Polycab India Limited announced a final dividend of ₹47 per equity share for the financial year ended March 2026, as recommended by its Board of Directors at the meeting held on May 06, 2026. The announcement coincides with the company's submission of financial results for the period ended September 30, 2026, filed with the NSE on October 15, 2026.

Dividend Details and Year-on-Year Comparison

The declared final dividend of ₹47 per share represents a 34.3% increase over the ₹35 per share paid in FY25. This is a face value of ₹10 per share, making the FY26 payout 470% of face value. The dividend is subject to shareholder approval at the ensuing Annual General Meeting.

Dividend Growth Trajectory: A Consistent Upward Trend

Polycab's dividend history reflects a disciplined and accelerating shareholder return policy. The per-share payouts over the years are as follows:

From FY19 to FY26, the annual dividend per share has grown at a compound annual growth rate (CAGR) of approximately 48%, indicating the company's sustained improvement in cash generation and its commitment to distributing surplus capital to shareholders.

Dividend Yield in the Absence of Current Market Price

The NSE trade data and current market quote for POLYCAB were not available at the time of this report. As a reference, at the 52-week high recorded in prior trading periods, the dividend yield would vary materially versus levels near the 52-week low. Investors are advised to calculate the yield as ₹47 divided by the prevailing market price to assess the income return relative to their acquisition cost. Given that Polycab has historically traded at a significant premium to book value in the electrical and cables sector, the dividend yield is expected to remain modest in absolute percentage terms, consistent with high-growth industrial peers.

Company Background

Polycab India Limited is one of India's largest manufacturers of wires, cables, and fast-moving electrical goods (FMEG). The company's product portfolio spans power cables, communication cables, solar cables, switches, fans, and lighting. It is listed on both BSE and NSE under the ISIN INE455K01017. Polycab has a pan-India distribution network and has been steadily expanding its FMEG segment as a proportion of overall revenues.

What This Means for Investors

The 34.3% jump in dividend per share in FY26 signals that Polycab's management is confident about the company's free cash flow position even as it continues to invest in capacity expansion and the FMEG business. The consistent multi-year uptrend in dividends, with not a single year of reduction since listing in 2019, reflects financial stability and a shareholder-friendly capital allocation approach. Investors holding the stock for income should note that the absolute payout has grown more than 15 times since the company's first dividend in FY19. Those evaluating the stock on a total-return basis should weigh the dividend trajectory alongside the company's earnings growth and any updates from the September 2026 quarterly results filed simultaneously with the exchange.