Polycab India Ltd.
Infrastructure · NSE
52-week range
₹5,569 – ₹9,159
From 52w high
-0.8%
RSI (14)
76.2
vs SMA 50 / 200
↑ 50 · ↑ 200
Polycab India (₹9,004.50) has gained 53.82% over the past 12 months and sits near its 52-week high with both 50-DMA and 200-DMA well below current price. FY26 results showed record revenue and 32% PAT growth for the full year, though Q4 standalone profit rose a more modest 7% YoY to ₹786 crore. The stock trades at a trailing PE of 50.84 with a forward PE of 36.58, against a 5-year earnings CAGR of 8% and a 5-year revenue CAGR of 26.9%.
- ✓Highest ROE among ranked peers at 24.59% versus CG Power (19.56%) and L&T (15.54%), ranking 1st of 6 in the sector on this metric.
- ✓FCF positive in 4 of the available years, with ROE above 15% in 4 of those years, producing a persistence consistency score of 83.
- ✓FY26 full-year PAT growth of 32% accompanied by a ₹47/share dividend declaration signals strong cash generation capacity at the group level.
- ✓Forward PE of 36.58 represents a meaningful compression from the trailing PE of 50.84, reflecting the market pricing in significant near-term earnings improvement.
- ✗RSI at 73.15 places the stock in overbought territory; the price is 15% above the 50-DMA and 20% above the 200-DMA with no resistance levels identified above current price.
- ✗5-year earnings CAGR of 8% trails the 5-year revenue CAGR of 26.9% by a wide margin, indicating that top-line scale has not translated proportionately into net profit growth — profit margin is 9.25%.
- ✗Debt-to-equity of 1.94 is on a rising trend; the newly incorporated EPC subsidiary could further increase capital deployment requirements.
- ✗Quality score of 48 ranks 2nd of 6 in the sector, but in absolute terms this is mid-range, reflecting the earnings-revenue growth divergence and rising debt.
- ·Polycab reported Q4 FY26 standalone profit of ₹786 crore (+7% YoY) and FY26 full-year PAT growth of 32%, with revenue described as a record; the company declared a ₹47/share dividend.
- ·The company incorporated a wholly owned subsidiary in April 2026 focused on EPC (Engineering, Procurement, and Construction) projects, marking an expansion beyond its core wires-and-cables business.
- ·Mean analyst rating of 1.87 across 31 analysts (1–5 scale, lower = more constructive), with the stock near its 52-week high (1.69% below peak).
- ?Does the 26.9% revenue CAGR reflect genuine market-share gains in the wires-and-cables segment, or does it partly reflect commodity price pass-through that may not sustain in a lower-copper-price environment?
- ?What is the margin profile of the new EPC subsidiary relative to the core cables business, and how might increased EPC revenue mix affect consolidated profit margins over the next 3–5 years?
- ?Given the rising debt-to-equity trend from 1.94, at what point does incremental capital allocation to EPC and new subsidiaries begin to pressure return on equity?
- ?The forward PE of 36.58 implies a material step-up in earnings — what specific revenue segments or operating leverage drivers are expected to close the historical gap between 26.9% revenue growth and 8% earnings growth?
PE
50.8
Forward PE
36.6
ROE
+24.6%
Profit margin
+9.3%
D/E
1.94
Dividend yield
+0.4%
Quality score
48/100
ROE 5y above 15%
4/5 yrs
FCF 5y positive
4/5 yrs
For informational purposes only. Not investment advice. VivaTrades is not a SEBI-registered Investment Adviser or Research Analyst. Market data sourced from public feeds; consult a registered adviser before any investment decision.Analysis generated 11 May 2026.