Polycab India Q1 Results FY27: Net Profit Beats Estimates, Rises 32.5% to Rs 784 Crore

Polycab India Q1 results FY27 were announced on Thursday, 16 July 2026, with the wires and cables major reporting a consolidated net profit of Rs 784.3 crore, up 32.5% from Rs 592 crore in the year ago quarter, comfortably beating the CNBC-TV18 poll estimate of Rs 713 crore. Revenue in the Polycab India Q1 results FY27 surged 39% year on year to Rs 8,209.7 crore from Rs 5,906 crore, also ahead of the polled estimate of Rs 7,902 crore.

EBITDA came in at Rs 1,136 crore, up 32.5% from Rs 857.7 crore, beating the Rs 1,062 crore estimate, with margin at 13.8% against the poll’s 13.4% expectation, though down from 14.5% a year earlier. Shares of Polycab India fell 1.34% to close at Rs 9,200.00 despite the beat across every metric.

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Polycab India Q1 results FY27 Financial Highlights

The June quarter delivered a comprehensive beat against street estimates on revenue, EBITDA and net profit, a combination central to the Polycab India Q1 results FY27. The table below summarises the consolidated numbers against the year ago quarter and the CNBC-TV18 poll estimates.

Metric	Q1 FY27 Actual	CNBC-TV18 Poll	YoY Change
Revenue	Rs 8,209.7 Cr	Rs 7,902 Cr	+39%
EBITDA	Rs 1,136 Cr	Rs 1,062 Cr	+32.5%
EBITDA Margin	13.8%	13.4%	-70 bps YoY
Net Profit (PAT)	Rs 784.3 Cr	Rs 713 Cr	+32.5%

Despite beating estimates on every headline metric in the Polycab India Q1 results FY27, EBITDA margin of 13.8% came in below the 14.5% reported a year earlier, a nuance that may explain the stock’s negative reaction even as absolute profit and revenue both surpassed expectations.

Polycab India Q1 results FY27 Performance Analysis

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The scale of revenue growth at 39% in the Polycab India Q1 results FY27 reflects continued strong demand for wires and cables, driven by robust execution across the company’s domestic and export order book, alongside contribution from its expanding FMEG (fast moving electrical goods) segment.

The year on year EBITDA margin decline to 13.8% from 14.5%, even as the company beat the margin estimate itself, suggests input cost pressures, particularly copper and aluminium prices, or a mix shift toward lower-margin segments partially offset the benefits of strong volume growth.

The stock falling despite a clean beat across revenue, EBITDA and PAT in the Polycab India Q1 results FY27 illustrates how a rich starting valuation can mean even good results fail to satisfy the market, especially when a key margin metric like EBITDA margin shows year on year compression.

Polycab India Q1 results FY27: Key Business Factors

1. Strong Wires and Cables Demand

Robust demand across domestic infrastructure, real estate and industrial capex, alongside export growth, powered the 39% revenue surge in the Polycab India Q1 results FY27, a standout growth rate for a company of this scale.

2. Margin Compression from Input Costs

EBITDA margin easing to 13.8% from 14.5% a year ago suggests copper and aluminium cost pressures, or a mix shift, weighed on profitability even as absolute earnings grew strongly.

3. FMEG Segment Contribution

Growth in the company’s fast moving electrical goods segment, alongside the core wires and cables business, contributed to the broad-based revenue strength this quarter.

Dividend Details

No new dividend was announced specifically alongside the Polycab India Q1 results FY27. Investors should watch for the company’s dividend history and future board meeting announcements to gauge its capital allocation approach going forward.

Polycab India Q1 results FY27 Outlook for the Full Year

Whether the company can arrest the year on year margin decline while sustaining its exceptional revenue growth will be the key question for investors tracking the September quarter. Management commentary on copper and aluminium cost trends, export order momentum, and FMEG segment profitability will offer important context for the rest of FY27.

Polycab India Stock Performance After the Q1 Results

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Polycab India share price fell 1.34% to close at Rs 9,200.00 on the NSE after the Polycab India Q1 results FY27, despite the company beating street estimates on revenue, EBITDA and net profit.

The negative reaction despite the beat likely reflects the year on year EBITDA margin compression and the stock’s already elevated valuation, where strong absolute growth numbers were not enough to satisfy heightened investor expectations.

Key Risks

Investors going through the fine print of the Polycab India Q1 results FY27 should also weigh the following risks.

1. Commodity Input Cost Volatility

As a wires and cables manufacturer, profitability is sensitive to copper and aluminium price movements, and continued cost pressure could further compress the margin trends visible in the Polycab India Q1 results FY27.

2. Premium Valuation Risk

Trading at a rich valuation reflecting years of consistent execution, the stock has limited room for error, and any further margin disappointment could trigger sharper corrections.

3. Competitive Wires and Cables Industry

The wires and cables and FMEG segments remain competitive, with multiple organised and unorganised players vying for market share, which could pressure pricing power over time.

Conclusion

Polycab India Q1 results FY27 show a clean beat, with PAT up 32.5% to Rs 784.3 crore and revenue up 39% to Rs 8,209.7 crore, both ahead of street estimates, even as the stock fell on year on year EBITDA margin compression to 13.8% from 14.5%. Strong revenue growth is the headline positive in the Polycab India Q1 results FY27, against the margin trend and premium valuation. Investors should track cost pressures and consult a SEBI-registered advisor before acting on the numbers.

Frequently Asked Questions on Polycab India Q1 results FY27

When were the Polycab India Q1 results FY27 announced?

Ans. The Polycab India Q1 results FY27 were announced on Thursday, 16 July 2026, for the quarter ended 30 June 2026.

What is the PAT in Polycab India Q1 results FY27?

Ans. The PAT in Polycab India Q1 results FY27 stood at Rs 784.3 crore, up 32.5% from Rs 592 crore in Q1 FY26, beating the CNBC-TV18 poll estimate of Rs 713 crore.

What was the revenue in Polycab India Q1 results FY27?

Ans. Revenue in the Polycab India Q1 results FY27 surged 39% year on year to Rs 8,209.7 crore from Rs 5,906 crore, ahead of the Rs 7,902 crore street estimate.

Why did Polycab stock fall despite beating estimates in Q1 FY27?

Ans. Despite beating on revenue, EBITDA and PAT, Polycab stock fell after the Q1 results FY27 as EBITDA margin of 13.8% came in below the 14.5% reported a year earlier, alongside the stock’s already elevated valuation.

What is the EBITDA margin in Polycab Q1 results FY27?

Ans. EBITDA margin in the Polycab India Q1 results FY27 stood at 13.8%, ahead of the 13.4% street estimate but down from 14.5% in Q1 FY26.

How did Polycab India share price react to the Q1 results FY27?

Ans. Polycab India share price fell 1.34% to close at Rs 9,200.00 on the NSE after the Polycab India Q1 results FY27, despite the company beating estimates.

Is Polycab India a good buy after the Q1 results FY27?

Ans. The Polycab India Q1 results FY27 show a clean beat on revenue and profit, though year on year margin compression and premium valuation are factors to watch. This article is for educational purposes only. Consult a SEBI-registered advisor before investing.