Reported Earnings • Jul 17
First quarter 2027 earnings: EPS and revenues exceed analyst expectations First quarter 2027 results: EPS: ₹52.09 (up from ₹39.36 in 1Q 2026). Revenue: ₹82.1b (up 39% from 1Q 2026). Net income: ₹7.84b (up 33% from 1Q 2026). Profit margin: 9.6% (in line with 1Q 2026). Revenue exceeded analyst estimates by 4.7%. Earnings per share (EPS) also surpassed analyst estimates by 13%. Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 18% growth forecast for the Electrical industry in India. Over the last 3 years on average, earnings per share has increased by 22% per year whereas the company’s share price has increased by 25% per year. Duyuru • Jul 07
Polycab India Limited to Report Q1, 2027 Results on Jul 16, 2026 Polycab India Limited announced that they will report Q1, 2027 results on Jul 16, 2026 Declared Dividend • Jun 11
Dividend increased to ₹47.00 Dividend of ₹47.00 is 34% higher than last year. Ex-date: 19th June 2026 Payment date: 29th July 2026 Dividend yield will be 0.5%, which is higher than the industry average of 0.4%. Sustainability & Growth Dividend is well covered by both earnings (26% earnings payout ratio) and cash flows (30% cash payout ratio). The dividend has increased by an average of 48% per year over the past 7 years and payments have been stable during that time. EPS is expected to grow by 49% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Duyuru • Jun 10
Polycab India Limited announces Annual dividend, payable on July 29, 2026 Polycab India Limited announced Annual dividend of INR 47.0000 per share payable on July 29, 2026, ex-date on June 19, 2026 and record date on June 19, 2026. Duyuru • Jun 01
Polycab India Limited, Annual General Meeting, Jun 30, 2026 Polycab India Limited, Annual General Meeting, Jun 30, 2026, at 09:00 Indian Standard Time. Price Target Changed • May 11
Price target increased by 7.1% to ₹9,170 Up from ₹8,565, the current price target is an average from 31 analysts. New target price is approximately in line with last closing price of ₹9,064. Stock is up 51% over the past year. The company is forecast to post earnings per share of ₹209 for next year compared to ₹178 last year. Reported Earnings • May 07
Full year 2026 earnings: EPS in line with analyst expectations despite revenue beat Full year 2026 results: EPS: ₹178 (up from ₹134 in FY 2025). Revenue: ₹288.8b (up 29% from FY 2025). Net income: ₹26.7b (up 32% from FY 2025). Profit margin: 9.3% (up from 9.0% in FY 2025). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.1%. Earnings per share (EPS) were mostly in line with analyst estimates. Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 19% growth forecast for the Electrical industry in India. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has increased by 41% per year, which means it is tracking significantly ahead of earnings growth. Duyuru • Apr 24
Polycab India Limited to Report Q4, 2026 Results on May 06, 2026 Polycab India Limited announced that they will report Q4, 2026 results at 12:08 PM, Indian Standard Time on May 06, 2026 Valuation Update With 7 Day Price Move • Mar 13
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ₹7,203, the stock trades at a forward P/E ratio of 36x. Average forward P/E is 35x in the Electrical industry in India. Total returns to shareholders of 154% over the past three years. Duyuru • Feb 17
Polycab India Limited Appoints Gyan Pandey as Executive President and Chief Digital & Information Officer, Effective February 16, 2026 Polycab India Limited has appointed Mr. Gyan Pandey as Executive President and Chief Digital & Information Officer effective February 16, 2026. Mr. Gyan Pandey, aged 57 years, has completed his Bachelor of Commerce (Hons.) from University of Calcutta and has obtained various management certifications from IIM-B and IIM-C. Mr. Gyan Pandey’s professional journey includes leadership roles across prominent organizations like Voltas, Aurobindo Pharma and Oracle. He is having more than 25 years of experience in Information and Technology and his work areas include driving enterprise-level digital strategies, IoT-led manufacturing initiatives, data-driven platforms, scalable AI/Gen AI adoption for business cases. He will oversee the functioning and initiatives of Digital, IT and cybersecurity functions. Reported Earnings • Jan 17
Third quarter 2026 earnings: Revenues exceed analysts expectations while EPS lags behind Third quarter 2026 results: EPS: ₹41.30 (up from ₹30.42 in 3Q 2025). Revenue: ₹76.4b (up 46% from 3Q 2025). Net income: ₹6.22b (up 36% from 3Q 2025). Profit margin: 8.1% (down from 8.8% in 3Q 2025). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 15%. Earnings per share (EPS) missed analyst estimates by 6.2%. Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 20% growth forecast for the Electrical industry in India. Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has increased by 37% per year, which means it is tracking significantly ahead of earnings growth. Duyuru • Jan 05
Polycab India Limited Appoints Shashi Amin as Director (Non-Board Member) and CEO - B2B Channel & Corporate Communication, Effective January 5, 2026 Polycab India Limited appointed Mr. Shashi Amin as Director (Non-Board Member) and CEO - B2B Channel & Corporate Communication, effective from January 5, 2026. Mr. Shashi, aged 58 years, has completed his Bachelor of Technology (Electrical Power System) from Amravati University and Master’s in Marketing Management from Welingkar Institute of Management, Mumbai. Mr. Shashi professional journey includes leadership roles across prominent organizations like Apar Industries Limited, BICC Bahrain and Nicco Corporation Limited. Prior to Apar Industries Limited, Mr. Shashi was associated with Polycab India Limited (July 2011 to March 2022) as President and SBU Head Cables. He is having more than 37 years of experience in Sales & Marketing, Business development and P&L Management in cable industry. This appointment follows the resignation of Mr. Bhushan Sawhney (Executive President and Chief Business Officer - B2B) on February 3, 2025, due to personal reasons, with his cessation from the Company effective from May 2, 2025. Duyuru • Jan 04
Polycab India Limited to Report Q3, 2026 Results on Jan 16, 2026 Polycab India Limited announced that they will report Q3, 2026 results on Jan 16, 2026 Reported Earnings • Oct 19
Second quarter 2026 earnings: EPS exceeds analyst expectations Second quarter 2026 results: EPS: ₹45.54 (up from ₹29.25 in 2Q 2025). Revenue: ₹64.8b (up 18% from 2Q 2025). Net income: ₹6.85b (up 56% from 2Q 2025). Profit margin: 11% (up from 8.0% in 2Q 2025). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 13%. Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 19% growth forecast for the Electrical industry in India. Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has increased by 40% per year, which means it is tracking significantly ahead of earnings growth. Duyuru • Oct 03
Polycab India Limited to Report Q2, 2026 Results on Oct 17, 2025 Polycab India Limited announced that they will report Q2, 2026 results on Oct 17, 2025 Price Target Changed • Jul 21
Price target increased by 7.5% to ₹7,398 Up from ₹6,885, the current price target is an average from 30 analysts. New target price is 5.1% above last closing price of ₹7,040. Stock is up 12% over the past year. The company is forecast to post earnings per share of ₹168 for next year compared to ₹134 last year. Reported Earnings • Jul 18
First quarter 2026 earnings: EPS and revenues exceed analyst expectations First quarter 2026 results: EPS: ₹39.36 (up from ₹26.35 in 1Q 2025). Revenue: ₹59.1b (up 26% from 1Q 2025). Net income: ₹5.92b (up 50% from 1Q 2025). Profit margin: 10.0% (up from 8.4% in 1Q 2025). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 4.7%. Earnings per share (EPS) also surpassed analyst estimates by 13%. Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 19% growth forecast for the Electrical industry in India. Over the last 3 years on average, earnings per share has increased by 24% per year but the company’s share price has increased by 46% per year, which means it is tracking significantly ahead of earnings growth. Duyuru • Jun 30
Polycab India Limited to Report Q1, 2026 Results on Jul 17, 2025 Polycab India Limited announced that they will report Q1, 2026 results on Jul 17, 2025 Upcoming Dividend • Jun 17
Upcoming dividend of ₹35.00 per share Eligible shareholders must have bought the stock before 24 June 2025. Payment date: 31 July 2025. Payout ratio is a comfortable 26% and this is well supported by cash flows. Trailing yield: 0.6%. Lower than top quartile of Indian dividend payers (1.2%). Higher than average of industry peers (0.4%). Duyuru • Jun 11
Polycab India Limited announces Annual dividend, payable on July 31, 2025 Polycab India Limited announced Annual dividend of INR 35.0000 per share payable on July 31, 2025, ex-date on June 24, 2025 and record date on June 24, 2025. Duyuru • Jun 02
Polycab India Limited, Annual General Meeting, Jul 01, 2025 Polycab India Limited, Annual General Meeting, Jul 01, 2025, at 09:00 Indian Standard Time. Reported Earnings • May 09
Full year 2025 earnings: EPS and revenues exceed analyst expectations Full year 2025 results: EPS: ₹134 (up from ₹119 in FY 2024). Revenue: ₹224.1b (up 24% from FY 2024). Net income: ₹20.2b (up 13% from FY 2024). Profit margin: 9.0% (in line with FY 2024). Revenue exceeded analyst estimates by 1.9%. Earnings per share (EPS) also surpassed analyst estimates by 5.0%. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 21% growth forecast for the Electrical industry in India. Over the last 3 years on average, earnings per share has increased by 26% per year whereas the company’s share price has increased by 31% per year. Duyuru • Apr 14
Polycab India Limited to Report Q4, 2025 Results on May 06, 2025 Polycab India Limited announced that they will report Q4, 2025 results on May 06, 2025 Valuation Update With 7 Day Price Move • Feb 27
Investor sentiment deteriorates as stock falls 19% After last week's 19% share price decline to ₹4,674, the stock trades at a forward P/E ratio of 31x. Average forward P/E is 34x in the Electrical industry in India. Total returns to shareholders of 105% over the past three years. Duyuru • Feb 03
Polycab India Limited Announces Resignation of Bhushan Sawhney as Executive President and Chief Business Officer- B2b, Effective on or Before 2 May 2025 Polycab India Limited announced resignation of Mr. Bhushan Sawhney as Executive President and Chief Business Officer- B2B due to personal reasons on 3 February, 2025. Date of cessation is on or before 2 May 2025. Board Change • Feb 01
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Director Sumit Malhotra was the last director to join the board, commencing their role in 2025. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Duyuru • Dec 27
Polycab India Limited to Report Q3, 2025 Results on Jan 22, 2025 Polycab India Limited announced that they will report Q3, 2025 results on Jan 22, 2025 Reported Earnings • Oct 18
Second quarter 2025 earnings: Revenues exceed analysts expectations while EPS lags behind Second quarter 2025 results: EPS: ₹29.25 (up from ₹28.38 in 2Q 2024). Revenue: ₹55.7b (up 32% from 2Q 2024). Net income: ₹4.40b (up 3.3% from 2Q 2024). Profit margin: 7.9% (down from 10% in 2Q 2024). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 4.3%. Earnings per share (EPS) missed analyst estimates by 1.0%. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 21% growth forecast for the Electrical industry in India. Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has increased by 47% per year, which means it is tracking significantly ahead of earnings growth. Duyuru • Aug 02
Polycab India Limited Announces Redesignation of Mr. Sanjeev Chhabra as Executive President and Chief Procurement Officer Polycab India Limited announced Mr. Sanjeev Chhabra, redesignated as Executive President and Chief Procurement Officer. Reason for change: Change in roles and responsibilities. Date of Redesignated on August 1, 2024. Duyuru • Jul 17
Polycab India Limited Approves Dividend for the Year Ended March 31, 2024 Polycab India Limited announced that at its AGM held on July 16, 2024, shareholders approved the dividend of 300% i.e. INR 30 per equity share of face value of INR 10 for the financial year ended March 31, 2024. Duyuru • Jul 04
Polycab India Limited to Report Q1, 2025 Results on Jul 18, 2024 Polycab India Limited announced that they will report Q1, 2025 results on Jul 18, 2024 Upcoming Dividend • Jul 02
Upcoming dividend of ₹30.00 per share Eligible shareholders must have bought the stock before 09 July 2024. Payment date: 15 August 2024. Payout ratio is a comfortable 25% and this is well supported by cash flows. Trailing yield: 0.5%. Lower than top quartile of Indian dividend payers (1.1%). Higher than average of industry peers (0.3%). Reported Earnings • Jun 25
Full year 2024 earnings: EPS and revenues exceed analyst expectations Full year 2024 results: EPS: ₹119 (up from ₹84.93 in FY 2023). Revenue: ₹180.4b (up 28% from FY 2023). Net income: ₹17.8b (up 40% from FY 2023). Profit margin: 9.9% (in line with FY 2023). Revenue exceeded analyst estimates by 3.4%. Earnings per share (EPS) also surpassed analyst estimates by 5.1%. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 19% growth forecast for the Electrical industry in India. Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has increased by 55% per year, which means it is tracking significantly ahead of earnings growth. Duyuru • Jun 15
Polycab India Limited, Annual General Meeting, Jul 16, 2024 Polycab India Limited, Annual General Meeting, Jul 16, 2024, at 09:00 Indian Standard Time. Duyuru • Jun 13
Polycab India Limited Announces Resignation of Sandeep Bhargava as Executive President and Chief Procurement Officer Polycab India Limited announced resignation of Mr. Sandeep Bhargava, Executive President and Chief Procurement Officer of the company with effect from June 12, 2024 due to personal reasons. Price Target Changed • May 13
Price target increased by 9.1% to ₹5,888 Up from ₹5,398, the current price target is an average from 26 analysts. New target price is approximately in line with last closing price of ₹6,154. Stock is up 82% over the past year. The company is forecast to post earnings per share of ₹139 for next year compared to ₹119 last year. Reported Earnings • May 11
Full year 2024 earnings: EPS and revenues exceed analyst expectations Full year 2024 results: EPS: ₹119 (up from ₹84.87 in FY 2023). Revenue: ₹182.6b (up 29% from FY 2023). Net income: ₹17.8b (up 41% from FY 2023). Profit margin: 9.8% (in line with FY 2023). Revenue exceeded analyst estimates by 3.4%. Earnings per share (EPS) also surpassed analyst estimates by 5.1%. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 19% growth forecast for the Electrical industry in India. Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has increased by 57% per year, which means it is tracking significantly ahead of earnings growth. Duyuru • May 11
Polycab India Limited Recommends Dividend for the Financial Year 2023-24 The board of directors of Polycab India Limited at its meeting held on May 10, 2024, considered and approved Recommendation of dividend @ 300% i.e. 30/- per equity share of face value of INR 10/- each for the financial year 2023-24 subject to approval of shareholders at the upcoming Annual General Meeting. The dividend, if approved by the shareholders in the upcoming Annual General Meeting will be paid on or before 30 days from the date of Annual General Meeting. The Book Closure and Record Date for dividend purpose will be intimated in due course. Duyuru • Apr 28
Polycab India Limited to Report Q4, 2024 Results on May 10, 2024 Polycab India Limited announced that they will report Q4, 2024 results on May 10, 2024 Duyuru • Feb 12
Polycab India Limited Announces the Resignation of Nilesh Malani from the Position of Chief Marketing Officer, Effective 13 February 2024 Polycab India Limited announced the resignation of Mr. Nilesh Malani from the position of Chief Marketing Officer with effect from 13th February 2024 on account of exploring other career prospects. Reported Earnings • Jan 19
Third quarter 2024 earnings: EPS and revenues miss analyst expectations Third quarter 2024 results: EPS: ₹27.50 (up from ₹23.90 in 3Q 2023). Revenue: ₹44.1b (up 19% from 3Q 2023). Net income: ₹4.13b (up 15% from 3Q 2023). Profit margin: 9.4% (in line with 3Q 2023). Revenue missed analyst estimates by 1.9%. Earnings per share (EPS) also missed analyst estimates by 2.8%. Revenue is forecast to grow 14% p.a. on average during the next 3 years, compared to a 19% growth forecast for the Electrical industry in India. Over the last 3 years on average, earnings per share has increased by 29% per year but the company’s share price has increased by 51% per year, which means it is tracking significantly ahead of earnings growth. New Risk • Jan 15
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 7.5% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (30% accrual ratio). Minor Risks Dividend is not well covered by cash flows (234% cash payout ratio). Share price has been volatile over the past 3 months (7.5% average weekly change). Valuation Update With 7 Day Price Move • Jan 11
Investor sentiment deteriorates as stock falls 28% After last week's 28% share price decline to ₹3,877, the stock trades at a forward P/E ratio of 31x. Average forward P/E is 43x in the Electrical industry in India. Total returns to shareholders of 226% over the past three years. Duyuru • Jan 05
Polycab India Limited to Report Q3, 2024 Results on Jan 18, 2024 Polycab India Limited announced that they will report Q3, 2024 results on Jan 18, 2024 Duyuru • Dec 05
Polycab India Limited Announces Board Changes Polycab India Limited announced that Mr. Rohit Kumar, (aged 56 years) President & Chief Business Officer (FMEG BU), resigned with effect from 04 December 2023, due to personal reasons and Mr. Anil Shipley, (aged 62 years) Executive President Strategic Projects, Electricals and Electronics, resigned with effect from 05 December 2023, due to personal reasons. Price Target Changed • Oct 19
Price target increased by 9.6% to ₹5,213 Up from ₹4,755, the current price target is an average from 25 analysts. New target price is approximately in line with last closing price of ₹5,294. Stock is up 100% over the past year. The company is forecast to post earnings per share of ₹121 for next year compared to ₹84.87 last year. Reported Earnings • Oct 19
Second quarter 2024 earnings: EPS and revenues exceed analyst expectations Second quarter 2024 results: EPS: ₹28.38 (up from ₹17.90 in 2Q 2023). Revenue: ₹42.5b (up 28% from 2Q 2023). Net income: ₹4.26b (up 59% from 2Q 2023). Profit margin: 10.0% (up from 8.0% in 2Q 2023). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 4.6%. Earnings per share (EPS) also surpassed analyst estimates by 10%. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 17% growth forecast for the Electrical industry in India. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has increased by 85% per year, which means it is tracking significantly ahead of earnings growth. Duyuru • Oct 07
Polycab India Limited to Report Q2, 2024 Results on Oct 18, 2023 Polycab India Limited announced that they will report Q2, 2024 results on Oct 18, 2023 Price Target Changed • Jul 19
Price target increased by 10% to ₹3,885 Up from ₹3,526, the current price target is an average from 26 analysts. New target price is 9.8% below last closing price of ₹4,309. Stock is up 96% over the past year. The company is forecast to post earnings per share of ₹111 for next year compared to ₹84.87 last year. Reported Earnings • Jul 19
First quarter 2024 earnings: EPS and revenues exceed analyst expectations First quarter 2024 results: EPS: ₹26.66 (up from ₹14.70 in 1Q 2023). Revenue: ₹39.5b (up 45% from 1Q 2023). Net income: ₹3.99b (up 82% from 1Q 2023). Profit margin: 10% (up from 8.0% in 1Q 2023). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 25%. Earnings per share (EPS) also surpassed analyst estimates by 40%. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Electrical industry in India. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has increased by 74% per year, which means it is tracking significantly ahead of earnings growth. Duyuru • Jul 07
Polycab India Limited to Report Q1, 2024 Results on Jul 18, 2023 Polycab India Limited announced that they will report Q1, 2024 results on Jul 18, 2023 Upcoming Dividend • Jun 14
Upcoming dividend of ₹20.00 per share at 0.6% yield Eligible shareholders must have bought the stock before 21 June 2023. Payment date: 28 July 2023. Payout ratio is a comfortable 24% and this is well supported by cash flows. Trailing yield: 0.6%. Lower than top quartile of Indian dividend payers (1.5%). In line with average of industry peers (0.5%). Duyuru • May 30
Polycab India Limited, Annual General Meeting, Jun 30, 2023 Polycab India Limited, Annual General Meeting, Jun 30, 2023, at 09:00 Indian Standard Time. Price Target Changed • May 16
Price target increased by 8.5% to ₹3,344 Up from ₹3,081, the current price target is an average from 25 analysts. New target price is approximately in line with last closing price of ₹3,427. Stock is up 32% over the past year. The company is forecast to post earnings per share of ₹95.89 for next year compared to ₹84.87 last year. Reported Earnings • May 13
Full year 2023 earnings: EPS exceeds analyst expectations Full year 2023 results: EPS: ₹84.87 (up from ₹56.04 in FY 2022). Revenue: ₹142.4b (up 17% from FY 2022). Net income: ₹12.7b (up 52% from FY 2022). Profit margin: 8.9% (up from 6.9% in FY 2022). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 5.6%. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Electrical industry in India. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has increased by 70% per year, which means it is tracking significantly ahead of earnings growth. Duyuru • May 13
Polycab India Limited Recommends Dividend for the Financial Year 2022-2023 Polycab India Limited recommended a dividend @ 200% i.e. INR 0.20 per equity share of face value of INR 10 each for the financial year 2022-23, subject to approval of shareholders at the upcoming annual general meeting. The dividend, if approved by the shareholders in the upcoming annual general meeting will be paid on or before 30 days from the date of annual general meeting. The book closure and record date for dividend purpose will be intimated in due course. Board Change • Feb 01
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Additional Non-Executive Independent Director Manju Agarwal was the last director to join the board, commencing their role in 2023. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Jan 20
Third quarter 2023 earnings: EPS and revenues exceed analyst expectations Third quarter 2023 results: EPS: ₹23.89 (up from ₹16.52 in 3Q 2022). Revenue: ₹37.5b (up 11% from 3Q 2022). Net income: ₹3.58b (up 45% from 3Q 2022). Profit margin: 9.5% (up from 7.3% in 3Q 2022). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 3.3%. Earnings per share (EPS) also surpassed analyst estimates by 17%. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 13% growth forecast for the Electrical industry in India. Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has increased by 39% per year, which means it is tracking significantly ahead of earnings growth. Duyuru • Jan 20
Polycab India Limited Appoints Manju Agarwal as Additional (Non-Executive Independent) Director The Board of Directors of Polycab India Limited at its meeting held on January 19, 2023, have considered and approved the appointment of Mrs. Manju Agarwal as an Additional (Non-executive Independent) Director of the Company for a term of 3 consecutive years commencing from 19 January 2023 to 18 January 2026. Mrs. Manju Agarwal has been a career banker with 34 years of experience in India's largest Bank, State Bank of India in leadership positions where she was responsible for Policy, Strategy, Business and Operations. Her core expertise and key achievements include Retail Banking, Financial Inclusion and Digital initiatives. She led SBI's partnership with Reliance Industries Limited to set up Jio Payment Bank Ltd. She had been the team lead which conceptualized and launched YONO, SBI's Digital Bank, Financial Superstore & online market place (one of its kind in the Industry). She headed SBI's Debit Card Strategy, Merchant Acquiring business, Government business and Transaction Banking Business. She also led SBI's Jan Dhan program during 2014 and was associated with setting up of SBI's Pension Fund Subsidiary in 2007. She is a Post Graduate from the University of Allahabad, 1978 and an Associate of the Indian Institute of Bankers, 1989. She is currently serving on the Board of several Listed Companies. Duyuru • Jan 07
Polycab India Limited to Report Q3, 2023 Results on Jan 19, 2023 Polycab India Limited announced that they will report Q3, 2023 results on Jan 19, 2023 Price Target Changed • Oct 21
Price target increased to ₹2,783 Up from ₹2,574, the current price target is an average from 26 analysts. New target price is approximately in line with last closing price of ₹2,651. Stock is up 19% over the past year. The company is forecast to post earnings per share of ₹74.72 for next year compared to ₹56.04 last year. Reported Earnings • Oct 19
Second quarter 2023 earnings: EPS and revenues exceed analyst expectations Second quarter 2023 results: EPS: ₹17.90. Net income: ₹2.68b (up ₹2.68b from 2Q 2022). Revenue exceeded analyst estimates by 10%. Earnings per share (EPS) also surpassed analyst estimates by 16%. Revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Electrical industry in India. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has increased by 51% per year, which means it is tracking significantly ahead of earnings growth. Duyuru • Oct 08
Polycab India Limited to Report Q2, 2023 Results on Oct 18, 2022 Polycab India Limited announced that they will report Q2, 2023 results at 12:08 PM, Indian Standard Time on Oct 18, 2022 Reported Earnings • Jul 20
First quarter 2023 earnings: EPS and revenues miss analyst expectations First quarter 2023 results: EPS: ₹14.70 (up from ₹4.96 in 1Q 2022). Revenue: ₹27.8b (up 48% from 1Q 2022). Net income: ₹2.20b (up 197% from 1Q 2022). Profit margin: 7.9% (up from 3.9% in 1Q 2022). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 9.6%. Earnings per share (EPS) also missed analyst estimates by 24%. Over the next year, revenue is forecast to grow 8.5%, compared to a 21% growth forecast for the industry in India. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has increased by 55% per year, which means it is tracking significantly ahead of earnings growth. Duyuru • Jul 12
Polycab India Limited to Report Q1, 2023 Results on Jul 19, 2022 Polycab India Limited announced that they will report Q1, 2023 results on Jul 19, 2022 Upcoming Dividend • Jun 14
Upcoming dividend of ₹14.00 per share Eligible shareholders must have bought the stock before 21 June 2022. Payment date: 27 July 2022. Payout ratio is a comfortable 25% but the company is not cash flow positive. Trailing yield: 0.6%. Lower than top quartile of Indian dividend payers (1.8%). In line with average of industry peers (0.7%). Duyuru • Jun 02
Polycab India Limited, Annual General Meeting, Jun 29, 2022 Polycab India Limited, Annual General Meeting, Jun 29, 2022, at 09:00 Indian Standard Time. Reported Earnings • May 13
Full year 2022 earnings: EPS and revenues exceed analyst expectations Full year 2022 results: EPS: ₹56.04 (down from ₹59.20 in FY 2021). Revenue: ₹122.9b (up 38% from FY 2021). Net income: ₹8.37b (down 5.2% from FY 2021). Profit margin: 6.8% (down from 9.9% in FY 2021). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 4.5%. Earnings per share (EPS) also surpassed analyst estimates by 11%. Over the next year, revenue is forecast to grow 13%, compared to a 19% growth forecast for the industry in India. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has increased by 62% per year, which means it is tracking significantly ahead of earnings growth. Duyuru • May 12
Polycab India Limited Recommends Dividend for the Financial Year 2021-2022 Polycab India Limited has recommended a dividend @ 140% that is INR 14/- per equity share of face value of INR 10/- each for the financial year 2021-22 subject to approval of shareholders at the upcoming Annual General Meeting. The dividend, if approved by the shareholders in the upcoming Annual General Meeting will be paid on or before 30 days from the date of Annual General Meeting. Recent Insider Transactions • Feb 05
Insider recently sold ₹1.3m worth of stock On the 28th of January, Rashmikant Mehta sold around 500 shares on-market at roughly ₹2,539 per share. In the last 3 months, there was an even bigger sale from another insider worth ₹49m. Insiders have been net sellers, collectively disposing of ₹152m more than they bought in the last 12 months. Reported Earnings • Jan 24
Third quarter 2022 earnings: EPS and revenues exceed analyst expectations Third quarter 2022 results: EPS: ₹16.52 (down from ₹17.61 in 3Q 2021). Revenue: ₹33.7b (up 21% from 3Q 2021). Net income: ₹2.47b (down 6.0% from 3Q 2021). Profit margin: 7.3% (down from 9.4% in 3Q 2021). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 3.6%. Earnings per share (EPS) also surpassed analyst estimates by 49%. Over the next year, revenue is forecast to grow 14%, compared to a 21% growth forecast for the industry in India. Recent Insider Transactions • Jan 05
Additional Whole-Time Director recently sold ₹49m worth of stock On the 31st of December, Nikhil Jaisinghani sold around 20k shares on-market at roughly ₹2,447 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of ₹2.3b more than they bought in the last 12 months. Duyuru • Dec 31
Polycab India Limited (NSEI:POLYCAB) acquired an additional 9% stake in Dowells Cable Accessories Private Limited for INR 21.8 million. Polycab India Limited (NSEI:POLYCAB) acquired an additional 9% stake in Dowells Cable Accessories Private Limited for INR 21.8 million on December 30, 2021.
Polycab India Limited (NSEI:POLYCAB) completed the acquisition of an additional 9% stake in Dowells Cable Accessories Private Limited on December 30, 2021. Recent Insider Transactions • Dec 07
Insider recently sold ₹5.4m worth of stock On the 30th of November, Bharat Shyamyani sold around 2k shares on-market at roughly ₹2,341 per share. In the last 3 months, there was an even bigger sale from another insider worth ₹7.4m. Insiders have been net sellers, collectively disposing of ₹2.3b more than they bought in the last 12 months. Recent Insider Transactions • Nov 12
Insider recently sold ₹2.4m worth of stock On the 9th of November, Chetan Deshmukh sold around 1k shares on-market at roughly ₹2,448 per share. In the last 3 months, there was an even bigger sale from another insider worth ₹6.2m. Insiders have been net sellers, collectively disposing of ₹2.2b more than they bought in the last 12 months. Price Target Changed • Oct 26
Price target increased to ₹2,488 Up from ₹2,285, the current price target is an average from 17 analysts. New target price is 8.2% above last closing price of ₹2,298. Stock is up 143% over the past year. The company is forecast to post earnings per share of ₹55.70 for next year compared to ₹59.20 last year. Reported Earnings • Oct 23
Second quarter 2022 earnings released: EPS ₹13.27 (vs ₹14.81 in 2Q 2021) The company reported a mediocre second quarter result with weaker earnings and profit margins, although revenues improved. Second quarter 2022 results: Revenue: ₹31.6b (up 49% from 2Q 2021). Net income: ₹1.98b (down 10% from 2Q 2021). Profit margin: 6.3% (down from 10% in 2Q 2021). The decrease in margin was driven by higher expenses. Price Target Changed • Sep 14
Price target increased to ₹2,142 Up from ₹1,980, the current price target is an average from 17 analysts. New target price is 13% below last closing price of ₹2,461. Stock is up 175% over the past year. Recent Insider Transactions • Sep 04
Insider recently sold ₹2.2m worth of stock On the 2nd of September, Shyam Bajaj sold around 1k shares on-market at roughly ₹2,200 per share. In the last 3 months, they made an even bigger sale worth ₹2.4m. Insiders have been net sellers, collectively disposing of ₹2.2b more than they bought in the last 12 months. Valuation Update With 7 Day Price Move • Sep 02
Investor sentiment improved over the past week After last week's 19% share price gain to ₹2,210, the stock trades at a forward P/E ratio of 32x. Average forward P/E is 31x in the Electrical industry in India. Total returns to shareholders of 155% over the past year. Reported Earnings • Jul 22
First quarter 2022 earnings released: EPS ₹4.96 (vs ₹7.90 in 1Q 2021) The company reported a mediocre first quarter result with weaker earnings and profit margins, although revenues improved. First quarter 2022 results: Revenue: ₹19.1b (up 95% from 1Q 2021). Net income: ₹739.9m (down 37% from 1Q 2021). Profit margin: 3.9% (down from 12% in 1Q 2021). The decrease in margin was driven by higher expenses. Upcoming Dividend • Jul 05
Upcoming dividend of ₹10.00 per share Eligible shareholders must have bought the stock before 12 July 2021. Payment date: 20 August 2021. Trailing yield: 0.5%. Lower than top quartile of Indian dividend payers (1.6%). In line with average of industry peers (0.6%). Recent Insider Transactions • Jun 25
Insider recently sold ₹2.4m worth of stock On the 23rd of June, Shyam Bajaj sold around 1k shares on-market at roughly ₹1,999 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of ₹2.5b more than they bought in the last 12 months. Duyuru • Jun 19
Polycab India Limited (NSEI:POLYCAB) entered in an agreement to acquire Silvan Innovation Labs Pvt. Ltd. for approximately INR 180 million. Polycab India Limited (NSEI:POLYCAB) entered in an agreement to acquire Silvan Innovation Labs Pvt. Ltd. for approximately INR 180 million on June 18, 2021. The cost of acquisition is around INR 102 million for shares and around INR 80 million as additional funds infusion to discharge certain outstanding liabilities. Silvan will operate as a wholly owned subsidiary of PIL. The founders Giridhar Krishna, Mohan Gopalakrishna and Ajay Gupta will be continuing with PIL. As of December 2020 Silvan reported revenue of INR 34.3 million. The transaction is subject to fulfilment of certain conditions by both parties and is expected to close in one month. Price Target Changed • Jun 08
Price target increased to ₹1,734 Up from ₹1,549, the current price target is an average from 11 analysts. New target price is approximately in line with last closing price of ₹1,743. Stock is up 125% over the past year. Price Target Changed • May 25
Price target increased to ₹1,549 Up from ₹1,436, the current price target is an average from 11 analysts. New target price is 8.1% below last closing price of ₹1,685. Stock is up 166% over the past year. Executive Departure • May 24
Whole-Time Director has left the company On the 12th of May, Ajay Jaisinghani's tenure as Whole-Time Director ended after 6.7 years in the role. As of March 2021, Ajay personally held 20.61m shares (₹28b worth at the time). A total of 5 executives have left over the last 12 months. Executive Departure • May 24
Whole-Time Director has left the company On the 12th of May, Shyam Bajaj's tenure in the role of Whole-Time Director ended. As of March 2021, Shyam personally held 16.21k shares (₹22m worth at the time). A total of 5 executives have left over the last 12 months. Executive Departure • May 24
Non-Executive & Independent Director has left the company On the 12th of May, Hiroo Mirchandani's tenure as Non-Executive & Independent Director ended after 2.6 years in the role. We don't have any record of a personal shareholding under Hiroo's name. A total of 5 executives have left over the last 12 months. 
