Latest news with #Polycab
Indian Express
a day ago
- Business
- Indian Express
8x stock surge, record Q1 FY26 revenue: Can Polycab sustain the momentum?
In the stock market, some stories unfold quietly before they turn spectacular. Polycab is one of them. Five years ago, the well-run cables and wires company was trading in the sub-Rs800 range. It was steady, predictable, and hardly the sort of stock that was a part of conversations. Today, that same company trades close to Rs 7,000. That is an eight-fold return for anyone who stayed the course. And it has not been a straight line climb. There were pauses, pullbacks, and even a sharp fall in late 2024. Yet, the stock's swift recovery in 2025 says a lot about the conviction investors have built in its story. Polycab has earned its re-rating the hard way by cementing its leadership in wires and cables, pushing aggressively into fast-moving electrical goods, and expanding margins without losing sight of operational discipline. It has kept its balance sheet strong, sitting on over Rs 3,100 crore of net cash, and it continues to invest heavily in growth under its multi-year Project Spring plan. In Q1 FY26, Polycab delivered the highest-ever first-quarter revenue and profit in its history, showing strength across segments and geographies. For investors, the question now is whether the next phase can match or even exceed the voltage of its past run. Polycab runs two main businesses: the wires & cables segment, which is the engine room of the company, and the Fast Moving Electrical Goods (FMEG) segment, which is its growth frontier. There is also a smaller Engineering, Procurement & Construction (EPC) arm that helps it deliver turnkey electrification projects. In Q1 FY26, the company reported Rs 5,906 crore in revenue, up 26% year-on-year. The wires & cables division alone brought in around Rs 5,130 crore or about 87% of total sales, growing a strong 31% YoY. This is where Polycab's dominance shows. It sells everything from the copper wiring inside homes to the heavy-duty cables used in power plants, railways, and telecom projects. The domestic cables business grew faster than the market, hinting at market share gains. Exports are still a small slice of the business at 5.2% of revenue, but they grew 24% year-on-year in the latest quarter. Management sees the US as a significant long-term opportunity because Indian cables currently benefit from lower import duties there than Chinese cables (about 10% versus 55%). However, the domestic duty environment has become less predictable, with recent hikes making exports from India more cost-sensitive. This uncertainty means that while the US tariff gap is a strategic tailwind, sustaining export momentum will require close attention to shifting trade policies. For the FMEG business, premium products are leading the way. For instance, premium fans now contribute 25% of fan sales, premium lights make up over 35% of lighting sales, and new modular switches already account for 20% of switch sales. Even solar inverters have emerged as the single largest category in the FMEG portfolio this quarter, driven by the state-level rooftop solar push. Also, one of the big pluses is that the margins have been expanding across the board. Consolidated Earnings Before Interest, Taxes, Depreciation and Amortisation (EBITDA) margin rose to 14.5%, up from 12.4% a year ago. The wires & cables segment delivered a 14.7% EBIT margin, and FMEG's profitability has started to take shape. A big help has been a better sales mix (more high-margin products) and operating leverage from higher volumes. One of Polycab's underrated strengths is its distribution muscle. It works with over 4,300 authorised dealers and reaches 2 lakh+ retail outlets across India. This network not only moves products efficiently but also allows Polycab to launch and scale new categories faster than many rivals. The same trucks that drop electrical cables to a distributor can also deliver fans, switches, and solar inverters, creating cost efficiencies and increasing shelf space presence. The company has also kept its working capital cycle lean. In Q1, it was just 43 days, helped by efficient collections and inventory management. Sitting on Rs 3,100+ crore of net cash, Polycab can fund expansion from internal resources without taking on heavy debt, a big advantage when scaling both manufacturing and distribution. Polycab's stock has climbed nearly 8x in five years, and at the current price of around Rs 7,000, the company commands a market capitalisation of over Rs 1 lakh crore. On a trailing basis, the stock trades at roughly 45 times earnings, which is a premium to many industrial peers but in line with high-quality consumer electrical names. The market is pricing in sustained double-digit revenue growth and margin stability. The optimism is perhaps not without basis. The domestic wires and cables market is expected to grow at a mid-teens CAGR over the next five years, powered by infrastructure spending, housing demand, and the shift to premium, branded products. On top of that, Polycab's export push has a structural advantage due to favourable US tariffs, while its FMEG business offers a consumer-brand rerating opportunity if it continues to expand margins and scale. Management is also guiding for steady capex under Project Spring, targeting both capacity expansion and deeper penetration in Tier-2 and Tier-3 cities. With over Rs 3,100 crore of net cash and a lean balance sheet, this growth can be funded internally without putting pressure on returns. Still, investors should be aware of the risks. A slowdown in infrastructure or real estate activity could hit cable demand. Raw material price swings, especially in copper and aluminium, can squeeze margins if not passed on quickly. Competition in FMEG is fierce, with established consumer brands fighting for the same shelf space. And on the export side, tariff advantages are policy-driven and could change with trade negotiations. That said, Polycab's track record of execution, market share gains, and balance sheet strength put it in a position to navigate these challenges better than most. If the company can maintain high-teens revenue growth and keep margins in the 13-15% range, the stock's premium multiple may hold. For long-term investors, Polycab remains an interesting mix of a steady infrastructure play with a consumer brand growth kicker. The next few years will show whether this current keeps flowing at the same intensity. Note: This article relies on data from annual and industry reports. We have used our assumptions for forecasting. Parth Parikh has over a decade of experience in finance and research and currently heads the growth and content vertical at Finsire. He holds an FRM Charter and an MBA in Finance from Narsee Monjee Institute of Management Studies. Disclosure: The writer and his dependents do not hold the stocks discussed in this article. The website managers, its employee(s), and contributors/writers/authors of articles have or may have an outstanding buy or sell position or holding in the securities, options on securities or other related investments of issuers and/or companies discussed therein. The content of the articles and the interpretation of data are solely the personal views of the contributors/ writers/authors. Investors must make their own investment decisions based on their specific objectives, resources and only after consulting such independent advisors as may be necessary.
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First Post
5 days ago
- Business
- First Post
Polycab & CNBC-TV18 Present: Infra Safety – Powering India's Electrical Future Podcast featuring Puneet Bhatnagar, Director, Tech Four Engineering
At a time when India is investing heavily in smart and sustainable infrastructure, this conversation is a timely reminder that innovation must go hand-in-hand with safety read more How is electrical safety quietly powering India's infrastructure revolution? In this exclusive vodcast, Polycab and CNBC-TV18 bring you a compelling conversation on one of the most critical — yet often under-discussed — aspects of infrastructure development: electrical safety. As India accelerates its infra push across airports, smart cities, hospitals, hotels, and industrial zones, safety cannot remain an afterthought. Hosted by Griha Atul, this episode features Puneet Bhatnagar, Director at Tech Four Engineering, a leading MEPF consulting firm with a footprint across aviation, pharmaceuticals, hospitality, and more. Drawing on decades of on-the-ground experience, Bhatnagar shares how safety-first thinking is being integrated into the DNA of India's infrastructure landscape. STORY CONTINUES BELOW THIS AD From high-capacity marketplaces like the Indian International Horticulture Market to five-star hotel developments and pharma-grade facilities, Bhatnagar explains the intricate balance between safety, sustainability, performance, and compliance. The conversation highlights how modern infrastructure must account for not just present needs but also future-proofing, with safety as the cornerstone. More from Business How Indian fintech startups are driving Malaysia's UPI-like digital payments revolution In this episode, you'll learn: Why electrical safety must be embedded from the design stage through execution and operations The increasing use of BIM and Digital Twin technologies to identify safety gaps early How Polycab's green wires, certified components, and rigorous testing protocols are setting new benchmarks in quality and compliance The role of third-party commissioning, predictive maintenance, and redundancy systems in enhancing safety and uptime Why revised safety codes like NBC 2025 and NEC 2023 are shaping the future of electrical design Bhatnagar also addresses some of the most pressing challenges: How legacy infrastructure can be retrofitted to meet modern safety standards The need for regular electrical audits and certification checks The importance of educating all stakeholders — from architects to contractors to end users — on safety best practices At a time when India is investing heavily in smart and sustainable infrastructure, this conversation is a timely reminder that innovation must go hand-in-hand with safety. Whether you're a builder, consultant, policymaker, or project manager, this podcast offers practical insights into how electrical safety can be a game-changer — not just for compliance, but for performance, reliability, and longevity.
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Business Standard
30-07-2025
- Business
- Business Standard
Nifty, Bank Nifty outlook; Polycab, PI Industries among top stocks to buy
Nifty Outlook Nifty index opened on a negative note and immediately dipped to 24,600 zones, after which the index staged a massive recovery throughout the day and headed towards 24,850 zones in the last hour of the session. It formed a bullish candle along with a Bullish Engulfing price pattern on daily frame and closed with gains of around 140 points. Now it has to hold above 24,750 zones, for an up move towards 25,000 then 25,100 zones while support can be seen at 24,600 then 24,442 zones. On option front, Maximum Call OI is at 25,000 then 25,200 strike while Maximum Put OI is at 24,800 then 24,700 strike. Call writing is seen at 25,150 then 25,800 strike while Put writing is seen at 24,800 then 24,700 strike. Option data suggests a broader trading range in between 24,300 to 25,300 zones while an immediate range between 24,600 to 25,100 levels. Bank Nifty Outlook Bank Nifty index opened on a negative note but remained consolidative in a narrow range of 200 points between 55,800 to 56,000 zones in the first half of the session. Some recovery was seen in the latter part of the session towards 56,300 levels, but it remained choppy as momentum was missing at higher zones. It formed a bullish candle on the daily scale as it closed above its opening levels, but is forming lower highs from the last few sessions. Now it has to hold above 56,000 zones for a bounce towards 56,500 then 56,750 levels while a hold below the same could see some weakness towards 56,000 then 55,750 zones. Stocks to buy today Polycab has reversed its short-term weakness by negating the lower highs–lower lows pattern seen over the last four sessions. The stock remains in a strong overall uptrend and has formed a bullish candle on the daily chart, consistently taking support at the 20 DEMA. The RSI is on the verge of a bullish crossover, indicating strengthening momentum that may fuel further upside. Buy Jio Financial Services| CMP:₹321| Stop-loss:₹311| Target:₹340 Jio Finance has successfully retested its breakout zone on the daily chart and resumed its upward trajectory. A bullish marubozu candle on the daily scale signals strong buying interest and complete control by bulls. In addition, the MACD is showing a positive setup, supporting the ongoing bullish momentum. Buy PI Industries| CMP:₹4,249| Stop-loss:₹4,100| Target:₹4,550 PI Industries is poised for a potential breakout above the 4275 resistance zone, backed by a strong bullish candle surge in trading volumes. The stock structure remains positive, with RSI indicating bullish strength. A confirmed breakout could lead to a swift move toward higher targets.
India.com
25-07-2025
- Business
- India.com
Meet man, born in a Mumbai chawl, quit school at 15, built Rs 1010000000000 company; his business is..., net worth is Rs...
Inder Jaisinghani (File) Building a successful business from scratch while battling crushing poverty is undoubtedly a cumbersome task which only a handful of people can boast to have accomplished in India. One such shining example is the inspiring story of Inder Jaisinghani, the Chairman and Managing Director (MD) of Polycab India Limited, who was born in a humble Mumbai Chawl , spent his childhood in utter poverty, yet through sheer hard work and dedication, turned a small shop in a major business empire which is currently valued at a whopping Rs 101 , 000 crore. Who is Inder Jaisinghani? Born in a low-income household in Mumbai's Lohar Chawl, Inder Jaisinghani spent most of his childhood battling crippling poverty and things got worse after the death of his father, which forced him to drop out of school at the age of 15, and shoulder the burden of the family's responsibilities at a tender age. However, unfazed by the overwhelming odds, Inder Jaisinghani was determined to change his circumstance in life and started out by helping run the family business, Polycab, which at the time was a small electric goods shop in Lohar Chawl. Over the years, Inder applied his exceptional business acumen to transform Polycab from a tiny shop to the largest wire and cable manufacturing firm in India. In 1997, Jaisinghani took over as the Chairman and Director of Polycab, and under his leadership, the company ventured into new markets, and soon became a leading name in the cable manufacturing sector. How Polycab became a Rs 10,000 crore giant? Under Inder Jaisinghani, Polycab, which started out as a small-time trading firm in 1986, has today become the leading cables and wires company in India, valued at a whopping 101,000 crore. In 2008, International Finance Corporation, the private equity arm of the World Bank, picked up a stake in Polycab, and in 2014, the company expanded its product catalog, and started manufacturing items like electric fans, LED lighting, switches and switchgear. Polycab became a publicly-traded company in 2019, and currently has 28 manufacturing plants across India and exports its products to 79 countries. Once a small shop, Polycab has witnessed stunning growth in the last 50 years under the leadership of Inder Jaisinghani. Inder Jaisinghani net worth Polycab Chairman, Inder Jaisinghani, who began his journey from a slum in Mumbai, is now one of the richest individuals in India, with a net worth of $2.1 billion (about Rs 181618322970), making him one of richest industrialists in the country, according to Forbes. Apart from his business acumen, Jaisinghani is also renown for his charity and works for the upliftment of the economically and socially downtrodden communities through Polycab's CSR initiatives. He is also a vehement supporter of the 'Make in India' initiative.
India.com
24-07-2025
- Business
- India.com
Meet Man, Born In Mumbai's Lohar Chawl, Dropped Out Of School At 15 But Founded Rs 1,00,00,00,00,000 Giant - His Company Is India's Largest Manufacturer Of….; Find Out His Net Worth
photoDetails english 2936337 Inder Jaisinghani's journey from Mumbai's modest Lohar Chawl to leading a Rs 1,00,00,00,00,000 company is a true rags-to-riches story. Dropping out of school at 15 after his father's death, he took over his family's small electrical business, which eventually became Polycab India Ltd.—India's largest wire and cable manufacturer. Updated:Jul 24, 2025, 06:17 PM IST A Humble Beginning in Mumbai 1 / 8 Inder Jaisinghani's journey starts in the crowded lanes of Lohar Chawl, Mumbai. Born into a modest family, life took a sharp turn after his father's death. At just 15, he dropped out of school to support the family business — a decision that laid the foundation for an extraordinary future. Teenage Dropout With Sharp Business Instincts 2 / 8 Without formal education, Jaisinghani relied on street-smart business sense. His hands-on approach, ability to understand market trends, and commitment to customer satisfaction helped him grow the business steadily through the 1970s and 80s. Leading Polycab Into a New Era 3 / 8 In 1997, he was appointed Chairman and Director of Polycab. Under his leadership, the company diversified beyond wires and cables into electrical goods. By 2019, as Chairman and Managing Director, he took Polycab into high-growth areas including fans, lighting, switches, and smart home systems. From Family Shop to Manufacturing Powerhouse 4 / 8 Polycab's roots go back to 1964, when Inder's father founded Sind Electric Stores. A key turning point came in 1983 with the registration of Polycab Industries, followed by the launch of Polycab Wires in 1996. In the early 2000s, it expanded rapidly—adding products like PVC power cables, telephone wires, and more. A Strategic Leap into FMEG & Smart Tech 5 / 8 In the 2010s, Polycab entered the Fast Moving Electrical Goods (FMEG) segment—launching LED lights, switches, fans, and MCBs. In 2016, it partnered with Trafigura to build a copper rod plant. The company also ventured into IoT with its smart home solution, Polycab HOHM, in 2020. Polycab's Market Cap 6 / 8 A defining milestone came in 2024—Polycab's market capitalization crossed Rs 1 lakh crore. From a family-run business in Mumbai to becoming India's leading wire and cable manufacturer, Jaisinghani's leadership has built a globally competitive brand with strong investor confidence and consistent growth. Inder Jaisinghani's Net Worth 7 / 8 Jaisinghani's personal fortune reflects Polycab's stellar rise. In 2021, he was worth 3.4 billion dollars. By 2024, this grew to 8.6 billion dollars (Rs 7,25,88,51,50,000). Despite his billionaire status, he continues to focus on innovation, quality, and long-term growth. A Legacy Built on Grit and Vision 8 / 8 Inder Jaisinghani's rise from Mumbai's chawl to billionaire boardrooms is proof that determination and smart decision-making can rewrite destinies. Today, he leads a Rs 1 lakh crore company with global ambitions—while staying rooted in the values that shaped his early years. (Images Credit: @aditya_kondawar/X, @ForbesIndia/X, @NSEIndia/X)
