In today’s briefing:
- 2023 High Conviction | Polycab: A High Quality Play on Rise of India as a Manufacturing Hub
2023 High Conviction | Polycab: A High Quality Play on Rise of India as a Manufacturing Hub
- Polycab is a high-quality wires/cables and FMEG brand, benefitting from growing domestic consumption and rising capex led by India gaining foothold in global manufacturing.
- Its FMEG business is currently in nascent stage representing just 10-12% of revenues but is poised to scale up exponentially over the next 3 years.
- Its Wires and Cables business, despite commanding a dominant 22%+ market share, has been gaining share and is benefitting from strong demand tailwinds, positioning it well for double-digit growth.
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