Polycab India - Better Than Expected Q3 Numbers: Dolat Capital
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Dolat Capital Report
Polycab India Ltd.’s Q3 numbers came in better than estimates with higher sales, Ebitda and profit after tax by 12%, 11% and 19% YoY respectively.
Working capital days came in lower sequentially at 56 days at Q3 compared to 85 days in Q2 FY21, with a major rise in payables.
The company has comfortable liquidity position with C&CE of Rs 13.9 billion and cash flow from operations of Rs 7.7 billion in Q3.
Wires and cables margins came in marginally higher by 86 basis points YoY at 12.9% while fast moving electrical goods margins saw an exponential increase of 530 basis points YoY to 5.9% in Q3 FY21.
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