Polycab IndiaNSE:POLYCAB
Current view Q1 2027
Biggest wire and cable maker, with genuinely consistent management and a consumer arm that has become a real second engine. But growth is coming from higher copper prices rather than more units sold, exports have missed their target for years, and the stock is already over priced - no earning trigger for me as of now.
Latest exchange filings last 5 · 5 after Q1 2027
- 17 Sep ’26Announcement Under Regulation 30 (LODR) - Analyst(S) / Investor(S) Meet - Intimation 17 Sep ↗
- 15 Sep ’26Announcement Under Regulation 30 (LODR) - Analyst(S) / Investor(S) Meet - Intimation 15 Sep ↗
- 3 Sep ’26Polycab India announced investor/analyst meetings with JM Financial, IIFL Capital, and Ambit Capital on September 8-9, 2026. ↗
- 1 Sep ’26Disclosure of allotment of Equity shares pursuant to Employee Stock Options Scheme, 2018 of Polycab India Limited ↗
- 1 Sep ’26Polycab India to host one-on-one virtual meet with Schonfeld Strategic Advisors on September 4, 2026. ↗
Exchange filings, with the company's own one-line summary, read off the same page as the figures. Screener publishes only the most recent few, so this is the last 5 — not everything filed since your note, and a quiet-looking list is not proof of a quiet quarter. A filing is marked new when it is dated after the end of the quarter your note covers. Not scored, and not a judgement — a routine repayment notice and a takeover sit in the same list.
AI concall report · Q1 2027
The full earnings-call read behind this view — what management promised, what they delivered, and the earning trigger.
Growth Q1 2027
| Metric | This year vs lastYoY · vs Q1 2026 | vs the quarter beforeQoQ, sequential · vs Q4 2026 | 3-year yearly average3Y CAGR · compounded | 5-year yearly average5Y CAGR · compounded |
|---|---|---|---|---|
| Sales | ▲ +39.0% | −7.4% | +27.0% | +26.9% |
| Operating profit | ▲ +32.4% | −2.1% | +29.0% | +27.2% |
| EPS | ▲ +32.4% | +1.4% | +27.9% | +24.6% |
| PAT | ▲ +32.8% | +1.4% | — | — |
Tinted rows drive the Tier. Tier = the weaker of YoY Sales and YoY PAT growth. Here the weaker is PAT at +32.8%, which is ≥ 20% → Tier 1.
QoQ is sequential, not a trend. For most Indian companies the March quarter is seasonally the largest, so a June-quarter fall against it is a calendar effect. Only the YoY column feeds the Tier.
Multibagger potential
Average58/100
Cheap, and growing fast. Profit per share grew 28% a year, while the price-tag on its earnings actually got smaller. That gap — real growth nobody has paid up for — is exactly what this score looks for.
₹8,191 → ₹16,382 needs the P/E at 41× — it is 43× today, and has ranged 34× to 65× over the last 5 years. The rest would come from earnings growing as they have.
What you pay for its profitlog scale · 5-year range
Tripling needs 62× — it has traded there — high was 65×.
At ₹8,884 the price-tag on its earnings reaches the 47× it is being projected toward — the point where being cheap against that yardstick is used up.
De-rating while below every EMA — value-trap risk, not a coiled spring.
How this is calculated
This is arithmetic, not a forecast — Return = ΔEPS × ΔMultiple. It says what would have to be true, not how likely it is, and "earnings keep growing at this rate for three more years" is the assumption doing the most work. This is a mega-cap at ₹1,22,482 cr — size is the headwind here: a triple means the market finding ₹2,44,964 cr of new value.
Growth rate used: 27.9% — the weakest of EPS / Sales / Op-profit from 3-year EPS CAGR. Latest quarter reads 32%.
How it compares with its rivals Wires & Cables · 6 of 22 listed
These are the industry's largest names rather than companies of its own size, so the columns are worth reading straight across — a ranking against them would only be restating the size gap.
| Company | Price | P/E | Size | ROCE | Profitlast qtr | Saleslast qtr |
|---|---|---|---|---|---|---|
| Polycab India | ₹8,321 | 43.8× | ₹1.25 L Cr | 33.2% | +32.5% | +39.0% |
| KEI Industries | ₹4,564 | 43.7× | ₹43,633 Cr | 20.1% | +40.0% | +23.0% |
| R R Kabel | ₹2,423 | 44.8× | ₹27,405 Cr | 28.1% | +117.3% | +53.9% |
| Finolex Cables | ₹1,406 | 26.8× | ₹21,496 Cr | 16.0% | +53.1% | +44.3% |
| KSH Internationa | ₹1,041 | 53.9× | ₹7,056 Cr | 21.5% | +86.2% | +108.4% |
| V-Marc India | ₹345 | 43.2× | ₹5,058 Cr | 41.4% | +163.6% | +102.4% |
Screener's own peer group, from the request already made for the industry P/E. It serves the industry's largest names by market cap, not companies of a similar size, so treat this as context rather than a like-for-like table; this company is always shown. On a phone the price, size and sales columns are dropped rather than pushed off the edge. Not part of the score.
Business quality to Jun 2026
| Are the margins widening? | broadly flat | operating margin 14% → 14% over 3 years |
|---|---|---|
| Did the profit turn into cash? | most of it arrived as cash | 117% last year, 91% over three · free cash flow ₹2,340 cr, positive in 4 of 5 years |
| Is the growth borrowed? | essentially debt-free | ₹236 cr — 0.02× its own equity (was 0.02×) |
| Is it being collected? | collection is steady | 48 days to collect, up 6 in a year · cash cycle 39 days |
| Who has been buying? | the promoters have been selling | promoters 61.5% (−1.6 in a year), 65.9% → 61.5% over 2.8 years · FIIs 19.0% (+7.5) · DIIs 7.6% (−4.0) · shareholders 3,17,468 → 3,56,777 |
| What does it earn on its capital? | earns a high return on the capital it employs | ROCE 33.2% · ROE 23.0% |
Fetched from the filings, not typed — and deliberately not part of the score. These are the questions the score cannot ask: it reads growth, price and trend, so a company can score well while its profit never becomes cash. Weigh these beside the note, not against the number.
Screener's own checklist not mine, not the score
In its favour
- Company is almost debt free.
- Company is expected to give good quarter
- Company has delivered good profit growth of 23.7% CAGR over last 5 years
- Company has been maintaining a healthy dividend payout of 25.9%
- Company's median sales growth is 20.5% of last 10 years
- Company's working capital requirements have reduced from 47.5 days to 30.4 days
Against it
- Stock is trading at 10.4 times its book value
- Promoter holding has decreased over last 3 years: -4.53%
Generated by screener.in from a fixed checklist — not written by me and not an input to the score. It is here as a second machine opinion to weigh against the note; where it disagrees with the view above, the note is the considered one.