- Medical Device and China Market outlook: Chinese companies would be exporting close to $75 billion to $100 billion of medical products. These are different from a needle to an MRI machine and the number could be even bigger. A lot of U.S. companies are based in China, they have their own
subsidiaries, and they cater to their own parent companies. So the market potential is huge out of China, which could go out of India. And what I’ve heard
in different corridors and people talking about is that they want to move like 30% business out of China in next 2 to 3 years. And that is where I see a big opportunity for Indian companies. It’s India’s infrastructure, India’s supply chain can cater that whole manufacturing ecosystem, I think India is in a great place to take that market share. - How many number of angiographies done in India ? Answer : Almost 20 lakh angiographies are done in India today and most of the products used there are imported. So for us, the market that is the big size of the pie. And that is what we are targeting today that what are the catheters which are needed for angiography, balloon caterers or diagnostic catheters or
guidewire or anything related to interventional cardiology. That is where we are focusing on right now. So our major focus will be on these kind of products. And then we will probably get into more, let’s say, complex products going forward with radio sheets or something with a femoral sheet or something else. So that is what we are trying to build in as a business.!!!
We see a number of cardiology patients; cancer patients and renal dialysis patients continue to increase in the country and then also the critical care infrastructure of the country is also getting augmented after COVID. A lot of focus has been there on the critical care side, where we had shortage of critical ICU beds. So in critical care sales also, we see a significant growth. The company has been focusing on a few of the areas earlier, but now maybe more focus and will be adding more products in this category of products in the next few years. - The guidance for the current financial year is to grow at the same pace as last year. So again, we are guiding for revenue increase of around 22% to 24% in the current financial year (FY24 Guidance was 22-24% and actual delivered 23.6%) And also as we see more operative leveraging or leverage coming our way, we are guiding for a better EBITDA margin in the coming financial year, improving by around 100 to 150 bps. ( FY24 EBITDA 29.07%)!!
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