Buy Polycab India: target of Rs 1530: Sharekhan

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Sharekhan's research report on Polycab India

Strong traction in new launches and demand from residential housing would drive the company’s housing wires and FMEG businesses. Exports would aid revenue growth in cables & wires segment, for which global market is estimated at $140-150 billion with imports of $35-40 billion; company’s addressable market remains at ~$15 billion. Company to deepen its presence in semi-urban and rural markets; focus on premiumisation and increasing share of FMEG sales in existing network to drive the business.

Outlook

We retain a Buy on Polycab India Limited (Polycab) with a revised PT of Rs. 1,530, given the improvement in demand in underlying user-industries.

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