Polycab Share Price Target 2026, 2027, 2028, 2029, 2030
- Market Cap
- ₹1,38,224 Cr
- Book Value
- ₹797.9
- Stock P/E
- 48.3
- Dividend Yield
- 0.51%
- ROE
- 23.1%
- ROCE
- 33.2%
- PEG Ratio
- 2.04
- EV/EBITDA
- 30.3
Fundamentals from Screener.in, as of 5 Aug 2026. Live price via Yahoo Finance.
Technical snapshot
EOD ·Polycab India Ltd closed at ₹9,140.00 on 19 August 2026, up 0.0% on the day, 2.3% below its 50-day average, 9.7% below its 52-week high, with volume at 1.28× its 20-session average.
- RSI 14
- 47.5
- vs 50-day SMA
- -2.3%
- vs 200-day SMA
- +10.8%
- From 52-week high
- -9.7%
- Relative volume
- 1.28×
- 20-day return
- +0.5%
End-of-day prices from exchange-published files (NSE/BSE bhavcopy), updated after market close. Descriptive statistics, not investment advice.
Polycab share price today
Polycab India (NSE: POLYCAB) sells the least glamorous product in the electrification story — wire — and has turned it into market leadership with 27% five-year sales CAGR and 33% ROCE. Every solar park, data centre, metro line, real-estate tower and rural electrification scheme in India needs kilometres of cable, and Polycab makes more of it than anyone else.
At 48× earnings the stock trades as a capex proxy with brand economics. The scenarios below test both halves of that claim.
A commodity product, a non-commodity business
Cables should be a commodity; three things stop that. Brand and safety: electricians and contractors specify names they trust — fires are career-ending — and Polycab’s brand spend built exactly that trust in the trade. Distribution: over two lakh retail touchpoints no challenger replicates quickly. Scale purchasing: copper and aluminium bought at Polycab’s volumes beat smaller rivals’ costs structurally. The FMEG segment (fans, lights, switches) is the optional upside — still sub-scale in margins, but riding the same channel.
What matters next: copper-price pass-through lags (quarterly margin noise), the capex cycle’s breadth (private + public + real estate all matter), and the “Project Leap” growth targets against rising competition — every large player is adding cable capacity now.
The numbers
Financial snapshot — 5 August 2026
| Metric | Value |
|---|---|
| Market cap | ₹1,38,224 Cr |
| P/E (TTM) | 48.3 |
| EV/EBITDA | 30.3 |
| Operating margin | 13.7% |
| ROE / ROCE | 23.1% / 33.2% |
| Debt to equity | 0.02 |
| Sales CAGR (5y) | 26.9% |
| Profit CAGR (5y) | 23.7% |
| Promoter holding | 61.5% (zero pledged) |
| EPS (TTM) | ₹190.1 |
Polycab share price target 2026 to 2030
EPS base ₹190.1 (TTM). Bear: capex cycle cools and capacity additions compress industry margins — 10% growth, multiple de-rates to 32×. Base: electrification demand outruns new capacity — 17% growth at 40×. Bull: exports plus FMEG margin turn — 22% growth at 48×.
From ₹9,176, the base case is ≈ +82% over four and a half years. The bear case is modestly positive — a fairer setup than most 48× stocks because earnings, not just the multiple, have been doing the work. The cycle remains decisive as industry capacity expands alongside demand.
What supports the case
- Leadership in the product every electrification rupee eventually buys — cables are the common denominator of solar, data centres, metros and housing.
- 33% ROCE on near-zero debt in a working-capital-heavy industry — operational proof.
- Trade-brand moat: electricians specify Polycab; safety reputation compounds.
- Two-lakh-outlet distribution network — years to replicate.
- FMEG optionality: same channel, underearning today, a margin story if fixed.
The risks: copper volatility (pass-through lags), industry capacity additions pressuring spreads, and cyclicality that a 48× multiple pretends not to see.
What to weigh at the current price
The tension is whether electrification demand and FMEG improvement can stay ahead of new cable capacity before copper volatility or a capex slowdown tests the 48× multiple.
FAQ
What is the Polycab share price target for 2030? The table above sets out bear, base and bull scenarios for each year to 2030. They are valuation sensitivities, not promised prices.
Why do cables earn such high returns for Polycab? Brand trust in the trade channel, unmatched distribution, and raw-material scale — three moats stacked on a product everyone else treats as commodity.
What is Polycab’s biggest risk? The capex cycle plus industry capacity additions — cable spreads compress when everyone expands into a slowdown.
When are Polycab’s next results? Check the results calendar and confirm the announced date in the relevant exchange filing.
This article is research and education, not personalised investment advice. We are not SEBI-registered advisers. Price targets are scenario arithmetic, not promises. Do your own research and consult a registered adviser before acting.