Polycab IndiaNSE:POLYCAB -0.81%96 Current Ratio is 1.84 as of Mar. 2026, which is 16% below its 10-year median of 2.20. GuruFocus rates NSE:POLYCAB with a GF Score™ of 96/100 and a GF Value™ of ₹9,480.21 (Fairly Valued). The stock has 6 warning signs investors should review. Among 3,073 Industrial Products companies, Polycab India ranks worse than 54.6% on this metric.
The current ratio is a liquidity ratio that measures a company's ability to pay short-term obligations. It is calculated as a company's Total Current Assets divides by its Total Current Liabilities. Polycab India's current ratio for the quarter that ended in Mar. 2026 was 1.84.
Polycab India has a current ratio of 1.84. It generally indicates good short-term financial strength.
The historical rank and industry rank for Polycab India's Current Ratio or its related term are showing as below:
NSE:POLYCAB'
s Current Ratio Range Over the Past 10 Years
Min: 1.34 Med: 2.2 Max: 2.95
Current: 1.84
During the past 11 years, Polycab India's highest Current Ratio was 2.95. The lowest was 1.34. And the median was 2.20.
NSE:POLYCAB's Current Ratio is ranked worse than 54.6% of 3073
companies
in the Industrial Products industry
Industry Median: 1.96
vs NSE:POLYCAB: 1.84
Polycab India (NSE:POLYCAB) Current Ratio Explanation
The current ratio can give a sense of the efficiency of a company's operating cycle or its ability to turn its product into cash. Companies that have trouble getting paid on their receivables or have long inventory turnover can run into liquidity problems because they are unable to alleviate their obligations. Because business operations differ in each industry, it is always more useful to compare companies within the same industry.
Acceptable current ratios vary from industry to industry and are generally between 1 and 3 for healthy businesses.
The higher the current ratio, the more capable the company is of paying its obligations. A ratio under 1 suggests that the company would be unable to pay off its obligations if they came due at that point. While this shows the company is not in good financial health, it does not necessarily mean that it will go bankrupt - as there are many ways to access financing - but it is definitely not a good sign.
If all other things were equal, a creditor, who is expecting to be paid in the next 12 months, would consider a high current ratio to be better than a low current ratio, because a high current ratio means that the company is more likely to meet its liabilities which fall due in the next 12 months.
Polycab India Current Ratio Related Terms
Polycab India Current Ratio Historical Data
* Premium members only.
The historical data trend for Polycab India's Current Ratio can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
For the Electrical Equipment & Parts subindustry, Polycab India's Current Ratio, along with its competitors' market caps and Current Ratio data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Polycab India Current Ratio vs Industrial Products Industry
For the Industrial Products industry and Industrials sector, Polycab India's Current Ratio distribution charts can be found below:
* The bar in red indicates where Polycab India's Current Ratio falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Polycab India (NSE:POLYCAB) has a Current Ratio of 1.84 as of Mar. 2026. This is 16% below median its historical median of 2.20. Over the past decade, Polycab India's Current Ratio has ranged from 1.34 to 2.95. According to the industry distribution chart, Polycab India ranks #1678 out of 3073 companies in the Industrial Products industry, placing it in the top 54.6%.
Is Polycab India's Current Ratio too high?
Polycab India's current Current Ratio of 1.84 is 16% below median its 10-year median of 2.20. Over the past 10 years, this metric has ranged from a low of 1.34 to a high of 2.95. The Industrial Products industry median Current Ratio is 1.96. Polycab India's value of 1.84 is 6.1% below this industry median. Based on the distribution chart, Polycab India ranks #1678 out of 3073 companies in the Industrial Products industry, which is below the industry midpoint. Overall, Polycab India has a GF Score™ of 96/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Polycab India's Current Ratio compare to VRT and BE?
According to the Industrial Products industry distribution chart, Polycab India ranks #1678 out of 3073 companies for Current Ratio. This places Polycab India in the lower half of its industry. The industry median Current Ratio is 1.96. Polycab India's value of 1.84 is 6.1% below this benchmark. Historically, Polycab India's own Current Ratio has ranged from 1.34 to 2.95 over the past decade. While the company's 10-year median is 2.20 vs. the industry median of 1.96, Polycab India has consistently been below the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Current Ratio for an Industrial Products company?
The median Current Ratio among Industrial Products companies is 1.96, based on 3,073 companies in the industry. Companies in the top quartile (top 25%) have a Current Ratio significantly above this median, while those in the bottom quartile fall well below. However, Current Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Polycab India's current Current Ratio of 1.84 is 6.1% below the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Current Ratio mean?
A high Current Ratio can signal that a stock is expensive relative to its fundamentals. For the Industrial Products industry, the median Current Ratio is 1.96 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Polycab India's current Current Ratio is 1.84, which is 16% below median its own 10-year median of 2.20. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Polycab India stock overvalued right now?
Based on GuruFocus' analysis, Polycab India (NSE:POLYCAB) is currently considered Fairly Valued. The stock's GF Value™ is ₹9,480.21, compared to a current price of ₹9,635.00 — trading 1.6% above its estimated fair value. The current Current Ratio is 1.84, which is 16% below median its 10-year median of 2.20 and 6.1% below the Industrial Products industry median of 1.96. Polycab India's overall GF Score™ is 96/100 with 6 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Current Ratio calculated?
Current Ratio is calculated from a company's financial statements. For Polycab India (NSE:POLYCAB), the current Current Ratio is 1.84 as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Polycab India (NSE:POLYCAB) Overvalued in 2026?
Based on GuruFocus' analysis, Polycab India stock appears to be overvalued.
The current stock price of ₹9,635.00 is trading 1.6% above its estimated GF Value™ of ₹9,480.21.
GuruFocus considers Polycab India to be Fairly Valued.
Key valuation signals for NSE:POLYCAB:
Current Ratio: 1.84 (16% below median its 10-year median of 2.20)
GF Value™: ₹9,480.21 vs. price of ₹9,635.00 (1.6% above fair value)
Industry Position: 6.1% below the Industrial Products median (#1678 of 3073)
No single metric tells the full story. See the NSE:POLYCAB stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Polycab India Ltd is engaged in the business of manufacturing and selling wires and cables and fast moving electrical goods under the POLYCAB brand. The business activities are carried out through Wires and cables, Fast moving electrical goods (FMEG), and the EPC segment. It generates maximum revenue from the Wires and cables segment. Geographically, it derives a majority of revenue from India, and also has its presence Overseas. Some of its products include Power cables, Control Cables, Instrumentation Cables, Optical Fibre Cables (OFC), Solar Cables, Building Cables, Flexible Wires, and others.
96GF Score
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