Polycab Q2 FY27 results: revenue up 53% to Rs 9,899cr

What the Q2 FY27 print showed

Polycab India’s Q2 FY27 results became a key talking point on social media after the company reported its strongest quarter on revenue and profitability. Consolidated revenue from operations rose 53% year-on-year to Rs 9,898.9 crore. Operating EBITDA expanded 39% year-on-year to about Rs 1,422.5 crore. The company’s EBITDA margin for the quarter was reported at 14.4%. Consolidated net profit increased about 43% year-on-year to Rs 990 crore, based on figures shared in the discussion. Several posts also called out that the quarter set record highs for revenue and profit for Polycab. The narrative online was that growth was broad-based across the core wires and cables business and the fast-moving electrical goods portfolio.

Revenue growth: sharp acceleration vs last year

The most repeated data point in the social chatter was the 53% year-on-year revenue jump in Q2 FY27. This compares with 17.8% year-on-year growth that was cited for Q2 FY26, highlighting a sharp acceleration. Some posts attributed the stronger top line to double-digit volume increases across core cabling and FMEG. Other shared notes pointed to favourable commodity-linked realisations, which can lift reported revenue in a metal-linked category. Polycab’s wires and cables revenue rose 47% year-on-year in Q2 FY27. FMEG revenue surged 124% year-on-year, according to the segment snapshot being circulated. The EPC business also recorded 53% year-on-year revenue growth during the quarter. For the half year, H1 FY27 revenue was cited at Rs 18,108.6 crore, up 46% year-on-year, crossing the Rs 18,000 crore mark.

Profitability: EBITDA up 39% with 14.4% margin

Operating profit was another focus area because the company paired high growth with rising profitability. Q2 FY27 EBITDA was shared at Rs 1,423 crore, up 39% year-on-year. The EBITDA margin was reported at 14.4%, which was frequently described online as an improvement. Net profit for the quarter rose to Rs 990 crore, up around 43% year-on-year. One data point in circulation said PAT margins improved by 260 basis points year-on-year and 50 basis points quarter-on-quarter to 10.7%. The combination of higher revenue and higher operating profit led many commenters to call it a clean “operational beat”. However, the discussions also acknowledged that such quarters can be influenced by price and mix, not only by unit volumes. The key takeaway from the shared metrics was that growth did not appear to come at the cost of operating margins in Q2 FY27.

Segment check: Wires and cables remained the anchor

Wires and cables remained Polycab’s largest business in the narrative shared by investors and analysts. Segment revenue for wires and cables rose 47% year-on-year in Q2 FY27. Within this, domestic revenue was said to have grown 50% year-on-year, supported by strong demand and channel execution. Posts described the market environment as supportive for the category during the quarter. There was also a reference to volume growth in the mid- to high single-digit range for the wires and cables business. At the same time, some social posts spoke about double-digit volume increases across the portfolio, which suggests different interpretations of volume data and mix. A portion of the revenue uplift was linked to favourable commodity-linked realisations, which can benefit reported value growth when input prices rise. Overall, wires and cables were positioned as the steady growth engine, with other segments providing incremental upside.

FMEG: 124% growth and profitability streak

FMEG was the segment most highlighted for its growth rate in Q2 FY27. Revenue for FMEG increased 124% year-on-year during the quarter, based on the shared snapshot. Another widely shared figure put FMEG revenue at Rs 9,931 million in Q2 FY27, which also implied strong sequential growth. Commentary on social platforms framed this as the 11th consecutive quarter of industry-leading growth for the segment. FMEG was also noted as being in its seventh consecutive profitable quarter, which investors often track as a sign of operating discipline. The discussion suggested that the product portfolio is scaling up meaningfully versus prior years. Because FMEG is a consumer-facing business, consistent profitability through growth phases is typically watched closely by the market. The key point from the shared notes was that FMEG is no longer only a growth story, but also a profitability story.

EPC and other lines: growth with modest margins

Polycab’s EPC business also entered the conversation because it posted strong year-on-year growth. EPC revenue was cited at Rs 6,171 million in Q2 FY27, up 53% year-on-year. Some posts also mentioned a sharp sequential increase for EPC compared with Q1 FY27. Despite the growth, EPC was discussed with an eye on margins, because EPC profitability tends to be lower than product segments. An EBIT margin of 7.2% for EPC was referenced in the social summary. Investors often separate the valuation and quality discussion for EPC from the core wires and cables franchise. In the current quarter’s context, the main point was that EPC added to overall revenue momentum. The online conversation did not highlight any specific order book numbers or guidance, so the focus stayed on the reported quarter performance. For readers tracking segment mix, the quarter again reinforced that Polycab’s growth drivers are not limited to a single line of business.

Street and social chatter: beat vs estimates, broker view

A key theme in the market snapshot was that the reported revenue beat the estimate being circulated. The estimate quoted in the discussion was Rs 8,889 crore, versus reported revenue of about Rs 9,899 crore. That gap was referenced as evidence of stronger-than-expected execution in the quarter. CLSA’s stance was also widely shared, with the brokerage maintaining an Outperform rating. The target price mentioned in the posts was Rs 10,240. Social posts also repeated that both revenue and EBITDA grew strongly at 53% and 39% year-on-year, respectively, aligning with the broker commentary. The fact that results were presented on October 15, 2026 was noted in a few threads, helping anchor the timing of the discussion. While social media reactions leaned positive, most of the cited facts stayed tied to the quarter’s reported metrics rather than long-range forecasts. For investors, the immediate watch items became whether this growth rate is repeatable and how margins behave as mix shifts.

Key numbers table and what investors are tracking next

The shared data points make it easy to summarise the quarter in a compact snapshot. The table below consolidates the most frequently cited figures from the Reddit and social posts. It keeps the units consistent with what was reported in the context and avoids extrapolating missing line items. Investors are also tracking how quickly growth normalises after an unusually strong quarter and whether FMEG profitability sustains. Another near-term watch is the balance between value growth and volume growth, given the mention of commodity-linked realisations. Segment mix will matter because wires and cables, FMEG, and EPC carry different margin profiles. Social discussions also pointed to the half-year trend, with H1 FY27 revenue cited above Rs 18,000 crore and up 46% year-on-year. For many market participants, the next data points will be whether domestic wires and cables demand remains strong and whether FMEG keeps compounding from a larger base.