ICICI Direct has given Buy recommendation for Polycab India recommended buy rating on the stock with a target price of Rs 3300 in its research rep with a target price of Rs. 3300 in its research report issued on Oct 19, 2022
ICICI Direct’s research report on Polycab India
Polycab is the largest manufacturer of wire & cable in India. The company also entered the fast moving electrical goods (FMEG) space in 2014 and has recorded strong segment revenue CAGR of 32% in the last five years. Polycab is the market leader in the wire & cable business with organised market share of 22-24%. In the FMEG segment, it is growing through new product launches and dealer addition across India. The company has ~4600 dealers, serving ~2 lakh retail outlets • Robust b/s with RoE, RoCE of 18%, 22%, respectively, (three-year average).