Polycab India

“We would be happy to operate at a higher end of the guidance that we've given. But as you know, Umang, there are different seasonalities, there are different periods of years where fluctuations will happen, and that is the reason why we stick to our long-term guidance for FY30.”

“So Kevin, you need to understand that the guidance that we have provided is for FY30. So it's a CAGR approach that we have taken in terms of formulating these growth rates.”

“in terms of our EHV plant timelines, we are expecting the EHV plant to now commission somewhere in FY 2028, the next year, though, so FY28.”

“Vidit, the reason is that -- the reason it may happen that the commissioning may start in April, it may start in May. So that's the reason why we are giving you the timeline of the next year of FY28.”

“Roughly the order book, I would say it is close to around INR9,000 crores, INR10,000 crores.”

“We are pretty much confident that we have a very strong order book in place in big markets for us, U.S., Europe, LATAM, Asia, all are contributing significantly to us.”

“The Wires and Cables segment delivered a strong quarter, recording 47% year-on-year revenue growth.”

“Despite challenging geopolitical environment, exports picked up strongly during the quarter as sales grew 17% year-on-year and grew 85% quarter-on-quarter.”

“The FMEG segment delivered a breakthrough quarter, registering a remarkable 124% year-on-year growth with strong performance across all major product categories.”

“Notably, this marks the 11th consecutive quarter of industry leading growth, reflecting the effectiveness of our strategy, execution capabilities and strengthening market position.”

“Solar products, which constitute the largest category within our FMEG portfolio, continue to be the primary growth driver, registering multi-fold growth during this quarter.”

“We delivered a volume growth of mid-to high single-digit range on top of a strong base from the corresponding quarter last year, demonstrating the underlying strength of demand.”

“It was 18% volume growth, and cables have actually grown around 20%.”

“Second half also looks very promising, and it's largely driven through the kind of demand that we're seeing right now. We are seeing healthy growth in the second half as well.”

“If you see the overall cable and wires business, the market is roughly around INR 1.1 lakh crores.”

“And wires is roughly around 30% of that market. Even in that market, 30% to 35% is still unorganized.”

“EBITDA increased by 39% year-on-year, while EBITDA margins expanded by more than 50 basis points sequentially to 14.4%, supported by a favourable business mix and continued focus on operational efficiencies.”

“EBIT margins in the Wires and Cables segment stood at 14.2%. Margins improved sequentially, supported by a favourable product mix and continued operational excellence initiatives.”

“The segment also achieved a major profitability milestone, with EBIT margins crossing the double-digit mark for the first time and recording a 10.1% margin during the quarter.”

“Today, if you see, the fans mix is around 33% in the premium category and the lights also now reaching at 38%. So all of this is actually contributing to the margin growth.”

“If you see our margins, overall margins have expanded around 90 basis points sequentially. So there is the operating leverage that is playing in this segment.”

“Net cash stood at INR 45.2 billion as of September 30th, 2026, compared to INR 29.4 billion a year ago.”

“We also witnessed further improvement in our working capital efficiency, with the average working capital cycle reducing to approximately 11 days in second quarter fiscal '27.”

“This was aided by higher payable days arising from the increased use of letters of credit for our raw material procurement.”

“These are just a part of the kind of the advance payment that we have made towards procurement of some of our inventories. So that is the kind of number you are seeing, the high number, INR1,200 crores roughly number that you're seeing in the cash flow statement. So nothing one-off over there.”

“And as you are aware, we are anyway supplying the conventional part of the data center. Today, if you see, the market is around 1.6 gigawatts, 1.7 gigawatts of capacity in data center.”

“As of now, we are not doing any manufacturing side of it. Whenever we believe that there is an opportunity out there, we would definitely not shy away to do that piece as well.”

“the Honorable NCLAT has stayed and kept in abeyance the order of admission in its entirety, including that of it being a commercial dispute of INR 2.79 crores to set aside the order of admission passed by NCLT and initiation of the Corporate Insolvency Resolution Process, CIRP, against the company.”

“We do not expect any adverse or material impact on our financial or business operations arising from the said situation.”

“Just to give, I think, a clarity, I think the entire case has been heard today, and now probably we have to wait for the actual order which has to come.”

“But however, we don't see any real competition in the near term, simply because that wires market is still very small part of our overall business, and the heat is on the ones who are wires heavy.”

“It is just that the geopolitical situation has dented some of the bookings for us, and obviously, there has been issues with the supply chain globally, where shipping lines have actually moved ahead 10 to 12 days.”

“Consolidated revenue grew by 53% year-on-year, with all business segments contributing meaningfully to this growth momentum.”

“Profitability remained robust, with profit after tax reaching a record high of INR 9,900 million, representing a 43% year-over-year increase.”

“The FMEG segment continued to strengthen its growth trajectory and recorded its seventh consecutive profitable quarter.”

“just to highlight that over the past, every year, we have already gained market share around 1%, 1.5% every year. Last year only we gained 3 to 4 percentage points.”

“On a combined basis of cable and wire industry, even in the organized market, we have called out in our annual report that our market share is around 30% to 31%.”