MarketFriction

Polycab India Ltd

NSE POLYCAB · BSE 542652 · Cables - Electricals
₹7,990.00 -0.45%
NSE close2026-10-01
52 week range6,663.00 - 10,126.00
Market cap₹1,22,102 Cr.
P/E42.6
IPO 2019 · +1385% since Nifty Next 50Nifty 100Nifty 200Nifty 500 No price band Delivery 57.1%

Price

Drag to pan, scroll or pinch to zoom. Ruler (or Shift + drag) measures a move.Dashed lines: 52 week high and low. Prices adjusted for splits and bonuses.

Financials

Consolidated, Rs crore
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales4,2184,3405,5924,6985,4985,2266,9865,9066,4777,6368,8648,210
Expenses3,6093,7714,8304,1154,8674,5065,9605,0485,4566,6707,7037,074
Operating Profit6095707625836327201,0258581,0219661,1611,136
OPM %14%13%14%12%11%14%15%15%16%13%13%14%
Other Income3571545876254880455060105
Interest273224414550335148697580
Depreciation60626667727980869710698103
Profit before tax5575467255335906179618019218421,0491,058
Tax %23%24%24%25%25%25%24%25%25%25%25%25%
Net Profit430417553402445464734600693630786797
EPS in Rs28.3727.4936.3426.3429.2430.4248.3139.3445.5441.3051.3352.07
Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales5,2025,5006,7707,9868,8308,79212,20414,10818,03922,40828,88431,188
Expenses4,7105,0206,0417,0357,7017,68110,94012,26515,54819,44524,87026,903
Operating Profit4924807299501,1291,1111,2641,8432,4922,9644,0134,284
OPM %9%9%11%12%13%13%10%13%14%13%14%14%
Other Income3275656491164161133221204229261
Interest147669411750433560108169243272
Depreciation111128133141161176202209245298386403
Profit before tax2653615677561,0101,0561,1881,7072,3592,7013,6133,871
Tax %30%36%37%34%24%16%23%25%24%24%25%
Net Profit1852333595007668869171,2821,8032,0462,7082,905
EPS in Rs13.0916.4825.3535.3950.9759.1560.8084.80118.75134.28177.48190.24
Dividend Payout %13%6%0%8%14%17%23%24%25%26%26%
10 Years5 Years3 YearsTTM1 YearLast Year
Compounded Sales Growth19%27%27%32%
Compounded Profit Growth30%24%28%29%
Stock Price CAGR%28%15%11%
Return on Equity21%21%23%23%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital141141141141141149149149150150150151
Reserves1,4891,6421,8532,2062,7063,6884,6055,3946,4818,0379,67511,858
Borrowings546796856800272157282118191161202236
Other Liabilities1,1381,2961,7291,3002,5091,9671,9781,7502,6023,7183,7218,220
Total Liabilities3,3143,8754,5794,4485,6285,9617,0157,4129,42412,06613,74920,465
Fixed Assets8229851,1281,1971,2761,4221,8701,6752,0672,3383,0113,740
CWIP179138165136193241993752515787081,139
Investments00333229656357731,3501,8221,7493,405
Other Assets2,3122,7523,2533,0834,1304,2324,4114,5885,7567,3288,28012,180
Total Assets3,3143,8754,5794,4485,6285,9617,0157,4129,42412,06613,74920,465
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity1502212963621,2302441,2525121,4281,2961,8093,811
Cash from Investing Activity-173-247-295-188-408-262-1,012-427-1,203-752-1,239-2,850
Cash from Financing Activity1545-10-190-65111-175-201-227-387-628-799
Net Cash Flow-820-8-15171-766-116-2157-59162
Free Cash Flow-52-2618179949-451,061-89694388532,340
CFO/OP48%69%83%69%148%48%134%67%98%75%82%117%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days849580706159603932414248
Inventory Days9594134128116113861041058699
Days Payable10110112097827748728264108
Cash Conversion Cycle788894709194967765656439
Working Capital Days869496574571676758595430
ROCE %17%17%16%22%28%29%23%21%27%31%30%33%
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters65.91%65.78%65.24%65.02%63.06%63.05%63.04%63.01%61.53%61.50%61.50%61.46%
FIIs12.41%13.41%11.96%13.63%13.49%12.76%11.11%11.45%13.96%14.82%18.21%19.00%
DIIs8.08%7.61%7.23%6.93%9.35%10.66%10.95%11.61%11.70%11.13%7.95%7.62%
Public13.58%13.18%15.58%14.42%14.11%13.52%14.90%13.94%12.83%12.54%12.33%11.92%
No. of Shareholders3,17,4683,37,3804,23,7873,85,2853,84,9493,74,7874,27,9283,98,0643,70,8713,62,5803,62,9973,56,777

Fundamentals

Market Cap₹ 1,22,102 Cr.
Current Price₹ 8,102
Stock P/E42.6
Book Value₹ 798
ROCE33.2 %
ROE23.0 %
Dividend Yield0.58 %
Face Value₹ 10.0
Compounded Sales Growth (TTM)32%
Compounded Profit Growth (TTM)29%
Consolidated figures.
Valuation
Market capRs 120,290 Cr
Enterprise valueRs 119,643 Cr
P/E (TTM)42.00x
Price to book10.02x
Price to sales3.86x
EV / EBITDA26.32x
EV / EBIT28.88x
EV / sales3.84x
Price to cash flow31.57x
Earnings yield2.38%
Dividend yield0.59%
P/E, 3-year average39.85x
P/B, 3-year average8.59x
P/E, 5-year average38.48x
P/B, 5-year average7.73x
Profitability
Operating margin (excl. other income)13.90%
Operating margin (incl. other income)14.69%
EBITDA margin14.57%
Pre-tax margin12.41%
Net profit margin9.18%
Net margin, latest quarter9.55%
ROE24.48%
ROCE34.63%
ROA15.62%
ROE, 3-year average23.66%
ROCE, 3-year average32.80%
ROA, 3-year average15.96%
ROE, 5-year average21.90%
ROCE, 5-year average29.91%
ROA, 5-year average15.11%
ROIC (approx.)27.33%
Tax rate25.04%
Other income / net worth1.90%
Growth
Sales growth (latest year)28.90%
Profit growth (latest year)32.28%
Sales CAGR, 3 years26.98%
Sales CAGR, 5 years26.86%
Profit CAGR, 3 years28.14%
Profit CAGR, 5 years24.81%
Sales growth QoQ-7.39%
Profit growth QoQ1.50%
Sales growth YoY (latest quarter)39.01%
Profit growth YoY (latest quarter)32.46%
Per share
EPS (TTM)Rs 190.25
EPS (latest year)Rs 177.48
EPS (latest quarter)Rs 52.10
EPS, 3-year averageRs 143.51
EPS, 5-year averageRs 115.22
Book value per shareRs 797.64
Sales per shareRs 2,071.57
Cash flow per shareRs 253.12
Free cash flow per shareRs 155.43
Dividend per share (latest year)Rs 47.00
Dividend per share, 3-year averageRs 37.33
Dividend per share, 5-year averageRs 29.20
Dividends
Dividend payout26.48%
Dividend payout, 3-year average25.94%
Dividend payout, 5-year average24.88%
Efficiency
Asset turnover1.41x
Fixed asset turnover7.72x
Inventory turnover4.05x
Inventory days90 days
Debtor days47 days
Debtors turnover7.68x
Creditor days108 days
Cash conversion cycle39 days
Working capital days30 days
Leverage
Total debtRs 236 Cr
Cash and bankRs 882 Cr
Net debtRs -647 Cr
Debt to equity0.02x
Net debt / EBITDA-0.14x
Interest coverage15.24x
Current ratio (filing 2026-03-31)1.84x
Quick ratio (filing 2026-03-31)1.14x
Trade payables (filing 2026-03-31)Rs 1,799 Cr
Owners' fund to total sources58.68%
Debt to assets1.15%
Cash flow
Cash from Operating Activity (latest year)Rs 3,811 Cr
Cash from Investing Activity (latest year)Rs -2,850 Cr
Cash from Financing Activity (latest year)Rs -799 Cr
Net Cash Flow (latest year)Rs 162 Cr
Free cash flow (latest year)Rs 2,340 Cr
FCFE (approx.: FCF + change in debt)Rs 2,373 Cr
Cash from ops / profit, 5 years1.01x
Sales to cash flow7.58x
Statement figures
Net sales (TTM)Rs 31,188 Cr
Net sales (latest year)Rs 28,884 Cr
Sales (latest quarter)Rs 8,210 Cr
Operating profit excl. other income (latest year)Rs 4,013 Cr
Operating profit (latest quarter)Rs 1,136 Cr
Other income (TTM)Rs 261 Cr
EBITDA (TTM)Rs 4,546 Cr
PBDT (TTM)Rs 4,274 Cr
Profit before tax (TTM)Rs 3,871 Cr
Tax (latest year)Rs 905 Cr
Net profit (TTM)Rs 2,864 Cr
Net profit (latest year)Rs 2,672 Cr
Net profit (latest quarter)Rs 784 Cr
Depreciation (TTM)Rs 403 Cr
Depreciation (latest quarter)Rs 103 Cr
Interest (TTM)Rs 272 Cr
Cost of goods sold (latest year)Rs 22,507 Cr
Total expenditure (latest year)Rs 24,870 Cr
Total income (latest year)Rs 29,112 Cr
Share capitalRs 151 Cr
ReservesRs 11,858 Cr
Shareholders' fundsRs 12,009 Cr
Total assetsRs 20,465 Cr
Net blockRs 3,740 Cr
Capital work in progressRs 1,139 Cr
InvestmentsRs 3,405 Cr
ReceivablesRs 3,758 Cr
InventoryRs 5,560 Cr
Other liabilitiesRs 8,220 Cr
Shares outstanding (crore)15.06
Ownership
Promoter holding61.46% (-1.55 in a year)
Computed by MarketFriction from the consolidated statements. Returns use average balances.
P/E 42.0 is at the 44th percentile of its own 7.6-year range (median 42.4, low 15.7, high 79.9).
P/B 10.02 is at the 59th percentile (median 7.93).
Monthly. Market cap from split-adjusted price; profit and book value as reported by that month. A low percentile means cheap versus its own history, not cheap versus peers.
PeriodPOLYCABNifty 50Difference
1 week-4.5%-2.8% -1.7 pts
1 month-10.2%-6.8% -3.4 pts
3 months-16.3%-7.6% -8.7 pts
6 months+16.8%+0.4% +16.3 pts
1 year+7.9%-9.9% +17.8 pts
2 years+20.9%-13.6% +34.5 pts
3 years+49.5%+14.2% +35.4 pts
5 years+240.5%+27.9% +212.6 pts
229 mutual fund schemes hold about ₹7,235 Cr. Over three months 164 bought more and 45 sold (share counts, price move removed).
FundWeightEst. Cr3m shares
ICICI Pru Large & Mid Cap Fund1.93%649 +100%
ICICI Pru Balanced Advantage Fund(M0.72%542 +9%
UTI Flexi Cap Fund1.79%432 +9%
Motilal Oswal Flexi Cap Fund2.28%323 -13%
HSBC Small Cap Fund1.46%278 +6%
UTI Mid Cap Fund2.07%264 +7%
Sundaram Mid Cap Fund1.75%260 +7%
Sundaram Mid Cap Fund1.75%253 +7%
UTI Nifty200 Momentum 30 Index Fund2.74%232 +12%
Edelweiss Mid Cap Fund0.93%185 -7%
Sundaram Large and Mid Cap Fund2.11%152 +5%
DSP Flexi Cap Fund1.01%126 +11%
Franklin India Large Cap Fund1.57%118 +100%
DSP Midcap Fund0.54%113 -41%
HSBC Large & Mid Cap Fund1.73%103 +18%
ICICI Pru Multi Cap Fund0.48%94 +6%
DSP India T.I.G.E.R Fund1.44%93 +10%
ICICI Pru Mid Cap Fund1.08%91 +6%
ICICI Pru Multi Cap Fund0.48%91 +6%
ICICI Pru Mid Cap Fund1.08%86 +6%
DSP Focused Fund2.93%78 +10%
Kotak Aggressive Hybrid Fund0.80%73 +9%
Kotak Arbitrage Fund(M0.09%69 +100%
SBI Arbitrage Fund0.14%68 +240%
Baroda BNP Paribas Balanced Advantage Fund1.27%68 -5%

Red flags

F-score 6 of 8
lookAuditor change Auditor change 2026-05-06: Polycab India Limited has informed the Exchange regarding Change in Auditors of the company.
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.

Insider trades

NSE insider and takeover-code disclosures
DateWhoRoleSideSharesValueHow
2024-12-13Amit DuhlaniImmediate relativesell45,000Rs 33.52 CrMarket Sale
2024-11-29Amit DuhlaniImmediate relativesell50,000Rs 35.65 CrMarket Sale
2024-06-07Puneet Anil SehgalImmediate relativeother60,000Gift
2024-03-14AMIT HARESH DUHLANIImmediate relativeother500,000Gift
2022-03-14AJAY THAKURDAS JAISINGHANIPromotersother5,834Gift
2022-03-14RAMESH THAKURDAS JAISINGHANIPromotersother15,333Gift
2022-03-14ANIL HARIANIEmployees/Designated Employeother3,305Gift
2022-03-14GIRDHARI THAKURDAS JAISINGHANIPromotersother4,593Gift
2022-02-10GIRDHARI THAKURDAS JAISINGHANIPromotersother10,740Inter-se-Transfer
2022-02-10AJAY THAKURDAS JAISINGHANIPromotersother3,250Off Market
2022-02-10INDER THAKURDAS JAISINGHANIPromotersother21,000Off Market
2022-01-28Rashmikant MehtaEmployees/Designated Employesell500Rs 0.13 CrMarket Sale
Latest disclosed trades by insiders, promoters and large holders. Grants, option exercises and pledges show as "other". A filing is a fact, not a signal on its own.

Latest quarter

Jun 2026
Sales ₹8,210 Cr +39.0% vs Jun 2025. Net profit ₹797 Cr +32.8%.

Activity

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No bulk or block deals on record.
Ex-dateActionFactor
2026-06-19Dividend - Rs 47 Per Share
2025-06-24Dividend - Rs 35 Per Share
2024-07-09Annual General Meeting/Dividend - Rs 30 Per Share
2023-06-21Annual General Meeting/Dividend - Rs 20 Per Share
2022-06-21Annual General Meeting/Dividend - Rs 14 Per Share
2021-07-12 Annual General Meeting/Dividend - Rs 10 Per Share
2020-07-13 Annual General Meeting
2020-03-12 Interim Dividend - Rs 7 Per Share
2019-06-18 Dividend - Rs 3 Per Share
DateTypeWhat it says
2026-09-23General UpdatesAnalyst(s)/Investor(s) meet.
2026-09-18ESOPAllotment of 4885 Shares.
2026-09-17General UpdatesAnalyst(s)/Investor(s) meet.
2026-09-15General UpdatesAnalyst(s)/Investor(s) meet.
2026-09-03General UpdatesAnalyst(s)/Investor(s) meet.
2026-09-01ESOPAllotment of 14970 Shares.
2026-09-01General UpdatesAnalyst(s)/Investor(s) meet.
2026-08-29General UpdatesAnalyst(s)/Investor(s) meet.
2026-08-25General UpdatesAnalyst(s)/Investor(s) meet.
2026-08-24Shareholder meetingVoting results.
2026-08-20Change in ManagementChange in Management
2026-08-19General UpdatesAnalyst(s)/Investor(s) meet.
2026-08-18DemiseDemise of Mr Diwaker Bharadwaj, SMP of the company on August 17, 2026.
2026-08-07General UpdatesAnalyst(s)/Investor(s) meet.
2026-08-06General UpdatesAllotment of 24640 Shares.
2026-08-04General UpdatesAnalyst(s)/Investor(s) meet.
2026-07-30General UpdatesAnalyst(s)/Investor(s) meet.
2026-07-24Shareholder meetingNotice of Postal Ballot
2026-07-22ESOPAllotment of 4750 Shares.
2026-07-20Concall / analyst meetTranscript
2026-07-16Concall / analyst meetLink of Recording
2026-07-16General UpdatesUnaudited Interim Condensed (Standalone and Consolidated) Financial Statements of the Company, along with Review Reports for the quarter ended June 30...
2026-07-16General UpdatesEarnings Presentation on the Unaudited Financial Results of the Company for the quarter ended June 30, 2026
2026-07-16Press ReleaseA press release dated July 16, 2026, titled "Press release on the Unaudited (Standalone and Consolidated) Financial Results of the Company for the qua...
2026-07-16Board meeting outcomePolycab India Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
Put / call open interest1.14
Max pain (expiry 2026-10-27)8,200
Largest call open interest at8,200
Largest put open interest at7,800
Implied volatility, at the money27.4%
Underlying at snapshot7,990.00
Open interest by strike around the price, nearest expiry. End-of-day NSE snapshot, 01-Oct-2026 15:40:00. Max pain is the strike where option buyers together would lose the most at expiry.
Trade dateShares sold short
2026-09-305
2026-09-29948
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
Order dateForumCase
2021-01-12NCLTPolycab India Limited Vs Rays Power Infra Pvt Ltd.
Orders from NCLT, NCLAT and CESTAT naming the company. Click a row for the order.
Not on any NSE surveillance list in the latest file.

Quick answers

What is the market cap of Polycab India Ltd?

Polycab India Ltd (POLYCAB) has a market capitalisation of Rs 1,22,102 Cr. at the 2026-10-01 close.

What is the P/E ratio of Polycab India Ltd?

Polycab India Ltd trades at a P/E of 42.6 on trailing twelve-month profit, at the 2026-10-01 close.

What were Polycab India Ltd's latest quarterly results?

In the Jun 2026 quarter, Polycab India Ltd sales was Rs 8,210 Cr (+39.0% vs Jun 2025) and net profit was Rs 797 Cr.

What is the 52-week high and low of Polycab India Ltd?

The 52-week high is Rs 10,126.00 and the 52-week low is Rs 6,663.00.

Data: NSE and BSE daily reports, company filings. Numbers only, not investment advice, not a SEBI-registered research service.AboutMethodologyFAQResearchContactTermsPrivacyDisclaimerUpdated 2026-10-03