Polycab Q3 Results Review - Strong Volume Growth In Cable and Wire; Fmcg Disappoints: Dolat Capital

NDTV Profit’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer NDTV Profit’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..Dolat Capital Report.Polycab India Ltd. continued momentum in cable and wire with 17% YoY growth (four year compound annual growth rate of 16%) in Q3 led by 20% volume growth in domestic business. Fmcg was a dampener with 13% YoY revenue decline and widened operating losses of Rs 366 million. Gross margin improved 130 basis points, however, Ebitda margin fell 40 bps to 13.1% in Q3 mainly due to higher advertising and promotion spends..With structural drivers in place, strong traction in cable and wires segment is expected to continue. Polycab India is confident of achieving targeted revenue of Rs 200 billion ahead of FY26E timeline. Polycab’s management has clarified that it has not received any official communication from information technology department regarding outcome of searches conducted and that its operations are on track. We have slightly tweaked our earning per share estimates for FY24E/25E/26E to Rs 110/131/154 respectively. At current market price, the stock is trading at a discount to peers. We have cut our price/earning to 32 times FY26E (from 37 times) to factor in the uncertainties related to Income Tax raid. Maintain 'Accumulate' with a reduced target price of Rs 4,974 (versus Rs 5808 earlier)..Click on the attachment to read the full report:.UltraTech Cement Q3 Results Review - Strong And A Robust Outlook Enhances Optimism: Systematix.DISCLAIMERThis report is authored by an external party. NDTV Profit does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of NDTV Profit..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Polycab Q3 Results Review - Strong Volume Growth In Cable and Wire; Fmcg Disappoints: Dolat Capital

To address the underwhelming performance in Fmcg, the segment will undergo internal restructuring, and is expected to stabilize in next three-four quarters.

NDTV Profit

NDTV Profit

Follow Us

DOWNLOAD THE APP

Polycab Q3 Results Review - Strong Volume Growth In Cable and Wire; Fmcg Disappoints: Dolat Capital

To address the underwhelming performance in Fmcg, the segment will undergo internal restructuring, and is expected to stabilize in next three-four quarters.

Choose a plan

Follow Us

DOWNLOAD THE APP