Buy Poly Medicure; target of Rs 620: Dolat Capital Market

Trade

• Watchlist
• Portfolio
• Message
• Set Alert

 

 

live

• bselive
• nselive

Volume

Todays L/H

More

×

Dolat Capital Market's research report on Poly Medicure

Polymed’s Q3 results were exactly in line with estimates. Sales grew 13% YoY, EBITDA margins at 28.4% were steady on the back of cost efficiency measures. Reported PAT at Rs353mn was up 41% YoY. On the 9MFY21, company reported 11% growth in sales while the PAT growth has been stellar at 32% YoY. This is driven by sharp improvement in product mix led by new launches coupled with prudent fiscal measures. We believe introduction of products such as sterilized VTM Testing Kits, Personal Protection Kits and Face Protective Shield have also aided growth. The Company garners ~70% of its revenue from exports and 30% from domestic markets; Europe contributes 40% of the total export business.

Outlook

Its flagship product IV Cannula contributes ~28-30% of total sales. Apart from IV Cannula, we expect its new launches of pre-filled syringes, catheters, and dialyzers to contribute meaningfully over the next 2-3 years.

For all recommendations report, click here

Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

Read More