Q1FY26: Polycab India cuts ad spend by 37% YoY

Polycab India reduced its advertising and sales promotion expenses sharply to Rs 15 crore in the quarter ended June 30, 2025 (Q1FY26), down 37% from Rs 28.7 crore in the previous quarter and 37% lower than Rs 24 crore spent in the year-ago period.

The company’s total marketing outlay for FY25 stood at Rs 121 crore.

Despite the cutback in marketing spend, consolidated net profit surged 49.4% year-on-year to Rs 600 crore in Q1FY26 from Rs 402 crore in Q1FY25, though profit declined 18.3% sequentially from Rs 734 crore in Q4FY25.

Revenue from operations in Q1FY26 was Rs 5,906 crore, up 25.7% compared to Rs 4,698 crore a year ago, but down 15.5% from Rs 6,986 crore in the previous quarter. Total income including other income stood at Rs 5,986 crore, reflecting a 25.8% increase year-on-year.

Segment-wise, the wires and cables business remained the largest revenue contributor, generating Rs 5,229 crore in the quarter, accounting for nearly 87% of total revenue. This segment saw a 30.9% rise from Rs 3,996 crore in Q1FY25 but declined 13.2% from Rs 6,019 crore in Q4FY25.

The fast-moving electrical goods (FMEG) segment reported Rs 454 crore in revenue, up 17.9% year-on-year but down 4.6% sequentially. The engineering, procurement, and construction (EPC) segment contributed Rs 347 crore, a 18.8% drop quarter-on-quarter and down 18.8% year-on-year.

For the full year ended March 31, 2025, Polycab posted consolidated revenues of Rs 22,838 crore with the wires and cables segment generating Rs 19,237 crore. The company’s net profit for FY25 stood at Rs 2,046 crore.

Inder T. Jaisinghani, Chairman and Managing Director, Polycab India Limited, said: “We have started FY 2026 on a strong footing, delivering our highest-ever first-quarter revenue and profitability. Our Wires and Cables business continued to perform well, driven by sustained domestic demand, while our international business also delivered healthy year-on-year growth."

The FMEG segment maintained its positive trajectory, marking its second consecutive profitable quarter, supported by a sharper focus on premium offerings and improved operating leverage.

He further mentioned, "With continued momentum in government spending and improving project execution on the ground, we are confident in our ability to capitalise on the opportunities that lie ahead. As we progress on our five-year roadmap under Project Spring, we remain sharply focused on the strategic pillars that will drive the next phase of Polycab’s growth and transformation.”