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Polycab India posted a 58.8% rise in its second-quarter profit on Wednesday, aided by healthy sales in its wires and cables business.

Consolidated net profit climbed to 4.26 billion rupees ($51.19 million) in the three months ended September 30 from 2.68 billion rupees a year earlier.

For further results highlights, click: (Full Story)

KEY CONTEXT

Analysts expect cables and wires companies to report a strong quarter as demand from the housing and infrastructure sector, as well as recovery in exports help volume growth.

Polycab, India's second largest cables maker by market capitalisation, has reported double-digit increases in earnings over the previous four quarters.

Rival Havells India is scheduled to report its second-quarter results on Thursday.

PEER COMPARISON

Valuation (next 12 Estimates (next 12 Analysts' sentiment

months) months)

RIC PE EV/EBIT Revenue Profit Mean # of Stock to Div

DA growth growth rating* analysts price yield

target** (%)

Polycab India Ltd 45.74 31.36 18.76 22.90 Buy 24 1.17 0.37

Finolex Cables Ltd 22.13 17.09 17.71 23.28 Buy 4 0.79 0.73

Havells India Ltd 53.07 36.33 14.94 27.45 Buy 20 0.96 0.53

KEI Industries Ltd 36.06 24.17 17.85 24.36 Buy 13 1.05 0.11

* The mean of analyst ratings standardised to a scale of Strong Buy, Buy, Hold, Sell, and Strong Sell

** The ratio of stock's last close to analysts' mean price target; a ratio above 1 means the stock is trading above the PT

JULY-SEPTEMBER STOCK PERFORMANCE

-- All data from LSEG

-- $1 = 83.2270 Indian rupees