Buy Polycab India, target price Rs 8200: Motilal Oswal

Motilal Oswal has buy call on Polycab India with a target price of Rs 8200. The current market price of Polycab India Ltd. is Rs 6261.5.

Polycab India Ltd., incorporated in the year 1996, is a Mid Cap company (having a market cap of Rs 95469.26 Crore) operating in Consumer Durables sector.



Financials
For the quarter ended 30-06-2024, the company reported a Consolidated Total Income of Rs 4756.44 Crore, down -15.75 % from last quarter Total Income of Rs 5645.73 Crore and up 20.31 % from last year same quarter Total Income of Rs 3953.38 Crore. Company reported net profit after tax of Rs 401.62 Crore in latest quarter.


Promoter/FII Holdings
Promoters held 65.02 per cent stake in the company as of 30-Jun-2024, while FIIs owned 13.62 per cent, DIIs 6.93 per cent.