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Polycab India awaits strong recovery in 2021

Investors should look to add the Polycab stock on dips as the recovery in business strengthens the case for multiple expansion in the next 2-3 quarters

February 04, 2021 / 10:55 AM IST
Polycab India awaits strong recovery in 2021

Polycab India | India Ratings has upgraded the long term rating from 'AA' to 'AA+.

PRO Only Highlights
Quarterly performance largely backed by improved realisations
Medium-term triggers China plus and protectionist measures for tyre industry
Valuations not inexpensive; but improved medium-term outlook

Wire and cables manufacturer Polycab India had a solid Q3 FY21 with margins and cash flows benefiting from an improved demand scenario and a prudent cost management strategy. The company is seeing strong momentum in retail markets and the management is optimistic that the recent trends will contribute to a strong recovery in 2021 from a low base. Quarterly result highlights Polycab India Q3 revenues rose 12 per cent year on year (YoY) to Rs 2,799 crore. A pick-up in consumer...

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