Polycab India Share Price Target 2027: Rs 9,498 Base, Rs 11,379 Bull and the Risks to Watch

Investors weighing a Polycab India target price for 2027 should start with where the stock sits today. At Rs 7,871.50 on 5 November 2026, it is 22.3% below its 52-week high of Rs 10,126.00 and 18.1% above its 52-week low of Rs 6,663.00. That range spans 52% from low to high, so the entry point matters as much as the Polycab India price forecast itself.

This article builds the Polycab India share price target from reported numbers only: five years of annual results, the last five quarters, the latest shareholding pattern and current valuation ratios from company filings and exchange data. Each scenario states its assumptions, so you can trace how the base case, the bull case and the downside risk level were reached and test them against your own view.

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Polycab India Stock Analysis: Company Overview and Key Stats

Polycab India (NSE: POLYCAB) has a market capitalisation of Rs 1,19,284 crore. In FY26 it reported revenue of Rs 29,120 crore and net profit of Rs 2,708 crore. The table collects the figures the Polycab India share price target is built on.

Metric	Value
Company	Polycab India
NSE Ticker	POLYCAB
CMP (5 November 2026)	Rs 7,871.50
52-Week High	Rs 10,126.00
52-Week Low	Rs 6,663.00
Market Cap	Rs 1,19,284 crore
PE Ratio (TTM)	37.25
Industry PE	37.67
Price to Book	9.11
Return on Equity	24.10%
Debt to Equity	0.02
EPS (TTM)	Rs 212.49
Dividend Yield	0.59%
12-Month Base Target	Rs 9,498
Bull Case	Rs 11,379
Downside Risk Level (not a target)	Rs 6,332

Why Is Polycab India Share Price Target Set at Rs 9,498 for 2027?

The arithmetic is short. Trailing EPS of Rs 212.49 grown for one year gives a forward EPS estimate of Rs 254.99, and multiplying it by the unchanged PE of 37.25 gives the Rs 9,498 base-case Polycab India stock target. The bull case adds faster earnings growth and a higher multiple, while the downside risk level assumes flat earnings and a lower multiple.

Earnings Growth Behind the Polycab India Target Price: Five Years of Results

Polycab India grew revenue from Rs 12,294 crore in FY22 to Rs 29,120 crore in FY26, a compound annual growth rate of 24.1%. Net profit grew faster, from Rs 845.23 crore to Rs 2,708 crore (33.8% a year), which shows margin gains did part of the work and not just higher sales.

Financial Year	Revenue (Rs Cr)	Net Profit (Rs Cr)	EPS (Rs)	Dividend per Share (Rs)
FY22	12,293.68	845.23	60.60	14.00
FY23	14,241.10	1,282.25	84.61	20.00
FY24	18,260.32	1,802.92	118.49	30.00
FY25	22,615.95	2,045.54	133.80	35.00
FY26	29,120.04	2,708.43	176.95	47.00

FY26 revenue growth was 28.8%, faster than the four-year average of 24.1%, and net profit moved up 32.4%. EPS rose from Rs 118.49 in FY24 to Rs 176.95 in FY26. The FY27 outlook depends on whether that EPS estimate keeps compounding.

Margins and the Latest Quarter

Polycab India converted 9.3% of FY26 revenue into net profit, against 9.0% in FY25, within a five-year range of 6.9% to 9.9%. EBITDA margin was 14.6% in FY26 versus 14.0% in FY25.

In the September 2026 quarter, revenue was Rs 9,987 crore, up 53.1% from the same quarter a year earlier, while net profit of Rs 990 crore was up 42.9%. EBITDA came in at Rs 1,511 crore, up 41.7% year on year. The next quarterly result is the first test of whether the earnings assumption holds.

Balance Sheet and Cash Flow

Debt to equity stands at 0.02, and shareholders' equity grew from Rs 5,569 crore in FY22 to Rs 12,127 crore in FY26. Operating cash flow in FY26 was Rs 3,811 crore against capital expenditure of Rs 1,481 crore, leaving free cash flow of Rs 2,330 crore, or 2.0% of the current market capitalisation. In FY25 free cash flow was Rs 838.80 crore.

Valuation Check for the Polycab India Stock Target: PE, Price to Book and ROE

At a PE of 37.25 against an industry PE of 37.67, Polycab India trades in line with its industry. Price to book is 9.11 on a book value of Rs 868.85 per share, and return on equity is 24.10%. A PE of 37.25 equals an earnings yield of 2.7%, and the FY26 dividend of Rs 47.00 per share gives a yield of 0.59%.

Shareholding Pattern and Institutional Holding

Promoters held 61.44% of Polycab India in September 2026, and promoter holding has stayed near 61.44% since September 2025. Foreign institutional investors (FII) held 18.06% and domestic institutions (DII) held 7.73%, which puts total institutional holding at 25.79%. FII holding rose from 13.97% in September 2025 to 18.06% in September 2026. Public shareholders own the remaining 12.77%. A meaningful institutional holding adds a layer of research coverage and trading depth.

Polycab India Share Price Targets for the Short Term and 12 Months

Short Term Polycab India Stock Target Levels: Technical Setup

At Rs 7,871.50 on 5 November 2026, Polycab India trades below its 50-day simple moving average of Rs 8,255.90 and below its 200-day exponential moving average of Rs 8,328.00. The 14-day RSI reads 39.7, which is neutral territory, and the MACD line sits above its signal line. The nearest resistance level is Rs 8,255.90 (50-day simple moving average) and the nearest support is Rs 6,663.00 (52-week low). A sustained move above Rs 8,255.90 would improve the short-term setup, while a close below Rs 6,663.00 would shift attention to the next support.

12 Month Polycab India Target Price for 2027

The 12-month target of Rs 9,498 means a move of 20.7% up from Rs 7,871.50 over the next 12 months. It would still leave the stock 6.2% below its 52-week high of Rs 10,126.00. Anyone checking the Polycab India share price target against their own view should focus on two inputs: the EPS estimate and the PE multiple.

How EPS Growth and PE Multiple Change the Polycab India Target Price

EPS Growth	PE 29.80	PE 37.25	PE 42.84
0.0% (EPS Rs 212.49)	Rs 6,332	Rs 7,915	Rs 9,103
20.0% (EPS Rs 254.99)	Rs 7,599	Rs 9,498	Rs 10,924
25.0% (EPS Rs 265.61)	Rs 7,915	Rs 9,894	Rs 11,379

Each cell multiplies the forward EPS estimate by the PE shown. Reading across a row shows what a de-rating or re-rating does to the Polycab India price forecast, and reading down a column shows what earnings growth is worth at a fixed multiple.

Bull Case and Downside Risk for Polycab India Stock Target in 2027

Bull Case Rs 11,379

The bull case Polycab India price target needs EPS growth of 25.0%, which lifts forward EPS to Rs 265.61, and a PE multiple that rises 15% to 42.84. That gives Rs 11,379, 44.6% above the current price and above the 52-week high of Rs 10,126.00, so the stock would have to set a fresh 52-week high.

Downside Risk Level Rs 6,332

The downside risk level is not a target. It assumes EPS stays flat at Rs 212.49 and the PE falls 20% to 29.80. That gives Rs 6,332, 19.6% below the current price and below the 52-week low of Rs 6,663.00.

Scenario	EPS Growth	PE Multiple	Price (Rs)	Change vs CMP
Bull Case	25.0%	42.84	Rs 11,379	+44.6%
Base Case	20.0%	37.25	Rs 9,498	+20.7%
Downside Risk	0.0%	29.80	Rs 6,332	-19.6%

Key Risks to the Polycab India Target Price for 2027

Growth Slowdown Risk for the Polycab India Price Target

Revenue in the September 2026 quarter was up 53.1% year on year, and FY26 revenue growth was 28.8%. If growth slows from here, the EPS estimate behind the Polycab India stock target will need revising.

Liquidity and Size Risk

Polycab India has a market capitalisation of Rs 1,19,284 crore. Institutional holding is 25.79%, and promoters hold 61.44%. A company of this size trades with deep liquidity, so entry and exit are rarely a problem, and the larger risk is paying too much for slow earnings growth.

Valuation and Margin Risk

Net margin was 9.3% in FY26, so a small slip in costs moves profit noticeably. At a PE of 37.25 versus an industry PE of 37.67, a de-rating toward the downside-risk PE of 29.80 would cut the price even if earnings hold.

Market and Technical Risk

Technical indicators add short-term risk: the 14-day RSI is 39.7 and the MACD sits above its signal line. A broad fall in the Nifty 50 or the Sensex can override company fundamentals for weeks at a time.

How to Invest in Polycab India

Start with the live price and volume. Any Polycab India share price target is only as current as the data behind it, and the data here is as of 5 November 2026, so refresh the Rs 7,871.50 price before acting on any level.

Next, review the fundamentals yourself. The Univest Screener lets you check Polycab India's PE, ROE, debt and shareholding in one place.

Check Polycab India fundamentals on the Univest Screener

Then compare the three Polycab India target price scenarios with your own view. If you expect EPS growth below 20.0%, the base case is too optimistic for you; if you expect more, the bull case deserves weight.

Decide your position size and exit levels before you buy. The support and resistance levels above can serve as reference points, but they are not recommendations.

Finally, place the order through a SEBI-registered broker or the Univest app, and review the position after each quarterly result. Consult a SEBI-registered advisor if you are unsure.

Download the Univest iOS App or Univest Android App to track Polycab India live price and get daily stock recommendations.

Conclusion

The Polycab India share price target for 2027 is Rs 9,498 in the base case, with Rs 11,379 as the bull case. The support for that view is arithmetic you can check: EPS grew 22.2% a year over FY24 to FY26, and the stock trades at a PE of 37.25. The risks are equally concrete, including a net margin of just 9.3% that leaves profit sensitive to costs and a downside scenario that cuts the price 20% if earnings stall. Use these numbers as a framework, check them against the latest filings, and size any position to your own risk appetite.

FAQs on Polycab India Share Price Target 2027

What is the Polycab India share price target for 2027?

Ans. The base-case Polycab India share price target for 2027 is Rs 9,498, which is 20.7% above the price of Rs 7,871.50 on 5 November 2026. The bull case is Rs 11,379 and the downside risk level, which is not a target, is Rs 6,332. All three come from one method: forward EPS multiplied by a PE multiple, using only reported results. They are model estimates and not guaranteed outcomes, and the next quarterly result is the first check on the EPS assumption.

What is the Polycab India share price today?

Ans. As of 5 November 2026, 11:30 AM IST, Polycab India (NSE: POLYCAB) trades at Rs 7,871.50, down 0.74% on the day. That is 22.3% below the 52-week high of Rs 10,126.00 and 18.1% above the 52-week low of Rs 6,663.00. The market capitalisation of Rs 1,19,284 crore places it among large-cap stocks. Prices change through the trading session, so check the live quote before acting on any level in this article.

Is Polycab India a buy or sell at the current price?

Ans. The data points both ways. On the positive side, EPS has grown 22.2% a year over FY24 to FY26 and the base case implies 20.7% upside; on the cautious side, the net margin is a thin 9.3%, and the downside risk level of Rs 6,332 is 20% below the current price. Whether Polycab India fits your portfolio depends on your time horizon, position size and risk appetite. Consult a SEBI-registered advisor before investing, as this article is not investment advice.

What are the bull case target and downside risk level for Polycab India shares?

Ans. The bull case in the Polycab India share price target for 2027 is Rs 11,379, which assumes 25.0% EPS growth and a PE of 42.84, a 15% re-rating from today's multiple. That is 44.6% above the current price and above the 52-week high of Rs 10,126.00, so the stock would have to set a fresh 52-week high. The downside risk level is Rs 6,332, which assumes flat EPS and a PE of 29.80, 20% lower than today. It sits 19.6% below the current price and below the 52-week low of Rs 6,663.00, and it marks a risk to watch, not a target.

What are the main risks to the Polycab India price target?

Ans. Four risks matter most for the Polycab India share price target: slower revenue or profit growth, a PE de-rating, thin liquidity or size risk, and weakness in the broader market. The market capitalisation of Rs 1,19,284 crore means liquidity is deep, so the bigger risk is paying a full price for slow earnings growth. A fall to the downside-risk PE of 29.80 would cut the price even if earnings hold.

What is the PE ratio of Polycab India and how does it compare with the industry?

Ans. The PE ratio of Polycab India is 37.25, against an industry PE of 37.67, which is a level close to the industry. Price to book is 9.11 and return on equity is 24.10%, and the PE equals an earnings yield of 2.7%. The base case holds the PE unchanged, so the Polycab India share price target moves only with earnings, while the bull and downside scenarios change the multiple by +15% and -20%.

Who owns Polycab India, and what is the promoter holding?

Ans. Promoters held 61.44% of Polycab India in September 2026. FII held 18.06%, DII held 7.73% and the public held 12.77%. Together the two institutional groups hold 25.79%. Shareholding is filed every quarter, so it is worth rechecking after each result.

What were Polycab India's latest quarterly results?

Ans. In the September 2026 quarter, Polycab India reported revenue of Rs 9,987 crore (up 53.1% year on year) and net profit of Rs 990 crore (up 42.9%). For comparison, FY26 full-year revenue growth was 28.8% and net profit moved up 32.4%. Each new quarter either supports or weakens the EPS growth of 20.0% assumed in the base case.