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Polycab IndiaNSE:POLYCAB +2.43%97 Return-on-Tangible-Equity is 26.62% as of Mar. 2026, which is 28% above its 10-year median of 20.75. GuruFocus rates NSE:POLYCAB with a GF Score™ of 97/100 and a GF Value™ of ₹9,567.87 (Fairly Valued). The stock has 6 warning signs investors should review. Among 2,970 Industrial Products companies, Polycab India ranks better than 88.55% on this metric.
Return-on-Tangible-Equity is calculated as Net Income divided by its average total shareholder tangible equity. Total shareholder tangible equity equals to Total Stockholders Equity minus Intangible Assets. Polycab India's annualized net income for the quarter that ended in Mar. 2026 was ₹30,911 Mil. Polycab India's average shareholder tangible equity for the quarter that ended in Mar. 2026 was ₹116,097 Mil. Therefore, Polycab India's annualized Return-on-Tangible-Equity for the quarter that ended in Mar. 2026 was 26.62%.
The historical rank and industry rank for Polycab India's Return-on-Tangible-Equity or its related term are showing as below:
NSE:POLYCAB'
s Return-on-Tangible-Equity Range Over the Past 10 Years
Min: 12.37 Med: 20.75 Max: 24.5
Current: 24.5
During the past 11 years, Polycab India's highest Return-on-Tangible-Equity was 24.50%. The lowest was 12.37%. And the median was 20.75%.
NSE:POLYCAB's Return-on-Tangible-Equity is ranked better than 88.55% of 2970
companies
in the Industrial Products industry
Industry Median: 6.725
vs NSE:POLYCAB: 24.50
Polycab India (NSE:POLYCAB) Return-on-Tangible-Equity Explanation
Return-on-Tangible-Equity measures the rate of return on the ownership interest (shareholder's tangible equity) of the common stock owners. It measures a firm's efficiency at generating profits from every unit of shareholders' tangible equity (shareholders equity minus intangibles). Return-on-Tangible-Equity shows how well a company uses investment funds to generate earnings growth. Return-on-Tangible-Equitys between 15% and 20% are considered desirable.
Be Aware
Net Income is used.
Because a company can increase its Return-on-Tangible-Equity by having more financial leverage, it is important to watch the leverage ratio when investing in high Return-on-Tangible-Equity companies. Like Return-on-Tangible-Asset, Return-on-Tangible-Equity is calculated with only 12 months data. Fluctuations in company's earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective.
Asset light businesses require very few assets to generate very high earnings. Their Return-on-Tangible-Equitys can be extremely high.
Polycab India Return-on-Tangible-Equity Related Terms
Polycab India Return-on-Tangible-Equity Historical Data
* Premium members only.
The historical data trend for Polycab India's Return-on-Tangible-Equity 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.
NSE:POLYCAB vs VRT, BE: Return-on-Tangible-Equity Comparison
For the Electrical Equipment & Parts subindustry, Polycab India's Return-on-Tangible-Equity, along with its competitors' market caps and Return-on-Tangible-Equity 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 Return-on-Tangible-Equity vs Industrial Products Industry
For the Industrial Products industry and Industrials sector, Polycab India's Return-on-Tangible-Equity distribution charts can be found below:
* The bar in red indicates where Polycab India's Return-on-Tangible-Equity 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.
In the calculation of annual Return-on-Tangible-Equity, the net income of the last fiscal year and the average total shareholder tangible equity over the fiscal year are used. In calculating the quarterly data,
the net income data used here is four times the quarterly (Mar. 2026) net income data.
Return-on-Tangible-Equity is displayed in the 10-year financial page.
What does a Return-on-Tangible-Equity of 26.62% mean?
Polycab India (NSE:POLYCAB) has a Return-on-Tangible-Equity of 26.62% as of Mar. 2026. Return on tangible equity is the ratio of current-period net income to average two-period tangible equity. View historical data on Polycab India and its competitors. This is 28% above median its historical median of 20.75. Over the past decade, Polycab India's Return-on-Tangible-Equity has ranged from 12.37 to 24.50. According to the industry distribution chart, Polycab India ranks #340 out of 2970 companies in the Industrial Products industry, placing it in the top 11.4%.
Is Polycab India's Return-on-Tangible-Equity too high?
Polycab India's current Return-on-Tangible-Equity of 26.62% is 28% above median its 10-year median of 20.75. Over the past 10 years, this metric has ranged from a low of 12.37 to a high of 24.50. The Industrial Products industry median Return-on-Tangible-Equity is 6.73. Polycab India's value of 26.62% is 295.8% above this industry median. Based on the distribution chart, Polycab India ranks #340 out of 2970 companies in the Industrial Products industry, which is in the top quartile — a strong position relative to peers. Overall, Polycab India has a GF Score™ of 97/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Polycab India's Return-on-Tangible-Equity compare to VRT and BE?
According to the Industrial Products industry distribution chart, Polycab India ranks #340 out of 2970 companies for Return-on-Tangible-Equity. This places Polycab India in the top 11% of its industry — outperforming the majority of peers. The industry median Return-on-Tangible-Equity is 6.73. Polycab India's value of 26.62% is 295.8% above this benchmark. Historically, Polycab India's own Return-on-Tangible-Equity has ranged from 12.37 to 24.50 over the past decade. While the company's 10-year median is 20.75 vs. the industry median of 6.73, Polycab India has consistently been above 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 Return-on-Tangible-Equity for an Industrial Products company?
The median Return-on-Tangible-Equity among Industrial Products companies is 6.73, based on 2,970 companies in the industry. Companies in the top quartile (top 25%) have a Return-on-Tangible-Equity significantly above this median, while those in the bottom quartile fall well below. However, Return-on-Tangible-Equity should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Polycab India's current Return-on-Tangible-Equity of 26.62% is 295.8% above 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 Return-on-Tangible-Equity mean?
A high Return-on-Tangible-Equity can signal that a stock is expensive relative to its fundamentals. Return on tangible equity is the ratio of current-period net income to average two-period tangible equity. View historical data on Polycab India and its competitors. For the Industrial Products industry, the median Return-on-Tangible-Equity is 6.73 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Polycab India's current Return-on-Tangible-Equity is 26.62%, which is 28% above median its own 10-year median of 20.75. 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 ₹9,567.87, compared to a current price of ₹9,532.50 — trading 0.4% below its estimated fair value. The current Return-on-Tangible-Equity is 26.62%, which is 28% above median its 10-year median of 20.75 and 295.8% above the Industrial Products industry median of 6.73. Polycab India's overall GF Score™ is 97/100 with 6 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Return-on-Tangible-Equity calculated?
Return-on-Tangible-Equity is calculated from a company's financial statements. For Polycab India (NSE:POLYCAB), the current Return-on-Tangible-Equity is 26.62% 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 undervalued.
The current stock price of ₹9,532.50 is trading 0.4% below its estimated GF Value™ of ₹9,567.87.
GuruFocus considers Polycab India to be Fairly Valued.
Key valuation signals for NSE:POLYCAB:
Return-on-Tangible-Equity: 26.62% (28% above median its 10-year median of 20.75)
GF Value™: ₹9,567.87 vs. price of ₹9,532.50 (0.4% below fair value)
Industry Position: 295.8% above the Industrial Products median (#340 of 2970)
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.
97GF Score
Get the complete analysis for NSE:POLYCAB
Return-on-Tangible-Equity is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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