{"id":3841,"date":"2024-03-07T05:50:45","date_gmt":"2024-03-07T05:50:45","guid":{"rendered":"https:\/\/wp-api.pocketful.in\/blog\/?p=3841"},"modified":"2025-03-04T05:15:47","modified_gmt":"2025-03-04T05:15:47","slug":"polycab-case-study-business-model-financials-competitors-and-growth-outlook","status":"publish","type":"post","link":"https:\/\/wp-api.pocketful.in\/blog\/polycab-case-study-business-model-financials-competitors-and-growth-outlook\/","title":{"rendered":"Polycab Case Study: Business Model, Financials, Competitors, and Growth Outlook"},"content":{"rendered":"\n<p>Polycab India is one of the leading manufacturers of wires and cables in the nation. It is engaged in the business of manufacturing wires and cables. Along with these products, Polycab offers FMCG products such as electric fans, LED lighting and luminaires, switches &amp; switchgear, solar products, and conduits &amp; accessories. Let\u2019s look at its company profile, financials, market position, and segments.&nbsp;<\/p>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_65 counter-hierarchy ez-toc-counter ez-toc-transparent ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/wp-api.pocketful.in\/blog\/polycab-case-study-business-model-financials-competitors-and-growth-outlook\/#All_About_Polycab\" title=\"All About Polycab \">All About Polycab <\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/wp-api.pocketful.in\/blog\/polycab-case-study-business-model-financials-competitors-and-growth-outlook\/#Products_Offered_by_Polycab\" title=\"Products Offered by Polycab \">Products Offered by Polycab <\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/wp-api.pocketful.in\/blog\/polycab-case-study-business-model-financials-competitors-and-growth-outlook\/#Project_Leap\" title=\"Project Leap\">Project Leap<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/wp-api.pocketful.in\/blog\/polycab-case-study-business-model-financials-competitors-and-growth-outlook\/#Competitors_of_Polycab\" title=\"Competitors of Polycab \">Competitors of Polycab <\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/wp-api.pocketful.in\/blog\/polycab-case-study-business-model-financials-competitors-and-growth-outlook\/#A_New_Era\" title=\"A New Era\">A New Era<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/wp-api.pocketful.in\/blog\/polycab-case-study-business-model-financials-competitors-and-growth-outlook\/#Growth_Outlook\" title=\"Growth Outlook\">Growth Outlook<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/wp-api.pocketful.in\/blog\/polycab-case-study-business-model-financials-competitors-and-growth-outlook\/#Conclusion\" title=\"Conclusion\">Conclusion<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/wp-api.pocketful.in\/blog\/polycab-case-study-business-model-financials-competitors-and-growth-outlook\/#Frequently_Asked_Questions_FAQs\" title=\"Frequently Asked Questions (FAQs)\">Frequently Asked Questions (FAQs)<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\" id=\"h-all-about-polycab\"><span class=\"ez-toc-section\" id=\"All_About_Polycab\"><\/span>All About Polycab <span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>This reputed company was incorporated in 1964, in Mumbai as a private limited company under the Companies Act, of 1956. The company\u2019s consolidated turnover of INR 14,108 Crores in FY23. The company focuses on brand positioning, new product development, scaling operations, customer-centricity, talent acquisition, go-to-market excellence, and good governance.&nbsp;<\/p>\n\n\n\n<p>In FY23, the revenue of Polycab contributed to a consolidated 9.8% of the revenue in international business. The company also has expanded its footprint in 93 countries. The company is enhancing its reach and distribution in B2C business and increasing its presence in white spaces for B2B business.&nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-image aligncenter size-large is-resized\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"1024\" src=\"https:\/\/cms-resources.pocketful.in\/blog\/wp-content\/uploads\/2024\/03\/Manufacturing-Process-amico-1.png\" alt=\"Wire manufacturing - Polycab\" class=\"wp-image-3844\" style=\"aspect-ratio:1.3333333333333333;object-fit:cover;width:411px;height:auto\" srcset=\"https:\/\/cms-resources.pocketful.in\/blog\/wp-content\/uploads\/2024\/03\/Manufacturing-Process-amico-1-1024x1024.png 1024w, https:\/\/cms-resources.pocketful.in\/blog\/wp-content\/uploads\/2024\/03\/Manufacturing-Process-amico-1-300x300.png 300w, https:\/\/cms-resources.pocketful.in\/blog\/wp-content\/uploads\/2024\/03\/Manufacturing-Process-amico-1-150x150.png 150w, https:\/\/cms-resources.pocketful.in\/blog\/wp-content\/uploads\/2024\/03\/Manufacturing-Process-amico-1-768x768.png 768w, https:\/\/cms-resources.pocketful.in\/blog\/wp-content\/uploads\/2024\/03\/Manufacturing-Process-amico-1-1536x1536.png 1536w, https:\/\/cms-resources.pocketful.in\/blog\/wp-content\/uploads\/2024\/03\/Manufacturing-Process-amico-1.png 2000w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-key-metrics\">Key Metrics<\/h3>\n\n\n\n<figure class=\"wp-block-table has-small-font-size\"><table><tbody><tr><td><strong>Market Cap&nbsp;<\/strong><\/td><td class=\"has-text-align-center\" data-align=\"center\">\u20b9 73,244 Cr.<\/td><\/tr><tr><td><strong>Current Price&nbsp;<\/strong><\/td><td class=\"has-text-align-center\" data-align=\"center\">\u20b9 4,881<\/td><\/tr><tr><td><strong>High \/ Low<\/strong><\/td><td class=\"has-text-align-center\" data-align=\"center\">\u20b9 5,733 \/ 2,754<\/td><\/tr><tr><td><strong>Stock P\/E&nbsp;<\/strong><\/td><td class=\"has-text-align-center\" data-align=\"center\">44<\/td><\/tr><tr><td><strong>Book Value&nbsp;<\/strong><\/td><td class=\"has-text-align-center\" data-align=\"center\">\u20b9 479<\/td><\/tr><tr><td><strong>Dividend Yield&nbsp;<\/strong><\/td><td class=\"has-text-align-center\" data-align=\"center\">0.41 %&nbsp;<\/td><\/tr><tr><td><strong>ROCE&nbsp;<\/strong><\/td><td class=\"has-text-align-center\" data-align=\"center\">27.0 %&nbsp;<\/td><\/tr><tr><td><strong>ROE&nbsp;<\/strong><\/td><td class=\"has-text-align-center\" data-align=\"center\">20.0 %&nbsp;<\/td><\/tr><tr><td><strong>Face Value&nbsp;<\/strong><\/td><td class=\"has-text-align-center\" data-align=\"center\">\u20b9 10.0<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p><strong>Read Also: <\/strong><a href=\"https:\/\/wp-api.pocketful.in\/blog\/case-study-on-westlife-the-rise-of-mcdonalds-in-india\/\" target=\"_blank\" rel=\"noreferrer noopener\">Case Study on Westlife: The Rise of McDonalds in India<\/a><\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-product-mix\">Product Mix<\/h3>\n\n\n\n<figure class=\"wp-block-table has-small-font-size\"><table><thead><tr><th class=\"has-text-align-left\" data-align=\"left\">Products<\/th><th class=\"has-text-align-center\" data-align=\"center\">Sales in FY23\u00a0<\/th><\/tr><\/thead><tbody><tr><td class=\"has-text-align-left\" data-align=\"left\">Wires and Cables<\/td><td class=\"has-text-align-center\" data-align=\"center\">89%<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">FMEG<\/td><td class=\"has-text-align-center\" data-align=\"center\">9%<\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\">Copper and others<\/td><td class=\"has-text-align-center\" data-align=\"center\">2%<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<figure class=\"wp-block-image aligncenter is-resized\"><img decoding=\"async\" src=\"https:\/\/lh7-us.googleusercontent.com\/LnBNa3DfztwFrEN8PRARlbCA2fGH6hG2-R86LgPR8Bqr_FTyOIsp-1J3PWA6kzHT_wCjgqMq7PCvJ64avGbEWBb13Pa1bcznKKWBgZiiedIPXGqYQgMN0aceU8j8Mh_f3pBrtsisfmJotQ7jwPnPqFI\" alt=\"Product Mix - Polycab\" style=\"width:637px;height:auto\" title=\"Chart\" \/><\/figure>\n\n\n\n<p>The figure presents an overview of the segments for Polycab India in the FY 2023. The company&#8217;s total revenue was INR 14,108 Crores, of which 89% came from wires and cables, 9% from FMEG (fast-moving electric goods), and&nbsp; 2% from copper plus other sources.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-revenue-of-polycab\">Revenue of Polycab <\/h3>\n\n\n\n<figure class=\"wp-block-table has-small-font-size\"><table><thead><tr><th class=\"has-text-align-center\" data-align=\"center\">Year<\/th><th class=\"has-text-align-center\" data-align=\"center\">Revenue in (INR Crores)<\/th><\/tr><\/thead><tbody><tr><td class=\"has-text-align-center\" data-align=\"center\">FY19<\/td><td class=\"has-text-align-center\" data-align=\"center\">7,986<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">FY20<\/td><td class=\"has-text-align-center\" data-align=\"center\">8,830<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">FY21<\/td><td class=\"has-text-align-center\" data-align=\"center\">8,792<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">FY22<\/td><td class=\"has-text-align-center\" data-align=\"center\">12,204<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">FY23<\/td><td class=\"has-text-align-center\" data-align=\"center\">1,41,078<\/td><\/tr><\/tbody><\/table><figcaption class=\"wp-element-caption\"><em>Notes: Numbers are on a consolidated basis<\/em>.<\/figcaption><\/figure>\n\n\n\n<figure class=\"wp-block-image aligncenter is-resized\"><img decoding=\"async\" src=\"https:\/\/lh7-us.googleusercontent.com\/itG7mIUb6yybkaN1vK6bxMdY8QPpRKntnbiNh4Q2MFBqmxZZAj89FN7fjPdgMNsh970SUKpwzweisZvMXU5g6oOS6zVTLURuo2bKBTE4GvNgDRgwFjt6np-ReIhO7SwFR5MjLaUNP0XNMdmks0HyVTU\" alt=\"Revenue - Polycab\" style=\"width:585px;height:auto\" title=\"Chart\" \/><\/figure>\n\n\n\n<p>The figure represents a CAGR of 15% in revenue between FY19 and FY23.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-products-offered-by-polycab\"><span class=\"ez-toc-section\" id=\"Products_Offered_by_Polycab\"><\/span>Products Offered by Polycab <span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>This company has a diversified range of products and their main products are wires and cables segments. These are:&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Control and power cables<\/li>\n\n\n\n<li>Instrumentation cables<\/li>\n\n\n\n<li>Building wires and green wires<\/li>\n\n\n\n<li>Welding cables<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-project-leap\"><span class=\"ez-toc-section\" id=\"Project_Leap\"><\/span>Project Leap<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Project Leap is a multi-year transformational programme aimed at having the right methodology in place which will enable them to achieve INR 200 billion of the top line by FY26. Progressing towards the goal, the company witnessed strong Q3FY24 performance and generated revenue of \u20b94,340 crore, growing by 17% YoY.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-competitors-of-polycab\"><span class=\"ez-toc-section\" id=\"Competitors_of_Polycab\"><\/span>Competitors of Polycab <span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The industry faces tough competition due to its low barriers to entry. Some of them are :<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>KEI industries<\/li>\n\n\n\n<li>Sterlite Techno<\/li>\n\n\n\n<li>Finolex cables<\/li>\n\n\n\n<li>Precision wires<\/li>\n\n\n\n<li>Universal cables.<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-a-new-era\"><span class=\"ez-toc-section\" id=\"A_New_Era\"><\/span>A New Era<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>In an era, where branding plays a critical role in establishing a company\u2019s identity and connection with customers, Polycab identifies the significance of refreshing its brand and staying in touch with technological advancements. The company engages in deep research and development which helped them to scale up its businesses in the FMEG segment. The company also introduced a new tagline \u201cIdeas. Connected.\u201d which builds on the idea of a future where innovative products simplify lives. Their main intention is to connect with their customers deeply and build brand loyalty.&nbsp;<\/p>\n\n\n\n<p>The main pillars of the new brand will constitute a diverse range of products and services such as home automation products, FMEG goods, improved customer experience, and sustainable cables and wires. Polycab\u2019s growth momentum is driven by the growth in its B2C business and sustenance in B2B business while expanding its footprints internationally.&nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-image aligncenter size-large is-resized\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"1024\" src=\"https:\/\/cms-resources.pocketful.in\/blog\/wp-content\/uploads\/2024\/03\/Finance-leaders-amico.png\" alt=\"Project Leap Polycab - FY26\" class=\"wp-image-3845\" style=\"width:373px;height:auto\" srcset=\"https:\/\/cms-resources.pocketful.in\/blog\/wp-content\/uploads\/2024\/03\/Finance-leaders-amico-1024x1024.png 1024w, https:\/\/cms-resources.pocketful.in\/blog\/wp-content\/uploads\/2024\/03\/Finance-leaders-amico-300x300.png 300w, https:\/\/cms-resources.pocketful.in\/blog\/wp-content\/uploads\/2024\/03\/Finance-leaders-amico-150x150.png 150w, https:\/\/cms-resources.pocketful.in\/blog\/wp-content\/uploads\/2024\/03\/Finance-leaders-amico-768x768.png 768w, https:\/\/cms-resources.pocketful.in\/blog\/wp-content\/uploads\/2024\/03\/Finance-leaders-amico-1536x1536.png 1536w, https:\/\/cms-resources.pocketful.in\/blog\/wp-content\/uploads\/2024\/03\/Finance-leaders-amico.png 2000w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-growth-outlook\"><span class=\"ez-toc-section\" id=\"Growth_Outlook\"><\/span>Growth Outlook<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>In 2024, Polycab is planning to witness substantial growth in its business with more focus on 2 of its product segments &#8211; Wires and Cables and FMEG (Fast Moving Electrical Goods).<\/p>\n\n\n\n<p>By FY26, the company aims to achieve the following objectives:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Attain revenue of \u20b920,000 crores.<\/li>\n\n\n\n<li>Achieve EBITDA margin of 10-12% in the FMEG segment.<\/li>\n\n\n\n<li>Achieve 2 times market growth in emerging segments.<\/li>\n\n\n\n<li>Secure over 10% of its contribution from online channels.<\/li>\n\n\n\n<li>Build stronger and more robust relations with the customers.<\/li>\n<\/ul>\n\n\n\n<p><strong>Read Also: <\/strong><a href=\"https:\/\/wp-api.pocketful.in\/blog\/coal-india-case-study-products-subsidiaries-financials-kpis-and-swot-analysis\/\" target=\"_blank\" rel=\"noreferrer noopener\">Coal India Case Study: Products, Subsidiaries, Financials, KPIs, and SWOT Analysis<\/a><\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-conclusion\"><span class=\"ez-toc-section\" id=\"Conclusion\"><\/span>Conclusion<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Polycab India has established itself as a leader in the wire industry, with a strong focus on innovation, customer-centricity, and sustainable growth. The company&#8217;s strategic initiatives, such as Project Leap and brand revitalization, are driving its expansion and success in both domestic and international markets.&nbsp;<\/p>\n\n\n\n<p>Looking forward, the company has plans to grow even more. Polycab wants to acquire greater market share and meet the increasing demand for their products in global markets.&nbsp;&nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-table has-small-font-size\"><table><thead><tr><th class=\"has-text-align-left\" data-align=\"left\">S.NO.<\/th><th class=\"has-text-align-left\" data-align=\"left\">Check Out These Interesting Posts You Might Enjoy!<\/th><\/tr><\/thead><tbody><tr><td class=\"has-text-align-left\" data-align=\"left\"><strong>1<\/strong><\/td><td class=\"has-text-align-left\" data-align=\"left\"><a href=\"https:\/\/www.pocketful.in\/blog\/hindustan-unilever-limited-hul-case-study-key-acquisitions-business-model-financials-and-swot-analysis\/\">Hindustan Unilever Case Study<\/a><\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\"><strong>2<\/strong><\/td><td class=\"has-text-align-left\" data-align=\"left\"><a href=\"https:\/\/www.pocketful.in\/blog\/case-study-on-apple-marketing-strategy\/\">Case Study on Apple Marketing Strategy<\/a><\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\"><strong>3<\/strong><\/td><td class=\"has-text-align-left\" data-align=\"left\"><a href=\"https:\/\/www.pocketful.in\/blog\/reliance-power-case-study\/\">Reliance Power Case Study<\/a><\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\"><strong>4<\/strong><\/td><td class=\"has-text-align-left\" data-align=\"left\"><a href=\"https:\/\/www.pocketful.in\/blog\/case-study-on-burger-king-marketing-strategy\/\">Burger King Case Study<\/a><\/td><\/tr><tr><td class=\"has-text-align-left\" data-align=\"left\"><strong>5<\/strong><\/td><td class=\"has-text-align-left\" data-align=\"left\"><a href=\"https:\/\/www.pocketful.in\/blog\/dmart-case-study-business-model-and-marketing-strategy\/\">D Mart Case Study<\/a><\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-frequently-asked-questions-faqs\"><span class=\"ez-toc-section\" id=\"Frequently_Asked_Questions_FAQs\"><\/span>Frequently Asked Questions (FAQs)<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n<div class=\"saswp-faq-block-section\"><ol style=\"list-style-type:none\"><li style=\"list-style-type: none\"><h3 class=\"\">What is the market share of Polycab?<\/h3><p class=\"saswp-faq-answer-text\">Polycab is expected to have an organised market share of 22% &#8211; 24%.<\/p><li style=\"list-style-type: none\"><h3 class=\"\">Who is the Chairman of Polycab?<\/h3><p class=\"saswp-faq-answer-text\">Inder Jaisinghani runs Polycab as its Chairman and MD.<\/p><li style=\"list-style-type: none\"><h3 class=\"\">Is Polycab a debt-free company?<\/h3><p class=\"saswp-faq-answer-text\">The company is almost debt-free. Polycab has a healthy Interest coverage ratio of 31.12 and a debt to equity ratio of 0.01.\u00a0<\/p><li style=\"list-style-type: none\"><h3 class=\"\">What is Project Leap of Polycab?<\/h3><p class=\"saswp-faq-answer-text\">Project Leap is a multi-year programme aimed at having the right infrastructure in place which will enable them to achieve INR 20,000 Crores of Revenue by FY26.<\/p><li style=\"list-style-type: none\"><h3 class=\"\"><strong>What is the EBITDA Margin of Polycab?<\/strong><\/h3><p class=\"saswp-faq-answer-text\">Polycab reported an EBITDA Margin of 13.1% in FY23, an increase of 270 bps from 10.3% in FY22.\u00a0<\/p><\/ul><\/div>","protected":false},"excerpt":{"rendered":"<p>Polycab India is one of the leading manufacturers of wires and cables in the nation. It is engaged in the business of manufacturing wires and cables. Along with these products, Polycab offers FMCG products such as electric fans, LED lighting and luminaires, switches &amp; switchgear, solar products, and conduits &amp; accessories. Let\u2019s look at its [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":3846,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"is_paper_insight":false,"paper_insight_image":0,"paper_insight_pdf":0,"paper_insight_ppt":0,"footnotes":""},"categories":[17],"tags":[],"class_list":["post-3841","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-case-study"],"acf":{"freelancer":"Aishwarya Yadav"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.13 (Yoast SEO v21.2) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Polycab Case Study: Business Model Competitors, and Growth Outlook - Pocketful<\/title>\n<meta name=\"description\" content=\"Success story of Polycab India, a leading manufacturer of wires and cables. Learn about its business model, financials, competitors, and growth strategy for achieving INR 20,000 crores in revenue by FY26.\" \/>\n<meta name=\"robots\" content=\"noindex, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Polycab Case Study: Business Model, Financials, Competitors, and Growth Outlook\" \/>\n<meta property=\"og:description\" content=\"Success story of Polycab India, a leading manufacturer of wires and cables. Learn about its business model, financials, competitors, and growth strategy for achieving INR 20,000 crores in revenue by FY26.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/wp-api.pocketful.in\/blog\/polycab-case-study-business-model-financials-competitors-and-growth-outlook\/\" \/>\n<meta property=\"og:site_name\" content=\"Pocketful\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Pocketful.HQ\/\" \/>\n<meta property=\"article:published_time\" content=\"2024-03-07T05:50:45+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-03-04T05:15:47+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/wp-api.pocketful.in\/blog\/wp-content\/uploads\/2024\/03\/polycab-banner.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1497\" \/>\n\t<meta property=\"og:image:height\" content=\"1080\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Pranit Mathur\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@Pocketful_HQ\" \/>\n<meta name=\"twitter:site\" content=\"@Pocketful_HQ\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Pranit Mathur\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"5 minutes\" \/>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Polycab Case Study: Business Model Competitors, and Growth Outlook - Pocketful","description":"Success story of Polycab India, a leading manufacturer of wires and cables. Learn about its business model, financials, competitors, and growth strategy for achieving INR 20,000 crores in revenue by FY26.","robots":{"index":"noindex","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"og_locale":"en_US","og_type":"article","og_title":"Polycab Case Study: Business Model, Financials, Competitors, and Growth Outlook","og_description":"Success story of Polycab India, a leading manufacturer of wires and cables. Learn about its business model, financials, competitors, and growth strategy for achieving INR 20,000 crores in revenue by FY26.","og_url":"https:\/\/wp-api.pocketful.in\/blog\/polycab-case-study-business-model-financials-competitors-and-growth-outlook\/","og_site_name":"Pocketful","article_publisher":"https:\/\/www.facebook.com\/Pocketful.HQ\/","article_published_time":"2024-03-07T05:50:45+00:00","article_modified_time":"2025-03-04T05:15:47+00:00","og_image":[{"width":1497,"height":1080,"url":"https:\/\/wp-api.pocketful.in\/blog\/wp-content\/uploads\/2024\/03\/polycab-banner.jpg","type":"image\/jpeg"}],"author":"Pranit Mathur","twitter_card":"summary_large_image","twitter_creator":"@Pocketful_HQ","twitter_site":"@Pocketful_HQ","twitter_misc":{"Written by":"Pranit Mathur","Est. reading time":"5 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/wp-api.pocketful.in\/blog\/polycab-case-study-business-model-financials-competitors-and-growth-outlook\/#article","isPartOf":{"@id":"https:\/\/wp-api.pocketful.in\/blog\/polycab-case-study-business-model-financials-competitors-and-growth-outlook\/"},"author":{"name":"Pranit Mathur","@id":"https:\/\/wp-api.pocketful.in\/blog\/#\/schema\/person\/eae423acaf12d8e14ddef6f5508d4ceb"},"headline":"Polycab Case Study: Business Model, Financials, Competitors, and Growth Outlook","datePublished":"2024-03-07T05:50:45+00:00","dateModified":"2025-03-04T05:15:47+00:00","mainEntityOfPage":{"@id":"https:\/\/wp-api.pocketful.in\/blog\/polycab-case-study-business-model-financials-competitors-and-growth-outlook\/"},"wordCount":775,"publisher":{"@id":"https:\/\/wp-api.pocketful.in\/blog\/#organization"},"articleSection":["Case Study"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/wp-api.pocketful.in\/blog\/polycab-case-study-business-model-financials-competitors-and-growth-outlook\/","url":"https:\/\/wp-api.pocketful.in\/blog\/polycab-case-study-business-model-financials-competitors-and-growth-outlook\/","name":"Polycab Case Study: Business Model Competitors, and Growth Outlook - Pocketful","isPartOf":{"@id":"https:\/\/wp-api.pocketful.in\/blog\/#website"},"datePublished":"2024-03-07T05:50:45+00:00","dateModified":"2025-03-04T05:15:47+00:00","description":"Success story of Polycab India, a leading manufacturer of wires and cables. Learn about its business model, financials, competitors, and growth strategy for achieving INR 20,000 crores in revenue by FY26.","breadcrumb":{"@id":"https:\/\/wp-api.pocketful.in\/blog\/polycab-case-study-business-model-financials-competitors-and-growth-outlook\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/wp-api.pocketful.in\/blog\/polycab-case-study-business-model-financials-competitors-and-growth-outlook\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/wp-api.pocketful.in\/blog\/polycab-case-study-business-model-financials-competitors-and-growth-outlook\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Blog Home","item":"https:\/\/wp-api.pocketful.in\/blog\/"},{"@type":"ListItem","position":2,"name":"Polycab Case Study: Business Model, Financials, Competitors, and Growth Outlook"}]},{"@type":"WebSite","@id":"https:\/\/wp-api.pocketful.in\/blog\/#website","url":"https:\/\/wp-api.pocketful.in\/blog\/","name":"Pocketful blog","description":"Learn Stock market trading, investing &amp; more","publisher":{"@id":"https:\/\/wp-api.pocketful.in\/blog\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/wp-api.pocketful.in\/blog\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/wp-api.pocketful.in\/blog\/#organization","name":"Pocketful","alternateName":"Pocketful Broker","url":"https:\/\/wp-api.pocketful.in\/blog\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/wp-api.pocketful.in\/blog\/#\/schema\/logo\/image\/","url":"https:\/\/cms-resources.pocketful.in\/blog\/wp-content\/uploads\/2023\/08\/Logo_Final-01-1-3-1.png","contentUrl":"https:\/\/cms-resources.pocketful.in\/blog\/wp-content\/uploads\/2023\/08\/Logo_Final-01-1-3-1.png","width":150,"height":26,"caption":"Pocketful"},"image":{"@id":"https:\/\/wp-api.pocketful.in\/blog\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/Pocketful.HQ\/","https:\/\/twitter.com\/Pocketful_HQ","https:\/\/www.linkedin.com\/company\/pocketfulofprofits\/","https:\/\/www.instagram.com\/pocketful.official\/"]},{"@type":"Person","@id":"https:\/\/wp-api.pocketful.in\/blog\/#\/schema\/person\/eae423acaf12d8e14ddef6f5508d4ceb","name":"Pranit Mathur","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/wp-api.pocketful.in\/blog\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/e813f91983732e867d24af7a8fc6fc7ad512653879c1a937e72453158bd07bde?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/e813f91983732e867d24af7a8fc6fc7ad512653879c1a937e72453158bd07bde?s=96&d=mm&r=g","caption":"Pranit Mathur"}}]}},"associated_menu_id":"12","article_history_entries":[{"type":"Edit","author":{"id":7,"name":"Pocketful Team","url":"pocketful"},"content":"Post created","date":"2024-03-07 05:50:45","id":"ah_671798281af7f8.42532094"},{"type":"Update","author":{"id":11,"name":"Nisha","url":"nisha"},"content":"Add new links","date":"2025-03-04 05:15:47","id":"ah_67c68c83c3db90.02838760"}],"is_paper_insight":false,"image_url_featured":"https:\/\/cms-resources.pocketful.in\/blog\/wp-content\/uploads\/2024\/03\/polycab-banner.jpg","_links":{"self":[{"href":"https:\/\/wp-api.pocketful.in\/blog\/wp-json\/wp\/v2\/posts\/3841","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/wp-api.pocketful.in\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wp-api.pocketful.in\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wp-api.pocketful.in\/blog\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/wp-api.pocketful.in\/blog\/wp-json\/wp\/v2\/comments?post=3841"}],"version-history":[{"count":0,"href":"https:\/\/wp-api.pocketful.in\/blog\/wp-json\/wp\/v2\/posts\/3841\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wp-api.pocketful.in\/blog\/wp-json\/wp\/v2\/media\/3846"}],"wp:attachment":[{"href":"https:\/\/wp-api.pocketful.in\/blog\/wp-json\/wp\/v2\/media?parent=3841"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wp-api.pocketful.in\/blog\/wp-json\/wp\/v2\/categories?post=3841"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wp-api.pocketful.in\/blog\/wp-json\/wp\/v2\/tags?post=3841"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}