Sharekhan has given Buy recommendation for Polycab India with a target price of Rs. 3215 in its research report issued on Oct 19, 2022
Sharekhan’s research report on Polycab India
Q2FY2023 performance was led by healthy volume growth in Wires & Cables (W&C) and sharp increase in gross/operating margins. Augmentation of exports, strong traction in Etira brand, capacity expansion and improving working capital cycle bodes well for long-term growth. Company is well-poised to leverage the rising demand for W&C through its large product basket and deeper penetration.