Polycab India Q2 FY27 Earnings Call Transcript Released
Polycab India reports record Q2 FY27 revenue and profitability. Consolidated revenue surged 53% YoY to ₹18,000 million (1800 crore), with PAT up 43% YoY to ₹9,900 million (990 crore). EBITDA margins improved to 14.4%. Wires & Cables grew 47% YoY, FMEG by 124% YoY, with FMEG EBIT margins reaching 10.1%. NCLAT stays admission order in Asier Metals case.
The announcement details record financial performance and significant year-on-year growth in key business segments, which has a substantial impact on investor perception and the company's valuation.
The company reported record revenue and profitability, with strong growth across its business segments. Positive commentary on future outlook and successful navigation of legal proceedings contribute to the positive sentiment.
Polycab India Limited has submitted the transcript of its Earnings Conference Call held on October 15, 2026. During the call, the management, including Joint Managing Director Mr. Nikhil Jaisinghani and Chief Financial Officer Mr. Niyant Maru, discussed the company's performance for the second quarter of FY27.
Mr. Jaisinghani highlighted that Polycab achieved its highest ever quarterly and half-yearly revenue and profitability in the first half of FY27. The Wires and Cables business demonstrated robust growth, while the FMEG segment continued its positive trajectory, marking its seventh consecutive profitable quarter. The company's strategic roadmap, Project Spring, is progressing as planned, reinforcing confidence in its execution and long-term growth strategy.
Mr. Maru provided insights into the macroeconomic landscape, noting India's resilience despite global volatility. He emphasized strong domestic demand, healthy investment activity, and infrastructure development as key growth drivers. The company's financial performance was exceptional, with consolidated revenue growing by 53% year-on-year and profit after tax reaching a record ₹9,900 million (990 crore), a 43% increase year-over-year. EBITDA margins expanded sequentially to 14.4%.
The Wires and Cables segment reported a 47% year-on-year revenue growth, with domestic sales up 50%. The FMEG segment achieved a remarkable 124% year-on-year growth, driven by solar products and a strengthening broader FMEG portfolio. EBIT margins in FMEG crossed the double-digit mark for the first time, reaching 10.1%.
The company also addressed the ongoing proceedings with Asier Metals, stating that the National Company Law Appellate Tribunal (NCLAT) has stayed the order of admission. Polycab is confident in its case and does not expect any adverse material impact on its financial or business operations. The management expressed optimism about future growth, focusing on innovation, distribution expansion, and capitalizing on opportunities in infrastructure, energy transition, and exports.
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