Maryslanker at 16:09, 14 April 2026

2026-04-14T16:09:23Z

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{{Short description|Indian electrical equipment company}}
{{Use dmy dates|date=July 2025}}
{{Use Indian English|date=July 2025}}
{{Infobox company
| name = Polycab India
| logo = Polycab India logo.png
| logo_caption = Polycab India logo
| image = Auto EV Bharat 4.0, KTPO Exhibition and Convention Centre, Bangalore (2025) 52.jpg
| image_caption = Polycab India at Auto EV Bharat 4.0, [[KTPO Exhibition and Convention Centre, Bangalore|KTPO Exhibition centre]], Bangalore (2025)
| type = [[Public company|Public]]
| traded_as = {{BSE|542652}}<br>{{NSE|POLYCAB}}
| industry = [[Electrical equipment]]
| founded = 1964
| founder =
| hq_location = [[Mumbai]], India
| area_served = India
| key_people = Inder T. Jaisinghani <small>(Chairman and Managing Director)</small>
| products = Wires and cables, electric fans, LED lighting and luminaires, switches and switchgear, solar products, conduits and accessories
| revenue = {{increase}} {{INRconvert|18039|c}} (2024)<ref name=f/>
| net_income = {{increase}} {{INRconvert|1802|c}} (2024)<ref name=f>{{cite news |title=Polycab India |url=https://www.indiainfoline.com/company/polycab-india-ltd/management-discussions |publisher=[[India Infoline]] |date=March 2024}}</ref>
| num_employees =
| parent =
| subsid =
| website = {{URL|https://polycab.com/}}
}}
'''Polycab India Limited''' is an Indian [[electrical equipment]] company based in [[Mumbai]], [[India]]. The company manufactures and sells electrical products, including wires and cables, [[electric fan]]s, [[LED lighting]] and luminaires, [[switch]]es and [[switchgear]], solar products, and conduits and accessories.<ref name=Forbesindia>{{cite news |last1=Tripathi |first1=Naandika |title=Polycab India: Switching gears |url=https://www.forbesindia.com/article/work-in-progress/polycab-india-switching-gears/58615/1 |work=[[Forbes India]] |date=3 April 2020}}</ref> It also operates in the [[engineering, procurement, and construction]] (EPC) sector.<ref name=C/>

In 2023, the company was ranked 161st on the [[Fortune India 500]] list in 2023, with revenues of {{INR}}14,206 crores.<ref name=A>{{cite news |title=Fortune India 500 listing |url=https://www.fortuneindia.com/fortune-500/company/polycab-india?year=2023 |publisher=[[Fortune India]] |date=2023}}</ref> It is the largest wire and cable manufacturer in India and holds 25% to 26%<ref>{{cite news |last1=Agarwal |first1=Manvi |title=Polycab is wired for growth, but risks of a shock persist |url=https://www.livemint.com/market/mark-to-market/polycab-stock-is-wired-for-growth-but-risks-of-a-shock-persist-11715597963456.html |date=13 May 2024 |archive-url=https://web.archive.org/web/20240513115139/http://www.livemint.com/market/mark-to-market/polycab-stock-is-wired-for-growth-but-risks-of-a-shock-persist-11715597963456.html |archive-date=13 May 2024}}</ref> of the market share in the wires and cables sector in India.<ref>{{cite news |last1=Tripathi |first1=Naandita |title=Polycab India IT raids: All you need to know |url=https://www.forbesindia.com/article/news/polycab-india-it-raids-all-you-need-to-know/90851/1 |work=[[Forbes India]] |date=15 January 2024}}</ref> As of March 2023, the company operates 28 manufacturing units in [[Gujarat]], [[Maharashtra]], [[Karnataka]], [[Uttarakhand]], [[Tamil Nadu]], and the [[Union Territory of Daman and Diu|Union Territory of Daman]],<ref>{{cite news |last1=Joseph |first1=Lancelot |title=Polycab takes a leap forward |url=https://businessindia.co/magazine/polycab-takes-a-leap-forward |publisher=[[Business India]] |date=23 February 2023}}</ref> along with over 29 warehouses across India.<ref>{{cite news |last1=Jain |first1=Sakshi |title=I-T dept searches 50 premises of Polycab India; unaccounted cash transactions suspected |url=https://www.deccanherald.com/india/i-t-dept-seaches-50-premises-of-polycab-india-across-country-unaccounted-cash-transactions-suspected-2821935 |publisher=[[Deccan Herald]] |date=22 December 2023}}</ref> The company is included in the [[MSCI]] Standard Index,<ref>{{cite news |title=MSCI adds 9 Indian stocks, no exits |url=https://www.thehindubusinessline.com/markets/msci-adds-9-indian-stocks-no-exits/article67534611.ece |publisher=[[Business Line]] |date=15 November 2023}}</ref> and is a constituent of the Nifty Midcap 100 Index<ref>{{cite news |title=Nifty Midcap 100 |url=https://www.businesstoday.in/indices/nifty-midcap-100 |publisher=[[Business Today (India)|Business Today]] |date=August 2024}}</ref> and the BSE 200 Index.{{cn|date=April 2025}}

[[File:Auto EV Bharat 4.0, KTPO Exhibition and Convention Centre, Bangalore (2025) 110.jpg|thumb|right|Polycab India's wires and cables at display in Auto EV Bharat 4.0]]

== History ==
The company's origins date back to 1964 with the establishment of Sind Electric Stores in [[Lohar Chawl]] by Thakurdas Jaisinghani, who had moved to [[Mumbai|Bombay]] from [[Pakistan]] after the [[Partition of India]]. This store dealt in various electrical products like fans, lighting fixtures, switches, and wires. By 1975, the company established Thakur Industries and a land was acquired from the [[Maharashtra Industrial Development Corporation]] in [[Andheri]], Mumbai, for the construction of a cable and wire manufacturing facility.<ref name=Forbesindia/>

In 1983, the company formally entered the electrical goods manufacturing sector with the founding of Polycab Industries by Inder T. Jaisinghani and his brothers. A factory was established in [[Halol]], [[Gujarat]], for the production of PVC insulated wires and cables, copper and aluminum, and bare copper wire.<ref name=Forbesindia/>

In May 2008, the company entered into a joint venture with [[Nexans]], a French cable manufacturer. The joint venture, with an initial investment of $37 million, focused on the production of rubber cables for the shipbuilding, railway, and wind power industries.<ref>{{cite news |title=Polycab in JV with Nexans of France for rubber cables |url=https://economictimes.indiatimes.com/industry/energy/power/polycab-in-jv-with-nexans-of-france-for-rubber-cables/articleshow/3005813.cms |publisher=[[The Economic Times]] |date=3 May 2008}}</ref> In 2009, the company entered the [[engineering, procurement, and construction]] (EPC) sector, offering services covering the design, engineering, supply, execution, and commissioning of power distribution and rural electrification projects.<ref name=D/>

In September 2008, the [[International Finance Corporation]], the private investment arm of the [[World Bank]], acquired a 12% stake in Polycab Wires for {{INR}}551.5 crore (US$120 million). This transaction valued the company's cable manufacturing business at ₹4,600 crore (US$1 billion).<ref>{{cite news |last1=Sinha |first1=Vivek |title=IFC to acquire 12% in Polycab for Rs 552 cr |url=https://economictimes.indiatimes.com/industry/indl-goods/svs/engineering/ifc-to-acquire-12-in-polycab-for-rs-552-cr/articleshow/3515439.cms?from=mdr |publisher=[[The Economic Times]] |date=23 September 2008}}</ref> In 2014, Polycab India Limited expanded its product range to include electric fans, LED lighting and luminaires, switches and switchgear, solar products, and conduits and accessories.<ref name=D>{{cite news |title=Polycab India jumps 22% on market debut |url=http://economictimes.indiatimes.com/markets/stocks/news/polycab-india-debuts-at-18-premium-over-issue-price/articleshow/68899797.cms |publisher=[[The Economic Times]] |date=16 April 2019 |archive-url=https://web.archive.org/web/20190505111007/http://economictimes.indiatimes.com/markets/stocks/news/polycab-india-debuts-at-18-premium-over-issue-price/articleshow/68899797.cms?from=mdr |archive-date=5 May 2019}}</ref><ref name=C/>

In 2013, the company formed a joint venture with [[Nexans]], holding a 49% stake, to establish production facilities in Gujarat. The investment for this venture amounted to $55 million (approximately {{INR}}320 crore).<ref>{{cite news |title=French cable maker ties up with Polycab |url=https://www.business-standard.com/article/companies/french-cable-maker-ties-up-with-polycab-108022001102_1.html |publisher=[[Business Standard]] |date=5 February 2013}}</ref> In 2014, Polycab India Limited expanded its product range to include electric fans, LED lighting and luminaires, switches and switchgear, solar products, and conduits and accessories.<ref name=D/>

Polycab India Limited established a 50:50 joint venture named Ryker Base with [[Trafigura]] (Singapore) in 2016 to strengthen its backward integration for copper. The company acquired full ownership in May 2020<ref>{{cite news |title=Polycab India buys 50% stake in Ryker from Trafigura |url=https://www.business-standard.com/article/news-cm/polycab-india-buys-50-stake-in-ryker-from-trafigura-120050400559_1.html |publisher=[[Business Standard]] |date=4 May 2020}}</ref> and subsequently, Ryker Base was acquired by [[Hindalco Industries]], a subsidiary of the [[Aditya Birla Group]] in November 2021 for ₹323 crore.<ref>{{cite news |last1=Divekar |first1=Aditi |title=Hindalco Industries acquires Ryker Base for enterprise value of Rs 323 cr |url=http://www.business-standard.com/article/companies/hindalco-industries-acquires-ryker-base-for-enterprise-value-of-rs-323-cr-121110301055_1.html |date=3 November 2021 |archive-url=https://web.archive.org/web/20211103103927/http://www.business-standard.com/article/companies/hindalco-industries-acquires-ryker-base-for-enterprise-value-of-rs-323-cr-121110301055_1.html |archive-date=3 November 2021}}</ref>

== IPO ==
In October 2018, Polycab India filed its draft [[red herring prospectus]] (DRHP) with the [[Securities and Exchange Board of India]] for an [[initial public offering]].<ref name=C>{{cite news |last1=Singh Dhanjal |first1=Swaraj |title=IFC-backed wires maker Polycab files for $270 million IPO |url=https://www.livemint.com/Companies/3bM7d0Zg7YiKZ4Wldyn5dK/IFCbacked-wires-maker-Polycab-files-for-270-million-IPO.html |publisher=[[Livemint]] |date=31 October 2018}}</ref> The company went public in April 2019, listing on the [[National Stock Exchange of India]] and the [[Bombay Stock Exchange]]. The IPO was oversubscribed more than 52 times and raised ₹1,346 crore.<ref>{{cite news |last1=Tripathi |first1=Naandika |title=From Lohar chawl to Sewri, to $3.6 billion net worth |url=https://www.forbesindia.com/article/india-rich-list-2021/from-lohar-chawl-to-sewri-to-36-billion-net-worth-inder-jaisinghanis-journey-to-the-forbes-india-rich-list/71453/1 |work=[[Forbes India]] |date=10 November 2021}}</ref>

== Finance ==
The wires and cables segment accounted for 88% of the company's sales, the Fast-Moving Electrical Goods (FMEG) segment contributed 7%, and the remaining 5% came from other segments, primarily the EPC business.<ref name=f/> The company has received a long-term credit rating of AA+ (Positive) from both [[CRISIL]]<ref>{{cite web |title=Rating Rationale |url=https://www.crisil.com/mnt/winshare/Ratings/RatingList/RatingDocs/PolycabIndiaLimited_August%2003,%202023_RR_324595.html |publisher=[[CRISIL]] |date=3 August 2023}}</ref> and [[Fitch Ratings|India Ratings and Research]].<ref>{{cite news |title=India Ratings Affirms Polycab India's Bank Facilities at 'IND AA+'/Positive; Off Rating Watch with Negative Implications |url=https://www.indiaratings.co.in/pressrelease/71498 |publisher=India Ratings |date=17 July 2024}}</ref>

== Controversies ==
In December 2023, the [[Income Tax Department]] raided 50 offices of Polycab and discovered that the company had {{INR}}1,000 crore unaccounted cash sales, {{INR}}400 crore unaccounted cash payments made on its behalf by a distributor and {{INR}}100 crore non-genuine expenses.<ref>{{cite news |last1=Sampath |first1=Vineetha |title=Wires crossed: Polycab navigates uncertainty amid income tax raids |url=https://www.livemint.com/market/mark-to-market/wires-crossed-polycab-navigates-uncertainty-amid-income-tax-raids-11705225842025.html |access-date=22 November 2024 |work=Mint |date=15 January 2024}}</ref><ref>{{cite news |title=No written communication from I-T Dept regarding outcome of Dec raid: Polycab |url=https://economictimes.indiatimes.com/industry/indl-goods/svs/engineering/no-written-communication-from-i-t-dept-regarding-outcome-of-dec-raid-polycab/articleshow/110001164.cms |access-date=22 November 2024 |work=The Economic Times |date=10 May 2024}}</ref>

In March 2024, Polycab India's IT infrastructure was targeted by a [[ransomware]] attack attributed to the [[Lockbit]]<ref>{{cite news |last1=Tripathi |first1=Naandika |title=Polycab, Motilal Oswal, Bira91 among latest companies to be hit by ransomware attacks |url=https://www.forbesindia.com/article/news/polycab-motilal-oswal-bira91-among-latest-companies-to-be-hit-by-ransomware-attacks/92331/1# |work=[[Forbes India]] |date=29 March 2024}}</ref> group. The company subsequently reported that the incident did not have a significant impact on its core systems and operations.<ref>{{cite news |last1=Krishna |first1=Tanya |title=Polycab targeted by ransomware attack; company says core systems and operations not impacted |url=https://www.financialexpress.com/business/industry-polycab-targeted-by-ransomware-attack-company-says-core-systems-and-operations-not-impacted-3432321/ |publisher=[[The Financial Express (India)]] |date=21 March 2024}}</ref>

== Awards and recognition ==
Polycab India has been listed in the [[Fortune India 500]] list for five consecutive years, from 2019 to 2023.<ref name=A/> Inder Jaisinghani, the chairman and managing director of Polycab India, and his family were ranked at #32 in [[Forbes India]]'s 2023 list of the 100 Richest Individuals, with a net worth of $6.4 billion (approximately ₹53,298 crores).<ref name=B>{{cite news |last1=Shetty |first1=Karishma |title=Meet Inder Jaisinghani, the Indian businessman whose wealth almost doubled in 2023, making him one of India's richest people |url=https://www.gqindia.com/content/meet-inder-jaisinghani-the-indian-businessman-whose-wealth-almost-doubled-in-2023-making-him-one-of-indias-richest-people |publisher=[[GQ (Indian edition)|GQ]] |date=23 October 2023}}</ref> Jaisinghani was also featured on the Forbes India Rich List in 2022, ranking #60 with a net worth of $3.4 billion, and in 2021, ranking #57 with a net worth of $3.6 billion.<ref name=B/>

The company has been awarded the title of "Superbrand" by [[Superbrands |Superbrands India]].<ref>{{cite web |title=Superbrands in India |url=https://in.superbrands.com/brands/ |publisher=[[Superbrands]]|date=2024}}</ref> The company was awarded a silver medal in the Consumer Durable category at the ET Brand Equity's 2023 Trendies Awards by ''[[The Economic Times]]''.<ref>{{cite news |title=ET Brand Equity's 2023 Trendies Awards |url=https://brandequity.economictimes.indiatimes.com/trendies-awards2023/winners-list |publisher=[[The Economic Times]] |date=2023}}</ref> In 2019, the Employer Branding Institute recognized Polycab India with a National Best Employer Brand Award.<ref>{{cite web |title=Employer Branding Award 2019 |url=https://www.employerbrandingawards.com/winners/national-best-employer-brand/eb_win19.html |publisher=Employer Branding Award |date=2019}}</ref>

== References ==
{{reflist}}
{{Nifty 200 companies}}

{{commons category}}

[[Category:Indian brands]]
[[Category:Electrical engineering companies]]
[[Category:Manufacturing companies based in Mumbai]]
[[Category:Companies listed on the Bombay Stock Exchange]]
[[Category:Companies listed on the National Stock Exchange of India]]
[[Category:Electrical equipment manufacturers]]
[[Category:Engineering companies of India]]
[[Category:1964 establishments in Maharashtra]]
[[Category:2019 initial public offerings]]
[[Category:Manufacturing companies established in 1964]]

Polycab India - Revision history

Maryslanker at 16:09, 14 April 2026