Poly Medicure shares up nearly 10% on new verticals and capacity expansion

Poly Medicure had on February 3 posted a standalone quarterly net profit of Rs 85.15 crore, up 38.55% on year, with a revenue of Rs 410.94 crore that grew by 28% on year.

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26 Aug, 2025 12:21

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Shares of medical devices company Poly Medicure are finding strong buying interest, rising over 10% in trade after healthy third quarter results and a confident growth guidance.

The company has projected an over 20% revenue growth for the next 2-3 years, the management has said. Poly Medicure also guided for the margin to improve by 100-120 bps on a full year basis.

Poly Medicure had on February 3 posted a standalone quarterly net profit of Rs 85.15 crore, up 38.55% on year, with a revenue of Rs 410.94 crore that grew by 28% on year. EBITDA came in at Rs 137.35 crore, higher by 36% on year.

The company had raised funds through a QIP in August 2024, which it had said were intended for acquisition opportunities. The management has been on the lookout for an inorganic growth opportunity worth around Rs 500 crore.

Despite a strong export pipeline, India remains an important market for Poly Medicure, and the domestic business is seen growing at over 20% for the fiscal. The company also plans to commercialize its latest Drug Eluting Stent as early as this week, after having received the regulatory approval during the December quarter.

The management has also signed a JV for a 9.9 MW solar power plant in Haryana, which will be operationalized by September 2025, and is in line with the target of lower carbon footprint. The European market is showing the promise of a healthy close to 28% growth for the fiscal, Poly Medicure said.

The company clarified that any fresh US tariff imposed on its exports will not dent the business as it will be equally applicable on other global suppliers as well. The US exports by the company are currently 'very small', the management added.

The management is setting up a new plant at Palwal which will be its largest. The company said capex worth Rs 222 crore so far this year has been funded through internal accruals, to set up manufacturing facilities.

Poly Medicure also said it has launched two new categories of businesses, namely – Critical Care and Oncology, which it says will help expand its global footprint.