Surge in domestic W&C volume, capturing the national infrastructure upcycle
Our consumer business executed a textbook turnaround, successfully driving profitability through premiumisation. By institutionalising micro-market strategies and customising solutions for sunrise sectors, our FMEG segment posted consecutive profitable quarters, demonstrating agility in future-ready categories and capturing the needs of more premium-seeking consumers.
Average working capital cycle
Aggressive, multi-dimensional growth demands a strong foundation. To sustain our trajectory, we rapidly upgraded our manufacturing capabilities, integrated advanced automation, and fully digitised our supply chain. By embedding a culture of operational excellence across our enterprise, we established the strategic agility required to proactively navigate and respond to market shifts.
Y-o-Y growth in our Solar portfolio, becoming the largest and most dynamic FMEG growth engine
Funding the Future
Executing a monumental `60 to `80 billion strategic transformation typically strains a balance sheet. Yet, Polycab’s operational discipline allowed us to fund our aggressive growth entirely through internal accruals. Even after deploying `14.8 billion towards active capacity expansions and automation this year, we maintained a fortress balance sheet, closing the recent period with over `41.9 billion in net cash. The first year of Project Spring proves that true market leadership isn't just about growing fast; it’s about growing with absolute financial resilience
