sustainable operating margins in high single digits long term.
📈 Profitability & Margins
Rank 3- →Polycab expects continued strong growth, with wires & cables business targeting 1.5x market growth until FY30.
- →FMEG segment aims to achieve EBITDA margins of 8%-10% by FY30, with current trajectory very positive (71% YoY growth in Q1 FY27).
- →Export revenue anticipated to exceed 10% of total topline by 2030, driven by expansion into 94 countries and increased traction in U.S. and Middle East markets.
- →EPC business margins expected to remain in high single digits over the medium to long term.
- →Overall EBITDA margins for wires & cables business are maintained in the 11%-13% range.
- →Management confident of sustainable operating margins and delivery of profitability milestones as per "Project Spring" roadmap.
- →Guidance includes growing at 1.5x to 2x industry growth and progressively enhancing profitability across all segments.
🏗️ Capital Expenditure Plans
Yes- →Capital expenditure during Q1 FY27 was INR 3.2 billion, reflecting commitment to capacity building and future growth.
- →Robust capacity addition plans seen among transformer companies like CG Power, ABB, Siemens, and Hitachi, targeting Transmission & Distribution (T&D) growth.
- →Polycab is investing in expanding its distribution reach, product innovation, and brand building to drive sustainable value creation.
- →Strategic investments are also being made in growth platforms such as Wires & Cables, FMEG business, data centres, defence, EV charging infrastructure, and exports.
- →Ongoing procurement strategies have secured fibre supply for Bharat Net projects for the next 2-3 years, insulating from current price hikes.
- →The company targets continued growth at 1.5x to 2x industry growth and medium-to-long-term margin improvements aligned with Project Spring goals through these investments.
💰 Fundraising & Capital Structure
No information- →The transcript and presentation do not mention any current or planned fundraising through debt or equity.
- →Polycab India Limited reported a strong net cash position of INR 39.9 billion as of the latest quarter.
- →Capital expenditure during the quarter was INR 3.2 billion, signaling ongoing investments funded internally.
- →No specific commentary was provided on raising new debt or equity in the near future.
- →The company emphasized a focus on execution, growth, and capacity building primarily through internal accruals and strong cash flows.
- →Overall, there is no indication or guidance regarding fresh fundraising via debt or equity at this time.
📋 Order Book & Pipeline
Yes- →Polycab India Limited currently has a very healthy export order book, including markets like the U.S., Europe, and Latin America, which is expected to contribute significantly in coming quarters.
- →Middle East exports saw some impact earlier, but momentum is returning with about 20-24% business from Oman, Saudi Arabia, and UAE in Q1.
- →The company's setup for U.S. exports is largely complete with market representatives appointed, leading to a healthy order book and inquiry pipeline.
- →The company expects a sizable pickup in U.S. exports and overall exports in the coming quarters of FY27.
- →On the domestic EPC side, the company has an execution piece of INR 4,500 crores out of an overall INR 8,000 crores contract, with secured fiber supply protecting profitability.
- →Overall, Polycab sees strong demand across sectors leading to a robust order book position.
Key Metrics
Revenue
Margin
Capex
Fundraise
Order Book
Frequently Asked Questions
What were Polycab India Q1 FY27 results?
Polycab aims to grow at 1.5x to 2x the market growth rate consistently until FY30. Polycab expects continued strong growth, with wires & cables business targeting 1.5x market growth until FY30. - FMEG segment aims to achieve EBITDA margins of 8%-10% by FY30, with current trajectory very positive (71% YoY growth in Q1 FY27). - Export revenue anticipated to exceed 10% of total topline by 2030, driven by expansion into 94 countries and increased traction in U.S.
What is Polycab India share price analysis?
Polycab India currently shows a below-average growth signal. The stock trades at a P/E of 47.2 with a market cap of ₹135,097 Cr. Investors should review the full earnings analysis for detailed insights.
Is Polycab India planning capital expenditure?
Capital expenditure during Q1 FY27 was INR 3.2 billion, reflecting commitment to capacity building and future growth.
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This analysis is AI-generated based on publicly available earnings data and concall transcripts. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.