Polycab India announced Highest Ever Third Quarter & Nine Months Revenue, EBITDA & PAT
PAT for the quarter increased by 11% YoY to Rs 4,643 Mn. PAT margin expanded by ~80 bps on a sequential basis to 8.9%

Mumbai: Polycab India Limited yesterday announced its results for the third quarter and nine months ended December 31, 2024. Commenting on the performance, Mr. Inder T. Jaisinghani, Chairman and Managing Director, Polycab India Limited, said: “We are thrilled to announce that we have concluded 2024 on a robust note, achieving our highestever revenues for both the third quarter and the nine-month period. This outstanding performance was driven by strong growth across all segments, underscoring our strategic execution and unwavering commitment to excellence. Notably, we have achieved a remarkable milestone of successfully surpassing our first five-year guidance of reaching a Rs 200 Bn top-line by FY26 ahead of time — delivering Rs 210 Bn in revenue for calendar year 2024. Building on this success, we are excited to embark on our next transformative journey to unlock our growth potential for FY30 and further solidify our leadership in the industry with our new vision—Project Spring. Supported by a strong demand outlook, favourable government policies, and our ongoing internal transformation initiatives, I am confident that Polycab is well-positioned to deliver sustained long-term value for all our stakeholders.”
Join PSU Connect on WhatsApp now for quick updates! Click here

Polycab India Key Highlights (Q3 FY25)
- The Company’s revenues grew by 20% YoY to register its highest ever third quarterly revenue, on the back of robust growth across all business segments
- The Wires and Cables (W&C) segment recorded a growth of 12% YoY for the quarter. Demand for cables was healthy, however, downward trend in copper prices and high channel inventory of wires at the beginning of the quarter led to slowdown in the wires business. The international business delivered outstanding performance, posting a remarkable 62% YoY growth and contributing 8.3% to our overall top-line revenue. EBIT margins for the quarter expanded by ~120 basis points QoQ to 13.5%, driven by the normalization of margins in the wires business and increased contribution from the international business
- The FMEG business registered a strong 45% YoY growth, albeit on a lower base. Effective execution of the Company’s strategic roadmap is translating into sustained revenue expansion. Robust growth was witnessed across all major product categories. The fan segment maintained its growth trajectory, as premiumization strategy continued to deliver successful outcomes. After several quarters of degrowth, the lights and luminaires segment achieved significant volume and value growth despite ongoing pricing pressures. The performance was supported by festive demand and the execution of various strategic initiatives. Additionally, the switchgears, conduit pipes & fittings and switches categories also posted healthy growth, driven by sustained demand from the real estate sector. Gross margin expansion, coupled with improved operating leverage, enabled the business to curtail the losses for the quarter
- Other businesses, largely comprising of the EPC business, registered a strong growth of 111% YoY during the quarter to Rs 4,573 Mn, on the back of robust execution of the EPC order book. Contribution from this business is expected to be in mid-to-high single digits to the Company’s consolidated revenue going forward
- EBITDA margins improved ~70 bps YoY and ~230 bps QoQ to 13.8% on the back of normalization in W&C margins and lower losses in the FMEG business, partly offset by moderation in EPC business margins
- PAT for the quarter increased by 11% YoY to Rs 4,643 Mn. PAT margin expanded by ~80 bps on a sequential basis to 8.9%
Polycab India Key Highlights (9M FY25)
- The Company achieved a significant milestone, with nine monthly revenue surpassing Rs 150 Bn for the first time in its history. Revenue grew by 24% YoY to Rs 154,225 Mn from Rs 1,24,475 Mn in 9M FY24
- Wires and cables business revenue grew 15% YoY to Rs 1,27,967 Mn from Rs 1,11,004 Mn in 9M FY24 with healthy growth across both distribution and institutional businesses. The International business contributed 6.6% of the consolidated revenue
- FMEG business grew 27% YoY to Rs 11,884 Mn from Rs 9,292 Mn in 9M FY24
- Other businesses, largely comprising of the EPC business, registered a strong growth of 200% YoY to Rs 14,877 Mn from Rs 4,967 Mn, on the back of robust execution of the EPC order book
- EBITDA grew 12% YoY to Rs 19,349 Mn from Rs 17,303 Mn in 9M FY24. EBITDA Margins stood at 12.5%
- PAT increased by 5% YoY to Rs 13,112 Mn from ? 12,494 Mn, to register highest ever nine-month PAT. PAT margin stood at 8.5%