Polycab’s consolidated revenue rose 39% year-on-year in Q1FY27 to ₹8,210 crore. The W&C business contributed 87% of Q1 revenues, followed by 9.2% from fast moving electrical goods (FMEG) and the rest from engineering, procurement and construction (EPC) vertical. However, W&C volume growth was in the low- to mid- single-digit, which was a bit of a sore spot. Overall, Ebitda margin fell 70 basis points to 13.8%, partly due to weak exports. This also means a recovery in exports in future, should support margin.
