Polycab India Limited (NSE:POLYCAB) informed the BSE and NSE on 16 July 2026 that its Board of Directors, at a meeting held the same day, approved the unaudited standalone and consolidated financial results for the quarter ended 30 June 2026. The consolidated revenue from operations for Q1 FY27 stood at Rs 82,097.32 million, a sharp increase from Rs 59,059.76 million in the corresponding quarter of the previous year. The limited review was conducted by statutory auditors B S R & Co. LLP.
Key Highlights
- The Board meeting was held on Thursday, 16 July 2026, commencing at 12:30 p.m. and concluding at 1:50 p.m., at which the unaudited Q1 FY27 financial results were approved.
- Consolidated revenue from operations for the quarter ended 30 June 2026 stood at Rs 82,097.32 million, compared to Rs 59,059.76 million in Q1 FY26, reflecting year-on-year growth of approximately 39 per cent.
- Total consolidated income, including other income of Rs 1,049.15 million, came in at Rs 83,146.47 million for Q1 FY27, against Rs 59,859.21 million in Q1 FY26.
- Total material cost for the quarter was Rs 62,520.08 million, compared to Rs 43,187.81 million in Q1 FY26, broadly in line with the increase in revenues from operations.
- B S R & Co. LLP, the statutory auditors, issued a limited review report with an unmodified conclusion, stating nothing came to their attention indicating material misstatement in the consolidated statement.
- The consolidated statement covers eight subsidiaries, including Polycab USA LLC and Polycab Australia Pty Ltd, and one joint venture, Techno Electromech Private Limited.
- The results and limited review reports for both standalone and consolidated financials were reviewed and recommended by the Audit Committee prior to Board approval, as required under the Listing Regulations.
About the Company
Polycab India Limited (NSE:POLYCAB, BSE:542652) is one of India's largest manufacturers of wires and cables, with its registered office in Panchmahal, Gujarat, and its corporate office at Dadar (West), Mumbai. The company produces a wide range of power cables, wiring cables, communication cables, and allied products, and has expanded into fast-moving electrical goods (FMEG) such as fans, LED lighting, switches, and solar products. Polycab operates multiple manufacturing plants across India and sells through a distribution network spanning urban and rural geographies. The company is incorporated under CIN L31300GJ1996PLC114183 and is listed on both BSE and NSE.
Announcement in Detail
The Board of Directors of Polycab India Limited convened a meeting on 16 July 2026 and, among other items, approved the unaudited standalone and consolidated financial results for the quarter ended 30 June 2026, together with the limited review reports issued by B S R & Co. LLP, Chartered Accountants (Firm Registration No. 101248W/W-100022). The filing was made under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The results were also reviewed and recommended by the Audit Committee before being placed before the Board.
On a consolidated basis, revenue from operations for Q1 FY27 was Rs 82,097.32 million, up from Rs 59,059.76 million in Q1 FY26 and compared to Rs 88,644.77 million in the immediately preceding quarter ended 31 March 2026. Total consolidated income for Q1 FY27 was Rs 83,146.47 million. Total material costs, comprising cost of materials consumed, purchases of stock-in-trade, changes in inventories, and project bought-outs and subcontracting costs, were Rs 62,520.08 million. Employee benefits expense was Rs 2,614.75 million, finance costs were Rs 800.21 million, and depreciation and amortisation was Rs 1,028.70 million for the quarter.
The limited review covered eight subsidiaries, namely Dowells Cable Accessories Private Limited, Tirupati Reels Private Limited, Steel Matrix Private Limited, Polycab USA LLC, Polycab Australia Pty Ltd, Polycab Electricals & Electronics Private Limited, Polycab Support Force Private Limited, and Polycon Infra Projects Private Limited, along with joint venture Techno Electromech Private Limited. The auditors noted that the interim financials of the eight subsidiaries, reflecting total revenues of Rs 1,969.53 million and total net profit after tax of Rs 307.53 million for Q1 FY27, were audited by other auditors. The overall conclusion of the limited review remained unmodified.
Impact on Investors
Investors will note that consolidated revenue from operations in Q1 FY27 at Rs 82,097.32 million represents a year-on-year increase of approximately 39 per cent over the Rs 59,059.76 million reported in Q1 FY26. The filing shows that total material costs also rose to Rs 62,097.32 million, broadly tracking the revenue increase, which shareholders will observe implies the overall material cost as a proportion of revenue remained a significant factor in the quarter. The disclosed figures do not include net profit after tax in the portion of the announcement provided; investors are encouraged to review the full financial results available on the company's official website at www.polycab.com and on the BSE and NSE portals.
The unmodified conclusion issued by B S R & Co. LLP in the limited review report indicates no material misstatement was identified in the consolidated statement. Shareholders will observe that the results include contributions from international subsidiaries, namely Polycab USA LLC and Polycab Australia Pty Ltd, which adds a degree of currency and cross-border operational exposure to the consolidated numbers. The Audit Committee's review and recommendation prior to Board approval reflects the standard governance process under Regulation 33 of the Listing Regulations, and the results are available on the company's website as well as on the exchange platforms for shareholder reference.
Sector / Market Context
India's wires and cables sector has seen sustained demand driven by infrastructure investment, residential and commercial construction activity, and the government's push for power sector expansion, including the Revamped Distribution Sector Scheme (RDSS) and large-scale electrification programmes. The Union Budget for FY26 maintained a significant capital expenditure outlay for infrastructure, which has historically supported order pipelines for cable manufacturers. The electrical equipment and wires segment also benefits from increasing domestic manufacturing capacity as several large industrial and data centre projects advance across the country.
At the same time, commodity price volatility, particularly in copper and aluminium, which are primary inputs in cable manufacturing, remains a key factor that can affect material costs and margins. Industry data tracked by bodies such as IEEMA (Indian Electrical and Electronics Manufacturers' Association) reflects that the wires and cables segment continues to attract both domestic and export demand, with companies including Polycab expanding their international presence through subsidiaries in markets such as the United States and Australia.