Polycab India shares trade 1% higher after Thursday's block deal worth ₹1,740 crore; check details

Seven individuals, including promoters of Polycab India, on Thursday cumulatively divested a 1.55% stake in the electrical equipment maker for nearly ₹1,740 crore through open market transactions.

JP Morgan, Morgan Stanley Asia Singapore, Societe Generale, HDFC Standard Life Insurance, Kotak Mahindra Life Insurance, Ghisallo Capital Management, Tata Mutual Fund, ASK Investment Managers, and Hong Kong-based hedge fund Viridian Asset Management were among the buyers of Polycab India's shares, PTI reported.

According to the block deal data available on the NSE, Ramesh Thakurdas Jaisinghani, Ajay Jaisinghani, Bharat Jaisinghani, Inder Thakurdas Jaisinghani, Nikhil Ramesh Jaisinghani and Girdhari Thakurdas Jaisinghani were the promoters and promoter group that pared their holdings in Mumbai-based Polycab India.

Anil Hariram Hariani, Director of Commodities in Polycab India, also offloaded shares. Hariani is a public shareholder of the company.

These individuals collectively sold over 23.32 lakh equity shares, representing 1.55% in separate deals.

The combined transaction was valued around ₹1,739.74 crore and was executed at the price of ₹7,458 apiece.

Polycab India Q1 FY26 Results

Wires and cables maker Polycab India reported a consolidated net profit of ₹592 crore for the first quarter of the current financial year (Q1 FY26), marking an upside of 49% from ₹396 crore logged in the same period last year.

The strong growth was driven by robust performance in the wires and cables (W&C) business, supported by healthy growth momentum in our Fast Moving Electrical Goods (FMEG) business, the company said.

Its revenue from operations rose 26% to ₹5,986 crore from ₹4,756 crore in the year-ago period.

Polycab reported strong operational performance as its earnings before interest, taxes, depreciation, and amortisation (EBITDA), also known as operating profit, rose 46% annually to ₹938 crore, and its EBITDA margin improved by 220 basis points to 15.66% from 13.49%.

“We have started FY 2026 on a strong footing, delivering our highest-ever first-quarter revenue and profitability. Our Wires and Cables business continued to perform well, driven by sustained domestic demand, while our international business also delivered healthy year-on-year growth," said Inder T. Jaisinghani, Chairman and Managing Director, Polycab India.