Polycab India is likely to remain in focus after global brokerage Citi reiterated its “buy” rating on the stock, maintaining an unchanged target price of Rs 10,500, implying nearly 10 per cent upside from current levels. The brokerage’s optimism is driven by an improving domestic demand outlook, with management indicating a rebound in secondary sales after a weak March quarter impacted by geopolitical tensions in West Asia.
The EBITDA margin came in at 13.1 per cent, down from 14.7 per cent a year ago, indicating an unfavorable business mix and cost pressures. Alongside the results, the company recommended a dividend of Rs 47 per share. Polycab also announced an extension of CFO Niyant Maru’s tenure from July 17, 2026, to April 16, 2027, ensuring continuity in its financial leadership.
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