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Polycab India (POLYCAB) had a P/E of 37.5× on 6 Nov 2026, above the industry P/E of 30.0×, and the shares are 22% below their 52-week high. Its ROCE of 30% is the highest among the 7 largest Electrical Equipment & Parts peers, and sales and net profit grew 27% and 28% a year over 3 years. It has almost no debt, and its dividend yield is 0.6%. It is a large-cap company with a market cap of ₹1.2 lakh crore, ranked 3rd of 97 Electrical Equipment & Parts companies by market cap; the shares rose 3.8% over the past year.

As of 6 Nov 2026Prices are delayed about 15 minutes; fundamentals are from the quarter ended Sep 2026.How we calculate this

past year
Open
₹7,788.00
Day high
₹7,871.00
Day low
₹7,526.50
Prev. close
₹7,849.00
Volume
4.2 L

Health check

4 good · 1 fair · 1 to check
  • ReturnsIn line

    +3.8% over a year, better than 3 of 7 peers.

  • Price tagPricier

    P/E 37.5 vs industry 30.0.

  • GrowthStrong

    Sales +26.6%, profit +28.1% a year over 3 years.

  • ProfitabilityStrong

    ROCE 30.4% vs peer median 22.1%.

  • Balance sheetSolid

    Practically debt-free, Piotroski 6 of 9.

  • Red flagsNone found

    No warning signs in the headline numbers.

Compared with 7 industry peers. Computed from reported figures. Educational, not a recommendation.

Electrical Equipment & Parts

96 listed peers. Screen the industry

Large cap

₹1.2L Cr, #3 of 97 in its industry by size.

Defensive

Beta 0.70 vs the NIFTY 50: moves less than the market.

Key metrics

Last 12 months to Sep 2026: sales ₹34,609 Cr · profit ₹3,156 Cr
Market cap
₹1.2L Cr
Large cap
P/E
37.5
Industry 30.0
Price to book
9.06
Peers 7.24
Dividend yield
0.60%
ROE
26.8%
Peers 18.0%
ROCE
30.4%
Peers 22.1%
Debt to equity
0.02
Debt ₹272 Cr
EPS (TTM)
₹209.86
Face value ₹10
OPM (TTM)
13.6%
Net margin 9.1%
Sales growth
+52.8%
Latest quarter vs a year ago
Profit growth
+42.5%
Latest quarter vs a year ago
Price to sales
3.43
EV/EBITDA 24.2

Strengths and risks

Strengths

  • Return on equity of 26.8%.
  • Return on capital employed of 30.4%.
  • Practically debt-free.
  • Quarterly profit up 42.5% on a year ago.
  • Quarterly sales up 52.8% on a year ago.

No obvious red flags in the headline numbers.

Derived automatically from reported figures. Not a recommendation.

About Polycab India

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…

Headquarters
Mumbai
Sector
Industrials
ISIN
INE455K01017
Website
polycab.com

Price range

52 weeks

₹6,663.00₹10,126.00

Today

₹7,526.50₹7,871.00
Avg volume (3M)
4 L
1-year return
plus 3.8%
From 52-week high
minus 22.3%

Analyst consensus

30 analysts
BuyMean target ₹9,924.30 plus 26.1%

Target range, with today’s price

Low ₹8,500.00High ₹11,600.00

Today’s price ₹7,871.00 is below the lowest analyst target.

Next results expected around 14 Jan 2027

Consensus from Yahoo Finance. Not a recommendation.

Peers · Electrical Equipment & Parts

Capital-heavy industry columns

Compare with peersScreen the whole industry
Company
POWERINDIAHitachi Energy India27,800.00minus 1.42%1,23,911107.795.324.9%16.1%0.0222.2%plus 37.9%
CGPOWERCG Power and Industrial Solutions773.00minus 4.43%1,21,78588.672.519.3%13.1%0.0221.2%plus 8.2%
POLYCABPolycab India7,871.00plus 0.28%1,18,61337.529.030.4%13.6%0.0226.6%plus 3.8%
HAVELLSHavells India1,128.00plus 5.61%70,78942.630.022.1%9.1%0.029.9%minus 28.1%
APARINDSApar Industries14,106.00minus 9.65%59,06541.630.726.7%9.5%0.1217.0%plus 87.2%
KEIKEI Industries3,988.00minus 1.80%38,14336.129.918.7%11.0%0.0419.1%plus 1.8%
HONAUTHoneywell Automation India30,080.00minus 0.79%26,61347.035.715.7%13.8%0.0210.9%minus 17.5%
SCHNEIDERSchneider Electric Infrastructure1,063.40minus 6.37%25,426157.868.024.8%11.5%0.7117.6%plus 27.6%
Median of 7 peers–−1.80%59,06547.035.722.1%11.5%0.0217.6%8.2%

Quarterly results

Consolidated, ₹ crore
SalesSelect a row below to chart it
₹ CrJun 25Dec 25Mar 26Jun 26Sep 26
5,9067,4758,8648,2109,899
5,0486,5037,7037,0748,476
8589711,1611,1361,422
14.5%13.0%13.1%13.8%14.4%
79.9−2.460.410588.4
51.357.874.68093.6
85.710697.8103111
–36.6–––
8018421,0491,0581,306
25.1%25.2%25.1%24.7%24.2%
592622773784977
39.2141.1952.0051.9464.78

Sep 25 not reported by the data source.

Profit & loss

Yearly, ₹ crore
Sales CAGR 3Y
+26.6%
Profit CAGR 3Y
+28.1%
EPS CAGR 3Y
+27.8%
ROE
26.8%
Net profitSelect a row below to chart it
₹ CrMar 2023Mar 2024Mar 2025Mar 2026
13,94217,76022,03128,270
–+27.4%+24.0%+28.3%
12,08915,25419,06324,168
1,8522,5062,9684,102
13.3%14.1%13.5%14.5%
30.211647.3−32.9
44.291.4140195
209245298386
77.973.7123126
1,7072,3592,7013,613
24.8%23.6%24.3%25.0%
1,2711,7842,0202,672
–+40.4%+13.2%+32.3%
84.66118.49133.80176.95

Forecast

Your assumptions, not a prediction

Balance sheet

At each financial year end, ₹ crore
Total assetsSelect a row below to chart it
₹ CrMar 2023Mar 2024Mar 2025Mar 2026
150150150151
6,4878,0379,67811,858
1,3352,0231,5094,501
1,4531,8692,4393,966
9,42512,07913,77620,476
2,3813,0463,8825,104
3348069601,456
725.468.255.2
2,0502,2342,5454,062
4,6535,9686,3219,799
9,42512,07913,77620,476

Cash flow

Yearly, ₹ crore
Cash from operationsSelect a row below to chart it
₹ CrMar 2023Mar 2024Mar 2025Mar 2026
1,4281,2961,8093,811
−1,203−752−1,239−2,850
−227−387−628−799
−2.2157−59.1162
−479−859−970−1,481
9484388392,330
−209−300−451−547

Shareholding pattern

Source: NSE filings
61.4%
promoters
  • Promoters61.44%
  • Public38.56%
  • As of 30 Sep 2026
QuarterSplitPromotersPublicPromoter change
30 Sep 202661.44%38.56%minus 0.02
30 Jun 202661.46%38.54%minus 0.04
31 Mar 202661.50%38.50%0.00
31 Dec 202561.50%38.50%minus 0.02
30 Sep 202561.52%38.48%–

Major shareholders

NSE filing

Filings & events

News

No recent news coverage found.

My notes

Private to you