Our core cables and wires (C&W) business remained the primary engine of our momentum. By aligning our operations with India's infrastructure boom, we achieved high-teen to 33% year-on-year revenue growth in this segment. This surge was backed by accelerated government capital expenditure, improved project execution and a healthy resurgence in privatesector activity.

Concurrently, our Fast-Moving Electrical Goods (FMEG) segment continued its positive trajectory, achieving consecutive profitable quarters throughout the year. This sustained success is the direct result of a deliberate pivot towards premiumisation and an optimised product mix. Furthermore, solid real estate-linked demand enabled us to successfully capitalise on the ongoing residential upcycle.

Crucially, our top-line momentum translated into significant value creation, while maintaining a robust balance sheet and a highly liquid cash position. This financial strength has enabled consistent, selffunded capacity investments through our Project Spring roadmap. Looking ahead, structural industry tailwinds, spanning rapid infrastructure expansion, renewable energy integration, real estate development, and global exports, will continue to drive sustained growth, positioning Polycab to confidently advance its long-term strategic objectives.