NSE to remove Polycab India from F&O Segment from December 30

The National Stock Exchange of India (NSE) on Monday (October 12) said it will exclude Polycab India Ltd from the equity derivatives segment, with no futures and options (F&O) contracts available for trading in the stock from December 30, 2026, after the company was shortlisted under the Insolvency and Bankruptcy Code (IBC) framework.

In a circular dated October 12, the exchange said no new contracts for expiry months will be issued after the October 2026 contracts expire. Existing contracts expiring in October, November and December 2026 will remain available for trading until their respective expiry dates.

The NSE also said a 100% margin will be levied on all existing derivative contracts on a T+2-day basis. This will apply to all open positions as of October 13, 2026, and new positions created from October 14 onwards.

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After the expiry of existing contracts, further surveillance measures, including price bands and gross settlement under the IBC framework, will apply from January 1, 2027. It follows earlier exchange circulars dated August 7 and October 12, 2026, regarding securities under the IBC framework.

First Quarter Results

Polycab India's Revenue for the quarter increased by 39% on a year-on-year basis to ₹8,209 crore, higher than the CNBC-TV18 poll estimate of ₹7,902 crore. Polycab had reported revenue of ₹5,906 crore during the same quarter last year.

The company's Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) for the quarter grew by 32.5% on a year-on-year basis to ₹1,136 crore, marginally higher than expectations of ₹1,062 crore and last year's figure of ₹857.7 crore.

EBITDA margin for the quarter narrowed by 70 basis points on a year-on-year basis to 13.8%. A CNBC-TV18 poll had expected the margins to narrow to 13.4%.

Polycab's wires and cables business revenue grew by 38% on a year-on-year basis to ₹7,202 crore, while its segment EBIT stood at ₹959 crore from ₹756 crore last year. An estimate from Motilal Oswal had pegged the revenue growth at 35%.

Shares of Polycab India Ltd ended at ₹8,414.00, up by ₹164.00, or 1.99%, on the BSE.