Polycab India Ltd. Share Price

Polycab and KEI report strong Q2FY27 revenue growth

Polycab India and KEI Industries have reported their Q2FY27 results amid a sharp correction in wires and cables stocks. Higher commodity realisations are boosting reported revenue across the industry. Polycab’s revenue grew 53% YoY, EBITDA rose 39%, and PAT increased 43%. Underlying volume growth remained in the mid-to-high single digits. KEI Industries reported revenue growth of around 39% YoY and EBITDA growth of 29%. Management expects over 10% volume growth for FY27 and margins of around 11%, compared with the earlier band of 11-12%. Polycab expects to grow at 1.5x the industry growth rate over the long term. KEI expects FY27 revenue growth close to 30% and over 20% CAGR over the medium term. The key triggers are the strong reported revenue growth at both companies, driven largely by higher commodity realisations, alongside moderate underlying volume growth. This supports near-term top-line momentum in the wires and cables space, though margin sustainability will depend on volume recovery and cost pass-through. Peers such as RR Kabel, Finolex Cables, and Universal Cables may face comparison on volume growth and margin trends. Near-term prices could remain volatile given the recent sharp correction in the sector, with results providing support on the top line. Risks include softer volume growth if demand moderates or sustained margin pressure from commodity volatility. Competitors listed: RR Kabel, Finolex Cables, Universal Cables

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KEI Industries expects over 10% volume and 25% revenue

KEI Industries Limited (KEI) CMD Anil Gupta has guided for over 10% volume growth and 25% revenue growth in FY27. He also said the Sanand EHV facility is expected to commence by the end of March 2027. The company expects FY27 volume growth to be over 10% and revenue growth to be 25%. The Sanand EHV facility is slated to commence by end-March 2027. Management noted that West Asia market demand is present but logistics remain an issue. On UltraTech’s entry into the wires and cables segment, the company said the Street is taking the impact on incumbents too seriously and does not expect price-cut-led competition. The key triggers are the FY27 guidance of over 10% volume growth and 25% revenue growth, along with the timeline for the Sanand EHV facility. This supports the view of capacity-led growth in the wires and cables segment. Peers such as Polycab India, RR Kabel, and Finolex Cables may face comparison on volume growth and competitive response to new entrants. Near-term prices could react positively to the growth guidance and management’s confidence on pricing discipline. Risks include delays in the Sanand EHV commissioning or logistics challenges impacting West Asia exports. Competitors listed: Polycab India, RR Kabel, Finolex Cables.

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Polycab: Wires and cables demand supports growth

### Polycab: Wires and cables demand supports growth Polycab India Limited (NSE: POLYCAB) operates across wires, cables and fast-moving electrical goods. Demand from power infrastructure, real estate, industrial investment and renewable energy creates opportunities for its core business. **Why it matters:** Higher infrastructure spending can support cable demand, while distribution expansion and premium products can improve the business mix. However, copper and aluminium prices, competition and working-capital requirements can affect margins and cash flows. **My view:** Polycab's long-term performance depends on sustaining market share while expanding profitability. Investors should distinguish revenue growth driven by higher volumes from growth caused by commodity-price changes. **What to watch:** Wires and cables volume growth, segment margins, dealer demand, raw-material costs, exports and the contribution of its electrical goods business. **Stance:** The electrification theme is supportive, but earnings growth, margin sustainability and valuation remain central to the investment case. Disclosure: I am a SEBI Registered Research Analyst. This content is for educational purposes and is not a recommendation to buy or sell any security.

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Polycab India insolvency plea over ₹2.79 crore stayed

Polycab India Limited (

) faced insolvency proceedings over an alleged operational debt of ₹2.79 crore. The NCLAT later stayed the admission order, even as the company reported a net cash balance of ₹4,194 crore in FY26. The case highlights a growing issue under the Insolvency and Bankruptcy Code (IBC). A supplier's insolvency petition against a financially strong company can create significant commercial pressure regardless of the company's balance sheet strength. What matters is not the size of the claim but the consequences of admission into the Corporate Insolvency Resolution Process (CIRP). For listed companies, insolvency admission can affect investor confidence, lender relationships, regulatory disclosures and business continuity. That creates leverage for operational creditors even when disputed dues are relatively small compared with the corporate debtor's financial resources. The headline may suggest a company-specific problem. The broader takeaway is that the case raises questions about how the IBC is being used in commercial payment disputes. Legal experts cited in the report noted that insolvency proceedings are often used as a pressure tactic for payment recovery, despite courts repeatedly stating that the IBC is intended to address genuine financial distress rather than function as a debt-recovery mechanism. The data also shows the scale of the issue. As of 30 June 2026, operational creditors had initiated 4,162 insolvency proceedings, reflecting how frequently the route is being used. View: The key implication is regulatory and legal rather than financial. For Polycab, the case appears more relevant as a governance and procedural overhang than a balance sheet concern based on the figures disclosed. Disclosure: This post is for educational purposes only and should not be construed as investment advice.

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⚡ POLYCAB INDIA — INDIA’S ELECTRIFICATION MEGATREND! 🚀

From power grids to smart homes and data centres, the next phase of India's growth needs one essential ingredient: wires and cables. Polycab India is a leading player in wires and cables, with an additional presence in fast-moving electrical goods (FMEG). Its advantage lies in brand strength, distribution reach, manufacturing scale and exposure to India's expanding infrastructure needs. 📊 Q2 FY27 — RECORD GROWTH MOMENTUM 💰 Consolidated revenue: ₹9,899 crore, up 52.8% YoY. 🚀 Operating profit: ₹1,423 crore, up 39.4%. 📈 Net profit: ₹990 crore, up approximately 42.9%. For H1 FY27, revenue crossed ₹18,100 crore, reflecting strong business momentum. 🔥 WHAT COULD POWER THE NEXT LEG? ✅ Infrastructure boom: Transmission, distribution, renewable energy and industrial projects require extensive cable networks. ✅ Real estate and housing: Urbanisation, new construction and renovation support demand for residential and commercial wiring. ✅ Data centres and digitalisation: Expanding digital infrastructure creates additional demand for reliable power connectivity. ✅ Market-share gains: Polycab reported a 3–4 percentage-point increase in domestic market share during FY26, according to its annual results announcement. ⚠️ RISKS TO WATCH Copper and aluminium price swings, competition, execution and valuation can affect returns. Polycab has also faced an insolvency-related legal dispute over an alleged ₹2.79 crore operational debt; the appellate tribunal stayed the admission order pending further proceedings. The company said its operations remained unaffected. 🎯 THE BOTTOM LINE Polycab offers exposure to India's electrification, infrastructure and digital-capacity expansion, backed by strong recent revenue and profit growth. The long-term opportunity is powerful — but sustainable margins, cash generation and the price paid will determine investor returns.

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PRE MARKET--> BANKNIFTY LEVELS & IMPORTANT UPDATES...

PRE-MARKET REPORT | 19 OCTOBER 2026 FII Buying Returns, But Crude Near $108 Keeps Markets Cautious | Polycab & Persistent in Focus Market Outlook: Cautious to Selectively Positive | Flat Opening Likely | Stock-Specific Opportunities Indian markets enter Monday's session with mixed signals. Foreign institutional investors (FIIs) returned as net buyers in the cash market on Friday after 15 consecutive sessions of selling. However, domestic institutional investors (DIIs) were net sellers, while crude oil remains near elevated levels despite a modest pullback. --->GLOBAL CUES: ASIAN MARKETS WEAK, US FUTURES RECOVER GIFT Nifty: Around 23,131 in early trade, indicating a muted opening compared with Friday's Nifty close of 23,146.15. Asian markets: Trading lower amid concerns over the scale of global AI investments and the outlook for technology earnings. US futures: Rebounded in early Asian trade, offering some support to global sentiment. Crude oil: Brent eased from Friday's high near $110 to around $108 per barrel, but remains expensive for major oil-importing economies. --->FII–DII DATA: FOREIGN BUYING RETURNS Institutional activity on Friday, 16 October 2026 Category Net Activity (₹ Cr) FII Cash Market +1,165.92 DII Cash Market −3,661.28 FII Index Futures +1,024.71 FII Index Options +665.14 FII Stock Futures −687.73 FII Stock Options −110.72 --->BANK NIFTY: 55,450 SUPPORT, 55,650 RESISTANCE Key levels for Monday Immediate support: 55,450 Immediate resistance: 55,650 --->STOCKS TO WATCH

PERSISTENT WIPRO TECHM --->BOTTOM LINE Bank Nifty's 55,450 support and 55,650 resistance are the key trading reference points. Polycab offers a strong earnings-growth story, while Persistent requires closer monitoring because brokerage views differ after its latest results.

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