Mumbai, October 15: Electrical equipment major Polycab India Limited delivered strong results for the quarter ended September 30, 2026 (Q2 FY27), with net profit rising to ₹989 crore, up 49% from ₹664 crore in the same period last year. Sustained demand across its wires and cables and FMCG sectors throughout the quarter helped, with revenues growing 53% year on year to ₹9,898 crore from ₹6,467 crore last year.
Despite this, Polycab’s stock slid nearly 2.5% due to the news, as investors worried about sustainable growth for the company given the challenges with raw material supply and Ultratech Cement’s foray into the sector.
With its core wires and cables segment remaining the core engine of growth, the company’s Fast Moving Electrical Goods (FMEG) business- which includes fans, switches, lighting and appliances- also saw strong revenue growth throughout the quarter.
At the operational level, the company’s Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) rose 39% YoY to ₹25,587 crore, compared to ₹18,784 crore last year, the company revealed in a regulatory filing. Market analysts pointed out that Polycab’s EBITDA growth has lagged behind its competitors, as higher raw material costs and shifting product demands have affected its operational efficiency.
“Q2 FY27 marked another quarter of strong execution and meaningful progress for Polycab. We delivered our highest-ever second quarter and half-yearly revenue and profitability, reflecting the strength of our market position, the robust performance of our Wires & Cables business, and the continued strengthening of our FMEG business.” Inder T. Jaisinghani, Chairman and Managing Director, Polycab India said on the results.
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