| Summary | Date | Stock | Author | LTP | Target | Price at reco (Change since reco%) |
Upside(%) | Type | Report | Discuss | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 25 Jul 2024 | Poly Medicure |
ICICI Securities Limited
|
1977.00 | 1940.00 | 2023.10 (-2.28%) | Target met |
Hold
|
Fresh capacity and exports to drive momentum
ICICI Securities Limited
Poly Medicure’s (PolyMed) Q1FY25 performance was boosted by exports (~23% YoY) while domestic business growth (~12% YoY) took a pause on high base. The company has commissioned four new plants that may double its device manufacturing capacity to 1.8bn units p.a by FY25 end.
|
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| 09 Aug 2023 | Poly Medicure |
ICICI Securities Limited
|
1977.00 | 1415.00 | 1391.50 (42.08%) | Target met |
Hold
|
Strong all-round performance
ICICI Securities Limited
Poly Medicure reported its all-time high revenues and EBITDA in Q1FY24 driven by solid performance across India (30% YoY growth) and Europe (35%). Softening of raw material prices fuelled a 220bps jump in gross margin. Ahead EBITDA margin is likely to be between 25-27%. Company will commercialise 4 manufacturing facilities in FY24 and launch 10-12 products in critical care segment, which will also likely drive growth and aid margin expansion.
|
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| 30 Jan 2023 | Poly Medicure |
ICICI Securities Limited
|
1977.00 | 991.00 | 871.45 (126.86%) | Target met |
Accumulate
|
Growth sustains; margin expands
ICICI Securities Limited
Poly Medicure’s (Polymed) Q3FY23 performance beats our estimates on all fronts. Revenue grew 23.7% YoY to Rs2.8bn (I-Sec: Rs2.7bn) led by strong demand across segments. EBITDA margin improved 270bps YoY and 140bps QoQ to 24.9%, supported by strong gross margin expansion.
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| 08 Nov 2022 | Poly Medicure |
ICICI Securities Limited
|
1977.00 | 980.00 | 962.40 (105.42%) | Target met |
Hold
|
