Polycab India Limited reported its highest-ever revenue and profitability in both quarterly and annual terms for FY25, with consolidated revenue exceeding ₹22,400 crore and profit after tax crossing ₹2,045 crore.
Polycab India Limited, a leading player in the Indian electrical industry, reported its audited financial results for the fourth quarter and full year ended March 31, 2025. The company delivered record-breaking performance, surpassing the ₹22,400 crore revenue mark for the year, achieving ₹2,045.5 crore in profit after tax (PAT), and registering significant growth across its core segments.
In a statement issued, the company attributed its performance to broad-based growth, execution strength, and progress across strategic business areas. Notably, Polycab achieved its Project Leap FY26 revenue target a year ahead of schedule.
As of 2:20 PM, the share price of Polycab was trading 2.5% higher, hitting an almost three-month high.
The company reported a 110 basis points (bps) YoY improvement in EBITDA margin to 14.7%, supported by profitability in its Fast-Moving Electrical Goods (FMEG) segment and margin improvement in its EPC division.
The Wires and Cables (W&C) segment, which continues to be the backbone of Polycab’s operations, grew by 22% YoY in Q4 FY25. Key contributors included increased government expenditure, strong project execution, robust real estate activity, and favourable commodity price trends. Domestic revenue from this segment rose 27% YoY, with cable sales outpacing wires. International business witnessed a temporary decline due to the deferral of a large order.
The FMEG business posted a strong 33% YoY growth during Q4 FY25, with all product categories performing well. Despite a delayed summer, the fans category grew significantly. Lights, luminaires, switchgears, conduit pipes, fittings, and switches also reported steady growth, buoyed by real estate sector demand. The segment achieved break-even during the quarter, its first profitable quarter after ten consecutive quarters of investment in talent, product innovation, and branding.
The EPC business registered a 47% YoY increase in Q4 FY25, reaching ₹602.8 crore, primarily due to robust execution of the Revamped Distribution Sector Scheme (RDSS) order book.
Polycab surpassed its ₹20,000 crore Project Leap revenue goal well ahead of the FY26 target timeline. The W&C business contributed ₹18,888.1 crore, registering an 18% YoY rise. The company estimates its share in the organised domestic W&C market to be between 26% and 27%. International revenue accounted for 6% of the consolidated figure, with Polycab expanding operations to 84 countries.
The FMEG segment also showed remarkable growth, rising 29% YoY to ₹1,653.5 crore, with solar products witnessing nearly 2.5 times growth and becoming the third-largest category in the segment.
The EPC segment nearly tripled in size, reporting 143% YoY growth to ₹1,919.2 crore.
As of March 31, 2025, Polycab’s net cash position stood at ₹2,460 crore, up from ₹2,140 crore in the previous year. The Board of Directors proposed a dividend of ₹35 per share, reflecting a payout ratio of 26.3%, in line with the company’s long-term Project Spring objective of increasing dividend payout to over 30% by FY30.
Disclaimer: The article is for informational purposes only and not investment advice.
For android only