Q2 2026 Polycab India Ltd Earnings Call Transcript
Key Points
- Polycab India Ltd (BOM:542652) reported a strong 18% year-on-year revenue growth for Q2 FY2026, driven by robust performance in the wires and cables business.
- The company achieved its highest ever quarterly profit after tax (PAT) of approximately INR 80.07 billion, reflecting a 56% year-on-year growth.
- EBITDA for the quarter grew by 62% year-on-year, significantly outpacing revenue growth, with a margin improvement to 15.8%.
- The company maintained a strong balance sheet, closing the quarter with a net cash position of INR 29.4 billion.
- Polycab India Ltd's international business recorded a 25% year-on-year increase, contributing 6.5% to consolidated revenue, indicating strong global demand.
- The EPC segment saw a 19% year-on-year decline in revenues due to project execution cycles, impacting overall segment performance.
- Inventory days were marginally higher as the company built up inventory in anticipation of strong demand, affecting working capital temporarily.
- The fans category faced headwinds due to prolonged monsoon season and elevated channel inventory, resulting in marginal growth.
- There are ongoing uncertainties in the US market due to trade negotiations, which could impact future export contributions.
- The company is facing competitive pressures in the wires segment, although it has managed to maintain margins through strategic initiatives.
Ladies and gentlemen, good day and welcome to the Polycap India Limited Q2 FY 2026 earnings conference call.
As a reminder, all participant lines will be in the listen-only mode, and there will be an opportunity for you to ask questions after the presentation concludes. Should you need assistance during this conference call, please signal an operator by pressing, then 0 on your touchstone phone. Please note that this conference is being recorded.
I would now like to hand the conference over to Mr. Gandharva Tongia, executive director and Chief Financial Officer Polyca India Limited.
Thank you and over to you, sir.
Thank you operators.
Good afternoon everyone, and thank you for joining us.
I hope all of you are staying healthy and safe.
I'm Gander Tongev, executive director and CFO at Polycavindia Limited.
On this call we shall discuss the second quarter results which were approved in the board meeting held today.
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