Polycab India Limited (POLYCAB) - Net Assets

Latest as of June 2026: Rs122.32 Billion INR ≈ $1.32 Billion USD

Based on the latest financial reports, Polycab India Limited (POLYCAB) has net assets worth Rs122.32 Billion INR (≈ $1.32 Billion USD) as of June 2026. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (Rs214.50 Billion ≈ $2.32 Billion USD) and total liabilities (Rs92.18 Billion ≈ $996.93 Million USD). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off. Check POLYCAB capital-intensive asset ratio to assess the company's strategic physical and investment asset allocation.

Key Net Assets Metrics

Metric	Value
Current Net Assets	Rs122.32 Billion
% of Total Assets	57.02%
Annual Growth Rate	18.93%
5-Year Change	117.76%
10-Year Change	507.31%
Growth Volatility	7.03

Polycab India Limited - Net Assets Trend (2014–2026)

This chart illustrates how Polycab India Limited's net assets have evolved over time, based on quarterly financial data. For live market cap and overall valuation, see market cap of Polycab India Limited.

Annual Net Assets for Polycab India Limited (2014–2026)

The table below shows the annual net assets of Polycab India Limited from 2014 to 2026. Also explore Polycab India Limited annual equity growth to track the company's year-over-year net asset growth rate.

Year	Net Assets	Change
2026-03-31	Rs121.27 Billion ≈ $1.31 Billion	+22.41%
2025-03-31	Rs99.07 Billion ≈ $1.07 Billion	+20.18%
2024-03-31	Rs82.43 Billion ≈ $891.49 Million	+23.62%
2023-03-31	Rs66.69 Billion ≈ $721.17 Million	+19.75%
2022-03-31	Rs55.69 Billion ≈ $602.25 Million	+16.68%
2021-03-31	Rs47.73 Billion ≈ $516.16 Million	+23.92%
2020-03-31	Rs38.51 Billion ≈ $416.52 Million	+34.88%
2019-03-31	Rs28.55 Billion ≈ $308.80 Million	+21.32%
2018-03-31	Rs23.54 Billion ≈ $254.53 Million	+17.87%
2017-03-31	Rs19.97 Billion ≈ $215.95 Million	+11.83%
2016-03-31	Rs17.86 Billion ≈ $193.10 Million	+7.66%
2015-03-31	Rs16.59 Billion ≈ $179.37 Million	+9.50%
2014-03-31	Rs15.15 Billion ≈ $163.80 Million	--

Equity Component Analysis

This analysis shows how different components contribute to Polycab India Limited's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.

Equity Composition Insights

Retained earnings have grown by 1029.9% over the analyzed period, indicating profitable operations and earnings retention.

Current Equity Component Breakdown (March 2026)

Component	Amount	Percentage
Retained Earnings	Rs107.98 Billion	89.92%
Common Stock	Rs1.51 Billion	1.25%
Other Comprehensive Income	Rs1.57 Billion	1.31%
Other Components	Rs9.03 Billion	7.52%
Total Equity	Rs120.09 Billion	100.00%

Polycab India Limited Competitors by Market Cap

The table below lists competitors of Polycab India Limited ranked by their market capitalization.

Company	Market Cap
Straumann Holding AG SW:STMN	$13.27 Billion
CGI Inc TO:GIB-A	$13.30 Billion
Jiangsu Wujiang China Eastern Silk Market Co Ltd SHE:000301	$13.30 Billion
Yangzijiang Shipbuilding (Holdings) Ltd F:B8O	$13.31 Billion
Sprott Physical Silver TO:PSLV	$13.25 Billion
Yunnan Baiyao Group Co Ltd SHE:000538	$13.25 Billion
Zhejiang Satellite Petrochemical Co Ltd SHE:002648	$13.24 Billion
The Siam Commercial Bank Public Company Limited BK:SCB-R	$13.22 Billion

Equity Growth Attribution

This analysis shows how different factors contributed to changes in Polycab India Limited's equity between the two most recent reporting periods.

Equity Growth Insights

From 2025 to 2026, total equity changed from 98,250,250,000 to 120,085,760,000, a change of 21,835,510,000 (22.2%).
Net income of 26,720,330,000 contributed positively to equity growth.
Dividend payments of 5,472,710,000 reduced retained earnings.
New share issuances of 52,560,000 increased equity.
Other comprehensive income increased equity by 600,020,000.

Equity Change Factors (2025 to 2026)

Factor	Impact	Contribution
Net Income	Rs26.72 Billion	+22.25%
Dividends Paid	Rs5.47 Billion	-4.56%
Share Issuances	Rs52.56 Million	+0.04%
Other Comprehensive Income	Rs600.02 Million	+0.5%
Other Changes	Rs-64.69 Million	-0.05%
Total Change	Rs-	22.22%

Book Value vs Market Value Analysis

This analysis compares Polycab India Limited's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.

Valuation Insights

Current price-to-book ratio: 10.24x
The company is trading at a significant premium to its book value, suggesting the market values its earnings potential, brand, or other intangibles highly.
The price-to-book ratio has decreased from 77.61x to 10.24x over the analyzed period, indicating reduced market premium.

Historical Price-to-Book Ratios

Date	Book Value per Share	Market Price	P/B Ratio
2014-03-31	Rs104.92	Rs8143.50	x
2015-03-31	Rs115.45	Rs8143.50	x
2016-03-31	Rs126.25	Rs8143.50	x
2017-03-31	Rs141.19	Rs8143.50	x
2018-03-31	Rs166.38	Rs8143.50	x
2019-03-31	Rs201.61	Rs8143.50	x
2020-03-31	Rs257.63	Rs8143.50	x
2021-03-31	Rs317.75	Rs8143.50	x
2022-03-31	Rs369.77	Rs8143.50	x
2023-03-31	Rs441.78	Rs8143.50	x
2024-03-31	Rs543.76	Rs8143.50	x
2025-03-31	Rs650.78	Rs8143.50	x
2026-03-31	Rs795.24	Rs8143.50	x

Capital Efficiency Dashboard

This dashboard shows how efficiently Polycab India Limited utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.

Capital Efficiency Insights

Current Return on Equity (ROE): 22.25%
The company demonstrates strong efficiency in generating profits from shareholder equity.
DuPont Analysis Breakdown:
• Net Profit Margin: 9.25%
• Asset Turnover: 1.41x
• Equity Multiplier: 1.71x
Recent ROE (22.25%) is above the historical average (16.50%), indicating improving capital efficiency.

Historical Capital Efficiency Metrics

Year	Return on Equity	Net Profit Margin	Asset Turnover	Equity Multiplier	Economic Value Added
2014	11.08%	3.49%	1.70x	1.86x	Rs160.57 Million
2015	10.08%	3.49%	1.42x	2.03x	Rs12.79 Million
2016	10.37%	3.55%	1.34x	2.17x	Rs65.15 Million
2017	11.67%	4.23%	1.20x	2.30x	Rs333.26 Million
2018	15.24%	5.29%	1.52x	1.89x	Rs1.23 Billion
2019	17.55%	6.26%	1.42x	1.98x	Rs2.15 Billion
2020	19.79%	8.60%	1.48x	1.55x	Rs3.75 Billion
2021	18.56%	10.03%	1.25x	1.48x	Rs4.07 Billion
2022	16.39%	7.45%	1.65x	1.34x	Rs3.54 Billion
2023	19.16%	9.01%	1.50x	1.42x	Rs6.08 Billion
2024	21.79%	9.89%	1.49x	1.48x	Rs9.65 Billion
2025	20.56%	9.01%	1.63x	1.40x	Rs10.37 Billion
2026	22.25%	9.25%	1.41x	1.71x	Rs14.71 Billion

Industry Comparison

This section compares Polycab India Limited's net assets metrics with peer companies in the Electrical Equipment & Parts industry.

Industry Context

Industry: Electrical Equipment & Parts
Average net assets among peers: $6,778,668,600
Average return on equity (ROE) among peers: 8.69%

Peer Company Comparison

Company	Net Assets	Return on Equity	Debt-to-Equity	Market Cap
Polycab India Limited (POLYCAB)	Rs122.32 Billion	11.08%	0.75x	$13.27 Billion
Apar Industries Limited (APARINDS)	$928.28 Million	33.97%	4.84x	$7.19 Billion
Amara Raja Batteries Limited (ARE&M)	$10.60 Billion	27.05%	0.67x	$1.58 Billion
Bharat Bijlee Limited (BBL)	$13.78 Billion	6.04%	0.49x	$266.49 Million
CG Power and Industrial Solutions Limited (CGPOWER)	$27.14 Billion	-26.48%	2.36x	$14.62 Billion
Cords Cable Industries Limited (CORDSCABLE)	$2.02 Billion	10.23%	1.43x	$49.53 Million
De Nora India Limited (DENORA)	$519.24 Million	5.74%	0.23x	$45.84 Million
Dynamic Cables Limited (DYCL)	$2.14 Billion	17.65%	1.33x	$226.71 Million
Elin Electronics Limited (ELIN)	$2.62 Billion	13.29%	0.94x	$46.85 Million
Eveready Industries India Limited (EVEREADY)	$5.72 Billion	-3.38%	1.20x	$264.71 Million
Exicom Tele-Systems Limited (EXICOM)	$2.32 Billion	2.75%	2.04x	$253.33 Million

About Polycab India Limited

NSE:POLYCAB India Electrical Equipment & Parts

Market Cap

$13.27 Billion

Rs1.23 Trillion INR

Market Cap Rank

#1795 Global

#62 in India

Share Price

Rs8143.50

Change (1 day)

-1.18%

52-Week Range

Rs6722.00 - Rs10083.00

All Time High

Rs10083.00