Polycab India Ltd.
POLYCABIndustrials filings
We hold this company’s filings and have not read the financial statements out of them yet. Every filing on record is listed under filings, and each one opens.
Earnings calls
21 transcript(s)/analyst meet(s) served; 4 document(s) on file are not transcripts (cover letters, duplicates, unresolved) and are excluded. Speaker attribution is shown only where the segmenter attributes ≥ 95% of sentences to management or analysts (0 of 21 documents here); elsewhere sentences render unattributed.
| Kind | Date | Period | Served | Attribution rate |
|---|---|---|---|---|
| TRANSCRIPT | 20200605 | 2020-03-31 | yes | |
| TRANSCRIPT | 20201028 | 2020-09-30 | yes | |
| TRANSCRIPT | 20210729 | 2021-06-30 | yes | |
| TRANSCRIPT | 20220127 | 2021-12-31 | yes | |
| TRANSCRIPT | 20220518 | 2022-03-31 | yes | |
| TRANSCRIPT | 20220727 | 2022-06-30 | yes | |
| TRANSCRIPT | 20221025 | 2022-09-30 | yes | |
| TRANSCRIPT | 20230125 | 2022-12-31 | yes | |
| TRANSCRIPT | 20230519 | 2023-03-31 | yes | |
| TRANSCRIPT | 20230724 | 2023-06-30 | yes | |
| TRANSCRIPT | 20231026 | 2023-09-30 | yes | |
| TRANSCRIPT | 20240125 | 2023-12-31 | yes | |
| TRANSCRIPT | 20240517 | 2024-03-31 | yes | |
| TRANSCRIPT | 20240726 | 2024-06-30 | yes | |
| DUPLICATE | 20240726 | 2024-06-30 | no | |
| TRANSCRIPT | 20241025 | 2024-09-30 | yes | |
| DUPLICATE | 20241025 | 2024-09-30 | no | |
| TRANSCRIPT | 20250129 | 2024-12-31 | yes | |
| TRANSCRIPT | 20250514 | 2025-03-31 | yes | |
| TRANSCRIPT | 20250725 | 2025-06-30 | yes | |
| DUPLICATE | 20250725 | 2025-06-30 | no | |
| TRANSCRIPT | 20251028 | 2025-09-30 | yes | |
| DUPLICATE | 20251028 | 2025-09-30 | no | |
| TRANSCRIPT | 20260122 | 2025-12-31 | yes | |
| TRANSCRIPT | 20260508 | 2026-03-31 | yes | |
| TRANSCRIPT | 20260720 | 2026-06-30 | yes |
POLYCAB
files the standard Schedule III statements. Every figure below opens to the filing it was read from; where a figure is not shown, the reason is printed in its place.
Identity
| Statement division | general |
| Scope served | consolidated |
| Panels on this page | 4 |
Market
No split, bonus or consolidation is on record for this company inside the period this price series covers, so the closes need no adjustment.
| Last close | 8,366.50 |
| 52-week range | 6722.0 – 10083.0 |
| Return 1M | -8.04% |
| Return 3M | -12.22% |
| Return 1Y | 11.07% |
| Return 3Y | 60.69% |
| Return 5Y | 247.21% |
| Market capitalisation | not shown — we could not confirm it |
| Shares outstanding | not shown — we could not confirm it |
| P/E | not shown — we could not confirm it |
| P/B | not shown — we could not confirm it |
| EV/EBITDA | not shown — we could not confirm it |
Latest quarter filed — period ending 2026-06-30
In INR crore except per-share figures. `period_id` is the period the filing names for the number; the date beside each cell is when it was filed.
| Revenue from operations | 8,210.00 |
| Other income | 105.00 |
| Total income | 8,315.00 |
| Cost of materials consumed | 6,512.00 |
| Purchases of stock-in-trade | 122.00 |
| Changes in inventories | -563.00 |
| Employee benefit expense | 261.00 |
| Finance costs | 80.00 |
Ownership — 2026-06-30, and the change from 2026-03-31
| Holder | Per cent | Change |
|---|---|---|
| promoter and promoter group | 0.61 | -0.00 |
| institutions foreign | 0.19 | 0.01 |
| institutions domestic | 0.08 | -0.00 |
| mutual funds | 0.05 | -0.00 |
| public | 0.39 | 0.00 |
Documents on file
| Class | Most recent | On file |
|---|---|---|
| DUPLICATE | 2025-09-30 | 4 |
| TRANSCRIPT | 2026-06-30 | 22 |
Financial statements
Filed results, consolidated, in INR crore except per-share figures. Every figure opens to the filing it was read from. Quarterly and annual columns are the periods the filing itself names, never a document date.
Quarterly results, as filed
| Line | 2022-09-30 | 2022-12-31 | 2023-03-31 | 2023-06-30 | 2023-09-30 | 2023-12-31 | 2024-03-31 | 2024-06-30 | 2024-09-30 | 2024-12-31 | 2025-03-31 | 2025-06-30 | 2025-09-30 | 2025-12-31 | 2026-03-31 | 2026-06-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue from operations | 3,332.00 | 3,715.00 | 4,324.00 | 3,889.00 | 4,218.00 | 4,340.00 | 5,592.00 | 4,698.00 | 5,498.00 | 5,226.00 | 6,986.00 | 5,906.00 | 6,477.00 | 7,636.00 | 8,864.00 | 8,210.00 |
| Other income | -2.00 | 40.00 | 52.00 | 64.00 | 35.00 | 71.00 | 54.00 | 58.00 | 76.00 | 25.00 | 48.00 | 80.00 | 45.00 | 50.00 | 60.00 | 105.00 |
| Total income | 3,330.00 | 3,755.00 | 4,375.00 | 3,953.00 | 4,253.00 | 4,411.00 | 5,646.00 | 4,756.00 | 5,575.00 | 5,251.00 | 7,034.00 | 5,986.00 | 6,523.00 | 7,687.00 | 8,925.00 | 8,315.00 |
| Cost of materials consumed | 2,157.00 | 2,614.00 | 2,913.00 | 2,822.00 | 3,253.00 | 3,051.00 | 3,536.00 | 3,918.00 | 3,305.00 | 3,795.00 | 4,399.00 | 4,185.00 | 4,813.00 | 5,655.00 | 5,962.00 | 6,512.00 |
| Purchases of stock-in-trade | 149.00 | 100.00 | 169.00 | 161.00 | 145.00 | 127.00 | 134.00 | 170.00 | 153.00 | 166.00 | 119.00 | 126.00 | 139.00 | 107.00 | 359.00 | 122.00 |
| Changes in inventories | 132.00 | 3.00 | 114.00 | -154.00 | -363.00 | -120.00 | 216.00 | -831.00 | 437.00 | -354.00 | 296.00 | -169.00 | -492.00 | -234.00 | 135.00 | -563.00 |
| Employee benefit expense | 115.00 | 113.00 | 119.00 | 135.00 | 156.00 | 149.00 | 170.00 | 154.00 | 180.00 | 199.00 | 204.00 | 219.00 | 230.00 | 237.00 | 193.00 | 261.00 |
| Finance costs | 14.00 | 9.00 | 28.00 | 25.00 | 27.00 | 32.00 | 24.00 | 41.00 | 45.00 | 50.00 | 33.00 | 51.00 | 48.00 | 69.00 | 75.00 | 80.00 |
| Depreciation and amortisation | 52.00 | 52.00 | 53.00 | 57.00 | 60.00 | 62.00 | 66.00 | 67.00 | 72.00 | 79.00 | 80.00 | 86.00 | 97.00 | 106.00 | 98.00 | 103.00 |
| Other expenses | 352.00 | 381.00 | 400.00 | 377.00 | 419.00 | 564.00 | 776.00 | 704.00 | 791.00 | 700.00 | 943.00 | 687.00 | 765.00 | 905.00 | 1,054.00 | 740.00 |
| Total expenses | 2,971.00 | 3,273.00 | 3,796.00 | 3,423.00 | 3,696.00 | 3,865.00 | 4,920.00 | 4,223.00 | 4,984.00 | 4,634.00 | 6,073.00 | 5,185.00 | 5,602.00 | 6,844.00 | 7,876.00 | 7,256.00 |
| Profit before exceptional items and tax | 359.00 | 482.00 | 579.00 | 530.00 | 557.00 | 546.00 | 725.00 | 533.00 | 590.00 | 617.00 | 961.00 | 801.00 | 921.00 | 842.00 | 1,049.00 | 1,058.00 |
| Exceptional items | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Profit before tax | 359.00 | 482.00 | 579.00 | 530.00 | 557.00 | 546.00 | 725.00 | 533.00 | 590.00 | 617.00 | 961.00 | 801.00 | 921.00 | 842.00 | 1,049.00 | 1,058.00 |
| Current tax | 87.00 | 119.00 | 133.00 | 128.00 | 137.00 | 138.00 | 151.00 | 129.00 | 130.00 | 145.00 | 211.00 | 196.00 | 224.00 | 232.00 | 287.00 | 264.00 |
| Deferred tax | 1.00 | 2.00 | 12.00 | -0.00 | -10.00 | -8.00 | 20.00 | 3.00 | 15.00 | 7.00 | 15.00 | 4.00 | 4.00 | -20.00 | -23.00 | -3.00 |
| Tax expense | 88.00 | 120.00 | 145.00 | 128.00 | 127.00 | 130.00 | 172.00 | 132.00 | 145.00 | 152.00 | 226.00 | 201.00 | 228.00 | 212.00 | 264.00 | 262.00 |
| Profit for the period | 270.00 | 361.00 | 428.00 | 403.00 | 430.00 | 417.00 | 553.00 | 402.00 | 445.00 | 464.00 | 734.00 | 600.00 | 693.00 | 630.00 | 786.00 | 797.00 |
| Profit attributable to owners | 268.00 | 358.00 | 425.00 | 399.00 | 426.00 | 413.00 | 546.00 | 396.00 | 440.00 | 458.00 | 727.00 | 592.00 | 685.00 | 622.00 | 773.00 | 784.00 |
| Profit attributable to non-controlling interests | 3.00 | 3.00 | 4.00 | 4.00 | 4.00 | 4.00 | 7.00 | 6.00 | 5.00 | 7.00 | 8.00 | 8.00 | 8.00 | 8.00 | 13.00 | 12.00 |
| Other comprehensive income | 5.00 | 13.00 | -7.00 | -13.00 | 7.00 | -2.00 | -2.00 | -9.00 | -1.00 | -1.00 | 4.00 | -9.00 | 3.00 | 1.00 | 12.00 | -8.00 |
| Total comprehensive income | 275.00 | 374.00 | 422.00 | 390.00 | 437.00 | 414.00 | 552.00 | 392.00 | 444.00 | 464.00 | 738.00 | 590.00 | 696.00 | 631.00 | 797.00 | 788.00 |
| Earnings per share, basic | 17.90 | 23.90 | 28.37 | 26.66 | 28.38 | 27.50 | 36.37 | 26.35 | 29.25 | 30.42 | 48.31 | 39.36 | 45.54 | 41.30 | 52.18 | 52.09 |
| Earnings per share, diluted | 17.84 | 23.82 | 28.29 | 26.57 | 28.26 | 27.40 | 36.26 | 26.26 | 29.14 | 30.31 | 48.13 | 39.21 | 45.46 | 41.19 | 52.00 | 51.94 |
Annual results, as filed
| Line | 2019-03-31 | 2020-03-31 | 2021-03-31 | 2022-03-31 | 2023-03-31 | 2024-03-31 | 2025-03-31 | 2026-03-31 |
|---|---|---|---|---|---|---|---|---|
| Revenue from operations | 7,956.00 | 8,830.00 | 8,927.00 | 12,204.00 | 14,108.00 | 18,039.00 | 22,408.00 | 28,884.00 |
| Other income | 93.00 | 93.00 | 128.00 | 90.00 | 133.00 | 221.00 | 208.00 | 236.00 |
| Total income | 8,049.00 | 8,923.00 | 9,055.00 | 12,294.00 | 14,241.00 | 18,260.00 | 22,616.00 | 29,120.00 |
| Cost of materials consumed | 5,482.00 | 5,864.00 | 5,792.00 | 9,204.00 | 9,771.00 | 12,662.00 | 15,417.00 | 20,616.00 |
| Purchases of stock-in-trade | 337.00 | 425.00 | 638.00 | 643.00 | 570.00 | 566.00 | 608.00 | 731.00 |
| Changes in inventories | -108.00 | -237.00 | 68.00 | -493.00 | 35.00 | -422.00 | -452.00 | -760.00 |
| Employee benefit expense | 300.00 | 366.00 | 360.00 | 407.00 | 457.00 | 610.00 | 737.00 | 879.00 |
| Finance costs | 117.00 | 50.00 | 53.00 | 35.00 | 60.00 | 108.00 | 169.00 | 243.00 |
| Depreciation and amortisation | 141.00 | 161.00 | 187.00 | 202.00 | 209.00 | 245.00 | 298.00 | 386.00 |
| Other expenses | 1,021.00 | 1,278.00 | 901.00 | 1,178.00 | 1,423.00 | 2,132.00 | 3,138.00 | 3,412.00 |
| Total expenses | 7,291.00 | 7,905.00 | 7,999.00 | 11,175.00 | 12,525.00 | 15,901.00 | 19,915.00 | 25,507.00 |
| Profit before exceptional items and tax | 758.00 | 1,017.00 | 1,055.00 | 1,118.00 | 1,717.00 | 2,359.00 | 2,701.00 | 3,613.00 |
| Exceptional items | 0.00 | 0.00 | 10.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Profit before tax | 758.00 | 1,017.00 | 1,065.00 | 1,118.00 | 1,717.00 | 2,359.00 | 2,701.00 | 3,613.00 |
| Current tax | 288.00 | 245.00 | 157.00 | 281.00 | 412.00 | 554.00 | 615.00 | 939.00 |
| Deferred tax | -32.00 | -0.00 | 22.00 | -10.00 | 13.00 | 3.00 | 40.00 | -34.00 |
| Tax expense | 256.00 | 244.00 | 179.00 | 271.00 | 425.00 | 556.00 | 655.00 | 905.00 |
| Profit for the period | 500.00 | 766.00 | 886.00 | 917.00 | 1,282.00 | 1,803.00 | 2,046.00 | 2,708.00 |
| Profit attributable to owners | 499.00 | 759.00 | 0.00 | — | 1,270.00 | 1,784.00 | 2,020.00 | 2,672.00 |
| Profit attributable to non-controlling interests | 1.00 | 7.00 | 0.00 | — | 12.00 | 19.00 | 26.00 | 36.00 |
| Other comprehensive income | -0.00 | -16.00 | 16.00 | 0.00 | 3.00 | -10.00 | -7.00 | -0.00 |
| Total comprehensive income | 500.00 | 749.00 | 902.00 | 917.00 | 1,286.00 | 1,793.00 | 2,039.00 | 2,708.00 |
| Earnings per share, basic | 35.39 | 51.16 | 59.20 | 60.87 | 84.87 | 118.93 | 134.34 | 177.53 |
| Earnings per share, diluted | 35.39 | 50.97 | 58.96 | 60.61 | 84.61 | 118.49 | 133.80 | 176.95 |
Balance sheet, as filed
| Line | 2022-09-30 | 2023-03-31 | 2023-09-30 | 2024-03-31 | 2024-09-30 | 2025-03-31 | 2025-09-30 | 2026-03-31 |
|---|---|---|---|---|---|---|---|---|
| Total assets | 8,078.00 | 9,425.00 | 9,900.00 | 12,079.00 | 13,711.00 | 13,773.00 | 17,171.00 | 20,476.00 |
| Non-current assets | 2,304.00 | 2,517.00 | 2,820.00 | 3,365.00 | 3,948.00 | 4,454.00 | 5,368.00 | 5,816.00 |
| Current assets | 5,774.00 | 6,909.00 | 7,080.00 | 8,714.00 | 9,763.00 | 9,319.00 | 11,803.00 | 14,658.00 |
| Property, plant and equipment | 1,642.00 | 2,047.00 | 2,084.00 | 2,241.00 | 2,414.00 | 2,791.00 | 3,176.00 | 3,505.00 |
| Capital work-in-progress | 452.00 | 251.00 | 367.00 | 578.00 | 767.00 | 708.00 | 860.00 | 1,139.00 |
| Goodwill | 5.00 | 5.00 | 5.00 | 5.00 | 5.00 | 0.00 | 0.00 | 0.00 |
| Other intangible assets | 17.00 | 16.00 | 18.00 | 16.00 | 98.00 | 141.00 | 142.00 | 147.00 |
| Inventories | 2,413.00 | 2,951.00 | 3,431.00 | 3,675.00 | 4,256.00 | 3,661.00 | 5,418.00 | 5,560.00 |
| Trade receivables | 960.00 | 1,247.00 | 1,321.00 | 2,047.00 | 2,339.00 | 2,596.00 | 2,815.00 | 3,759.00 |
| Cash and cash equivalents | 101.00 | 153.00 | 255.00 | 307.00 | 161.00 | 217.00 | 450.00 | 390.00 |
| Total equity and liabilities | 8,078.00 | 9,425.00 | 9,900.00 | 12,079.00 | 13,711.00 | 13,773.00 | 17,171.00 | 20,476.00 |
| Equity | 5,864.00 | 6,669.00 | 7,240.00 | 8,243.00 | 8,661.00 | 9,907.00 | 10,691.00 | 12,127.00 |
| Equity share capital | 150.00 | 150.00 | 150.00 | 150.00 | 150.00 | 150.00 | 151.00 | 151.00 |
| Other equity | 5,684.00 | 6,481.00 | 7,045.00 | 8,037.00 | 8,444.00 | 9,675.00 | 10,443.00 | 11,858.00 |
| Total liabilities | 2,215.00 | 2,757.00 | 2,660.00 | 3,836.00 | 5,050.00 | 3,866.00 | 6,480.00 | 8,349.00 |
| Non-current liabilities | 110.00 | 130.00 | 180.00 | 258.00 | 365.00 | 356.00 | 401.00 | 384.00 |
| Current liabilities | 2,105.00 | 2,627.00 | 2,480.00 | 3,578.00 | 4,685.00 | 3,510.00 | 6,080.00 | 7,965.00 |
| Borrowings, non-current | 3.00 | 4.00 | 3.00 | 23.00 | 33.00 | 42.00 | 43.00 | 39.00 |
| Borrowings, current | 100.00 | 151.00 | 156.00 | 67.00 | 77.00 | 67.00 | 84.00 | 93.00 |
| Trade payables | 1,660.00 | 2,033.00 | 1,885.00 | 2,863.00 | 3,821.00 | 1,430.00 | 4,553.00 | 1,799.00 |
Cash flow, as filed
| Line | 2022-09-30 | 2023-03-31 | 2023-09-30 | 2024-03-31 | 2024-09-30 | 2025-03-31 | 2025-09-30 | 2026-03-31 |
|---|---|---|---|---|---|---|---|---|
| Net cash from operating activities | 958.00 | 1,428.00 | 293.00 | 1,296.00 | 1,329.00 | 1,809.00 | 1,791.00 | 3,811.00 |
| Net cash from investing activities | -772.00 | -1,203.00 | 162.00 | -752.00 | -961.00 | -1,239.00 | -943.00 | -2,850.00 |
| Net cash from financing activities | -213.00 | -227.00 | -350.00 | -387.00 | -512.00 | -628.00 | -618.00 | -799.00 |
| Purchase of property, plant and equipment | 201.00 | 477.00 | 352.00 | 853.00 | 576.00 | 970.00 | 752.00 | 1,480.00 |
| Net increase in cash | -28.00 | -2.00 | 105.00 | 157.00 | -144.00 | -59.00 | 230.00 | 162.00 |
| con:CFO.BEFORE_TAX | 1,097.00 | 1,798.00 | 517.00 | 1,871.00 | 1,565.00 | 2,442.00 | 2,183.00 | 4,694.00 |
| con:INTEREST_RECEIVED.OPERATING | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:INTEREST_PAID.OPERATING | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:DIVIDENDS_RECEIVED.OPERATING | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:TAX_PAID.OPERATING | 140.00 | 370.00 | 224.00 | 574.00 | 237.00 | 633.00 | 393.00 | 883.00 |
| con:CF_OTHER.OPERATING | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:INVESTMENTS_PURCHASED | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:INVESTMENTS_SOLD | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:PPE_DISPOSALS | 0.00 | 21.00 | 0.00 | 1.00 | 1.00 | 14.00 | 4.00 | 10.00 |
| con:CF_INVESTING.SUBSIDIARIES_SOLD | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:CF_INVESTING.SUBSIDIARIES_ACQUIRED | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:CF_INVESTING.JV_SOLD | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:CF_INVESTING.JV_ACQUIRED | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Who owns it
The shareholding pattern filed with the exchange every quarter, as a series. Percentages are of total shares. Each figure names the filing it was read from and the date it was filed.
| Holder | 2023-03-31 | 2023-06-30 | 2023-09-30 | 2023-12-31 | 2024-03-31 | 2024-06-30 | 2024-09-30 | 2024-12-31 | 2025-03-31 | 2025-06-30 | 2025-09-30 | 2025-12-31 | 2026-03-31 | 2026-06-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Promoter and promoter group | 66.20 | 65.99 | 65.91 | 65.79 | 65.24 | 65.02 | 63.06 | 63.05 | 63.04 | 0.63 | 0.62 | 0.61 | 0.61 | 0.61 |
| Domestic institutions | 9.34 | 9.74 | 8.09 | 7.61 | 7.23 | 6.93 | 9.36 | 10.67 | 10.95 | 0.12 | 0.12 | 0.11 | 0.08 | 0.08 |
| Mutual funds | — | — | — | — | — | — | — | — | — | 0.09 | 0.09 | 0.08 | 0.05 | 0.05 |
| Insurance companies | 1.13 | 1.09 | 0.66 | 1.05 | 0.65 | 0.79 | 0.99 | 1.21 | 1.85 | 0.02 | 0.02 | 0.02 | 0.02 | 0.03 |
| Foreign institutions | 9.78 | 9.66 | 12.41 | 13.42 | 11.95 | 13.63 | 13.48 | 12.76 | 11.11 | 0.11 | 0.14 | 0.15 | 0.18 | 0.19 |
| Government | — | — | — | — | — | — | — | — | — | — | — | 0.00 | 0.00 | 0.00 |
| Public | 33.80 | 34.01 | 34.09 | 34.21 | 34.76 | 34.98 | 36.94 | 36.95 | 36.96 | 0.37 | 0.38 | 0.39 | 0.39 | 0.39 |
| Non-institutional | 14.67 | 14.61 | 13.59 | 13.18 | 15.58 | 14.42 | 14.10 | 13.53 | 14.89 | 0.14 | 0.13 | 0.13 | 0.12 | 0.12 |
| Shares outstanding | 149765278 | 149864965 | 150026067 | 150166520 | 150236395 | 150348840 | 150388500 | 150419665 | 150425898 | 150506158 | 150531543 | 150538473 | 150550508 | 150635053 |
Related parties
Transactions with related parties as disclosed to the exchange for the period ending 2024-09-30, by counterparty, largest first. Amounts are as filed. Each row names the filing and the date it was filed.
| Counterparty | Relationship | Type | Amount in the period | Transactions |
|---|---|---|---|---|
| Techno Electromech Private Limited | Joint Venture | Any other transaction, Interest received, Loan, Purc | 1,213,910,000.00 | 8 |
| Polycab Australia Pty Ltd | Subsidiary | Sale of goods or services | 967,010,000.00 | 1 |
| Tirupati Reels Private Limited | Subsidiary | Any other transaction, Purchase of goods or services | 833,160,000.00 | 5 |
| Uniglobus Electricals and Electronics Private Limited | Subsidiary | Any other transaction, Interest received, Loan, Purc | 489,900,000.00 | 11 |
| Tirupati Tradelinks Private Limited | Enterprises owned or significantly | Purchase of goods or services | 143,590,000.00 | 1 |
| Polycab USA LLC | Subsidiary | Sale of goods or services | 126,630,000.00 | 1 |
| Polycab Support Force Private Limited | Subsidiary | Any other transaction, Interest received, Loan | 97,530,000.00 | 6 |
| Mr. Inder T. Jaisinghani | Executive Director | Remuneration | 36,740,000.00 | 1 |
| Mr. Gandharv Tongia | Executive Director & CFO | Remuneration | 36,070,000.00 | 1 |
| Dowells Cable Accessories Private Limited | Subsidiary | Any other transaction, Purchase of goods or services | 35,600,000.00 | 7 |
| Polycab Social Welfare Foundation | Enterprises owned or significantly | Any other transaction | 26,900,000.00 | 1 |
| Mr. Rakesh Talati | Executive Director | Remuneration | 24,520,000.00 | 1 |
| AK Enterprises | Enterprises owned or significantly | Any other transaction | 14,590,000.00 | 1 |
| Mr. Bharat A. Jaisinghani | Executive Director | Remuneration | 13,650,000.00 | 1 |
| Mr. Nikhil R. Jaisinghani | Executive Director | Remuneration | 13,400,000.00 | 1 |
What management said
Every earnings call we hold for this company, read in full. Prepared remarks are separated from the question-and-answer session and every paragraph names who said it and on which page. These are management’s own words, not filed figures.
| Date | Quarter | Who spoke | |
|---|---|---|---|
| 2026-05-08 | Q4FY26 | POLYCAB INDIA LIMITED | Read the call |
| 2026-01-22 | Q3FY26 | POLYCAB INDIA LIMITED | Read the call |
| 2025-10-28 | Q2FY26 | Read the call | |
| 2025-07-25 | Q1FY26 | Read the call | |
| 2025-05-14 | Q4FY25 | CHIRAYU, DIRECTOR, POLYCAB INDIA LIMITED, HEAD,, RELATIONS, POLYCAB INDIA LIMITED | Read the call |
| 2025-01-29 | Q3FY25 | Read the call | |
| 2024-10-25 | Q2FY25 | Read the call | |
| 2024-07-26 | Q1FY25 | Read the call | |
| 2024-05-17 | Q4FY24 | Read the call | |
| 2024-01-25 | Q3FY24 | Read the call | |
| 2023-10-26 | Q2FY24 | Read the call | |
| 2023-07-24 | Q1FY24 | Read the call | |
| 2023-05-19 | Q4FY23 | Read the call | |
| 2023-01-25 | Q3FY23 | DIRECTOR– POLYCAB INDIA LIMITED | Read the call |
| 2022-10-25 | Q2FY23 | Read the call | |
| 2022-07-27 | Q1FY23 | Read the call | |
| 2022-05-18 | Q4FY22 | Read the call | |
| 2022-01-27 | Q3FY22 | DIRECTOR | Read the call |
| 2021-07-29 | Q1FY22 | - POLYCAB INDIA LIMITED | Read the call |
| 2020-10-28 | Q2FY21 | (FINANCE) | Read the call |
| 2020-06-05 | Q4FY20 | ACCOUNTS, MANAGING DIRECTOR | Read the call |
What they said about it, quarter by quarter
| Topic | Q3FY25 | Q3FY26 | Q4FY20 | Q4FY22 | Q4FY23 | Q4FY24 | Q4FY25 | Q4FY26 |
|---|---|---|---|---|---|---|---|---|
| Capex | With continued government investments, the private capital expenditure too is projected to rise from 14% of GDP currently to around 20% of GDP, levels… | At the same time, government capital expenditure has accelerated meaningfully with approximately 59% of the FY26 capex outlay already utilized by Nove… | I saw that the company has done about Rs.2.8 billion of CAPEX in FY20. So rough breakup of that number where did it spend etc.? | Okay and lastly, can you provide some color capex spends for FY2023? | An important use of the cash available to the Company, other than for capex, is to reward our shareholders, through dividend payments. | To be able to succinctly deliver on this promise, we have augmented our capital expenditure to enhance our manufacturing capacities. | For the first time in our history, the annual capex reached almost ₹ 10 billion, underscoring our long-term commitment to growth. | For the first time in our history, annual capex exceeded INR 14.5 billion, underscoring our long-term commitment to growth in line with Project Spring… |
| Capital allocation | Further, we will continue to gradually increase our dividend payout ratio to greater than 30% by FY30 from the current 26.5%. | — | And you already know that dividend payout was also done in March. | — | In-line with the business growth and as has been our trend since listing, we increased our dividend payout for the year, to 23.5%, paying dividend of … | — | In line with our capital allocation priorities, we have proposed a dividend of ₹ 35 per share, resulting in a dividend payout ratio of 26.3%. | In line with our capital allocation strategy, we have proposed a dividend of INR 47 per share, resulting in a payout ratio of 27.2%. |
| Costs | — | While we have been revising prices, the full impact of the input cost increase has not yet been passed on. | And on the raw material side we any which ways have a very healthy supply chain and we are not witnessing any challenges from raw material. | Copper is the biggest or most significant raw material in our cable and wire business and we import copper from overseas market, in the last year, in … | Segmental EBIT turned negative during the year largely on account of higher A&P spends, staff cost and input cost pressures. | — | — | Now the trade sentiment itself, with all the raw material prices going up, even if you look at PVC prices went up by 60% to 80% in the first fortnight… |
| Debt and cash | In addition, our working capital cycle stood at 51 days, within our comfort range of 50 to 60 days. | — | Question number two is, can you talk a little bit more in terms of working capital, especially the payables and acceptances, because as I see in your … | I think I am sure that the senior leadership is looking at that number and the cash flows are increasing year-on-year, you already have 1100 Crores, I… | During the year, we also continued to work on optimization of working capital days, one of our key areas of focus since listing, successfully reducing… | Net cash position improved to ₹ 21.4 Bn over ₹ 18.9 Bn in Q4 of the previous year, while working capital cycle, at 48 days, showed a tad improvement o… | Our working capital cycle improved to 49 days in Q4FY25, primarily due to a temporary reduction in inventory days as some of the raw material purchase… | We have also strengthened our balance sheet with net cash increasing to INR 41.9 billion, reflecting disciplined cash flow management. |
| Demand | With a strong demand outlook, favourable support from the government and our internal transformation initiatives, I'm confident that we are well posit… | January 16, 2026 Overall, we are witnessing signs of recovery in consumption and this improving demand environment is expected to translate into a rev… | While the pent-up demand is expected to bounce back as movement restrictions ease, some downgrading in the near term seems imminent. | My top two questions here, first is on the FMEG portfolio as you have mentioned the business have been looking at multi brand strategy positioning in … | Key indicators such as manufacturing PMI, services PMI, and core 8 industries consistently remained above long-term averages, while growth momentum wa… | As of the present date, we want to emphasize that no tax demand notice or any other order has been issued to us by the Income Tax department. | The robust growth within the business was driven by strong execution of the RDSS order book. | The government capital expenditure has largely remained on track, spending about 86% of the revised budget estimates till February 2026, providing a s… |
| Guidance | This is a momentous occasion by us as we have achieved our first-ever 5-year guidance of reaching ₹ 200 billion top-line by FY26, ahead of the committ… | With favourable support and strong demand visibility, we expect this momentum to continue in the coming quarters. | Though we expect margins in this business to remain in high single digit on annualized basis, which we Polycab India Limited May 30, 2020 believe is s… | Inderbhai believes that if you are in a product category you should be the number one, if you do not want to be number one, you should not be there in… | We expect the annual sustainable operating margin in this business to be in high single-digit over mid-to-long term. | During this time, we expect business from other geographies to continue to show robust growth. | On a normalized basis, we expect the working capital cycle to return to a long-term steady range of 50 to 55 days. | May 06, 2026 Capital expenditure for the quarter stood at INR3.9 billion, taking the total capex for full financial year to approximately INR14.8 bill… |
| Margin | The improvement in EBITDA margins was on account of 2 reasons: 1) Normalization in wires and cables business margins, as margins in wires business rev… | While this approach resulted in near-term margin pressure at the Company level, it enables us to protect volumes, gain market share and further streng… | EBITDA grew by 19% year-on-year and margin at 12.8% improved 87 bps year-on-year versus FY19. Our staff cost at 4.1% of our sales were higher by 38 bp… | Okay and any difference in strategy between the growth in cables and wires I mean does that do we aim for higher growth in wires, switches, cables or … | PAT margin stood at 9.9%, an improvement of ~170 bps over that of same quarter last year. | EBITDA for the quarter grew by 26% year-on-year with EBITDA margins coming in at 13.6%, a ~50 bps improvement quarter-on-quarter, on the back of bette… | This margin expansion was driven primarily by: 1. | FY26 has been a landmark year for the company with record high revenue, EBITDA and PAT. |
| People | High manufacturing utilization levels of ~75% with expected interest rate cuts, which will boost consumption, lay support to the projection. | Rising capacity utilization, strong investment announcements, and improving credit offtake points to a broad-based recovery in economic activity and i… | Apart for FMEG for example, the facilities which are operating at a higher capacity utilization level and remaining is for regular upkeep. | Within two-third most of it will go for setting a new facilities to meet the export requirement as well as for the product categories where the utiliz… | I have one question on capacity utilization. | What was your capacity utilization in cables and wires, separately? | Corporate investment is rebounding, fuelled by stronger balance sheets, lower borrowing costs, and higher capacity utilization. | And if you can also talk about what is the status on capacity utilization now? |
| Pricing | So as per what the American President is saying, and if he actually goes on implementing 25% import duty on Mexico, then the pricing differential betw… | Secondly, I think you did take a price hike of about 6% YoY. | Margins improved on the back of calibrated pricing actions. | Thank you for the opportunity and congratulations on a great set of number, my first question is regarding the price hikes, would you be able to elabo… | Through these efforts, direct quotes from Polycab have increased from 16% in FY22 to 34% Q4FY23, indicating a strong shift towards control over pricin… | Due to the losses incurred by Techno on account of the continued pricing decline in lights and corresponding impact on business, the net worth of the … | In the lightning and luminaries business, we sustained our growth momentum of last quarter, even amidst continued pricing deflation. | The Bank of England also held at 3.75% with markets now pricing 2 rate hikes this year. |
| Revenue growth | Industrial production (IIP) posted robust growth of 5.2% in November 2024, improving from 3.7% in October 2024, driven by improvements across sectors. | With Q2 FY26 GDP growth at 8.2%, India continues to be the fastest-growing major economy, underscoring the strength of its internal growth engines. | In the year ended 31st March 2020, our consolidated revenue growth has been healthy at 11% year-on-year, led by decent performance across segments. | 20,000 Crores of topline over the period five years, last year in FY2021 we exited close to Rs. | EBITDA grew by 27% YoY with EBITDA margins at 14.0%, a growth of ~200 bps YoY. | In addition to our impressive revenue growth, we also achieved the highest-ever yearly profits in our Company's history, further solidifying Polycab's… | Our EBITDA grew by 35% YoY, outpacing revenue growth, resulting in ~110 basis points improvement in EBITDA margins, which stood at 14.7% for the quart… | Encouragingly, for most of FY26, this growth was accompanied by strikingly benign inflation. |
What they said they would do
Sentences in which management set an expectation. Each names the speaker and the page of the transcript it came from.
| Date | Quarter | Who | What they said |
|---|---|---|---|
| 2025-05-14 | Q4FY25 | CHIRAYU | Our guidance, as a part of Project Spring, is on EBITDA and we’ve given the guidance that over the near to mid-term we expect the EBITDA margins in the cables and wires business to be consistently in the 11% to 13% range. |
| 2025-05-14 | Q4FY25 | CHIRAYU | So largely there are positive variables as well as negative variables, and that is where the margin trajectory going ahead in spite of whatever will happen, I think we have given a guidance of 11% to 13% and we are reasonably confident that we should be able to deliver within those margin guidance. |
| 2025-05-14 | Q4FY25 | CHIRAYU | Going ahead, we expect that we should be able to continuously see improvement in our margins towards our guided range of 8% to 10% of EBITDA margins by FY30. So, every year we should see an improvement from the current margins that we have. |
| 2025-05-14 | Q4FY25 | CHIRAYU | But longer-term guidance for us will always be 11% to 13% of EBITDA margins, which we believe is a sustainable margin range for the cables and wires business. |
| 2026-01-22 | Q3FY26 | POLYCAB INDIA LIMITED | Looking ahead, we are confident in the long-term potential of the FMEG segment and remain on track to achieve our Project Spring targets of 1.5x - 2x industry growth and EBITDA margins in the range of 8% to 10% by FY30, positioning the business for sustained growth and value creation. |
| 2026-05-08 | Q4FY26 | POLYCAB INDIA LIMITED | We remain on track to execute our planned capex program of INR 60 billion to INR 80 billion over the next 5 years, which will further enhance our capabilities, scale and innovation. |
| 2026-05-08 | Q4FY26 | POLYCAB INDIA LIMITED | We remain firm on track to achieve our target of greater than 10% contribution from exports by financial year 2030. |
| 2026-05-08 | Q4FY26 | POLYCAB INDIA LIMITED | May 06, 2026 In FMEG, we are also progressing well consistently, outpacing industry growth in line with our target of growing at 1.5x to 2x of market rate, while maintaining a clear focus on margin expansion and progressing towards our EBITDA margin goal of 8% to 10% by FY2030. During FY26, we incurred capex of INR 14.8 billion, in line with our annual guidance of INR 12 billion to INR 16 billion per annum. |