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Pexels Polycab India, a leading manufacturer of wires and cables, on Thursday reported a 32 per cent growth in net profit at Rs 283.2 crore in the March quarter on higher revenue. Consolidated revenue grew faster at 43 per cent to Rs 3,037.4 crore during the period, the city-headquartered company said in a statement. For the full-year, it reported a net profit of Rs 885.9 crore, up 16 per cent over FY20 on a revenue of Rs 8,926.5 crore, which inched up 1 per cent from the previous year. The fiscal year gone by was an extraordinary year marked by disruptions but we could ensure uninterrupted operations through agility and technology which helped us leverage the favourable market trends and report robust business performance in the fourth quarter, Inder T Jaisinghani, chairman and managing director of Polycab India, said. ....
Polycab To Launch IoT-based FMEG Products Under New Brand HOHM moneycontrol.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from moneycontrol.com Daily Mail and Mail on Sunday newspapers.
Shares of consumer durables companies, including electronics products and household appliances, were on a roll at the bourses on Thursday after Havells India reported a strong set of numbers for the quarter ended December 2020 (Q3FY21) on the back of strong festive demand, market share gains and increased penetration in smaller towns. Havells India, Polycab India, V-Guard Industries, Orient Electric, Voltas, Crompton Greaves Consumer Electricals and Whirlpool of India were up between 5 per cent and 10 per cent on the BSE on Thursday. Out of the top 10 gainers from the S&P BSE500 index, six stocks are from these sectors on the BSE, at 10:31 am. ....
Image credit: Polycab via Facebook Synopsis Polycab India managed to beat analysts’ expectations in the September quarter. While analysts felt that the stock had peaked, with some brokerages recommending a ‘sell’, it kept rising. But low operating margins and demand headwinds call for caution. Is the rise due to the present liquidity-driven rally in the market, or should investors sell the stock as valuations are high? In October 2020, brokerage firms got worked up about the valuations of fast-moving electronics goods (FMEG) companies. The segment was hit by the pandemic due to tepid real-estate sales. Shares of even the larger players were trading at price-to-earnings (P/E) multiples of 50x-100x. In a market dominated by large consumer brands like Crompton Greaves and Havells India, questions were raised about the recovery of smaller players. Polycab India, a ....