[New Delhi, 12th Aug 2019] Poly Medicure Limited today announced Financial Results for its Q1 FY 19-20 ended June 30, 2019. Highlights of the unaudited financial results as compared to the previous quarter are:
Highlight of Quarter Performance:
The company continued its growth phase with a solid business performance in the first quarter. The company acknowledges the Government of India’s initiative to promote Make in India products and also thanks Government of India for reducing custom duty on parts /raw materials to make Dialyzer (artificial kidney) used in Dialysis treatment. This initiative will help in reduction of manufacturing cost for dialyzers (artificial kidney) and in turn reduce cost of Dialysis treatment to patients. The company is expanding its reach in Tier 2 and Tier 3 cities where demand is set to grow multifold due to implementation of Ayushman Bharat program (PMJAY).
The company is also setting up a new plant in Mahindra SEZ zone near Jaipur for expansion of manufacturing activities and expand its reach in Europe and Asia.
Managing Director, Poly Medicure Limited
About Poly Medicure Ltd (POLYMED)
Poly Medicure Limited (Polymed), is an Indian Medical Device Company with over 20 years of experience in manufacturing high quality medical devices. It is one of the leading manufacturer and exporter of medical devices with a focus on innovation, safety, and quality. The company has been awarded as the “India Medical Devices Company of the Year” by Department of Pharmaceutical Ministry of Chemical & Fertilizer, Government of India. The company has recently set up a facility to make Renal Care / Dialysis products in India which are 100% import substitution. The Company has 5 domestic (3 Faridabad and one each in Jaipur & Haridwar) and 3 overseas (China, Egypt & Italy) manufacturing facilities.
With its strong R&D initiatives, the Company have successfully been granted 230+ product and process patents globally and have also filed for grant of an additional 210+ patents.