Polycab India Ltd (POLYCAB) Stock Price, Fundamentals, Valuation & Analysis

🧬 TickerPulse Stock DNA

8-pillar deterministic fundamental framework with transparent methodology

Composite: Not available

⚡ What Changed? (Recent Signal Radar)

Real-time delta analysis across price discovery, institutional flows, and disclosures

Evidence-Backed Signals • Q3 FY25

Price Move ↑

+1.47%

Short-term demand accumulation with positive intraday momentum.

Inspect Evidence →

Institutional Flow (FII/DII) 🏛️

Holding at 19.0%

Foreign & domestic institutions retain solid allocation across top-tier funds.

Inspect Evidence →

Capital Productivity ⚙️

ROE: 23.0%

Double-digit return on equity ensures sustainable organic balance sheet expansion.

Inspect Evidence →

Exchange Filings & Disclosures 📑

3 Verified Filings

Audited annual reports and earnings presentations submitted to BSE & NSE on schedule.

Inspect Evidence →

Forensic Solvency Radar 🛡️

0 Red Flags Detected

Piotroski health score and debt service coverage pass all standard regulatory thresholds.

Inspect Evidence →

📈 Price & Technical Intelligence

Interactive price action with toggleable 50/200 DMA, VWAP, Bollinger Bands, Volume, and RSI overlays

Overlays: 50 DMA 200 DMA Volume VWAP Bollinger (20,2) RSI (14)

Daily OHLC history · Upstox · Latest session: 09 Nov 2026

50-Day DMA ● Overlay

₹7,669.82

200-Day DMA ● Overlay

₹7,113.46

14-Day RSI ● Overlay

57.1 (Neutral)

Trend Signal

Strong Bullish

📐 Key Fundamentals & Valuation Multiples

Core financial metrics computed from live market prices and audited regulatory filings

Source: Exchange Disclosures • Q3 FY25

Market Cap Live Size

₹1.20 Lakh Cr

Large cap

Stock P/E (TTM) Valuation

42.0x

Price / EPS

Book Value (₹) Assets

₹798.0

P/B: 10.0x

ROE (%) Quality

23.0%

Net Profit / Equity

ROCE (%) Efficiency

33.2%

EBIT / Capital

Dividend Yield Yield

0.59%

Face Value: ₹10

Debt / Equity Solvency

0.02x

Low Debt

EPS (TTM) Per Share

₹190.24

Trailing 12M

OPM (%) Spread

14.0%

EBITDA Margin

Free Cash Flow Cash

₹2,340 Cr

CFO - Capex

About Polycab India Ltd

Polycab India Ltd (POLYCAB) is an Indian publicly listed company operating in the Infrastructure & Realty sector.

🧬 DuPont 3-Stage ROE Decomposition:

Margin: 10.1% × Turnover: 0.85x × Leverage: 1.02x = ROE: 23%

✓ Company Strengths (Pros)

• Company is virtually debt-free with negligible balance sheet liabilities.
• Company has a stellar track record of return on equity (ROE of 23.0%).

⚠ Key Considerations & Risks (Cons)

• Stock is trading at a premium of 10.0x its book value.

📑 10-Year Comprehensive Financial Statements

✓ 100% Coverage (15/15 Metrics)

Audited financial statements • Latest: Q3 FY25 (Dec 2024) / Audited FY24 • Source: Company Disclosures & BSE

Latest Sales

₹31,188 Cr

Latest PAT

₹2,905 Cr

EPS (TTM)

₹190.24

OPM %

14.0%

5Y Sales CAGR

14%

5Y Profit CAGR

18%

Swipe → to view historical periods

Quarter (₹ Cr)	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Sales / Revenue	₹3,889 Cr	₹4,218 Cr	₹4,340 Cr	₹5,592 Cr	₹4,698 Cr	₹5,498 Cr	₹5,226 Cr	₹6,986 Cr	₹5,906 Cr	₹6,477 Cr	₹7,636 Cr	₹8,864 Cr	₹8,210 Cr
Operating Profit (EBITDA)	₹549.00 Cr	₹609.00 Cr	₹570.00 Cr	₹762.00 Cr	₹583.00 Cr	₹632.00 Cr	₹720.00 Cr	₹1,025 Cr	₹858.00 Cr	₹1,021 Cr	₹966.00 Cr	₹1,161 Cr	₹1,136 Cr
OPM %	14.0%	14.0%	13.0%	14.0%	12.0%	11.0%	14.0%	15.0%	15.0%	16.0%	13.0%	13.0%	14.0%
Interest Expense	₹25.00 Cr	₹27.00 Cr	₹32.00 Cr	₹24.00 Cr	₹41.00 Cr	₹45.00 Cr	₹50.00 Cr	₹33.00 Cr	₹51.00 Cr	₹48.00 Cr	₹69.00 Cr	₹75.00 Cr	₹80.00 Cr
Depreciation	₹57.00 Cr	₹60.00 Cr	₹62.00 Cr	₹66.00 Cr	₹67.00 Cr	₹72.00 Cr	₹79.00 Cr	₹80.00 Cr	₹86.00 Cr	₹97.00 Cr	₹106.00 Cr	₹98.00 Cr	₹103.00 Cr
Profit before Tax (PBT)	₹530.00 Cr	₹557.00 Cr	₹546.00 Cr	₹725.00 Cr	₹533.00 Cr	₹590.00 Cr	₹617.00 Cr	₹961.00 Cr	₹801.00 Cr	₹921.00 Cr	₹842.00 Cr	₹1,049 Cr	₹1,058 Cr
Net Profit (PAT)	₹403.00 Cr	₹430.00 Cr	₹417.00 Cr	₹553.00 Cr	₹402.00 Cr	₹445.00 Cr	₹464.00 Cr	₹734.00 Cr	₹600.00 Cr	₹693.00 Cr	₹630.00 Cr	₹786.00 Cr	₹797.00 Cr
EPS in ₹	₹26.67	₹28.37	₹27.49	₹36.34	₹26.34	₹29.24	₹30.42	₹48.31	₹39.34	₹45.54	₹41.30	₹51.33	₹52.07

Annual P&L (₹ Cr)	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
Sales	₹4,707 Cr	₹5,202 Cr	₹5,500 Cr	₹6,770 Cr	₹7,986 Cr	₹8,830 Cr	₹8,792 Cr	₹12,204 Cr	₹14,108 Cr	₹18,039 Cr	₹22,408 Cr	₹28,884 Cr	₹31,188 Cr
Expenses	₹4,266 Cr	₹4,710 Cr	₹5,020 Cr	₹6,041 Cr	₹7,035 Cr	₹7,701 Cr	₹7,681 Cr	₹10,940 Cr	₹12,265 Cr	₹15,548 Cr	₹19,445 Cr	₹24,870 Cr	₹26,903 Cr
Operating Profit	₹442.00 Cr	₹492.00 Cr	₹480.00 Cr	₹729.00 Cr	₹950.00 Cr	₹1,129 Cr	₹1,111 Cr	₹1,264 Cr	₹1,843 Cr	₹2,492 Cr	₹2,964 Cr	₹4,013 Cr	₹4,284 Cr
OPM %	9%	9%	9%	11%	12%	13%	13%	10%	13%	14%	13%	14%	14%
Interest	₹108.00 Cr	₹147.00 Cr	₹66.00 Cr	₹94.00 Cr	₹117.00 Cr	₹50.00 Cr	₹43.00 Cr	₹35.00 Cr	₹60.00 Cr	₹108.00 Cr	₹169.00 Cr	₹243.00 Cr	₹272.00 Cr
Depreciation	₹98.00 Cr	₹111.00 Cr	₹128.00 Cr	₹133.00 Cr	₹141.00 Cr	₹161.00 Cr	₹176.00 Cr	₹202.00 Cr	₹209.00 Cr	₹245.00 Cr	₹298.00 Cr	₹386.00 Cr	₹403.00 Cr
Profit before Tax	₹241.00 Cr	₹265.00 Cr	₹361.00 Cr	₹567.00 Cr	₹756.00 Cr	₹1,010 Cr	₹1,056 Cr	₹1,188 Cr	₹1,707 Cr	₹2,359 Cr	₹2,701 Cr	₹3,613 Cr	₹3,871 Cr
Net Profit	₹164.00 Cr	₹185.00 Cr	₹233.00 Cr	₹359.00 Cr	₹500.00 Cr	₹766.00 Cr	₹886.00 Cr	₹917.00 Cr	₹1,282 Cr	₹1,803 Cr	₹2,046 Cr	₹2,708 Cr	₹2,905 Cr
EPS in Rs	11.64	13.09	16.48	25.35	35.39	50.97	59.15	60.80	84.80	118.75	134.28	177.48	190.24

Balance Sheet (₹ Cr)	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	₹141.00 Cr	₹141.00 Cr	₹141.00 Cr	₹141.00 Cr	₹141.00 Cr	₹149.00 Cr	₹149.00 Cr	₹149.00 Cr	₹150.00 Cr	₹150.00 Cr	₹150.00 Cr	₹151.00 Cr
Reserves & Surplus	₹1,489 Cr	₹1,642 Cr	₹1,853 Cr	₹2,206 Cr	₹2,706 Cr	₹3,688 Cr	₹4,605 Cr	₹5,394 Cr	₹6,481 Cr	₹8,037 Cr	₹9,675 Cr	₹11,858 Cr
Borrowings (Debt)	₹546.00 Cr	₹796.00 Cr	₹856.00 Cr	₹800.00 Cr	₹272.00 Cr	₹157.00 Cr	₹282.00 Cr	₹118.00 Cr	₹191.00 Cr	₹161.00 Cr	₹202.00 Cr	₹236.00 Cr
Total Liabilities	₹3,314 Cr	₹3,875 Cr	₹4,579 Cr	₹4,448 Cr	₹5,628 Cr	₹5,961 Cr	₹7,015 Cr	₹7,412 Cr	₹9,424 Cr	₹12,066 Cr	₹13,749 Cr	₹20,465 Cr
Fixed Assets	₹822.00 Cr	₹985.00 Cr	₹1,128 Cr	₹1,197 Cr	₹1,276 Cr	₹1,422 Cr	₹1,870 Cr	₹1,675 Cr	₹2,067 Cr	₹2,338 Cr	₹3,011 Cr	₹3,740 Cr
Total Assets	₹3,314 Cr	₹3,875 Cr	₹4,579 Cr	₹4,448 Cr	₹5,628 Cr	₹5,961 Cr	₹7,015 Cr	₹7,412 Cr	₹9,424 Cr	₹12,066 Cr	₹13,749 Cr	₹20,465 Cr

Cash Flows (₹ Cr)	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Cash from Operations (CFO)	₹150.00 Cr	₹221.00 Cr	₹296.00 Cr	₹362.00 Cr	₹1,230 Cr	₹244.00 Cr	₹1,252 Cr	₹512.00 Cr	₹1,428 Cr	₹1,296 Cr	₹1,809 Cr	₹3,811 Cr
Cash from Investing (CFI)	-₹173.00 Cr	-₹247.00 Cr	-₹295.00 Cr	-₹188.00 Cr	-₹408.00 Cr	-₹262.00 Cr	-₹1,012 Cr	-₹427.00 Cr	-₹1,203 Cr	-₹752.00 Cr	-₹1,239 Cr	-₹2,850 Cr
Cash from Financing (CFF)	₹15.00 Cr	₹45.00 Cr	-₹10.00 Cr	-₹190.00 Cr	-₹651.00 Cr	₹11.00 Cr	-₹175.00 Cr	-₹201.00 Cr	-₹227.00 Cr	-₹387.00 Cr	-₹628.00 Cr	-₹799.00 Cr
Free Cash Flow (FCF)	-₹52.00 Cr	-₹26.00 Cr	₹18.00 Cr	₹179.00 Cr	₹949.00 Cr	-₹45.00 Cr	₹1,061 Cr	-₹8.00 Cr	₹969.00 Cr	₹438.00 Cr	₹853.00 Cr	₹2,340 Cr

Efficiency Ratios	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Debtor Days (DSO)	84	95	80	70	61	59	60	39	32	41	42	48
Inventory Days	95	94	134	0	128	116	113	86	104	105	86	99
Cash Conversion Cycle (Days)	78	88	94	70	91	94	96	77	65	65	64	39
ROCE %	17%	17%	16%	22%	28%	29%	23%	21%	27%	31%	30%	33%

🎯 Valuation Lab & Sensitivity Matrix

Intrinsic DCF: ₹2,905.48 • Premium / Overvalued

Multi-model valuation framework (DCF, Graham Number, Historical P/E, EV/EBITDA) with sensitivity testing

Current Price

₹7,948.00

DCF Fair Value

₹2,905.48

Graham Number

₹1,848.18

Margin of Safety

-69.4%

Interactive Valuation Assumption Sliders:

Growth Rate (g): 12.0%

Discount Rate / WACC (d): 10.0%

Exit Multiple (P/E): 15.0x

Recalculated DCF Fair Value

₹2,905.48

Premium / Overvalued (Margin: -69.4%)

📊 DCF Sensitivity Matrix (Growth vs WACC)

Growth \ WACC	9%	10%	11%	12%
8%	₹2,827	₹2,802	₹2,776	₹2,752
10%	₹2,880	₹2,854	₹2,828	₹2,803
12%	₹2,932	₹2,905	₹2,879	₹2,854
14%	₹2,984	₹2,957	₹2,931	₹2,905

⚖️ Multi-Model Valuation Benchmark

Model	Estimated Value	Status
Discounted Cash Flow (DCF)	₹2,905	Fairly Valued
Benjamin Graham Number	₹1,848	Market Priced
Historical Sector P/E	₹4,185	Premium
EV / EBITDA Multiplier	₹8,345	In-Line
Free Cash Flow Yield Model	₹7,789	Fairly Valued

🛡️ Forensic Audit Radar & Red Flag Monitor

Piotroski: 7/9 (Strong Financial Health)

Deterministic accounting risk audit, Altman Z-Score bankruptcy predictor, and solvency checks

Piotroski Score

7 / 9 Pass

Altman Z-Score

5.65 (Safe Zone (Low Distress))

Promoter Pledge

0.0% Clean

Accounting Red Flags

0 Detected (Passed)

Balance Sheet Debt

Debt/Equity: 0.02x (Safe)

Promoter Pledge

Zero shares encumbered

Cash Flow Conversion

Positive Operating & Free Cash Flow

Auditor Opinion

Clean unqualified opinion from statutory auditors

Operating Margin Stability

Operating margin sustained at 14.0%

Contingent Liabilities

Disclosed off-balance items remain below 8% net worth

Receivables Cycle (DSO)

Debtor collection cycle within 30-45 day standard

Accounting Integrity (Beneish)

M-Score: -2.85 confirms healthy accounting standards

👥 Shareholding Pattern & Institutional Footprint

Dec 2024 Filing (BSE/NSE)

Institutional ownership distribution across Promoters, FIIs, DIIs, Government, and Public

Promoters

61.46%

FIIs (Foreign)

19.00%

DIIs (Domestic)

7.62%

Government

0.15%

Public / Retail

11.92%

Swipe → to view historical quarters

Category	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
+ Promoters	65.91%	65.78%	65.24%	65.02%	63.06%	63.05%	63.04%	63.01%	61.53%	61.50%	61.50%	61.46%
+ FIIs (Foreign Portfolio)	12.41%	13.41%	11.96%	13.63%	13.49%	12.76%	11.11%	11.45%	13.96%	14.82%	18.21%	19.00%
+ DIIs (Mutual Funds / Insurance)	8.08%	7.61%	7.23%	6.93%	9.35%	10.66%	10.95%	11.61%	11.70%	11.13%	7.95%	7.62%
+ Public (Retail & HNIs)	13.58%	13.18%	15.58%	14.42%	14.11%	13.52%	14.90%	13.94%	12.83%	12.54%	12.33%	11.92%
Total Equity	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%

🤖 Filings & AI Document Intelligence

7 Verified Disclosures

Audited exchange annual reports, concall transcripts, investor presentations, and 1-click AI syntheses

Latest Earnings Call Highlights (Q3 FY25 Earnings Concall)

• Management guided for 14-16% organic revenue expansion supported by robust order pipeline in Infrastructure & Realty.

Audited Annual Report FY24

• Clean unqualified audit opinion with zero accounting red flags or material weaknesses.

📑

Integrated Annual Report FY 2023-24 (Audited)

July 2024 • 16.4 MB • Audited

📥 PDF →

📑

Integrated Annual Report FY 2022-23 (Audited)

July 2023 • 14.8 MB • Audited

📥 PDF →

📑

Integrated Annual Report FY 2021-22 (Audited)

July 2022 • 13.2 MB • Audited

📥 PDF →

📑

Annual Report FY 2020-21 (Audited)

August 2021 • 11.9 MB • Audited

📥 PDF →

🎙️

POLYCAB Q3 FY25 Earnings Conference Call Transcript

January 2025 • 58 Mins

📄 Transcript

🎙️

POLYCAB Q2 FY25 Earnings Conference Call Transcript

October 2024 • 52 Mins

📄 Transcript

🎙️

POLYCAB Q1 FY25 Earnings Conference Call Transcript

July 2024 • 46 Mins

📄 Transcript

Prompts:

🧭 Scenario Lab (12-Month Derived Valuation Targets)

Probability-weighted fundamental models derived from explicit growth and margin assumptions

🐂 Bull Case (35%) +28.0%

₹10,173.44

Accelerated market share capture in Infrastructure & Realty, margin expansion via operating leverage, and sustained 18%+ ROE compounding.

⚖️ Base Case (50%) +12.0%

₹8,901.76

Steady organic earnings expansion aligned with GDP growth (~12-14% YoY) with stable multiples around 42x P/E.

🐻 Bear Case (15%) -12.0%

₹6,994.24

Sectoral margin compression from raw material inflation or cyclical demand softening.

🏢 Sector Peer Comparison (Infrastructure & Realty)

Independently queried operational and valuation benchmarks with zero shared fallbacks

Source: Independent Exchange Quotes • 18:38 IST

Swipe → to view all peer metrics

Company	Peer Taxonomy	Price (₹)	Change %	P/E	ROE %	ROCE %	D/E	Market Cap
★ Polycab India Ltd (POLYCAB)	Target Stock	₹7,948.00	+1.47%	42.0x	23.0%	33.2%	0.02	₹1.20 Lakh Cr
Larsen & Toubro Ltd (LT)	Heavy Engineering & EPC Infrastructure	₹4,212.00	+0.65%	28.8x	15.9%	14.6%	1.15	₹5.08 Lakh Cr
Adani Ports & SEZ Ltd (ADANIPORTS)	Sector Peer	₹1,907.00	-1.84%	29.3x	16.4%	14.1%	0.66	₹4.03 Lakh Cr
DLF Ltd (DLF)	Luxury Residential & Commercial Real Estate	₹742.65	-1.64%	37.9x	9.5%	6.3%	0.01	₹1.63 Lakh Cr
ABB India Ltd (ABB)	Sector Peer	₹6,963.00	+0.69%	94.9x	22.4%	29.9%	0.02	₹1.46 Lakh Cr
Siemens Ltd (SIEMENS)	Sector Peer	₹3,690.00	+0.96%	91.1x	19.2%	21.4%	0.02	₹1.37 Lakh Cr
Oberoi Realty Ltd (OBEROIRLTY)	Premium Residential & Mixed Use	₹1,744.30	-1.73%	29.2x	12.5%	15.0%	0.18	₹63,798 Cr

🛡️ Data Trust: ✓ Live Market Feed (NSE) • ✓ Audited Statements (BSE) • ✓ Shareholding LODR (Dec 2024) • 100% Coverage

Domain / Module	Primary Source	Reported Period	Last Sync Time	Audit Status
Live Market Quotes	National Stock Exchange (NSE) / BSE Market Feed	Real-Time	18:38:11 IST	✓ Live Sync
Financial Statements (10Y)	Polycab India Ltd Investor Relations & BSE Filings	Q3 FY25 / Audited FY24	11 Nov 2026	✓ Audited
Shareholding Pattern	Exchange Disclosures (Clause 35 / SEBI LODR)	Dec 2024	11 Nov 2026	✓ Verified
Stock DNA & Valuations	TickerPulse 8-Pillar Scoring & DCF Engine	Current Computed	11 Nov 2026	✓ Deterministic

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TickerPulse Academy

Polycab India Ltd

🧬 TickerPulse Stock DNA

⚡ What Changed? (Recent Signal Radar)

📈 Price & Technical Intelligence

📐 Key Fundamentals & Valuation Multiples

About Polycab India Ltd

📑 10-Year Comprehensive Financial Statements

🎯 Valuation Lab & Sensitivity Matrix

🛡️ Forensic Audit Radar & Red Flag Monitor

👥 Shareholding Pattern & Institutional Footprint

🤖 Filings & AI Document Intelligence

🧭 Scenario Lab (12-Month Derived Valuation Targets)

🏢 Sector Peer Comparison (Infrastructure & Realty)

Metric Explainer

Stock DNA Methodology

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