Polycab India Q4 Review- Capex Cycle Revival, FMEG Key For Future Growth: ICICI Direct

Wires and cables sit at a computer centre in U.S. (Photographer: Bing Guan/Bloomberg)

Polycab India Q4 Review- Capex Cycle Revival, FMEG Key For Future Growth: ICICI Direct

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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 Ltd. reported a 100% sales recovery in FY21E despite a 50% loss of revenue in Q1.

Strong pent up demand and pick-up in infra spending post easing of lockdown restrictions helped the company cover up the loss of sales.

Segment wise, fast moving electrical goods reported strong growth of 24% year-on-year in FY21E led by new product launches and dealer additions.

Thus, segment revenue contribution in overall topline has also increased to 12% in FY21 vs. 9% in FY20.

On the wire & cable front, Polycab reported 100% sale recovery in FY21, better than 86% recovery of KEI Industries.

Click on the attachment to read the full report:

ICICI Direct Polycab India Q4FY21 Result Update.pdf

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