Buy Polycab India, target price Rs 7850: Motilal Oswal

Motilal Oswal has buy call on Polycab India with a target price of Rs 7850. The current market price of Polycab India Ltd. is Rs 6675.35.

Polycab India Ltd., incorporated in the year 1996, is a Mid Cap company (having a market cap of Rs 100420.26 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-2023.



Financials
For the quarter ended 31-03-2024, the company reported a Consolidated Total Income of Rs 5645.73 Crore, up 27.98 % from last quarter Total Income of Rs 4411.46 Crore and up 29.04 % from last year same quarter Total Income of Rs 4375.20 Crore. Company reported net profit after tax of Rs 553.48 Crore in latest quarter.



Promoter/FII Holdings
Promoters held 65.24 per cent stake in the company as of 31-Mar-2024, while FIIs owned 11.96 per cent, DIIs 7.23 per cent.