Deep-dive
SubscribersInitiating coverage on the W&C super-cycle's cleanest beneficiary
We initiate on Polycab India with a Buy and a multi-year holding horizon. Polycab is the cleanest play on India's wires & cables capex super-cycle — unmatched distribution, a credible B2C extension, and a balance sheet that compounds without dilution.
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The full note — the argument, the numbers, where we could be wrong — continues for subscribers. ₹10,000 a quarter, or a year for the price of three quarters.
Front Wave Research LLP · SEBI Registered Research Analyst · INH000018407. This note is research, not investment advice. Investments in securities markets are subject to market risks. Read all related documents carefully before investing.
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