BQ Blue’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 BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
Dolat Capital Report
Polycab India Ltd.'s Q2 saw sales grew 46% YoY to Rs 31.3 billion, while Ebitda fell 3% to Rs 3 billion.
Overall Ebitda margin came in at 9.7%, down 510 basis points mainly due to gross margin pressure.
Net cash position in Q2 was Rs 8.7 billion lower as compared to Q1 FY22 which was at Rs 6.7 billion, as working capital improved with cash conversion cycle at 57 days versus 67 days in FY21.
Polycab India has a multi-year growth strategy, where they target sales of Rs 200 billion by FY26.
This translates into ~18% compound annual growth rate over the next five years.
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