Polycab India Ltd Hits New 52-Week High at Rs. 7,916.5

Strong Rally Amid Sector and Market Trends

Polycab India Ltd’s stock price has demonstrated robust gains, outperforming its sector by 1% on the day of this new high. The stock has recorded consecutive gains over the last two sessions, delivering a cumulative return of 1.69% during this period. This positive price action is supported by the stock trading comfortably above all key moving averages, including the 5-day, 20-day, 50-day, 100-day, and 200-day averages, signalling sustained bullish momentum.

In contrast, the broader market benchmark, the Sensex, opened lower at 84,620.40, down by 442.94 points or 0.52%, and was trading at 84,889.96 at the time of reporting, a decline of 0.2%. Despite this, the Sensex remains close to its own 52-week high of 86,159.02, just 1.49% away, and is trading above its 50-day moving average, which itself is positioned above the 200-day moving average, indicating an overall positive market trend.

Impressive One-Year Performance and Sector Leadership

Over the past year, Polycab India Ltd has delivered a total return of 9.99%, outpacing the Sensex’s 8.50% gain. The stock’s 52-week low was Rs. 4,557.45, highlighting the significant appreciation in value over the period. Polycab India Ltd holds a commanding position in its sector, with a market capitalisation of Rs. 1,17,071 crores, making it the largest company in the Cables - Electricals sector and representing 38.04% of the sector’s total market cap. Its annual sales of Rs. 24,595.05 crores account for 27.38% of the industry’s revenue, underscoring its dominant market presence.

Robust Financial Metrics Underpinning the Rally

Polycab India Ltd’s strong fundamentals have played a key role in its price appreciation. The company boasts an average Return on Equity (ROE) of 20.31%, reflecting efficient capital utilisation. Its net sales have grown at an annualised rate of 26.06%, while operating profit has expanded at an even higher rate of 31.43%, signalling healthy margin improvement alongside top-line growth.

In the latest six-month period, net sales reached Rs. 12,383.19 crores, growing by 21.45%. The company’s Return on Capital Employed (ROCE) for the half-year stood at an impressive 32.18%, while the operating profit to net sales ratio for the most recent quarter peaked at 15.76%, highlighting operational efficiency. Additionally, Polycab India Ltd maintains a low average debt-to-equity ratio of zero, indicating a conservative capital structure with minimal leverage.

Consistent Positive Results and Market Recognition

The company has reported positive results for three consecutive quarters, reinforcing its growth trajectory. Polycab India Ltd is also among the top 1% of companies rated by MarketsMojo across a universe of over 4,000 stocks, reflecting its high-quality fundamentals and market standing. Its Mojo Score currently stands at 71.0, with a Mojo Grade upgraded to Buy from Hold as of 21 July 2025, signalling improved outlook based on comprehensive analysis.

Valuation and Risk Considerations

Despite the strong fundamentals and market leadership, Polycab India Ltd’s valuation metrics indicate a premium positioning. The company’s Price to Book Value ratio is 11.1, which is considered very expensive relative to its peers’ historical averages. The Price to Earnings to Growth (PEG) ratio stands at 1.3, reflecting the relationship between its price, earnings growth, and valuation.

While the stock has generated a 9.99% return over the past year, its profits have increased by 37.2%, suggesting that the market price has not fully reflected the profit growth. However, promoter shareholding has decreased by 1.49% in the previous quarter to 61.52%, which may be viewed as a factor to monitor in terms of promoter confidence.

Sector and Market Context

Polycab India Ltd’s leadership in the Cables - Electricals sector is further emphasised by its contribution to the industry’s revenue and market capitalisation. The sector itself is witnessing steady demand, supported by infrastructure development and industrial growth. The Sensex’s current position near its 52-week high and its bullish moving averages provide a supportive backdrop for stocks like Polycab India Ltd that exhibit strong fundamentals and market dominance.

Summary of Key Metrics

To summarise, Polycab India Ltd’s new 52-week high of Rs. 7,916.5 is underpinned by:

• Market cap of Rs. 1,17,071 crores, largest in sector


• Annual sales of Rs. 24,595.05 crores, 27.38% of sector revenue


• Average ROE of 20.31% and ROCE of 32.18% (HY)


• Net sales growth at 26.06% CAGR and operating profit growth at 31.43%


• Positive quarterly results for three consecutive quarters


• Mojo Score of 71.0 with an upgraded Mojo Grade to Buy


• Trading above all major moving averages, signalling strong technical momentum

These factors collectively highlight the stock’s sustained strength and leadership within its industry, reflected in its recent price milestone.

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