Polycab India Limited

What Polycab India Limited does

Polycab India Limited (NSE/BSE: POLYCAB), headquartered in Mumbai and incorporated in Gujarat in 1996 (formerly Polycab Wires Limited), is India's largest wires and cables manufacturer with a 30-31% share of the organized domestic market. The company operates 27 manufacturing facilities across India and serves customers in 84+ countries, producing low-, medium-, and extra-high-voltage power cables; communication, data, and instrumentation cables; and specialized renewable-energy cables. Its product portfolio extends into Fast-Moving Electrical Goods (FMEG) including BLDC and conventional ceiling, table, wall, pedestal, and exhaust fans, LED lighting, modular switches and switchgear (MCB/RCCB/RCBO), water heaters, EV charging solutions, and an integrated solar product line (grid-tie inverters, distribution boxes, solar cables).

The company monetizes primarily through hardware sales via a pan-India network of authorized dealers and retail outlets, complemented by institutional sales to government infrastructure programs (BharatNet Phase III across Karnataka, Puducherry, Goa, and Bihar; RDSS expected at Rs 1,800-2,000 crore in FY27) and a growing export business currently at ~8% of revenue. An Engineering, Procurement, and Construction (EPC) segment, recently ring-fenced under the wholly owned subsidiary Polycon Infra Projects Private Limited (incorporated April 24, 2026), executes power distribution, transmission, and telecom projects. Distribution has been bolstered by Quick Service Depots, with a ~15,000 sq ft facility opened in Amritsar in April 2026. Notable proprietary technologies include Polycab Suprema E-Beam crosslinked wire, India's first GreenPro-certified building wire (Green Wire+), and BLDC fan platforms delivering up to 65% energy savings versus conventional induction-motor fans. Certifications span ISO 9001/14001/45001/50001 and multiple BASEC product certificates supporting international market access.

Name

Polycab India Limited

Legal name

Polycab India Limited

Website

https://polycab.com

Company type

Public

Founded year

1996

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Polycab India Limited is India's largest wires and cables manufacturer (30-31% organized market share), producing LV/MV/EHV power cables, FMEG products including BLDC fans, lighting, switches, EV chargers, and solar solutions, serving consumers, infrastructure developers, and government programs through a pan-India dealer network and exports to 84+ countries.

Ownership category

akta.pro rank

Product category

Electrical Wires, Cables and FMEG

NAICS

Communication and Energy Wire and Cable Manufacturing (33592), Wiring Device Manufacturing (33593), Other Communication and Energy Wire Manufacturing (335929), Electrical Equipment Manufacturing (3353)

SIC

Electronic & Other Electrical Equipment (No Computer Equip) (3600), Computer Communications Equipment (3576), Electronic Components & Accessories (3670)

akta.pro primary industry

Industrial Power Cable (MV/HV) (IMADAMAB)

akta.pro secondary industries

Building Wire & Cable (Residential/Commercial) (IMADAMAA), Data, Communications & Fiber Optic Cable (IMADAMAD), Wiring Devices & Receptacles (switches, sockets, plugs, industrial outlets, pin & sleeve) (IMAGAEAF), Power Cables & Conductors (LV/MV cables, flexible cables, bus wire, armored cable) (IMAGAEAC)

Keywords

• Wire and cable manufacturing
• Electrical solutions
• Power cables
• Consumer electrical goods
• EPC infrastructure services

Headquarters

HQ city

Mumbai

HQ country

India

HQ region

Asia

Offices4 records

Markets served

GTM type

B2B and B2C

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Personnel, Marketing or Sales, Technology or R&D, Infrastructure

Revenue model

1. Wires and Cables: Polycab's dominant business segment covering house wires, power cables (LV/MV/EHV), communication and data cables, instrumentation cables, and renewable energy cables. Wires and cables revenue reached Rs 251.789 billion in FY26, growing 33% YoY, representing approximately 87% of total revenue. The segment benefits from Polycab's market-leading position (30-31% organized market share), government infrastructure spending on BharatNet and RDSS, and robust domestic demand from real estate and industrial projects.
2. Fast-Moving Electrical Goods (FMEG): FMEG segment encompassing fans (ceiling, table, wall, pedestal, exhaust, air circulators), LED lighting (bulbs, downlights, panel lights, LED batten, rope and strip lights), switches and accessories, switchgear (MCB, RCCB, RCBO, isolators), water heaters (instant and storage), and solar products. The segment posted exceptional 71% YoY growth in Q1 FY27 with record revenue, driven primarily by solar products. FMEG is a strategic growth pillar with EBIT turning positive in FY26 for the first time.
3. EPC (Engineering, Procurement and Construction): EPC projects in power distribution, transmission, and telecom sectors. The company established a new wholly owned subsidiary, Polycon Infra Projects Private Limited (incorporated April 24, 2026), to focus on EPC projects in power distribution, transmission, and telecom. EPC business declined 11% in Q1 FY27 due to project execution timing. The segment contributes to integrated solutions alongside the core cables business.

Pricing tiers

Go-to-market motion2 records

Distribution channels5 records

Marketing channels7 records

Core offering

Polycab India Limited manufactures and sells wires and cables (house wires, LV/MV/EHV power cables, communication and data cables, instrumentation cables, renewable energy cables) and Fast-Moving Electrical Goods (BLDC and conventional fans, LED lighting, modular switches, switchgear, water heaters, solar products, EV charging solutions). The company operates 27 manufacturing facilities across India and distributes through authorized dealers, retail outlets, Quick Service Depots, government projects (BharatNet, RDSS), and export markets in 84+ countries.

Product overview

Polycab India Limited is India's No.1 Wires and Cables Company with a diversified portfolio spanning Fast-Moving Electrical Goods (FMEG). The company operates across three main segments: Wires & Cables (including power cables ranging from LV to EHV, instrumentation cables, communication/data cables, and specialized renewable energy cables), FMEG products (including BLDC and conventional ceiling fans, table/wall/pedestal/exhaust/air circulator fans, LED lighting solutions, water heaters, modular switches, switchgear, and solar products), and EPC services for power and telecom infrastructure. The Wires & Cables segment serves as the core business while FMEG represents the fastest-growing category with products like BLDC fans, EV charging solutions, and smart lighting. The company also provides project execution services for broadband infrastructure through BharatNet initiatives.

Differentiator

Problem solved

Functional benefit

Brands

• Etira: Sub-brand for house wires and switches/accessories products
• Polycab Green Wire+
• PolycabSuprema E-Beam Wire
• PolycabOptima+
• PolycabPrimma

Products and services

• House Wires Residential house wires including Polycab Green Wire+, Polycab Suprema E-Beam Wire, Polycab Optima+, Polycab Primma, Etira, Greenwire 180M, and Polycab LF FR 180M for safe house wiring applications. Features include GreenPro certification, E-Beam crosslinking, fire-retardant insulation, and low-smoke halogen-free options. Designed for homeowners, builders, and electricians in Indian residential construction.
• LV Power Cable Low voltage power cables for power transmission and distribution applications across industrial, infrastructure, and commercial projects.
• MV Power Cable Medium voltage power cables for industrial and utility power distribution.
• EHV Power Cable Extra high voltage power cables for large-scale power transmission infrastructure projects.
• Instrumentation Cable Specialized cables for instrumentation and control systems in industrial applications.
• Communication & Data Cable Cables for telecommunications and data transmission applications including structured cabling for datacenters, IT industry, and telecom networks.
• Renewable Energy Cable Cables specifically designed for solar and renewable energy installations.
• Fans (Ceiling, Table, Wall, Pedestal, Exhaust, Air Circulator, Farrata) Full range of fans including ceiling fans (BLDC energy-efficient models, Superia, Silencio Cruiser, designer fans, high-speed fans, fans with integrated LED lights), Super ROI BLDC fans, table fans, wall fans, pedestal fans, exhaust fans, air circulators, and Farrata fans for residential and commercial cooling applications.
• LED Lighting Products LED lighting solutions including bulbs, downlights, panel lights, LED battens, outdoor lights, rope lights, strip lights, and COB lights for residential and commercial applications.
• Modular Switches and Accessories Modular electrical switches including Levana and Etira brands with flame-retardant polycarbonate, shuttered sockets, plastic modular boxes, and customizable configurations for residential and commercial electrical installations.
• Water Heaters (Instant and Storage) Instant water heaters and storage water heaters with ultra-diamond glass-lined coating for corrosion protection and rust prevention, for residential hot water applications.
• Switchgear Electrical switchgear products including MCBs, RCCBs, RCBO, Isolators, ACCLs, MCB Changeover Switches, and Distribution Boards for residential, commercial, and industrial electrical protection.
• Solar Products (Inverters, Panels, Distribution Boxes, Solar Cables) Solar energy products including grid-tie inverters, solar panels, distribution boxes, and specialized solar cables for residential, commercial, and utility-scale renewable energy installations.
• EV Charging Solutions Electric vehicle charging solutions including AC Type-2 and DC CCS-2 charging guns, AC/DC chargers, and automotive cables for residential, commercial, and fleet fast-charging environments.
• EPC Services (Power Distribution, Transmission, Telecom) Engineering, Procurement, and Construction services for power distribution, transmission, and telecom infrastructure projects, executed through subsidiary Polycon Infra Projects Private Limited.
• Polycab Home Advisors Advisory service for residential customers including LED energy savings calculator and home visit booking for product consultation and electrical project planning.

Quantifiable outcome

• Revenue CAGR of 29% over FY23-26, with PAT CAGR of approximately 28-32% during the same period
• +4 more outcomes

Named customers3 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature6 records

Partnerships

One partnership is on record.

• Solar & Storage Expo North East 2026 (Event Partner)minorGTM or Marketing Partner · 29 April 2026Polycab India Ltd served as a partner/exhibitor at the Solar & Storage Expo North East 2026 held on April 29, 2026 at Vivanta Guwahati, alongside Fimer, SAEL Industries, Adani Solar, Saatvik Solar, and renewable energy developer associations. The event drew 350+ industry leaders and featured policy panel discussions, B2B exhibitions, and the North East Energy Excellence Awards 2026.

Scale indicators8 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• V-Guard Industries Limited: V-Guard is a leading FMEG competitor in stabilizers, water heaters, fans, and switchgear. Both companies serve Indian residential consumers through similar multi-tier distribution and increasingly compete in the energy-efficient appliance category.
• RR Kabel (RR Global): RR Kabel is a direct competitor in wires & cables, including house wires, power cables, and flexible cables, with strong international export presence. Both companies compete across retail, institutional, and project channels in India and abroad.
• Finolex Cables Limited: Finolex is one of India's oldest and most established wires & cables manufacturers, competing head-on with Polycab in house wires, power cables, and communication cables. Both companies sell through similar dealer networks and target overlapping residential and infrastructure segments.
• Orient Electric Limited: Orient Electric is a direct competitor in fans (ceiling, table, wall), lighting, and FMEG products. Both companies compete in the BLDC fan and energy-efficient lighting categories and share similar retail and institutional distribution channels in India.
• Crompton Greaves Consumer Electricals Limited: Crompton is a leading FMEG player in fans, lighting, and pumps, directly competing with Polycab in the BLDC and conventional ceiling fan categories. Both companies target similar residential consumer segments with comparable distribution intensity.
• Legrand India: Legrand is a global leader in wiring devices, switches, and cable management systems, directly competing with Polycab's switchgear and modular switches portfolio. Both companies target premium residential, commercial, and data center infrastructure customers.
• Bajaj Electricals Limited: Bajaj Electricals competes with Polycab in FMEG categories including fans, lighting, switches, and small appliances. Both companies have comparable pan-India dealer networks and consumer brand recognition in the Indian electrical goods market.
• KEI Industries Limited: KEI is a direct competitor in LV/MV/EHV power cables, house wires, and flexible cables, with comparable institutional and EPC exposure. The two compete on infrastructure projects, including similar government and private sector bids across India.
• Havells India Limited: Havells is India's largest listed FMEG and electrical equipment company, directly competing with Polycab in switches, fans, lighting, and wires & cables. Both companies target similar residential, commercial, and institutional customer segments with comparable product portfolios and pan-India distribution.

Broad incumbents

• Schneider Electric India: Schneider Electric is a global broad-line electrical equipment and solutions provider with significant India presence in switchgear, power distribution, and industrial automation. It overlaps with Polycab in switchgear, wiring devices, and infrastructure-grade electrical products, though Schneider operates at much broader scale across multiple electrical categories.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/PolycabIndia
• YouTubeyoutube.com/user/PolycabInd
• Facebookfacebook.com/PolycabInd
• LinkedInlinkedin.com/company/polycabindia
• Instagraminstagram.com/polycabindia

Compliance15 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Polycab India Limited