Sharekhan's research report on Polycab India
Q1FY2024 was driven by sharp volume growth of 50-60% in C&W. Strong OPM and profitability expansion was led by operating leverage, better product mix, and exports. Demand momentum continues to be robust across infrastructure, real estate, and various industries in both domestic and international markets. FMEG business would see improvement in the coming quarters, particularly fans, switchgear, and switches segments. We have built in a revenue/PAT CAGR of ~20%/24% over FY2023-FY2025E.
Outlook
We have increased our target multiple and retain Buy on Polycab India Limited (Polycab) with a revised PT of Rs. 4,970 (based on FY2025E EPS), considering multiple growth triggers and its consistent outperformance vs. peers.
For all recommendations report, click here
Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
Find the best of Al News in one place, specially curated for you every weekend.
Stay on top of the latest tech trends and biggest startup news.
