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

Add ratio to table

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

Loading news…

🤖

AI Stock Analyst

Polycab India Ltd.

🔒

Sign in to Chat with AI

✨ Sign In to Chat

Free 5nance Account