Polycab India
Polycab India Q4 FY26 earnings call: Revenue & Margins
Q4 FY26 earnings call: what management guided on revenue, margins and order book.
The short version
Polycab aims to grow at 1.5x to 2x the industry growth rate in the Wires & Cables segment, achieving around 18% volume growth in FY26, surpassing market growth of 11-12%. Polycab expects volume growth to be around 1.5x GDP growth, with FY26 volume growth at 18%, outpacing the industry estimated at 11-12%.
From Polycab India's Q4 FY26 earnings-call transcript · updated 23 Aug 2026.
Revenue & Sales Performance
- Polycab aims to grow at 1.5x to 2x the industry growth rate in the Wires & Cables segment, achieving around 18% volume growth in FY26, surpassing market growth of 11-12%.
- Revenue growth for the full year was around 30%, driven by strong volume and price hikes.
- Exports, currently contributing 5.4% of topline, are targeted to reach 10% by FY30, with emphasis on markets like the U.S., EU, and South America.
- In FMEG, the solar business delivers 2x growth year-on-year, driven by government schemes, contributing significantly to the segment.
- Capex focus remains on expanding Cable & Wire capacity (90% of capex), with expected EHV capacity coming online by end calendar year, contributing revenue from FY28.
2 more points management made on revenue & sales performance
Profitability & Margins
See what Polycab India said on profitability & margins — free account, 30 seconds.
Capital Expenditure Plans
- FY27 capex focus: Around 90% on Cable & Wire capacity expansion, 5% on backward integration, and 3-4% on FMEG expansion; mainly fungible capacities except EHV.
- EHV capacity: On track, expected commissioning by end of calendar year; revenue contribution anticipated from FY28.
- Project Spring guidance: Total capex target INR 60-80 billion over next 5 years until FY30.
- FY26 capex: INR 14.8 billion (INR 1,500 crores), strong investment aligning with growth plans.
2 more points management made on capital expenditure plans
Top-ranked in Industrial Products
Ranked on what management guided this quarter
Rank buckets describe management commentary on revenue and margin. Not investment advice, and not a forecast of returns.
Fundraising & Capital Structure
See what Polycab India said on fundraising & capital structure — free account, 30 seconds.
Order Book & Pipeline
- The transcript provided from the Polycab India Limited filing does not explicitly mention the current or expected orderbook or pending orders figures.
- However, the company communicated confidence in strong demand outlook across segments like power (T&D), renewable capacity additions, and infrastructure sectors.
- They highlighted capacity expansions underway with capex plans and capacity utilization around mid-70% to 75%, indicating preparedness for demand growth.
- Institutional sales contribute around 10-14% of Cable & Wire business, with growth expected in exports, especially in the US, EU, and South America.
2 more points management made on order book & pipeline
Polycab India — Quarterly revenue & net profit
Reported quarterly figures (₹ Cr). Latest: revenue ₹8.9K Cr, net profit ₹786 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.
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What Polycab India Ltd's management said in earlier quarters
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Frequently Asked Questions
What were Polycab India Q4 FY26 results?
Polycab aims to grow at 1.5x to 2x the industry growth rate in the Wires & Cables segment, achieving around 18% volume growth in FY26, surpassing market growth of 11-12%. Polycab expects volume growth to be around 1.5x GDP growth, with FY26 volume growth at 18%, outpacing the industry estimated at 11-12%.
What is Polycab India share price analysis?
Polycab India currently shows a neutral. 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?
FY27 capex focus: Around 90% on Cable & Wire capacity expansion, 5% on backward integration, and 3-4% on FMEG expansion; mainly fungible capacities except EHV.
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This analysis is AI-generated based on publicly available earnings data and the company's earnings call transcript. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.