Get App
Download App Scanner
Scan to Download
Advertisement

Polycab Gets Double Boost After Q1: PL Capital Upgrades Rating, Target Price — Here's Why

The upgrade was driven by the recent correction in the stock price and an upward revision in earnings estimates, while maintaining a positive view on Polycab's medium-term growth prospects, adds the brokerage.

Polycab Gets Double Boost After Q1: PL Capital Upgrades Rating, Target Price — Here's Why
Polycab India shares could remain in focus after PL Capital upgraded the stock to 'Buy'.
(Photo: NDTV Profit/ AI generated image)
STOCKS IN THIS STORY
Polycab India Ltd.
--

NDTV Profit's special research section collates quality and in-depth equity and economy research reports from across India's top brokerages, asset managers and research agencies. These reports offer NDTV Profit's subscribers an opportunity to expand their understanding of companies, sectors and the economy.

PL Capital Report

Polycab India Ltd.'s shares could remain in focus after PL Capital upgraded the stock to 'Buy' from 'Accumulate' and raised its target price to Rs 10,764 from Rs 10,503 following a strong Q1 FY27 performance and improved earnings outlook. [ 

The brokerage said the upgrade was driven by the recent correction in the stock price and an upward revision in earnings estimates, while maintaining a positive view on the company's medium-term growth prospects.

Polycab Q1 FY27 financial performance:

Sales grew 39.0% YoY to Rs 8,210 crore (brokerage estimate: Rs 7,840 crore). Wiers and cables business grew 39.4% YoY to Rs 7,160 crore.

International business declined 12.7% YoY. Gross margins contracted 300 bps YoY to 23.8% (brokerage estimate: 25.6%). Ebitda grew 32.5% YoY to Rs 1,140 crore (brokerage estimate: Rs 1,070 crore).

Ebitda margin contracted 70 bps YoY to 13.8% (brokerage estimate:: 13.7%). PAT grew 32.5% YoY to Rs 780 crore (brokerage estimate:: Rs 710 crore). 

The W&C segment's Ebit rose 26.4% YoY to Rs 950 crore, while margins contracted 140 bps YoY to 13.3%. FMEG revenue surged 70.7% YoY to Rs 760 crore and reported Ebit of Rs 60.6 crore, compared with Rs 9.6 crore in Q1 FY26.

EPC revenue declined 11.4% YoY to ₹310 crore, while Ebit increased 26.4% YoY to Rs 33.8 crore and Ebit margin expanded 330 bps YoY to 11.0%.

Click on the attachment to read the full report:

Pl Capital Polycab Q1 Review.pdf
VIEW DOCUMENT

ALSO READ: 35% Upside Ahead For ITC Hotels? ICICI Securities Turns Bullish After Q1 Results — Check Hiked Target Price

DISCLAIMER

This report is authored by an external party. NDTV Profit does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of NDTV Profit.

Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.

To continue reading this story
You must be an existing Premium User

Newsletters

Update Email
to get newsletters straight to your inbox
⚠️ Add your Email ID to receive Newsletters
Note: You will be signed up automatically after adding email

News for You

Set as Trusted Source
on Google Search
Add NDTV Profit As Google Preferred Source
Loading PDF...
Listen to the latest songs, only on JioSaavn.com