Geojit upgrades Polycab India to Buy and lifts target to Rs 8,934
Polycab India revenue rose 52.8% year on year in the second quarter. Broker Geojit raised its rating on the stock and its target price. Source: TradingView.
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what happened
According to TradingView, brokerage Geojit Financial Services upgraded its rating on Indian cable maker Polycab India to Buy and set a target price of Rs 8,934. The change follows a report on the second quarter of fiscal 2027.
Consolidated revenue grew 52.8% year on year to Rs 9,899 crore. Wires and cables sales rose 47.2%, with domestic volumes up almost 50%. The EPC segment, covering engineering and construction, added 53.4%. EBITDA climbed 39.4% to Rs 1,422 crore, but the EBITDA margin fell 140 basis points to 14.4%, as raw material costs jumped 55.6%.
Net profit rose 42.9% to Rs 990 crore. The analysts credit further growth to a wider product range, premium offerings and expansion into international markets. The target price is based on a FY28 price-to-earnings multiple of 34.
why it matters
For the market, this is a single brokerage's view on a mid-sized electrical equipment company in India. The key question for investors is whether the company can keep revenue growing while raw material costs pressure its margins.
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sources
- Buy Polycab India; target of Rs 8934: Geojit Financial Services — TradingView, 29 October 2026 at 06:52 UTC
prepared by the newsmetry newsroom with ai assistance from the sources listed below. not investment advice.
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