NSEI:POLYCAB

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Executive Summary

Polycab India Limited manufactures and sells wires and cables, and fast moving electrical goods in India and internationally. More Details


Snowflake Analysis

Flawless balance sheet with proven track record.


Similar Companies

Share Price & News

How has Polycab India's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: POLYCAB is less volatile than 75% of Indian stocks over the past 3 months, typically moving +/- 4% a week.

Volatility Over Time: POLYCAB's weekly volatility (4%) has been stable over the past year.


Market Performance


7 Day Return

3.7%

POLYCAB

7.2%

IN Electrical

3.1%

IN Market


1 Year Return

-5.6%

POLYCAB

-2.5%

IN Electrical

10.4%

IN Market

Return vs Industry: POLYCAB underperformed the Indian Electrical industry which returned -2.5% over the past year.

Return vs Market: POLYCAB underperformed the Indian Market which returned 10.4% over the past year.


Shareholder returns

POLYCABIndustryMarket
7 Day3.7%7.2%3.1%
30 Day5.5%17.3%13.1%
90 Day13.1%17.2%12.8%
1 Year-4.9%-5.6%-0.06%-2.5%12.4%10.4%
3 Yearn/a-15.5%-19.8%11.0%5.6%
5 Yearn/a10.5%4.0%62.4%50.2%

Long-Term Price Volatility Vs. Market

How volatile is Polycab India's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Polycab India undervalued compared to its fair value and its price relative to the market?

18.9x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: POLYCAB (₹978.95) is trading above our estimate of fair value (₹342.23)

Significantly Below Fair Value: POLYCAB is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: POLYCAB is good value based on its PE Ratio (18.9x) compared to the IN Electrical industry average (20.1x).

PE vs Market: POLYCAB is poor value based on its PE Ratio (18.9x) compared to the Indian market (17.2x).


Price to Earnings Growth Ratio

PEG Ratio: POLYCAB is poor value based on its PEG Ratio (2x)


Price to Book Ratio

PB vs Industry: POLYCAB is overvalued based on its PB Ratio (3.5x) compared to the IN Electrical industry average (0.9x).


Next Steps

Future Growth

How is Polycab India forecast to perform in the next 1 to 3 years based on estimates from 12 analysts?

9.7%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: POLYCAB's forecast earnings growth (9.7% per year) is above the savings rate (7.2%).

Earnings vs Market: POLYCAB's earnings (9.7% per year) are forecast to grow slower than the Indian market (24.5% per year).

High Growth Earnings: POLYCAB's earnings are forecast to grow, but not significantly.

Revenue vs Market: POLYCAB's revenue (13% per year) is forecast to grow faster than the Indian market (11.5% per year).

High Growth Revenue: POLYCAB's revenue (13% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: POLYCAB's Return on Equity is forecast to be low in 3 years time (16%).


Next Steps

Past Performance

How has Polycab India performed over the past 5 years?

26.7%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: POLYCAB has high quality earnings.

Growing Profit Margin: POLYCAB's current net profit margins (10%) are higher than last year (7.6%).


Past Earnings Growth Analysis

Earnings Trend: POLYCAB's earnings have grown significantly by 26.7% per year over the past 5 years.

Accelerating Growth: POLYCAB's earnings growth over the past year (16.7%) is below its 5-year average (26.7% per year).

Earnings vs Industry: POLYCAB earnings growth over the past year (16.7%) exceeded the Electrical industry -17.4%.


Return on Equity

High ROE: POLYCAB's Return on Equity (18.3%) is considered low.


Next Steps

Financial Health

How is Polycab India's financial position?


Financial Position Analysis

Short Term Liabilities: POLYCAB's short term assets (₹43.0B) exceed its short term liabilities (₹19.6B).

Long Term Liabilities: POLYCAB's short term assets (₹43.0B) exceed its long term liabilities (₹2.7B).


Debt to Equity History and Analysis

Debt Level: POLYCAB's debt to equity ratio (6.4%) is considered satisfactory.

Reducing Debt: POLYCAB's debt to equity ratio has reduced from 39.3% to 6.4% over the past 5 years.

Debt Coverage: POLYCAB's debt is well covered by operating cash flow (287%).

Interest Coverage: POLYCAB earns more interest than it pays, so coverage of interest payments is not a concern.


Balance Sheet


Next Steps

Dividend

What is Polycab India current dividend yield, its reliability and sustainability?

0.72%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: POLYCAB's dividend (0.72%) is higher than the bottom 25% of dividend payers in the Indian market (0.51%).

High Dividend: POLYCAB's dividend (0.72%) is low compared to the top 25% of dividend payers in the Indian market (2.07%).


Stability and Growth of Payments

Stable Dividend: Whilst dividend payments have been stable, POLYCAB has been paying a dividend for less than 10 years.

Growing Dividend: POLYCAB's dividend payments have increased, but the company has only paid a dividend for 2 years.


Current Payout to Shareholders

Dividend Coverage: With its low payout ratio (13.5%), POLYCAB's dividend payments are thoroughly covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: POLYCAB's dividends in 3 years are forecast to be thoroughly covered by earnings (13.8% payout ratio).


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

2.2yrs

Average management tenure


CEO

Inder Jaisinghani (66 yo)

1.33yrs

Tenure

₹115,130,000

Compensation

Mr. Inder T. Jaisinghani has been Chairman of the Board at Polycab India Limited since December 20, 1997 and has been its Managing Director since August 28, 2019. He has been working with Polycab India Lim...


CEO Compensation Analysis

Compensation vs Market: Inder's total compensation ($USD1.56M) is above average for companies of similar size in the Indian market ($USD561.76K).

Compensation vs Earnings: Inder's compensation has increased by more than 20% in the past year.


Leadership Team

NamePositionTenureCompensationOwnership
Inder Jaisinghani
Chairman & MD1.33yrs₹115.13m28.71%
₹ 41.4b
Sai Narayana
Compliance Officer & Company Secretaryno data₹4.71m0%
₹ 0
Ajay Jaisinghani
Whole-Time Director14.67yrs₹31.15m14.27%
₹ 20.6b
Ramesh Jaisinghani
Whole-Time Director24.92yrs₹31.15m12.65%
₹ 18.2b
Shyam Bajaj
Whole-Time Director4yrs₹39.41m0.015%
₹ 22.0m
Gandharv Tongia
Chief Financial Officer0.58yrno datano data
Vivek Khanna
President of Accounts & Information Technology and Chief Information Officer2.17yrsno datano data
Shashank Pore
Chief Marketing Officerno datano datano data
Suresh Kumar
President of Strategy & Human Resourcesno datano data0.00067%
₹ 965.6k
Anil Kumar
President of EPC and Customer Approvalsno datano data0.0029%
₹ 4.2m
Radhakrishna Adyanthaya
President of Fans and Chief Operating Officer of Fansno datano datano data
Bharat Jaisinghani
Director of FMEG Businessno datano data3.67%
₹ 5.3b

2.2yrs

Average Tenure

64.5yo

Average Age

Experienced Management: POLYCAB's management team is considered experienced (2.2 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Inder Jaisinghani
Chairman & MD1.33yrs₹115.13m28.71%
₹ 41.4b
Ajay Jaisinghani
Whole-Time Director14.67yrs₹31.15m14.27%
₹ 20.6b
Ramesh Jaisinghani
Whole-Time Director24.92yrs₹31.15m12.65%
₹ 18.2b
Shyam Bajaj
Whole-Time Director4yrs₹39.41m0.015%
₹ 22.0m
Radhey Sharma
Non-Executive & Independent Director2.25yrs₹3.06mno data
Pradeep Poddar
Non-Executive & Independent Director2.25yrs₹3.06mno data
Hiroo Mirchandani
Non-Executive & Independent Director2.25yrs₹2.90mno data
Tilokchand Ostwal
Non-Executive & Independent Director2.25yrs₹3.14mno data

3.1yrs

Average Tenure

66yo

Average Age

Experienced Board: POLYCAB's board of directors are considered experienced (3.1 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: POLYCAB insiders have only sold shares in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Polycab India Limited's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Polycab India Limited
  • Ticker: POLYCAB
  • Exchange: NSEI
  • Founded: 1996
  • Industry: Electrical Components and Equipment
  • Sector: Capital Goods
  • Market Cap: ₹144.123b
  • Shares outstanding: 149.06m
  • Website: https://polycab.com

Number of Employees


Location

  • Polycab India Limited
  • Polycab House
  • 771, Mogul Lane
  • Mumbai
  • Maharashtra
  • 400016
  • India

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
542652BSE (Mumbai Stock Exchange)YesEquity SharesININRApr 2019
POLYCABNSEI (National Stock Exchange of India)YesEquity SharesININRApr 2019

Biography

Polycab India Limited manufactures and sells wires and cables, and fast moving electrical goods in India and internationally. The company offers power, control, instrumentation, solar, flexible, flexible/s...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/12/03 12:11
End of Day Share Price2020/12/03 00:00
Earnings2020/09/30
Annual Earnings2020/03/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.