News

Polycab India Q2 Results: One-off gain in EPC business aids margin; Stock falls over 4%Polycab's EBITDA margin for the quarter expanded by more than 400 basis points from last year to 15.8% from 11.5% last year. The number is higher than the CNBC-TV18 poll projection of 14.1%.By Hormaz Fatakia   October 17, 2025, 2:04:33 PM IST (Updated)2 Min ReadChoose  CNBC TV18 on Google

.gglsvg{margin: 5px 0 0;}

.articleWrap a.gglbtn span, .narticle-data a.gglbtn span, .gglbtn span{color: #fff; opacity:1; font: 700 11px/16px Open Sans; }

.articleWrap a.gglbtn, .narticle-data a.gglbtn,.gglbtn{width: 160px; border:none; text-decoration:none; height: 34px; background: #1767FF; color: #fff; font: 700 11px/16px Open Sans; display: flex; padding:0 8px; border-radius: 4px; justify-content: space-between;align-items:center;}

Shares of Polycab India Ltd., the wires and cables manufacturer slumped to the lows of the day, in response to the company's September quarter results, that were reported.

The company's revenue increased by 17.8% from last year to ₹6,477 crore. A CNBC-TV18 poll expects Polycab's revenue to grow by 18% from last year to ₹6,474 crore. Polycab attributed the revenue growth to strong performance in the cables and wires business, and supported by the FMEG business. The growth was partially offset by a decline in the EPC business.

Polycab's Earnings before Interest, Tax, Depreciation and Amortisation (EBITDA) increased by 61% from the year-ago quarter to ₹1,021 crore, while a CNBC-TV18 poll had projected the figure at ₹915 crore.

EBITDA margin for the quarter expanded by more than 400 basis points from last year to 15.8% from 11.5% last year. The number is higher than the CNBC-TV18 poll projection of 14.1%. In its investor presentation, the management said that strong margins in the wires and cables business, coupled with a one-off gain in the EPC segment resulted in a sequential margin improvement.

Revenue from the wires and cables segment increased by 19% from the same quarter last year to ₹5,691 crore, while the FMCG business revenue increased by 13.7% on a year-on-year basis to ₹4,521 crore. Brokerages such as Kotak were anticipating the FMEG revenue to grow by 15% and the core wires and cables segment to grow by 20%.

EPC Segment revenue declined by 19%, but its EBIT grew 42% on a year-on-year basis.

Shares of Polycab India have slumped to the lows of the day, currently trading 2% lower at ₹7,426.5 after the results announcement. The stock is up 4% in the last one month and a similar quantum on a year-to-date basis.

(With Inputs From Upasana Bhatt.)Continue ReadingFirst Published: Oct 17, 2025 12:46 PM ISTCheck out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!TagsPolycabPolycab IndiaQ2 resultsshare market today