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Polycab India Ltd share Price Today

Company details

5,004.00
5,116.00
2,783.45
5,733.00
6M Return -5.51%
1Y Return 82.25%
Mkt Cap.(Cr) 76,059.59
Volume 359,484
Div Yield 0.39%
OI
-
OI Chg %
-
Volume 359,484

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An upbeat performance…
About The Stock

    Polycab is the largest manufacturer of wire & cable in India. The company also entered the fast moving electrical goods (FMEG) space in 2014 and has recorded strong segment revenue CAGR of 43% in the last five years.

    • Polycab is the market leader in the wire & cable business with organised market share of 23%. In the FMEG segment, it is growing through new product launches and dealer addition across India. The company has ~4100 dealers, serving.65 lakh retail outlets
    • Robust b/s with RoE, RoCE of 19%, 26%, respectively, (three-year average)
Q4FY22 Results

    Strong revenue growth; margin pressure continued.

    • Strong revenue growth of 35% YoY to ₹ 3970 crore led by ~40% growth in the wire & cable segment. FMEG grew albeit a slow pace of 9% YoY
    • EBITDA margin declined ~173 bps YoY to 12% due to higher raw material prices. Sequentially, margin improved 127 bps
    • PAT increased ~15% ₹ 325 crore; tracking strong topline growth

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Electrical Equipment/Products company Polycab India announced Q3FY24 & 9MFY24 results:

Financial Performance
- Total revenue for 9MFY24 reached Rs 1,24,475 million, marking a significant 27% growth compared to the same period last year.
- EBITDA for 9MFY24 rose to Rs 17,303 million, reflecting a noteworthy increase of 40% YoY.
- Profit After Tax (PAT) went up by 46% to Rs 12,494 million in the 9MFY24.
- Q3FY24 revenue stood at Rs 43,405 million, up by 17% YoY.
- Q3 EBITDA and PAT saw increments of 13% and 15%, respectively, with PAT amounting to Rs 4,165 million.

Business Segments
- Wires & Cables business observed an 18% YoY revenue growth in Q3 and 29% over 9MFY24, facilitated by strong volume growth.
- The FMEG sector experienced a decline of 15% in revenue during Q3 due to weaker consumer demand, with a slight 2% de-growth over 9 months.

Operational Highlights
- A unified Business Unit Head has been appointed to oversee the merger of the FMEG and Power businesses.
- International business contributed to 6.2% of the consolidated revenue for the quarter, with expectations of robust performance in the subsequent quarters.

Profitability and Cash Position
- Q3FY24 reported PAT margin of 9.6%.
- Net cash position saw improvement, reaching Rs 18.4 billion on December 31, 2023, from Rs 15.3 billion in the previous quarter.
- In 9MFY24, there was an improvement in margins by approximately 120 bps to 13.9%, and PAT margins enhanced by about 130 bps to 10%.

Commenting on the performance, Inder T. Jaisinghani, Chairman and Managing Director, Polycab India, said: "Our robust business momentum continued in the third quarter, leading to highest-ever quarterly revenues in the history of the Company. Nine-monthly revenues and profitability too created newer highs. This outstanding success is a testament to our resilient business model, characterized by robust operational efficiency, a diverse and innovative product portfolio, and the robustness of our extensive distribution network that effectively caters to diverse market segments. With a keen eye on emerging trends, Polycab aims to continue its upward trajectory, creating long-term value for our stakeholders."

 

 

 

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Polycab India Ltd shares SWOT Analysis

Strengths (8)

  • Strong Momentum: Price above short, medium and long term moving averages
  • Rising Net Cash Flow and Cash from Operating activity
  • Company with Low Debt

Weakness (1)

  • MFs decreased their shareholding last quarter

Opportunity (1)

  • RSI indicating price strength

Threats (4)

  • Promoter decreasing their shareholding
  • Red Flags: Firms linked to ongoing regulatory investigations/legal cases
  • High PE (PE > 40)

Resistance and support

R1 5,119.3
R2 5,173.7
R3 5,231.3
Pivot

5,061.67

S1 5,007.3
S2 4,949.7
S3 4,895.3
EMA SMA
4,866.6
4,805.6
4,813.1
4,594.4
4,870.9
4,632.8
4,938.4
4,793.7
Delivery and volume
CLIENT NAME DEAL TYPE ACTION DATE AVG. PRICE QUANTITY EXCHANGE
GRAVITON RESEARCH CAPITAL LLP Bulk Purchase 2024-01-11 3964.63 1209791 NSE
NK SECURITIES RESEARCH PRIVATE LIMITED Bulk Purchase 2024-01-11 3946.23 961087 NSE
GRAVITON RESEARCH CAPITAL LLP Bulk Sell 2024-01-11 3966.59 1211191 NSE
Name Category Shares
INDER T JAISINGHANI PROMOTER 12.57%
AJAY T JAISINGHANI PROMOTER 11.9%
RAMESH T JAISINGHANI PROMOTER 11.22%
GIRDHARI THAKURDAS JAISINGHANI PROMOTER 9.75%
KUNAL INDER JAISINGHANI PROMOTER 3.76%
BHARAT JAISINGHANI PROMOTER 3.64%
NIKHIL RAMESH JAISINGHANI PROMOTER 3.55%
GIRDHARI THAKURDAS JAISINGHANI/RAJU GIRDHARI JAISINGHANI (GIRDHARI JUHI TRUST) PROMOTER 1.33%
GIRDHARI THAKURDAS JAISINGHANI/RAJU GIRDHARI JAISINGHANI (GIRDHARI KARINA TRUST) PROMOTER 1.33%
GIRDHARI THAKURDAS JAISINGHANI/RAJU GIRDHARI JAISINGHANI (GIRDHARI RESHMA TRUST) PROMOTER 1.33%
AJAY T JAISINGHANI/AARTI AJAY JAISINGHANI (BHARAT JAISINGHANI FAMILY TRUST) PROMOTER 0.77%
RAMESH T JAISINGHANI/REINA R JAISINGHANI (NIKHIL JAISINGHANI FAMILY TRUST) PROMOTER 0.67%
RAMESH T JAISINGHANI/REINA R JAISINGHANI(DEEPIKA SEHGAL FAMILY TRUST) PROMOTER 0.67%
INDER THAKURDAS JAISINGHANI/MEENA INDER JAISINGHANI (INDER SHIKHA TRUST) PROMOTER 0.67%
INDER THAKURDAS JAISINGHANI/MEENA INDER JAISINGHANI (INDER KUNAL TRUST) PROMOTER 0.67%

OUR RESEARCH VIEW

Investment recommendation
An upbeat performance…
Call Date
23 Jan 2023
Entry Price 2,800.00
Target Price 3,380.00
Duration
12-18 Month

FINANCIALS

Sales
Operating Profit
Profit after Tax
Equity
Reserves and Surplus
Debt
Sales
Operating Profit
Profit after Tax
PE
Debt/Equity
P BV

Polycab India Ltd Stocks COMPARISON

Financials( in Cr) Polycab India Ltd KEI Industries Ltd R R Kabel Ltd Finolex Cables Ltd Sterlite Technologies Ltd
Price 5,065.00 3,459.80 1,538.95 1,001.00 110.80
% Change 0.53 -0.47 -0.39 2.72 0
Mcap Cr 76,059.59 31,221.58 17,362.28 15,309.19 4,421.49
Revenue TTM Cr 14,107.78 5,726.55 5,599.20 4,481.11 6,925.00
Net Profit TTM Cr 1,282.25 376.02 189.87 504.28 127.00
PE TTM 45.77 56.65 60.94 23.89 41.34
1 Year Return 82.25 106.51 28.45 25.88 -25.34
ROCE 28.06 23.74 15.70 15.61 10.96
ROE 21.06 19.24 14.22 12.16 6.32
INSIDER & INSTITUIONAL ACTIVITY

Equity Capital: 6,630.86 Cr FV: 10.00

Period MF Net Purchase / (sold) FII Net
LAST 1M 29,068.81 33,709.58
LAST 3M 68,518.10 30,558.15
LAST 6M 130,081.93 64,349.19
LAST 12M 189,941.35 208,211.24

Polycab India Ltd Information

Stock PE (TTM)
45.77
Promoter Holding
65.79%
Book Value
478.936
ROCE
28.06%
ROE
21.06%
Description
  • Polycab India Limited, established in 1996, is a manufacturer of FMEG (fast-moving electrical goods). It is a producer and marketer of LED lighting, switches, solar products, electric fans, etc., and sells its products under the brand name Polycab. The company, headquartered in Mumbai, also produces different types of electric cables, such as solar cables, building wires, power cables, control cables, etc.

    On 6 January 2023, the market capitalisation of the company was Rs 39,088.84 crore. It reported a total revenue of Rs 3,302.13 crore at the end of the second quarter of the financial year 2022-2023. The company is listed on the Bombay Stock Exchange with the code 542652 and on the National Stock Exchange under the code POLYCAB.   

    Polycab has a diversified shareholding pattern, with promoters holding approximately 67.99% of the company. The public has a stake of 17.3% in the company. FIIs hold a stake of 5.71% in the company, while DIIs hold a stake of 9.03%. The shareholding pattern of the company has remained largely stable over the past year.

    Inder T Jaisinghani is the current managing director of the company. Other directors of the company include Bharat A Jaisinghani, Nikhil R Jaisinghani, Rakesh Talati, Pradeep Poddar, R S Sharma, Sutapa Banerjee, and T P Ostwal. The chief financial officer of Polycabs is Gandharv Tongia. The company’s auditors are B S R & Co. LLP.  

    On 6 January 2023, Polycab’s share price was Rs 2612.00 on the BSE and Rs 2613 on the NSE. The company’s 52-week-high was Rs 3,025.00, while the 52-week-low was Rs 2,043.85. Its three-month return to investors was -3.3%, while its one-year return was 7.3%.

    In the second quarter of FY 2022-2023, the company saw an 11% rise in revenue compared to the same period last year. Its PAT grew by 37%, and the net cash position also significantly improved from Rs 870 crore to Rs 1670 crore. 

    Disclaimer: ICICI Securities Ltd. (I-Sec). Registered office of I-Sec is at ICICI Securities Ltd. - ICICI Venture House, Appasaheb Marathe Marg, Prabhadevi, Mumbai - 400 025, India, Tel No : 022 - 6807 7100. I-Sec is a Member of National Stock Exchange of India Ltd (Member Code: 07730), BSE Ltd (Member Code: 103) and Member of Multi Commodity Exchange of India Ltd.(Member Code: 56250) and having SEBI registration no. INZ000183631. Name of the Compliance officer (broking): Ms. Mamta Shetty, Contact number: 022-40701022, E-mail address: complianceofficer@icicisecurities.com. Investments in securities market are subject to market risks, read all the related documents carefully before investing. The contents herein above shall not be considered as an invitation or persuasion to trade or invest. I-Sec and affiliates accept no liabilities for any loss or damage of any kind arising out of any actions taken in reliance thereon. Such representations are not indicative of future results. The securities quoted are exemplary and are not recommendatory. Investors should consult their financial advisers if in doubt about whether the product is suitable for them. The contents herein above are solely for informational purpose and may not be used or considered as an offer document or solicitation of offer to buy or sell or subscribe for securities or other financial instruments or any other product. Investors should consult their financial advisers whether the product is suitable for them before taking any decision. The contents herein mentioned are solely for informational and educational purpose.

Registered Address

Unit 4 Plot No 105 Nurpura, Halol Vadodar Road Tal Halol, panchmahal, Gujarat, 389350

Email : investor.relations:polycab.com
Website : http://www.polycab.com
Registrar

KFin Techologies Ltd

AGM Date (Month) : Jun
Face Value Equity Shares : 10
Market Lot Equity Shares : 1
BSE Code : 542652
NSE Code : POLYCAB
Book Closure Date (Month) : Jun
BSE Group : A
ISIN : INE455K01017

FAQ’s on Polycab India Ltd Shares

You can buy Polycab India Ltd shares through a brokerage firm. ICICIdirect is a registered broker through which you can place orders to buy Polycab India Ltd Share.

Company share prices and volatile and keep changing according to the market conditions. As of Mar 28, 2024 03:59 PM the closing price of Polycab India Ltd was ₹ 5,065.00.

Market capitalization or market cap is determined by multiplying the current market price of a company’s shares with the total number of shares outstanding. As of Mar 28, 2024 03:59 PM, the market cap of Polycab India Ltd stood at ₹ 76,059.59.

The latest PE ratio of Polycab India Ltd as of Mar 28, 2024 03:59 PM is 45.77

The latest PB ratio of Polycab India Ltd as of Mar 28, 2024 03:59 PM is 0.09

The 52-week high of Polycab India Ltd share price is ₹ 5,733.00 while the 52-week low is ₹ 2,783.45

According to analyst recommendations, Polycab India Ltd Share has a “Buy” rating for the long term.

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