Poly Medicure may touch Rs 500: SP Tulsian

SP Tulsian of sptulsian.com told CNBC-TV18, "Poly Medicure is making the medical products for about practically for all segments. For infusion, anaesthesia, dialysis, surgery, urology, paediatrics, for maybe blood management, for any part. They make over 100 products. If you see they have four plants. I don’t think that there is any kind of USFDA approval is required but one plant at Chandigarh has been USFDA inspected.""They have four plants in India and one plant in China. The China plant is meeting with the Korean good manufacturing practices (GMP). It is a Korea GMP compliant plant. The aggregate capacity is up to 4 lakh sq ft and they are also holding 23 percent stake in the Egyptian plant of the same product," he added."On the financial front, for first half they had a topline of Rs 200 crore, operating profit of Rs 30 crore, PAT of Rs 22 crore resulting into an EPS of Rs 5. If you see the board and all that, there it is a techcrat board, the chairman of the company is Ex SEBI Chief, DR Mehta.""So coming on the corporate governances and all sort of things, you have a lot of confidence but I am very enthused on the products, which they are making. They are supplying right now to over 2,000 hospitals and they have 950 dealers. If we see the hospital additions are happening but there are no product companies, which are expanding in a big way except for the MNCs, which they have their presence. So I see a lot of potential.""If you see the shareholding pattern again, equity is Rs 22 crore with a face value of Rs 5, promoters are holding about 50 percent stake and seven HNIs are holding 40 percent stake. So there is a very low float of just about 10 percent. Share is now ruling close to about Rs 400 and I am expecting a price of Rs 500 in next six months or so," he said.