Polycab India Ltd Stock Analysis

BSE: 542652 | NSE: POLYCAB | Cable | Large Cap

BSE Share Price 29-Nov-2022 18:01
2529.05 -21.10 (-0.83%)

DeciZen - Make an Informed Decision on Polycab India

Overall Rating

1. Quality

2. Valuation

Somewhat overvalued

3. Price Trend

Semi Strong

Polycab India Price Chart

P/E Ratio (CD) :
33.93
Market Cap :
38,171.1 Cr.
52-wk low :
2,045
52-wk high :
2,853.5
Bole Toh?

1. Is Polycab India Ltd a good quality company?

Past 10 year's financial track record analysis by Moneyworks4me indicates that Polycab India Ltd is a good quality company.

2. Is Polycab India Ltd undervalued or overvalued?

The key valuation ratios of Polycab India Ltd's currently when compared to its past seem to suggest it is in the Somewhat overvalued zone.

3. Is Polycab India Ltd a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of Polycab India Ltd is likely to Rise-somewhat in the short term. However, please check the rating on Quality and Valuation before investing.

10 Year X-Ray of Polycab India:

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Polycab India Ltd has performed well in majority of the past ten years indicating its past ten year financial track record is very good

Value Creation

Value Creation Index Colour Code Guide

Mar'13Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22TTM
ROCE % 0%0%10.9%12.3%9.5%13.3%17.9%22.8%18.3%15.9%-
Value Creation Index NANA-0.00.1-0.20.20.30.70.60.4-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 004,7085,1875,5006,7707,9868,8308,79212,20413,411
YoY Gr. Rt. %-NANA10.2%6%23.1%18%10.6%-0.4%38.8%-
Adj EPS 0011.414.91523.634.152.453.55575.1
YoY Gr. Rt. %-NANA31.6%0.6%57.2%44.2%54%2.1%2.7%-
BVPS (₹) 0000000255.9316.8368.6389.7
Adj Net Profit 001602112123344817807988211,124
Cash Flow from Ops. 001501902963621,2302441,252512-
Debt/CF from Ops. 003.64.22.92.20.20.60.20.2-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales NA17.3%15.2%38.8%
Adj EPS NA29.6%17.3%2.7%
BVPS 00016.3
Share Price - - 39.9% 14.1%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'13Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22TTM
Return on Equity % 009.912.411.215.418.523.418.61619.8
Op. Profit Mgn % 009.4108.710.812.113.212.610.311.8
Net Profit Mgn % 003.44.13.94.96.199.16.88.4
Debt to Equity 000.30.50.40.30.100.100
Working Cap Days 000158177165157160163121156
Cash Conv. Cycle 0006067861061091128399

Recent Performance Summary

Return on Equity has increased versus last 3 years average to 19.80%

Sales growth is growing at healthy rate in last 3 years 15.19%

Net Profit is growing at healthy rate in last 3 years 17.30%

Sales growth is good in last 4 quarters at 29.01%

No data to display

Latest Financials - Polycab India Ltd.

Standalone Consolidated
TTM EPS (₹) 76.1 75.1
TTM Sales (₹ Cr.) 13,227 13,411
BVPS (₹.) 387.8 389.7
Reserves (₹ Cr.) 5,654 5,684
P/BV 6.58 6.54
PE 33.50 33.93
From the Market
52 Week Low / High (₹) 2045.00 / 2853.50
All Time Low / High (₹) 525.05 / 2853.50
Market Cap (₹ Cr.) 38,171
Equity (₹ Cr.) 149.7
Face Value (₹) 10
Industry PE 28.9

Management X-Ray of Polycab India :

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Event Update

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Analyst's Notes

Key Ratios of Polycab India

Adj EPS (Rs.)
Sales (Cr.)
ROE (%)
ROCE (%)

News

Polycab India Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of Polycab India on 29-Nov-2022 18:01 is : 2,529.1.
Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 29-Nov-2022 18:01 the market cap of Polycab India stood at ₹ 38,171.1.
The latest PE ratio of Polycab India as of 29-Nov-2022 18:01 is 33.50.
The latest PB ratio of Polycab India as of 29-Nov-2022 18:01 is 6.58
The 52-week high of Polycab India is ₹ 2,853.5 and the 52-week low is ₹ 2,045.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue / sales of Polycab India is ₹ 13,227 ( Cr.) .

About Polycab India Ltd

The company was incorporated as ‘Polycab Wires Private Limited’ on January 10, 1996 at Mumbai as a private limited company under the Companies Act, 1956. The company became a deemed public limited company under Section 43A (1) of the Companies Act, 1956, and the word ‘private’ was struck off from the name of company with effect from June 30, 2000. Thereafter, the company was converted into a private limited company under section 43A(2A) of the Companies Act, 1956, and the word ‘private’ was added in the name of company with effect from June 15, 2001. Subsequently, the company was converted into a public limited company, the word ‘private’ was struck off from the name of company and consequently, a fresh certificate of incorporation dated August 29, 2018 was issued by the Registrar of Companies, National Capital Territory of Delhi and Haryana (RoC), recording the change of company’s name to ‘Polycab Wires Limited’. Thereafter, the name of company was changed from ‘Polycab Wires Limited’ to ‘Polycab India Limited’, and a fresh certificate of incorporation dated October 13, 2018 was issued by the RoC.

It is the largest manufacturer in the wires and cables industry in India, in terms of revenue from the wires and cables segment and provide one of the most extensive range of wires and cables in India.

Business area of the company

Polycab India is engaged in the business of manufacturing and selling wires and cables and fast moving electrical goods (FMEG) under the ‘POLYCAB’ brand. Apart from wires and cables, it manufactures and sells FMEG such as electric fans, LED lighting and luminaires, switches and switchgears, solar products and conduits and accessories.

Products:

  • Cable and wires
  • Fans
  • Lighting and Luminaries
  • Switches
  • Solar products
  • Switchgears
  • Conduits and Accessories
  • Pumps
  • Appliances
  • EPC

Awards and Recognition:

  • 2018: National Best Employer Brand, 2018 - Employer Branding Institute - India.
  • 2017: Superbrands 2017 by the Superbrands India Private Limited.
  • 2015: 29th Annual Chapter Convention on Quality Concepts - CCQC - 2015, Gold Trophy.
  • 2015: 29th Annual Chapter Convention on Quality Concepts - CCQC - 2015, Silver Award.
  • 2015: 29th Annual Chapter Convention on Quality Concepts - CCQC, Excellence Award.
  • 2014: 28th Annual Chapter Convention on Quality Concepts - CCQC -2014, Gold Trophy.
  • 2014: 28th Annual Chapter Convention on Quality Concepts - CCQC - 2014, Silver Trophy.
  • 2014: 28th National Convention on Quality Concepts - NCQC - 2013, Par Excellence Award.
  • 2014: 28th National Convention on Quality Concepts - NCQC, Excellence Award.
  • 2018: Polycab honoured with ACETECH Grand Stand Awards for stall design in Delhi in Dec 2018.
  • 2019: Polycab honoured with ACETECH Grand Stand Special Jury Recognition for stall design in Mumbai in 2019.

Major Events & Milestones:

  • 1996: The company was incorporated on January 10, 1996 at Mumbai.
  • 1998: The company set up a manufacturing facility for PVC insulated power cables house wires, polyethylene insulated jelly filled telephone cables, optical fibre cables, switch board cables and quad cables at Daman.
  • 2008: The turnover of company increased from over Rs 10,000 million in Fiscal 2006 to over Rs 21,000 million in Fiscal 2008.
  • 2009: Investment from IFC in Company of Rs 4,017.50 million.
  • 2011 Polycab Industries Private Limited was amalgamated into company pursuant to a scheme of amalgamation.
  • 2011: The turnover of company increased to over Rs 31,000 million.
  • 2013: The company entered into the switch and switchgears segment.
  • 2014: The company entered into the fans and LED lighting segment.
  • 2014: The company set up manufacturing facilities for MCBs at Nashik, Maharashtra.
  • 2016: The company set up manufacturing facilities for ceiling fans at Roorkee, Uttarakhand.
  • 2016: The company entered into an agreement with Trafigura Pte. Limited to form a joint venture, Ryker Base Private Limited for setting up a copper rod manufacturing plant.
  • 2016: The company set up a modernized facility for manufacture of higher voltage cables up to 220 kV at Halol, Gujarat.
  • 2017: The company entered into an agreement with former promoters of Techno Electromech Private Limited in respect of acquisition of a joint venture, Techno Electromech Private Limited for manufacturing LED lighting products.
  • 2019: Polycab India inaugurates Polycab Experience Centre in Pune.
  • 2019: Polycab India inks agreement with Adfactors PR
  • 2020: Polycab India has incorporated a wholly owned subsidiary (WOS) company named Polycab USA LLC with effect from January 27, 2020.
  • 2020: Polycab India launches Experience Centre & Branch Office in Kerala.
  • 2020: Polycab India has incorporated a Wholly Owned Subsidiary in Australia under the name and style of ‘Polycab Australia’ on July 1, 2020.
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