Poly Medicure expanding in Uttar Pradesh

Homegrown medical devices and disposables company Poly Medicure is expanding in the Uttar Pradesh market.

It has opened a depot in Lucknow to cater to the retail and institutional segments in central and eastern UP regions.

“The new depot will cater to the burgeoning demand in the northern belt at a much faster pace,” Senior General Manager, Poly Medicure, Hemant Bhalla said here.

The company is also planning to expand its production capacity by 25 per cent next year to meet the increased demand in the domestic market.

Almost 75 of its revenue comes from the export market comprising nearly 70 countries in Europe, Asia and Africa. It markets its products under the brand name of Polymed.

Poly Medicure has earmarked Rs 25 crore for a green-field project in Jaipur. It will also set up a new plant in Faridabad and expand capacity of its Haridwar facility.

“We are eyeing a turnover of Rs 170 crore in the current financial year. It will be up from Rs 135 crore of last year,” he added.