Polycab India Q4 Results Review - Yet Again Strong Performance, Led By Export: Prabhudas Lilladher

BQ Prime’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 BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy. .Prabhudas Lilladher Report.Polycab India Ltd. reported healthy revenue growth of 16%/9% YoY in FY23/Q4 FY23, despite high base and lower commodity prices on the back of healthy volume growth in cables business. Profitability (52%/32% in FY23/Q4 FY23) was largely led by volume growth and improvement in margins by 270 basis points/200 bps through judicious price revisions and favorable business mix. Polycab aims to achieve Rs 200 billion revenue by FY26E under Project LEAP given-sustained growth from infrastructure/real estate/construction activities,focus on business-to-consumer through deepening reach and premiumisation of product portfolio,continued go-to-market expansion andgains from shift in consumer demand from unorganised to organised sector. We expect 14.1%/14.8% sales/profit after tax compound annual growth rate over FY23-25, on back of healthy domestic demand environment supported by government measures and revival in private capex and strong traction in export revenue with increase in international coverage. Accordingly we increase our FY24/FY25 earnings estimate by 2.7%/3.8% to mainly reflect upward revision in top-line growth assumption and margin improvement with product mix..Click on the attachment to read the full report:.Polycab Q4 Results Review: Analysts Raise Earnings Estimate, Target Price After Profit Beat.DISCLAIMERThis report is authored by an external party. BQ Prime 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 BQ Prime..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Polycab India Q4 Results Review - Yet Again Strong Performance, Led By Export: Prabhudas Lilladher

Reported all time high revenue of Rs 43.2 billion and profit after tax of Rs 4.3 billion in quarter.

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