Profit before tax increased 28.93% year on year (YoY) to Rs 113.23 crore in the quarter ended 31 December 2023.

EBITDA grew 27.9% YoY to Rs 116.3 crore during the quarter. EBITDA margin improved to 27.4% in Q3 FY25, compared to 26.8% posted in Q3 FY24.

Total expenses in Q3 FY25 were at Rs 334.51 crore, up 24.33% YoY. Cost of materials consumed was Rs 141.95 crore (up 19.57% YoY) while employee benefits expense stood at Rs 77.89 crore (up 28.96% YoY) during the period under review.

On nine-month basis, the company’s consolidated net profit climbed 29.92% to Rs 246.72 crore on 23.18% rise in revenue to Rs 1,229 crore in Q3 FY25 over Q3 FY24.

Export revenue for the nine months increased by 29% YoY, driven by continued strong performance in key international markets.

The domestic quarterly and nine-month revenue growth of 24% and 17% YoY respectively on a YoY basis, demonstrating the company’s continued investments in building R&D and sales capabilities.

Himanshu Baid, managing director, Poly Medicure stated: “We are extremely pleased with our continued growth in the business in the last quarter. Overall revenue grew by almost 25% with EBITDA and PAT growing by 28% and 31% respectively. We are on track to achieve our revenue growth guidance of 22-24% while improving our EBITDA margin by 100 – 150 bps.

I am very excited to share that we have received regulatory approval to launch our Drug Eluting Stent and commercialisation of that is expected soon. That will give a significant fillip to our Cardiology business. We continue to invest aggressively in building our manufacturing capacities and recently ground-breaking ceremony was held at our Palwal Plant, which will be the largest plant that we would be seƫng up at a single location.

We have also signed a JV agreement to set up a 10MW Solar Power plant in Haryana where we will own 26% stake. This will go a long way in achieving our sustainability goals and reduce our carbon-footprint. We are very excited about the growth opportunity that India provides in the MedTech sector and our continued investments strongly reflects in that belief.”

Poly Medicure exports plastic medical disposables/surgical devices. It manufactures and supplies approximately 100 types of disposable medical devices in the product verticals of infusion therapy, anesthesia, urology, gastroenterology, blood management and blood collection, surgery and wound drainage, dialysis and central venous access catheters.