Polycab India Ltd

Polycab India Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

Polycab India Ltd

₹ 9,611 -0.02%
27 May 1:06 p.m.
polycab.com BSE: 542652 NSE: POLYCAB
About

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.

Key Points

Business Segments
1) Wires & Cables (W&C) (84% in FY25 vs 89% in FY23): [1] [2] [3]
The company is India's largest manufacturer of wires and cables. Its product portfolio includes flexible wires, building wires, optical-fiber cables, rubber cables, control cables, special purpose cables, etc. [4]
The company is India’s largest manufacturer of wires and cables, offering 10,600+ SKUs for retail and industrial use, and holds a 26-27% share in the organized domestic market.[4][3] Its product portfolio includes flexible wires, building wires, optical fiber cables, rubber cables, control cables, special purpose cables, etc. The segment revenue grew by 18% YoY in FY25, driven by momentum across both distribution and institutional channels.[5]
[6]

Website BSE NSE
  • Market Cap ₹ 1,44,697 Cr.
  • Current Price ₹ 9,611
  • High / Low ₹ 9,692 / 5,760
  • Stock P/E 55.6
  • Book Value ₹ 787
  • Dividend Yield 0.36 %
  • ROCE 34.0 %
  • ROE 24.1 %
  • Face Value ₹ 10.0
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Pros

  • Company is almost debt free.
  • Company is expected to give good quarter
  • Company has delivered good profit growth of 26.0% CAGR over last 5 years
  • Company has been maintaining a healthy dividend payout of 26.3%
  • Company's median sales growth is 19.4% of last 10 years

Cons

  • Stock is trading at 12.2 times its book value
  • Promoter holding has decreased over last 3 years: -4.70%

* 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

Industrials Capital Goods Industrial Products Cables - Electricals

Part of BSE 500 BSE Capital Goods BSE 200 BSE Dollex 200 Nifty 500

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
4,288 3,849 4,256 4,513 5,433 4,601 5,366 5,105 6,862 5,704 6,340 7,519 8,585
3,687 3,305 3,625 3,892 4,796 4,042 4,761 4,406 5,862 4,899 5,355 6,573 7,474
Operating Profit 601 545 631 621 637 559 605 699 1,000 805 985 946 1,111
OPM % 14% 14% 15% 14% 12% 12% 11% 14% 15% 14% 16% 13% 13%
54 64 36 71 52 60 78 25 54 82 51 43 58
Interest 27 24 24 30 23 39 42 48 30 49 46 66 72
Depreciation 53 56 58 60 63 65 69 76 77 82 93 103 94
Profit before tax 575 529 584 602 603 515 571 601 947 756 896 821 1,003
Tax % 25% 24% 23% 24% 24% 25% 25% 25% 23% 25% 25% 25% 25%
432 402 450 459 458 388 431 453 726 568 675 614 750
EPS in Rs 28.86 26.86 29.98 30.58 30.49 25.78 28.64 30.11 48.29 37.73 44.83 40.82 49.85
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
4,697 5,203 5,500 6,759 7,940 8,807 8,736 12,098 13,914 18,051 21,914 28,185
4,263 4,709 5,023 6,035 6,992 7,689 7,645 10,857 12,103 15,614 19,046 24,338
Operating Profit 434 494 477 724 948 1,118 1,091 1,241 1,811 2,436 2,868 3,847
OPM % 9% 9% 9% 11% 12% 13% 12% 10% 13% 14% 13% 14%
5 32 75 67 64 92 120 214 136 220 216 227
Interest 108 147 65 92 116 48 41 33 56 100 159 233
Depreciation 97 111 127 132 140 159 174 197 206 237 287 373
Profit before tax 234 267 360 567 757 1,003 995 1,225 1,685 2,319 2,639 3,468
Tax % 33% 30% 35% 37% 34% 24% 16% 24% 25% 24% 24% 25%
157 186 232 358 501 761 831 931 1,269 1,770 2,002 2,601
EPS in Rs 11.13 13.21 16.45 25.38 35.51 51.10 55.75 62.32 84.73 117.79 133.09 172.76
Dividend Payout % 9% 13% 6% 4% 8% 14% 18% 22% 24% 25% 26% 27%
Compounded Sales Growth
10 Years: 18%
5 Years: 26%
3 Years: 27%
TTM: 29%
Compounded Profit Growth
10 Years: 30%
5 Years: 26%
3 Years: 29%
TTM: 36%
Stock Price CAGR
10 Years: %
5 Years: 42%
3 Years: 41%
1 Year: 61%
Return on Equity
10 Years: 21%
5 Years: 22%
3 Years: 23%
Last Year: 24%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Equity Capital 141 141 141 141 141 149 149 149 150 150 150 151
Reserves 1,484 1,638 1,853 2,207 2,708 3,691 4,558 5,371 6,456 7,994 9,612 11,694
545 794 844 789 258 146 125 111 36 51 76 89
1,154 1,305 1,722 1,287 2,488 1,942 1,894 1,676 2,585 3,562 3,554 8,020
Total Liabilities 3,325 3,878 4,561 4,424 5,595 5,928 6,727 7,307 9,227 11,758 13,393 19,954
822 984 1,113 1,180 1,255 1,395 1,581 1,619 2,026 2,275 2,893 3,603
CWIP 179 132 165 135 186 241 98 374 249 537 701 1,130
Investments 2 4 37 39 43 86 697 813 1,382 1,824 1,757 3,365
2,322 2,758 3,246 3,070 4,112 4,206 4,351 4,500 5,569 7,121 8,042 11,855
Total Assets 3,325 3,878 4,561 4,424 5,595 5,928 6,727 7,307 9,227 11,758 13,393 19,954

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
207 221 283 352 1,224 234 1,175 461 1,452 1,292 1,810 3,747
-176 -251 -269 -178 -396 -257 -1,038 -360 -1,188 -762 -1,210 -2,820
-37 41 -19 -189 -657 16 -110 -185 -256 -396 -664 -776
Net Cash Flow -6 10 -5 -15 171 -8 27 -84 8 133 -65 152
Free Cash Flow 14 -18 14 180 953 -53 987 -38 1,005 473 896 2,308
CFO/OP 60% 69% 80% 68% 148% 48% 129% 64% 100% 76% 84% 120%

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Debtor Days 84 95 80 70 62 60 60 39 32 46 46 48
Inventory Days 95 94 134 97 127 115 111 84 102 92 78 97
Days Payable 103 102 119 66 97 81 75 46 71 79 64 31
Cash Conversion Cycle 76 86 94 101 92 93 97 77 63 59 60 114
Working Capital Days 50 49 52 57 45 71 71 67 59 60 56 75
ROCE % 17% 18% 16% 22% 28% 29% 23% 21% 27% 31% 30% 34%

Insights

In beta
Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Organized Market Share - Wires and Cables (Domestic)
%

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Number of Authorized Dealers and Distributors
Numbers
Total Full-Time Employees
Numbers
Number of Manufacturing Facilities
Numbers
Annual Installed Capacity - Wires and Cables
kms
Capacity Utilization - Wires and Cables Hubs (Average)
%
Export Contribution to Revenue
%

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

1 Recently
Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
65.99% 65.91% 65.78% 65.24% 65.02% 63.06% 63.05% 63.04% 63.01% 61.53% 61.50% 61.50%
9.66% 12.41% 13.41% 11.96% 13.63% 13.49% 12.76% 11.11% 11.45% 13.96% 14.82% 18.21%
9.75% 8.08% 7.61% 7.23% 6.93% 9.35% 10.66% 10.95% 11.61% 11.70% 11.13% 7.95%
14.61% 13.58% 13.18% 15.58% 14.42% 14.11% 13.52% 14.90% 13.94% 12.83% 12.54% 12.33%
No. of Shareholders 3,09,2293,17,4683,37,3804,23,7873,85,2853,84,9493,74,7874,27,9283,98,0643,70,8713,62,5803,62,997

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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