BQ Prime’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
ICICI Securities Report
Poly Medicure Ltd.’s Q4 FY22 performance was a beat on our estimates. Revenues grew 20.9% YoY to Rs 2.6 billion (our estimate: Rs 2.4 billion) mainly due to strong growth in the domestic market.
Elevated costs pulled Ebitda margin downward by 380 bps to 21.6% (our estimate: 22.3%).
However, raw material and freight costs have started softening; hence, we expect improvement in margins FY23 onwards.
Adjusted profit after tax declined 6.9% YoY to Rs 362 million (our estimate: Rs 319 million).
We like Poly Medicure mainly due to its-
strong presence in the fast-growing medical disposable segment,
industry tailwinds,
leading market share in key categories,
entry into larger markets like the U.S.,
expansion into margin-accretive segments, and
strong financials.
Click on the attachment to read the full report:
DISCLAIMER
This report is authored by an external party. BQ Prime does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BQ Prime.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.
As a Subscriber you get
Stories
RECOMMENDED FOR YOU
POPULAR