Its business operations span across India through 27 manufacturing facilities, 15 offices and 34 warehouses. The company is expanding beyond core cables into consumer electrical products including fans, LED lighting, switchgear, and solar products. Polycab India shares dropped 10% after UltraTech Cement Limited announced its entry into the wires and cables segment, indicating emerging competitive pressures in the core market.
Cyborg Score Rationale
Net profit of Polycab India rose 35.87% to Rs 621.69 crore in the quarter ended December 2025 with robust topline growth. Market leadership position and diversified product portfolio provide competitive advantages. Emerging competition and margin pressures from new entrants present near-term challenges.
Top Insights
Q3 FY26 sales grew 46.12% YoY to Rs 7636.13 crore with net profit growth of 35.87%
FY2024 revenue reached 224.08 billion, an increase of 24.22% from prior year
US tariffs have hurt Indian cable firms like Polycab, impacting margins and exports
The company holds a 26-27% share in the organized domestic wires and cables market
Named Competitors
KEI Wires & Cables — Competitor in wires and cables sector
Sterlite Tech — Cables and telecom infrastructure
Havells — Electrical equipment and consumer durables
RR Kabel — Wires and cables manufacturer
Cement-based cables — New entrant into wires and cables
Recent Developments
(January 2026) Q3 FY26 results show 46% revenue growth and 36% net profit growth
(January 2026) Multiple brokerages including UBS and Goldman Sachs maintain buy ratings
(December 2025) Entry of UltraTech Cement into wires and cables segment creates new competitive dynamic
(November 2025) Employee stock option allotments under company performance scheme
Open the full interactive Polycab India Limited report
Strategic research, analyst-debate audio, full Cyborg Score breakdown across 11 dimensions, and saved-company audio playlists.