470% Dividend Declared: This wire maker announces Rs 47 dividend; check record date

470% Dividend Declared: Shares of Polycab India Ltd. will remain in focus after the company announced June 19, 2026, as the record date for its final dividend for FY26.

The country's largest wires and cables manufacturer has recommended a dividend of Rs 47 per equity share of face value Rs 10 each, translating into a payout of 470 per cent. The dividend is subject to shareholder approval at the company's 30th Annual General Meeting (AGM).

According to the company, eligible shareholders whose names appear in the records as of the close of business on June 19 will receive the dividend after June 30, 2026, subject to applicable tax deductions.

June 19 fixed as record date

In a regulatory filing, Polycab said shareholders holding shares in demat form will be identified through records maintained by depositories, while those holding physical shares will be determined through the company's register of members.

The announcement provides clarity for investors looking to qualify for the dividend payout, with June 19 serving as the key cut-off date.

Strong quarterly performance supports investor sentiment

According to Nuvama Institutional Equities, Polycab's revenue grew 27 per cent year-on-year in the fourth quarter of FY26, while EBITDA increased 13 per cent and adjusted profit after tax rose 6 per cent.

The brokerage noted that all three metrics came in ahead of its expectations, with revenue, EBITDA and adjusted PAT exceeding estimates by 10 per cent, 8 per cent and 11 per cent, respectively.

Market share gains in wires and cables business

Nuvama highlighted that Polycab continued to strengthen its leadership position in the wires and cables segment during FY26.

While fourth-quarter volume growth remained in the low single digits due to a high base, the company delivered 18 per cent volume growth for the full year, the highest among its peers.

The brokerage estimates that Polycab's market share expanded to around 30-31 per cent during FY26, compared with 26-27 per cent in FY25. The company's share of the organised market stood at around 19 per cent in FY19.

The steady increase reflects Polycab's growing presence in a sector that has benefited from strong infrastructure spending, housing demand and industrial expansion.

Margin pressure remains a concern

Despite the strong revenue growth, profitability margins remained under pressure during the quarter.

Nuvama said EBITDA margin declined by around 200 basis points year-on-year due to an unfavourable product mix, higher contribution from cables, increased institutional business, lower export share and weaker operating leverage.

Even so, the brokerage retained its positive view on the stock.

Brokerage raises target price

Following the March-quarter results, Nuvama maintained its 'Buy' rating on Polycab India and raised its 12-month target price to Rs 9,740 from Rs 9,420 earlier.

The revised target reflects confidence in the company's ability to continue gaining market share and benefit from long-term growth opportunities in the wires and cables industry.

Stock slips despite positive outlook

Despite the dividend announcement and upbeat brokerage commentary, Polycab shares ended Tuesday's session lower.

The stock settled at Rs 9,511.20, down 1.91 per cent for the day.