Revenue for the quarter jumped 52.8% YoY to ₹9,899 crore, beating the ₹8,889 crore consensus in the CNBC‑TV18 poll—attributed mainly to strong performance in wires & cables and the FMCG segment.
Net profit surged to ₹977 crore, up 42.6% from ₹684 crore in the same period last year, and outpaced the ₹821 crore expectation. The jump reflects higher sales volume and tighter cost control.
EBITDA margin contracted to 14.37% from 15.8% a year earlier, a shrink of 150 basis points. Nevertheless, the margin is 0.7 percentage points above the 13.7% forecast, alleviating earlier margin‑pressure concerns.
Polycab shares are trading 0.4% higher at ₹8,372, still under Stage 0 of the IRP resolution mechanism, which requires a 100% upfront margin. Market watchers are wary of potential MSCI index exclusion, which could trigger outflows.
The company will announce Q3 results next quarter; analysts are watching for guidance on EBITDA margin and capital expenditure. Investors may consider the resilient earnings trend but keep an eye on margin trends and index eligibility risks.