Polycab India Q2 result: Net profit soars 56% YoY to ₹693 crore, revenue rises 18%

The company had clocked a net profit of ₹445.20 crore in the corresponding period of the previous fiscal year, Polycab India said in a regulatory filing.

During the quarter under review, the firm witnessed a 17.8% YoY growth in its revenue from operations at ₹6,477.21 crore, as against ₹5,498.42 crore in the September quarter of the 2024-25 fiscal year (Q2FY25).

The robust growth was bolstered by strong performance in its wires & cables (W&C) business, supported by healthy growth momentum in its fast-moving electrical goods (FMEG) segment, partially offset by a decline in the EPC business, Polycab said.

Polycab India’s W&C segment rose 21% YoY during the quarter, driven by sustained demand momentum across both government and private sectors. Furthermore, an inflationary trend in commodity prices provided an additional boost during the latter part of the quarter.

In Q2FY26, Polycab India’s FMEG segment registered a 14% YoY surge in revenue. While the fans category continued to face headwinds due to the prolonged monsoon season and elevated channel inventory at the beginning of the quarter, all the other categories under FMEG registered healthy growth, supported by sustained demand from the real estate sector and effective execution of strategic initiatives. Additionally, the solar category maintained strong momentum, driven by robust demand under central and state solar rooftop incentive schemes.

The firm’s EPC segment witnessed a 19% YoY decline to ₹402.4 crore for the quarter ended September 2025. However, the segment EBIT increased by 42% YoY.

At an operational level, its EBITDA (earnings before interest, tax, depreciation, and amortisation), also known as operating profit, advanced 62% YoY and 19% QoQ to ₹1,020.7 crore. Consequently, its consolidated EBITDA margins improved by approximately 130 bps quarter-on-quarter (QoQ) to 15.8%.

Commenting on the performance, Mr. Inder T. Jaisinghani, Chairman and Managing Director, Polycab India Limited, said: “Our performance in Q2 FY26 marks another strong step forward in Polycab’s growth journey. We delivered our highest-ever second quarter and half-yearly revenue and profitability, reflecting the continued strength of our core Wires & Cables business and the improving traction in the FMEG business.”

“The domestic demand environment remains healthy, supported by government infrastructure spending and improving private capex sentiment, while our international business continues to scale steadily. As we advance on our Project Spring agenda, we remain committed to driving industry-leading growth and creating long-term value for all stakeholders,” Jaisinghani added.

Shares of Polycab India closed 1.69% lower at ₹7,450 apiece on the National Stock Exchange (NSE) on Friday. However, the results were reported after the market closed.