Poly Medicure to invest ₹500 cr in new plants for global market push

Delhi-based medical consumables and devices maker Poly Medicure is looking to significantly expand its global footprint, driven by new manufacturing facilities and an aggressive push into key export markets like the United States (US), Brazil and Europe.

 

However, this foreign push comes at a time when the device maker is seeing headwinds arising out of short-term demand uncertainties due to on-going geopolitical tensions and tariff issues.

 

“We are monitoring the evolving situation closely. For now, our plans for the US market remain unchanged,” Himanshu Baid, managing director of Poly Medicure, told Business Standard.

 

“We are working toward securing global regulatory approvals, including US food and drug administration (USFDA) and other international registrations for our devices,” he added.

 

The company will be spending ₹500 crore on capex planned over the next 18 to 24 months for three new manufacturing facilities in Faridabad, Haridwar and Jaipur with a focus on scaling up renal (dialysis) capacity and other opportunities.

 

The company is aiming to operationalise these plants by 2026, and begin exporting soon, targeting established global markets with proven product lines. 

 

 

By the end of FY26, the company is expecting to have around 10 to 12 products in the US, which would be approved by the FDA.

 

Revenue from the international market, which contributes approximately 70 per cent of the company’s consolidated revenue, declined by 0.9 per cent in the first quarter of 2025-26 (Q1FY26).

 

For Q1FY26, the company reported a 25 per cent year-on-year (Y-o-Y) increase in consolidated net profit at ₹93.1 crore, up from ₹74 crore a year earlier.

 

Revenue from operations also rose by 4.8 per cent to ₹403.2 crore from ₹384.8 crore in the same quarter last year.

 

Commenting on the growth plans for FY26, Baid said that the company has already given guidance for overall growth to be around 20 per cent for the full financial year.

 

“We expect around 30 per cent of this growth from India. The two new divisions, cardiology and critical care, will also be contributing in the revenue stream, much more than what they were contributing last year,” he added.

 

The company is targeting revenues in the range of ₹220 crore to 250 crores from its dialysis products alone.

 

“To support this growth, we are significantly expanding capacity not just for the domestic market but also with a strong focus on exports,” Baid said.

 

Alongside dialysis, Poly Medicure will also focus on cardiology and oncology product lines.

 

“However, scaling these up, especially to a global level, will take about two to three years. The idea is to first establish a strong presence in the Indian market, and then scale globally,” he added.