PolyMedicure Expects New Segments to Contribute to its 20–22% Revenue Growth Target for FY25

Revenue Growth

Delhi-based medical devices manufacturer Poly Medicure anticipates revenue growth of approximately 20-22% in the fiscal year 2025, driven by contributions from two new segments: critical care and cardiology. The company expects margin growth to be in the range of 25-27%. Recent investments in expanding manufacturing infrastructure are seen as instrumental in sustaining momentum in revenue and margin growth over the next couple of years.

Himanshu Baid, Managing Director of Poly Medicure, noted that the market size in India for interventional cardiology products and critical care products, which the company plans to launch soon, is around ₹1,000 crore each. However, the significant opportunity lies in the export market, with approximately 70% of the company’s revenues currently coming from exports.

Poly Medicure aims to obtain regulatory approvals for these devices in European and other regulated markets within the next two years. Exporting to Southeast Asian markets is expected to commence earlier, likely by the end of FY25. Baid emphasized the essential role of these products in intensive care units (ICUs), noting a noticeable increase in the percentage of ICUs, particularly after the impact of COVID-19. Many hospitals, previously operating with around 10% ICU beds, have expanded capacity to 15-20%.

Poly Medicure shares have experienced significant growth in 2023, surging by a robust 60%, and the company currently boasts a market capitalization of ₹13,838.05 crore. The strategic expansion into critical care and cardiology segments, coupled with a focus on exports, positions Poly Medicure for continued success in the evolving healthcare landscape.

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