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Polycab Incorporates New Subsidiary Polycon Infra Projects for EPC Business
Polycab India Limited has incorporated a new wholly owned subsidiary, Polycon Infra Projects Private Limited (PIPPL), on April 24, 2026. The subsidiary is established to focus on Engineering, Procurement, and Construction (EPC) projects within the power distribution, transmission, and telecom sectors. Polycab has initially invested ₹10 lakh for a 100% stake, with the new entity having an authorized capital of ₹1.00 crore. This move indicates a strategic push by Polycab to deepen its involvement in infrastructure projects beyond its core manufacturing business.
Key Highlights
Incorporated 'Polycon Infra Projects Private Limited' as a 100% wholly owned subsidiary
Initial investment of ₹10 lakh for 1,00,000 equity shares at face value
Authorized capital of the new entity is set at ₹1.00 crore
Target sectors include Power distribution, transmission, and Telecom industry EPC projects
💼 Action for Investors
Investors should monitor the new subsidiary's ability to secure high-value EPC contracts, which could provide a new revenue stream. While the initial investment is small, the move signals Polycab's intent to capture more value in the power and telecom infrastructure value chain.
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Polycab India Announces Effective Date for Amalgamation of Uniglobus Electricals
Polycab India Limited has announced that the Scheme of Amalgamation of Uniglobus Electricals and Electronics Private Limited with itself has become effective as of March 27, 2026. This follows the filing of the certified NCLT order with the Registrar of Companies. The merger is a strategic move to consolidate the company's electrical business and streamline its corporate structure. Investors should view this as a completion of a previously announced regulatory process to integrate a subsidiary.
Key Highlights
Scheme of Amalgamation between Uniglobus Electricals and Polycab India is now effective from March 27, 2026.
The Hon’ble NCLT, Ahmedabad Bench, had approved the scheme vide its order dated February 27, 2026.
The certified copy of the NCLT order was filed with the jurisdictional Registrar of Companies on March 27, 2026.
The merger aims to simplify the corporate structure and achieve operational efficiencies within the group.
💼 Action for Investors
This is a positive structural development that simplifies the group architecture; investors should monitor the next financial statement for the consolidated impact of the merger.
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Polycab Receives Rectification Order; Income Tax Demand Reduced to ₹57.58 Cr from ₹327.45 Cr
Polycab India has successfully contested an initial income tax demand for the Assessment Year 2024-25, resulting in a significant reduction of the liability. The Income Tax Authority issued a rectification order reducing the demand from ₹327.45 crore to ₹57.58 crore after correcting clerical and computational errors. The company maintains that the remaining ₹57.58 crore demand is still incorrect due to uncredited advance taxes and plans to file further rectifications. Additionally, Polycab will appeal the underlying additions of ₹41.87 crore, asserting that the demand is not legally sustainable.
Key Highlights
Income tax demand reduced by approximately 82% from ₹327.45 crore to ₹57.58 crore.
The reduction follows a rectification application filed under Section 154 of the Income Tax Act.
Remaining demand of ₹57.58 crore is attributed to non-granting of advance tax credits.
Original additions and disallowances leading to the dispute aggregate to ₹41.87 crore.
Company is in the process of filing an appeal against the additions, citing they are not sustainable in law.
💼 Action for Investors
Investors should view this as a positive development as it significantly reduces a potential financial liability. Monitor the outcome of the subsequent rectification and the legal appeal regarding the core additions.
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Polycab India Receives ₹327.45 Crore Income Tax Demand for AY 2024-25
Polycab India has received an assessment order for the Assessment Year 2024-25 with a tax demand amounting to ₹327.45 crores. The Income Tax Authority made specific disallowances and additions totaling ₹41.87 crores, yet the final demand is significantly higher. The company attributes this discrepancy to computational and clerical errors and is seeking rectification under Section 154 of the Income Tax Act. Polycab intends to appeal the order and maintains that there will be no material impact on its financial position.
Key Highlights
Income Tax Authority raised a total demand of ₹327.45 crores for FY 2023-24.
The demand is based on disallowances and additions aggregating to ₹41.87 crores.
Management identifies significant computational errors in the tax demand calculation.
Company is filing for rectification and a formal appeal against the assessment order.
Polycab asserts the demand is not sustainable in law and expects no material financial impact.
💼 Action for Investors
Investors should monitor the outcome of the rectification process as the demand is disproportionately high compared to the additions. While the company expects no material impact, tax litigation can cause short-term sentiment volatility.
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Polycab Receives NCLT Approval for Amalgamation of Subsidiary Uniglobus Electricals
Polycab India Limited has received formal approval from the NCLT Ahmedabad Bench for the merger of its wholly-owned subsidiary, Uniglobus Electricals and Electronics Private Limited, into the parent company. This vertical amalgamation is designed to simplify the corporate structure and reduce administrative and compliance overheads. The merger is being executed under Sections 230-232 of the Companies Act, 2013. The scheme will become officially effective once the certified copy of the NCLT order is filed with the Registrar of Companies.
Key Highlights
NCLT Ahmedabad Bench approved the amalgamation scheme on February 28, 2026.
Uniglobus Electricals and Electronics Private Limited is a 100% wholly-owned subsidiary of Polycab.
The merger is conducted under Sections 230 to 232 of the Companies Act, 2013.
The effective date of the scheme is pending the filing of the certified order with the Registrar of Companies (RoC).
💼 Action for Investors
This is a routine corporate restructuring that improves operational efficiency; no action is required from shareholders as there is no change in equity.
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Polycab Appoints Bharat and Nikhil Jaisinghani as Joint MDs; Proposes 5-Year Terms
Polycab India has initiated a postal ballot to seek shareholder approval for key leadership changes and director re-appointments. Mr. Bharat A. Jaisinghani and Mr. Nikhil R. Jaisinghani have been redesignated as Joint Managing Directors effective January 16, 2026, with proposed five-year extensions starting May 13, 2026. Additionally, the company is seeking a second two-year term for Independent Director Mrs. Manju Agarwal. The e-voting period for these resolutions is set from January 24, 2026, to February 22, 2026.
Key Highlights
Redesignation of Bharat and Nikhil Jaisinghani to Joint Managing Directors effective Jan 16, 2026
Proposed 5-year re-appointment for both Joint MDs from May 13, 2026, to May 12, 2031
Re-appointment of Mrs. Manju Agarwal as Independent Director for a 2-year term until Jan 2028
E-voting period for shareholders scheduled between Jan 24 and Feb 22, 2026
Resolutions include one Special Resolution for the Independent Director and four Ordinary Resolutions
💼 Action for Investors
Investors should view these appointments as a sign of leadership continuity and clear succession planning within the promoter group. Shareholders are encouraged to participate in the e-voting process to formalize these management transitions.
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Polycab Q3 FY26: Revenue Surges 46% YoY, Record PAT of ₹6.3 Billion
Polycab India delivered a robust Q3 FY26 performance with consolidated revenue growing 46% YoY, driven by a 53% surge in the Wires and Cables segment. The company achieved its highest-ever Q3 PAT of ₹6.3 billion, up 36% YoY, while 9-month revenues crossed the ₹200 billion milestone. Despite sharp sequential increases in copper (21%) and aluminium (11%) prices, EBITDA margins remained healthy at 12.7%. The board also elevated Bharat and Nikhil Jaisinghani to Joint Managing Directors, signaling a focus on long-term leadership stability.
Key Highlights
Consolidated revenue grew 46% YoY in Q3 FY26; 9M FY26 revenue surpassed ₹200 billion.
Domestic Wires and Cables business recorded exceptional 59% YoY revenue growth and 40% volume growth.
FMEG segment grew 17% YoY, remaining profitable for the fourth consecutive quarter with solar business doubling YoY.
Maintained a strong net cash position of ₹30.3 billion with a lean working capital cycle of 27 days.
Capital expenditure for 9M FY26 reached ₹10.9 billion, aligning with the 'Project Spring' long-term growth strategy.
💼 Action for Investors
Investors should maintain a positive outlook given Polycab's dominant market share gains and strong volume growth in the core W&C segment. The company's ability to remain profitable in FMEG while scaling and its robust cash position make it a strong play on India's infrastructure and housing cycle.
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Polycab Q3 FY26: Market Leader with 26-27% Share Outlines 'Project Spring' Strategy
Polycab India Limited reported its Q3 FY26 results, reinforcing its dominant position with a 26-27% share in the organized Wires & Cables market. The company has demonstrated strong financial performance with a 6-year revenue CAGR of 19% and a PAT CAGR of 26%, reaching a total revenue of ₹ 224,083 Mn in FY25. Following the early completion of 'Project Leap', the company has now initiated 'Project Spring', its next five-year transformation strategy. Management remains optimistic about growth, citing a projected ₹ 9 Tn investment in India's power transmission and distribution sector over the next seven years.
Key Highlights
Maintains market leadership in Wires & Cables with a 26-27% share of the organized market.
Reported a robust 6-year financial performance with Revenue, EBITDA, and PAT CAGRs of 19%, 21%, and 26% respectively.
Wires & Cables segment remains the primary driver, contributing 84% of the ₹ 224,083 Mn FY25 revenue.
Initiated 'Project Spring', a new 5-year transformation plan, after completing 'Project Leap' ahead of schedule.
Positive industry outlook with Wires & Cables demand expected to grow at 1.5-2x Real GDP through FY30.
💼 Action for Investors
Polycab remains a core portfolio stock for exposure to India's infrastructure and housing boom; investors should monitor the execution of 'Project Spring' and the scaling of the FMEG business.
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Polycab Unveils 'Project Spring' Strategy; Targets Growth in ₹900 Bn W&C Market by FY30
Polycab India Limited has reported a strong financial trajectory with a 9-year revenue CAGR of 25%, reaching a total revenue of ₹224,083 million in FY25. The company successfully achieved its 'Project Leap' targets ahead of schedule and has now initiated 'Project Spring,' a new five-year transformation plan for future growth. Maintaining a dominant 26-27% share of the organized Wires & Cables market, Polycab is positioned to capitalize on the ₹9 trillion investment expected in India's Power T&D sector over the next seven years. The company's diversified portfolio and extensive network of 4,300+ dealers continue to drive its leadership in the electrical goods space.
Key Highlights
Achieved FY25 total revenue of ₹224,083 million with Wires & Cables contributing 84% of external sales.
Maintained a 6-year CAGR of 19% in Revenue, 21% in EBITDA, and 26% in Adjusted PAT.
Holds a leading 26-27% market share in the organized Indian Wires & Cables industry, which is projected to reach ₹900 billion by FY30.
Initiated 'Project Spring' transformation program following the early completion of 'Project Leap' objectives.
Operates a massive distribution footprint with 4,300+ dealers and 200,000+ retail outlets across India.
💼 Action for Investors
Investors should consider Polycab a core play on India's infrastructure and energy transition, given its consistent ability to outpace GDP growth and meet strategic targets early. The stock remains a strong candidate for long-term portfolios focused on the manufacturing and electrification themes.
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Polycab FY25 Revenue Hits ₹22,408 Cr; Launches 'Project Spring' Transformation Plan
Polycab India reported a robust FY25 revenue of ₹224,083 million, driven by its dominant 26-27% share in the organized Wires & Cables market. The company has achieved a 6-year PAT CAGR of 26% and recently secured a CRISIL AAA/Stable credit rating. Management has transitioned from 'Project Leap' to 'Project Spring', a new 5-year strategic roadmap aimed at capturing opportunities in the ₹9 trillion Power T&D sector. With 84% of revenue coming from Wires & Cables, Polycab remains a key proxy for India's infrastructure and electrification cycle.
Key Highlights
FY25 total revenue reached ₹224,083 million with an 84% contribution from Wires & Cables.
Maintains a leading 26-27% share in the organized Wires & Cables market with a 9-year CAGR of 25%.
Achieved 6-year Revenue, EBITDA, and PAT CAGRs of 19%, 21%, and 26% respectively.
Initiated 'Project Spring' for the next 5 years after completing 'Project Leap' targets ahead of schedule.
Strong distribution network with 4,300+ dealers and 200,000+ retail outlets across India.
💼 Action for Investors
Polycab is a high-conviction play on India's infrastructure and power sector growth; investors should maintain positions to benefit from the 'Project Spring' transformation. Monitor the scaling of the FMEG segment and international business for further margin expansion.
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Polycab Q3 FY26 PAT Rises 36% YoY to ₹6,302 Mn; Revenue Hits Record High
Polycab India delivered a record-breaking performance in Q3 FY26, with consolidated revenue surging 46% YoY to ₹76,361 Mn. Net profit (PAT) grew 36% YoY to ₹6,302 Mn, while nine-month PAT reached an all-time high of ₹19,228 Mn, up 47%. The core Wires & Cables segment saw exceptional domestic growth of 59%, although margins in this segment compressed by 300 bps sequentially to 12.1% due to deferred cost pass-through. The company's balance sheet remains strong with a net cash position of ₹30.3 Bn.
Key Highlights
Q3 FY26 Revenue grew 46% YoY to ₹76,361 Mn, driven by 53% growth in the Wires & Cables segment.
9M FY26 Revenue surpassed ₹200 Bn for the first time, marking a 30% YoY increase.
EBITDA for Q3 grew 34% YoY to ₹9,661 Mn, with consolidated margins at 12.7%.
FMEG segment recorded 17% YoY growth, led by strong performance in the solar category.
Net cash position improved significantly to ₹30.3 Bn from ₹17.1 Bn in the previous year.
💼 Action for Investors
Investors should view the strong top-line growth and market share gains as a positive indicator of demand, despite the temporary sequential margin dip in the W&C segment. The company's robust cash position and execution under Project Spring support a long-term growth outlook in the infrastructure and housing sectors.
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Polycab Q3 Net Profit Jumps 43.7% to ₹616.6 Cr; Jaisinghani Brothers Named Joint MDs
Polycab India reported a robust performance for Q3 FY26, with consolidated revenue growing 22.2% YoY to ₹6,844.9 crore. Net profit for the quarter surged by 43.7% YoY to ₹616.6 crore, driven by strong execution in the core Wires and Cables segment. The Board also approved a significant leadership transition, redesignating Mr. Bharat A. Jaisinghani and Mr. Nikhil R. Jaisinghani as Joint Managing Directors for a five-year term. The company continues to maintain healthy margins with EPS rising to ₹40.96 from ₹28.52 in the previous year.
Key Highlights
Consolidated Revenue from Operations increased 22.2% YoY to ₹68,448.85 million.
Net Profit after tax rose 43.7% YoY to ₹6,165.73 million from ₹4,291.13 million.
Wires and Cables segment revenue grew to ₹56,911.30 million, remaining the primary growth driver.
Basic EPS improved significantly to ₹40.96 per share from ₹28.52 in Q3 FY25.
Management transition confirmed with the appointment of two Joint Managing Directors for a 5-year term starting May 2026.
💼 Action for Investors
Investors should view these results positively as Polycab demonstrates strong market leadership and consistent margin expansion. The leadership continuity through the Jaisinghani family members provides long-term stability for the company's strategic goals.
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Polycab Q3 Results: Net Profit Jumps 49% YoY to ₹921 Cr; Revenue Up 47%
Polycab India reported a stellar performance for Q3 FY26, with consolidated revenue growing 46.6% YoY to ₹7,636 crore. Net profit surged by 49.4% to ₹921 crore, driven by robust demand in the core Wires and Cables segment which contributed ₹6,853 crore. The company also ensured leadership continuity by redesignating Bharat and Nikhil Jaisinghani as Joint Managing Directors for a five-year term starting May 2026. These results highlight strong execution and market share gains in the electrical goods space.
Key Highlights
Consolidated Revenue increased by 46.6% YoY to ₹76,359.88 million in Q3 FY26.
Net Profit (PAT) grew by 49.4% YoY to ₹9,210.01 million from ₹6,165.73 million.
Wires and Cables segment revenue grew significantly to ₹68,526.29 million.
Basic EPS rose to ₹61.19 in Q3 FY26 compared to ₹41.00 in Q3 FY25.
Bharat A. Jaisinghani and Nikhil R. Jaisinghani appointed as Joint MDs for a 5-year term starting May 2026.
💼 Action for Investors
The strong double-digit growth in both revenue and profit confirms Polycab's leadership in the cables sector; investors should maintain a positive outlook given the infrastructure tailwinds. Leadership continuity through the Jaisinghani family appointments provides further long-term stability.
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Polycab Q3 Results: Net Profit Jumps 36.6% YoY to ₹842 Cr; Revenue Up 46.6%
Polycab India reported a robust performance for Q3 FY26, with consolidated revenue growing 46.6% YoY to ₹7,636 crore. Net profit for the quarter rose by 36.6% to ₹842 crore, driven primarily by the core Wires and Cables segment which contributed ₹6,853 crore. The company also announced leadership changes, redesignating Bharat and Nikhil Jaisinghani as Joint Managing Directors for a five-year term starting May 2026. For the nine-month period, the company has already surpassed ₹2,564 crore in net profit, reflecting strong operational momentum.
Key Highlights
Consolidated Revenue for Q3 FY26 grew 46.6% YoY to ₹76,359.88 million compared to ₹52,069.87 million in Q3 FY25.
Net Profit after tax increased by 36.6% YoY to ₹8,421.99 million from ₹6,165.73 million.
Wires and Cables segment revenue stood at ₹68,526.29 million, remaining the primary growth engine.
Basic Earnings Per Share (EPS) for the quarter improved to ₹55.82 from ₹40.92 in the previous year.
Board approved the redesignation and appointment of Bharat A. Jaisinghani and Nikhil R. Jaisinghani as Joint Managing Directors until May 2031.
💼 Action for Investors
Investors should take note of the significant top-line and bottom-line growth which indicates strong market share gains and demand in the cables sector. The leadership continuity and consistent margin performance make it a strong hold for long-term portfolios.
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Polycab Appoints Industry Veteran Shashi Amin as CEO - B2B Channel
Polycab India has appointed Mr. Shashi Amin as CEO - B2B Channel and Corporate Communication, effective January 5, 2026. Mr. Amin is a returning veteran who previously served the company for 11 years as President and SBU Head of Cables. He brings over 37 years of specialized experience in the cable industry from leadership roles at Apar Industries and Nicco Corporation. This appointment aims to provide stable leadership for the critical B2B vertical following the departure of the previous head in May 2025.
Key Highlights
Mr. Shashi Amin appointed as CEO - B2B Channel & Corporate Communication effective January 5, 2026.
Brings over 37 years of extensive experience in Sales, Marketing, and P&L Management within the cable industry.
Previously served Polycab for nearly 11 years (July 2011 to March 2022) as President and SBU Head of Cables.
Fills the leadership gap in the B2B vertical following the resignation of the former CBO in early 2025.
💼 Action for Investors
Investors should view the return of a proven internal leader to manage the B2B segment as a positive step for operational continuity. Monitor the B2B segment's growth trajectory under his leadership in the coming fiscal years.