Polycab India Share Price Falls 4% Despite 33% Surge in Q1 Profit; What’s Spooking The Investors?

Polycab India Q1 Result Review

The wires and cables segment delivered a healthy performance in the first quarter of financial year 2026-27, driven by domestic wires and cables revenue growing 42.8% on an annual basis. Overall wires and cables segment also grew by 39% on an annual basis supported by healthy domestic demand, robust execution, and favourable commodity-linked realisations.

"We expect revenue/EBITDA/PAT CAGR of 22.6%/23.0%/22.9% over FY26-28E. We upward revise our FY27/FY28 earnings estimates by 1.8%/2.1% factoring strong demand from domestic markets," noted the PL Capital in its report.

Polycab India Share Price Recommendation

PL Capital maintained a 'Buy' rating for the stock with a target price of Rs 10,764 per share. "We assign a SOTP-based target price of INR10,764 (earlier INR10,503), based on 40x FY28E P/E, and upgrade the stock to "BUY" from "Accumulate", due to recent correction in the stock price and earnings upgrade."

Polycab India Q1 Result

Polycab India reported a 39% year-on-year (YoY) increase in its consolidated revenue to Rs 8,210 crore for the June quarter in FY26. Polycab India's EBITDA increased by 32% on an annual basis to Rs 1,136 crore. The EBITDA surge was driven by improved operational efficiency and a favourable business mix. The EBITDA margin stood at 13.8% and the net profit margin came in at 9.7%.

Polycab India Share Price Trend

The stock opened lower on Friday, and hit an intraday low of Rs 8,850 per share. Polycab India stock touched its 52-week low mark of Rs 6,622 per share on August 12, 2025. The stock surged to its 52-week high mark of Rs 10,128.60 per share on June 26,2026. Polycab India scrip has a return on equity (ROE) of 32.91%. Its share price value has declined close to 10.6% in one month and around 15.6% since the beginning of the year 2026 so far.