Polycab India Ltd

Resolutions

• Ordinary: revision in remuneration of Bharat A. Jaisinghani, Joint MD; terms not disclosed.
• Ordinary: revision in remuneration of Nikhil R. Jaisinghani, Joint MD; terms not disclosed.

Outcomes

• Resolution 1 approved; 99.73% in favour, 0.27% against; 85.33% shares polled.
• Resolution 2 approved; 99.72% in favour, 0.28% against; 82.03% shares polled.
• Promoter/related parties abstained; their votes not counted.

Senior Management Change

• Mr. Rishikesh Rajurkar, President - Projects, ceases SMP due to reporting-structure change; effective Aug 19, 2026; remains employed.

Investor meetings schedule

• Aug 24, 2026: Millennium Partners, One-on-One, Virtual format.
• Sept 1, 2026: Ashwamedh - Elara India Dialogue 2026, Group/One-on-One, In-person, Mumbai.
• Sept 3, 2026: Group meeting organized by DSP: Group, In person, Mumbai.
• Sept 7, 2026: Baillie Gifford, One-on-One, In-person, Mumbai.
• Sept 10, 2026: UBS India Summit 2026, In-person, Mumbai.
• Sept 11, 2026: Axis Capital Consumer & Tech Conference, Group/One-on-One, In-person, Mumbai.
• Sept 15, 2026: Morgan Stanley Virtual India Industrials & Energy Seminar, Group, Virtual.
• Sept 16, 2026: Jefferies 5th India Forum, Group/One-on-One, In-person, Gurgaon.

Demise of SMP

• Demise of Mr. Diwaker Bharadwaj, President - Automation/Serialization, Packaging and Brand Protection, on August 17, 2026.
• Joined in 2013; strengthened Automation, Serialization, Packaging and Brand Protection functions.

Investor meetings

• Aug 12, 2026: Emkay Confluence 2026 investor conference in Mumbai (in person; group/One-on-One).
• Aug 13, 2026: Equirus Annual India Conference in Mumbai; in-person, group/One-on-One.
• Aug 17, 2026: Motilal Oswal 22nd Annual Global Investor Conference in Mumbai; in-person, group/One-on-One.
• Meetings subject to changes; corporate and earnings presentation will be hosted on Polycab's website.

Key Q1 FY27 highlights

• Q1 FY27 revenue up 39% YoY; PAT ₹7.97bn; Board-approved results.
• EBITDA margin 13.8%; 70 bps QoQ improvement.
• W&C revenue up 39% YoY; domestic growth 43%; W&C EBIT margin 13.3%.
• FMEG growth 71% YoY; solar inverter leading.
• EPC revenues ₹3,077m; EBIT ₹338m; EPC margin ~11%.
• Net cash ₹39.9bn; working capital cycle 15 days.
• Capex ₹3.2bn in Q1; capacity expansion continuing.
• Long-term guidance: growth 1.5x to 2x market through FY30.
• Exports mix: North America 45–50%, Europe 18–20%, Middle East 20–24%.
• Bharat Net fibre supply secured for INR 4.5bn of an INR 8bn project.

Earnings call recording

• Audio recording of the Q1 ended June 30, 2026 earnings call hosted July 16, 2026.
• Recording uploaded on Polycab's website; access via the provided link.

Corporate actions & governance

• Board approved the Unaudited Interim Condensed Financial Statements for quarter ended 30 June 2026.
• Uniglobus Electricals amalgamated with Polycab India; NCLT order 27 February 2026; appointed date 1 April 2025.

Dividend & regulatory updates

• Final dividend proposed/paid: ₹47 per equity share; ₹7,079.85m paid on 30 June 2026.
• EPR obligations under 2025 Rules; framework not yet notified; impact not estimable.

Consolidated highlights

• Consolidated revenue from operations ₹82,097m; total income ₹83,146m for quarter ended 30 Jun 2026.
• PBT ₹10,582m; tax ₹2,616m; PAT ₹7,967m; total comprehensive income ₹7,884m.
• Earnings per share: Basic ₹52.09; Diluted ₹51.94.
• Net cash from operating activities ₹8,186m; investing outflow ₹2,821m; financing outflow ₹8,163m.
• Acceptances outstanding ₹51,407.66m; borrowings non-current ₹358.11m; current ₹693.57m.

Standalone highlights

• Standalone revenue from operations ₹80,344.93m; PAT ₹7,662.75m; EPS ₹50.89.

Q1 FY27 highlights

• Consolidated revenue ₹82,097 Mn, up 39% YoY, down 7% QoQ.
• EBITDA ₹11,362 Mn, up 32% YoY, margin 13.8%.
• PAT ₹7,967 Mn, up 33% YoY; PAT margin 9.7%.
• Wires & Cables domestic revenue grew 39% YoY; international declined 13% YoY.
• FMEG revenue ₹7,612 Mn; 71% YoY growth; Project Spring margin target 8–10% by FY30.
• EPC revenue declined 11% YoY; EBIT margin up ~330 bps YoY and ~340 bps QoQ.
• Order book remains healthy; sustainable operating margin expected in high single digits over the mid-to-long term.
• Net cash ₹39,900 Mn; capex ₹3,166 Mn in Q1FY27; exports ₹2,671 Mn; exports 3.3% of revenue.
• Shareholding: Promoter 61%, FII 19%, DII 5%, QIB+AIF 3%, Others 13%.