StrengthTalking point
Book value compounding
Net worth compounded at 22.9% a year over 7 years (₹2,855 → ₹12,127).
Importance 60 / 95 · financial health
Polycab India Limited · Research view
Polycab India Limited
NSE: POLYCABBSE: 542652ISIN INE455K01017Face value ₹10consolidated
₹7,985
−0.68% · 2026-10-01 · 52-wk ₹6,722–₹10,083
Financials to FY2026 · 8 years of history · prices to 2026-10-01consolidatedstandalone
Section 02 · Synthesis
What stands out?
The strongest observations the engine found, ranked. Every line is generated from the filed numbers by a fixed rule — no opinion, no estimate.
StrengthConcernWatchContext
StrengthTalking point
Compounding revenue
Revenue compounded at 20.2% a year over 7 years (₹7,956 → ₹28,884).
Importance 58 / 95 · growth
Strength
Consistently free-cash-flow positive
Free cash flow has been positive in 5 of the last 6 years.
Importance 44 / 95 · cash quality
Section 03 · The company
Who is this company?
Classified by the exchange under Industrials › Capital Goods › Industrial Products › Cables - Electricals.
- Market cap
- ₹1.20 L cr
- FY2026 revenue
- ₹28,884 cr
- FY2026 net profit
- ₹2,708 cr
- Net worth
- ₹12,127 cr
- Total debt
- ₹132 cr
- EPS (basic)
- ₹177.53
- Listed
- NSE · BSE
- Reporting
- Ind-ASApr–Mar
Peer set used on this page: 2 cables - electricals.
Section 04 · Business performance
Is the business growing?
RevenueNet profit
Strength
Revenue compounded at 20.2% a year over 7 years (₹7,956 → ₹28,884).
Rule REVENUE_CAGR_STRONG
- Revenue growth per year
- +20.2%over 7 years
- Revenue growth
- +28.9%vs last year
- Net profit growth
- +32.4%vs last year
- Change in net profit since FY19
- +441%
Over 7 years profit compounded at 27.3% a year while revenue compounded at 20.2% a year — though FY2020 saw a one-off step-change of 53% (a merger, restructuring or a recovery off a low base), so the compounding is uneven.
Net profit grew 32.4% year on year (FY2025 → FY2026).
Revenue grew 28.9% year on year (FY2025 → FY2026).
Section 05 · Recent activity
What changed recently?
Quarterly results, the trailing-twelve-months snapshot, and verified corporate actions — kept separate from each other and from the annual story above. Every figure traces to a filed number; nothing here is external news or commentary.
Strength
Q1 FY27 revenue was ₹8,210 cr, up 39.0% from ₹5,906 cr in Q1 FY26 a year earlier.
Rule QTR_REVENUE_GROWTH_YOY
Strength
Q1 FY27 net profit was ₹797 cr, up 32.8% from ₹600 cr a year earlier.
Rule QTR_PROFIT_GROWTH_YOY
Strength
Q1 FY27 EBIT was ₹1,138 cr, up 33.6% from ₹852 cr a year earlier.
Rule QTR_OPERATING_PERFORMANCE_CHANGE_YOY
A. Quarterly results
RevenueNet profit
| Quarter | Revenue | YoY | Net profit | YoY | Net margin |
|---|---|---|---|---|---|
| Q2 FY25 | 5,498 | — | 445 | — | 8.1% |
| Q3 FY25 | 5,226 | +20.4% | 464 | +11.5% | 8.9% |
| Q4 FY25 | 6,986 | +24.9% | 734 | +32.7% | 10.5% |
| Q1 FY26 | 5,906 | +25.7% | 600 | +49.3% | 10.2% |
| Q2 FY26 | 6,477 | +17.8% | 693 | +55.6% | 10.7% |
| Q3 FY26 | 7,636 | +46.1% | 630 | +35.7% | 8.3% |
| Q4 FY26 | 8,864 | +26.9% | 786 | +7.0% | 8.9% |
| Q1 FY27 | 8,210 | +39.0% | 797 | +32.8% | 9.7% |
B. TTM snapshot
Trailing twelve months to 30 Jun 2026 · sum of the last 4 contiguous quarters
- Revenue
- ₹31,188 crTTM
- EBITDA
- ₹4,546 crTTM
- EBIT
- ₹4,143 crTTM
- PBT
- ₹3,871 crTTM
- Net profit
- ₹2,905 crTTM
C. Corporate actions
19 Jun 2026DividendFinal Dividend - Rs. - 47.0000 — ₹47.00/share
24 Jun 2025DividendFinal Dividend - Rs. - 35.0000 — ₹35.00/share
9 Jul 2024DividendDividend - Rs. - 30.0000 — ₹30.00/share
21 Jun 2023DividendDividend - Rs. - 20.0000 — ₹20.00/share
21 Jun 2022DividendDividend - Rs. - 14.0000 — ₹14.00/share
12 Jul 2021DividendDividend - Rs. - 10.0000 — ₹10.00/share
12 Mar 2020DividendInterim Dividend - Rs. - 7.0000 — ₹7.00/share
18 Jun 2019DividendDividend - Rs. - 3.0000 — ₹3.00/share
Section 06 · Business performance
Is it becoming more profitable?
EBITDA marginNet margin
Strength
ROE improved from 22.5% to 24.6% year on year.
Rule ROE_IMPROVED_YOY
- EBITDA margin now
- 14.7%
- 8-year range
- 11.1–15.0%
- ROE FY2026
- 24.6%
- ROCE FY2026
- 34.6%
Section 07 · Financial health
Is financial health improving?
Net worth (shareholders' funds)
Strength
Net worth compounded at 22.9% a year over 7 years (₹2,855 → ₹12,127).
Rule NET_WORTH_COMPOUNDING
Operating cash flowNet profit
- Total debt
- ₹132 cr
- Operating cash flow ÷ net profit
- 1.41×FY2026
- Free cash flow
- ₹2,340 cr
- Current ratio
- 1.84×
Free cash flow has been positive in 5 of the last 6 years.
Section 08 · Relative position
How does it compare with peers?
Ranked against 2 cables - electricals (FY2026, consolidated). No peer-relative rule fired for this company.
Not enough peers in this set report the underlying metrics yet for a ranking.
- P / E
- 41.4×TTM to Jun 26
- P / B
- 9.9×latest book
- P / S
- 3.9×TTM sales
- Earnings yield
- 2.4%TTM to Jun 26
On the trailing twelve months. Last full year: P/E 44.4× · P/S 4.1× · ROE 24.6%.
Section 09 · The stock
How has the stock performed?
Context
Over 5 years profit (25.0% a year) and the stock (27.8% a year) compounded at roughly the same rate.
Rule STOCK_TRACKED_EARNINGS
- 1-year return
- +8.6%
- 3-year return
- +49.4%
- 5-year return
- +240.3%
- From 52-wk high
- −20.8%
Section 10 · Technical data
What does the technical data say?
Price-action indicators as of 2026-10-01. Secondary to the fundamentals above — included for timing context, not as a signal.
- vs 50-day avg
- Below₹8,786
- vs 200-day avg
- Below₹8,383
- RSI (14)
- 29.7oversold
- MACD histogram
- -6.2
- From 52-wk high
- −20.8%
- From 52-wk low
- +18.8%
- 30-day volatility
- 29.6%ann.
- 6-month return
- +16.7%
Section 11 · Open questions
What should I investigate further?
Observations the engine tagged watch or deteriorating — prompts for your own research, not conclusions.
Nothing is flagged for review for this company.
- Cash-flow-statement facts are unavailable for FY2019, FY2020 — those filings predate SEBI's Cash Flow Statement disclosure requirement. All other loaded years carry full P&L, balance sheet and cash-flow data.
Section 12 · Reference
The numbers
The full statements, kept deliberately secondary. Every figure traces to a BSE Integrated Filing (inline XBRL); ratios are recomputed from the normalised facts.
| Metric | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 7,956 | 8,830 | 8,927 | 12,204 | 14,108 | 18,039 | 22,408 | 28,884 |
| Total income | 8,049 | 8,923 | 9,055 | 12,294 | 14,241 | 18,260 | 22,616 | 29,120 |
| EBITDA | 1,017 | 1,228 | 1,295 | 1,355 | 1,985 | 2,713 | 3,168 | 4,242 |
| Profit before tax | 758 | 1,017 | 1,065 | 1,118 | 1,717 | 2,359 | 2,701 | 3,613 |
| Net profit | 500 | 766 | 886 | 917 | 1,282 | 1,803 | 2,046 | 2,708 |
| EPS (₹) | 35.4 | 51.2 | 59.2 | 60.9 | 84.9 | 118.9 | 134.3 | 177.5 |
| Net worth | 2,855 | 3,851 | 4,773 | 5,569 | 6,669 | 8,243 | 9,907 | 12,127 |
| Total debt | 192 | 122 | 193 | 83 | 155 | 90 | 109 | 132 |
| Operating cash flow | — | — | 1,238 | 512 | 1,428 | 1,296 | 1,809 | 3,811 |
| Free cash flow | — | — | 1,051 | −8 | 971 | 444 | 853 | 2,340 |
| Ratio | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|---|---|
| Growth | ||||||||
| Revenue growth YoY | — | 11.0 | 1.1 | 36.7 | 15.6 | 27.9 | 24.2 | 28.9 |
| Profit growth YoY | — | 53.0 | 15.7 | 3.5 | 39.8 | 40.6 | 13.5 | 32.4 |
| Profitability | ||||||||
| EBITDA margin % | 12.8 | 13.9 | 14.5 | 11.1 | 14.1 | 15.0 | 14.1 | 14.7 |
| Net margin % | 6.2 | 8.6 | 9.8 | 7.5 | 9.0 | 9.9 | 9.0 | 9.3 |
| Return on equity % | 17.5 | 22.8 | 20.5 | 17.7 | 21.0 | 24.2 | 22.5 | 24.6 |
| Return on capital % | 28.7 | 30.4 | 24.8 | 21.7 | 28.5 | 32.6 | 31.3 | 34.6 |
| Leverage & cash | ||||||||
| Debt to equity | 0.07 | 0.03 | 0.04 | 0.01 | 0.02 | 0.01 | 0.01 | 0.01 |
| Cash flow ÷ profit | — | — | 1.40 | 0.56 | 1.11 | 0.72 | 0.88 | 1.41 |
| Current ratio | 1.50 | 2.02 | 2.37 | 2.95 | 2.63 | 2.44 | 2.65 | 1.84 |