NSE ScannerComparison · NSE · data 2026-10-31
Bharat Heavy Electricals Limited vs Polycab India Ltd.
In plain words
Size: Bharat Heavy Electricals Limited is about 1.1 times the market value of Polycab India Ltd..
Valuation (P/E): Bharat Heavy Electricals Limited 46.9 vs Polycab India Ltd. 37.2.
Return on equity: Polycab India Ltd. 24.5% vs Bharat Heavy Electricals Limited 6.3%.
Profit growth over 3 years: Bharat Heavy Electricals Limited 34.7% a year vs Polycab India Ltd. 28.1% a year.
Debt to equity: Polycab India Ltd. 0.37 vs Bharat Heavy Electricals Limited 0.31.
Differences in the numbers, not a recommendation of either stock.
Side by side
| BHEL | POLYCAB | |
|---|---|---|
| Price | ₹387.6 | ₹7,787 |
| Market cap | ₹1,34,878 cr | ₹1,17,551 cr |
| P/E | 46.9 | 37.2 |
| P/B | 5 | 9 |
| ROE | 6.3% | 24.5% |
| ROCE | 3.0% | 32.3% |
| Debt / equity | 0.31 | 0.37 |
| Operating margin | 9.3% | 12.6% |
| Dividend yield | 0.36% | 0.60% |
| Sales growth, 3 years (yearly) | 13.2% | 27.0% |
| Profit growth, 3 years (yearly) | 34.7% | 28.1% |
| 1-year return | 52.6% | 0.7% |
| Revenue, last 12 months | ₹37,782 cr | ₹34,548 cr |
| Net profit, last 12 months | ₹2,879 cr | ₹3,156 cr |
| Latest quarter | Dec 2025 | Sept 2026 |
| Quarter net profit | ₹390 cr | ₹977 cr |
| Quarter profit vs a year earlier | — | +42.6% |
| Promoter holding | 63.17% | 61.44% |
| Health check | Strong (6.5/10) | Strong (7.2/10) |
Common questions
Which has a higher P/E, Bharat Heavy Electricals Limited or Polycab India Ltd.?
Bharat Heavy Electricals Limited trades at the higher P/E (46.9 against 37.2). A higher P/E means the market pays more for each rupee of past earnings; on its own it does not say which is better.
Which earns a higher return on equity?
Polycab India Ltd. (24.5% against 6.3%).
Which carries more debt?
Polycab India Ltd. has the higher debt-to-equity ratio (0.37 against 0.31).