Polycab impresses in FY23, but may need extra spark going ahead
SummaryDespite the positive results, the Polycab India’s earnings growth could be tempered in FY24 due to higher advertising and promotion expenses
Polycab India Ltd’s shares touched a new 52-week high of ₹3,415 apiece on Tuesday on the National Stock Exchange. The company ended financial year 2023 on a strong note with net profit rising by nearly 52% year-on-year. The March quarter (Q4FY23) results surpassed expectations on the back of healthy performance in the cables & wires segment.