Polycab India LimitedPOLYCABCorporate

Industrials Electrical Equipment & Parts Latest results: Sep 2026 16 quarters of data

₹8,219.00

MCap ₹123,807 Cr · P/E 38.7

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AI-assisted data: figures and text on this page are extracted from public quarterly filings with AI assistance, checked automatically and overseen by our editorial team (human in the loop). They may still contain errors or omissions. Verify critical numbers against official company / SEBI / NSE / BSE filings before making any decision. Educational information only, not financial advice.

₹9,899 Cr

Sales · Sep 2026

+52.8% YoY

₹1,422 Cr

Operating Profit · Sep 2026

+39.4% YoY

14.4%

OPM % · Sep 2026

-8.9% YoY

₹990 Cr

Net Profit · Sep 2026

+42.9% YoY

₹64.87

EPS · Sep 2026

+42.4% YoY

📝 Polycab India Limited — results explained

Quarter ended September 2026 (Q2 FY27)

Polycab India Limited reported revenue of ₹9,899 crore for the quarter ended September 2026 (Q2 FY27), up 52.8% from ₹6,477 crore in the same quarter last year, and up 20.6% sequentially over the June 2026 quarter.

Net profit rose 42.9% year-on-year to ₹990 crore, from ₹693 crore. Earnings per share (EPS) came in at ₹64.87.

Operating profit stood at ₹1,422 crore — an operating margin (OPM) of 14.4%, compared with 15.8% in the year-ago quarter.

Full year and trailing twelve months

For the full year FY26, Polycab India Limited posted revenue of ₹28,883 crore, a growth of 28.9% over FY25, with a net profit of ₹2,709 crore (up 32.5% year-on-year).

On a trailing-twelve-month (TTM) basis, revenue stands at ₹34,609 crore with a net profit of ₹3,203 crore.

Valuation snapshot

At the current price of ₹8,219.00, POLYCAB has a market capitalisation of ₹123,807 crore and a trailing P/E of about 38.7.

Within the Electrical Equipment & Parts industry, it is the 3rd-largest of the 18 companies we track by market value.

Shareholding pattern

As of Jun 2026, promoters held 61.46%, foreign institutional investors (FIIs) 19.00%, domestic institutional investors (DIIs) 7.62%, public shareholders 11.92% of Polycab India Limited.

📈 Share price & events

📊 Quarterly trend

₹ crore · OPM % on right axis

🎯 Key metrics

price-linked ratios use the latest close

Valuation

Market Cap ?

₹123,807 Cr

Current Price ?

₹8,219.0

P/E ?

38.66below ind

Industry P/E ?

45.80

P/B ?

9.46

P/S ?

3.58

P/FCF ?

52.91

Enterprise Value ?

₹124,079 Cr

EV/EBITDA ?

26.48

PEG ?

1.43

Earnings Yield ?

3.4%

Dividend Yield ?

0.57%

Profitability & Returns

Sales (TTM) ?

₹34,609 Cr

OPM ?

13.5%

Profit after tax (TTM) ?

₹3,203 Cr

EPS (TTM) ?

₹212.61

ROCE ?

33.0%

ROE ?

24.5%

ROA ?

13.5%

Growth

Sales — latest qtr ?

₹9,899 Cr

PAT — latest qtr ?

₹990 Cr

YoY qtr sales growth ?

52.8%

YoY qtr profit growth ?

42.9%

Sales growth (3y) ?

27%

Sales growth (5y) ?

27%

Profit growth (3y) ?

27%

Profit growth (5y) ?

24%

Financial Health

Debt ?

₹272 Cr

Debt to Equity ?

0.02

Interest Coverage ?

14.9

Current Ratio ?

N/A

Ownership

Promoter holding ?

61.46%

Change in promoter holding ?

-1.55%

Pledged percentage ?

N/A

Market

Return 3 months ?

-7.3%

Return 6 months ?

0.4%

🗓️ Quarterly results (16 quarters · ₹ Cr)

same fiscal quarter as Sep bestweakest per row · for costs (interest, NPAs) low is best Highlight

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	Mar 2026	Jun 2026	Sep 2026	YoY %	QoQ %
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	8,864	8,210	9,899	+52.8%	+20.6%
Operating Profit	504	610	549	609	570	762	583	632	720	1,025	858	1,021	966	1,161	1,136	1,422	+39.4%	+25.2%
Other Income	40	52	64	35	71	54	58	76	25	48	80	45	50	60	105	88	+94.5%	-15.8%
Interest	9	28	25	27	32	24	41	45	50	33	51	48	69	75	80	94	+93.4%	+17.0%
Depreciation	52	53	57	60	62	66	67	72	79	80	86	97	106	98	103	111	+14.7%	+7.9%
Profit Before Tax	481	573	530	557	546	725	533	590	617	961	801	921	842	1,049	1,058	1,306	+41.8%	+23.4%
Net Profit	361	428	403	430	417	553	402	445	464	734	600	693	630	786	797	990	+42.9%	+24.3%
EPS	23.89	52.27	26.66	28.38	27.50	36.34	26.35	29.25	30.42	48.31	39.36	45.54	41.30	51.33	52.09	64.87	+42.4%	+24.5%
OPM %	13.6%	14.1%	14.1%	14.4%	13.1%	13.6%	12.4%	11.5%	13.8%	14.7%	14.5%	15.8%	12.7%	13.1%	13.8%	14.4%	-8.9%	+4.3%

📆 Annual results (₹ Cr, FY = Apr–Mar)

Metric	FY25	FY26	TTM	YoY %
Sales	₹22,408 Cr	₹28,883 Cr	₹34,609 Cr	+28.9%
Operating Profit	₹2,960 Cr	₹4,005 Cr	₹4,686 Cr	+35.3%
OPM %	13.21%	13.87%	13.54%	+5.0%
NPM %	9.13%	9.38%	9.25%	+2.7%
Other Income	₹208 Cr	₹235 Cr	₹303 Cr	+13.4%
Depreciation	₹298 Cr	₹386 Cr	₹418 Cr	+29.6%
Interest	₹170 Cr	₹244 Cr	₹318 Cr	+43.7%
EBIT	₹2,662 Cr	₹3,619 Cr	₹4,268 Cr	+36.0%
PBT	₹2,702 Cr	₹3,613 Cr	₹4,255 Cr	+33.7%
Tax	₹277 Cr	₹429 Cr	₹578 Cr	+54.9%
Net Profit	₹2,045 Cr	₹2,709 Cr	₹3,203 Cr	+32.5%
EPS	₹134.33	₹177.53	₹209.59	+32.2%
Material Cost	₹7,307 Cr	₹9,700 Cr	₹14,899 Cr	+32.8%
Employee Cost	₹334 Cr	₹449 Cr	₹527 Cr	+34.5%
Extraordinary Items	—	—	—	—

🏛️ Balance Sheet (latest 5 periods)

Metric	Mar 2023	Mar 2024	Mar 2025	Mar 2026	Sep 2026	% Chg
Equity Capital	150	150	150	151	151	-0.2%
Reserves	6,487	8,037	9,678	11,858	12,943	+9.2%
Borrowings	109	161	202	236	272	+15.2%
Other Liabilities	2,678	3,718	3,718	8,220	10,429	+26.9%
Total Liabilities	9,424	12,066	13,749	20,465	23,795	+16.3%
Fixed Assets	2,067	2,338	3,011	3,740	3,979	+6.4%
CWIP	251	578	708	1,139	1,401	+23.0%
Investments	1,350	1,822	1,749	3,405	4,032	+18.4%
Other Assets	5,756	7,328	8,280	12,180	14,383	+18.1%
Total Assets	9,424	12,066	13,749	20,465	23,795	+16.3%

📦 Working Capital (latest 1 periods)

Metric	Sep 2026	% Chg
Inventories	6,963	—
Trade Receivables	3,995	—
Trade Payables	1,967	—

💧 Cash Flow (latest 4 periods)

Metric	Mar 2023	Mar 2024	Mar 2025	Mar 2026	% Chg
Cash from Operating Activity	1,428	1,296	1,809	3,811	+110.7%
Cash from Investing Activity	-1,203	-752	-1,239	-2,850	-130.0%
Cash from Financing Activity	-227	-387	-628	-799	-27.2%
Net Cash Flow	-2	157	-59	162	+374.6%
Free Cash Flow	969	438	853	2,340	+174.3%
CFO/OP	98%	75%	82%	117%	+42.7%

💧 Half-year Cash Flow (latest 1 periods)

Metric	Sep 2026	% Chg
Cash from Operating Activity	1,671	—
Cash from Investing Activity	-951	—
Cash from Financing Activity	-896	—
Net Cash Flow	-176	—

➗ Ratios (latest 4 periods)

Metric	Mar 2023	Mar 2024	Mar 2025	Mar 2026	% Chg
Debtor Days	32	41	42	48	+14.3%
Inventory Days	104	105	86	99	+15.1%
Days Payable	72	82	64	108	+68.8%
Cash Conversion Cycle	65	65	64	39	-39.1%
Working Capital Days	58	59	54	30	-44.4%
ROCE %	27%	31%	30%	33%	+10.0%

👥 Shareholding (latest 5 periods)

Metric	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	% Chg
Promoters	63.01%	61.53%	61.50%	61.50%	61.46%	-0.1%
FIIs	11.45%	13.96%	14.82%	18.21%	19.00%	+4.3%
DIIs	11.61%	11.70%	11.13%	7.95%	7.62%	-4.2%
Public	13.94%	12.83%	12.54%	12.33%	11.92%	-3.3%
No. of Shareholders	3,98,064	3,70,871	3,62,580	3,62,997	3,56,777	-1.7%

⚖️ Peer comparison

Industry: Electrical Equipment & Parts · 18 companies · full page →

#	Company	CMP	MCap (Cr)	P/E	Sales TTM	NP TTM	OPM%	NPM%	Sales YoY%	NP YoY%	Qtr Rev Δ%	Qtr NP Δ%
1	CGPOWER CG Power	₹909.00	143,208	114.5	12,821	1,240	12.8%	9.7%	25.3%	23.1%	14.0%	15.5%
2	POWERINDIA Hitachi Energy	₹30,760.00	137,105	119.2	9,163	1,149	15.5%	12.5%	27.6%	157.4%	68.6%	122.8%
3	POLYCAB Polycab India	₹8,241.00	124,138	39.3	34,609	3,203	13.5%	9.3%	28.9%	32.5%	52.8%	42.9%
4	APARINDS APAR Industries	₹17,940.00	75,119	61.0	24,389	1,181	8.9%	4.8%	23.3%	18.9%	29.1%	77.8%
5	HAVELLS Havells India	₹1,111.00	69,722	42.6	23,576	1,632	9.2%	6.9%	3.4%	15.0%	19.5%	-16.6%
6	KEI KEI Industries	₹4,578.00	43,766	43.9	12,342	997	11.1%	8.1%	20.8%	31.8%	23.0%	40.0%
7	HONAUT Honeywell Automation	₹34,700.00	30,700	51.0	4,513	602	15.9%	13.3%	3.3%	15.4%	19.2%	4.5%
8	SCHNEIDER Schneider Electric	₹1,225.00	29,290	159.3	2,920	183	11.5%	6.3%	9.6%	-20.9%	4.7%	-69.7%
9	RRKABEL R R	₹2,428.00	27,462	45.2	10,832	608	8.5%	5.6%	27.6%	58.0%	53.9%	128.6%
10	FINCABLES Finolex Cables	₹1,430.10	21,872	27.3	6,939	800	10.5%	11.5%	18.9%	1.8%	44.3%	53.1%
11	HBLENGINE HBL ENGINEERING	₹717.55	19,890	25.5	3,339	781	32.0%	23.4%	67.8%	193.8%	6.0%	-23.8%
12	GRAPHITE Graphite India	₹815.30	15,929	74.7	3,029	209	3.0%	6.9%	11.4%	-62.7%	26.6%	28.6%
13	VGUARD V-Guard Industries	₹327.15	14,293	39.3	6,310	365	9.4%	5.8%	7.0%	-1.8%	23.5%	76.4%
14	KANOHAR Kanohar Electricals	₹1,153.40	9,133	—	—	—	—	—	—	—	104.6%	148.5%
15	LASERPOWER Laser Power	₹284.95	4,000	—	—	—	—	—	—	—	14.9%	-57.7%
16	MARSONS Marsons	₹129.91	2,236	50.8	247	44	16.9%	17.9%	45.5%	72.5%	4.7%	-26.2%
17	MVELECTRO MV Electrosystems	₹798.60	2,179	—	—	—	—	—	—	—	-5.0%	-20.2%
18	RMC RMC Switchgears	₹194.98	206	—	—	—	—	—	—	—	-58.0%	-54.5%

❓ Frequently asked questions

What was Polycab India Limited's revenue in Q2 FY27?

What was Polycab India Limited's net profit in Q2 FY27?