Polycab India Ltd

Polycab India Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

Polycab India Ltd

₹ 7,178 -4.21%
20 Dec - close price
polycab.com BSE: 542652 NSE: POLYCAB
About

Polycab is India’s leading manufacturers of cables and wires and allied products such as uPVC conduits and lugs and glands. We have a range of cables and wires for practically every application. More recently Polycab has also launched a wide range of consumer electrical products like Fans, Switches, Switchgear, LED lights and Luminaries, Solar Inverters, and Pumps.

Key Points

Business Segments[1]
1 Wires and Cables (W&C): company manufactures wires and cables for retail and industrial use, catering to a diverse customer base across a wide range of industries.
2 FMEG: commenced in FY14, is a high-growth segment. It features a growing product
mix across different price points that caters to the complete spectrum of customers .
3 Others: Mainly EPC business.

Website BSE NSE
  • Market Cap ₹ 1,07,975 Cr.
  • Current Price ₹ 7,178
  • High / Low ₹ 7,607 / 3,801
  • Stock P/E 62.2
  • Book Value ₹ 568
  • Dividend Yield 0.42 %
  • ROCE 31.4 %
  • ROE 23.1 %
  • Face Value ₹ 10.0
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Pros

  • Company is almost debt free.
  • Company has delivered good profit growth of 27.8% CAGR over last 5 years
  • Company has been maintaining a healthy dividend payout of 23.8%

Cons

  • Stock is trading at 12.6 times its book value
  • Promoter holding has decreased over last quarter: -1.96%

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Cables Industry: Cables - Power

Part of Nifty Midcap150 Momentum 50 Nifty Midcap150 Quality 50 Nifty India Manufacturing Nifty Midcap Select Nifty 500 Multicap 50:25:25

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024
2,990 3,341 3,927 2,699 3,261 3,665 4,288 3,849 4,256 4,513 5,433 4,601 5,366
2,701 2,986 3,460 2,397 2,847 3,170 3,687 3,305 3,625 3,892 4,796 4,042 4,761
Operating Profit 289 356 466 302 414 495 601 545 631 621 637 559 605
OPM % 10% 11% 12% 11% 13% 14% 14% 14% 15% 14% 12% 12% 11%
26 146 17 44 -2 40 54 64 36 71 52 60 78
Interest 5 7 12 8 13 8 27 24 24 30 23 39 42
Depreciation 49 50 49 49 51 51 53 56 58 60 63 65 69
Profit before tax 261 444 423 289 348 476 575 529 584 602 603 515 571
Tax % 24% 24% 24% 24% 25% 25% 25% 24% 23% 24% 24% 25% 25%
198 338 320 218 261 358 432 402 450 459 458 388 431
EPS in Rs 13.27 22.63 21.43 14.60 17.41 23.89 28.86 26.86 29.98 30.58 30.49 25.78 28.64
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 TTM
3,833 4,697 5,203 5,500 6,759 7,940 8,807 8,736 12,098 13,914 18,051 19,913
3,554 4,263 4,709 5,023 6,035 6,992 7,689 7,645 10,857 12,103 15,614 17,491
Operating Profit 279 434 494 477 724 948 1,118 1,091 1,241 1,811 2,436 2,422
OPM % 7% 9% 9% 9% 11% 12% 13% 12% 10% 13% 14% 12%
8 5 32 75 67 64 92 120 214 136 220 260
Interest 90 108 147 65 92 116 48 41 33 56 100 135
Depreciation 63 97 111 127 132 140 159 174 197 206 237 257
Profit before tax 133 234 267 360 567 757 1,003 995 1,225 1,685 2,319 2,291
Tax % 36% 33% 30% 35% 37% 34% 24% 16% 24% 25% 24%
85 157 186 232 358 501 761 831 931 1,269 1,770 1,736
EPS in Rs 12.10 11.13 13.21 16.45 25.38 35.51 51.10 55.75 62.32 84.73 117.79 115.49
Dividend Payout % 8% 9% 13% 6% 4% 8% 14% 18% 22% 24% 25%
Compounded Sales Growth
10 Years: 17%
5 Years: 18%
3 Years: 27%
TTM: 24%
Compounded Profit Growth
10 Years: 35%
5 Years: 28%
3 Years: 28%
TTM: 6%
Stock Price CAGR
10 Years: %
5 Years: 50%
3 Years: 44%
1 Year: 34%
Return on Equity
10 Years: 19%
5 Years: 20%
3 Years: 20%
Last Year: 23%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Sep 2024
Equity Capital 71 141 141 141 141 141 149 149 149 150 150 150
Reserves 1,294 1,484 1,638 1,853 2,207 2,708 3,691 4,558 5,371 6,456 7,994 8,386
445 545 794 844 789 258 146 125 111 36 51 65
762 1,154 1,305 1,722 1,287 2,488 1,942 1,894 1,676 2,585 3,562 4,707
Total Liabilities 2,572 3,325 3,878 4,561 4,424 5,595 5,928 6,727 7,307 9,227 11,758 13,309
693 822 984 1,113 1,180 1,255 1,395 1,581 1,619 2,026 2,275 2,498
CWIP 113 179 132 165 135 186 241 98 374 249 537 746
Investments 13 2 4 37 39 43 86 697 813 1,382 1,824 2,168
1,753 2,322 2,758 3,246 3,070 4,112 4,206 4,351 4,500 5,569 7,121 7,898
Total Assets 2,572 3,325 3,878 4,561 4,424 5,595 5,928 6,727 7,307 9,227 11,758 13,309

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
207 221 283 352 1,224 234 1,175 461 1,452 1,292
-176 -251 -269 -178 -396 -257 -1,038 -360 -1,188 -762
-37 41 -19 -189 -657 16 -110 -185 -256 -396
Net Cash Flow -6 10 -5 -15 171 -8 27 -84 8 133

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 79 84 95 80 70 62 60 60 39 32 46
Inventory Days 70 95 94 134 97 127 115 111 84 102 92
Days Payable 75 103 102 119 66 97 81 75 46 71 79
Cash Conversion Cycle 74 76 86 94 101 92 93 97 77 63 59
Working Capital Days 82 90 96 95 88 50 76 75 70 59 61
ROCE % 17% 18% 16% 22% 28% 29% 23% 21% 27% 31%

Shareholding Pattern

Numbers in percentages

2 Recently
Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024
68.15% 68.08% 67.99% 67.97% 66.61% 66.21% 65.99% 65.91% 65.78% 65.24% 65.02% 63.06%
6.43% 5.75% 5.71% 6.44% 8.12% 9.78% 9.66% 12.41% 13.41% 11.96% 13.63% 13.49%
8.66% 9.18% 9.03% 10.35% 10.10% 9.34% 9.75% 8.08% 7.61% 7.23% 6.93% 9.35%
16.77% 16.98% 17.27% 15.24% 15.16% 14.67% 14.61% 13.58% 13.18% 15.58% 14.42% 14.11%
No. of Shareholders 3,03,9123,23,6973,29,4743,26,7743,24,5313,14,1073,09,2293,17,4683,37,3804,23,7873,85,2853,84,949

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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Documents

Announcements

Annual reports

DRHP

Credit ratings

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