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Polycab India, a leading manufacturer of wires, cables, and FMEG products under the ‘POLYCAB’ brand, attracts investor attention due to its strong market presence. Tracking the Polycab share price, balance sheet, annual reports, and quarterly results is crucial for effective Polycab India fundamental analysis, helping investors assess growth potential and market sentiment.
Polycab Share Price Chart
Polycab India Overview
| Company Essentials | Value | Company Essentials | Value |
|---|---|---|---|
|
Market Cap |
₹ 107,804 Cr. |
Face Value |
₹ 10 |
|
52 Week High |
₹ 7,605.00 |
52 Week Low |
₹ 4,555.00 |
|
Industry P/E |
47.42 |
Stock P/E |
48.27 |
|
Div. Yield |
0.49% |
EPS (TTM) |
147.23 |
Polycab India Returns In Last 5 Years
Polycab India return has consistently provided impressive wealth creation for investors. As per Polycab share price history, the company has given a 1-year return of 4.69%, 2-year return of 39.52%, 3-year return of a massive 195.08%, and an outstanding 5-year return of 689.39%.
With such strong Polycab share performance, investors closely track the Polycab share price today by referring to the Polycab share price chart above to evaluate its future growth potential.
Conducting a detailed Polycab India Fundamental Analysis helps investors understand whether these returns are sustainable in the long run.
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Polycab Share Peer Comparison
In the below table, we will see the Polycab Peer Comparison to understand how Polycab India performs against its key competitors in the electrical and cables industry. When analyzing Polycab company competitors like KEI Industries, RR Kabel, Finolex Cables, and others, Polycab stands out with the highest market capitalization of ₹1,06,798.49 crore and impressive quarterly sales of ₹5,905.98 crore. A detailed Polycab India Fundamental Analysis further highlights its superior profitability and strong balance sheet compared to peers.
| Name | CMP Rs. | P/E | Mar Cap Rs.Cr. | Div Yld % | NP Qtr Rs.Cr. | Qtr Profit Var % | Sales Qtr Rs.Cr. | Qtr Sales Var % | ROCE % |
|---|---|---|---|---|---|---|---|---|---|
| Polycab India | 7095.15 | 48.26 | 106798.49 | 0.50 | 599.70 | 49.54 | 5905.98 | 25.71 | 29.72 |
| KEI Industries | 3835.00 | 49.41 | 36644.41 | 0.10 | 195.75 | 30.28 | 2590.32 | 25.44 | 21.29 |
| Advait Energy | 1852.00 | 59.26 | 2004.91 | 0.09 | 8.93 | 53.86 | 118.43 | 98.54 | 28.08 |
| R R Kabel | 1198.20 | 40.21 | 13549.99 | 0.50 | 89.77 | 39.44 | 2058.59 | 13.85 | 19.77 |
| Finolex Cables | 817.45 | 22.33 | 12502.03 | 0.98 | 138.82 | 13.31 | 1395.52 | 13.41 | 16.18 |
| Universal Cables | 715.20 | 21.28 | 2481.40 | 0.57 | 32.91 | 488.73 | 600.19 | 22.81 | 8.58 |
| Dynamic Cables | 427.00 | 28.98 | 2069.14 | 0.06 | 18.21 | 56.98 | 262.04 | 25.65 | 26.37 |
Polycab India Shareholding Pattern
Polycab India shareholding pattern has shown stable promoter holdings with minor fluctuations among institutional and public investors over the last four quarters:
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Polycab India Financial Overview
Polycab Sales Growth: Polycab has delivered strong sales growth in recent years, with revenue rising from ₹14,108 crore in March 2023 to ₹18,039 crore in March 2024. Sales further jumped to ₹22,408 crore in March 2025, and the TTM for March 2026 shows a record ₹23,616 crore. This consistent growth reflects Polycab’s robust fundamentals and expanding demand in the electricals and wires market.
Sales Growth (in Crores)
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Polycab Operating Profit Growth: Polycab has reported consistent operating profit growth, rising from ₹1,843 crore in March 2023 to ₹2,492 crore in March 2024. It further increased to ₹2,964 crore in March 2025, with the TTM for March 2026 reaching ₹3,234 crore. This steady improvement highlights strong operational efficiency and robust business fundamentals.
Operating Profit (in Crores)
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Polycab Net Profit Growth: Polycab has delivered impressive net profit growth over the years. The profit rose from ₹1,283 crore in March 2023 to ₹1,803 crore in March 2024, further increasing to ₹2,046 crore in March 2025. The TTM for March 2026 shows a record ₹2,244 crore, reflecting strong financial performance and sustainable profitability.
Net Profit (in Crores)
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Polycan Key Financial Ratios
Sales Growth & Profit Growth
Polycab India has shown consistent business expansion over the years. In the most recent one-year period, the company achieved a 21% sales growth percentage, reflecting steady short-term revenue growth. Over the last three years, sales have grown by 22%, while the five-year average stands at 20%, indicating sustained long-term performance. On the profitability front, the profit growth percentage was 13% in the last one year, surged to 29% over three years, and averaged 21% over five years, showcasing strong operational efficiency and healthy financial growth.
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ROE Ratio:
Polycab India has maintained strong returns over the years, reflecting efficient capital utilization. The ROE (Return on Equity) stands at 23% for both 1 year and 3 years, slightly easing to 21% over five years, indicating consistent shareholder returns.
ROCE Ratio:
The ROCE (Return on Capital Employed) remains robust at 31% for both 1 year and 3 years, moderating to 28% over five years, showcasing effective deployment of capital and healthy profitability.
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Polycab India Cash Flow Annual (in Cr.)
The below table explains Polycab India’s annual cash flow, showing a steady rise in operating cash flow from ₹1,174.77 crore in March 2021 to ₹1,809.79 crore in March 2025.
However, cash flow from investing activities remained negative, reflecting ongoing investments in growth and expansion. Similarly, cash flow from financing activities stayed negative due to debt repayments and dividend payouts. Despite fluctuations, net cash flow peaked at ₹133.15 crore in March 2024, underscoring Polycab’s focus on long-term value creation.
| Particulars (Consolidated) | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|
| Cash from Operating Activity | 1,174.77 | 460.88 | 1,451.78 | 1,291.74 | 1,809.79 |
| Cash from Investing Activity | -1,037.64 | -359.95 | -1,187.59 | -762.31 | -1,210.47 |
| Cash from Financing Activity | -109.77 | -184.52 | -256.04 | -396.29 | -664.13 |
| Net Cash Flow | 27.37 | -83.59 | 8.15 | 133.15 | -64.82 |
About Polycab India: Evolution Over the Years
Polycab share has risen as a symbol of innovation, dependability, and excellence in the electrical industry. Behind this success stands Thakurdas Jaisinghani, the visionary who laid the foundation for a business that reshaped India’s electrical landscape. It all began in 1964 in Mumbai, the city of dreams with Sind Electric Stores offering a wide range of electrical products, including fans, lights, switches and wires. Thanks to the relentless vision, hard work and dedication of the Jaisinghani family, this humble start has transformed into a publicly traded powerhouse.
As time passed Thakurda’s four sons, Girdhari, Inder, Ajay and Ramesh took over the leadership of the family business. They officially established Thakur Industrie’s under the Indian Partnership Act of 1932, laying the foundation for their journey toward becoming an industry giant.
In 1975, they achieved a milestone by securing a lease agreement with MIDC (Maharashtra Industrial Development Corporation) for land in Mumbai’s bustling Andheri area. Here, they built a factory dedicated to producing cables and wires to meet the growing demand for electrical products.
Then, in 1983, a new era began with the inception of Polycab Industrie’s, founded by Girdhari T. Jaisinghani, Inder T. Jaisinghani, Ajay T. Jaisinghani and Ramesh T. Jaisinghani. This venture aimed to revolutionize the industry by manufacturing PVC insulated wires and cables along with copper and aluminum products, including bare copper wire.
In 1996, ‘Polycab Wires Private Limited’ was established under the Companies Act of 1956, marking a pivotal moment that expanded their reach and cemented their position in the electrical industry. Two years later, in 1998, Polycab Industries Private Limited further solidified its role as a prominent player in the electrical sector. This shift to a private limited entity underscored their commitment to delivering top quality electrical solutions across India.
The company’s growth continued strongly,and in 2018, it reached a major milestone by becoming a publicly traded company. Alongside this transformation came a name change from Polycab Industries to Polycab India Limited.
Business Overview of Polycab Share
Polycab India is a major player in the electrical industry holding a substantial market share of over 24% for wires, cables, and fast-moving electrical goods (FMEG) sold under the POLYCAB brand.
Beyond wires and cables, they also manufacture and sell FMEG products such as electric fans, LED lighting, luminaires, switches, switchgear, solar products and conduits and accessories. Their operational footprint is impressive, featuring 25 manufacturing facilities, a global export presence in 70 countries, a network of 4,300 authorized distributors with continuous expansion, and a vast network of 205,000 retailers connecting them to consumers. Furthermore, they extend their reach globally touching lives in over 40 countries.
Polycab’s Product Mix and Sales Breakdown for FY 2025
In FY 2025, Polycab India’s product mix is led by wires and cables, contributing 84% of total revenue, followed by Engineering, Procurement, and Construction (EPC) at 9%, while the remaining share comes from fast-moving electrical goods (FMEG).
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Final Words
Polycab’s journey from its humble beginnings in 1964 to becoming a significant player in the electrical industry demonstrates its impressive growth and adaptability. The company has exhibited strong financial performance, marked by consistent increases in sales, operating profit, and net profit. Furthermore, its positive cash flow indicates effective financial management and adaptability to market changes.
Looking ahead, Polycab share is poised for further expansion. Their strategic investments aim to capitalize on opportunities, generate greater revenue, and meet the growing demand for their products, both domestically and internationally. Investors who is conducting Polycab India Fundamental Analysis can gain deeper insights into its growth strategies and long-term potential.
Polycab India FAQs
Why polycab is falling today?
Polycab's share price is under selling pressure due to high valuations compared to peers, raising investor concerns and triggering potential declines amid profit booking and cautious market sentiment.
What is the target of POLYCAB in 2025?
Target price of Polycab in 2025 vary by analysts, but most remain positive, with several brokerages projecting significant upside potential based on strong fundamentals and consistent business growth.
Can I buy POLYCAB share now?
You can buy Polycab India Ltd (POLYCAB) shares by opening a Demat account with any registered broker and placing an order through their trading platform.
Is POLYCAB a debt free company?
Yes, Polycab India is almost debt-free, maintaining a healthy balance sheet, which supports strong cash flows and financial stability, making it fundamentally strong compared to many competitors in the electrical and cables industry.
Who is the owner of POLYCAB?
Polycab India is a publicly listed company, with the Jaisinghani family, led by Inder T. Jaisinghani, as the largest shareholders. Inder Jaisinghani is also the Chairman and Managing Director of the company.
Happy investing and thank you for reading!
Disclaimer:
This website content is only for educational purposes, not investment advice. Before making any investment, it’s important to do your own research and be fully informed. Investing in the stock market includes risks, and you should carefully read the Risk Disclosure documents before proceeding. Please remember that past performance doesn’t guarantee future results, and due to market fluctuations, your investment goals may not always be achieved.
