Polycab India Limited

Polycab India Limited

POLYCAB.BO
Polycab India LimitedIN flagBombay Stock Exchange
9,587.95
INR
+44.35
- -
1.44TMarket Cap
Polycab India Limited
POLYCAB.BO
(Bombay Stock Exchange)

Recent

price

9,587.95

P/E

ratio

- -

div

yld

- -

ROIC.AI

2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
TTM
FRC
361.76
381.68
469.92
554.26
580.46
575.52
804.24
931.75
1,183.91
1,465.2
1,878.25
1,564.43
Revenue per Share
13.09
16.48
25.35
35.39
51.16
59.2
60.87
84.93
118.93
134.34
177.53
147.35
Basic EPS, GAAP
-2.02
1.22
11.59
66.84
-3.09
71.06
-1.01
63.36
29.18
55.78
154.82
88.96
Free Cash Flow per Basic Share
1.85
1.25
1.2
0.2
12.08
- -
9.99
14
19.98
30
36.36
- -
Dividend per Share
99.16
114.18
139.19
174.55
205.26
263.85
314.38
385.1
482.64
585.61
727.44
- -
Book Value per Share
125.98
140.98
166.35
201.97
259.45
319.67
371.53
444.71
548.13
658.4
805.44
- -
Tangible Book Value per Share
141
141
141
141
148
149
149
150
150
150
151
150
Basic Weighted Avg Shares
51,083
53,896
66,356
78,265
86,129
85,758
120,047
139,419
177,604
220,314
282,695
235,299
Sales/Revenue/Turnover
8.03
7.26
9.42
10.57
11.74
10.92
8.98
11.79
12.73
12.12
13.14
12.4
Operating Margin (%)
1,111
1,279
1,330
1,414
1,609
1,866
2,088
2,092
2,450
2,981
3,859
3,167
Depreciation Expense
1,848
2,327
3,580
4,997
7,591
8,821
9,086
12,708
17,840
20,200
26,720
22,162
Net Income, GAAP
30.41
35.53
36.74
33.83
24.2
16.83
24.25
24.85
23.58
24.26
25.04
24.41
Effective Tax Rate (%)
3.62
4.32
5.4
6.38
8.81
10.29
7.57
9.11
10.05
9.17
9.45
9.42
Profit Margin (%)
7,020
7,801
10,715
13,052
20,408
27,581
33,998
42,883
51,198
58,088
66,953
- -
Working Capital
1,009
1,618
1,589
889
408
1,263
274
266
471
1,129
1,196
- -
LT Debt
17,856
19,968
23,517
28,554
38,514
47,728
55,688
66,746
82,433
99,098
121,268
- -
Total Equity
- -
9.54
13.41
17.28
21.18
17.29
15.34
18.11
18.97
18.72
19.77
41.78
Return on Invested Capital (%)
- -
11.74
15.42
19.5
25.78
24.04
20.12
21.58
22.3
21.31
21.43
48.67
Return on Capital (%)
- -
15.45
20.01
22.56
27.55
25.29
21.07
24.31
27.44
25.18
27.05
58.1
Return on Common Equity (%)

Capital Structure

FRC

in mil. unless spec.
Dec'25
Mar'25
Jun'26
ST Debt
- -
13,958
- -
LT Borrowings
- -
419
- -
LT Finance Leases
- -
709
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
- -
150
- -
Market Capitalization
1,093,235
774,119
984,950

Working Capital

FRC

in mil. unless spec.
Dec'25
Mar'25
Jun'26
Total Current Assets
- -
93,190
- -
Cash, Cash Equivalents & STI
- -
25,453
- -
Accounts Receivable, Net
- -
25,963
- -
Inventories
- -
36,613
- -
Total Current Liabilities
- -
35,101
- -
Payables & Accruals
- -
- -
- -
ST Debt
- -
13,958
- -
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
21.25%
20.53%
22.37%
Free Cash Flow
-762.27%
-1,254.38%
177.8%
Net Income, GAAP
31.62%
25.75%
32.28%
Sales/Revenue/Turnover
19.21%
27.17%
28.31%
Total Cash Common Dividend
- -
27.71%
21.32%

Quarterly Revenue

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
38,497
42,177
43,405
53,129
177,604
2025
46,980
54,984
51,397
69,858
220,314
2026
59,060
74,749
88,645
- -
282,695

Quarterly Earnings Per Share

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
26.68
28.38
27.5
- -
118.93
2025
26.35
29.25
30.42
48.31
134.34
2026
39.36
41.3
52.18
- -
177.53

Quarterly Dividends Per Share

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
20.01
- -
- -
- -
19.98
2025
- -
- -
- -
- -
30
2026
- -
- -
1.38
- -
36.36
Business
Polycab India Limited is a leading manufacturer and provider of electrical products and solutions operating primarily in India with a growing international presence. The company specializes in the manufacturing and distribution of wires and cables under brands such as Polycab and Etira, covering categories like low voltage power cables, control cables, industrial cables, heat-resistant cables, medium and high voltage cables, renewable energy cables, fire-resistant cables, rail transport cables, rubber cables, welding cables, optical fiber cables, LAN cables, coaxial cables, CCTV cables, data cables, telephone cables, and speaker cables. Beyond cables and wires, Polycab offers a comprehensive range of Fast-Moving Electrical Goods (FMEG) including electric fans, LED lighting and luminaires, switches, switchgear, solar products, conduits, and related accessories. It also delivers engineering, procurement, and construction (EPC) services for overhead and underground power transmission projects and railway electrification. The company operates across multiple business segments including Wires & Cables, FMEG, EPC projects, and solar energy solutions, targeting residential, industrial, and infrastructure clients across India and select international markets. Founded in 1996 and headquartered in Mumbai, Polycab India Limited has become one of the largest players in the wires and cables industry in India, with diversified offerings that support power distribution, renewable energy adoption, and smart electrical solutions. Recent major company developments include a strong financial performance with a 55.65% year-over-year increase in consolidated net profit reported in Q2 FY26, driven by robust growth in its wire & cable and FMEG business segments. The company has also enhanced its senior management team with the appointment of a new Executive President - Finance, who will soon be designated as Chief Financial Officer, reflecting strategic realignment for continued growth. Additionally, Polycab has engaged in promoter stake sales through block deals in 2024-2025, signaling capital restructuring moves. The company continues to innovate and expand its product portfolio, particularly in energy-efficient and sustainable products like the GreenPro certified house wires and solar solutions, positioning itself for long-term growth amid rising demand for renewable energy and smart electrical infrastructure. Polycab India Limited remains almost debt free, with a demonstrated track record of profitable growth averaging a CAGR of over 20% in the last five years. It continues to lead the Indian market in wires and cables while expanding its footprint in the fast-growing FMEG segment comprising electrical appliances and lighting solutions. The combination of manufacturing excellence, broad product range, strategic investments, and a strong balance sheet places Polycab India Limited as a prominent player in electrical equipment and infrastructure solutions in the region.