POLYCAB Stock Financial Analysis - Polycab India Limited (NSEI) Stock

Overview

Polycab India Limited is a leading company based in India, primarily operating in the Electrical Equipment industry. The company is renowned for manufacturing and selling a diverse range of wires, cables, and fast-moving electrical goods (FMEG) like electric fans, LED lighting and luminaires, switches and switchgears, solar products, and conduits and accessories. Established in 1964, Polycab has grown to become a significant player in the Indian electrical goods market with a vast distribution network across the country. Notably, the company has also ventured into the Engineering, Procurement, and Construction (EPC) sector, undertaking several key projects that involve the design, engineering, supply, execution, and commissioning of power distribution and rural electrification projects. Polycab India has 25 manufacturing facilities, including two joint ventures with Techno and Trafigura.

Quality, Value, Momentum Scores

This card shows the Quality, Value, and Momentum scores for the company

Quality

The QualityScore is a proprietary scoring model that identifies high quality companies, based on cash generating efficiencies.

Value

Proprietary scoring model that ranks companies based on their relative valuation. Scores range from 0 to 100, with 100 being the most undervalued.

Momentum

Proprietary scoring model that ranks companies on their six-month momentum.

Fund Sentiment

The Fund Sentiment (fka Ownership) score is a proprietary quantitative model that ranks companies based on levels of ownership accumulation.

QVM

The QVM Score is a proprietary scoring model that combines Quality, Value, and Momentum into a single metric that ranks companies from 0 to 100.

Income Statement: Revenue, Operating Income, Net Income

The revenue for Polycab India Limited as of 30 June 2025 is 236,162.59 MM.
The operating income for Polycab India Limited as of 30 June 2025 is 29,256.78 MM.
The net income for Polycab India Limited as of 30 June 2025 is 22,161.57 MM.

Period End (TTM)	Revenue (MM)	Operating Income (MM)	Net Income (MM)
2025-06-30	236,162.59	29,256.78	22,161.57
2025-03-31	224,083.13	26,700.44	20,199.90
2024-12-31	210,144.10	24,129.36	18,393.26
2024-09-30	201,288.18	22,824.79	17,946.19
2024-06-30	188,480.92	22,716.13	17,803.76
2024-03-31	180,394.44	22,467.65	17,840.45
2023-12-31	167,712.30	20,980.68	16,630.75
2023-09-30	161,459.42	20,350.25	16,081.07
2023-06-30	152,606.03	18,782.60	14,496.74
2023-03-31	141,077.78	16,429.50	12,699.50
2022-12-31	137,540.79	15,226.36	11,679.03
2022-09-30	134,108.93	13,854.06	11,245.30
2022-06-30	130,850.90	12,400.49	10,544.91
2022-03-31	122,037.61	10,648.63	9,085.77
2021-12-31	111,765.20	9,960.36	8,678.65
2021-09-30	105,508.64	9,903.68	8,158.58
2021-06-30	96,708.67	10,066.79	8,384.77
2021-03-31	87,922.34	9,349.81	8,820.94
2020-12-31	79,788.74	8,583.31	8,145.89
2020-09-30	77,398.41	8,466.02	7,708.67

Income Statement: EPS

Period End (TTM)	Earnings Per Share Basic	Earnings Per Share Diluted
2025-06-30
2025-03-31	134.34	133.80
2024-12-31	122.37	121.92
2024-09-30	119.45	119.02
2024-06-30
2024-03-31	118.93	118.49
2023-12-31	110.95	110.53
2023-09-30	107.36	107.01
2023-06-30	96.83	96.55
2023-03-31	84.87	84.61
2022-12-31	78.09	77.82
2022-09-30	75.24	75.03
2022-06-30	70.60	70.31
2022-03-31	60.87	60.60
2021-12-31	58.17	57.92
2021-09-30	54.71	54.42
2021-06-30	56.25	56.01
2021-03-31	59.20	58.96
2020-12-31	54.69	54.43
2020-09-30	51.79	51.53

Cash Flow: Operations, Investing, Financing

The cash from operating activities for Polycab India Limited as of 30 June 2025 is 30,948.49 MM.
The cash from investing activities for Polycab India Limited as of 30 June 2025 is -25,099.34 MM.
The cash from financing activities for Polycab India Limited as of 30 June 2025 is -6,471.44 MM.

Period End (TTM)	Cash From Operating Activities (MM)	Cash From Investing Activities (MM)	Cash From Financing Activities (MM)
2025-06-30	30,948.49	-25,099.34	-6,471.44
2025-03-31	18,085.34	-12,393.14	-6,282.75
2024-12-31	13,875.15	-9,785.50	-5,817.93
2024-09-30	23,321.32	-18,747.21	-5,491.88
2024-06-30	14,867.47	-12,466.28	-1,498.58
2024-03-31	12,962.40	-7,518.77	-3,874.13
2023-12-31	9,076.39	-3,895.90	-3,647.72
2023-09-30	7,629.22	-2,680.58	-3,643.89
2023-06-30	12,247.61	-8,745.02	-2,892.14
2023-03-31	14,275.21	-12,026.46	-2,270.72
2022-12-31	20,102.72	-17,520.59	-2,312.10
2022-09-30	12,621.11	-10,167.36	-2,476.82
2022-06-30	4,647.82	73.98	-4,850.07
2022-03-31	5,116.11	-4,269.51	-2,006.90
2021-12-31	-4,849.10	5,386.66	-2,267.50
2021-09-30	6,845.26	-5,906.04	-2,277.31
2021-06-30	7,898.03	-7,758.14	-1,615.31
2021-03-31	12,524.21	-10,120.92	-1,747.72
2020-12-31	12,479.96	-8,003.57	-2,556.40
2020-09-30	7,808.01	-4,369.09	-2,666.51

Valuation Metrics : PE, PriceToBook, PriceToTBV

The p/e for Polycab India Limited as of 30 June 2025 is 48.39.
The p/book for Polycab India Limited as of 30 June 2025 is 9.87.
The p/tbv for Polycab India Limited as of 30 June 2025 is 9.96.

P/Book: The current closing price divided by the book value per share.

P/TBV: The current price divided by the tangible book value per share.

Period End (TTM)	p/e	P/Book	P/TBV
2025-06-30	48.39	9.87	9.96
2025-03-31	42.60	8.56	8.58
2024-12-31	59.93	12.42	12.44
2024-09-30	59.45	12.87	12.90
2024-06-30	58.87	12.74	12.77
2024-03-31	45.79	9.92	9.95
2023-12-31	54.32	12.06	12.17
2023-09-30	60.18	13.08	13.19
2023-06-30	69.60	15.13	15.18
2023-03-31	79.44	15.13	15.17
2022-12-31	77.48	14.85	14.99
2022-09-30	89.67	17.19	17.25
2022-06-30	95.58	18.05	18.12
2022-03-31	110.79	18.08	18.15
2021-12-31	115.95	19.21	19.30
2021-09-30	123.23	20.47	20.59
2021-06-30	119.83	20.72	20.84
2021-03-31	113.87	21.05	21.09
2020-12-31	123.27	22.36	22.41
2020-09-30	130.20	23.73	23.76

Valuation Metrics : EBitToEv, EBit3YrAvgToEv

The ebit/ev for Polycab India Limited as of 30 June 2025 is 0.03.
The ebit (3y)/ev for Polycab India Limited as of 30 June 2025 is 0.02.

Period End (TTM)	EBIT/EV	EBIT (3y)/EV
2025-06-30	0.03	0.02
2025-03-31	0.03	0.03
2024-12-31	0.02	0.02
2024-09-30	0.02	0.02
2024-06-30	0.02	0.02
2024-03-31	0.03	0.02
2023-12-31	0.02	0.02
2023-09-30	0.02	0.02
2023-06-30	0.02	0.01
2023-03-31	0.02	0.01
2022-12-31	0.02	0.01
2022-09-30	0.01	0.01
2022-06-30	0.01	0.01
2022-03-31	0.01	0.01
2021-12-31	0.01	0.01
2021-09-30	0.01	0.01
2021-06-30	0.01	0.01
2021-03-31	0.01	0.01
2020-12-31	0.01	0.01
2020-09-30	0.01	0.01

Management Effectiveness

The roa for Polycab India Limited as of 30 June 2025 is 0.17.
The roe for Polycab India Limited as of 30 June 2025 is 0.25.
The roic for Polycab India Limited as of 30 June 2025 is 0.20.
The croic for Polycab India Limited as of 30 June 2025 is -0.01.
The ocroic for Polycab India Limited as of 30 June 2025 is 0.18.

Period End (TTM)	ROA	ROE	ROIC	CROIC	OCROIC
2025-06-30	0.17	0.25	0.20	-0.01	0.18
2025-03-31	0.17	0.24	0.20	-0.02	0.15
2024-12-31	0.16	0.24	0.20	-0.01	0.26
2024-09-30	0.18	0.25	0.21	0.02	0.15
2024-06-30	0.19	0.27	0.21	0.02	0.15
2024-03-31	0.20	0.27	0.21	0.02	0.12
2023-12-31	0.20	0.27	0.21	0.02	0.10
2023-09-30	0.21	0.26	0.21	0.01	0.18
2023-06-30	0.21	0.26	0.21	0.01	0.18
2023-03-31	0.17	0.23	0.18	0.00	0.20
2022-12-31	0.16	0.23	0.19	-0.00	0.21
2022-09-30	0.16	0.23	0.19	-0.00	0.21
2022-06-30	0.15	0.22	0.18	-0.00	0.08
2022-03-31	0.13	0.19	0.16	-0.02	0.09
2021-12-31	0.12	0.19	0.16	-0.03	-0.09
2021-09-30	0.13	0.19	0.15	-0.03	0.13
2021-06-30	0.13	0.21	0.16	-0.03	0.15
2021-03-31	0.15	0.23	0.17	0.01	0.24
2020-12-31	0.14	0.22	0.17	0.04	0.26
2020-09-30	0.13	0.22	0.17	0.02	0.17

Gross Margins

The gross margin for Polycab India Limited as of 30 June 2025 is 0.25.
The net margin for Polycab India Limited as of 30 June 2025 is 0.09.
The operating margin for Polycab India Limited as of 30 June 2025 is 0.12.

Gross Margin: The Gross Margin is the ratio of revenue left after substracting the Cost of Goods Sold. It is calculated as 1.0 - (Revenue - COGS ) / Revenue.

Net Margin: The Net Margin (aka Profit Margin) is the ratio of revenue left after substracting the Net Income. It is calculated as Net Income / Revenue.

Operating Margin: The Operaing Margin is the ratio of revenue left after substracting the Operating Income. It is calculated as Operating Income / Revenue.

Period End (TTM)	Gross Margin	Net Margin	Operating Margin
2025-06-30	0.25	0.09	0.12
2025-03-31	0.25	0.09	0.11
2024-12-31	0.25	0.09	0.11
2024-09-30	0.26	0.10	0.12
2024-06-30	0.26	0.10	0.12
2024-03-31	0.26	0.10	0.13
2023-12-31	0.26	0.10	0.13
2023-09-30	0.26	0.09	0.12
2023-06-30	0.26	0.09	0.12
2023-03-31	0.25	0.09	0.12
2022-12-31	0.24	0.08	0.10
2022-09-30	0.24	0.08	0.10
2022-06-30	0.23	0.08	0.09
2022-03-31	0.22	0.07	0.09
2021-12-31	0.23	0.08	0.09
2021-09-30	0.23	0.08	0.10
2021-06-30	0.25	0.09	0.11
2021-03-31	0.26	0.10	0.11
2020-12-31	0.27	0.10	0.11
2020-09-30	0.28	0.10	0.11