Multibagger Bearing: There have been many ups and downs in the domestic market today. While Poly Medicure, a leader in the medical device and supplies industry (poly medicine) shares have been a great buy, up 2.29 percent today to Rs.890 (Poly Medicure Stock Price) are closed. According to market experts, the growth will not stop yet, but now it can reach 11 percent more. Speaking of the long term, its shares have made investors millionaires with an investment of just Rs.32,000. Now there is an opportunity to earn even more returns by investing at the current price.
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Poly Medicure made 32,000 rupees a crore
It wasn’t long before PolyMedicure was turning investors into millionaires. His shares were available on January 30, 2009 for just Rs.2.81. After that it is now up 31573 percent priced at Rs.890. It means that at that time the investment of just Rs.32,000 has increased by 317 times in just 14 years to become a capital of Rs.1.01 crore. Poly Medicure has not only delivered excellent returns over the long term, but also over shorter periods of time.
Its shares were valued at Rs 652.30 last year on May 26, 2022, which is a one-year record low. Thereafter, purchases of shares in the company increased, rising 60 percent to Rs.1,044.40 in just 6 months. So far, however, it has lost 15 percent under selling pressure.
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What’s the next trend
According to domestic brokerage firm ICICI Securities, the December 2022 quarter was better than expected for Poly Medicure. Driven by strong demand across all segments, the company’s October-December 2022 revenue increased by 23.7 percent to Rs 280 billion on an annualized basis. The company’s net income rose 44.9 percent to $500 million over the same period.
The brokerage firm has a strong position in the fast-growing medical disposables segment, a key beneficiary of the China+1 strategy, leading market shares in key categories, entry into large markets such as the US, expansion into high-margin segments, and strong finances have expressed confidence in them. The brokerage firm believes that after hitting the yearly high, the decline should be viewed as a great investment opportunity. ICICI Securities has upgraded its rating from ‘Hold’ to ‘Add’ and set an investment target of Rs 991.
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