Dolat Capital: Polycab India Q2 - Beat Estimates With Strong PAT Growth
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Dolat Capital Report
Polycab India Ltd. revenues came in at Rs 21.1 billion, down by 6% YoY, while Ebitda at Rs 3.1 billion was up 15% YoY but profit after tax was up by 14% YoY at Rs 2.2 billion ahead of estimates.
Cash conversion cycle (CCC) days was flat compared to Q4 FY20 at 85 days in Q2 FY21, but inventory was higher at 96 days compared to 80 days in March 2020 quarter.
Cash generated from operations in H1 was Rs 7.8 billion with a net C&CE of Rs 6.8 billion.
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