Polycab IndiaNSE:POLYCAB +1.86%95 Interest Coverage is 14.25 as of Mar. 2026, which is 35% below its 10-year median of 21.91. GuruFocus rates NSE:POLYCAB with a GF Score™ of 95/100 and a GF Value™ of ₹9,434.22 (Fairly Valued). The stock has 6 warning signs investors should review. Among 2,325 Industrial Products companies, Polycab India ranks better than 50.92% on this metric.
Interest Coverage is a ratio that determines how easily a company can pay interest expenses on outstanding debt. It is calculated by dividing a company's
Operating Income
by its Interest Expense. Polycab India's
Operating Income
for the
three
months ended in Mar. 2026 was ₹10,635 Mil. Polycab India's Interest Expense for the
three
months ended in Mar. 2026 was ₹-746 Mil.
Polycab India's interest coverage for the quarter that ended in Mar. 2026 was 14.25.
The higher the ratio, the stronger the company's financial strength is.
The historical rank and industry rank for Polycab India's Interest Coverage or its related term are showing as below:
NSE:POLYCAB'
s Interest Coverage Range Over the Past 10 Years
Min: 6.05 Med: 21.91 Max: 66.65
Current: 15.62
NSE:POLYCAB's Interest Coverage is ranked better than 50.92% of 2325
companies
in the Industrial Products industry
Industry Median: 14.8
vs NSE:POLYCAB: 15.62
Polycab India (NSE:POLYCAB) Interest Coverage Explanation
Ben Graham requires that a company has a minimum interest coverage of 5 with the companies he invested. If the interest coverage is less than 2, the company is burdened by debt. Any business slow or recession may drag the company into a situation where it cannot pay the interest on its debt.
Interest Coverage is an important factor when GuruFocus ranks a company's overage Financial Strength .
Polycab India Interest Coverage Related Terms
Polycab India Interest Coverage Historical Data
* Premium members only.
The historical data trend for Polycab India's Interest Coverage 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.
Note: For Interest Coverage, "No debt" indicates no long-term debt. An indication of "No Debt" does not necessarily mean that the company has no long-term debt obligations; it could be due to missing data in the quarterly or annual report. Use caution when interpreting this information.
NSE:POLYCAB vs VRT, BE: Interest Coverage Comparison
For the Electrical Equipment & Parts subindustry, Polycab India's Interest Coverage, along with its competitors' market caps and Interest Coverage 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 Interest Coverage vs Industrial Products Industry
For the Industrial Products industry and Industrials sector, Polycab India's Interest Coverage distribution charts can be found below:
* The bar in red indicates where Polycab India's Interest Coverage falls into.
Interest Coverage is a ratio that determines how easily a company can pay interest expenses on outstanding debt. It is calculated by dividing a company's Operating Income (EBIT) by its Interest Expense:
* 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 Interest Coverage of 14.25 as of Mar. 2026. Interest Coverage measures a company's capability to pay interest expenses on its debt. View historical data on Polycab India and its competitors. This is 35% below median its historical median of 21.91. Over the past decade, Polycab India's Interest Coverage has ranged from 6.05 to 66.65. According to the industry distribution chart, Polycab India ranks #1141 out of 2325 companies in the Industrial Products industry, placing it in the top 49.1%.
Is Polycab India's Interest Coverage too high?
Polycab India's current Interest Coverage of 14.25 is 35% below median its 10-year median of 21.91. Over the past 10 years, this metric has ranged from a low of 6.05 to a high of 66.65. The Industrial Products industry median Interest Coverage is 14.80. Polycab India's value of 14.25 is 3.7% below this industry median. Based on the distribution chart, Polycab India ranks #1141 out of 2325 companies in the Industrial Products industry, which is above the industry midpoint. Overall, Polycab India has a GF Score™ of 95/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Polycab India's Interest Coverage compare to VRT and BE?
According to the Industrial Products industry distribution chart, Polycab India ranks #1141 out of 2325 companies for Interest Coverage. This puts Polycab India in the upper half of its industry. The industry median Interest Coverage is 14.80. Polycab India's value of 14.25 is 3.7% below this benchmark. Historically, Polycab India's own Interest Coverage has ranged from 6.05 to 66.65 over the past decade. While the company's 10-year median is 21.91 vs. the industry median of 14.80, 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 Interest Coverage for an Industrial Products company?
The median Interest Coverage among Industrial Products companies is 14.80, based on 2,325 companies in the industry. Companies in the top quartile (top 25%) have a Interest Coverage significantly above this median, while those in the bottom quartile fall well below. However, Interest Coverage should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Polycab India's current Interest Coverage of 14.25 is 3.7% 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 Interest Coverage mean?
A high Interest Coverage can signal that a stock is expensive relative to its fundamentals. Interest Coverage measures a company's capability to pay interest expenses on its debt. View historical data on Polycab India and its competitors. For the Industrial Products industry, the median Interest Coverage is 14.80 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Polycab India's current Interest Coverage is 14.25, which is 35% below median its own 10-year median of 21.91. 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 ₹9,434.22, compared to a current price of ₹9,961.00 — trading 5.6% above its estimated fair value. The current Interest Coverage is 14.25, which is 35% below median its 10-year median of 21.91 and 3.7% below the Industrial Products industry median of 14.80. Polycab India's overall GF Score™ is 95/100 with 6 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Interest Coverage calculated?
Interest Coverage is calculated from a company's financial statements. For Polycab India (NSE:POLYCAB), the current Interest Coverage is 14.25 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 ₹9,961.00 is trading 5.6% above its estimated GF Value™ of ₹9,434.22.
GuruFocus considers Polycab India to be Fairly Valued.
Key valuation signals for NSE:POLYCAB:
Interest Coverage: 14.25 (35% below median its 10-year median of 21.91)
GF Value™: ₹9,434.22 vs. price of ₹9,961.00 (5.6% above fair value)
Industry Position: 3.7% below the Industrial Products median (#1141 of 2325)
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.
95GF Score
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