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Q2 FY27 Presentation 15 October 2026
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Polycab India Limited / Q2FY27 Earnings Presentation Financial Performance Q2 FY27 2
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Polycab India Limited / Q2FY27 Earnings Presentation Key Highlights 3 Top-line (Revenue) Top - line (Revenue) Top-line (Revenue) Margin (EBITDA %) Top-line (Revenue) Profitability (PAT %) Q2FY27: 98,989 Mn 53% YoY 21% QoQ H1FY27: 1,81,086 Mn 46% YoY Q2FY27: 14,225 Mn 39% YoY 25% QoQ H1FY27: 25,587 Mn 36% YoY Q2FY27: 9,900 Mn 43% YoY 24% QoQ H1FY27: 17,867 Mn 38% YoY
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Polycab India Limited / Q2FY27 Earnings Presentation Broad - Based Revenue Growth and Strong Earnings Delivery 4 ▪ The Company delivered strong consolidated revenue growth of 53 % YoY in Q 2 FY 27 , driven by strong performance across all segments and continued execution momentum ▪ EBITDA grew by 39 % YoY during the quarter, supported by healthy margins in both W&C and FMEG businesses, improved operational efficiency, and a favourable business mix ▪ PAT registered a growth of 43 % , while PAT margin stood at 10 . 0 % . H 1 FY 27 PAT increased 38 % YoY, with PAT margins at 9 . 9 %
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Polycab India Limited / Q2FY27 Earnings Presentation Wires & Cables 5
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Polycab India Limited / Q2FY27 Earnings Presentation Strong Execution Driving Continued Growth Momentum 6 ▪ The W&C business delivered strong performance, registering 47 % YoY growth during the quarter, supported by healthy demand across government and private sectors . Both cables and wires grew strongly, with wires leading the growth momentum . Sales across channel and institutional markets remained healthy . ▪ The international business grew 17 % YoY during the quarter, contributing 5 . 0 % to consolidated revenue ▪ Margins improved ~ 90 bps QoQ to 14 . 2 % . Sequential margin improvement was driven by operational efficiencies and a favourable business mix
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Polycab India Limited / Q2FY27 Earnings Presentation FMEG 7
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Polycab India Limited / Q2FY27 Earnings Presentation FMEG Delivers Record Double Digit Profitability Backed By Robust Growth 8 ▪ The FMEG business scaled new heights in Q 2 FY 27 , with revenue more than doubling YoY to attain an all - time high quarterly revenue of ₹ 9 , 931 Mn ▪ Growth remained broad - based across all product categories . Solar products continued to outperform, registering multifold growth and retaining their position as the largest growth driver within the FMEG portfolio . All other categories also recorded very strong growth during the quarter . ▪ Q 2 FY 27 marked a defining quarter for the FMEG business, with EBIT margins reaching a record 10 . 1 % , underscoring sustained progress in profitability
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Polycab India Limited / Q2FY27 Earnings Presentation EPC 9
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Polycab India Limited / Q2FY27 Earnings Presentation EPC Segment 10 ▪ Revenue registered an increase of 53 % YoY for the quarter and 23 % YoY for H 1 FY 27 ▪ EBITDA declined by 39 % YoY but improved by 31 % QoQ . YoY decline was led by one - off gain in the EPC segment in Q 2 FY 26 ▪ The company continues to maintain a healthy order book supporting upcoming execution ▪ Annual sustainable operating margin expected to be in high single digit over mid - to - long term
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Polycab India Limited / Q2FY27 Earnings Presentation Shareholding Pattern 11
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Polycab India Limited / Q2FY27 Earnings Presentation Shareholding Pattern 12 61%18% 5% 3% 13% Q2 FY27 Promoter FII DII QIB + AIF Others Note: As on 30th September 2026. DII (Domestic Institutional Investors) includes “Mutual Funds”. FII (Foreign Institutional Investors) includes "Foreign Portfolio - Corp" and "Foreign Corporate Bodies". QIB/ AIF stands for "Qualified Institutional Buyer"/ "Alternative Investment Fund“.
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Polycab India Limited / Q2FY27 Earnings Presentation Financial Statements 13
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Polycab India Limited / Q2FY27 Earnings Presentation Consolidated Profit and Loss Statement 14 Q2FY27 % Q1FY27 % Q2FY26 % H1FY27 % H1FY26 % Revenue from Operations 98,989 100.0% 82,097 100.0% 64,772 100.0% 1,81,086 100.0% 1,23,832 100.0% Cost of Goods sold 75,623 76.4% 62,520 76.2% 47,209 72.9% 1,38,144 76.3% 90,397 73.0% Contribution (A) 23,366 23.6% 19,577 23.8% 17,563 27.1% 42,943 23.7% 33,435 27.0% Employee Cost 2,657 2.7% 2,615 3.2% 2,305 3.6% 5,272 2.9% 4,494 3.6% Other Operating Expenses 6,484 6.5% 5,601 6.8% 5,051 7.8% 12,084 6.7% 10,158 8.2% Total Operating Expenses (B) 9,141 9.2% 8,215 10.0% 7,356 11.4% 17,356 9.6% 14,652 11.8% EBITDA (A)-(B) 14,225 14.4% 11,362 13.8% 10,207 15.8% 25,587 14.1% 18,784 15.2% Other Income 884 0.9% 1,049 1.3% 454 0.7% 1,933 1.1% 1,254 1.0% Depreciation 1,110 1.1% 1,029 1.3% 968 1.5% 2,139 1.2% 1,825 1.5% Finance Cost 936 0.9% 800 1.0% 484 0.7% 1,736 1.0% 997 0.8% PBT 13,062 13.2% 10,582 12.9% 9,210 14.2% 23,644 13.1% 17,216 13.9% Income Tax 3,162 3.2% 2,616 3.2% 2,280 3.5% 5,778 3.2% 4,289 3.5% PAT 9,900 10.0% 7,967 9.7% 6,930 10.7% 17,867 9.9% 12,927 10.4% Particulars ( ₹ Mn) Quarter Year To Date
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Polycab India Limited / Q2FY27 Earnings Presentation Consolidated Balance Sheet 15 Particulars ( ₹ Mn) Sep-26 Jun-26 Sep-25 Particulars ( ₹ Mn) Sep-26 Jun-26 Sep-25 Assets Equity and Liabilities Non-current Assets Shareholder’s Funds Fixed Assets 53,801 50,965 42,577 Share Capital 1,507 1,506 1,505 Non-current Deposits 452 675 2,723 Reserves and Surplus 1,29,434 1,19,504 1,04,432 Other Non-current Assets 10,481 9,854 8,376 Total Shareholder’s Funds 1,30,941 1,21,010 1,05,937 Total Non-current Assets 64,733 61,493 53,676 Minority Interest 1,431 1,305 968 Current Assets Non-current Liabilities Inventories 69,634 62,044 54,182 Borrowings 260 358 432 Trade Receivables 34,593 33,194 28,146 Others - Non-current Liabilities 4,911 3,909 3,576 Investments 40,131 35,441 16,975 Total Non-current Liabilities 5,171 4,267 4,008 Cash and Bank Balances 5,733 4,835 10,989 Current Liabilities Others - Current Assets 23,128 17,491 7,743 Short-term Borrowings 856 694 839 Total Current Assets 1,73,218 1,53,005 1,18,035 Acceptances 65,560 51,408 29,779 Trade Payables 19,667 16,978 15,749 Others - Current Liabilities 14,325 18,838 14,431 Total Current Liabilities 1,00,408 87,917 60,797 Total Assets 2,37,951 2,14,499 1,71,711 Total Equity and Liabilities 2,37,951 2,14,499 1,71,711
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Polycab India Limited / Q2FY27 Earnings Presentation Consolidated Cash Flow Statement 16 Other Key Data Points Particulars ( ₹ Mn) Q2FY27 Q1FY27 Q2FY26 H1FY27 H1FY26 Net Cash Flow from Operating Activities 8,522 8,186 7,217 16,708 17,905 Net cash flow from/ (used in) investing activities -6,688 -2,821 1,398 -9,509 -9,433 Net cash flow from/ (used in) financing activities -801 -8,163 -5,646 -8,964 -6,176 Net Increase / (Decrease) in cash and cash equivalents 1,033 -2,798 2,969 -1,765 2,296 Quarter Year To Date Particulars ( ₹ Mn) Q2FY27 Q1FY27 Q2FY26 H1FY27 H1FY26 Advertisement and Sales Promotion Expense 405 328 322 733 472 Capex Spends 2,924 3,166 3,347 6,090 7,486 Net Cash Position* 45,199 39,900 29,416 45,199 29,416 Goods in Transit* 6,579 4,340 6,477 6,579 6,477 Exports Revenue 4,931 2,671 4,202 7,601 7,262 Exports Contribution (%) 5.0% 3.3% 6.5% 4.2% 5.9% Quarter Year To Date * as at period end
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Polycab India Limited / Q2FY27 Earnings Presentation Other Financial Metrics 17 * Including Acceptances Working Capital Days Q2FY27 Q1FY27 FY26 FY25 FY24 Q2FY27 Q1FY27 FY26 FY25 FY24 Receivable Days 33 35 40 38 33 36 39 47 42 41 Inventory Days 86 83 78 80 91 96 96 94 79 101 Payable Days* 108 103 93 73 81 134 132 130 72 94 Net Working Capital 11 15 25 44 44 -2 3 12 49 48 Closing Average Other Income ( ₹ Mn) Q2FY27 Q1FY27 Q2FY26 H1FY27 H1FY26 Interest Income 100 168 205 268 394 Gain/ (Loss) on Redemption of Investment 666 737 232 1,404 656 Fair Value of Financial Assets (MTM) - - - - - Exchange Differences (net) - - -61 - 89 Miscellaneous Income 118 144 79 262 115 Total 884 1,049 454 1,933 1,254 Finance Cost ( ₹ Mn) Q2FY27 Q1FY27 Q2FY26 H1FY27 H1FY26 Interest on Bank Borrowings 19 19 15 37 29 Interest on LC, VBD and Leases 783 667 302 1,451 683 Other Borrowing Costs 134 114 167 248 285 Total 936 800 484 1,736 997
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Polycab India Limited / Q2FY27 Earnings Presentation Safe Harbour Notes and General Definitions 18 This release/ communication, except for the historical information, may contain statements, including the words or phrases such as ‘expects, anticipates, intends, will, would, undertakes, aims, estimates, contemplates, seeks to, objective, goal, projects, should’ and similar expressions or variations of these expressions or negatives of these terms indicating future performance or results, financial or otherwise, which are forward looking statements . These forward looking statements are based on certain expectations, assumptions, anticipated developments and other factors which are not limited to, risk and uncertainties regarding fluctuations in earnings, market growth, intense competition and the pricing environment in the market, consumption level, ability to maintain and manage key customer relationship and supply chain sources and those factors which may affect our ability to implement business strategies successfully, namely changes in regulatory environments, political instability, change in international copper, aluminum, oil prices and input costs and new or changed priorities of the trade . The Company, therefore, cannot guarantee that the forward - looking statements made herein shall be realized . The Company, based on changes as stated above, may alter, amend, modify or make necessary corrective changes in any manner to any such forward looking statement contained herein or make written or oral forward - looking statements as may be required from time to time based on subsequent developments and events . The Company does not undertake any obligation to update forward looking statements that may be made from time to time by or on behalf of the Company to reflect the events or circumstances after the date hereof . 1. Numbers on consolidated basis in ₹ million 2. Revenue : Revenue from operations 3. Segment Revenue : Total income (external sales) excluding finance income 4. EBITDA : Excludes other income 5. EBITDA Margin : EBITDA/ Revenue 6. Segment EBIT : Includes other income and excludes finance income 7. Segment EBIT margin : Segment EBIT divided by Segment Revenue 8. PAT : Profit After Tax on reported basis excluding exceptional items and discontinued operations 9. PAT Margin : PAT for the period divided by Revenue 10. Net Cash : Cash & equivalents + Investments + Non - current Deposits – Debt 11. Working Capital : Working capital days on Average basis is calculated using average of balance sheet number and sum of trailing 12 months P&L number . Closing basis uses period close balance sheet number and sum of trailing 12 months P&L number
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Polycab India Limited / Q2FY27 Earnings Presentation 19 THANK YOU Polycab India Limited Contact : investor.relations@polycab.com Website: www.polycab.com Scan for Financial Results Scan for Condensed Financial Statements