POLYCAB

(NSE: POLYCAB) — one of India’s largest cables, wires, and electrical products manufacturers Growth & Earnings Polycab reported strong quarterly revenue and profit growth, with high-teen to double-digit increases in sales and EBITDA expansion. The company beat revenue targets for FY26 early and has record annual revenue from FY25. Dividend payouts have been robust, reflecting consistent profitability. 📊 Valuation The stock trades at relatively high multiples (PE 40-45x) versus some peers, which signals premium expectations but also valuation risk if earnings disappoint. 📌 Industry & Competitive Position Polycab’s wires & cables segment remains core, with strong market share gains and capex demand support. The FMEG (Fast-Moving Electrical Goods) segment and exports are emerging as new growth drivers. Competition from new entrants (e.g., UltraTech’s planned cables business) could exert margin pressure long-term.