• Growth guidance: Poly Medicure is guiding for consolidated revenue of around 2,300 crores in FY27, driven by 20% domestic growth and 15% international growth.
• High-tech portfolio expansion: The company is pivoting towards high-margin cardiology and orthopedic devices, targeting 150 crores in revenue from these products over three years while keeping infusion therapy at about 50% of the product mix.
• Margin and pricing outlook: Crude-linked raw material inflation poses a potential 200–250 bps gross margin headwind from Q2, which the company aims to offset via rupee depreciation, cost-saving initiatives, and a price hike in late Q2 or early Q3.
• Supply chain disruptions: Red Sea route challenges and shipping freight increases of 5x to 7x caused 20 to 30 crores of deferred revenue in March, with a similar deferral impact seen in Q1.
• Renal business outlook: Renal care revenue is projected to grow 20% to roughly 230 crores, with dialysis machine sales rising from 450 to 550–600 units, despite competition from Chinese imports entering via zero-duty FTA routes.