Buy Poly Medicure; target of Rs 2900: LKP Research

LKP Research is bullish on Poly Medicure has recommended buy rating on the stock with a target price of Rs 2900 in its research report dated March 12, 2025.

Broker Research

March 12, 2025 / 11:53 IST

Buy

26 Aug, 2025 12:21

Volume

Todays L/H

LKP Research's research report on Poly Medicure

Poly Medicure Limited (PML) is a key player in the medical device industry with a strong foothold in highly regulated export markets. While traditionally focused on consumables and disposables, the company is now transitioning towards high-entry barrier medical devices, presenting significant growth potential. PML has not only navigated the complexities of a highly regulated market but has excelled in it, leveraging its manufacturing expertise and stringent compliance standards. Given the challenges in replicating such manufacturing capabilities—long lead times, regulatory approvals, and high capital intensity—PML’s business remains resilient with a high degree of recurring revenues, making it wellpositioned for sustained long-term growth.

Outlook

We estimate PML’s Revenue/EBITDA/ PAT to clock 22%/29%/32% CAGR over FY24-27E and initiate coverage on PML with a BUY rating and a TP of ₹2,900.

For all recommendations report, click here