It has already established subsidiaries in the US and Australia for trading wires and cables
Valuation discount to peers and recovery in certain pockets bode well
While near-term prospects hinge on unlocking of economy, the stock remains a good valuation play, say analysts
In the past seven trading days, the stock has fallen 9 per cent, thus underperforming the S&P BSE Sensex which rose 3.3 per cent
Firm trading at 19x its FY21 earnings, with peers trading at 35-45x
Total income in the latest quarter stood at Rs 2,507.6 crore against Rs 2,048.6 crore in the same period last year
In the last three months, the stock of the fast-moving electric goods (FMEG) company has rallied 58 per cent after its net profit more-than-doubled to Rs 194 crore in the September quarter (Q2FY20)
Of the 13 companies that got listed in 2019, eight have outrun the IPO index by gaining over 38 per cent against their respective issue price
In the past two months, the stock has rallied 57 per cent after its net profit more-than-doubled to Rs 194 crore in the September quarter (Q2FY20) on the back of strong revenue growth.
Prestige Estates Projects were up for the fifth straight trading day, up 7 per cent at Rs 345, while Polycab India hit a new high of Rs 967, up 3 per cent on the BSE.
In Q2FY20, Polycab's net profit more-than-doubled to Rs 194 crore, on the back of strong revenue growth
The company's net profit more-than-doubled to Rs 194 crore in September quarter (Q2FY20), on the back of strong revenue growth.
The company reported net profit of Rs 194 crore in Q2FY20 against Rs 90 crore in a year ago quarter.
Polycab India is scheduled to announce July-September quarter (Q2FY20) results on October 23, 2019.
This was the best listing-day performance for a company since HDFC Asset Management Company's stock market debut in August 2018
Some of Polycab's listed peers include Havells India, Bajaj Electricals and V-Guard