Polycab India Limited — Q2FY27 earnings call summary

Filed 19 October 2026 · Official transcript

No pricing action yet in response to new entrants; market share gains of 1-1.5% annually continue
Q2 FY27 consolidated revenue grew 53% y-y; EBITDA margin expanded to 14.4%, PAT rose 43% y-y to INR 9,900 million
Management confident on sustaining medium- to long-term EBITDA margins of 11-13% for Wires & Cables and 8-10% EBIT margin for FMEG by FY30
EPC segment revenue grew 53% y-y with 7.2% EBIT margin; order book around INR 9,000-10,000 crores
Net cash at INR 45.2 billion; working capital cycle improved to ~11 days in Q2 FY27
EHV plant commissioning expected in FY28
Copper sourcing 100% imported; no current plans for domestic sourcing
Wires and Cables segment revenue up 47% y-y; domestic wires grew 50% y-y with mid-to-high single-digit volume growth