homevideos Newshealthcare NewsRussia Ukraine impact: Exposure to Russia, Ukraine only 1.5% of overall biz, says Poly Medicure
Russia-Ukraine impact: Exposure to Russia, Ukraine only 1.5% of overall biz, says Poly Medicure
Poly Medicure’s exposure to Russia and Ukraine is just 1.5 percent of the overall business, Himanshu Baid, managing director, told CNBC-TV18.
Poly Medicure’s exposure to Russia and Ukraine is just 1.5 percent of the overall business, Himanshu Baid, managing director, told CNBC-TV18.
He said, “Our exposure is just 1.5-2 percent of total revenue on Russia and Ukraine. So, I do not see much impact on the business and I think healthcare would be exempted from exports in those markets.”
However, said Baid, the company saw some margin erosion due to raw material inflation, but rupee depreciation will limit the margin erosion.
On expansion, he said that two new plants will start operations from Q3 of FY23 onwards and the company will be investing Rs 150-200 crore in the expansion of those plants.
He further said that the company will increase research and development (R&D) spending to 4 percent from 2.5 percent of sales.
For the entire interview, watch the accompanying video.
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