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Polycab India Limited (POLYCAB.NS)

INR9,532.50 +226.00 (+2.43%)
IN NSE Industrials Electrical Equipment & Parts
Address Polycab House 400016
Mumbai, IN
CEO Anurag Agarwal
IPO 2019-04-16
ISIN INE455K01017

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Also trades on Bombay Stock Exchange · POLYCAB.BO (INR) National Stock Exchange of India · POLYCAB.NS (INR)
Description

Polycab India Limited, established in 1996 and headquartered in Mumbai, India, operates as a significant manufacturer and global distributor of diverse electrical goods. Trading under its widely recognized POLYCAB brand, the company's primary business involves producing an extensive range of wires and cables, including specialized options like rubber and fire-resistant cables. Beyond its core wiring segment, Polycab offers a broad spectrum of consumer electrical products. This encompasses various fan types, such as ceiling, table, pedestal, wall, exhaust, farrata, and air-circulating models, alongside a selection of lighting fixtures and luminaires. The company also provides a comprehensive suite of electrical accessories, including modern touch switches, modular plates, traditional switches, and their associated components. Its robust switchgear lineup features isolators, Miniature Circuit Breakers (MCB), Residual Current Circuit Breakers (RCCB), Residual Current Breakers with Overcurrent Protection (RCBO), Distribution Boards (DB), Automatic Changeover Current Limiters (ACCL), and MCB changeover switches. Expanding into renewable solutions, Polycab supplies solar power products like grid-tie inverters, DC MCBs, solar DC cables, and photovoltaic panels. For electrical installations, it manufactures UPVC conduits and concealed boxes. The company's product offerings further extend to a variety of pumps—including self-priming monobloc, centrifugal monobloc, borewell submersible, domestic openwell submersible, and jet pumps—which are complemented by submersible flat and round cables. Additionally, Polycab provides essential household appliances such as water heaters, air coolers, and irons. In the services sector, Polycab engages in the end-to-end design, engineering, procurement, installation, and commissioning of critical power infrastructure projects, specifically in power distribution, transmission, and rural electrification. The company's substantial market penetration is supported by a robust distribution network comprising 3,464 authorized dealers and distributors, with its products accessible through 100,000 retail outlets.

Market Cap & Enterprise Value
Merger & Acquisition History

No mergers or acquisitions recorded for this company.

Technical Outlook
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Signal Summary Loading…
Indicator 1D1W2W3W1M
Each column is computed on that timeframe's candles (1D = daily, 1W ≈ weekly, 1M ≈ monthly), not on the same last day. ▲ bullish · ▼ bearish · — neutral. The Net row counts signals per column; hover any cell (or the indicator name) to see the exact rule behind it.
Day Score & sub-scores
Statistical fingerprint & regime detail
Conditional historical analysis
Customize analysis (advanced)
Indicative levels generated algorithmically. Not financial advice.
Risk Profile
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Price Chart
Averages
Trend
Price
Levels
Draw
INR9,532.50 +226.00 (+2.43%)
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Volume Profile
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Liquidity & share structure
Average Volume
415.4K
Beta
0.64
Float Shares
70.34M
Free Float %
46.7%
Price Performance
1D5D1M3M6M YTD1Y3Y5Y10YMax
-0.49% +6.15% +16.74% +16.14% +17.47% +18.41% +50.55% +166.20% +484.41% +1,277.75% +1,277.75%
Rolling Volatility
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Drawdown
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Relative Strength
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Monthly Returns Heatmap
From To
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Annual Monthly Returns
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Daily Returns Distribution
vs.
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Revenue flow

Revenue by geography

Revenue by segment

From To

Revenue composition

From To

By product

By geography

Financial Statements

Income Statement

Balance Sheet

Cash Flow Statement

Key Metrics

Financial Ratios

Employees

Financial Growth (CAGR)

Market Data

Price Targets & DCF
Current price
9,532.50
DCF (Unlevered) 5,810.61 -39.0%
DCF (Levered) 4,906.12 -48.5%

DCF figures are point estimates: small changes in growth or discount-rate assumptions move them materially. Read them as a reference, not a precise target.

Ratings Trend (MoM) 74% Bullish
Rating 2026-05 Change
Strong Buy 6 0
Buy 17 0
Hold 7 0
Sell 1 0
Strong Sell 0 -1
Quality scores
Altman Z-Score
12.95
Safe zone
Piotroski F-Score
5 / 9
Average
MOAT Score
5 / 10
Developing
Composite Rating
B+
Overall Score
3 / 5
Medium
DCF Score
3 / 5
Medium
ROE Score
5 / 5
High
ROA Score
5 / 5
High
D/E Score
3 / 5
Medium
P/E Score
2 / 5
Medium
P/Book Score
1 / 5
Low
Operational MOAT
✗ Below peers
  • Revenue growth Electrical Equipment & Parts: +13.1%
    +28.9% Q1'26: +26.9% (vs Q1'25)
  • EPS growth Electrical Equipment & Parts: +22.4%
    +32.3% Q1'26: +8.0% (vs Q1'25)
  • FCF margin FCF growth · Electrical Equipment & Parts: +27.2%
    +0.4% Q1'26: -20.6% (vs Q1'25)
  • EBIT margin Electrical Equipment & Parts: +8.2%
    +12.5% Q1'26: +12.0% (vs Q1'25)
  • ROIC Electrical Equipment & Parts: +6.4%
    +22.0% Q1'26: +25.8% (vs Q1'25)
  • Share dilution Electrical Equipment & Parts: +0.0%
    +0.0% Q1'26: -1.6% (vs Q1'25)
  • Debt / EBITDA Net debt/EBITDA · Electrical Equipment & Parts: -0.54×
    1.12× Q1'26: 0.97× (vs Q1'25)
Valuation Multiples From To
Price Forecast (3Y) From To
Model
Adjust
P/E
Theoretical Return — If Invested Today

* These projections are based on analyst consensus estimates and user-defined valuation multiples. This table is for informational purposes only and does not constitute a recommendation to buy or sell any security. Past performance is not indicative of future results.

DCF Interactive Model (UFCF)
Projection years:
Market assumptions
WACC components (optional)
Ke (Cost of Equity) = Rf + β (0.61) × ERP
WACC = 97% × Ke + 3% × Kd (5.4%) × (1−t)

Modifying these values recalculates WACC automatically.

Business assumptions
Intrinsic value (base): 1,109.02 Current price: 9,532.50
Enterprise Value: Equity Value: Terminal Value: TV as % of EV:

Base values reflect the latest available data for this company and market conditions.

Consensus Estimates
Metric Mar 2019
actual
Mar 2020
actual
Mar 2021
actual
Mar 2022
actual
Mar 2023
actual
Mar 2024
actual
Mar 2025
actual
Mar 2026
31 Rev. Ana.
28 EPS Ana.
Mar 2027
30 Rev. Ana.
28 EPS Ana.
Mar 2028
29 Rev. Ana.
26 EPS Ana.
Mar 2029
14 Rev. Ana.
11 EPS Ana.
Mar 2030
9 Rev. Ana.
6 EPS Ana.
Revenue
79.86B
est: 79.33B (+0.7%)
88.30B
est: 89.10B (-0.9%)
87.92B
est: 87.78B (+0.2%)
122.04B
est: 121.10B (+0.8%)
141.08B
est: 140.82B (+0.2%)
180.39B
est: 188.48B (-4.3%)
224.08B
est: 220.06B (+1.8%)
285.94B
273.25B – 302.62B
+29.9% YoY
349.07B
326.28B – 375.77B
+22.1% YoY
409.11B
368.90B – 435.64B
+17.2% YoY
473.96B
473.88B – 474.04B
+15.9% YoY
471.24B
432.08B – 504.32B
-0.6% YoY
EBITDA
9.65B
est: 9.93B (-2.9%)
11.51B
est: 11.16B (+3.2%)
10.98B
est: 10.07B (+9.1%)
12.52B
est: 12.16B (+3.0%)
18.38B
est: 13.64B (+34.8%)
24.71B
est: 24.12B (+2.4%)
29.43B
est: 27.94B (+5.3%)
36.59B
34.96B – 38.72B
+30.9% YoY
44.67B
41.75B – 48.08B
+22.1% YoY
52.35B
47.20B – 55.74B
+17.2% YoY
60.65B
60.64B – 60.66B
+15.9% YoY
60.30B
55.29B – 64.53B
-0.6% YoY
EBIT
8.25B
est: 8.79B (-6.1%)
10.04B
est: 9.87B (+1.7%)
9.35B
est: 8.03B (+16.4%)
10.65B
est: 9.70B (+9.8%)
16.43B
est: 10.88B (+51.0%)
22.47B
est: 21.59B (+4.1%)
26.70B
est: 25.01B (+6.7%)
32.75B
31.30B – 34.66B
+30.9% YoY
39.99B
37.37B – 43.04B
+22.1% YoY
46.86B
42.26B – 49.90B
+17.2% YoY
54.29B
54.28B – 54.30B
+15.9% YoY
53.98B
49.49B – 57.77B
-0.6% YoY
Net Income
5.00B
est: 5.12B (-2.3%)
7.59B
est: 7.81B (-2.8%)
8.82B
est: 6.26B (+41.0%)
9.09B
est: 7.56B (+20.2%)
12.71B
est: 8.48B (+49.9%)
17.84B
est: 17.80B (+0.2%)
20.20B
est: 19.23B (+5.1%)
26.72B
24.96B – 28.48B
+39.0% YoY
31.48B
29.80B – 35.10B
+17.8% YoY
36.91B
32.69B – 41.50B
+17.2% YoY
42.34B
36.64B – 48.30B
+14.7% YoY
42.49B
37.90B – 46.37B
+0.4% YoY
SGA
4.16B
est: 3.41B (+22.0%)
4.82B
est: 3.83B (+26.0%)
4.29B
est: 9.01B (-52.4%)
4.96B
est: 10.89B (-54.5%)
5.87B
est: 12.21B (-51.9%)
8.14B
est: 9.42B (-13.5%)
8.69B
est: 10.91B (-20.3%)
14.29B
13.65B – 15.12B
+30.9% YoY
17.44B
16.30B – 18.78B
+22.1% YoY
20.44B
18.43B – 21.77B
+17.2% YoY
23.68B
23.68B – 23.69B
+15.9% YoY
23.55B
21.59B – 25.20B
-0.6% YoY
EPS
35.39
est: 33.89 (+4.4%)
51.16
est: 51.73 (-1.1%)
56.24
est: 52.45 (+7.2%)
56.04
est: 59.38 (-5.6%)
84.93
est: 84.75 (+0.2%)
118.93
est: 118.59 (+0.3%)
134.34
est: 128.40 (+4.6%)
179.20
165.31 – 188.62
+39.6% YoY
213.63
197.33 – 232.45
+19.2% YoY
251.60
216.48 – 274.84
+17.8% YoY
286.02
242.65 – 319.84
+13.7% YoY
281.40
251.01 – 307.08
-1.6% YoY
Historical Ratings (3M)
Date Rating Overall DCF ROE ROA D/E P/E P/B
2026-05-07 B+ 3/5 3/5 5/5 5/5 3/5 2/5 1/5
2026-05-06 B+ 3/5 3/5 5/5 5/5 3/5 2/5 1/5
2026-05-05 B+ 3/5 3/5 5/5 5/5 3/5 2/5 1/5
2026-05-04 B+ 3/5 3/5 5/5 5/5 3/5 2/5 1/5
2026-04-30 B+ 3/5 3/5 5/5 5/5 3/5 2/5 1/5
2026-04-29 B+ 3/5 3/5 5/5 5/5 3/5 2/5 1/5
2026-04-28 B+ 3/5 3/5 5/5 5/5 3/5 2/5 1/5
2026-04-27 B+ 3/5 3/5 5/5 5/5 3/5 2/5 1/5
2026-04-24 B+ 3/5 3/5 5/5 5/5 2/5 2/5 1/5
2026-04-23 B 3/5 3/5 5/5 5/5 2/5 1/5 1/5
2026-04-22 B 3/5 3/5 5/5 5/5 2/5 1/5 1/5
2026-04-21 B 3/5 3/5 5/5 5/5 2/5 1/5 1/5
2026-04-20 B 3/5 3/5 5/5 5/5 2/5 1/5 1/5
2026-04-17 B 3/5 3/5 5/5 5/5 2/5 1/5 1/5
2026-04-16 B 3/5 3/5 5/5 5/5 2/5 1/5 1/5
2026-04-15 B 3/5 3/5 5/5 5/5 2/5 1/5 1/5

Owner Earnings

Owner's Earnings (history) From To
Owner alignment
Owner's Earnings TTM
5.34B
OE per share TTM
33.82
Owner's Yield
0.40%
Maintenance CapEx ratio
7.67%
Maint CapEx / Avg PPE
17.5%

Ownership Overview

Ownership breakdown

Ownership breakdown not available.

At a glance
Institutional holders
Total invested
Insider transactions (90d)
0
Beneficial owners (>5%)
0
Beneficial owners (>5%)

No beneficial ownership filings recorded.

Institutional Activity (13F)

Institutional ownership trend

Institutional history not available.

Top institutional holders

Top holders not available.

Insider Activity

Insider Activity — Latest Quarter

No insider activity available.

Insider buys vs sells (history)

Insider history not available.

Recent insider transactions

No recent insider transactions.

Executive team

Top executives
EBIT / Employee
7.47M
Shares Outstanding
150.55M

Executive compensation

Executive compensation (annual)

Executive compensation not available.

CEO compensation breakdown

No CEO compensation history available.

Proxy statements

Proxy statements (DEF 14A)

No proxy statements available for this company yet.

Recent SEC filings

Recent SEC filings

No SEC filings available for this company yet.

Executive team

NameTitleCompensationGender
Inder Thakurdas Jaisinghani Chairman & MD 345M male
Nikhil Ramesh Jaisinghani Joint Managing Director 27M male
Bharat A. Jaisinghani Joint Managing Director 27M male
Rakeshkumar Talati Chief Sustainability Officer & Director of sustainability 24M male
Manita Carmen A. Gonsalves Head of Legal, Company Secretary & Compliance Officer 4M female
Niyant Maru Chief Financial Officer male
Anurag Agarwal Chief Executive Officer of Global Exports & New Businesses (EHV & Conductor) male
Shwetal Basu Senior Vice President and Head of Brand & Marketing female
Ashish Kakkar Chief Human Resource Officer male
Chirayu Upadhyaya Head of Investor Relations male
Diwaker Bharadwaj President of Automation/Serialisation, Packaging & Brand Protection male
Gyan Shanker Pandey Executive President and Chief Digital & Information Officer male
ESG Score History

No data available for this company.

Senate Trading Activity

No Senate trading activity found for this company.

House Trading Activity

No House trading activity found for this company.

Market share among peers
Peer comparison — filtered group (TTM)
Your opinion

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Dividend yield history

Dividend history

Earnings history

Earnings reports

Stock splits