Wires and cables biz to do the heavy lifting for Polycab India
SummaryShares of Polycab have risen by 10% in the last two days with the stock scaling a new 52-week high of ₹4,325.15 apiece on Wednesday. Along with a solid Q1, the management commentary was also encouraging.
Consolidated revenue climbed 42% year-on-year thanks to its robust wires and cables business. This segment clocked 50-60% volume growth in Q1, translating into a 47% rise in revenue to ₹3,534 crore. Although a low base has helped to some extent, the performance bodes well for the company’s overall growth outlook.