Galaxy Medicare Ltd. IPO

Our Company was originally incorporated in the name & style of “Galaxy Medicare Limited” on July 23, 1992, in Bhubaneswar, Odisha as a Public Limited Company under the provisions of the Companies Act, 1956 vide Certificate of Incorporation bearing CIN: U24232OR1992PLC003113, ... issued by Registrar of Companies, Cuttack, Odisha. The Registered Office of the Company is situated at Plot No-2, Zone D, Mancheswar Industrial Estate, Bhubaneswar, Khorda, Odisha, -751010, India. Our company commenced its operations in 1992 when our founder, Mr. Dillip Kumar Das, acquired a closed business unit from Odisha Industrial Infrastructure Development Corporation (IDCO) and Odisha State Financial Corporation under the investment promotion, facilitation and aftercare strategy of Industrial Promotion and Investment Corporation of Odisha (IPICOL) and revived the business unit to start manufacturing of Medical Devices such as Plaster of Paris Bandage (POP Bandage), Medical Tapes and Bandages, Other surgical dressings and external preparations products of Wound care & Wound management including sterile surgical wound dressing, medical disposable, adhesive bandages, absorbent gauze, etc. Our business operations have been led by our Promoter Mr. Dillip Kumar Das and assisted by his younger son, Mr. Subhasish Das and his Daughter-in-Law, Mrs. Kiran Das who have experience in the Medical Device, Plasters of Paris Bandages (POP Bandage) and Other Surgical Dressing Industry. Our Company Galaxy Medicare Limited is into the manufacturing, trading and exporting of Medical Devices, Plasters of Paris Bandages (POP Bandage) and Other surgical dressings in India. Our business encompass: 1. Manufacturing and Branding of our own products under our flagship brands i.e. POP BAND, POP CAST, G CAST, GYPSOSOFT, GYPSOPLAST, CARETAPE, GYPSOCREPE, CARECREPE, CAREPORE GYPSONET, GYPSOCHLOR, FIXCAN ETC.; 2. Original Equipment Manufacturers (“OEMs”) ranging from sourcing of components, designing, manufacturing,quality testing as per the specifications provided by certain brand owners on Principal-to-Principal basis; 3. Institutional sale to various Government Department through participation in tenders on platforms like GEM Portal; 4. Exporting our manufactured product to international markets; and Trading of medical device and other surgical dressings. • Contract Manufacturing ranging from sourcing of components, designing, manufacturing, quality testing as per the specifications provided by certain brand owners on Principal-to-Principal basis. • Manufacturing Process: Our Company has undertaken a mix of product orientation and production orientation to mass-produce Medical device, Medical Tapes and Bandages and Other Surgical Dressings items in a mechanized manner to ensure the lowest cost of manufacturing, while focusing on quality and customer needs at our Manufacturing Facility. Production of items like Plaster of Paris bandage, Elastic Adhesive Bandage, Hypoallergenic Skin Barrier Microporous Surgical Tape, Cotton Crepe Bandage, Zinc Oxide Adhesive Tape, Sterile Paraffin Gauze Dressing, Orthopedic Wool Bandage, Cannula Fixator, Orthopedic Casting Tape, and Sterile Antiseptic Tulle-Gras dressing etc. are carried out in-house for domestic sale, Institutional sales to Government Department, Export and Trading. Whereas products are manufactured under Contract Manufacturing as per the design and direction given by our clients. Design and packaging of our products are carried out in-house. Read more

The global plaster bandages market size was USD 8.8 Billion in 2023 and is projected to reach USD 14.9 Billion by 2032, expanding at a CAGR of 5.60% during 2024-2032. The market growth is attributed to the growing demand for effective healing solutions.

Increasing demand for effective ... wound care solutions is underscoring the importance of plaster bandages. These medical products, which provide support and protection to injured body parts, are a staple in healthcare settings worldwide. Plaster bandages find unique application in the field of prosthetics beyond their traditional role in fracture management, where they are used to create molds for prosthetic limbs, and in the arts, where they serve as a tool for creating sculptures and casts. In 2024, the revenue in the Wound Care market worldwide amounts to US$3.44bn. This market is projected to grow annually by 0.40% (CAGR 2024-2029). Among all countries, the in the United States generates the highest revenue with US$1,052.00m in 2024. In terms of per person revenues, the global average is US$0.44 in 2024. The Indian medical tapes and bandages market was valued at INR 2,296 crore in 2021 which is expected to reach INR 3,362 crore in 2028 at a CAGR of 5.8%. Medical POP Bandage, adhesive tapes and bandages are designed for a variety of healthcare applications. It is used to secure wound care dressing, secure wounds and skin, compression bands, and other healthcare devices. The medical tapes and bandages are an essential part of any medical procedure. The growth of the market is attributed to the rising cases of burning and road accidents. Medical tapes and bandages are widely used for traumatic wound treatment in India, which was valued at INR 996 crore in 2021 and is predicted to reach INR 1,424 crore by 2028 at a CAGR of 5.4%. Traumatic wounds comprise skin tears, lacerations, abrasions, bites, and penetrating trauma wounds. Several wound tapes are available for traumatic wound treatment such as Curi-strip, Nichi-Strip, Steri-Strip, and 3M Steri-Strip. The other segment includes IV site dressings, fractures, and diagnostic use. This segment is expected to grow fastest during the forecast period from ? 57 crore in 2021 to ? 88 crore by 2028 at a CAGR of 6.6%. Read more