India · Delayed Price · Currency is INR Polycab India Earnings Call Transcripts
Fiscal Year 2027
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Q1 FY27 saw 39% revenue growth and record profitability, led by strong wires, cables, and FMEG performance. Margins improved, working capital cycle shortened, and exports showed recovery despite global uncertainties. Robust demand outlook and disciplined execution support continued growth.
Fiscal Year 2026
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Record quarterly and annual revenues were achieved, with strong growth in both wires & cables and FMEG segments, despite Middle East disruptions. Market share gains, robust financials, and continued investment in capacity and ESG initiatives position the business for sustained industry-leading growth.
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Q3 FY26 saw 46% revenue growth and record PAT, driven by strong wire, cable, and FMEG performance. Margins faced pressure from commodity inflation and product mix, but robust demand, market share gains, and a healthy order book support a positive outlook.
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Q2 saw record revenue and profitability, with 18% YoY revenue growth and 62% YoY EBITDA growth, driven by strong wires, cables, and FMEG performance. Margins expanded, CapEx and dividend payout increased, and the outlook remains positive amid robust domestic demand and government CapEx.
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Q1 FY26 saw record revenue and profitability, with 26% revenue and 47% EBITDA growth year-over-year, led by strong wires and cables performance and robust domestic demand. FMEG segment achieved its second consecutive profitable quarter, with solar products now the largest contributor.
Fiscal Year 2025
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Record revenue and profitability were achieved in FY 2025, with strong growth across all segments and continued market share gains. Margins expanded, FMEG turned profitable, and a robust order book supports a positive outlook, despite global trade uncertainties.
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Record Q3 and nine-month results with 20% YoY revenue growth and margin expansion. Project Spring launched, targeting 1.5x market growth in wires and cables, international revenue >10%, and higher FMEG profitability. Robust demand outlook, strong order book, and major CAPEX planned.
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Record revenue and profit growth were achieved, with strong performance across all segments and robust international expansion. Project Spring, a new five-year strategy, targets above-industry growth, increased exports, and enhanced ESG focus, supported by significant CapEx and innovation initiatives.
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Record revenue and profit growth in Q2 and H1 FY25, with strong performance across all segments. Margins compressed due to commodity volatility and competition, but guidance for improved H2 margins and robust demand remains. CapEx and order book position the company for continued growth.
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Q1 FY25 saw record revenue and 21% year-on-year growth, but margins declined due to a shift toward lower-margin segments and a 28% drop in international business. Management expects margins and sales to improve as commodity prices stabilize and channel inventory normalizes.