Company News
Result Update – Polycab India, ICICI Direct
Strong performance led by the wire & cable business.
- Revenues were up ~11% YoY to ~| 3332 crore led by ~12% growth in the wire & cable segment. FMEG segment revenue de-grew ~11% YoY on a higher base and subdued rural demand
- Gross margin increased ~418 bps YoY supported by better product mix, judicial price revisions and lower RM costs. That helped drive
- EBITDA margin up by ~309 bps YoY to ~13%
- PAT up ~35% to | 271 crore YoY; tracking strong topline growth and EBITDA margin expansion
Key triggers for future price performance
- Set a target to achieve | 20,000 crore revenues by FY26 (13% CAGR)
- Beneficiary of the government’s plans to invest ~ | 111 lakh crore in FY20-25 under its National Infrastructure Pipeline
- Total ~1.7 crore new houses under PMAY, urbanisation and rising aspiration level will give a significant boost to demand for home appliances
- Model revenue, earnings CAGR of ~12%, respectively, in FY22-24E
For report, https://www.communicationstoday.co.in/result-update-polycab-india/
CT Bureau
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