Polycab India Q2 Review: Jefferies, Citi Maintain Buy After Q2 Upbeat; JPMorgan Retains Overweight
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓Polycab India reported strong September quarter results, with net profit rising 42.6% to Rs 977 crore and revenue growing 52.8% to Rs 9,899 crore.
- ✓Jefferies, Citi, and JPMorgan kept their bullish ratings after the upbeat performance.
- ✓Citi raised its target price to Rs 11,600, noting that underlying demand remains robust.
Story at a Glance
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- MARKET
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- NDTV Profit
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- 3 Minute(s)
- Market Focus
- India Economy
Polycab India's September quarter performance has drawn positive views from Jefferies, Citi, and JPMorgan, with all three brokerages retaining bullish ratings after the company reported strong growth in profit and revenue. Jefferies and JPMorgan cut their target prices marginally, while Citi raised its target to Rs 11,600 from Rs 10,900, citing strong underlying demand and robust execution. Brokerages also highlighted the outlook for cables and wires, export growth, and competitive intensity as key factors to track.
Polycab India Q2 Results At A Glance
Net profit: Rose 42.6% YoY to Rs 977 crore
Revenue: Increased 52.8% YoY to Rs 9,899 crore from Rs 6,477 crore.
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