External broker reports(aggregated public sources), ICICI Securities Ltd

ICICI Securities Limited

External broker reports(aggregated public sources)

ICICI Securities Ltd

ICICI Securities Limited provides investment services. The Company provides corporate and investment banking, securities, wealth management, retail brokerage, initial public offerings, and advisory services. 

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Equity Bottom-Up

<ul>
<li>Polycab is the largest manufacturer of wire &amp; cable in India.</li>
<li>The company also entered the fast moving electrical goods (FMEG) space in 2014 and has recorded strong segment revenue CAGR of 32% in the last five years.</li>
<li>Polycab is the market leader in the wire &amp; cable business with organised market share of 22-24%.</li>
</ul>
Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.


Polycab is the largest manufacturer of wire &amp; cable in India.
The company also entered the fast moving electrical goods (FMEG) space in 2014 and has recorded strong segment revenue CAGR of 32% in the last five years.
Polycab is the market leader in the wire &amp; cable business with organised market share of 22-24%.

Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Polycab India - Core Segment Drives Performance…

External broker reports(aggregated public sources), Axis Direct

Axis Direct

Axis Direct is the flagship brand under Axis Securities Limited, a subsidiary of Axis Bank in India. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

<ul><li>Polycab India reported consolidated revenues of Rs 3,332 Cr (up 11% YoY and 22% QoQ), marginally higher than our estimates of Rs 3,285 Cr.</li><li>Strong demand and volume growth have offset the impact of softening copper prices and channel de-stocking.</li><li>The FMEG segment revenue degrew 12% YoY to Rs 305 Cr due to subdued demand in rural markets and re- alignment of the distribution network.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Polycab India reported consolidated revenues of Rs 3,332 Cr (up 11% YoY and 22% QoQ), marginally higher than our estimates of Rs 3,285 Cr.Strong demand and volume growth have offset the impact of softening copper prices and channel de-stocking.The FMEG segment revenue degrew 12% YoY to Rs 305 Cr due to subdued demand in rural markets and re- alignment of the distribution network.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Polycab India - Growth Driven By Cables & Wires Segment

Thematic (Sector/Industry)

<ul><li>Demand trends: The demand for Cables &amp; Wires has been healthy across residential, industrial, and infrastructure segments.</li><li>This coupled with an uptick in exports is expected to drive volume growth moving forward.</li><li>Meanwhile, the pricing is expected to remain moderate given softening of commodity prices, especially copper.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Demand trends: The demand for Cables &amp; Wires has been healthy across residential, industrial, and infrastructure segments.This coupled with an uptick in exports is expected to drive volume growth moving forward.Meanwhile, the pricing is expected to remain moderate given softening of commodity prices, especially copper.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Consumer Durables - Q2FY23 - Earnings Preview

<ul><li>Samvat 2078 was a year of peaks and troughs with a roller-coaster ride in the equity market across the world.</li><li>Since the last Diwali, the market has witnessed significant volatility led by liquidity reversal, policy tightening, the Russia-Ukraine geopolitical crisis, and rising inflation.</li><li>While these developments inflicted notable changes in the market regimes, especially with higher commodity prices of base metals and crude oil over the first half of the Samvat, a trend reversal was seen in the second half of the Samvat with the majority of commodity prices cooling off primarily due to the policy tightening and the expectation of a slowdown in global growth.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Samvat 2078 was a year of peaks and troughs with a roller-coaster ride in the equity market across the world.Since the last Diwali, the market has witnessed significant volatility led by liquidity reversal, policy tightening, the Russia-Ukraine geopolitical crisis, and rising inflation.While these developments inflicted notable changes in the market regimes, especially with higher commodity prices of base metals and crude oil over the first half of the Samvat, a trend reversal was seen in the second half of the Samvat with the majority of commodity prices cooling off primarily due to the policy tightening and the expectation of a slowdown in global growth.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

<ul><li>Axis Top Picks basket reported a resilient performance with an astounding return of 143% since its inception, notably beating an 84% return reported by the benchmark NIFTY 50 Index over the same period.</li><li>A few picks that reported encouraging returns amidst prevailing volatility included APL Apollo Tubes (9.6%), Astral (6.7%), CCL Products (4.7%), and HealthCare Global Enterprises (4.4%)</li><li>PoW delivered an excellent cumulative strike rate of 72% in Sep’22.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Axis Top Picks basket reported a resilient performance with an astounding return of 143% since its inception, notably beating an 84% return reported by the benchmark NIFTY 50 Index over the same period.A few picks that reported encouraging returns amidst prevailing volatility included APL Apollo Tubes (9.6%), Astral (6.7%), CCL Products (4.7%), and HealthCare Global Enterprises (4.4%)PoW delivered an excellent cumulative strike rate of 72% in Sep’22.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

India

Polycab India Limited produces and distributes electronic equipment. The Company offers cables, wires, fans, switches, lighting, junction boxes, circular lids, and pumps. Polycab India serves customers in India.   

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Polycab India (POLYCAB IN)

Polycab India - Core Segment Drives Performance…

The company also entered the fast moving electrical goods (FMEG) space in 2014 and has recorded strong segment revenue CAGR of 32% in the last five...

ICICI Securities Limited

Polycab India - Growth Driven By Cables & Wires Segment

Polycab India reported consolidated revenues of Rs 3,332 Cr (up 11% YoY and 22% QoQ), marginally higher than our estimates of Rs 3,285 Cr.

Axis Direct

Consumer Durables - Q2FY23 - Earnings Preview

Demand trends: The demand for Cables & Wires has been healthy across residential, industrial, and infrastructure segments.

Axis Direct

Axis Diwali Muhurat Picks: SAMVAT 2079

Since the last Diwali, the market has witnessed significant volatility led by liquidity reversal, policy tightening, the Russia-Ukraine...

Axis Direct

Axis Research Scorecard Report - Sep 22

Axis Top Picks basket reported a resilient performance with an astounding return of 143% since its inception, notably beating an 84% return...

Axis Direct

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