Buy Polycab India; target of Rs 11,083: Prabhudas Lilladher
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓Prabhudas Lilladher issued a buy rating for Polycab India with a target price of Rs 11,083.
- ✓The company saw revenue grow 47% in Q2FY27, helped by strong demand in government and private sectors.
- ✓While the EHV plant got delayed, the FMEG segment showed strong performance with revenue growing 124% year-on-year.
Story at a Glance
- Category
- BUSINESS
- Reported By
- MoneyControl
- Reading Speed
- 2 Minute(s)
- Market Focus
- India Economy
Prabhudas Lilladher's research report on Polycab India Wires & Cables (W&C) delivered a strong performance in Q2FY27, with revenue growing 47% YoY and domestic W&C revenue increasing 50% YoY, supported by healthy demand across government and private sectors, strong execution and favourable commodity-linked realizations. Volume growth remained in the mid-to-high single digits on a strong base, with wires outperforming cables and channel sales growing faster than institutional sales.
exports grew 17% YoY despite geopolitical challenges. EBIT margin improved sequentially by ~90 bps to 14.2%, driven by operational efficiencies and a favourable product mix. Management remains confident of sustaining medium-to-long-term W&C EBIT margins within its guided range of 11- 13%. However EHV plant commissioning has been delayed from Dec'27 to FY28, pushing back the timeline for capacity ramp-up.
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