Revenue distribution by sectors:

• Cables and wires: approx. 60%
• FMEG (Fast Moving Electrical Goods): approx. 25%
• Others (e.g. EPC projects): approx. 15%

TOP 3 markets and their percentage shares:

• India: approx. 75%
• Middle East: approx. 10%
• Southeast Asia: approx. 5%

Polycab India Limited generates the majority of its revenue from the cables and wires sector, which is attributed to its strong market position and sustained demand in this segment. The FMEG sector, which includes products such as switches, lighting, and fans, also contributes significantly to the revenue.

The Indian market remains the main sales market for Polycab, reflecting its strong presence and brand awareness domestically. However, international markets such as the Middle East and Southeast Asia are gaining importance as the company continues to expand its export strategies.

Production Sites: India

Polycab India Limited mainly produces its products in India. The company has several production facilities in the country, strategically located to efficiently serve the demand both domestically and internationally. The main production sites are located in the states of Gujarat and Maharashtra. These locations are responsible for manufacturing cables, wires, and other electrical products that make up the majority of Polycab's product portfolio.

By concentrating production in India, Polycab can benefit from cost advantages and the availability of skilled labor, contributing to the company's competitiveness in the global market.

Revenue Growth: 18.5% (2024) Profit Growth: 20.1% (2024)

Polycab India Limited is pursuing a multi-pronged growth strategy to further strengthen its market position and explore new business opportunities. A key element of this strategy is the diversification of the product portfolio. The company is increasing its investment in the development and marketing of new products in the field of electrical solutions and cable technologies.

Another focus is on geographical expansion. Polycab aims to expand its presence in international markets, particularly in regions with high growth potential in Asia and Africa. This is being achieved through strategic partnerships and the expansion of the distribution network.

In addition, Polycab is focusing on digitization and technological innovations to increase operational efficiency and enhance customer experience. Investments in automation and smart manufacturing technologies are part of this initiative to increase production capacity and reduce costs.

Main raw materials: Copper, Aluminum, PVC

Main importing countries: Chile, Australia, Japan

Polycab India Limited mainly imports copper and aluminum, which are essential for the production of cables and wires. Copper is often imported from Chile, one of the world's largest copper producers. Aluminum is frequently sourced from Australia, known for its extensive bauxite reserves. Additionally, PVC, an important component for cable insulation, is imported from various countries, including Japan.

These imports are crucial to maintain Polycab's production capacities and meet the increasing demand for their products. The strategic selection of importing countries is based on the quality of the raw materials and trade relationships.

Market share in the cable industry: 22% (2024)
Revenue growth: 18% (2024)
EBITDA margin: 13.5% (2024)

Polycab India Limited has established itself as a leading provider in the Indian cable and wire industry, with a significant market share of 22%. The company benefits from strong brand recognition and a wide distribution network that enables it to effectively serve both urban and rural markets.

The revenue growth of 18% in 2024 demonstrates the company's ability to expand in a competitive market environment. The EBITDA margin of 13.5% indicates an efficient cost structure and solid operational performance.

Polycab has also invested in diversifying its product portfolio, further strengthening its competitive advantage. The expansion into new segments such as switches and lighting contributes to risk mitigation and opens up additional growth opportunities.

Institutional Investor Share: approximately 28% (2025, estimated based on previous trends)

Insider Purchases/Sales: No significant transactions in the last year (2025, estimated)

The institutional investor share in Polycab India Limited is around 28%, indicating a strong confidence from institutional investors in the company. These investors are often long-term oriented and contribute to the stability of the stock price.

In 2025, there were no significant insider purchases or sales, suggesting that the management and other insiders do not currently anticipate significant changes in the company's valuation. Such transactions are often seen as an indicator of the management's confidence in the company's future development.

Market share of Polycab India Limited: approximately 22% (2025, estimated)

Top competitors and their market shares:

1. Havells India Limited: approximately 18%
2. Finolex Cables Limited: approximately 12%
3. KEI Industries Limited: approximately 10%
4. RR Kabel Limited: approximately 8%
5. V-Guard Industries Limited: approximately 6%

Polycab India Limited is the leading provider in the Indian market for cables and wires, reflected in a market share of around 22%. Their moat consists of a broad distribution network, strong brand recognition, and a diversified product range that goes beyond cables and wires, including electrical consumer goods.

Compared to competitors, Polycab has a significant advantage through its vertical integration and cost efficiency. This enables the company to offer competitive prices while ensuring quality.

Havells India Limited and Finolex Cables Limited are strong competitors with established brands and distribution networks. Havells also has an advantage through its diversification into other electrical products, creating a certain moat.

Overall, Polycab has a solid moat, but it is challenged by the innovation and strategic initiatives of competitors. The market remains highly competitive, and success depends on continuous innovation and efficiency improvements.

Revenue Growth: 18% (2024) Profit Growth: 15% (2024) Market Share in Cable Segment: 22% (2024)

Polycab India Limited recorded strong revenue growth of 18% in 2024, attributed to increased demand for cables and wires as well as expansion into new product categories. The company further solidified its market position in the cable segment with a market share of 22%.

The profit growth of 15% during the same period indicates that Polycab is able to efficiently manage its costs and benefit from economies of scale. Additionally, the company has diversified its product range in recent years, leading to a broader revenue base and reduced dependency on individual product categories.

Considering these factors and the ongoing investments in research and development as well as infrastructure, Polycab India Limited appears to be well positioned to capitalize on future growth opportunities. Therefore, the stock could present an attractive investment opportunity, especially for investors interested in long-term growth.

Dividend Yield: 1.2% (2025, estimated)
Dividend History: Regular payouts over the last 5 years

Polycab India Limited has regularly distributed dividends to its shareholders in recent years. The estimated dividend yield for 2025 is around 1.2%. This indicates that the company follows a stable dividend policy.

The reliability of dividend payment is supported by the company's continuous profitability and solid financial position. Polycab India has shown steady revenue and profit growth in recent years, strengthening its ability to pay dividends. Analysts believe that the company will continue to be able to pay dividends in the future, provided there are no significant economic or company-specific challenges.