Stockrabit · Analysts
Questions across 3 calls

Himanshu Baid

Firm not listed in source transcripts

Poly Medicure Limited

Poly Medicure Limited CC-May26.pdf · 2026-05-25
And on the other 2 companies, yes, PendraCare and Citieffe have almost 50% sales in Europe and 50% in rest of world. Citieffe has also a business in North America, in U.S. and Mexico, which is around 35%, 40% of the business right now and 50% is in Europe. PendraCare has majority of the business in Europe and then some business in Middle East and Latin America. And on the Indian business, on the -- in stand-alone business, basically, we are seeing domestic business will grow around 20%. That's what I've guided again. And international business will grow around 15% or so. So we're anticipating stand-alone business to grow to around INR1,900 crores to INR1,950 crores from a current base of around INR1,662 crores.
I would say that we have bounced back in Europe. That's what I can tell you right now. We have added quite a few customers in Europe. And also the existing customers where we had an over inventory situation and we had a little slowdown in demand. I think that has come back. And currently, in last 3-4 months, we are seeing a good uptake, and the pipeline is also very, very strong in Europe. Overall, we are very positive about the current business in Europe, what we are doing from Polymed stand-alone basis.
Poly Medicure Limited CC-Feb26.pdf · 2026-02-06
Yes, that is correct.
See, basically, as I have told earlier, I think we face certain headwinds on the export front, especially in the European markets. And I think that was the main reason for lower growth of stand-alone revenue. But as I've been mentioning in my previous calls also, as markets are getting better, we see conditions changing. Of course, last year has been a difficult year, especially with the freight crisis and then, of course, China dumping excessively in various markets. So we saw a muted or maybe almost a small negative growth on the export front. But now things are looking better. And I think as we see this year, especially in Europe, we are adding 5 to 6 new customers starting April. So, this will and especially in developed markets. I think this time, we are also getting some new contracts in U.K., especially with the NHS. So all that will help us to grow back the European business, which has been very laggard or lacking the growth actually.