Buy Polycab India, target price Rs 2800: ICICI Direct

ICICI Direct has buy call on Polycab India with a target price of Rs 2800. The current market price of Polycab India Ltd. is Rs 2427.55. Time period given by analyst is one year when Polycab India Ltd. price can reach defined target.

Polycab India Ltd., incorporated in the year 1996, is a Mid Cap company (having a market cap of Rs 36159.99 Crore) operating in Consumer Durables sector.

Polycab India Ltd. key Products/Revenue Segments include Cables & Wires, Income from Eng.Construction Contracts, Scrap, Grants, Export Incentives and Job Work for the year ending 31-Mar-2021.


Financials
For the quarter ended 31-12-2021, the company reported a Consolidated Total Income of Rs 3393.64 Crore, up 7.56 % from last quarter Total Income of Rs 3155.23 Crore and up 19.78 % from last year same quarter Total Income of Rs 2833.30 Crore. Company reported net profit after tax of Rs 315.89 Crore in latest quarter.

Promoter/FII Holdings
Promoters held 68.15 per cent stake in the company as of 31-Dec-2021, while FIIs owned 6.43 per cent, DIIs 8.66 per cent.