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Poly Medicure Q4 results: Profit rises 34% on strong exports, new divisions

Delhi-based medical device manufacturer Poly Medicure on Wednesday announced a 34 per cent year-on-year (Y-o-Y) rise in consolidated profit after tax (PAT) for the March quarter of financial year 2024–25 (Q4FY25), driven by strong export revenue and the commercialisation of its new cardiology and critical care divisions. The company's PAT for the quarter was recorded at Rs 91.8 crore, up from Rs 68.4 crore in the same period last year. Its revenue from operations rose to Rs 440.8 crore in Q4FY25, a 16.6 per cent Y-o-Y rise from Rs 378.1 crore reported in Q4FY24. The company stated that its export revenue for the March quarter increased by 14 per cent year-on-year, driven by continued strong performance in key international markets. Exports formed around 67 per cent of the company's revenue mix—double that of the domestic market, which accounted for 32 per cent of overall revenue in Q4. Commenting on the performance, Himanshu Baid, managing director, Poly Medicure, said 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. At the operating level, Poly Medicure's earnings before interest, tax, depreciation, and amortisation (EBITDA) rose to Rs 119.5 crore, with an EBITDA margin of 27.1 per cent in the March quarter, compared to Rs 96.5 crore and 25.5 per cent, respectively, in the same period last financial year. Baid added that the company's margins have continued to expand at a higher scale of operations, giving it the confidence to continue investing capital in expanding manufacturing capacities. The company currently has 12 manufacturing facilities, with three more under construction in India. It has a portfolio of over 200 medical devices across 12 medical therapies, including infusion therapy, vascular access, dialysis and renal care, among others. On Wednesday, Poly Medicure's shares rose by 2.06 per cent, closing at Rs 2,835.65 apiece on the Bombay Stock Exchange (BSE).