Polycab India Ltd Chairman Inder T Jaisinghani has outlined the company’s long-term strategy to strengthen its leadership in core businesses while steadily expanding its international footprint, saying overseas markets will remain a key growth pillar for the company.
In his message to shareholders in the Annual Report 2026, Jaisinghani said Polycab, the largest manufacturer of cables and wires and a leading FMEG player, would continue to invest with discipline, execute with agility and uphold the highest standards of governance and integrity, while building capabilities to enhance its presence in global markets in a measured and sustainable manner.
Reach extends to 94 countries
Highlighting the company’s international progress, Jaisinghani said Polycab expanded its presence into 10 new geographies during FY26, taking its global reach to 94 countries.
He said: “International business remains an important pillar of the company’s long-term growth agenda. During the year we continued to deepen our presence across overseas markets through a calibrated approach focused on market development, customer engagement and product approvals.
“We expanded our reach across 10 new geographies taking our total geographical reach to 94 countries, while continuing to secure approvals and certifications that are essential for scaling sustainably. Our approach remains focused on building a profitable and resilient international franchise that complements the strength of our domestic leadership and supports our broader ambition of emerging as a meaningful global player over time.”
Project Spring remains central to growth plans
Jaisinghani said Project Spring continues to be at the heart of Polycab’s strategic roadmap, supporting leadership in core businesses while enabling disciplined growth across emerging segments.
According to the company, its wires and cables business continued to outperform the industry, remaining on track with its guidance of growing at 1.5 times the industry growth rate. Margins remained within the guided range, supported by operating leverage, product mix optimisation and cost discipline.
Export contribution remained stable during the year, reflecting what the company described as a measured and focused approach to international expansion.
FMEG business outpaces industry growth
The company said its FMEG business continued to outperform its Project Spring targets, growing nearly three times faster than the industry despite multiple market headwinds.
Polycab also reported an improvement in profitability in the segment even as it stepped up investments in brand building, reinforcing confidence in its medium-term growth trajectory.
The company reiterated its commitment to achieving the targets outlined under Project Spring.
₹1,500 crore invested during FY26
Polycab said capital deployment under Project Spring remains measured and outcome-oriented, balancing growth investments with shareholder returns.
The company invested around ₹1,500 crore during FY26 and remains committed to increasing its dividend payout ratio towards 30% by FY30.
According to the company, this disciplined capital allocation framework is designed to ensure sustainable scaling while keeping long-term value creation at the forefront.
Building capacity for future opportunities
Jaisinghani said Polycab continues to invest in capacity expansion, automation and operational efficiency in anticipation of strong long-term demand driven by India’s infrastructure development, electrification and manufacturing growth.
The company also sees significant opportunities emerging from renewable energy, data centres, digital infrastructure and export markets.
Alongside these investments, Polycab has strengthened leadership depth and developed a robust succession framework to support continuity, strategic execution and long-term value creation.