ICICI Direct: Polycab India - B2C Category Drives Q2 Performance 
Components for HD LED TVs cables are seen on an assembly line in Uttar Pradesh, India. (Photographer: Udit Kulshrestha/Bloomberg)

ICICI Direct: Polycab India - B2C Category Drives Q2 Performance 

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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.

ICICI Direct Report

Polycab India Ltd. reported a strong recovery in the business during Q2 FY21 post easing of lockdown restrictions.

Consolidated revenue fell approximately 6% YoY in Q2 FY21 led by a similar decline in revenue of its core business i.e. wire and cable.

While cable demand remained muted throughout the quarter, the housing wire segment (approximately 40% of total wire and cable segment) witnessed strong double digit growth in Q2 FY21 supported by good demand from semi urban and rural regions.

Despite such a challenging scenario, gross margins increased approximately 180 basis points YoY led by better mix.

Click on the attachment to read the full report:

ICICI Direct Polycab Q2FY21 Result Update.pdf

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