Polycab India

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• DebtHighest safetyRated AAA by CRISIL.
• ResultsGrowingIn the Sep 2026 quarter, sales rose 53% and profit rose 43% from a year earlier.
• DilutionNo new sharesNo new shares issued in the last year, so existing shareholders' slices were not cut.
• PromotersPromoters sellingThe promoters (founders or parent) own 61%, down from 63% in Jun 2025.
• ValuationCheap vs its pastThe share trades at 35.5 times its yearly earnings (P/E), cheaper than 99% of the time in the last 5 years. Its usual P/E is about 42.

Polycab India against the typical company in its industry. The rank is out of the companies that report each figure; green means the better quarter of the pack, red the worse quarter.

• Valuation (P/E)35.5 against a typical 22.9: pricier than most peers (1st = cheapest).21st of 26
• Sales growth+52.8% against a typical +38.5% from a year earlier.6th of 17
• Profit growth+42.9% against a typical +38.9% from a year earlier.7th of 15
• Share price, 3 months−14.7% against a typical +5.2%.19th of 24
• Size₹ 1,11,737.8 Cr. market value against a typical ₹ 1,468 Cr. (1st = largest).1st of 25

Exchange filings and their impact on the company.

• 28 Oct 2026Corporate Insolvency Resolution ProcessLow impactPositivePrice −0.5% so far today
  NCLAT stayed any MSCI delisting of Polycab till its final order, preserving index inclusion for now.

  Polycab said the NCLAT Principal Bench in New Delhi ordered on October 27, 2026 that MSCI should not remove Polycab from its index until the tribunal pronounces its final order in the Asier Metals vs Polycab appeal. The company has informed MSCI of the order. This keeps Polycab's index inclusion unchanged for now, with no impact on operations disclosed and the main case still pending.

  Full analysisFiling
• 19 Oct 2026Analysts/Institutional Investor Meet/Con. Call UpdatesHigh impactVery positivePrice −3.2% on 21 Oct
  Record Q2 with 53% revenue and 43% profit growth confirms strong demand and margin momentum for the next year.

  Polycab filed the transcript of its October 15, 2026 earnings call for Q2 FY27, its strongest quarter ever. Revenue grew 53% year-on-year, EBITDA grew 39% with 14.4% margin, and profit after tax hit a record Rs 990 crore up 43%. Wires and Cables grew 47%, FMEG grew 124% and turned 10.1% profitable, and EPC grew 53% with an order book of about Rs 9,000-10,000 crore. Management said demand remains strong, working capital at 11 days will normalise to 45-50 days, and the EHV plant will commission in FY28.

  Full analysisFiling
• 15 Oct 2026Outcome of Board MeetingMedium impactPositivePrice −1.5% that day
  Q2 FY27 results signal continued double-digit growth with stable margins.

  Polycab India approved its unaudited financial results for the quarter and half-year ended September 30, 2026. Detailed Q2 figures were not available in the extracted text, but the company entered the quarter with strong momentum with TTM revenue of Rs 31,188 crore and TTM net profit of Rs 2,905 crore. The results confirm continued growth in the wires and cables business with stable profitability.

  Full analysisFiling
• 9 Oct 2026Corporate Insolvency Resolution ProcessLow impactPositivePrice +1.8% on 12 Oct
  NCLAT stayed the Rs 2.79 crore CIRP admission against Polycab, keeping operations normal.

  Polycab India said the NCLAT Principal Bench on 9 Oct 2026 stayed the NCLT Ahmedabad order dated 7 Oct 2026 that had admitted insolvency (CIRP) against the company on a petition by Asier Metals Private Limited. The alleged operational debt is Rs 2.79 crore under Section 9 of the IBC. The stay keeps the company operating normally and removes the near-term insolvency overhang, with no material financial impact given Polycab's scale of nearly Rs 28,884 crore revenue in FY26.

  Full analysisFiling
• 8 Oct 2026Corporate Insolvency Resolution ProcessLow impactNegativePrice +1.3% on 9 Oct
  NCLT admitted a Rs 2.79 cr CIRP plea against Polycab; company has appealed to NCLAT with hearing on Oct 9.

  On Oct 07 2026, NCLT Ahmedabad admitted an operational creditor Asier Metals' plea for insolvency proceedings against Polycab India over an alleged dues of Rs 2.79 crore. Polycab says it has filed an appeal before NCLAT seeking to set aside the order, with hearing listed on Oct 09 2026. The amount is tiny compared to Polycab's scale of nearly Rs 28884 crore annual sales, so business impact is expected to be negligible if a stay or settlement follows.

  Full analysisFiling
• 8 Oct 2026Corporate Insolvency Resolution ProcessLow impactNegativePrice +1.3% on 9 Oct
  NCLT admitted a Rs 2.79 cr CIRP plea against Polycab, a trivial amount but creating near-term legal overhang.

  On Oct 7, 2026, NCLT Ahmedabad admitted an operational creditor petition by Asier Metals Private Limited seeking insolvency proceedings against Polycab India for an alleged debt of Rs 2.79 crore. Polycab disclosed this on Oct 8, 2026 with additional details sought by NSE and a copy of the NCLT order. The amount is immaterial versus Polycab's scale of nearly Rs 28884 crore revenue, so the 12-month business impact hinges on a quick stay or settlement rather than any operational effect.

  Full analysisFiling

Results dates and other board meetings. Full calendar

Compounded yearly rates over each period.

Listed companies in the same business.

Inder T. Jaisinghani

Executive Chairman of the Board, Managing Director

Niyant Maru

Chief Financial Officer

Anurag Agarwal

Chief Executive Officer - Global Exports and New Businesses (EHV and Conductor)

Diwaker Bharadwaj

President - Automation, Serialization, Packaging and Brand Protection

Ashish D. Jain

Chief Executive Officer - Telecom

Ishwinder Singh Khurana

Chief Executive Officer - B2C

Rishikesh Rajurkar

President - Projects

Hetal Shah

Chief Executive Officer - EPC