Polycab - Wires & Cables demand in multiple sectors

5月17日

Concall

• Polycab...3K Cr Capex over 3Y. A bit towards backward integration(improves efficiency) & FMEG segment
  
• Seen 30-40% volume growth in Q4 & last year. Industry at 22% growth
  
• No material impact in pricing pressure despite rise in commodities(copper & Aluminium) pricing. Mgmt seems to have witnessed this
  
• G8 demand in Infrastructure, Power, Renewable energy, EV, Railways sectors...and so capacity expansion.
  
• Seems to be an article published mentioning power deficit in India in June
  
• 12-13% consistent margins achievable over long time
  
• Distributors playing key role in sales.. Cuz only 10% customers directly buying from company. 89-90% sales is thro' distributors...
  
• RDSS govt project open orders close to Rs. 50 Bn
  
• FY 23 closed with 18K Cr revenue. Previously set target was 20K Cr top line by FY 26. But this will be revised(increased) by this FY
  

10月3日

ノート

Will reach 8K by end of October

11月6日

ノート

3 Years for construction & 10 years of Maintenance Contract @ 5.5% per annum of capex for 1st 5 years & @ 6.5% per annum of capex for next 5 y
BSNL contract worth 4099.69Cr

12月16日

ノート

Prabhudas Lillodher is bullish on Polycab India has recommended buy rating on the stock with a target price Of Rs 8741 in its research report dated December 13.2024.

He has met with the management of POLYCAB to discuss the company's performance. growth prospects, and strategic priorities. POLYCAB is witnessing healthy demand in cables and wires, with opportunities in EHV and OFC segments driven by growth in real estate. government capex and private infrastructure. Despite a slowdown in exports, recovery is anticipated from FY26, driven by growth in regions such as the US and Middle East.