Polycab, a prominent player in the Indian market, stands as a premier manufacturer of cables, wires, and associated products such as uPVC conduits, lugs, and glands. Renowned for its comprehensive range, Polycab offers solutions catering to diverse applications. Beyond its core expertise in cables, the company has ventured into the realm of consumer electrical products, unveiling an extensive portfolio that includes fans, switches, switchgear, LED lights, luminaries, solar inverters, and pumps.
In this article, we delve into a comprehensive exploration of Polycab, shedding light on its diverse product offerings and its impactful presence in the electrical solutions industry.
About Polycab India
Polycab’s business is strategically diversified across three key segments. In the Wires and Cables (W&C) domain, the company boasts a comprehensive portfolio serving both retail and industrial sectors, with a notable market share of 22-24% in the domestically organized W&C business. The Fast Moving Electrical Goods (FMEG) segment, initiated in FY14, has witnessed remarkable growth, offering a diverse product mix catering to a broad customer spectrum.
Additionally, the company engages in other ventures, primarily focused on the EPC business. The product mix in FY23 reflects a substantial emphasis on Wires & Cables at 89%, FMEG at 9%, and other ventures at 2%. Geographically, the company’s presence is well-distributed across North, East, West, and South zones, ensuring a balanced regional split.
Below are the trading platforms that you can use to purchase Polycab shares:
➤ Zerodha
➤ Upstox
➤ Groww
➤ AngelOne
➤ ICICIDirect
| When | Maximum Price | Minimum Price |
| June 2024 | 7,841.88 | 6,819.03 |
| July 2024 | 7,763.46 | 6,750.84 |
| August 2024 | 8,074.00 | 7,020.87 |
| September 2024 | 8,396.96 | 7,301.70 |
| October 2024 | 8,232.31 | 7,158.53 |
| November 2024 | 8,479.28 | 7,373.29 |
| December 2024 | 8,691.26 | 7,557.62 |
As of June 24, 2024, Polycab India’s share price stands at ₹7,261, with market cap at ₹1,09,154 Cr. Projected prices range from ₹6,819.03 to ₹8,691.26 for the remainder of 2024. The stock exhibits a P/E of 61.2, ROCE of 32.3%, and ROE of 24.1%, reflecting strong financial performance and potential for growth.
| When | Maximum Price | Minimum Price |
| January 2025 | 8,865.09 | 6,819.30 |
| February 2025 | 9,092.40 | 6,994.15 |
| March 2025 | 9,447.00 | 7,266.93 |
| April 2025 | 9,261.77 | 7,124.44 |
| May 2025 | 8,992.01 | 6,916.93 |
| June 2025 | 9,396.65 | 7,228.19 |
| July 2025 | 9,212.40 | 7,086.46 |
| August 2025 | 9,497.32 | 7,305.63 |
| September 2025 | 9,829.73 | 7,561.33 |
| October 2025 | 10,085.30 | 7,757.92 |
| November 2025 | 10,337.43 | 7,951.87 |
| December 2025 | 10,595.87 | 8,150.67 |
In 2025, Polycab India’s share price is forecasted to range between ₹6,819.30 and ₹10,595.87, reflecting continued growth and potential market confidence in the company’s performance and prospects.
| When | Maximum Price | Minimum Price |
| January 2026 | 10,913.74 | 8,395.19 |
| February 2026 | 11,193.58 | 8,610.45 |
| March 2026 | 11,630.13 | 8,946.26 |
| April 2026 | 11,402.09 | 8,770.84 |
| May 2026 | 11,069.99 | 8,515.38 |
| June 2026 | 11,568.14 | 8,898.57 |
| July 2026 | 11,341.31 | 8,724.09 |
| August 2026 | 11,692.08 | 8,993.91 |
| September 2026 | 12,101.30 | 9,308.69 |
| October 2026 | 12,415.93 | 9,550.72 |
| November 2026 | 12,726.33 | 9,789.49 |
| December 2026 | 13,044.49 | 10,034.22 |
| When | Maximum Price | Minimum Price |
| January 2027 | 13,305.38 | 10,234.91 |
| February 2027 | 13,646.54 | 10,497.34 |
| March 2027 | 14,178.76 | 10,906.74 |
| April 2027 | 13,900.74 | 10,692.88 |
| May 2027 | 13,495.87 | 10,381.44 |
| June 2027 | 14,103.18 | 10,848.60 |
| July 2027 | 13,826.65 | 10,635.88 |
| August 2027 | 14,254.28 | 10,964.83 |
| September 2027 | 14,753.18 | 11,348.60 |
| October 2027 | 15,136.76 | 11,643.66 |
| November 2027 | 15,515.18 | 11,934.75 |
| December 2027 | 15,903.06 | 12,233.12 |
In 2027, Polycab India’s share price is forecasted to range from ₹10,234.91 to ₹15,903.06, reflecting robust growth expectations.
| When | Maximum Price | Minimum Price |
| January 2028 | 16,221.12 | 12,477.78 |
| February 2028 | 16,637.05 | 12,797.73 |
| March 2028 | 17,285.89 | 13,296.84 |
| April 2028 | 16,946.95 | 13,036.12 |
| May 2028 | 16,453.35 | 12,656.42 |
| June 2028 | 17,193.75 | 13,225.96 |
| July 2028 | 16,856.62 | 12,966.63 |
| August 2028 | 17,377.96 | 13,367.66 |
| September 2028 | 17,986.19 | 13,835.53 |
| October 2028 | 18,453.83 | 14,195.25 |
| November 2028 | 18,915.17 | 14,550.13 |
| December 2028 | 19,388.05 | 14,913.89 |
- January 2028: ₹12,477.78 (Minimum)
- December 2028: ₹19,388.05 (Maximum)
| When | Maximum Price | Minimum Price |
| January 2029 | 19,775.81 | 15,212.16 |
| February 2029 | 20,282.88 | 15,602.22 |
| March 2029 | 21,073.92 | 16,210.71 |
| April 2029 | 20,660.70 | 15,892.85 |
| May 2029 | 20,058.94 | 15,429.95 |
| June 2029 | 20,961.59 | 16,124.30 |
| July 2029 | 20,550.58 | 15,808.14 |
| August 2029 | 21,186.16 | 16,297.05 |
| September 2029 | 21,927.68 | 16,867.44 |
| October 2029 | 22,497.80 | 17,306.00 |
| November 2029 | 23,060.24 | 17,738.65 |
| December 2029 | 23,636.75 | 18,182.11 |
- March 2029: ₹16,210.71(Minimum)
- December 2029: ₹23,636.75 (Maximum)
| When | Maximum Price | Minimum Price |
| January 2030 | 24,109.48 | 18,545.76 |
| February 2030 | 24,727.67 | 19,021.29 |
| March 2030 | 25,692.05 | 19,763.12 |
| April 2030 | 25,188.29 | 19,375.61 |
| May 2030 | 24,454.65 | 18,811.27 |
| June 2030 | 25,555.11 | 19,657.77 |
| July 2030 | 25,054.03 | 19,272.33 |
| August 2030 | 25,828.89 | 19,868.38 |
| September 2030 | 26,732.90 | 20,563.77 |
| October 2030 | 27,427.96 | 21,098.43 |
| November 2030 | 28,113.66 | 21,625.89 |
| December 2030 | 28,816.50 | 22,166.54 |
- January 2030: ₹18,545.76 (Minimum)
- December 2030: ₹28,816.50 (Maximum)
Financial Condition of Polycab India: Last 5 Years
| Financials | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 |
|---|---|---|---|---|---|---|
| Sales (Rs. Crores) | 7,986 | 8,830 | 8,792 | 12,204 | 14,108 | 18,039 |
| Expenses (Rs. Crores) | 7,035 | 7,701 | 7,681 | 10,940 | 12,265 | 15,548 |
| Operating Profit (Rs. Crores) | 950 | 1,129 | 1,111 | 1,264 | 1,843 | 2,492 |
| OPM (%) | 12 | 13 | 13 | 10 | 13 | 14 |
| Other Income (Rs. Crores) | 64 | 91 | 164 | 161 | 133 | 221 |
| Interest (Rs. Crores) | 117 | 50 | 43 | 35 | 60 | 108 |
| Depreciation (Rs. Crores) | 141 | 161 | 176 | 202 | 209 | 245 |
| Profit before tax (Rs. Crores) | 756 | 1,010 | 1,056 | 1,188 | 1,707 | 2,359 |
| Tax (%) | 34 | 24 | 16 | 23 | 25 | 24 |
| Net Profit (Rs. Crores) | 500 | 766 | 886 | 917 | 1,282 | 1,803 |
| EPS (Rs) | 35.39 | 50.97 | 59.15 | 60.80 | 84.80 | 118.75 |
| Dividend Payout (%) | 8 | 14 | 17 | 23 | 24 | 25 |
Over the past five years, Polycab India has shown consistent growth in its financial performance. Sales increased from ₹7,986 crores in 2019 to ₹18,039 crores in 2024. Operating profit also saw a significant rise from ₹950 crores to ₹2,492 crores, with OPM improving from 12% to 14%. Net profit grew from ₹500 crores to ₹1,803 crores, reflecting strong profitability despite fluctuations in the tax rate. EPS climbed from ₹35.39 to ₹118.75, and dividend payout percentage increased from 8% to 25%, indicating enhanced returns for shareholders. Overall, Polycab India’s financial health has strengthened remarkably, demonstrating robust growth and efficient cost management
FAQs
What is Polycab India’s current market cap?
Polycab India’s current market capitalization stands impressively at ₹1,09,154 crore.
As of June 24, 2024, the current share price of Polycab India is ₹7,261.
The company envisions a promising future, with projected share prices ranging from ₹6,819.30 to ₹10,595.87 by December 2025.
What is the targeted revenue for Polycab India through Project Leap by FY26?
With ambitious aspirations, Polycab India aims to achieve a revenue milestone of ₹20,000 crore by FY26 through its visionary Project Leap.
How has Polycab India’s net profit grown in the last five years?
Polycab India’s net profit has seen a commendable ascent, reaching ₹1,282 crore in the TTM of 2023 from ₹500 crore in 2019.
What is Polycab India’s one-year Stock Price Compound Annual Growth Rate (CAGR)?
Investors have witnessed stellar returns, with Polycab India’s stock achieving an outstanding one-year Compound Annual Growth Rate (CAGR) of 104%.
The envisioned share prices for Polycab India in December 2030 range from a minimum of ₹18,545.76 to a maximum of ₹28,816.50.
What is the company’s Stock P/E ratio?
As of 24th June, 2024, Polycab India’s Stock P/E ratio is reported at 61.2.
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Conclusion: Polycab India’s Resilient Growth, Financial Prudence, and Future Potential
In conclusion, Polycab India emerges as a stalwart in the electrical solutions industry, with a diverse product portfolio that extends beyond its core expertise in cables and wires. The company’s strategic diversification across Wires and Cables, Fast Moving Electrical Goods (FMEG), and other ventures underscores its adaptability and innovative approach.
Noteworthy is the company’s prudent financial management, with a near debt-free status, a commendable dividend payout of 24%, and an improvement in debtor days from 43.5 to 32.2 days. Additionally, the stock’s attractive valuation, trading at 11.1 times its book value, positions Polycab as an enticing investment opportunity.
In summary, Polycab India stands as a beacon of stability, innovation, and financial prudence in the electrical solutions sector, offering investors a compelling opportunity for long-term value creation.
What did we learn?
- 1 About Polycab India
- 2 How to Purchase Polycab India Shares?
- 3 Polycab India Share Price Target 2024 To 2030
- 4 Financial Condition of Polycab India: Last 5 Years
- 5 FAQs
- 5.1 What is Polycab India’s current market cap?
- 5.2 What is the current share price of Polycab India?
- 5.3 What is the projected share price target for Polycab India in 2025?
- 5.4 What is the targeted revenue for Polycab India through Project Leap by FY26?
- 5.5 How has Polycab India’s net profit grown in the last five years?
- 5.6 What is Polycab India’s one-year Stock Price Compound Annual Growth Rate (CAGR)?
- 5.7 What is the maximum and minimum projected share price for Polycab India in 2030?
- 5.8 What is the company’s Stock P/E ratio?
- 6 Conclusion: Polycab India’s Resilient Growth, Financial Prudence, and Future Potential
