External broker reports(aggregated public sources), Prabhudas Lilladhar

Prabhudas Lilladhar

External broker reports(aggregated public sources)

Prabhudas Lilladher is one of India's leading research based financial services organisation.

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.

Equity Bottom-Up

<ul><li>Prabhudas Lilladher's research report onPolycab India Polycab reported healthy revenue growth of 29.3% YoY in Q4FY24, on account of robust volume growth in W&amp;C domestic business.</li><li>Growth was largely from cable business on the back of government &amp; private capex and uptick in real estate.</li><li>The company expects sustained volume growth in dom.</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.

Prabhudas Lilladher's research report onPolycab India Polycab reported healthy revenue growth of 29.3% YoY in Q4FY24, on account of robust volume growth in W&amp;C domestic business.Growth was largely from cable business on the back of government &amp; private capex and uptick in real estate.The company expects sustained volume growth in dom.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 (POLYCAB IN) - Robust Volume Growth to Drive Revenue

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>The company reported revenue growth of 29% YoY to Rs 5,592 Cr, which stood 17% above our estimates.</li><li>Wires &amp; Cables segment grew by 19% YoY to Rs 4,865 Cr, thanks to favourable industry demand and robust volume growth.</li><li>Higher execution in project business resulted in EPC (Others) segment’s growth of 275% YoY to Rs 502 Cr.</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.

The company reported revenue growth of 29% YoY to Rs 5,592 Cr, which stood 17% above our estimates.Wires &amp; Cables segment grew by 19% YoY to Rs 4,865 Cr, thanks to favourable industry demand and robust volume growth.Higher execution in project business resulted in EPC (Others) segment’s growth of 275% YoY to Rs 502 Cr.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 - Robust Volume Growth Led by Strong Demand Environment

<ul><li>Polycab has maintained a leadership position in the organized C&amp;W segment with a leading market share.</li><li>With a strong network and re-aligned distribution strategy aided by strong brand recall, the company continues to gain market share in Wires &amp; Cables and improved performance in the FMEG business.</li><li>The management expects strong traction in domestic Cables &amp; Wires, increasing contribution from exports and strong demand led by government spends, private Capex, and increasing real estate demand.</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 has maintained a leadership position in the organized C&amp;W segment with a leading market share.With a strong network and re-aligned distribution strategy aided by strong brand recall, the company continues to gain market share in Wires &amp; Cables and improved performance in the FMEG business.The management expects strong traction in domestic Cables &amp; Wires, increasing contribution from exports and strong demand led by government spends, private Capex, and increasing real estate demand.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 - Sustained Growth Momentum

Thematic (Sector/Industry)

<ul><li>Cables &amp; Wires demand was buoyant during the quarter, though the overall demand for consumer durables remained moderate.</li><li>The demand was driven by government spends on infrastructure projects along with stale demand from overseas markets.</li><li>Furthermore, it was led by an increase in private Capex spending and real estate up-cycle. The demand for cooling products was tepid (being a seasonally soft quarter) with some brands resorting to discounts to clear inventory. </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.

Cables &amp; Wires demand was buoyant during the quarter, though the overall demand for consumer durables remained moderate.The demand was driven by government spends on infrastructure projects along with stale demand from overseas markets.Furthermore, it was led by an increase in private Capex spending and real estate up-cycle. The demand for cooling products was tepid (being a seasonally soft quarter) with some brands resorting to discounts to clear inventory. 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>Strong growth in C&amp;W while FMEG witnessed muted growth: Polycab India reported revenues of Rs 3,889 Cr, up 42% YoY, far exceeding our expectations of Rs 3,125 Cr.</li><li>Revenues growth was driven by healthy volume growth in the Cables &amp; Wires segment supported by strong traction in international business.</li><li>Cables &amp; Wires revenue for the quarter grew by 46% YoY to Rs 3,534 Cr, while the FMEG segment grew 3% QoQ during the quarter.</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.

Strong growth in C&amp;W while FMEG witnessed muted growth: Polycab India reported revenues of Rs 3,889 Cr, up 42% YoY, far exceeding our expectations of Rs 3,125 Cr.Revenues growth was driven by healthy volume growth in the Cables &amp; Wires segment supported by strong traction in international business.Cables &amp; Wires revenue for the quarter grew by 46% YoY to Rs 3,534 Cr, while the FMEG segment grew 3% QoQ during the quarter.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 - Robust Growth Led by Strong Demand Environment

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)