Poly Medicure Ltd

About the Company:

Poly Medicure is Headquarterd in New Delhi, is a company with diversified product portfolio with over 100 varieties of disposable medical devices in various product verticals.

Company manufactures more than 100 products using state of the art technology in ultra modern facilities.

The company, which markets its range of products under ‘Polymed’ brand has six manufacturing facilities of which four are in India — one each at Jaipur and Haridwar and two in Faridabad, Haryana & one in China and the other in Egypt.

The company’s products are present in over 3000 key hospitals and has expanded its Distributor & Dealer network in every State.

Company exports its products to more than 95 countries.

Exports contribute approximately 70% of the total revenues.

Company is one of the highest exporter of plastic medical disposables/ surgical devices from india.

Company had invested approximately Rs.60 crore in the green field project at IMT Faridabad in Haryana, which is scheduled to be commissioned in August 2017.

Subsidiaries and Associate:

1. Poly Medicure (Laiyang) Co. Ltd, China (100% stake)
2. Ultra for Medical Products, Egypt (23% stake)

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Positives for the Company:

• Company’s upcoming plant in Haryana will manufacture Nephrology Dialysis care products, which are right now 100% import dependent.
• Company expects the new plant to contribute around Rs 150 crore in three years of production.
• Company will also be venturing into oncology products in FY 18.
• Increasing focus on critical care products will improve the profit margins.
• Management expects 15 to 20% growth in FY18.
• Company gets 50% of its export revenues from Europe.(getting good orders from Europe)
• Company is focussing on domestic market and increase reach to 5000 (From 3000) Hospitals in next 2 years.
• We had recommended the Stock when it was around Rs.212 and Market cap was around Rs.1850 crores.

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