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Polycab
SectorCapital Goods
Polycab India Limited is India's largest manufacturer of wires and cables, and a growing player in the Fast Moving Electrical Goods (FMEG) space. The company produces a wide range of products including power cables, control cables, building wires, flexible cables, communication cables, and FMEG items such as electric fans, LED lighting, switches, and solar products. Polycab also operates in the Engineering, Procurement and Construction (EPC) sector, focusing on power distribution and rural electrification projects. The company has 28 manufacturing facilities across Gujarat, Maharashtra, Uttarakhand, and Daman. It maintains a extensive supply chain network of authorized dealers, distributors, and retailers throughout India, serving both institutional and government clients.
In the news
Polycab India gets buy rating, target Rs 10,600-11,040: Jefferies
Polycab's Q2 FY27: Strong Growth Amid Regulatory Headwinds
Polycab Q2 Results Beat Estimates Despite Competition Pressure
Polycab's ₹2.78 Crore Insolvency Scare: What Really Happened
9 Top Long-term Stock Picks: Bharti Airtel, Kotak Bank Lead List
Polycab India F&O Exclusion Takes Effect Today, Shares Fall 6%
NCLT Admits Asier Metals' Insolvency Case Against Polycab India
NSE Index Rebalancing: Winners, Losers, and the $1.2 Billion Shuffling Game
HDFC Bank Down 26% YTD Amid Governance Crisis, Q2 Results Due Oct 17
Polycab stock recovers 1.4% despite Ultravolt competition
Finolex Cables Hits 52-Week High, Jefferies Maintains Buy Rating
Polycab defends market share as UltraTvolt enters with ₹1,800 cr investment
Polycab India gets buy rating, target Rs 11,100: Broker retains rating
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BofA maintains bullish stance on Polycab, KEI amid UltraTech entry
India Q1 FY27 earnings: 19 sectors beat estimates, Nifty 50 delivers 18% PAT growth
Polycab India shares fall 2.09% to ₹9,081 despite strong Q1 growth
Polycab India shares rise 2% on strong Q1 results
The Quarter story
The two most recent quarterly results, compared side-by-side.
Polycab's growth and margins are back, but funding costs and EPC profitability lag.
Revenue has grown from ₹64,772 in Q2 FY26 to ₹98,989 in Q2 FY27 — top-line momentum is strong
Finance cost has risen from ₹484 in Q2 FY26 to ₹936 in Q2 FY27 — funding costs are rising
EBITDA margin has recovered from 12.7% in Q3 FY26 to 14.4% in Q2 FY27 — profitability is back on track
EPC EBIT margin has fallen from 18.1% in Q2 FY26 to 7.2% in Q2 FY27 — project profitability is weak
FMEG revenue has grown from ₹4,437 in Q2 FY26 to ₹9,931 in Q2 FY27 — the new segment is scaling fast
Total current liabilities have risen from ₹60,797 in Q2 FY26 to ₹1,00,408 in Q2 FY27 — short-term obligations are rising
Acceptances have risen from ₹29,779 in Q2 FY26 to ₹65,560 in Q2 FY27 — order momentum is strong
Investing cash flow has swung from ₹1,398 in Q2 FY26 to -₹6,688 in Q2 FY27 — cash is being deployed heavily
Net working capital days have fallen from 31 days in Q2 FY26 to 11 days in Q2 FY27 — cash is being used more efficiently
DII shareholding has fallen from 9% in Q2 FY26 to 5% in Q2 FY27 — domestic institutional holding is lower
Company insights, generated from the most recent coverage.
Polycab fell ~6% in two sessions to ₹8,207 and is exiting NSE's F&O segment — loss of derivative participation removes a liquidity/hedging layer and tends to amplify spot volatility on down days.
Polycab fell 4-5% on 13 Oct to an intraday low of ₹7,955 on the F&O exit news, and trades at ₹8,207 — about 19% below the ₹10,126 52-week high of 22 June 2026.
Post-Q2 results Polycab slid to ₹8,129.5 (-2.6%) despite beating the poll on every line, closing near ₹8,207 (-1.5%) — a clean case of price ignoring earnings.