Polycab India Ltd
Polycab is India’s leading manufacturers of cables and wires and allied products such as uPVC conduits and lugs and glands. We have a range of cables and wires for practically every application. More recently Polycab has also launched a wide range of consumer electrical products like Fans, Switches, Switchgear, LED lights and Luminaries, Solar Inverters, and Pumps.
- Market Cap ₹ 84,043 Cr.
- Current Price ₹ 5,594
- High / Low ₹ 5,733 / 3,171
- Stock P/E 50.5
- Book Value ₹ 479
- Dividend Yield 0.36 %
- ROCE 27.0 %
- ROE 20.0 %
- Face Value ₹ 10.0
Pros
- Company is almost debt free.
- Company has been maintaining a healthy dividend payout of 21.2%
- Debtor days have improved from 43.5 to 32.2 days.
Cons
- Stock is trading at 11.7 times its book value
- Promoter holding has decreased over last quarter: -0.55%
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
Sector: Cables Industry: Cables - Power
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | TTM | |
---|---|---|---|---|---|---|---|---|---|---|---|
3,986 | 4,707 | 5,202 | 5,500 | 6,770 | 7,986 | 8,830 | 8,792 | 12,204 | 14,108 | 16,771 | |
3,687 | 4,266 | 4,710 | 5,020 | 6,041 | 7,035 | 7,701 | 7,681 | 10,940 | 12,265 | 14,441 | |
Operating Profit | 299 | 442 | 492 | 480 | 729 | 950 | 1,129 | 1,111 | 1,264 | 1,843 | 2,330 |
OPM % | 8% | 9% | 9% | 9% | 11% | 12% | 13% | 13% | 10% | 13% | 14% |
8 | 5 | 32 | 75 | 65 | 64 | 91 | 164 | 161 | 133 | 222 | |
Interest | 94 | 108 | 147 | 66 | 94 | 117 | 50 | 43 | 35 | 60 | 112 |
Depreciation | 71 | 98 | 111 | 128 | 133 | 141 | 161 | 176 | 202 | 209 | 233 |
Profit before tax | 142 | 241 | 265 | 361 | 567 | 756 | 1,010 | 1,056 | 1,188 | 1,707 | 2,207 |
Tax % | 37% | 32% | 30% | 36% | 37% | 34% | 24% | 16% | 23% | 25% | |
89 | 164 | 185 | 233 | 359 | 500 | 766 | 886 | 917 | 1,282 | 1,678 | |
EPS in Rs | 12.65 | 11.64 | 13.09 | 16.48 | 25.35 | 35.39 | 50.97 | 59.15 | 60.80 | 84.80 | 110.89 |
Dividend Payout % | 8% | 9% | 13% | 6% | 0% | 8% | 14% | 17% | 23% | 24% |
Compounded Sales Growth | |
---|---|
10 Years: | % |
5 Years: | 16% |
3 Years: | 17% |
TTM: | 22% |
Compounded Profit Growth | |
---|---|
10 Years: | % |
5 Years: | 28% |
3 Years: | 18% |
TTM: | 42% |
Stock Price CAGR | |
---|---|
10 Years: | % |
5 Years: | 54% |
3 Years: | 56% |
1 Year: | 75% |
Return on Equity | |
---|---|
10 Years: | % |
5 Years: | 20% |
3 Years: | 19% |
Last Year: | 20% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Sep 2023 | |
---|---|---|---|---|---|---|---|---|---|---|---|
Equity Capital | 71 | 141 | 141 | 141 | 141 | 141 | 149 | 149 | 149 | 150 | 150 |
Reserves | 1,412 | 1,489 | 1,642 | 1,853 | 2,206 | 2,706 | 3,688 | 4,605 | 5,394 | 6,481 | 7,045 |
458 | 546 | 796 | 856 | 800 | 272 | 157 | 282 | 118 | 191 | 213 | |
823 | 1,138 | 1,296 | 1,729 | 1,300 | 2,509 | 1,967 | 1,978 | 1,750 | 2,602 | 2,492 | |
Total Liabilities | 2,763 | 3,314 | 3,875 | 4,579 | 4,448 | 5,628 | 5,961 | 7,015 | 7,412 | 9,424 | 9,900 |
750 | 822 | 985 | 1,128 | 1,197 | 1,276 | 1,422 | 1,870 | 1,675 | 2,067 | 2,106 | |
CWIP | 116 | 179 | 138 | 165 | 136 | 193 | 241 | 99 | 375 | 251 | 367 |
Investments | 0 | 0 | 0 | 33 | 32 | 29 | 65 | 635 | 773 | 1,350 | 1,279 |
1,897 | 2,312 | 2,752 | 3,253 | 3,083 | 4,130 | 4,232 | 4,411 | 4,588 | 5,756 | 6,148 | |
Total Assets | 2,763 | 3,314 | 3,875 | 4,579 | 4,448 | 5,628 | 5,961 | 7,015 | 7,412 | 9,424 | 9,900 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
---|---|---|---|---|---|---|---|---|---|---|
310 | 150 | 221 | 296 | 362 | 1,230 | 244 | 1,252 | 512 | 1,428 | |
-109 | -173 | -247 | -295 | -188 | -408 | -262 | -1,012 | -427 | -1,203 | |
-196 | 15 | 45 | -10 | -190 | -651 | 11 | -175 | -201 | -227 | |
Net Cash Flow | 4 | -8 | 20 | -8 | -15 | 171 | -7 | 66 | -116 | -2 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
---|---|---|---|---|---|---|---|---|---|---|
Debtor Days | 88 | 84 | 95 | 80 | 70 | 61 | 59 | 60 | 39 | 32 |
Inventory Days | 70 | 95 | 94 | 134 | 128 | 116 | 113 | 86 | 104 | |
Days Payable | 77 | 101 | 101 | 120 | 97 | 82 | 77 | 48 | 72 | |
Cash Conversion Cycle | 81 | 78 | 88 | 94 | 70 | 91 | 94 | 96 | 77 | 65 |
Working Capital Days | 92 | 86 | 94 | 96 | 88 | 50 | 76 | 73 | 69 | 62 |
ROCE % | 17% | 17% | 16% | 22% | 28% | 29% | 24% | 21% | 27% |
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
2d - Of Earnings Conference Call Invite for the quarter ended March 31, 2024
- Board Meeting Intimation for The Audited Standalone And Consolidated Financial Results Of The Company Along With The Audit Reports For The Quarter And Year Ended 31St March 2024 And To Recommend Dividend, If Any, To The Shareholders For The Financial Year 2023-24. 25 Apr
- Certificate As Per Regulation 40(9) Of SEBI (LODR) Regulations, 2015 18 Apr
- Format of the Initial Disclosure to be made by an entity identified as a Large Corporate : Annexure A 15 Apr
- Compliance Certificate Under Regulation 7(3) Of SEBI (LODR) Regulations, 2015 For The Year Ended 31St March 2024. 12 Apr
Annual reports
Concalls
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Business Segments[1]
1 Wires and Cables (W&C): company manufactures wires and cables for retail and industrial use, catering to a diverse customer base across a wide range of industries.
2 FMEG: commenced in FY14, is a high-growth segment. It features a growing product
mix across different price points that caters to the complete spectrum of customers .
3 Others: Mainly EPC business.