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

Polycab India Share Price Today: Shares of Polycab India fell close to 3.76% during Friday's trading session a day after the wires and cables company reports 33% surge in profit in June quarter of financial year 2026-27. Strong momentum in the wires & cables (W&C) business and continued momentum in the Fast-Moving Electrical Goods (FMEG) segment were the key highlights from Polycab India Q1 result.

The company scrip was trading 3.43% lower at Rs 8899.65 per share on BSE with a market capitalisation of Rs 1,34,069.25 crore at 1:10 pm on Friday, July 17. The stock had touched an intraday high of Rs 9,199.95 per share and an intraday low of Rs 8,850.00 per share.

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.