Polycab India Shares Fall Despite Record Q1FY27 Profits

Shares of Polycab India Limited fell approximately 4% on the BSE on July 17, 2026, despite the company reporting record financial performance for the first quarter of FY27. For the quarter ended June 30, 2026, consolidated revenue rose 39% year-on-year to ₹8,210 crore, and net profit increased 33% to ₹797 crore.

Growth was driven by a 39% year-on-year increase in the Wires & Cables segment and growth of 68-71% in the Fast-Moving Electrical Goods segment, largely fueled by solar products. However, investors reacted negatively to a dip in the consolidated EBITDA margin, which fell to 13.8% from 14.5% the previous year. Concerns also emerged that revenue growth was primarily driven by higher copper and aluminium commodity prices rather than volume growth, which remained in the low-to-mid single digits. Additionally, the company's international business declined 13% due to geopolitical disruptions.

In a separate research report dated July 16, 2026, Prabhudas Lilladher upgraded Polycab India Limited to a BUY rating from Accumulate, setting a target price of Rs 10,764. The firm cited a recent stock price correction and upwardly revised earnings estimates for FY27 and FY28. Following a June 30 annual general meeting, the company paid a final dividend of ₹47 per share.