Polycab India appoints Niyant Maru as Chief Financial Officer

Polycab India Limited has appointed Niyant Maru as its Chief Financial Officer (CFO), effective October 28, 2025.

The appointment follows the resignation of Gandharv Tongia, who stepped down as CFO on October 27, citing personal reasons. Last week, the electrical equipment major had announced Maru’s appointment as Executive President – Finance.

Maru, 62, holds a B.Com degree from the University of Gujarat (1984) and is a Chartered Accountant (1988). He brings over 35 years of experience across sectors such as cosmetics, steel, telecom, hospitality, real estate, infrastructure, and aviation.

He spent around 28 years with the Tata Group, most recently serving as CFO of Tata SIA Airlines (Vistara) prior to its merger with Air India, and later as Senior Vice President – Finance at Air India Limited, a position he held until his superannuation in May 2025.

Maru will also continue to serve as an Advisor for the remainder of his current assignment.

Separately, Polycab India reported a 56.7% year-on-year rise in profit to Rs 674.7 crore for the July–September quarter of FY26, compared to Rs 430 crore in the same period last year.

Revenue from operations grew 18% YoY to Rs 6,339 crore in Q2 FY26, against Rs 5,365 crore in Q2 FY25. The company’s first-half FY26 cumulative profit stood at Rs 1,242 crore.