Polycab India - In-Line Q4; Long-Term Growth Outlook Intact: Anand Rathi
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.
Anand Rathi Report
Driven by domestic cables and wires/fast moving electrical goods (up ~70%/89% YoY) and a 13.9% Ebitda (stable QoQ), Polycab India Ltd.’s Q4 revenue/profit after tax were up 43%/32% YoY (in line).
Its vision of over Rs 200 billion revenue by FY26 (18% implied compound annual growth rate) further strengthens our belief in its robust outlook.
Rising infra spend, export opportunity and its expansion in adjacent categories will drive its business-to-business portfolio.
Fast moving electrical goods crossed Rs 10 billion revenue in FY21, a 25% compound annual growth rate (FY16-21: 37%) and margin expansion will hold in coming years.
Click on the attachment to read the full report:
This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BloombergQuint.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.