External broker reports(aggregated public sources), Axis Direct

Axis Direct

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External broker reports(aggregated public sources)

2023 High Conviction | Polycab: A High Quality Play on Rise of India as a Manufacturing Hub

2023 High Conviction Update | Polycab: Played Out As Anticipated, Now Time to Exit

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.

Equity Bottom-Up

<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><p><em>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.</em></p>

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