Poly Medicure

Untitled (1900 × 1000 px) (1)

Special Situation : Business in transition

Import substitution of medical consumables in India
High margin domestic branded business gaining traction
Branded business in Europe and US taking off
Growth without equity dilution till 2021

Exit

MCap journey $ 250 mn to $ 900 mn over 2 years
Huge runway for growth:
Exports move from white label to branded
Domestic business progressively gets accepted
Higher bet size was warranted at the time of investment
Local manufacturing and China+1 strategy aids business

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