Polycab India Ltd.

•

polycab.comBSE: 542652NSE: POLYCAB

Market Cap₹ 1,26,038 Cr.

Current Price

High / Low₹ 10,126 / 6,663

Stock P/E44.9

Book Value₹ 830

Price to Book8.77

Dividend Yield0.56 %

ROCE34.3 %

ROE24.3 %

Face Value₹ 10

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ABOUT

KEY POINTS

Revenue Breakup Mar 2026 • Cables: 86.8% • FMEG: 7.3% • Others: 5.9%

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 25.6% CAGR over last 5 years
Company is almost debt free
Company has a healthy return on capital (ROCE) of 32.7%
Company has a good return on equity (ROE) track record: 3 Years ROE 23.6%
Company has delivered good sales growth of 26.4% CAGR over last 5 years
Latest quarter profit grew 35.0% YoY, showing strong momentum

CONS

Promoter holding has decreased over last 2 years: -3.6pp
Stock is trading at 8.8x its book value
Rich enterprise valuation - EV/EBITDA of 25.1x

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

Peer comparison

Capital GoodsElectricalsCable

Part ofNIFTY ALPHA 50 NIFTY500MOMENTM50 NIFTYLARGEMIDCAP250 NIFTYMIDCAP150 NIFTY MIDCAP 100

S.No.	Name
1.	POLYCAB	8364.00	44.00	126038.44	0.56	796.65	32.84	8209.73	39.01	34.93	13.84
2.	KEI	4636.90	44.47	44329.04	0.10	274.14	40.05	3185.34	22.97	20.23	12.43
3.	DHOOTTRANS	1570.35	80.98	32121.20	0.00	1326.70	—	14464.15	—	24.14	15.10
4.	RRKABEL	2436.70	45.36	27560.42	0.39	205.20	128.59	3168.20	53.90	28.43	9.01
5.	FINCABLES	1420.50	27.15	21725.03	0.63	249.04	53.14	2013.15	44.26	16.06	14.16
6.	PRECWIRE	463.10	499.66	8465.76	0.27	46.45	71.48	1779.24	61.20	33.09	4.76
7.	UNIVCABLES	1548.25	26.81	5371.71	0.29	70.14	-78.69	945.06	57.46	11.69	13.80
8.	LASERPOWER	290.55	26.90	4078.40	0.00	207.32	—	5215.47	—	24.84	12.62
9.	ADVAIT	2053.30	38.28	2246.93	0.10	14.80	65.77	179.27	51.37	28.24	13.36
10.	DYCL	455.20	24.19	2205.84	0.11	249.53	1270.52	3491.01	1232.27	26.80	10.89
11.	PARACABLES	65.70	35.27	2149.96	0.00	19.70	6.49	529.40	17.35	16.62	6.56
12.	QUADFUTURE	435.75	0.00	1743.00	0.00	-9.13	32.36	40.59	41.27	-7.01	-8.25

Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	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
	3,849	4,256	4,513	5,433	4,601	5,366	5,105	6,862	5,704	6,340	7,517	8,585	8,034
	3,305	3,625	3,892	4,796	4,042	4,761	4,406	5,862	4,899	5,355	6,571	7,474	7,119
Operating Profit	545	631	621	637	559	605	699	1,000	805	985	946	1,111	915
OPM %	14.15%	14.82%	13.77%	11.72%	12.15%	11.28%	13.70%	14.58%	14.11%	15.53%	12.59%	12.94%	11.39%
	64	36	71	52	60	78	25	54	82	51	47	58	103
Interest	24	24	30	23	39	42	48	30	49	46	66	72	77
Depreciation	56	58	60	63	65	69	76	77	82	93	102	94	99
Profit before Tax	529	584	602	603	515	571	601	947	756	896	825	1,003	1,018
Tax %	23.92%	23.02%	23.77%	24.01%	24.69%	24.56%	24.60%	23.30%	24.92%	24.71%	25.12%	25.17%	24.71%
Net Profit	402	450	459	458	388	431	453	726	568	675	618	750	766
	26.87	29.99	30.59	3051.00	25.80	28.64	30.12	48.29	37.74	44.83	41.05	49.85	50.89

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	5,500	6,759	7,940	8,807	8,736	12,098	13,914	18,051	22,052	28,185	30,477
	5,023	6,035	6,992	7,690	7,651	10,873	12,106	15,614	19,190	24,338	26,520
Operating Profit	477	724	948	1,117	1,086	1,225	1,808	2,436	2,862	3,847	3,957
OPM %	8.68%	10.71%	11.95%	12.68%	12.43%	10.12%	12.99%	13.50%	12.98%	13.65%	12.98%
	75	67	64	93	125	230	139	220	207	227	258
Interest	65	92	116	48	41	33	56	100	161	233	261
Depreciation	127	132	140	159	174	197	206	237	288	373	389
Profit before Tax	360	567	757	1,003	995	1,225	1,685	2,319	2,620	3,468	3,742
Tax %	35.46%	36.77%	33.72%	24.17%	16.49%	23.97%	24.69%	23.68%	24.18%	25.01%	24.92%
Net Profit	232	358	501	761	831	931	1,269	1,770	1,987	2,601	2,809
EPS	16.44	25.38	35.51	51.10	55.57	62.12	84.54	117.79	132.06	172.76	—
Dividend Payout %	6.08%	3.94%	8.45%	13.70%	17.94%	22.47%	23.60%	25.47%	26.50%	27.21%	—

COMPOUNDED SALES GROWTH

10 Years:: 18%
5 Years:: 26%
3 Years:: 27%

COMPOUNDED PROFIT GROWTH

10 Years:: 30%
5 Years:: 26%
3 Years:: 27%

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:: 24%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	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
	1,853	2,207	2,693	3,665	4,529	5,336	6,424	7,924	9,484	11,598
	864	807	284	193	135	121	39	71	154	220
Trade Payables	1,351	914	1,510	1,345	1,306	1,179	1,996	2,809	2,711	5,991
	326	354	968	577	608	521	618	804	880	1,994
Total Liabilities	4,535	4,424	5,595	5,928	6,727	7,307	9,227	11,758	13,379	19,954
	1,113	1,180	1,255	1,395	1,581	1,619	2,026	2,199	2,825	3,515
Capital Work in Progress	165	135	186	241	98	374	249	537	701	1,130
	37	39	43	86	697	813	1,382	1,824	1,717	3,365
	1,517	1,356	1,980	1,906	1,951	2,147	2,867	3,253	3,299	5,363
	0	0	0	0	0	0	0	2,299	2,849	3,733
Cash & Bank	28	9	315	277	488	391	646	308	710	765
	1,675	1,705	1,816	2,023	1,912	1,963	2,056	1,337	1,278	2,081
Total Assets	4,535	4,424	5,595	5,928	6,727	7,307	9,227	11,758	13,379	19,954

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	383	491	1,405	533	1,412	789	1,812	1,292	1,803	3,747
Cash from Investing	-269	-178	-396	-257	-1,038	-360	-1,188	-762	-1,161	-2,820
Cash from Financing	-19	-189	-657	16	-110	-185	-256	-396	-667	-776
	-5	-15	171	-8	27	-84	8	133	-24	152

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	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

8364.00

44.00

126038.44

0.56

796.65

32.84

8209.73

39.01

34.93

13.84

KEI

4636.90

44.47

44329.04

0.10

274.14

40.05

3185.34

22.97

20.23

12.43

DHOOTTRANS

1570.35

80.98

32121.20

0.00

1326.70

—

14464.15

—

24.14

15.10

RRKABEL

2436.70

45.36

27560.42

0.39

205.20

128.59

3168.20

53.90

28.43

9.01

FINCABLES

1420.50

27.15

21725.03

0.63

249.04

53.14

2013.15

44.26

16.06

14.16

PRECWIRE

463.10

499.66

8465.76

0.27

46.45

71.48

1779.24

61.20

33.09

4.76

UNIVCABLES

1548.25

26.81

5371.71

0.29

70.14

-78.69

945.06

57.46

11.69

13.80

LASERPOWER

290.55

26.90

4078.40

0.00

207.32

—

5215.47

—

24.84

12.62

ADVAIT

2053.30

38.28

2246.93

0.10

14.80

65.77

179.27

51.37

28.24

13.36

DYCL

455.20

24.19

2205.84

0.11

249.53

1270.52

3491.01

1232.27

26.80

10.89

PARACABLES

65.70

35.27

2149.96

0.00

19.70

6.49

529.40

17.35

16.62

6.56

QUADFUTURE

435.75

0.00

1743.00

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

3,849

4,256

4,513

5,433

4,601

5,366

5,105

6,862

5,704

6,340

7,517

8,585

8,034

3,305

3,625

3,892

4,796

4,042

4,761

4,406

5,862

4,899

5,355

6,571

7,474

7,119

Operating Profit

545

631

621

637

559

605

699

1,000

805

985

946

1,111

915

OPM %

14.15%

14.82%

13.77%

11.72%

12.15%

11.28%

13.70%

14.58%

14.11%

15.53%

12.59%

12.94%

11.39%

103

Interest

Depreciation

102

Profit before Tax

529

584

602

603

515

571

601

947

756

896

825

1,003

1,018

Tax %

23.92%

23.02%

23.77%

24.01%

24.69%

24.56%

24.60%

23.30%

24.92%

24.71%

25.12%

25.17%

24.71%

Net Profit

402

450

459

458

388

431

453

726

568

675

618

750

766

26.87

29.99

30.59

3051.00

25.80

28.64

30.12

48.29

37.74

44.83

41.05

49.85

50.89

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

TTM

5,500

6,759

7,940

8,807

8,736

12,098

13,914

18,051

22,052

28,185

30,477

5,023

6,035

6,992

7,690

7,651

10,873

12,106

15,614

19,190

24,338

26,520

Operating Profit

477

724

948

1,117

1,086

1,225

1,808

2,436

2,862

3,847

3,957

OPM %

8.68%

10.71%

11.95%

12.68%

12.43%

10.12%

12.99%

13.50%

12.98%

13.65%

12.98%

125

230

139

220

207

227

258

Interest

116

100

161

233

261

Depreciation

127

132

140

159

174

197

206

237

288

373

389

Profit before Tax

360

567

757

1,003

995

1,225

1,685

2,319

2,620

3,468

3,742

Tax %

35.46%

36.77%

33.72%

24.17%

16.49%

23.97%

24.69%

23.68%

24.18%

25.01%

24.92%

Net Profit

232

358

501

761

831

931

1,269

1,770

1,987

2,601

2,809

EPS

16.44

25.38

35.51

51.10

55.57

62.12

84.54

117.79

132.06

172.76

—

Dividend Payout %

6.08%

3.94%

8.45%

13.70%

17.94%

22.47%

23.60%

25.47%

26.50%

27.21%

—

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

1,853

2,207

2,693

3,665

4,529

5,336

6,424

7,924

9,484

11,598

864

807

284

193

135

121

154

220

Trade Payables

1,351

914

1,510

1,345

1,306

1,179

1,996

2,809

2,711

5,991

326

354

968

577

608

521

618

804

880

1,994

Total Liabilities

4,535

4,424

5,595

5,928

6,727

7,307

9,227

11,758

13,379

19,954

1,113

1,180

1,255

1,395

1,581

1,619

2,026

2,199

2,825

3,515

Capital Work in Progress

165

135

186

241

374

249

537

701

1,130

697

813

1,382

1,824

1,717

3,365

1,517

1,356

1,980

1,906

1,951

2,147

2,867

3,253

3,299

5,363

2,299

2,849

3,733

Cash & Bank

315

277

488

391

646

308

710

765

1,675

1,705

1,816

2,023

1,912

1,963

2,056

1,337

1,278

2,081

Total Assets

4,535

4,424

5,595

5,928

6,727

7,307

9,227

11,758

13,379

19,954

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

383

491

1,405

533

1,412

789

1,812

1,292

1,803

3,747

Cash from Investing

-269

-178

-396

-257

-1,038

-360

-1,188

-762

-1,161

-2,820

Cash from Financing

-19

-189

-657

-110

-185

-256

-396

-667

-776

-5

-15

171

-8

-84

133

-24

152

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

Sign in to Chat with AI