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Polycab India Limited POLYCAB NIFTY_MIDNSEAIINFRA

Industrials · Electrical Equipment & Parts · India
https://www.polycab.com
Company Profile ↓
₹9,517.00
+41.01% 1Y
Mkt Cap₹1.43 L Cr
P/E53.78
P/B11.67
Div. Yield0.51%
52W High₹10,083.00
52W Low₹6,666.37
Book Value₹797.64
EPS (TTM)₹176.95

Company Overview

Polycab India Limited manufactures and sells wires and cables under the POLYCAB brand in India and internationally. The company operates through three segments: Wires and Cables; Fast Moving Electrical Goods (FMEG); and Engineering, Procurement and Construction (EPC). The Wires and Cables segment provides wires, such as PolycabSuprema house wires, PolycabMaxima+ Green wire, PolycabPrimma house wires, ETIRA house wires, PolycabOptima+, GREENWIRE 180m, and POLYCAB LF FR 180m; and cables, such as control, rubber, defense, special, fire protection, marine offshore/onshore, domestic appliance and lighting, aerial bunched, industrial, high temperature, LV power, MV power, EHV power, communication and data, and instrumentation. The Fast Moving Electrical Goods segment offers ceiling, table, pedestal, wall, exhaust, farrata, and air circulated fans; LED lighting and luminaires, such as LED Bulb, downlight, panel light, led batten, outdoor lights, and rope and strip lights; water heaters; switches and accessories; switchgears consisting of isolators, MCB, RCCB, RCBO, distribution board, ACCL, and MCB changeover switches; solar products, including solar panel and invertors; and pumps, conduits, and domestic appliances. The EPC segment designs, engineers, and supplies materials; and engages in the survey, execution, and commissioning of turn-key power distribution, transmission, and rural electrification projects. The company provides coolers and iron appliances. It operates a distribution network through authorized dealers and distributors, and retail outlets. The company was founded in 1964 and is based in Mumbai, India.

Why Investors Should Care

Strong Return on Equity

Generates a return on equity of 22.2%, reflecting efficient use of shareholder capital.

Healthy Capital Returns

Return on capital employed stands at 30.4%.

Consistent Profit Growth

Net profit has compounded at 28.1% per year over the last five years.

Steady Revenue Expansion

Revenue has grown at a 26.6% CAGR over the past five years.

Conservative Balance Sheet

Carries low leverage with a debt-to-equity ratio of 0.37.

Positive Free Cash Flow

Generates positive free cash flow, funding growth and shareholder returns internally.

Recent Developments

  • Mar 2026 Revenue of ₹28,269.51 Cr (+28.3% YoY); net profit ₹2,672.03 Cr.
  • Trailing 12 Months Year-on-year growth — revenue +28.3%, earnings +32.3%.
  • 5-Year Trend Long-term compounding — revenue CAGR 26.6%, profit CAGR 28.1%.

Growth & Price Performance

Compounded Sales Growth

5 Years:26.57%
1 Year:28.31%

Compounded Profit Growth

5 Years:28.11%
1 Year:32.28%

Stock Price Performance

1 Year:+41.01%
6 Months:+24.43%
3 Months:+20.99%
1 Month:+0.06%

Highlights auto-generated from reported financials and price data; not investment advice. Verify with official filings before acting.

AI Exposure AI Cables / AI in Mfg
Core Focus

Polycab uses AI in cable manufacturing quality control, supply chain forecasting and digital go-to-market.

Key Initiatives
  • AI in manufacturing & quality Polycab uses AI/IoT for predictive maintenance, quality control and yield optimisation across its cables and wires plants.
  • AI in distribution & demand Machine-learning demand forecasting and distributor analytics sharpen its extensive channel network.
  • Smart products & FMEG AI-enabled smart switches, lighting and connected-home products extend the FMEG portfolio.
Why Investors Should Care
  • AI is an efficiency lever on a fast-growing wires/cables and FMEG leader.
  • Excellent returns (ROCE ~34%) and ~25% five-year revenue/profit CAGR.
  • Beneficiary of India's electrification, construction and infrastructure capex.
  • Premium P/E ~54 reflects strong growth and market leadership.
AI InvestmentTech + AI in factory floors.
AI RevenueRevenue ~₹22,000 Cr.
ROI (Now)EBITDA margin ~13-14%.
ROI (Expected)AI-led ops + B2C wires growth.

Curated from public filings and analyst commentary; figures are illustrative.

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Price Chart

NSE TradingView

Fundamental Growth Charts

Interactive charts for Revenue, Net Income, EBITDA, Free Cash Flow, EPS, ROE, ROCE, Gross/Net/Operating Margin and more — switch metric and period using the dropdowns above. CAGR is computed across the displayed window (quarterly CAGR is annualised). Visual growth charts make it easy to spot multi-year compounding trends at a glance — far faster than reading raw numbers in a table.

PROS

  • Strong return on equity of 22.2%.
  • Healthy ROCE of 30.4%.
  • Compounding revenue at 26.6% over 5 years.
  • Profit CAGR of 28.1% over 5 years.
  • Generates positive free cash flow.
  • In a confirmed uptrend (50-DMA above 200-DMA).

CONS

  • Trading at a high P/E of 53.8.

* The pros and cons are auto-generated from financial metrics.

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Valuation

Stock P/E
53.78
Industry PE
29.60
Forward P/E
38.18
PEG Ratio
-
Book Value
₹797.64
Price to Book
11.67
P/S
4.85
EV/EBITDA
33.52
Dividend Yield
0.51%

Growth (CAGR)

Revenue 5Y
26.57%
Profit 5Y
28.11%
Revenue (YoY)
28.31%
Earnings (YoY)
32.28%

Profitability & Returns

ROCE
30.44%
ROE
22.25%
ROA
13.05%
Profit Margin
9.45%
Op Margin
13.14%
Gross Margin
21.61%
EPS (Latest Qtr)
₹52.00
EPS (TTM)
₹176.95

Balance Sheet & Liquidity

Debt/Equity
0.37
Quick Ratio
1.14
Current Ratio
1.84
Debt
₹4,501.14 Cr
Total Assets
₹20,476.19 Cr
Current Assets
₹14,660.51 Cr
Working Capital
₹6,695.26 Cr

Ownership

Promoter Holding
64.72%
Chg in Prom Hold
-0.00%
FII / Inst Holding
15.69%
Chg in FII Hold
0.04%

Financial Snapshot

Enterprise Value
₹1.43 L Cr
Total Revenue (TTM)
₹28,269.51 Cr
EBITDA
₹4,194.26 Cr
Free Cash Flow
₹2,330.15 Cr
Operating Cash Flow
₹3,810.67 Cr
Shares Outstanding
₹15.06 Cr
Gross Margin
21.61%
Payout Ratio
19.78%

Peer comparison

Peer companies in the same sector (Industrials).

#NameCMP ₹P/E Mkt CapDiv Yld % ROCE %ROE % Rev CAGR 5Y %Profit CAGR 5Y %
1 POLYCAB Polycab India Limited NIFTY_MIDNSEAIINFRA 9,517.00 53.78 ₹1.43 L Cr 0.51% 30.44% 22.25% 26.57% 28.11%
2 LT Larsen & Toubro Limited NIFTY50NSEAIINFRA 3,849.40 32.93 ₹5.30 L Cr 0.96% 14.55% 14.72% 16.09% 15.38%
3 ADANIPORTS Adani Ports and Special Economic Zone Limited NIFTY50NSEINFRA 1,834.20 31.50 ₹4.23 L Cr 0.42% 10.97% 13.32% 22.93% 34.11%
4 BEL Bharat Electronics Limited NIFTY50NSEAIDEFENCEINFRAPSU 410.75 56.42 ₹3.00 L Cr 1.05% 31.88% 25.27% 16.63% 26.64%
5 HAL Hindustan Aeronautics Limited NSEAIDEFENCEINFRAPSU 4,463.30 32.75 ₹2.98 L Cr 0.44% 13.80% 22.21% 7.87% 16.08%
6 INDIGO InterGlobe Aviation Limited NSEINFRA 5,202.50 -84.07 ₹2.01 L Cr 0.24% 4.02% -34.31% 16.59% -227.40%
7 CUMMINSIND Cummins India Limited NSEINFRA 5,535.50 64.97 ₹1.53 L Cr 1.17% 34.95% 27.87% 16.07% 24.35%
8 ABB ABB India Limited NSEAIINFRA 6,951.50 88.30 ₹1.47 L Cr 0.58% 28.45% 21.29% 15.41% 17.97%
9 POWERINDIA Hitachi Energy India Limited NIFTY_MIDNSEINFRA 33,005.00 148.92 ₹1.47 L Cr 0.02% 24.92% 19.09% 22.24% 119.12%
Financial Statements Quarterly Results · Profit & Loss · Balance Sheet · Cash Flows · Ratios

Quarterly Results

Figures in INR.

Metric Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Revenue 4,324.00 Cr3,889.00 Cr4,218.00 Cr4,340.00 Cr5,592.00 Cr4,698.00 Cr5,498.00 Cr5,139.66 Cr6,985.80 Cr5,905.98 Cr6,477.00 Cr7,474.88 Cr8,864.48 Cr
Cost of Revenue -------4,008.09 Cr5,205.30 Cr4,318.78 Cr-5,895.52 Cr6,786.75 Cr
Gross Profit -------1,131.57 Cr1,780.50 Cr1,587.19 Cr-1,579.37 Cr2,077.73 Cr
Operating Expenses 3,721.00 Cr3,341.00 Cr3,609.00 Cr3,771.00 Cr4,830.00 Cr4,115.00 Cr4,867.00 Cr490.21 Cr835.47 Cr815.30 Cr5,456.00 Cr713.52 Cr1,014.22 Cr
Operating Income 550.00 Cr492.00 Cr549.00 Cr508.00 Cr696.00 Cr516.00 Cr560.00 Cr641.35 Cr945.02 Cr771.90 Cr924.00 Cr865.85 Cr1,063.51 Cr
EBITDA 603.00 Cr549.00 Cr609.00 Cr570.00 Cr762.00 Cr583.00 Cr632.00 Cr738.50 Cr1,073.46 Cr937.55 Cr1,021.00 Cr1,005.57 Cr1,221.72 Cr
Interest Expense 28.00 Cr25.00 Cr27.00 Cr32.00 Cr24.00 Cr41.00 Cr45.00 Cr43.37 Cr32.54 Cr51.26 Cr48.00 Cr57.77 Cr74.64 Cr
Pretax Income 573.00 Cr530.00 Cr557.00 Cr546.00 Cr725.00 Cr533.00 Cr590.00 Cr616.57 Cr960.56 Cr800.59 Cr921.00 Cr842.20 Cr1,049.29 Cr
Tax Provision 143.25 Cr127.20 Cr128.11 Cr131.04 Cr174.00 Cr133.25 Cr147.50 Cr152.22 Cr226.19 Cr200.89 Cr230.25 Cr212.03 Cr263.68 Cr
Net Income 429.00 Cr403.00 Cr430.00 Cr417.00 Cr553.00 Cr402.00 Cr445.00 Cr457.56 Cr726.67 Cr592.12 Cr693.00 Cr621.69 Cr772.77 Cr
Diluted EPS 28.3826.6728.3727.4936.3426.3429.2430.3148.1339.2145.5441.1952.00

Profit & Loss (Annual)

Figures in INR.

Metric Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Revenue 4,707.00 Cr5,202.00 Cr5,500.00 Cr6,770.00 Cr7,986.00 Cr8,830.00 Cr8,792.00 Cr-13,941.89 Cr17,760.41 Cr22,031.42 Cr28,269.51 Cr
Cost of Revenue --------10,820.42 Cr13,738.20 Cr17,343.21 Cr22,160.17 Cr
Gross Profit --------3,121.47 Cr4,022.22 Cr4,688.21 Cr6,109.34 Cr
Operating Expenses 4,266.00 Cr4,710.00 Cr5,020.00 Cr6,041.00 Cr7,035.00 Cr7,701.00 Cr7,681.00 Cr-1,478.15 Cr1,760.83 Cr2,018.16 Cr2,393.60 Cr
Operating Income 344.00 Cr381.00 Cr352.00 Cr596.00 Cr809.00 Cr968.00 Cr935.00 Cr-1,643.33 Cr2,261.38 Cr2,670.04 Cr3,715.73 Cr
EBITDA 442.00 Cr492.00 Cr480.00 Cr729.00 Cr950.00 Cr1,129.00 Cr1,111.00 Cr-1,960.58 Cr2,695.79 Cr3,138.92 Cr4,194.26 Cr
Interest Expense 108.00 Cr147.00 Cr66.00 Cr94.00 Cr117.00 Cr50.00 Cr43.00 Cr-44.16 Cr91.45 Cr139.97 Cr195.32 Cr
Pretax Income 241.00 Cr265.00 Cr361.00 Cr567.00 Cr756.00 Cr1,010.00 Cr1,056.00 Cr-1,707.26 Cr2,359.30 Cr2,700.84 Cr3,613.07 Cr
Tax Provision 77.12 Cr79.50 Cr129.96 Cr209.79 Cr257.04 Cr242.40 Cr168.96 Cr-424.17 Cr556.38 Cr655.31 Cr904.65 Cr
Net Income 164.00 Cr185.00 Cr233.00 Cr359.00 Cr500.00 Cr766.00 Cr886.00 Cr-1,270.78 Cr1,784.05 Cr2,019.99 Cr2,672.03 Cr
Diluted EPS 11.6413.0916.4825.3535.3950.9759.15-84.66118.49133.80176.95

Balance Sheet (Annual)

Figures in INR.

Metric Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Total Assets 3,314.00 Cr3,875.00 Cr4,579.00 Cr4,448.00 Cr5,628.00 Cr5,961.00 Cr7,015.00 Cr-9,425.48 Cr12,078.88 Cr13,775.77 Cr20,476.19 Cr
Current Assets --------6,908.75 Cr8,713.96 Cr9,319.00 Cr14,660.51 Cr
Cash & Equivalents --------152.75 Cr307.03 Cr217.39 Cr390.34 Cr
Inventory --------2,951.38 Cr3,675.11 Cr3,661.30 Cr5,559.60 Cr
Receivables --------1,246.60 Cr2,047.12 Cr2,596.27 Cr3,758.50 Cr
Total Liabilities --------2,750.89 Cr3,835.54 Cr3,865.94 Cr8,349.42 Cr
Current Liabilities --------2,620.49 Cr3,594.14 Cr3,510.15 Cr7,965.24 Cr
Long Term Debt --------4.21 Cr22.60 Cr41.94 Cr39.27 Cr
Total Debt 546.00 Cr796.00 Cr856.00 Cr800.00 Cr272.00 Cr157.00 Cr282.00 Cr-1,335.10 Cr2,023.06 Cr1,508.67 Cr4,501.14 Cr
Total Equity 1,630.00 Cr1,783.00 Cr1,994.00 Cr2,347.00 Cr2,847.00 Cr3,837.00 Cr4,754.00 Cr-6,637.21 Cr8,187.13 Cr9,828.06 Cr12,008.58 Cr
Shares Outstanding --------14.98 Cr15.02 Cr15.04 Cr15.06 Cr

Cash Flows (Annual)

Figures in INR.

Metric Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating Cash Flow 150.00 Cr221.00 Cr296.00 Cr362.00 Cr1,230.00 Cr244.00 Cr1,252.00 Cr-1,427.52 Cr1,296.24 Cr1,808.53 Cr3,810.67 Cr
Investing Cash Flow -173.00 Cr-247.00 Cr-295.00 Cr-188.00 Cr-408.00 Cr-262.00 Cr-1,012.00 Cr--1,202.65 Cr-751.88 Cr-1,239.31 Cr-2,849.71 Cr
Financing Cash Flow 15.00 Cr45.00 Cr-10.00 Cr-190.00 Cr-651.00 Cr11.00 Cr-175.00 Cr--227.07 Cr-387.41 Cr-628.27 Cr-799.04 Cr
Capital Expenditure -202.00 Cr-247.00 Cr-278.00 Cr-183.00 Cr-281.00 Cr-289.00 Cr-191.00 Cr--479.45 Cr-858.52 Cr-969.73 Cr-1,480.51 Cr
Free Cash Flow -52.00 Cr-26.00 Cr18.00 Cr179.00 Cr949.00 Cr-45.00 Cr1,061.00 Cr-948.07 Cr437.72 Cr838.80 Cr2,330.15 Cr
Net Change in Cash -8.00 Cr20.00 Cr-8.00 Cr-15.00 Cr171.00 Cr-7.00 Cr66.00 Cr--2.20 Cr156.95 Cr-59.05 Cr161.92 Cr

Ratios (Annual)

Figures in %.

Metric Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Gross Margin % --------22.4%22.6%21.3%21.6%
Operating Margin % 7.3%7.3%6.4%8.8%10.1%11.0%10.6%-11.8%12.7%12.1%13.1%
Net Margin % 3.5%3.6%4.2%5.3%6.3%8.7%10.1%-9.1%10.0%9.2%9.5%
ROE % 10.1%10.4%11.7%15.3%17.6%20.0%18.6%-19.1%21.8%20.6%22.3%
ROCE % --------24.1%26.7%26.0%29.7%

Shareholding Pattern

Insiders
64.72%
Institutions
15.69%
Public Float
44.46%

Analyst View

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Latest News

Recent headlines for POLYCAB

Google News Fri, 10 Jul 2026

Polycab's Profit Engine Is Running at Full Speed, Valuation Less So - marketscreener.com

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Google News Wed, 17 Jun 2026

Jefferies raises Polycab share price target after 30% rally in 2026. Here are 5 reasons why - The Economic Times

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Google News Mon, 19 Jan 2026

Polycab shares snap 6-day losses to rise up to 4% on strong December quarter results - TradingView

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Google News hu, 14 May 2026

Polycab Shares hit a new 52-week high of ₹9,239.00, driven by strong Q4 results and positive outlook. - India Infoline

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Google News Wed, 08 Jul 2026

Polycab India to host non-deal roadshow in USA from July 20 - scanx.trade

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Google News hu, 21 May 2026

With EPS Growth And More, Polycab India (NSE:POLYCAB) Makes An Interesting Case - simplywall.st

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POLYCAB — Frequently Asked Questions

What is the current share price of Polycab India Limited (POLYCAB)?

As of 2026-07-15 09:52 IST, Polycab India Limited (POLYCAB) trades at ₹9,517.00 on NSE. Its 52-week range is ₹6,666.37 to ₹10,083.00.

What is the market capitalisation of POLYCAB?

Polycab India Limited (POLYCAB) has a market capitalisation of ₹1.43 L Cr on NSE.

What is the P/E ratio of POLYCAB?

POLYCAB trades at a trailing price-to-earnings (P/E) ratio of 53.78. The industry average P/E is 29.60. Its price-to-book (P/B) ratio is 11.67.

Does POLYCAB pay a dividend?

Polycab India Limited (POLYCAB) currently offers a dividend yield of 0.51%.

What is the return on equity (ROE) of POLYCAB?

POLYCAB has a return on equity (ROE) of 22.25%. Its return on capital employed (ROCE) is 30.44%.

Is POLYCAB a good stock to buy?

This page provides a data-driven analysis of Polycab India Limited (POLYCAB), including valuation ratios, profitability, growth trends, auto-generated pros and cons, peer comparison and AI exposure. Review these fundamentals alongside your own research and risk tolerance. This is informational content, not investment advice.

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