Polycab India names new CFO amid record Q2 FY2026 earnings

Polycab India Limited announced a leadership transition, with Niyant Maru appointed as executive president, finance (effective October 17, 2025) and chief financial officer (CFO) (effective October 28, 2025). He succeeds Gandharv Tongia, who served as executive director and CFO. This change was disclosed on October 28, 2025, alongside the submission of the Q2 FY 2026 Earnings Conference Call transcript from October 17, 2025.

The company reported a strong Q2 FY 2026, achieving its highest-ever second quarter and half-yearly revenue, driven by robust performance in its Wires & Cables and FMEG businesses. PAT for the quarter reached approximately INR 700 crores, contributing to a record half-yearly performance. Polycab's consolidated revenue grew by 18% YoY, with EBITDA increasing by 62% YoY, and PAT by 56% YoY.

Polycab highlighted its strong balance sheet, with a net cash position of INR 29.4 bn, and confirmed its Project Spring guidance of investing INR 12-16 bn annually through FY 2030. The company also announced that income tax department assessment orders, resulting in a total tax demand of INR 525.63m and interest of INR 175.58m, were appealed, and the CIT(A) allowed the appeals in full, resulting in NIL tax demand.