Polycab India Limited
₹7,800.00+₹55.00 (+0.7%)
Last close · Data as of Oct 30, 2026
- Market cap
- ₹1,13,764 Cr
- P/E
- 46.9x
- EV / EBITDA
- 42.3x
- Revenue
- ₹21,914 Cr
- Net margin
- 9.8%
- ROCE
- 29.7%
Price chart
Technical chartScreen technicals →-0.6% over the last year
Daily closes.
Go deeper
Technical chart: candles, 9 moving averages, RSI, MACD and drawing tools
Performance
Price change over each period, before dividends.
- 1M
- -3.0%
- 3M
- -12.3%
- 6M
- -3.8%
- 1Y
- -0.6%
- 5Y
- +226.2%
52-week range
Day change +₹55.00 (+0.7%) from ₹7,745 to ₹7,800 · Last close Oct 30, 2026
Best weekday to invest, historically
The same weekly amount in POLYCAB, bought on each weekday since 2021.
AI Summary
Indian StockStrengths1
- Strong 5-year revenue CAGR of 15.4%
Concerns0
Rule-based from financial data. Not advice.
About the company
Polycab India Limited manufactures and sells wires and cables under the POLYCAB brand in India and internationally. The company operates through three segments: Wires and Cables; Fast Moving Electrical Goods (FMEG); and Engineering, Procurement and Construction (EPC).
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Polycab India Limited manufactures and sells wires and cables under the POLYCAB brand in India and internationally. The company operates through three segments: Wires and Cables; Fast Moving Electrical Goods (FMEG); and Engineering, Procurement and Construction (EPC). The Wires and Cables segment provides wires, such as PolycabSuprema house wires, PolycabMaxima+ Green wire, PolycabPrimma house wires, ETIRA house wires, PolycabOptima+, GREENWIRE 180m, and POLYCAB LF FR 180m; and cables, such as control, rubber, defense, special, fire protection, marine offshore/onshore, domestic appliance and lighting, aerial bunched, industrial, high temperature, LV power, MV power, EHV power, communication and data, and instrumentation. The Fast Moving Electrical Goods segment offers ceiling, table, pedestal, wall, exhaust, farrata, and air circulated fans; LED lighting and luminaires, such as LED Bulb, downlight, panel light, led batten, outdoor lights, and rope and strip lights; water heaters; switches and accessories; switchgears consisting of isolators, MCB, RCCB, RCBO, distribution board, ACCL, and MCB changeover switches; solar products, including solar panel and invertors; and pumps, conduits, and domestic appliances. The EPC segment designs, engineers, and supplies materials; and engages in the survey, execution, and commissioning of turn-key power distribution, transmission, and rural electrification projects. The company provides coolers and iron appliances. It operates a distribution network through authorized dealers and distributors, and retail outlets. The company was founded in 1964 and is based in Mumbai, India.
- Sector
- Industrials
- Shares outstanding
- 15.1 Cr shares
- ISIN
- INE455K01017
- BSE code
- 542652
Key statistics
Screen fundamentals →Valuation, profitability, growth and solvency at the latest close; hover a label for its meaning.
Valuation
- Market cap
- ₹1,13,764 Cr
- P/E
- 46.9x
- P/B
- 10.8x
- EV / EBITDA
- 42.3x
- EV / Sales
- 6.2x
- P/S
- 6.3x
- Earnings yield
- 2.1%
- 52-week high
- ₹10,079.40
- 52-week low
- ₹6,719.00
Profitability
- Operating margin
- 13.5%
- Net margin
- 9.8%
- EBITDA margin
- 14.7%
- ROE
- 21.7%
- ROCE
- 29.7%
- ROA
- 15.1%
- Dividend payout
- 25.0%
- Tax rate
- 24.0%
- Other income, % of PBT
- 9.5%
Growth
- RevenueLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- ₹21,914 Cr
- Revenue growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 21.4%
- Revenue CAGR, 5YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 15.4%
- EBITDALatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- ₹2,656 Cr
- EBITDA growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 36.4%
- Net profit growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 13.1%
- Net profit CAGR, 5YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 18.4%
- Cash from operationsLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- ₹1,292 Cr
- CFO growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- -11.0%
- Free cash flowLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- -₹65.0 Cr
- Asset growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 27.4%
Solvency and efficiency
- Current ratio
- 2.51
- Debt / Equity
- 0.01
- Debt / Assets
- 0.00
- Debt / EBITDA
- 0.02
- Interest coverage
- 24.36
- Financial leverage
- 1.44
- CFO / Net profit
- 0.73
- Cash / Market cap
- 6.3%
- Cash per share
- ₹472.90
- Asset turnover
- 1.54
- Fixed asset turnover
- 7.93
- Capital intensity
- 0.13
- Debtor days
- 46 days
- Inventory turnover
- 3.97
- Cash conversion cycle
- 59 days
Where the revenue went
Of every ₹100 of FY2025 revenue, ₹9 was left as net profit.
| From | To | Amount |
|---|---|---|
| Sales | Expenses | ₹19,046 Cr |
| Sales | Operating profit | ₹2,868 Cr |
| Operating profit | Interest | ₹159 Cr |
| Operating profit | Depreciation | ₹287 Cr |
| Operating profit | Profit before tax | ₹2,422 Cr |
| Other income | Profit before tax | ₹216 Cr |
| Profit before tax | Tax and other | ₹637 Cr |
| Profit before tax | Net profit | ₹2,002 Cr |
Revenue and net profit
Revenue grew 21.4% in FY2025; net profit is the dashed line.
| Date | Revenue | Net profit |
|---|---|---|
| FY2021 | ₹8,736 Cr | ₹831 Cr |
| FY2022 | ₹12,098 Cr | ₹931 Cr |
| FY2023 | ₹13,914 Cr | ₹1,269 Cr |
| FY2024 | ₹18,051 Cr | ₹1,770 Cr |
| FY2025 | ₹21,914 Cr | ₹2,002 Cr |
Cash flows
FY2025: ₹1,810 Cr from operations, ₹600 Cr free after investment (dashed).
| Date | Operating cash flow | Free cash flow |
|---|---|---|
| FY2021 | ₹1,175 Cr | ₹137 Cr |
| FY2022 | ₹461 Cr | ₹101 Cr |
| FY2023 | ₹1,452 Cr | ₹264 Cr |
| FY2024 | ₹1,292 Cr | ₹530 Cr |
| FY2025 | ₹1,810 Cr | ₹600 Cr |
Growth
Latest fiscal year FY2025 (ending March): each figure with its change over the year before.
- Revenue
- ₹21,914 Cr+21.4%1Y
- Net profit
- ₹2,002 Cr+13.1%1Y
- Cash from operations
- ₹1,810 Cr
- Free cash flow
- ₹600 Cr+13.2%1Y
- Revenue CAGR, 5Y
- 15.4%
- EBITDA CAGR, 5Y
- 17.0%
- Net profit CAGR, 5Y
- 18.4%
| Year | Revenue | Operating income | EBITDA | Net profit | CFO | FCF | ROE | Revenue growth 1Y | Net profit growth 1Y |
|---|---|---|---|---|---|---|---|---|---|
| FY2025 | ₹21,914 Cr | ₹2,868 Cr | — | ₹2,002 Cr | ₹1,810 Cr | ₹600 Cr | 20.5% | +21.4% | +13.1% |
Monthly returns
Month-by-month returns of POLYCAB across the years, with the seasonal pattern.
Balance sheet
What the company owns and owes at the end of FY2025.
| Line | FY2025 |
|---|---|
| Liabilities and equity | ₹13,393 Cr |
| Equity capital | ₹150 Cr |
| Reserves | ₹9,612 Cr |
| Borrowings | ₹76 Cr |
| Other liabilities | ₹3,554 Cr |
| Assets | ₹13,393 Cr |
| Fixed assets | ₹2,893 Cr |
| Capital work in progress | ₹701 Cr |
| Investments | ₹1,757 Cr |
| Other assets | ₹8,042 Cr |
Market cap against peers
8 peers: same sector group, nearest by size.
P/E against peers
POLYCAB trades at 46.9x earnings against a peer median of 38.3x (a 23% premium).
Peer comparison
Same-sector peers by market cap, with the median.
| Company | Market cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|
| Polycab India LimitedPOLYCABthis companyP/E ↑ premium | ₹1.1 L Cr | 46.9x | 10.8x | 21.7% | 42.3x |
| Solar Industries India LimitedSOLARINDS | ₹1.1 L Cr | 121.0x | 32.8x | 25.4% | 128.6x |
| Cummins India Ltd.CUMMINSIND | ₹1.1 L Cr | 49.5x | 15.0x | 27.0% | 47.0x |
| Ashok Leyland Ltd.ASHOKLEY | ₹1.1 L Cr | 32.0x | 9.5x | 29.7% | 22.9x |
| ABB India LimitedABB | ₹1.1 L Cr | 59.6x | 14.6x | — | — |
| Siemens Ltd.SIEMENS | ₹1.0 L Cr | 65.3x | 8.1x | — | — |
| Mazagon Dock Shipbuilders LimitedMAZDOCK | ₹1.0 L Cr | 44.9x | 12.4x | 33.1% | 37.0x |
| Bharat Heavy Electricals Ltd.BHEL | ₹92,449 Cr | 171.0x | 3.7x | 1.0% | 69.4x |
| CG Power and Industrial Solutions LimitedCGPOWER | ₹91,571 Cr | 82.2x | 12.0x | 30.9% | 66.4x |
| Peer median | — | 38.3x | 5.2x | 15.2% | 25.8x |
Year-to-date ROI
POLYCAB since 1 January, against earlier years.
Historical volatility
POLYCAB's day-to-day swings over 30, 60 and 180 days.
Financial statements
Income statement, balance sheet and cash flow as reported, in ₹ crore, grouped into plain-language lines.
Figures in ₹ crore as reported, fiscal years ending March, newest first; the trailing twelve months (TTM) last.
Operating margin by fiscal year
| Date | Operating margin |
|---|---|
| FY2021 | 12.0% |
| FY2022 | 10.0% |
| FY2023 | 13.0% |
| FY2024 | 14.0% |
| FY2025 | 13.0% |
| Line | FY2025 |
|---|---|
| RevenueSales | ₹21,914 Cr |
| Costs | |
| Interest | ₹159 Cr |
| Expenses | ₹19,046 Cr |
| Operating profitOperating Profit | ₹2,868 Cr |
| Other income and charges | |
| Profit before tax | ₹2,639 Cr |
| Tax | |
| Net profitNet Profit | ₹2,002 Cr |
| Per share |
| Line | FY2025 |
|---|---|
| Liabilities and equityTotal Liabilities | ₹13,393 Cr |
| Equity capitalEquity Capital | ₹150 Cr |
| Reserves | ₹9,612 Cr |
| Borrowings | ₹76 Cr |
| Other liabilitiesOther Liabilities | ₹3,554 Cr |
| AssetsTotal Assets | ₹13,393 Cr |
| Fixed assetsFixed Assets | ₹2,893 Cr |
| Capital work in progressCWIP | ₹701 Cr |
| Investments | ₹1,757 Cr |
| Other assetsOther Assets | ₹8,042 Cr |
| Line | FY2025 |
|---|---|
| Operating cash flowCash from Operating Activity | ₹1,810 Cr |
| Investing cash flowCash from Investing Activity | -₹1,210 Cr |
| Financing cash flowCash from Financing Activity | -₹664 Cr |
| Change in cashNet Cash Flow | -₹65 Cr |
Learn while you research
Academy chapters picked for Polycab India Limited and the metrics on this page.
- 01 Taxes on Investments (India)LTCG, STCG, dividend tax, what every Indian investor needs.6 min read
- 02 Stock Valuation BasicsHow to think about what a fair price for a stock looks like.7 min read
- 03 Valuation Multiples ExplainedThis stock trades at a P/E of 46.9, learn when high multiples are justified.6 min read
- 04 Growth Investing21% revenue growth is in the top tier, learn how to value growth.7 min read
- 05 Business Cycles & StocksThese cyclical sectors win and lose in different macro phases.6 min read
- 06 Essential Stock RatiosP/E, P/B, EV/EBITDA, what they mean and when to use each.7 min read