Polycab India Ltd: Intrinsic Value & Share Price Analysis

Share Price and Basic Stock Data

Last Updated: February 16, 2026, 7:15 pm

Market Cap	1,14,888 Cr.
Current Price	7,636
Intrinsic Value	₹6,464.35
High / Low	7,948/4,555
Stock P/E	43.8
Book Value	704
Dividend Yield	0.46 %
ROCE	29.7 %
ROE	21.4 %
Face Value	10.0
PEG Ratio	2.00

Stock P/E, Current Price, and Intrinsic Value Over Time

Stock P/E Current Price Intrinsic Value

View Share Price Target for Polycab India Ltd

Competitors

Stock Name ⇩	Market Cap ⇩	Current Price ⇩	High / Low ⇩	Stock P/E ⇩	Book Value ⇩	Dividend Yield ⇩	ROCE ⇩	ROE ⇩	Face Value ⇩
Motherson Sumi Wiring India Ltd	28,304 Cr.	42.6	53.6/30.7	45.4	2.78	1.33 %	42.5 %	35.9 %	1.00
Hindusthan Urban Infrastructure Ltd	340 Cr.	2,354	2,500/1,651		2,003	0.00 %	6.82 %	11.5 %	10.0
Dynamic Cables Ltd	1,449 Cr.	300	527/228	17.3	84.7	0.08 %	26.4 %	22.1 %	10.0
Cybele Industries Ltd	43.8 Cr.	41.0	42.7/18.2	2.70	55.9	0.00 %	13.2 %	22.1 %	10.0
BC Power Controls Ltd	13.5 Cr.	1.94	4.48/1.57	7.61	6.12	0.00 %	3.90 %	1.92 %	2.00
Industry Average	21,206.00 Cr	1,410.62		30.40	370.81	0.32%	18.06%	16.30%	6.77

All Competitor Stocks of Polycab India Ltd

Quarterly Result

Metric	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025
Sales	3,715	4,324	3,889	4,218	4,340	5,592	4,698	5,498	5,226	6,986	5,906	6,477	7,636
Expenses	3,212	3,721	3,341	3,609	3,771	4,830	4,115	4,867	4,506	5,960	5,048	5,456	6,670
Operating Profit	503	603	549	609	570	762	583	632	720	1,025	858	1,021	966
OPM %	14%	14%	14%	14%	13%	14%	12%	11%	14%	15%	15%	16%	13%
Other Income	40	52	64	35	71	54	58	76	25	48	80	45	50
Interest	9	28	25	27	32	24	41	45	50	33	51	48	69
Depreciation	52	53	57	60	62	66	67	72	79	80	86	97	106
Profit before tax	481	573	530	557	546	725	533	590	617	961	801	921	842
Tax %	25%	25%	24%	23%	24%	24%	25%	25%	25%	24%	25%	25%	25%
Net Profit	361	429	403	430	417	553	402	445	464	734	600	693	630
EPS in Rs	23.89	28.38	26.67	28.37	27.49	36.34	26.34	29.24	30.42	48.31	39.34	45.54	41.30

Last Updated: February 4, 2026, 3:16 pm

Below is a detailed analysis of the quarterly data for Polycab India Ltd based on the most recent figures (Dec 2025) and their trends compared to the previous period:

For Sales, as of Dec 2025, the value is 7,636.00 Cr.. The value appears strong and on an upward trend. It has increased from 6,477.00 Cr. (Sep 2025) to 7,636.00 Cr., marking an increase of 1,159.00 Cr..
For Expenses, as of Dec 2025, the value is 6,670.00 Cr.. The value appears to be increasing, which may not be favorable. It has increased from 5,456.00 Cr. (Sep 2025) to 6,670.00 Cr., marking an increase of 1,214.00 Cr..
For Operating Profit, as of Dec 2025, the value is 966.00 Cr.. The value appears to be declining and may need further review. It has decreased from 1,021.00 Cr. (Sep 2025) to 966.00 Cr., marking a decrease of 55.00 Cr..
For OPM %, as of Dec 2025, the value is 13.00%. The value appears to be declining and may need further review. It has decreased from 16.00% (Sep 2025) to 13.00%, marking a decrease of 3.00%.
For Other Income, as of Dec 2025, the value is 50.00 Cr.. The value appears strong and on an upward trend. It has increased from 45.00 Cr. (Sep 2025) to 50.00 Cr., marking an increase of 5.00 Cr..
For Interest, as of Dec 2025, the value is 69.00 Cr.. The value appears to be increasing, which may not be favorable. It has increased from 48.00 Cr. (Sep 2025) to 69.00 Cr., marking an increase of 21.00 Cr..
For Depreciation, as of Dec 2025, the value is 106.00 Cr.. The value appears to be increasing, which may not be favorable. It has increased from 97.00 Cr. (Sep 2025) to 106.00 Cr., marking an increase of 9.00 Cr..
For Profit before tax, as of Dec 2025, the value is 842.00 Cr.. The value appears to be declining and may need further review. It has decreased from 921.00 Cr. (Sep 2025) to 842.00 Cr., marking a decrease of 79.00 Cr..
For Tax %, as of Dec 2025, the value is 25.00%. The value remains steady. There is no change compared to the previous period (Sep 2025) which recorded 25.00%.
For Net Profit, as of Dec 2025, the value is 630.00 Cr.. The value appears to be declining and may need further review. It has decreased from 693.00 Cr. (Sep 2025) to 630.00 Cr., marking a decrease of 63.00 Cr..
For EPS in Rs, as of Dec 2025, the value is 41.30. The value appears to be declining and may need further review. It has decreased from 45.54 (Sep 2025) to 41.30, marking a decrease of 4.24.

Overall, while many items appear to show a positive trend, any significant downward movement warrant further investigation.

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: December 15, 2025, 4:49 am

Metric	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Sales	3,986	4,707	5,202	5,500	6,770	7,986	8,830	8,792	12,204	14,108	18,039	22,408	24,595
Expenses	3,687	4,266	4,710	5,020	6,041	7,035	7,701	7,681	10,940	12,265	15,548	19,445	20,971
Operating Profit	299	442	492	480	729	950	1,129	1,111	1,264	1,843	2,492	2,964	3,624
OPM %	8%	9%	9%	9%	11%	12%	13%	13%	10%	13%	14%	13%	15%
Other Income	8	5	32	75	65	64	91	164	161	133	221	204	198
Interest	94	108	147	66	94	117	50	43	35	60	108	169	182
Depreciation	71	98	111	128	133	141	161	176	202	209	245	298	341
Profit before tax	142	241	265	361	567	756	1,010	1,056	1,188	1,707	2,359	2,701	3,299
Tax %	37%	32%	30%	36%	37%	34%	24%	16%	23%	25%	24%	24%
Net Profit	89	164	185	233	359	500	766	886	917	1,283	1,803	2,046	2,491
EPS in Rs	12.65	11.64	13.09	16.48	25.35	35.39	50.97	59.15	60.80	84.85	118.75	134.28	163.61
Dividend Payout %	8%	9%	13%	6%	0%	8%	14%	17%	23%	24%	25%	26%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year	2014-2015	2015-2016	2016-2017	2017-2018	2018-2019	2019-2020	2020-2021	2021-2022	2022-2023	2023-2024	2024-2025
YoY Net Profit Growth (%)	84.27%	12.80%	25.95%	54.08%	39.28%	53.20%	15.67%	3.50%	39.91%	40.53%	13.48%
Change in YoY Net Profit Growth (%)	0.00%	-71.46%	13.14%	28.13%	-14.80%	13.92%	-37.53%	-12.17%	36.41%	0.62%	-27.05%

Polycab India Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2014-2015 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:	17%
5 Years:	20%
3 Years:	22%
TTM:	25%

Compounded Profit Growth
10 Years:	28%
5 Years:	21%
3 Years:	29%
TTM:	24%

Stock Price CAGR
10 Years:	%
5 Years:	53%
3 Years:	43%
1 Year:	9%

Return on Equity
10 Years:	20%
5 Years:	21%
3 Years:	22%
Last Year:	21%

Last Updated: September 5, 2025, 12:20 pm

Balance Sheet

Last Updated: December 4, 2025, 1:48 am

Month	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Sep 2025
Equity Capital	71	141	141	141	141	141	149	149	149	150	150	150	151
Reserves	1,412	1,489	1,642	1,853	2,206	2,706	3,688	4,605	5,394	6,487	8,037	9,675	10,443
Borrowings	458	546	796	856	800	272	157	282	118	109	161	202	223
Other Liabilities	823	1,138	1,296	1,729	1,300	2,509	1,967	1,978	1,750	2,678	3,718	3,721	6,354
Total Liabilities	2,763	3,314	3,875	4,579	4,448	5,628	5,961	7,015	7,412	9,424	12,066	13,749	17,171
Fixed Assets	750	822	985	1,128	1,197	1,276	1,422	1,870	1,675	2,067	2,338	3,011	3,398
CWIP	116	179	138	165	136	193	241	99	375	251	578	708	860
Investments	0	0	0	33	32	29	65	635	773	1,350	1,822	1,749	1,697
Other Assets	1,897	2,312	2,752	3,253	3,083	4,130	4,232	4,411	4,588	5,756	7,328	8,280	11,216
Total Assets	2,763	3,314	3,875	4,579	4,448	5,628	5,961	7,015	7,412	9,424	12,066	13,749	17,171

Below is a detailed analysis of the balance sheet data for Polycab India Ltd based on the most recent figures (Sep 2025) and their trends compared to the previous period:

For Equity Capital, as of Sep 2025, the value is 151.00 Cr.. The value appears strong and on an upward trend. It has increased from 150.00 Cr. (Mar 2025) to 151.00 Cr., marking an increase of 1.00 Cr..
For Reserves, as of Sep 2025, the value is 10,443.00 Cr.. The value appears strong and on an upward trend. It has increased from 9,675.00 Cr. (Mar 2025) to 10,443.00 Cr., marking an increase of 768.00 Cr..
For Borrowings, as of Sep 2025, the value is 223.00 Cr.. The value appears to be increasing, which may not be favorable. Additionally, since Reserves exceed Borrowings, this is considered a positive sign. It has increased from 202.00 Cr. (Mar 2025) to 223.00 Cr., marking an increase of 21.00 Cr..
For Other Liabilities, as of Sep 2025, the value is 6,354.00 Cr.. The value appears to be increasing, which may not be favorable. It has increased from 3,721.00 Cr. (Mar 2025) to 6,354.00 Cr., marking an increase of 2,633.00 Cr..
For Total Liabilities, as of Sep 2025, the value is 17,171.00 Cr.. The value appears to be increasing, which may not be favorable. It has increased from 13,749.00 Cr. (Mar 2025) to 17,171.00 Cr., marking an increase of 3,422.00 Cr..
For Fixed Assets, as of Sep 2025, the value is 3,398.00 Cr.. The value appears strong and on an upward trend. It has increased from 3,011.00 Cr. (Mar 2025) to 3,398.00 Cr., marking an increase of 387.00 Cr..
For CWIP, as of Sep 2025, the value is 860.00 Cr.. The value appears strong and on an upward trend. It has increased from 708.00 Cr. (Mar 2025) to 860.00 Cr., marking an increase of 152.00 Cr..
For Investments, as of Sep 2025, the value is 1,697.00 Cr.. The value appears to be declining and may need further review. It has decreased from 1,749.00 Cr. (Mar 2025) to 1,697.00 Cr., marking a decrease of 52.00 Cr..
For Other Assets, as of Sep 2025, the value is 11,216.00 Cr.. The value appears strong and on an upward trend. It has increased from 8,280.00 Cr. (Mar 2025) to 11,216.00 Cr., marking an increase of 2,936.00 Cr..
For Total Assets, as of Sep 2025, the value is 17,171.00 Cr.. The value appears strong and on an upward trend. It has increased from 13,749.00 Cr. (Mar 2025) to 17,171.00 Cr., marking an increase of 3,422.00 Cr..

Notably, the Reserves (10,443.00 Cr.) exceed the Borrowings (223.00 Cr.), indicating a solid financial buffer.

Overall, while many items appear to show a positive trend, any significant downward movement or items where Borrowings exceed Reserves warrant further investigation.

Reserves and Borrowings Chart

Cash Flow

Month	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Cash from Operating Activity +	310	150	221	296	362	1,230	244	1,252	512	1,428	1,296	1,809
Cash from Investing Activity +	-109	-173	-247	-295	-188	-408	-262	-1,012	-427	-1,203	-752	-1,239
Cash from Financing Activity +	-196	15	45	-10	-190	-651	11	-175	-201	-227	-387	-628
Net Cash Flow	4	-8	20	-8	-15	171	-7	66	-116	-2	157	-59

Free Cash Flow

Month	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Free Cash Flow	-159.00	-104.00	-304.00	-376.00	-71.00	678.00	-156.00	-281.00	-117.00	-108.00	-159.00	-200.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

Month	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Debtor Days	88	84	95	80	70	61	59	60	39	32	41	42
Inventory Days	70	95	94	134		128	116	113	86	104	105	86
Days Payable	77	101	101	120		97	82	77	48	72	82	64
Cash Conversion Cycle	81	78	88	94	70	91	94	96	77	65	65	64
Working Capital Days	92	86	94	96	57	45	71	73	67	58	59	54
ROCE %		17%	17%	16%	22%	28%	29%	24%	21%	27%	31%	30%

Financial Efficiency Indicators Chart

Share Holding Pattern

Month	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025
Promoters	66.61%	66.21%	65.99%	65.91%	65.78%	65.24%	65.02%	63.06%	63.05%	63.04%	63.01%	61.53%
FIIs	8.12%	9.78%	9.66%	12.41%	13.41%	11.96%	13.63%	13.49%	12.76%	11.11%	11.45%	13.96%
DIIs	10.10%	9.34%	9.75%	8.08%	7.61%	7.23%	6.93%	9.35%	10.66%	10.95%	11.61%	11.70%
Public	15.16%	14.67%	14.61%	13.58%	13.18%	15.58%	14.42%	14.11%	13.52%	14.90%	13.94%	12.83%
No. of Shareholders	3,24,531	3,14,107	3,09,229	3,17,468	3,37,380	4,23,787	3,85,285	3,84,949	3,74,787	4,27,928	3,98,064	3,70,871

Shareholding Pattern Chart

No. of Shareholders

Polycab India Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

Mutual Fund Holdings

Fund Name	No of Shares	AUM (%)	Amount Invested (Cr)	Previous Number of Shares	Previous Date	Percentage Change
Motilal Oswal Midcap Fund	1,707,037	3.53	1300.59	2,528,264	2026-01-26 00:58:01	-32.48%
Motilal Oswal Flexi Cap Fund	1,188,311	6.53	905.37	1,463,561	2026-01-26 00:58:01	-18.81%
Kotak Midcap Fund	781,062	0.98	595.09	986,481	2025-12-15 00:09:47	-20.82%
ICICI Prudential Balanced Advantage Fund	592,451	0.64	451.39	612,451	2026-01-26 00:58:01	-3.27%
DSP Mid Cap Fund	557,747	2.17	424.95	427,612	2025-12-08 04:32:39	30.43%
UTI Flexi Cap Fund	501,000	1.53	381.71	273,210	2025-12-08 04:32:39	83.38%
UTI Mid Cap Fund	384,500	2.45	292.95	400,000	2026-01-26 00:58:01	-3.88%
HSBC Midcap Fund	347,000	2.13	264.38	304,000	2026-01-26 00:58:01	14.14%
DSP Flexi Cap Fund	275,493	1.7	209.9	349,502	2025-12-08 04:32:39	-21.18%
HSBC Small Cap Fund	272,724	1.3	207.79	N/A	N/A	N/A

ROCE Trend

EPS Trend

Key Financial Ratios

Month	Mar 25	Mar 24	Mar 23	Mar 22	Mar 21
FaceValue	10.00	10.00	10.00	10.00	10.00
Basic EPS (Rs.)	134.34	118.93	84.87	60.87	59.20
Diluted EPS (Rs.)	133.80	118.49	84.61	60.60	58.96
Cash EPS (Rs.)	155.80	136.32	100.20	75.03	71.18
Book Value[Excl.RevalReserv]/Share (Rs.)	653.14	548.63	445.25	372.58	320.03
Book Value[Incl.RevalReserv]/Share (Rs.)	653.14	548.63	445.25	372.58	320.03
Revenue From Operations / Share (Rs.)	1489.66	1200.74	941.99	816.62	589.61
PBDIT / Share (Rs.)	210.59	180.56	132.57	90.68	82.51
PBIT / Share (Rs.)	190.78	164.25	118.60	77.19	70.70
PBT / Share (Rs.)	179.55	157.04	114.61	74.84	67.84
Net Profit / Share (Rs.)	135.98	120.01	86.24	61.55	59.37
NP After MI And SOA / Share (Rs.)	134.28	118.75	84.80	60.80	59.15
PBDIT Margin (%)	14.13	15.03	14.07	11.10	13.99
PBIT Margin (%)	12.80	13.67	12.59	9.45	11.99
PBT Margin (%)	12.05	13.07	12.16	9.16	11.50
Net Profit Margin (%)	9.12	9.99	9.15	7.53	10.06
NP After MI And SOA Margin (%)	9.01	9.88	9.00	7.44	10.03
Return on Networth / Equity (%)	20.55	21.79	19.15	16.39	18.55
Return on Capital Employeed (%)	27.96	29.02	26.12	20.34	21.08
Return On Assets (%)	14.66	14.76	13.47	12.25	12.57
Long Term Debt / Equity (X)	0.00	0.00	0.00	0.00	0.02
Total Debt / Equity (X)	0.01	0.01	0.02	0.01	0.05
Asset Turnover Ratio (%)	1.73	1.68	1.68	1.69	1.38
Current Ratio (X)	2.65	2.44	2.63	2.95	2.37
Quick Ratio (X)	1.61	1.41	1.51	1.69	1.38
Inventory Turnover Ratio (X)	6.11	3.82	3.79	4.44	2.94
Dividend Payout Ratio (NP) (%)	22.33	16.80	16.49	16.41	0.00
Dividend Payout Ratio (CP) (%)	19.45	14.77	14.16	13.43	0.00
Earning Retention Ratio (%)	77.67	83.20	83.51	83.59	0.00
Cash Earning Retention Ratio (%)	80.55	85.23	85.84	86.57	0.00
Interest Coverage Ratio (X)	18.75	25.04	33.23	38.51	28.82
Interest Coverage Ratio (Post Tax) (X)	13.11	17.64	22.61	25.09	20.71
Enterprise Value (Cr.)	76864.71	75857.69	42607.13	35046.60	20316.85
EV / Net Operating Revenue (X)	3.43	4.21	3.02	2.87	2.31
EV / EBITDA (X)	24.26	27.96	21.46	25.86	16.51
MarketCap / Net Operating Revenue (X)	3.46	4.22	3.06	2.90	2.34
Retention Ratios (%)	77.66	83.19	83.50	83.58	0.00
Price / BV (X)	7.88	9.30	6.50	6.38	4.33
Price / Net Operating Revenue (X)	3.46	4.22	3.06	2.90	2.34
EarningsYield	0.02	0.02	0.02	0.02	0.04

After reviewing the key financial ratios for Polycab India Ltd, here is a detailed analysis based on the latest available data and recent trends:

For FaceValue, as of Mar 25, the value is 10.00. This value is within the healthy range. There is no change compared to the previous period (Mar 24) which recorded 10.00.
For Basic EPS (Rs.), as of Mar 25, the value is 134.34. This value is within the healthy range. It has increased from 118.93 (Mar 24) to 134.34, marking an increase of 15.41.
For Diluted EPS (Rs.), as of Mar 25, the value is 133.80. This value is within the healthy range. It has increased from 118.49 (Mar 24) to 133.80, marking an increase of 15.31.
For Cash EPS (Rs.), as of Mar 25, the value is 155.80. This value is within the healthy range. It has increased from 136.32 (Mar 24) to 155.80, marking an increase of 19.48.
For Book Value[Excl.RevalReserv]/Share (Rs.), as of Mar 25, the value is 653.14. It has increased from 548.63 (Mar 24) to 653.14, marking an increase of 104.51.
For Book Value[Incl.RevalReserv]/Share (Rs.), as of Mar 25, the value is 653.14. It has increased from 548.63 (Mar 24) to 653.14, marking an increase of 104.51.
For Revenue From Operations / Share (Rs.), as of Mar 25, the value is 1,489.66. It has increased from 1,200.74 (Mar 24) to 1,489.66, marking an increase of 288.92.
For PBDIT / Share (Rs.), as of Mar 25, the value is 210.59. This value is within the healthy range. It has increased from 180.56 (Mar 24) to 210.59, marking an increase of 30.03.
For PBIT / Share (Rs.), as of Mar 25, the value is 190.78. This value is within the healthy range. It has increased from 164.25 (Mar 24) to 190.78, marking an increase of 26.53.
For PBT / Share (Rs.), as of Mar 25, the value is 179.55. This value is within the healthy range. It has increased from 157.04 (Mar 24) to 179.55, marking an increase of 22.51.
For Net Profit / Share (Rs.), as of Mar 25, the value is 135.98. This value is within the healthy range. It has increased from 120.01 (Mar 24) to 135.98, marking an increase of 15.97.
For NP After MI And SOA / Share (Rs.), as of Mar 25, the value is 134.28. This value is within the healthy range. It has increased from 118.75 (Mar 24) to 134.28, marking an increase of 15.53.
For PBDIT Margin (%), as of Mar 25, the value is 14.13. This value is within the healthy range. It has decreased from 15.03 (Mar 24) to 14.13, marking a decrease of 0.90.
For PBIT Margin (%), as of Mar 25, the value is 12.80. This value is within the healthy range. It has decreased from 13.67 (Mar 24) to 12.80, marking a decrease of 0.87.
For PBT Margin (%), as of Mar 25, the value is 12.05. This value is within the healthy range. It has decreased from 13.07 (Mar 24) to 12.05, marking a decrease of 1.02.
For Net Profit Margin (%), as of Mar 25, the value is 9.12. This value is within the healthy range. It has decreased from 9.99 (Mar 24) to 9.12, marking a decrease of 0.87.
For NP After MI And SOA Margin (%), as of Mar 25, the value is 9.01. This value is within the healthy range. It has decreased from 9.88 (Mar 24) to 9.01, marking a decrease of 0.87.
For Return on Networth / Equity (%), as of Mar 25, the value is 20.55. This value is within the healthy range. It has decreased from 21.79 (Mar 24) to 20.55, marking a decrease of 1.24.
For Return on Capital Employeed (%), as of Mar 25, the value is 27.96. This value is within the healthy range. It has decreased from 29.02 (Mar 24) to 27.96, marking a decrease of 1.06.
For Return On Assets (%), as of Mar 25, the value is 14.66. This value is within the healthy range. It has decreased from 14.76 (Mar 24) to 14.66, marking a decrease of 0.10.
For Long Term Debt / Equity (X), as of Mar 25, the value is 0.00. This value is below the healthy minimum of 0.2. There is no change compared to the previous period (Mar 24) which recorded 0.00.
For Total Debt / Equity (X), as of Mar 25, the value is 0.01. This value is within the healthy range. There is no change compared to the previous period (Mar 24) which recorded 0.01.
For Asset Turnover Ratio (%), as of Mar 25, the value is 1.73. It has increased from 1.68 (Mar 24) to 1.73, marking an increase of 0.05.
For Current Ratio (X), as of Mar 25, the value is 2.65. This value is within the healthy range. It has increased from 2.44 (Mar 24) to 2.65, marking an increase of 0.21.
For Quick Ratio (X), as of Mar 25, the value is 1.61. This value is within the healthy range. It has increased from 1.41 (Mar 24) to 1.61, marking an increase of 0.20.
For Inventory Turnover Ratio (X), as of Mar 25, the value is 6.11. This value is within the healthy range. It has increased from 3.82 (Mar 24) to 6.11, marking an increase of 2.29.
For Dividend Payout Ratio (NP) (%), as of Mar 25, the value is 22.33. This value is within the healthy range. It has increased from 16.80 (Mar 24) to 22.33, marking an increase of 5.53.
For Dividend Payout Ratio (CP) (%), as of Mar 25, the value is 19.45. This value is below the healthy minimum of 20. It has increased from 14.77 (Mar 24) to 19.45, marking an increase of 4.68.
For Earning Retention Ratio (%), as of Mar 25, the value is 77.67. This value exceeds the healthy maximum of 70. It has decreased from 83.20 (Mar 24) to 77.67, marking a decrease of 5.53.
For Cash Earning Retention Ratio (%), as of Mar 25, the value is 80.55. This value exceeds the healthy maximum of 70. It has decreased from 85.23 (Mar 24) to 80.55, marking a decrease of 4.68.
For Interest Coverage Ratio (X), as of Mar 25, the value is 18.75. This value is within the healthy range. It has decreased from 25.04 (Mar 24) to 18.75, marking a decrease of 6.29.
For Interest Coverage Ratio (Post Tax) (X), as of Mar 25, the value is 13.11. This value is within the healthy range. It has decreased from 17.64 (Mar 24) to 13.11, marking a decrease of 4.53.
For Enterprise Value (Cr.), as of Mar 25, the value is 76,864.71. It has increased from 75,857.69 (Mar 24) to 76,864.71, marking an increase of 1,007.02.
For EV / Net Operating Revenue (X), as of Mar 25, the value is 3.43. This value exceeds the healthy maximum of 3. It has decreased from 4.21 (Mar 24) to 3.43, marking a decrease of 0.78.
For EV / EBITDA (X), as of Mar 25, the value is 24.26. This value exceeds the healthy maximum of 15. It has decreased from 27.96 (Mar 24) to 24.26, marking a decrease of 3.70.
For MarketCap / Net Operating Revenue (X), as of Mar 25, the value is 3.46. This value exceeds the healthy maximum of 3. It has decreased from 4.22 (Mar 24) to 3.46, marking a decrease of 0.76.
For Retention Ratios (%), as of Mar 25, the value is 77.66. This value exceeds the healthy maximum of 70. It has decreased from 83.19 (Mar 24) to 77.66, marking a decrease of 5.53.
For Price / BV (X), as of Mar 25, the value is 7.88. This value exceeds the healthy maximum of 3. It has decreased from 9.30 (Mar 24) to 7.88, marking a decrease of 1.42.
For Price / Net Operating Revenue (X), as of Mar 25, the value is 3.46. This value exceeds the healthy maximum of 3. It has decreased from 4.22 (Mar 24) to 3.46, marking a decrease of 0.76.
For EarningsYield, as of Mar 25, the value is 0.02. This value is below the healthy minimum of 5. There is no change compared to the previous period (Mar 24) which recorded 0.02.

Overall, while many metrics show healthy performance, any figures highlighted in red or significant downward trends warrant further investigation.

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value of Polycab India Ltd as of February 17, 2026 is: ₹5,303.27

Calculation basis:

Fair value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100)
P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.

This formula allows us to gauge the fair value of the stock by analyzing its fundamental indicators.

As of February 17, 2026, Polycab India Ltd is Overvalued by 30.55% compared to the current share price ₹7,636.00

Intrinsic Value of Polycab India Ltd as of February 17, 2026 is: ₹6,464.35

Calculation basis:

Intrinsic value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100) * (1 + EPS CAGR for Last 5 Years)
P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.
EPS CAGR (Compound Annual Growth Rate): Represents the geometric mean growth rate of earnings per share over the last 5 years. It provides insight into the historical growth trajectory of the company's earnings.

This formula allows us to gauge the intrinsic value of the stock by analyzing its fundamental indicators along with EPS growth.

As of February 17, 2026, Polycab India Ltd is Overvalued by 15.34% compared to the current share price ₹7,636.00

Last 5 Year EPS CAGR: 21.89%

*Investments are subject to market risks

Strength and Weakness

Strength	Weakness
The stock has a high average ROCE of 21.83%, which is a positive sign. The company has higher reserves (4,587.46 cr) compared to borrowings (383.08 cr), indicating strong financial stability. The company has shown consistent growth in sales (10.46 cr) and profit (180.23 cr) over the years.	The stock has a high average Working Capital Days of 71.00, which may not be favorable. The stock has a high average Cash Conversion Cycle of 80.25, which may not be favorable.

Stock Analysis

Considering all of the following key financial indicators, prospective investors are encouraged to conduct thorough research and seek professional guidance before considering any investment in Polycab India Ltd:
1. Net Profit Margin: 9.12%
  - Net Profit Margin: This metric indicates the percentage of profit a company makes from its total revenue. A higher net profit margin is generally desirable as it reflects better profitability.
2. ROCE: 27.96% (Industry Average ROCE: 18.06%)
  - ROCE (Return on Capital Employed): ROCE measures a company's profitability and the efficiency with which its capital is employed. A higher ROCE indicates efficient use of capital.
3. ROE%: 20.55% (Industry Average ROE: 16.3%)
  - ROE (Return on Equity): ROE measures a company's profitability relative to shareholders' equity. A higher ROE indicates efficient use of shareholders' funds.
4. Interest Coverage Ratio (Post Tax): 13.11
  - Interest Coverage Ratio: The interest coverage ratio measures a company's ability to cover its interest payments on outstanding debt. A ratio greater than 2 is generally considered healthy as it indicates the company can meet its interest obligations comfortably.
5. Quick Ratio: 1.61
  - Quick Ratio: The quick ratio assesses a company's ability to cover its short-term liabilities with its most liquid assets. A ratio higher than 1 suggests the company can meet its short-term obligations without relying heavily on inventory.
6. Stock P/E: 43.8 (Industry average Stock P/E: 30.4)
  - Stock P/E (Price-to-Earnings) Ratio: The P/E ratio compares a company's current share price to its earnings per share. A lower P/E ratio relative to industry peers or historical values may indicate that the stock is undervalued.
7. Total Debt / Equity: 0.01
  - Total Debt / Equity: This ratio measures a company's financial leverage by comparing its total debt to its total equity. A lower ratio indicates lower financial risk and greater financial stability.
The current analysis is available for review. It's important to conduct thorough research and consider consulting with financial professionals before making any investment decisions.
Stock Rating:

About the Company - Qualitative Analysis

Polycab India Ltd. is a Public Limited Listed company incorporated on 01/01/1996 and has its registered office in the State of Gujarat, India. Company's Corporate Identification Number(CIN) is L31300GJ1996PLC114183 and registration number is 266483. Currently Company is involved in the business activities of Manufacture of other electronic and electric wires and cables. Company's Total Operating Revenue is Rs. 21913.95 Cr. and Equity Capital is Rs. 150.43 Cr. for the Year ended 31/03/2025.

INDUSTRY	ADDRESS	CONTACT
Cables - Power/Others	Unit No.4, Plot No.105, Halol Vadodara Road, Panchmahal Gujarat 389350	Contact not found

Management
Name	Position Held
Mr. Inder T Jaisinghani	Chairman & Managing Director
Mr. Bharat A Jaisinghani	Executive Director
Mr. Nikhil R Jaisinghani	Executive Director
Mr. Gandharv Tongia	Executive Director & CFO
Mr. R S Sharma	Independent Director
Mr. T P Ostwal	Independent Director
Mrs. Sutapa Banerjee	Independent Director
Mr. Bhaskar Sharma	Independent Director
Mrs. Manju Agarwal	Independent Director
Mr. Vijay Pratap Pandey	Executive Director
Mr. Sumit Malhotra	Independent Director

FAQ

What is the intrinsic value of Polycab India Ltd?

Polycab India Ltd's intrinsic value (as of 16 February 2026) is ₹6464.35 which is 15.34% lower the current market price of ₹7,636.00, indicating overvalued. Calculated using the PE ratio method, this valuation considers the company's ₹1,14,888 Cr. market cap, FY2025-2026 high/low of ₹7,948/4,555, reserves of ₹10,443 Cr, and liabilities of ₹17,171 Cr.

What is the Market Cap of Polycab India Ltd?

The Market Cap of Polycab India Ltd is 1,14,888 Cr..

What is the current Stock Price of Polycab India Ltd as on 16 February 2026?

The current stock price of Polycab India Ltd as on 16 February 2026 is ₹7,636.

What is the High / Low of Polycab India Ltd stocks in FY 2025-2026?

In FY 2025-2026, the High / Low of Polycab India Ltd stocks is ₹7,948/4,555.

What is the Stock P/E of Polycab India Ltd?

The Stock P/E of Polycab India Ltd is 43.8.

What is the Book Value of Polycab India Ltd?

The Book Value of Polycab India Ltd is 704.

What is the Dividend Yield of Polycab India Ltd?

The Dividend Yield of Polycab India Ltd is 0.46 %.

What is the ROCE of Polycab India Ltd?

The ROCE of Polycab India Ltd is 29.7 %.

What is the ROE of Polycab India Ltd?

The ROE of Polycab India Ltd is 21.4 %.

What is the Face Value of Polycab India Ltd?

The Face Value of Polycab India Ltd is 10.0.