homehealthcare NewsPoly Medicure targets 20 22% revenue growth in FY25 with contributions from new segments
Poly Medicure targets 20-22% revenue growth in FY25 with contributions from new segments
The company's Managing Director Himanshu Baid said critical care and cardiology segments are likely to start contributing to the revenue and margins starting FY25.
Delhi-based medical devices maker Poly Medicure expects revenue growth of around 20-22% in FY25 with contributions from two new segments -- critical care and cardiology. Margin growth is expected to be around 25-27%.
Himanshu Baid, Managing Director of Poly Medicure said the recent investments in expanding manufacturing infrastructure will help keep up the momentum in revenue and margin growth over the next couple of years.
Baid said the market size in India for interventional cardiology products and critical care products which the company will soon launch, is around ₹1,000 crore each. But the bigger opportunity for the company is in the export market. Currently, around 70% of the company's revenues are from exports.
The company expects to receive regulatory approvals for these devices for the European and other regulated markets in the next two years, but the exports to Southeast Asian markets to begin sooner, likely by end FY25.
Baid highlighted that these products are essential in intensive care units (ICUs), and there has been a noticeable increase in the percentage of ICUs, especially after the impact of COVID-19. Many hospitals, which were previously operating with around 10% ICU beds, now have an increased capacity ranging between 15-20%.
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Poly Medicure shares are among the big winners of 2023 surging a solid 60%. The company a market capitalisation of ₹13,838.05 crore.
For the entire interview, watch the accompanying video
(Edited by : Shweta Mungre)
First Published: Dec 26, 2023 6:50 PM IST
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