Strong Rally and Market Context
On 26 Feb 2026, Polycab India Ltd’s stock price surged to Rs.8478.45, representing a gain of 1.01% on the day and aligning with the sector’s overall performance. The stock has recorded gains for five consecutive trading sessions, delivering an impressive 8.41% return over this period. This sustained upward movement has propelled the share price well above its key moving averages, including the 5-day, 20-day, 50-day, 100-day, and 200-day averages, signalling strong technical momentum.
The broader market environment also provided a supportive backdrop. The Sensex opened higher at 82,418.78, up 142.71 points or 0.17%, and was trading near this level throughout the day. Although the Sensex remains 4.55% below its own 52-week high of 86,159.02, mega-cap stocks are leading the market gains, contributing to the positive sentiment that has buoyed Polycab India’s shares.
Impressive One-Year Performance
Over the past year, Polycab India Ltd has delivered a remarkable 46.83% return, significantly outperforming the Sensex’s 10.42% gain during the same period. The stock’s 52-week low was Rs.4557.45, highlighting the substantial appreciation in value over the last twelve months. This performance places Polycab India among the top performers in the cables electricals sector and underscores its leadership position.
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Robust Financial Fundamentals
Polycab India Ltd’s strong share price performance is underpinned by solid financial metrics. The company boasts an average Return on Equity (ROE) of 20.31%, reflecting efficient utilisation of shareholder capital. Net sales have grown at an annualised rate of 27.66%, while operating profit has expanded even faster at 32.93%, indicating healthy margin improvement and operational efficiency.
Notably, the company maintains a low average debt-to-equity ratio of zero, highlighting a conservative capital structure that reduces financial risk. The latest six-month period saw a Profit After Tax (PAT) of Rs.1,307.15 crores, representing a 45.66% increase compared to the previous corresponding period. Return on Capital Employed (ROCE) for the half-year reached a high of 32.18%, further emphasising the company’s effective capital deployment.
Sector Leadership and Market Capitalisation
With a market capitalisation of Rs.1,25,588 crores, Polycab India Ltd is the largest company in the cables electricals sector, accounting for 39.80% of the sector’s total market value. Its annual sales of Rs.27,005.12 crores represent 29.35% of the industry’s revenue, underscoring its dominant market position. The company’s scale and consistent financial performance have contributed to its elevated standing within the sector and broader market.
Institutional Confidence and Quality Ratings
Institutional investors hold a significant 25.95% stake in Polycab India Ltd, reflecting confidence from entities with extensive resources and analytical capabilities. The company is rated highly by MarketsMojo, with a Mojo Score of 78.0 and a current Mojo Grade of Buy, upgraded from Hold on 21 Jul 2025. It ranks among the top 1% of all 4,000 stocks rated by MarketsMojo, positioned 12th among large caps and 50th across the entire market, highlighting its quality and growth credentials.
Valuation Considerations
Despite its strong fundamentals and market leadership, Polycab India Ltd carries a premium valuation. The stock trades at a Price to Book Value of 11.9, which is considered very expensive relative to its peers’ historical averages. The company’s Return on Equity of 23.2% and a Price/Earnings to Growth (PEG) ratio of 1.1 indicate that the market has priced in substantial growth expectations. Over the past year, profits have risen by 42.8%, closely tracking the stock’s 46.83% return, suggesting valuation levels are aligned with earnings growth.
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Consistent Returns and Sector Outperformance
Polycab India Ltd has demonstrated consistent returns over the last three years, outperforming the BSE500 index in each annual period. This track record of sustained growth and profitability has reinforced its reputation as a leading stock within the cables electricals sector. The company’s ability to maintain positive results for four consecutive quarters further highlights its operational resilience and steady earnings trajectory.
Summary of Key Metrics
To summarise, Polycab India Ltd’s recent surge to a new 52-week high of Rs.8478.45 is supported by:
- Five consecutive days of gains, with an 8.41% return over this period
- Strong one-year return of 46.83%, outperforming the Sensex by over 36 percentage points
- Robust financials including 20.31% average ROE, 27.66% annual net sales growth, and 32.93% operating profit growth
- Market leadership with Rs.1,25,588 crore market cap and nearly 40% sector market share
- High institutional ownership at 25.95% and top-tier MarketsMojo ratings
- Premium valuation reflecting growth expectations, with a Price to Book of 11.9 and PEG ratio of 1.1
This combination of strong fundamentals, market dominance, and positive price momentum has culminated in the stock reaching this notable milestone.
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