Polycab India Share Price: Polycab India’s Q4FY26 performance reflected strong revenue momentum but relatively softer profitability, even as brokerages largely retained a constructive outlook on the stock. The company reported a 27 per cent year-on-year rise in quarterly revenue, driven by growth in its core cables and wires (C&W) business and a sharp 39 per cent surge in the FMEG segment led by solar products. However, margins remained under pressure due to a higher share of institutional sales and lower export contribution, resulting in slower profit growth during the quarter.
Despite the mixed margin trajectory, brokerages continue to highlight Polycab’s solid execution, sustained market share gains of 300–400 basis points in FY26, and long-term growth visibility. Elara Capital raised its target price to Rs 8,920 (from Rs 8,180), Morgan Stanley maintained an overweight stance with a target of Rs 8,707, while Goldman Sachs stays neutral but increased its target to Rs 8,140.
Elara Capital on Polycab India
Goldman Sachs on Polycab India
Morgan Stanley on Polycab India
Polycab India reported a steady set of numbers for Q4FY26, with consolidated profit rising 7 per cent year-on-year to Rs 786 crore from Rs 734 crore in the same period last year. Revenue saw a strong jump of 27 per cent to Rs 8,864 crore compared to Rs 6,986 crore, supported by robust demand across segments. EBITDA grew 13.2 per cent YoY to Rs 1,161 crore from Rs 1,026 crore, reflecting healthy operating performance, although margin pressures were visible during the quarter.
The EBITDA margin came in at 13.1 per cent, down from 14.7 per cent a year ago, indicating an unfavorable business mix and cost pressures. Alongside the results, the company recommended a dividend of Rs 47 per share. Polycab also announced an extension of CFO Niyant Maru’s tenure from July 17, 2026, to April 16, 2027, ensuring continuity in its financial leadership.
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