Poly Medicure Ltd
NSE:POLYMED
Poly Medicure Ltd
Poly Medicure Ltd., an Indian manufacturer of medical devices, is a compelling narrative of innovation driving tangible impact in healthcare. It embarked on its journey in the late 1990s, seizing on the escalating demand for high-quality medical consumables. The company carved its niche by producing a wide array of disposable medical devices like catheters, infusion therapy systems, and wound closure products, essential in medical facilities worldwide. By establishing a robust manufacturing infrastructure and leveraging economies of scale, Poly Medicure ensures competitive pricing while adhering to global quality standards. A dedication to research and development undergirds their operation, constantly pushing the envelope of modern medical technology.
Revenue streams flow primarily from the sale of these innovative products to hospitals, healthcare institutions, and distributors across more than 100 countries. The company's strategic positioning in the industry is further reinforced by its commitment to sustainability and stringent adherence to regulatory compliance, which helps in sustaining long-term contracts and partnerships. The expansion of its product range and the adoption of automated manufacturing processes don't just meet but often forecast sector demands. By keeping its pulse on global health trends, Poly Medicure ensures not only stable growth in its financial graphs but also cements its authority as a cornerstone entity in the medical supplies marketplace.
Poly Medicure Ltd., an Indian manufacturer of medical devices, is a compelling narrative of innovation driving tangible impact in healthcare. It embarked on its journey in the late 1990s, seizing on the escalating demand for high-quality medical consumables. The company carved its niche by producing a wide array of disposable medical devices like catheters, infusion therapy systems, and wound closure products, essential in medical facilities worldwide. By establishing a robust manufacturing infrastructure and leveraging economies of scale, Poly Medicure ensures competitive pricing while adhering to global quality standards. A dedication to research and development undergirds their operation, constantly pushing the envelope of modern medical technology.
Revenue streams flow primarily from the sale of these innovative products to hospitals, healthcare institutions, and distributors across more than 100 countries. The company's strategic positioning in the industry is further reinforced by its commitment to sustainability and stringent adherence to regulatory compliance, which helps in sustaining long-term contracts and partnerships. The expansion of its product range and the adoption of automated manufacturing processes don't just meet but often forecast sector demands. By keeping its pulse on global health trends, Poly Medicure ensures not only stable growth in its financial graphs but also cements its authority as a cornerstone entity in the medical supplies marketplace.
Strong Revenue Growth: Consolidated Q3 revenue rose 16.4% year-on-year to INR 494 crores, and 11.2% sequentially, driven mainly by acquisitions.
Margin Expansion: Gross margin in Q3 improved by nearly 300 basis points to 68.4%. Operating EBITDA margin was 24.2%.
Acquisition Impact: Recent acquisitions (PendraCare and Citieffe) contributed INR 48–49 crores to Q3 revenue, with full-year impact expected in FY '27.
Domestic Strength: Domestic business grew 16.2% YoY in Q3, with private market sales up 22.5%. The company continues to shift away from lower-margin government sales.
International Headwinds: International revenue grew 16.6% YoY, but organic growth is flattish due to Chinese dumping and regulatory delays.
Product Innovation: Regulatory approval received for next-gen cardiovascular products (IVL, DEB) in India, with commercialization set to begin soon.
Optimistic Outlook: Management reaffirmed 20% revenue growth expectation from H1 to H2 and aims for 20% overall growth in FY '27.
Margin Guidance: Stand-alone EBITDA margin expected to remain around 26–27% for the year, with consolidation lowering overall margin due to acquisitions.
