# HSBC said its execution-driven market share gains in wires and cables and the FMEG margin expansion is set to drive an estimated 20% earnings per share (EPS) compound annual growth rate (CAGR) for Polycab over financial year 2026-2029.

*business · news · 2026-05-07 · CNBC TV18*

## Key points

- HSBC raised Polycab's price target to ₹9,500 per share, up from ₹8,500 previously.
- Polycab's market share in the organised wires and cables sector rose to around 30%-31% in FY26.
- FMEG's solar business grew 2x, becoming the segment's largest contributor for Polycab.
- Working capital days improved to 24 in FY25, expected to normalize to 45-50 days.

**Companies:** HSBC, Polycab (India) Ltd.
**Countries:** India, United Kingdom

[Read the full story on CNBC TV18](https://www.cnbctv18.com/market/polycab-share-price-hsbc-target-raised-buy-sell-upside-triggers-q4-results-ws-l-19900691.htm)

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