Polycab India

₹7136.2 46 | 0.6%

WEBSITE BSE:542652 NSE : POLYCAB 26 Dec, 16:01

Market Cap ₹107342 Cr.

Stock P/E 59.5

P/B 12.6

Current Price ₹7136.2

Book Value ₹ 567.5

Face Value 10

52W High ₹7607.2

Dividend Yield 0.42%

52W Low ₹ 3812.4

Edit Ratio

Polycab India Research see more...

Polycab India Limited (A Q1FY24 Result Analysis)

Equity Research: Polycab India Ltd.

Polycab India: A Rising Giant

Overview Inc. Year: 1996Industry: Cable

Polycab India Ltd manufactures and sells wires and cables below the POLYCAB brand in India and over the world. The enterprise gives power, control, shielded, flexible, instrumentation, solar, communication, telecom, and optical fiber cables, in addition to constructing wires; and other cables, including welding cables, submersible flat and round cables, rubber cables, overhead conductors, railway signaling cables, distinctiveness cables. It also provides ceiling, desk, pedestal, wall, exhaust, as well as air circulators; lighting solutions and luminaires for roads, bridges, gardens, jogging and walking tracks, smart automation solutions; switches and add-ons; switchgears; green wires, solar inverters, inverter cables, DC MCB, solar DC cables and connectors, and solar panels; conduits and accessories; pumps; and water heaters, irons, and coolers. In addition, the company engages inside the design, engineering, supply, execution, and commissioning of power distribution, transmission, and rural electrification tasks. The business enterprise serves chemical substances, consumer durables, defense, electricity, infrastructure, production, metals, oil and gasoline, real estate, technology, telelcom, and delivery industries. It operates a distribution community of 4100 legal dealers and vendors; and 165,000 retail outlets. Polycab India Ltd established in 1996 and is based in Mumbai, India.

Polycab India Share Price

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Peer Comparison

Polycab India Quarterly Results

#(Fig in Cr.)
Net Sales
Other Income
Total Income
Total Expenditure
Operating Profit
Interest
Depreciation
Exceptional Income / Expenses
Profit Before Tax
Provision for Tax
Profit After Tax
Adjustments
Profit After Adjustments
Adjusted Earnings Per Share

Polycab India Profit & Loss

#(Fig in Cr.)	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Net Sales	3842	4322	5187	5500	6759	7940	8807	8736	12098	13914	18051
Other Income	-16	27	12	75	67	64	93	125	106	139	220
Total Income	3826	4349	5200	5575	6826	8004	8900	8861	12204	14052	18271
Total Expenditure	3525	3926	4700	5023	6035	6992	7690	7651	10873	12106	15614
Operating Profit	302	423	500	552	791	1012	1210	1211	1330	1947	2656
Interest	95	105	116	65	92	116	48	41	33	56	100
Depreciation	63	89	111	127	132	140	159	174	197	206	237
Exceptional Income / Expenses	0	0	0	0	0	0	0	0	124	0	0
Profit Before Tax	145	229	272	360	567	757	1003	995	1225	1685	2319
Provision for Tax	52	79	83	128	208	255	243	164	294	416	549
Profit After Tax	93	150	190	232	358	501	761	831	931	1269	1770
Adjustments	0	0	0	0	0	0	0	0	0	0	0
Profit After Adjustments	93	150	190	232	358	501	761	831	931	1269	1770
Adjusted Earnings Per Share	6.6	10.6	13.4	16.4	25.4	35.5	51.1	55.7	62.3	84.7	117.8

Growth Rates

#	1 Year	3 Year	5 Year	10 Year
Sales CAGR	30%	27%	18%	17%
Operating Profit CAGR	36%	30%	21%	24%
PAT CAGR	39%	29%	29%	34%

#	1 Year	3 Year	5 Year	10 Year
Share Price CAGR	32%	44%	49%	NA%
ROE Average	24%	21%	21%	17%
ROCE Average	33%	29%	28%	23%

Polycab India Balance Sheet

#(Fig in Cr.)	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Shareholder's Funds	1362	1493	1782	1994	2348	2849	3840	4707	5521	6605	8144
Minority's Interest	0	0	0	0	0	0	0	0	0	0	0
Borrowings	0	0	99	154	152	79	3	0	0	0	0
Other Non-Current Liabilities	30	26	40	94	83	65	90	102	94	125	182
Total Current Liabilities	1185	1600	1933	2293	1841	2603	1995	1918	1692	2496	3431
Total Liabilities	2577	3118	3855	4535	4424	5595	5928	6727	7307	9227	11758
Fixed Assets	698	773	984	1113	1180	1255	1395	1581	1619	2026	2199
Other Non-Current Assets	257	245	238	348	329	433	508	429	622	461	1047
Total Current Assets	1623	2100	2632	3074	2914	3907	4025	4718	5067	6740	8512
Total Assets	2577	3118	3855	4535	4424	5595	5928	6727	7307	9227	11758

Polycab India Cash Flow

#(Fig in Cr.)	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Opening Cash & Cash Equivalents	14	14	16	26	21	7	178	170	197	114	122
Cash Flow from Operating Activities	339	207	190	283	352	1224	234	1175	461	1452	1292
Cash Flow from Investing Activities	-134	-176	-251	-269	-178	-396	-257	-1038	-360	-1188	-762
Cash Flow from Financing Activities	-205	-37	72	-19	-189	-657	16	-110	-185	-256	-396
Net Cash Inflow / Outflow	0	-6	10	-5	-15	171	-8	27	-84	8	133
Closing Cash & Cash Equivalent	14	8	26	21	7	178	170	197	114	122	255

Polycab India Ratios

#	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Earnings Per Share (Rs)	6.6	10.63	13.44	16.44	25.38	35.51	51.11	55.75	62.32	84.73	117.79
CEPS(Rs)	11.03	16.9	21.31	25.46	34.73	45.43	61.8	67.42	75.47	98.47	133.58
DPS(Rs)	1	1.5	1.75	1	1	3	7	10	14	20	30
Book NAV/Share(Rs)	96.47	105.71	126.19	141.21	166.27	200.7	256.14	313.71	367.08	438.94	537.43
Core EBITDA Margin(%)	7.48	8.42	8.52	7.89	10.49	11.95	12.68	12.43	10.12	12.99	13.5
EBIT Margin(%)	5.63	7.12	6.79	7.03	9.55	10.99	11.94	11.87	10.4	12.51	13.4
Pre Tax Margin(%)	3.41	4.88	4.76	5.95	8.21	9.53	11.39	11.39	10.12	12.11	12.85
PAT Margin (%)	2.2	3.19	3.32	3.84	5.19	6.32	8.64	9.52	7.7	9.12	9.8
Cash Profit Margin (%)	3.67	5.08	5.26	5.95	7.1	8.08	10.45	11.51	9.32	10.6	11.12
ROA(%)	3.6	5.27	5.44	5.53	8	10.01	13.21	13.14	13.27	15.35	16.87
ROE(%)	7.02	10.51	11.59	12.29	16.51	19.35	22.89	19.58	18.33	21.05	24.16
ROCE(%)	13.13	17.47	16.9	15.69	22.06	27.94	29.64	23.6	24.21	28.54	32.8
Receivable days	78	66.37	71.17	76.14	65.14	60.51	57.63	59.97	41.09	32.97	35.59
Inventory Days	51.03	57.38	59.97	75.39	75.97	76.68	80.54	80.58	61.83	65.77	61.88
Payable days	75.97	87.96	98.23	109.39	67.35	38.16	38.34	34.63	24.33	24.29	24.86
PER(x)	0	0	0	0	0	0	14.52	24.76	37.95	33.97	43.01
Price/Book(x)	0	0	0	0	0	0	2.9	4.4	6.44	6.56	9.43
Dividend Yield(%)	0	0	0	0	0	0	0.94	0.72	0.59	0.69	0.59
EV/Net Sales(x)	0.13	0.15	0.17	0.17	0.14	0.01	1.24	2.31	2.9	3.05	4.2
EV/Core EBITDA(x)	1.62	1.56	1.78	1.73	1.16	0.08	9.02	16.67	26.33	21.81	28.54
Net Sales Growth(%)	3.3	12.48	20.02	6.03	22.88	17.48	10.92	-0.8	38.48	15.01	29.74
EBIT Growth(%)	1.06	39.72	16.18	9.36	55.11	32.38	20.52	-1.41	21.39	38.38	38.94
PAT Growth(%)	21.26	60.92	26.45	22.33	54.41	39.92	51.75	9.25	12.02	36.27	39.45
EPS Growth(%)	21.26	60.91	26.45	22.34	54.41	39.92	43.93	9.07	11.78	35.97	39.02
Debt/Equity(x)	0.33	0.35	0.45	0.42	0.34	0.09	0.04	0.02	0.01	0	0
Current Ratio(x)	1.37	1.31	1.36	1.34	1.58	1.5	2.02	2.46	2.99	2.7	2.48
Quick Ratio(x)	0.88	0.75	0.85	0.68	0.85	0.74	1.06	1.44	1.73	1.55	1.53
Interest Cover(x)	2.53	3.19	3.35	6.51	7.15	7.54	21.95	25.21	37.65	31.05	24.09
Total Debt/Mcap(x)	0	0	0	0	0	0	0.01	0	0	0	0

Polycab India Shareholding Pattern

#	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024
Promoter	67.99	67.97	66.61	66.2	65.99	65.91	65.79	65.24	65.02	63.06
FII	5.71	6.44	8.11	9.77	9.64	12.4	13.41	11.94	13.62	13.48
DII	9.03	10.36	10.12	9.36	9.76	8.1	7.62	7.23	6.94	9.36
Public	17.27	15.23	15.15	14.67	14.61	13.59	13.18	15.58	14.42	14.11
Others	0	0	0	0	0	0	0	0	0	0
Total	100	100	100	100	100	100	100	100	100	100

#	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024
Promoter	10.17	10.17	9.97	9.91	9.89	9.89	9.88	9.8	9.78	9.48
FII	0.85	0.96	1.21	1.46	1.45	1.86	2.01	1.79	2.05	2.03
DII	1.35	1.55	1.52	1.4	1.46	1.22	1.14	1.09	1.04	1.41
Public	2.58	2.28	2.27	2.2	2.19	2.04	1.98	2.34	2.17	2.12
Others	0	0	0	0	0	0	0	0	0	0
Total	14.96	14.97	14.97	14.98	14.99	15	15.02	15.02	15.03	15.04

Pros

Company has delivered good profit growth of 28% CAGR over last 5 years
Company has a good return on equity (ROE) track record: 3 Years ROE 21%
Company is almost debt free.

Cons

Debtor days have increased from 24.29 to 24.86days.
Stock is trading at 12.6 times its book value.

* 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.

Polycab India News

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Polycab India

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Polycab India Research see more...

Overview Inc. Year: 1996Industry: Cable

Polycab India Share Price

Alert Data

Quarterly Price

Peer Comparison

Polycab India Quarterly Results

Polycab India Profit & Loss

Growth Rates

Polycab India Balance Sheet

Polycab India Cash Flow

Polycab India Ratios

Polycab India Shareholding Pattern

Polycab India News

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