Polycab Results Analysis-Q4FY26

Operating Revenue for Q4FY26 is Rs. 8,864 Crs. (Highest ever quarter, driven by robust execution across both W&C and FMEG business), 26.89% growth YoY, Total Income is Rs. 8,925 Crs., 26.88% growth YoY, Gross Profit is Rs. 2,078 Crs., 16.69% growth YoY, EBITDA is Rs. 1,161 Crs., 13.26% growth YoY, But EBITDA Margin is 13.10% declined by 158 Basis points YoY, PBT Rs. 1,049 Crs. 9.24% growth YoY, PAT Rs. 786 Crs. 6.98% growth YoY On QoQ basis Op. Revenue is up by 16%, Total Income is up by 16.11%, Gross Profit is up by 10.46%, EBITDA is up by 20.21%,, PBT is up by 24.59% and PAT is also up by 24.66%. The domestic W&C business delivered strong performance, registering 30% YoY growth during the quarter, despite multiple industry headwinds. This was driven by execution excellence under Project Spring, which also enabled the company to gain ~4% market share during the year. The international business recorded a 18% YoY increase, contributing 4.4% to consolidated revenues. The FMEG business concluded a strong year with a solid Q4 performance, delivering 47% YoY growth for the quarter. The EPC business Revenue for the quarter was impacted by the timing of the project execution cycle, resulting in a 15% YoY decrease for the quarter.