We met with the management of POLYCAB to discuss the company’s performance, growth prospects, and strategic priorities. POLYCAB is witnessing healthy demand in cables and wires, with opportunities in EHV and OFC segments driven by growth in real estate, government capex and private infrastructure. Despite a slowdown in exports, recovery is anticipated from FY26, driven by growth in regions such as the US and Middle East.
OutlookWe expect revenue/EBITDA/ PAT CAGR of 17.5%/17.1%/15.5% over FY24-27E. We maintain our ‘BUY’ rating.
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