POLYCAB

Polycab India Limited

India's largest wires and cables maker, also in electrical goods and EPC contracting

Industrials›Capital Goods›Industrial Products›Cables - Electricals

polycab.com(opens the company website in a new tab)
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Key metrics

Price as of 2026-10-16

Stock price
₹8219.00
Market cap
1,23,854 Cr
Stock P/E
39.2
P/B
9.46
Dividend yield
0.6%
ROE (FY26)
22.0%
ROCE (FY26)
31.5%
Operating margin (FY26)
12.5%
Debt / equity (FY26)
0.01
OCF / EBITDA (FY26)
95.1%
OCF / EBITDA (3Y)
73.1%

Full years shown; sign in free for the trailing twelve months. Learn about these metrics →

Price & valuation

Share price and valuation multiples (P/E, P/B and more) over time.

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Compare with peers

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What you need to know

Polycab makes wires and cables and fast-moving electrical goods (FMEG) such as fans and lights, and also runs an engineering, procurement and construction (EPC) business.

Company snapshot

1stBy market cap

Ranked among 14 companies in Cables - Electricals.

Segment mix

Reportable segments as of 2024-12-31 (Consolidated). Revenue share = segment revenue ÷ total revenue.

Largest segment: 84.6% of revenue

SegmentRevenue shareRevenuePBTAssets
Less: Inter segment result—0 Cr-44 Cr—
a) Wires and Cables
84.6%
13,047 Cr1,666 Cr—
b) FMEG
7.8%
1,206 Cr-41 Cr—
c) Others
10.4%
1,603 Cr182 Cr—

Shares add up to 103% because segment revenues are before inter-segment eliminations.

What we see

Positives
  • ✓Debt-to-equity of 0.01x — the company is largely funded by its own money, not borrowed funds.
2 more signals from the filings.Sign in free to see them all

Statement tables · Consolidated

Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.

Amounts in ₹ Cr · tap + to expand rows

Quarterly results

Quarterly · ₹ Cr · tap + rows to expand

MetricDec 2023Mar 2024Jun 2024Sept 2024Dec 2024Mar 2025Jun 2025Sept 2025Dec 2025Mar 2026Jun 2026Sept 2026
Sales4,340 Cr5,592 Cr4,698 Cr5,498 Cr5,226 Cr6,986 Cr5,906 Cr6,477 Cr7,636 Cr8,864 Cr8,210 Cr9,899 Cr
Operating expenses (approx.)3,771 Cr4,830 Cr4,115 Cr4,867 Cr4,506 Cr5,960 Cr5,048 Cr5,456 Cr6,670 Cr7,703 Cr7,074 Cr8,476 Cr
EBITDA570 Cr762 Cr583 Cr632 Cr720 Cr1,025 Cr858 Cr1,021 Cr966 Cr1,161 Cr1,136 Cr1,422 Cr
OPM %13.1%13.6%12.4%11.5%13.8%14.7%14.5%15.8%12.7%13.1%13.8%14.4%
Other income71 Cr54 Cr58 Cr76 Cr25 Cr48 Cr80 Cr45 Cr50 Cr60 Cr105 Cr88 Cr
Interest32 Cr24 Cr41 Cr45 Cr50 Cr33 Cr51 Cr48 Cr69 Cr75 Cr80 Cr94 Cr
Depreciation62 Cr66 Cr67 Cr72 Cr79 Cr80 Cr86 Cr97 Cr106 Cr98 Cr103 Cr111 Cr
Profit before tax546 Cr725 Cr533 Cr590 Cr617 Cr961 Cr801 Cr921 Cr842 Cr1,049 Cr1,058 Cr1,306 Cr
Tax %23.8%23.7%24.7%24.6%24.7%23.5%25.1%24.8%25.2%25.1%24.7%24.2%
Net profit417 Cr553 Cr402 Cr445 Cr464 Cr734 Cr600 Cr693 Cr630 Cr786 Cr797 Cr990 Cr
EPS (₹)₹27.50₹36.37₹26.35₹29.25₹30.42₹48.31₹39.36₹45.54₹41.30₹52.18₹52.09₹64.87

Profit & loss (annual)

Annual · last column is TTM · ₹ Cr · tap + to expand

MetricMar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales5,714 Cr6,047 Cr6,924 Cr7,956 Cr8,830 Cr8,927 Cr12,204 Cr14,108 Cr18,039 Cr22,408 Cr28,884 CrSign in free for the trailing twelve months
Operating expenses (approx.)5,223 Cr5,567 Cr6,183 Cr7,033 Cr7,695 Cr7,760 Cr10,939 Cr12,256 Cr15,548 Cr19,448 Cr24,878 CrSign in free for the trailing twelve months
EBITDA491 Cr480 Cr741 Cr923 Cr1,135 Cr1,167 Cr1,265 Cr1,852 Cr2,492 Cr2,960 Cr4,006 CrSign in free for the trailing twelve months
OPM %8.6%7.9%10.7%11.6%12.9%13.1%10.4%13.1%13.8%13.2%13.9%Sign in free for the trailing twelve months
Other income33 Cr76 Cr62 Cr93 Cr93 Cr128 Cr90 Cr133 Cr221 Cr208 Cr236 CrSign in free for the trailing twelve months
Interest147 Cr66 Cr94 Cr117 Cr50 Cr53 Cr35 Cr60 Cr108 Cr169 Cr243 CrSign in free for the trailing twelve months
Depreciation111 Cr128 Cr133 Cr141 Cr161 Cr187 Cr202 Cr209 Cr245 Cr298 Cr386 CrSign in free for the trailing twelve months
Profit before tax265 Cr361 Cr577 Cr756 Cr1,010 Cr1,065 Cr1,211 Cr1,707 Cr2,359 Cr2,701 Cr3,613 CrSign in free for the trailing twelve months
Tax %30.4%35.5%35.7%33.8%24.2%16.8%24.3%24.9%23.6%24.3%25.0%Sign in free for the trailing twelve months
Net profit185 Cr233 Cr371 Cr500 Cr766 Cr886 Cr917 Cr1,282 Cr1,803 Cr2,046 Cr2,708 CrSign in free for the trailing twelve months
EPS (₹)₹13.09₹16.48₹26.23₹35.39₹51.16₹59.20₹60.87₹84.87₹118.93₹134.34₹177.53Sign in free for the trailing twelve months
Dividend payout %—————0.0%16.3%16.3%16.6%22.1%20.2%Sign in free for the trailing twelve months
Sign in free for the trailing twelve months

The latest four quarters added up, next to each full year

Balance sheet

Annual · ₹ Cr · tap + rows to expand

MetricMar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity capital141 Cr141 Cr141 Cr141 Cr149 Cr149 Cr149 Cr150 Cr150 Cr150 Cr151 Cr
Reserves1,642 Cr1,853 Cr2,208 Cr2,706 Cr3,688 Cr4,605 Cr5,394 Cr6,481 Cr8,037 Cr9,675 Cr11,858 Cr
Borrowings796 Cr821 Cr728 Cr192 Cr122 Cr193 Cr83 Cr155 Cr90 Cr109 Cr132 Cr
Other liabilities1,294 Cr1,761 Cr1,362 Cr2,581 Cr1,988 Cr2,049 Cr1,760 Cr2,602 Cr3,746 Cr3,757 Cr8,217 Cr
Total liabilities3,875 Cr4,579 Cr4,443 Cr5,628 Cr5,962 Cr7,015 Cr7,412 Cr9,425 Cr12,079 Cr13,773 Cr20,476 Cr
Fixed assets (net)978 Cr1,122 Cr1,194 Cr1,272 Cr1,420 Cr1,860 Cr1,652 Cr2,047 Cr2,241 Cr2,791 Cr3,505 Cr
CWIP138 Cr165 Cr136 Cr193 Cr241 Cr99 Cr375 Cr251 Cr578 Cr708 Cr1,139 Cr
Investments0.09 Cr33 Cr32 Cr29 Cr65 Cr635 Cr773 Cr1,350 Cr1,899 Cr1,828 Cr3,493 Cr
Loans & advances———18 Cr24 Cr17 Cr13 Cr10 Cr11 Cr11 Cr11 Cr
Inventories980 Cr1,520 Cr1,366 Cr1,996 Cr1,925 Cr1,988 Cr2,200 Cr2,951 Cr3,675 Cr3,661 Cr5,560 Cr
Trade receivables1,353 Cr1,199 Cr1,286 Cr1,334 Cr1,434 Cr1,436 Cr1,296 Cr1,247 Cr2,047 Cr2,596 Cr3,759 Cr
Cash & bank32 Cr23 Cr8 Cr179 Cr172 Cr238 Cr122 Cr153 Cr307 Cr217 Cr390 Cr
Other assets393 Cr516 Cr421 Cr607 Cr679 Cr742 Cr981 Cr1,417 Cr1,321 Cr1,959 Cr2,619 Cr
Total assets3,875 Cr4,579 Cr4,443 Cr5,628 Cr5,962 Cr7,015 Cr7,412 Cr9,425 Cr12,079 Cr13,773 Cr20,476 Cr

Cash flows

Annual · ₹ Cr · tap + rows to expand · last column includes FCF

MetricMar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from operating activity221 Cr296 Cr363 Cr1,230 Cr245 Cr1,238 Cr512 Cr1,428 Cr1,296 Cr1,809 Cr3,811 Cr
Cash from investing-254 Cr-290 Cr-188 Cr-408 Cr-262 Cr-1,012 Cr-427 Cr-1,203 Cr-752 Cr-1,239 Cr-2,850 Cr
Cash from financing45 Cr-10 Cr-190 Cr-651 Cr11 Cr-161 Cr-201 Cr-227 Cr-387 Cr-628 Cr-799 Cr
Net cash flow12 Cr-3 Cr-15 Cr171 Cr-7 Cr66 Cr-116 Cr-2 Cr157 Cr-59 Cr162 Cr
Free cash flow (OCF − Capex)-26 Cr18 Cr180 Cr944 Cr-45 Cr1,045 Cr-15 Cr948 Cr438 Cr839 Cr2,330 Cr

Ratios

MetricMar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %16.0%15.2%21.8%28.6%26.7%22.5%22.1%25.9%29.6%28.7%31.5%
ROE %10.3%11.7%15.7%17.5%19.7%18.6%16.5%19.0%21.6%20.4%22.0%
Debtor days8672686159593932414247
Inventory days101133104133120125871101068698
Days payable1081197010184854876833432
Cash conversion cycle798710193959978666595114
OCF / EBITDA %45.0%61.8%49.0%133.2%21.6%106.1%40.4%77.1%52.0%61.1%95.1%
OCF / EBITDA % (3 years)——51.4%88.1%65.7%84.1%55.9%74.2%57.7%62.1%73.1%
Debt / equity0.450.410.310.070.030.040.010.020.010.010.01
Current ratio1.361.341.581.502.022.372.952.632.442.651.84
Net debt / EBITDA1.561.660.970.01-0.04-0.04-0.030.0013-0.09-0.04-0.06