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Dolat Capital Report
We interacted with dealers/distributors of cables and wires in one of the largest marketplaces in Delhi (Bhagirath Palace) to analyse the current ground situation, post the weak trade sentiments arising out of volatile commodity prices in June 2022. Key takeaways of our interaction are- I
During June, cable and wires dealers had resorted to inventory destocking due to falling copper/aluminium prices, so that they do not lose on the margins. This continued in July 2022 and part of August 2022 as well.
However, inventory stocking in channels picked up in last 15 days of August 2022, with improved trade sentiment as well as consumer demand. Presently, there is a mix of high and low cost inventory with distributors.
Most of the dealers indicated that Polycab India Ltd. is the leading brand among consumers in the region. This can be attributed to its pricing, availability and quality. As per a distributor, Polycab enjoys market share of ~25% in Delhi.
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