Poly Medicure Limited is an India-based manufacturer and exporter of medical devices. The Company exports plastic medical disposables/surgical devices. Poly Medicure Limited was incorporated on March 30, 1995. The company has established itself as a significant player in the medical device industry with a comprehensive product portfolio and global reach.
The company is a medical devices company with a product portfolio comprised of 200+ SKUs of medical devices across 12 specialties including therapy, oncology, anesthesia and respiratory care, urology, gastroenterology, blood management and blood collection, surgery and wound drainage, dialysis, central venous access catheters, veterinary medical devices, and others. It supplies its products to approximately 120 countries, in Europe, Africa, Americas, Australia, and Asia.
The company commands a market capitalization of ₹22,717 Crore as of recent data. Promoter holding in Poly Medicure Ltd has gone down to 62.43% as of March 2025 from 62.55% as of August 2024.
The company has demonstrated robust financial performance with consistent growth. The revenues of POLY MEDICURE stood at ₹14,345 million in FY24, which was up 24.6% compared to ₹11,514 million reported in FY23. The net profit of POLY MEDICURE stood at ₹2,583 million in FY24, which was up 44.1% compared to ₹1,793 million reported in FY23.
For Q4 FY25, the company reported strong financial performance. The company's PAT for the quarter was recorded at ₹91.8 Crore, up from ₹68.4 Crore in the same period last year. Its revenue from operations rose to ₹440.8 Crore in Q4 FY25, a 16.6% Y-o-Y rise from ₹378.1 Crore reported in Q4 FY24. At the operating level, Poly Medicure's earnings before interest, tax, depreciation, and amortisation (EBITDA) rose to ₹119.5 Crore, with an EBITDA margin of 27.1% in the March quarter, compared to ₹96.5 Crore and 25.5%, respectively, in the same period last financial year.
Key financial highlights for FY25 include:
* Revenue from operations increased by 17% in Q4 2025 compared to Q4 2024; FY2025 revenue growth stood at 21%.
* Export revenue for FY2025 increased by 24% YoY, driven by continued strong performance in key international markets.
* Profit After Tax (PAT) increased by 34% in Q4 2025 compared to Q4 2024, PAT margin expanded by almost 270BPS to 21% in Q4 2025.
The company has been diversifying its business portfolio with strategic expansions. FY 2025 has been a transformative year for Polymed as we commercialized two new divisions, Cardiology and Critical Care. Renal division continues to gain market share in the domestic market with revenue growth of 69% and 60% in Q4 and FY2025 period respectively.
Poly Medicure has been making significant capital investments to support future growth. The company incurred a CAPEX of ₹325 Crore in FY 25 reflecting our commitment to create adequate infrastructure to capture future growth opportunities in the sector.
The company boasts state-of-the-art manufacturing facilities globally, including 5 in India and 3 overseas. They have a presence in Italy and China through wholly-owned subsidiaries, as well as a joint venture in Egypt. This global manufacturing footprint enables the company to serve diverse markets effectively and maintain competitive positioning.
The company maintains a strong focus on research and development. A significant capital expenditure plan of ₹500 Crore aims to enhance manufacturing capabilities, supported by a commitment to innovation reflected in 334 global patents. This substantial patent portfolio demonstrates the company's commitment to innovation and technological advancement in the medical device sector.
Management has noted that while ongoing geopolitical conditions and uncertainty created by US-imposed tariffs may create short-term pressure on demand in certain export markets, India's Medtech sector is well positioned to benefit in the long term as global customers look to create alternate supply chains. Recent geopolitical developments, including the US imposing 245% tariffs on Chinese medical imports, particularly syringes and needles, have renewed interest in Indian medical device manufacturers, with Poly Medicure positioned to benefit from increased domestic production and exports.
The balance sheet position remains strong with liquidity position of ₹1,220 Crore as at March 2025, indicating robust financial health. The company is almost debt-free. This strong balance sheet provides flexibility for future investments and strategic initiatives.
Over the last 3 years, Poly Medicure Ltd share price moved up by 236.27% on BSE. The Poly Medicure Ltd's 52-week high share price is ₹3,350.00 and 52-week low share price is ₹1,590.25. This significant appreciation reflects investor confidence in the company's business model and growth prospects.
The company continues to focus on expanding its market presence both domestically and internationally, with strategic investments in manufacturing capabilities and new product development positioning it well for sustained growth in the evolving medical device industry.
