Polycab India LimitedPOLYCABCorporate

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

₹8,219.00

MCap ₹123,807 Cr · P/E 39.9

Polycab India Limited — Stock analysis & AI research Polycab India Limited — Seasonality — best & worst months Polycab India Limited — Technical indicators & charts Polycab India Limited — Technical setup — score, trend, support & resistance Polycab India Limited — Double Top pattern forming Polycab India Limited — Live exchange announcements

📋 High ROE Stocks 📋 High ROCE Stocks 📋 High Interest Coverage Stocks 📋 High Sales Growth Stocks 📋 High Profit Growth Stocks 📋 Stocks With Strong Quarterly Results 📈 Bollinger Squeeze Stocks ⚖️ vs KEI Industries ⚖️ vs R R 🏭 Infrastructure sector

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.

₹9,840 Cr

Sales · Sep 2026

+55.2% YoY

₹1,383 Cr

Operating Profit · Sep 2026

+40.4% YoY

14.1%

OPM % · Sep 2026

-9.0% YoY

₹965 Cr

Net Profit · Sep 2026

+43.0% YoY

₹64.06

EPS · Sep 2026

+42.9% YoY

📝 Polycab India Limited — results explained

Quarter ended September 2026 (Q2 FY27)

Polycab India Limited reported revenue of ₹9,840 crore for the quarter ended September 2026 (Q2 FY27), up 55.2% from ₹6,340 crore in the same quarter last year, and up 22.5% sequentially over the June 2026 quarter.

Net profit rose 43.0% year-on-year to ₹965 crore, from ₹675 crore. Earnings per share (EPS) came in at ₹64.06.

Operating profit stood at ₹1,383 crore — an operating margin (OPM) of 14.1%, compared with 15.5% in the year-ago quarter.

Full year and trailing twelve months

For the full year FY26, Polycab India Limited posted revenue of ₹28,147 crore, a growth of 27.6% over FY25, with a net profit of ₹2,611 crore (up 30.7% year-on-year).

On a trailing-twelve-month (TTM) basis, revenue stands at ₹33,976 crore with a net profit of ₹3,099 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 39.9.

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 ?

39.95below ind

Industry P/E ?

45.80

P/B ?

9.60

P/S ?

3.64

P/FCF ?

53.64

Enterprise Value ?

₹123,901 Cr

EV/EBITDA ?

27.34

PEG ?

1.54

Earnings Yield ?

3.3%

Dividend Yield ?

0.57%

Profitability & Returns

Sales (TTM) ?

₹33,976 Cr

OPM ?

13.3%

Profit after tax (TTM) ?

₹3,099 Cr

EPS (TTM) ?

₹205.75

ROCE ?

33.0%

ROE ?

24.0%

ROA ?

13.4%

Growth

Sales — latest qtr ?

₹9,840 Cr

PAT — latest qtr ?

₹965 Cr

YoY qtr sales growth ?

55.2%

YoY qtr profit growth ?

43.0%

Sales growth (3y) ?

27%

Sales growth (5y) ?

26%

Profit growth (3y) ?

26%

Profit growth (5y) ?

24%

Financial Health

Debt ?

₹94 Cr

Debt to Equity ?

0.01

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	3,665	4,287	3,849	4,256	4,513	5,592	4,718	5,366	5,105	6,862	5,704	6,340	7,517	8,585	8,034	9,840	+55.2%	+22.5%
Operating Profit	495	600	545	631	621	762	559	605	699	1,002	805	985	946	1,111	1,092	1,383	+40.4%	+26.7%
Other Income	40	54	65	36	71	54	38	78	25	54	82	51	47	58	103	86	+69.8%	-16.1%
Interest	8	27	24	24	30	24	41	42	48	29	49	46	66	72	77	90	+96.8%	+16.7%
Depreciation	51	52	55	58	60	66	65	69	75	77	82	93	102	94	99	105	+12.1%	+5.3%
Profit Before Tax	476	576	530	584	602	725	533	571	601	952	756	896	825	1,003	1,018	1,274	+42.2%	+25.2%
Net Profit	358	433	403	450	459	553	388	431	453	726	568	675	618	750	766	965	+43.0%	+26.0%
EPS	23.89	28.91	26.94	29.99	30.59	36.37	25.78	28.64	30.12	48.57	37.74	44.83	41.05	49.85	50.89	64.06	+42.9%	+25.9%
OPM %	13.5%	14.0%	14.2%	14.8%	13.8%	13.6%	11.8%	11.3%	13.7%	14.6%	14.1%	15.5%	12.6%	12.9%	13.6%	14.1%	-9.0%	+3.7%

📆 Annual results (₹ Cr, FY = Apr–Mar)

Metric	FY25	FY26	TTM	YoY %
Sales	₹22,051 Cr	₹28,147 Cr	₹33,976 Cr	+27.6%
Operating Profit	₹2,865 Cr	₹3,847 Cr	₹4,532 Cr	+34.3%
OPM %	12.99%	13.67%	13.34%	+5.2%
NPM %	9.06%	9.27%	9.12%	+2.3%
Other Income	₹195 Cr	₹238 Cr	₹294 Cr	+22.4%
Depreciation	₹287 Cr	₹372 Cr	₹400 Cr	+29.5%
Interest	₹160 Cr	₹233 Cr	₹306 Cr	+45.2%
EBIT	₹2,578 Cr	₹3,475 Cr	₹4,132 Cr	+34.8%
PBT	₹2,657 Cr	₹3,481 Cr	₹4,120 Cr	+31.0%
Tax	₹288 Cr	₹617 Cr	₹768 Cr	+114.3%
Net Profit	₹1,998 Cr	₹2,611 Cr	₹3,099 Cr	+30.7%
EPS	₹133.11	₹173.47	₹205.85	+30.3%
Material Cost	₹7,871 Cr	₹15,529 Cr	₹20,693 Cr	+97.3%
Employee Cost	₹356 Cr	₹632 Cr	₹713 Cr	+77.8%
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	6,456	7,994	9,585	11,694	12,748	+9.0%
Borrowings	36	51	76	89	94	+6.1%
Other Liabilities	2,585	3,562	3,568	8,020	10,174	+26.9%
Total Liabilities	9,227	11,758	13,379	19,954	23,167	+16.1%
Fixed Assets	2,026	2,275	2,904	3,603	3,786	+5.1%
CWIP	249	537	701	1,130	1,393	+23.3%
Investments	1,382	1,824	1,717	3,365	3,979	+18.3%
Other Assets	5,569	7,121	8,056	11,855	14,009	+18.2%
Total Assets	9,227	11,758	13,379	19,954	23,167	+16.1%

📦 Working Capital (latest 1 periods)

Metric	Sep 2026	% Chg
Inventories	6,710	—
Trade Receivables	4,026	—
Trade Payables	1,911	—

💧 Cash Flow (latest 4 periods)

Metric	Mar 2023	Mar 2024	Mar 2025	Mar 2026	% Chg
Cash from Operating Activity	1,452	1,292	1,803	3,747	+107.8%
Cash from Investing Activity	-1,188	-762	-1,161	-2,820	-142.9%
Cash from Financing Activity	-256	-396	-667	-776	-16.3%
Net Cash Flow	8	133	-24	152	+733.3%
Free Cash Flow	1,005	473	882	2,308	+161.7%
CFO/OP	100%	76%	84%	119%	+41.7%

💧 Half-year Cash Flow (latest 1 periods)

Metric	Sep 2026	% Chg
Cash from Operating Activity	1,630	—
Cash from Investing Activity	-937	—
Cash from Financing Activity	-867	—
Net Cash Flow	-174	—

➗ Ratios (latest 4 periods)

Metric	Mar 2023	Mar 2024	Mar 2025	Mar 2026	% Chg
Debtor Days	32	46	47	48	+2.1%
Inventory Days	102	92	78	97	+24.4%
Days Payable	71	79	64	108	+68.8%
Cash Conversion Cycle	63	59	61	37	-39.3%
Working Capital Days	59	60	55	31	-43.6%
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?