Polycab India Ltd.

•

polycab.comBSE: 542652NSE: POLYCAB

Market Cap₹ 1,24,321 Cr.

Current Price

High / Low₹ 10,126 / 6,663

Stock P/E43.4

Book Value₹ 843

Price to Book8.65

Dividend Yield0.57 %

ROCE34.9 %

ROE25.0 %

Face Value₹ 10

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ABOUT

KEY POINTS

Revenue Breakup Mar 2026 • Wires & Cables: 87.1% • FMEG: 7.2% • Others: 5.8%

AI Sector View

AI GENERATED

Capital Goods

Buy

Capital goods is supported by strong public capex and still-expansionary industrial activity. Capital expenditure rose 66% YoY (2026-06), GST collections grew 8% YoY (2026-07), and the core industries Overall Index increased 5.4% YoY (2026-07). E-way bills slowed to 6% YoY (2026-07) and sector FPI flows show INR -9697 crore net outflow over 3 months to 2026-08-31, but the investment cycle and fiscal impulse remain favorable.

Confidence

72%

View full sector analysis →

PROS

Company has delivered good profit growth of 26.3% CAGR over last 5 years
Company is almost debt free
Company has a healthy return on capital (ROCE) of 33.1%
Company has a good return on equity (ROE) track record: 3 Years ROE 24.2%
Company has consistently been profitable over the last 5 years
Company has delivered good sales growth of 26.9% CAGR over last 5 years

CONS

Promoter holding has decreased over last 2 years: -3.6pp
Receivables are growing faster than sales - a possible quality concern
Stock is trading at 8.6x its book value

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

Capital GoodsElectricalsCable

Part ofNIFTYM150MOMNTM50 NIFTY ALPHA 50 NIFTY500MOMENTM50 NIFTYLARGEMIDCAP250 NIFTYMIDCAP150

S.No.	Name
1.	POLYCAB	8250.00	43.40	124320.56	0.57	796.65	32.84	8209.73	39.01	34.93	13.84
2.	KEI	4570.00	43.83	43689.47	0.10	274.14	40.05	3185.34	22.97	20.23	12.43
3.	DHOOTTRANS	1727.35	89.08	35332.61	0.00	1326.70	—	14464.15	—	24.14	15.10
4.	RRKABEL	2424.55	45.13	27423.00	0.39	205.20	128.59	3168.20	53.90	28.43	9.01
5.	FINCABLES	1423.25	27.20	21767.09	0.63	249.04	53.14	2013.15	44.26	16.06	14.16
6.	PRECWIRE	463.20	499.77	8467.59	0.27	46.45	71.48	1779.24	61.20	33.09	4.76
7.	UNIVCABLES	1492.85	25.85	5179.50	0.30	70.14	-78.69	945.06	57.46	11.69	13.80
8.	LASERPOWER	290.15	26.87	4072.79	0.00	207.32	—	5215.47	—	24.84	12.62
9.	ADVAIT	2061.30	38.43	2255.68	0.10	14.80	65.77	179.27	51.37	28.24	13.36
10.	DYCL	455.40	24.20	2206.81	0.11	249.53	1270.52	3491.01	1232.27	26.80	10.89
11.	PARACABLES	64.84	34.81	2121.82	0.00	19.70	6.49	529.40	17.35	16.62	6.56
12.	QUADFUTURE	479.35	0.00	1917.40	0.00	-9.13	32.36	40.59	41.27	-7.01	-8.25

Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	3,889	4,218	4,340	5,592	4,698	5,498	5,226	6,986	5,906	6,477	7,636	8,864	8,210
	3,341	3,609	3,771	4,830	4,115	4,867	4,506	5,960	5,048	5,456	6,670	7,703	7,256
Operating Profit	549	609	570	762	583	632	720	1,025	858	1,021	966	1,161	953
OPM %	14.10%	14.44%	13.12%	13.62%	12.42%	11.49%	13.78%	14.68%	14.52%	15.76%	12.65%	13.10%	11.61%
	64	35	71	54	58	76	25	48	80	45	50	60	105
Interest	25	27	32	24	41	45	50	33	51	48	69	75	80
Depreciation	57	60	62	66	67	72	79	80	86	97	106	98	103
Profit before Tax	530	557	546	725	533	590	617	961	801	921	842	1,049	1,058
Tax %	24.00%	22.86%	23.77%	23.69%	24.70%	24.59%	24.69%	23.55%	25.09%	24.76%	25.18%	25.13%	24.72%
Net Profit	0	0	0	0	402	445	464	734	600	693	630	786	797
	26.68	28.38	27.50	36.37	26.35	29.25	30.42	48.31	39.36	45.54	41.30	52.18	52.09

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	5,500	6,770	7,986	8,830	8,792	12,204	14,108	18,039	22,408	28,884	31,188
	5,020	6,041	7,033	7,695	7,686	10,954	12,259	15,548	19,448	24,878	27,086
Operating Profit	480	729	953	1,135	1,106	1,250	1,849	2,492	2,960	4,006	4,101
OPM %	8.73%	10.77%	11.93%	12.85%	12.58%	10.24%	13.11%	13.81%	13.21%	13.87%	13.15%
	75	64	64	93	124	105	136	221	208	236	261
Interest	66	94	117	50	43	35	60	108	169	243	272
Depreciation	128	133	141	161	176	202	209	245	298	386	403
Profit before Tax	361	567	756	1,010	1,012	1,116	1,707	2,359	2,701	3,613	3,871
Tax %	35.53%	36.74%	33.83%	24.20%	16.83%	24.25%	24.85%	23.58%	24.26%	25.04%	24.94%
Net Profit	233	359	500	766	842	845	1,283	1,803	2,046	2,708	2,905
EPS	16.46	25.35	35.39	50.97	58.96	60.61	84.66	118.75	134.28	177.48	—
Dividend Payout %	6.07%	3.94%	8.48%	13.73%	16.91%	23.03%	23.57%	25.26%	26.06%	26.48%	—

COMPOUNDED SALES GROWTH

10 Years:: 19%
5 Years:: 27%
3 Years:: 27%

COMPOUNDED PROFIT GROWTH

10 Years:: 30%
5 Years:: 25%
3 Years:: 28%

STOCK PRICE CAGR

10 Years:: —
5 Years:: 28%
3 Years:: 19%
1 Year:: 14%

RETURN ON EQUITY

10 Years:: 20%
5 Years:: 22%
3 Years:: 24%
Last Year:: 25%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	141	141	141	149	149	149	150	150	150	151
Minority Interest	3	4	8	15	19	25	37	56	82	118
	1,852	2,206	2,691	3,661	4,576	5,359	6,456	7,967	9,577	11,762
	875	819	298	204	305	128	112	206	269	356
Trade Payables	1,354	922	1,520	1,354	1,348	1,218	2,033	2,863	2,736	6,064
	327	356	970	578	618	532	637	824	935	2,013
Total Liabilities	4,553	4,448	5,628	5,961	7,015	7,412	9,424	12,066	13,749	20,465
	1,128	1,197	1,276	1,422	1,870	1,675	2,067	2,261	2,932	3,652
Capital Work in Progress	165	136	193	241	99	375	251	578	708	1,139
	33	32	29	65	635	773	1,350	1,822	1,749	3,405
	1,520	1,366	1,996	1,925	1,988	2,200	2,951	3,675	3,661	5,560
	0	0	0	0	0	0	0	2,047	2,596	3,759
Cash & Bank	30	11	317	281	531	407	695	402	771	882
	1,677	1,707	1,818	2,026	1,892	1,981	2,109	1,279	1,331	2,068
Total Assets	4,553	4,448	5,628	5,961	7,015	7,412	9,424	12,066	13,749	20,465

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	398	502	1,411	546	1,493	846	1,798	1,296	1,809	3,811
Cash from Investing	-290	-188	-408	-262	-1,012	-427	-1,203	-752	-1,239	-2,850
Cash from Financing	-10	-190	-651	11	-175	-201	-227	-387	-628	-799
	-3	-15	171	-7	66	-116	-2	157	-59	162

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026

Shareholding Pattern

Numbers in percentages

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	65.02	63.06	63.05	63.04	63.01	61.52	61.50	61.50	61.46
	13.62	13.48	12.75	11.11	11.45	13.96	14.82	18.21	19.00
	6.93	9.35	10.64	10.93	11.59	11.68	11.11	7.95	7.62
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	14.42	14.11	13.54	14.91	13.96	12.85	12.57	12.34	11.92

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-09-03

General Updates

2026-09-03 - Polycab India Limited has informed the Exchange about Analyst(s)/Investor(s) meet.

2026-09-01

ESOP/ESOS/ESPS

2026-09-01 - Polycab India Limited has informed the Exchange regarding Allotment of 14970 Shares.

2026-09-01

General Updates

2026-09-01 - Polycab India Limited has informed the Exchange about Analyst(s)/Investor(s) meet.

2026-08-29

General Updates

2026-08-29 - Polycab India Limited has informed the Exchange about Analyst(s)/Investor(s) meet.

2026-08-25

General Updates

2026-08-25 - Polycab India Limited has informed the Exchange about Analyst(s)/Investor(s) meet.

2026-08-24

Shareholders meeting

2026-08-24 - Polycab India Limited has submitted the Exchange a copy Srutinizers report of Postal Ballot. Further, the company has informed the Exchange regarding voting results.

2026-08-20

Change in Management

2026-08-20 - Polycab India Limited has informed the Exchange about change in Management

2026-08-19

General Updates

2026-08-19 - Polycab India Limited has informed the Exchange about Analyst(s)/Investor(s) meet.

2026-08-18

Demise

2026-08-18 - Polycab India Limited has informed the Exchange regarding Demise of Mr Diwaker Bharadwaj, SMP of the company on August 17, 2026.

News

Recent coverage and analyst commentary for POLYCAB

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Polycab India Ltd.

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Name

POLYCAB

8250.00

43.40

124320.56

0.57

796.65

32.84

8209.73

39.01

34.93

13.84

KEI

4570.00

43.83

43689.47

0.10

274.14

40.05

3185.34

22.97

20.23

12.43

DHOOTTRANS

1727.35

89.08

35332.61

0.00

1326.70

—

14464.15

—

24.14

15.10

RRKABEL

2424.55

45.13

27423.00

0.39

205.20

128.59

3168.20

53.90

28.43

9.01

FINCABLES

1423.25

27.20

21767.09

0.63

249.04

53.14

2013.15

44.26

16.06

14.16

PRECWIRE

463.20

499.77

8467.59

0.27

46.45

71.48

1779.24

61.20

33.09

4.76

UNIVCABLES

1492.85

25.85

5179.50

0.30

70.14

-78.69

945.06

57.46

11.69

13.80

LASERPOWER

290.15

26.87

4072.79

0.00

207.32

—

5215.47

—

24.84

12.62

ADVAIT

2061.30

38.43

2255.68

0.10

14.80

65.77

179.27

51.37

28.24

13.36

DYCL

455.40

24.20

2206.81

0.11

249.53

1270.52

3491.01

1232.27

26.80

10.89

PARACABLES

64.84

34.81

2121.82

0.00

19.70

6.49

529.40

17.35

16.62

6.56

QUADFUTURE

479.35

0.00

1917.40

0.00

-9.13

32.36

40.59

41.27

-7.01

-8.25

Jun 2023

Sep 2023

Dec 2023

Mar 2024

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

3,889

4,218

4,340

5,592

4,698

5,498

5,226

6,986

5,906

6,477

7,636

8,864

8,210

3,341

3,609

3,771

4,830

4,115

4,867

4,506

5,960

5,048

5,456

6,670

7,703

7,256

Operating Profit

549

609

570

762

583

632

720

1,025

858

1,021

966

1,161

953

OPM %

14.10%

14.44%

13.12%

13.62%

12.42%

11.49%

13.78%

14.68%

14.52%

15.76%

12.65%

13.10%

11.61%

105

Interest

Depreciation

106

103

Profit before Tax

530

557

546

725

533

590

617

961

801

921

842

1,049

1,058

Tax %

24.00%

22.86%

23.77%

23.69%

24.70%

24.59%

24.69%

23.55%

25.09%

24.76%

25.18%

25.13%

24.72%

Net Profit

402

445

464

734

600

693

630

786

797

26.68

28.38

27.50

36.37

26.35

29.25

30.42

48.31

39.36

45.54

41.30

52.18

52.09

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

TTM

5,500

6,770

7,986

8,830

8,792

12,204

14,108

18,039

22,408

28,884

31,188

5,020

6,041

7,033

7,695

7,686

10,954

12,259

15,548

19,448

24,878

27,086

Operating Profit

480

729

953

1,135

1,106

1,250

1,849

2,492

2,960

4,006

4,101

OPM %

8.73%

10.77%

11.93%

12.85%

12.58%

10.24%

13.11%

13.81%

13.21%

13.87%

13.15%

124

105

136

221

208

236

261

Interest

117

108

169

243

272

Depreciation

128

133

141

161

176

202

209

245

298

386

403

Profit before Tax

361

567

756

1,010

1,012

1,116

1,707

2,359

2,701

3,613

3,871

Tax %

35.53%

36.74%

33.83%

24.20%

16.83%

24.25%

24.85%

23.58%

24.26%

25.04%

24.94%

Net Profit

233

359

500

766

842

845

1,283

1,803

2,046

2,708

2,905

EPS

16.46

25.35

35.39

50.97

58.96

60.61

84.66

118.75

134.28

177.48

—

Dividend Payout %

6.07%

3.94%

8.48%

13.73%

16.91%

23.03%

23.57%

25.26%

26.06%

26.48%

—

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Equity Capital

141

149

150

151

Minority Interest

118

1,852

2,206

2,691

3,661

4,576

5,359

6,456

7,967

9,577

11,762

875

819

298

204

305

128

112

206

269

356

Trade Payables

1,354

922

1,520

1,354

1,348

1,218

2,033

2,863

2,736

6,064

327

356

970

578

618

532

637

824

935

2,013

Total Liabilities

4,553

4,448

5,628

5,961

7,015

7,412

9,424

12,066

13,749

20,465

1,128

1,197

1,276

1,422

1,870

1,675

2,067

2,261

2,932

3,652

Capital Work in Progress

165

136

193

241

375

251

578

708

1,139

635

773

1,350

1,822

1,749

3,405

1,520

1,366

1,996

1,925

1,988

2,200

2,951

3,675

3,661

5,560

2,047

2,596

3,759

Cash & Bank

317

281

531

407

695

402

771

882

1,677

1,707

1,818

2,026

1,892

1,981

2,109

1,279

1,331

2,068

Total Assets

4,553

4,448

5,628

5,961

7,015

7,412

9,424

12,066

13,749

20,465

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

398

502

1,411

546

1,493

846

1,798

1,296

1,809

3,811

Cash from Investing

-290

-188

-408

-262

-1,012

-427

-1,203

-752

-1,239

-2,850

Cash from Financing

-10

-190

-651

-175

-201

-227

-387

-628

-799

-3

-15

171

-7

-116

-2

157

-59

162

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

65.02

63.06

63.05

63.04

63.01

61.52

61.50

61.46

13.62

13.48

12.75

11.11

11.45

13.96

14.82

18.21

19.00

6.93

9.35

10.64

10.93

11.59

11.68

11.11

7.95

7.62

Government

0.00

14.42

14.11

13.54

14.91

13.96

12.85

12.57

12.34

11.92

Polycab India Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

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Polycab India Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

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