Buy Polycab India: target of Rs 2050: Sharekhan

Sharekhan is bullish on Polycab India has recommended buy rating on the stock with a target price of Rs 2050 in its research report dated June 07, 2021.

June 09, 2021 / 03:42 PM IST
 
 
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Sharekhan's research report on Polycab India


Polycab has outlined a five-year roadmap to achieve revenues of Rs 20,000 crore in FY26E with a greater focus on brand positioning, operations and business growth and strong emphasis on governance and sustainability outpacing industry growth. A strong balance sheet and net cash position provide comfort in the present environment. The company’s strong focus on expanding its distribution (currently at 4,100 dealers/distributors) will help deepen its presence in semi-urban and rural markets. The management highlighted that it expects Q2FY22 to be better than Q1 and H2FY22 to be better than H1FY2022.



Outlook


We retain a Buy on Polycab India Limited (Polycab) with a revised PT of Rs. 2050, given a rise in demand in underlying user-industries and strong growth outlook.


For all recommendations report, click here


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first published: Jun 9, 2021 03:42 pm

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