Wires & Cables Stocks Have Witnessed a Sharp Correction! Polycab & KEI have reported their Q2FY27 results Polycab: - REV grew 53% YoY, while EBITDA increased 39% & PAT grew 43% - Underlying volume growth remained in the mid to high single digits KEI Industries: - REV grew ~39% YoY, while EBITDA growth was at 29% - Management expects over 10% volume growth for FY27 - Margin to be around 11% vs earlier band of 11-12% Higher commodity realisations are significantly boosting reported REV across the industry Outlook: - Polycab expects to grow at 1.5x the industry growth rate over the long term

BETA DRUGS No material impact from the recent NPPA notification. Very good Q2FY27 numbers with around 50% ebitda converted to ocf. FY27 goal to end at 535 cr topline with 23-24% EBITDA margins. No buy/sell recommendation. ❤1

India’s Next Bull Market May Be Built in Factories, Not Trading Screens! 🇮🇳 Everyone is chasing AI stocks. But look at India's upcoming investment pipeline: 🔹 ₹5.27 lakh crore - Semiconductors 🔹 ₹5.07 lakh crore - Defence 🔹 Up to $200 billion - Data centres 🔹 Over $70 billion - AI Impressive numbers. But as an investor, I look at three things: 1. Capital Committed - What's announced. 2. Capital Deployed - What actually gets spent. 3. Shareholder Returns - What generates profits, free cash flow and ROCE. The market celebrates the first, anticipates the second and often forgets the third. ❤