Polycab India Limited has informed the Exchange about Transcript
POLYCAB · price
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Polycab reported its highest-ever Q1 revenue and profitability, with consolidated revenue up 26% YoY led by the Wires & Cables business. EBITDA grew 47% YoY on a 210 bps margin expansion to 14.5%, while PAT jumped 49% YoY to ~₹6 billion (10.2% margin). The Wires & Cables segment grew 31% YoY with 25%+ volume growth, FMEG grew 18% YoY and turned profitable for a second consecutive quarter, and solar revenue more than doubled. Management reaffirmed Project Spring targets, including FMEG EBITDA margins of 8–10% by FY30, capex of ₹1,200–1,600 crore annually, and a long-term C&W EBITDA margin guidance of 11–13%. The company holds a net cash position of ₹31 billion and an EPC order book of ~₹80 billion from BharatNet, expected to deliver 12–14% margins.
Strong Q1 numbers reinforce confidence in Polycab's growth and margin trajectory under Project Spring. The order pipeline visibility from BharatNet, robust demand outlook, and net cash balance sheet are positive signals for sustained earnings momentum and capacity-led growth through FY30.