Polycab India - Better Than Expected Q3 Numbers: Dolat Capital
Polycab India wires. (Image: Company Website)

Polycab India - Better Than Expected Q3 Numbers: Dolat Capital

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 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.

Click on the attachment to read the full report:

Dolat Capital Polycab India Q3FY21 Result Update.pdf

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