Polycab is engaged in the business of manufacturing and selling wires and cables and fast moving electrical goods (FMEG).

• Revenue grew 24% YoY at Rs.25bn in Q3 as cables sales was boosted by exports and optical fibre sales.

• FMEG business continued to break-even but margins declined sequentially.

• Cash flow from operating activities grew to Rs.5.4bn in 9MFY20.

• Polycab remains our top pick in India consumer electrical/durables. We revise our target price to Rs1246 (from Rs1150) as we increase our target P/E multiple to 23x.

Disclaimer: The above report is compiled from information available on public platforms. inChat team advises users to check with certified experts before taking any investment decisions.

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