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PolyMed Q1 Call: FY27 Cons. Revenue Guided at ₹2,300-2,400 Cr; Plans ₹200-225 Cr Capex
Poly Medicure reported its Q1 FY27 earnings call details, maintaining full-year consolidated revenue guidance of ₹2,300 to ₹2,400 Cr (vs ₹2,024 Cr TTM) and consolidated EBITDA margins of 23% to 25%. Q1 consolidated revenue grew 30.3% YoY to ₹525 Cr, bolstered by ₹72.3 Cr in revenue from newly acquired businesses (PendraCare and Citieffe). The company plans ₹200 to ₹225 Cr in FY27 capex (~10-11% of TTM revenue) for manufacturing facilities under construction in Faridabad and Noida, backed by ₹855 Cr in liquid reserves. Under its 'PolyMed 3.0' roadmap, management aims to double revenues by FY30 via organic and inorganic expansion in high-complexity devices.
Confidence: HIGH
What changedManagement formalized its PolyMed 3.0 vision to double revenue by FY30 and reiterated full-year FY27 guidance of ₹2,300-2,400 Cr.
Why it mattersDemonstrates successful integration of recent acquisitions into higher-margin cardiology/orthopedic segments while keeping balance sheet liquidity robust at ₹855 Cr.
FY27 Cons. Revenue Guidance: ₹2,300 to ₹2,400 CrFY27 Capex Plan: ₹200 to ₹225 CrFY27 Capex vs TTM Revenue: ~10.5%Q1 Cons. Revenue: ₹525 CrCash & Liquid Reserves: ₹855 CrQ1 M&A Revenue Contribution: ₹72.3 Cr
📅 Short termOperating margins remain robust at 24.1% consolidated, though Middle East shipping bottlenecks and higher employee costs from Haryana wage revisions will be factors to track in Q2.
📈 Long termTransition toward high-complexity medtech verticals (cardiology, oncology, orthopedics) reduces concentration risk in basic infusion disposables and supports long-term margin resilience.
⚠ Risk flags
- Logistical disruptions causing a 32% decline in Middle East export sales.
- Pricing competition from Chinese imports in the renal segment.
- Employee cost inflation following a 35% hike in Haryana minimum wages.
Key Highlights
Q1 FY27 consolidated revenue grew 30.3% YoY to ₹525 Cr, with organic growth at 12.4% and acquisitions contributing ₹72.3 Cr.
FY27 consolidated revenue guided at ₹2,300 to ₹2,400 Cr with EBITDA margins expected at 23% to 25%.
Planned capex of ₹200 to ₹225 Cr for FY27, backed by cash/liquidity reserves of ~₹855 Cr.
Cardiology segment expanded sharply to ₹28.6 Cr from ₹2.9 Cr, driven by the PendraCare integration.
Export performance mixed: Europe organic revenue grew 17.6%, while Middle East declined 32% due to regional logistics bottlenecks.
👀 What to Watch
Monitor execution milestones on Faridabad and Noida plant additions, normalization of Middle East logistics, and the government's antidumping investigation on Chinese dialyzers.
Poly Medicure Fixes Aug 29, 2026 Record Date for ₹3.50/Share Final Dividend
Poly Medicure Limited has fixed Saturday, August 29, 2026, as the record date for determining shareholder eligibility for a final dividend of ₹3.50 per equity share (face value ₹5 each) for FY 2025-26. The Register of Members and Share Transfer Books will remain closed from August 30, 2026, to September 05, 2026. The dividend is subject to approval by shareholders at the upcoming Annual General Meeting scheduled for September 05, 2026. On an FY26 EPS of ₹31.79, this payout represents a dividend payout ratio of approximately 11.0%.
Confidence: HIGH
What changedPoly Medicure established the record date and book closure timeline for its FY26 final dividend of ₹3.50 per share.
Why it mattersDetermines shareholder entitlement to dividend distribution; represents a regular cash return with a dividend yield of ~0.20% at the current market price of ₹1,786.20.
Final Dividend per share: ₹3.50Face Value per share: ₹5.00Record Date: 29-Aug-2026AGM Date: 05-Sep-2026Dividend vs FY26 EPS: ~11.0%
📅 Short termThe stock will adjust for the ₹3.50 ex-dividend value around the August 29, 2026 record date.
📈 Long termLimited; this is a routine corporate action reflecting standard capital return policy.
Key Highlights
Final dividend recommended at ₹3.50 per equity share on a face value of ₹5 (70% payout on face value)
Record date / Cut-off date set as Saturday, August 29, 2026
Share transfer books closed from August 30, 2026, to September 05, 2026
Annual General Meeting (AGM) scheduled for Saturday, September 05, 2026
👀 What to Watch
Investors seeking dividend eligibility must hold shares before the ex-dividend date; track AGM voting outcomes on September 05, 2026, for final approval.
30.3% Revenue Growth in Q1 FY27; Cardiology Segment Surges 897% YoY
Poly Medicure reported a strong 30.3% YoY growth in consolidated revenue to ₹525.4 Cr for Q1 FY27, driven by the Cardiology segment and recent acquisitions. However, consolidated PAT declined by 8.4% to ₹85.3 Cr, impacted by a 55.1% increase in depreciation and a 120.4% rise in finance costs following expansion activities. EBITDA margins contracted by 257 bps to 24.1% due to pricing pressure in the Renal segment from Chinese competitors. The company maintains a robust liquidity position with approximately ₹850 Cr in cash to fund its 'Polymed 3.0' growth phase.
Confidence: HIGH
What changedThe company has transitioned into 'Polymed 3.0', shifting focus toward high-complexity verticals like Cardiology and Orthopaedics, which now contribute significantly to the revenue mix.
Why it mattersDiversification is reducing reliance on the core Infusion Therapy segment (now 50% of revenue vs 58% YoY), moving the company up the value chain into advanced medical technologies.
Consolidated Revenue (Q1 FY27): ₹525.4 CrRevenue Growth (YoY): 30.3%Consolidated PAT: ₹85.3 CrEBITDA Margin: 24.1%Cash Balance: ₹850 CrMiddle East De-growth: 32%
📅 Short termThe market may focus on the margin compression and PAT decline in the immediate term, despite the strong top-line performance.
📈 Long termThe structural shift toward specialized medical devices and inorganic expansion supports the company's long-term target of 18-20% CAGR.
⚠ Risk flags
- Pricing pressure from Chinese players in the Renal segment
- Geopolitical risks in the Middle East impacting export volumes
- Increased interest and depreciation costs from recent capital expenditure
Key Highlights
Consolidated revenue reached ₹525.4 Cr, up 30.3% YoY, representing approximately 27.6% of TTM revenue.
Cardiology segment revenue grew 897% YoY to ₹28.6 Cr, aided by the PendraCare acquisition and domestic scale-up.
EBITDA margins compressed to 24.1% from 26.7% YoY, primarily due to pricing pressure in the Renal business.
Middle East revenue (within RoW) declined by ~32% YoY on account of the West Asia crisis.
The company holds a strong cash balance of ~₹850 Cr as of June 2026.
👀 What to Watch
Monitor the outcome of the anti-dumping investigation initiated by the Government on dialyzers from China and Malaysia, which could protect domestic margins. Watch for the stabilization of operating margins as the high-growth Cardiology and Orthopaedics segments scale up.
Poly Medicure Q1 FY27: Revenue grows 30% YoY to ₹525 Cr; Deputy CS resigns
Poly Medicure reported a strong 30.3% YoY growth in consolidated revenue to ₹525.38 Cr for Q1 FY27. However, Profit After Tax (PAT) declined by 8.4% YoY to ₹85.27 Cr, primarily driven by a 70.6% surge in employee benefit expenses to ₹126.90 Cr. The board also approved the allotment of 1,975 ESOP shares and noted the resignation of Deputy Company Secretary Ravi Prakash, effective August 10, 2026. While top-line growth is robust, the margin compression due to rising costs is a key point of observation.
Confidence: HIGH
What changedThe company reported its Q1 FY27 financial results and announced the departure of its Deputy Company Secretary and Compliance Officer.
Why it mattersThe results show significant top-line momentum but highlight immediate margin pressure from operating expenses. The management change is administrative and unlikely to impact operations.
Q1 FY27 Consolidated Revenue: ₹525.38 CrQ1 FY27 Consolidated PAT: ₹85.27 CrYoY Revenue Growth: 30.3%Employee Expense Increase (YoY): 70.6%ESOP Exercise Price: ₹100
📅 Short termThe stock may see volatility as the market weighs strong revenue growth against the year-on-year decline in profitability.
📈 Long termThe company's expansion into dialysis and oncology, supported by its ₹1,100 Cr QIP, remains the primary long-term value driver despite short-term margin fluctuations.
⚠ Risk flags
- Margin compression due to rising employee costs
- Increased raw material consumption costs (up 30% YoY)
Key Highlights
Consolidated revenue from operations increased 30.3% YoY to ₹525.38 Cr from ₹403.21 Cr.
Consolidated PAT fell 8.4% YoY to ₹85.27 Cr compared to ₹93.08 Cr in the year-ago quarter.
Employee benefit expenses spiked to ₹126.90 Cr, representing 24.2% of revenue versus 18.5% YoY.
Allotment of 1,975 equity shares under ESOP 2020 at an exercise price of ₹100 per share.
Deputy Company Secretary Ravi Prakash resigned to pursue alternate career opportunities, effective August 10, 2026.
👀 What to Watch
Investors should monitor the sustainability of the 30% revenue growth and whether the sharp increase in employee costs is a one-time adjustment or a structural shift in the cost base.
Q1 FY27 Results: Revenue Grows 30% YoY to ₹525 Cr; PAT Declines 8% to ₹85 Cr
Poly Medicure reported a robust 30.3% YoY growth in consolidated revenue to ₹525.38 Cr for Q1 FY27. However, Net Profit (PAT) declined by 8.4% YoY to ₹85.27 Cr, primarily due to a 70.6% surge in employee benefit expenses and a 30.3% increase in raw material costs. Sequentially, PAT showed a strong recovery, rising 31.1% from ₹65.04 Cr in Q4 FY26. The board also approved a minor ESOP allotment and noted the resignation of the Deputy Company Secretary.
Confidence: HIGH
What changedThe company reported its Q1 FY27 financial performance, characterized by strong top-line growth but compressed year-on-year profitability due to higher operating expenses.
Why it mattersWhile the 30% revenue growth confirms strong demand, the decline in PAT highlights margin pressure that could challenge the company's high P/E valuation of 53.7 if sustained.
Consolidated Revenue (Q1 FY27): ₹525.38 CrConsolidated PAT (Q1 FY27): ₹85.27 CrYoY Revenue Growth: 30.3%YoY PAT Growth: -8.4%Employee Expense Increase: 70.6%New Paid-up Capital: ₹50,68,07,325
📅 Short termThe stock may face neutral-to-cautious sentiment as the market weighs strong sales growth against the year-on-year decline in bottom-line profitability.
📈 Long termThe long-term outlook remains tied to the company's ability to scale its dialysis and oncology segments and successfully execute its capacity expansion strategy funded by the recent QIP.
⚠ Risk flags
- Significant increase in employee benefit expenses
- Raw material cost volatility (plastics/crude linked)
- Resignation of a Key Managerial Personnel (Deputy Company Secretary)
Key Highlights
Consolidated Revenue from operations increased 30.3% YoY to ₹525.38 Cr from ₹403.21 Cr.
Consolidated Net Profit (PAT) decreased 8.4% YoY to ₹85.27 Cr compared to ₹93.08 Cr in the year-ago quarter.
Employee benefit expenses surged 70.6% YoY to ₹126.90 Cr, impacting operating margins.
Cost of materials consumed rose 30.3% YoY to ₹183.88 Cr, tracking revenue growth exactly.
Paid-up equity share capital increased to ₹50.68 Cr following the allotment of 1,975 shares under the ESOP scheme.
👀 What to Watch
Monitor the stabilization of employee costs and raw material prices in upcoming quarters to see if margins return to the TTM average of 23.2%. Watch for updates on the utilization of the ₹1,100 Cr QIP funds for capacity expansion.
CRISIL Revises Poly Medicure's Outlook to 'Positive'; Reaffirms AA- Rating
CRISIL Ratings has revised the outlook on Poly Medicure Limited's long-term bank facilities to 'Positive' from 'Stable', while reaffirming the rating at 'CRISIL AA-'. The short-term rating has also been reaffirmed at 'CRISIL A1+', the highest possible for short-term instruments. Furthermore, the total rated bank loan facilities have been enhanced to Rs. 500 crore from the previous Rs. 400 crore. This outlook revision suggests a potential rating upgrade in the medium term, reflecting improved creditworthiness and financial stability.
Key Highlights
Long-term rating outlook revised to 'Positive' from 'Stable' with 'CRISIL AA-' reaffirmed.
Short-term rating reaffirmed at 'CRISIL A1+', indicating strong liquidity and low credit risk.
Total bank loan facilities enhanced by 25% to Rs. 500 crore from Rs. 400 crore.
Ratings cover facilities across major lenders including State Bank of India, HDFC Bank, and HSBC.
👀 What to Watch
The outlook revision to 'Positive' is a bullish signal indicating a potential credit rating upgrade, which could lead to lower borrowing costs. Investors should maintain a positive stance as this reflects the company's strengthening financial profile.
Poly Medicure Appoints Indranil Mukherjee as CEO for Asia Pacific and India Business
Poly Medicure Limited has appointed Mr. Indranil Mukherjee as the Chief Executive Officer for its Asia Pacific and India Business, effective June 1, 2026. Mr. Mukherjee is a seasoned medical technology executive with over 30 years of experience, including leadership roles at B. Braun and Translumina Therapeutics. He has a proven track record of managing large-scale operations, including three manufacturing plants and a workforce of over 2,000 employees. This strategic hire is expected to strengthen the company's market position and drive growth in its core geographic segments.
Key Highlights
Mr. Indranil Mukherjee appointed as CEO - Asia Pacific and India Business effective June 1, 2026.
Brings over 30 years of leadership experience in medical technology, covering critical care, infusion therapy, and renal care.
Previously served as Managing Director at B. Braun Group in India, overseeing 3 manufacturing plants and 2,000+ colleagues.
Extensive global experience including roles in Germany and Malaysia, with expertise in M&A and organizational restructuring.
👀 What to Watch
The appointment of a highly experienced industry veteran is a positive signal for the company's growth strategy in the Asia Pacific region. Investors should watch for potential improvements in operational efficiency and market expansion under his leadership.
Poly Medicure FY26 Consolidated Revenue Up 12.3% to ₹1,875 Cr; Guides ₹2,400 Cr for FY27
Poly Medicure reported a consolidated revenue growth of 12.3% for FY26, reaching ₹1,875 crores, with a strong 20% growth in the domestic business. The company is undergoing a strategic transition toward high-margin, high-technology segments like Cardiology and Renal, which now contribute 50% of total revenue. Management has provided robust guidance for FY27, targeting consolidated revenue of ₹2,300-₹2,400 crores, supported by the integration of acquisitions in Europe and Brazil. While raw material costs and logistics pose headwinds, the company maintains a strong cash reserve of ₹842 crores for future growth.
Key Highlights
FY26 consolidated revenue grew 12.3% YoY to ₹1,875 crores, with Q4 revenue rising 21% to ₹534 crores.
High-technology segments now account for 50% of revenue, up from 43% in the previous year.
Management guided for FY27 consolidated revenue of ₹2,300-₹2,400 crores, implying ~25% growth.
Standalone EBITDA margin for FY26 stood at 26.8%, hitting the upper end of the 25-27% guidance range.
Company completed acquisitions of PendraCare, Citieffe, and Medyneo (Brazil) to expand global footprint.
👀 What to Watch
Investors should focus on the company's successful shift into high-margin medical devices and the integration of its recent international acquisitions. Monitor the impact of crude-linked raw material costs on gross margins in the upcoming quarters.
Poly Medicure Recommends Rs 3.50 Dividend; FY26 Consolidated Revenue Up 12% to Rs 1,534 Cr
Poly Medicure's Board has recommended a final dividend of Rs 3.50 per share (70% of face value) for FY 2025-26, subject to shareholder approval. The company reported a 12% year-on-year growth in consolidated revenue from operations, reaching Rs 1,534.28 crore for the full year. However, consolidated net profit for FY26 saw a marginal decline to Rs 322.14 crore compared to Rs 338.56 crore in FY25. The board also approved the re-appointment of PwC as internal auditors for the next fiscal year.
Key Highlights
Recommended a final dividend of Rs 3.50 per equity share of face value Rs 5 for FY 2025-26
Consolidated annual revenue from operations grew 12% YoY to Rs 1,534.28 crore
Consolidated Net Profit for FY26 stood at Rs 322.14 crore versus Rs 338.56 crore in FY25
Q4 FY26 consolidated revenue rose to Rs 420.97 crore from Rs 365.56 crore in the previous year's quarter
Re-appointed PricewaterhouseCoopers Services LLP and Oswal Sunil & Co. as internal auditors for FY 2026-27
👀 What to Watch
Investors should maintain a hold position for steady dividend yields while monitoring the slight contraction in annual net profit despite healthy revenue growth. The margin pressure observed in the full-year results should be evaluated against the company's expansion and operational costs.
Poly Medicure FY26 Revenue Grows 20% to ₹1,715 Cr; Declares ₹3.5 Dividend
Poly Medicure reported a robust 20% year-on-year growth in consolidated revenue for FY26, reaching ₹1,715.13 crore. However, consolidated net profit for the full year saw a decline of 5.3%, falling to ₹320.73 crore from ₹338.56 crore in the previous fiscal. The company maintained its dividend payout, recommending ₹3.5 per equity share for FY26. While top-line growth remains strong, the bottom-line was impacted by higher total expenses, which rose to ₹1,24,868.12 lacs on a standalone basis for the year.
Key Highlights
Consolidated Revenue from Operations for FY26 increased 20% YoY to ₹1,715.13 crore.
Consolidated Net Profit for FY26 declined by 5.3% to ₹320.73 crore compared to FY25.
Board recommended a final dividend of ₹3.5 per equity share (70% of face value of ₹5).
Standalone Q4 FY26 Net Profit stood at ₹81.25 crore, a decrease from ₹86.66 crore in Q4 FY25.
Total Consolidated Assets grew significantly to ₹3,918.57 crore as of March 31, 2026, from ₹3,192.45 crore YoY.
👀 What to Watch
Investors should monitor the company's ability to manage rising operational costs as profit margins have contracted despite strong revenue growth. The steady dividend and significant asset expansion suggest long-term capacity building, but short-term bottom-line pressure warrants a cautious watch.
Poly Medicure Acquires 100% Stake in Brazil's MEDYNEO for R$ 180,000
Poly Medicure's Brazilian subsidiary has acquired 100% equity in MEDYNEO COMERCIO DE PRODUTOS PARA SAUDE LTDA for a cash consideration of R$ 180,000. While MEDYNEO is a newly registered entity with no prior operations or turnover, it holds essential licenses and permits for the importation and commercialization of medical devices in Brazil. This acquisition serves as a strategic entry point, allowing Poly Medicure to bypass regulatory delays and immediately begin distribution activities in the Brazilian market. The transaction was completed on April 29, 2026, making MEDYNEO a step-down subsidiary of the company.
Key Highlights
Acquisition of 100% equity stake in MEDYNEO by Polymed Brazil LTDA for R$ 180,000 (approx. ₹30 Lakhs).
Target entity provides immediate access to necessary operating licenses for medical device distribution in Brazil.
MEDYNEO is a clean entity with no past activities, operations, employees, or liabilities.
The acquisition was completed and operational control taken over effective April 29, 2026.
Strategic move to expand the company's international footprint in the Latin American medical device market.
👀 What to Watch
Investors should view this as a low-cost, high-utility strategic move to accelerate growth in the Brazilian market. Monitor the company's upcoming quarterly reports for updates on revenue contributions from the Brazilian geography.
Poly Medicure 9M FY26 Revenue Up 9.1% to ₹1,341 Cr; Domestic Sales Grow 17.6%
Poly Medicure reported a 9.1% YoY increase in consolidated revenue to ₹1,340.7 crore for 9M FY26, driven by strong domestic growth of 17.6%. While Gross Profit margins improved to 68.8%, Operating EBITDA margins contracted slightly to 25.8% due to higher employee and acquisition-related expenses. The company is aggressively expanding into high-growth areas like Cardiology and Orthopaedics through recent acquisitions of Pendracare and Citieffe. With 15 manufacturing plants and a pipeline of 100+ products, the company aims to maintain its leadership as India's largest medical device exporter.
Key Highlights
Consolidated 9M FY26 revenue reached ₹1,340.7 crore, a 9.1% increase over the previous year.
Domestic revenue showed robust growth of 17.6%, while international revenue grew by 5.8%.
Gross Profit margin improved by 192 bps to 68.8%, though EBITDA margin dipped to 25.8%.
Strategic expansion into Cardiology and Orthopaedics via acquisitions of Pendracare (Netherlands) and Citieffe (Italy).
Manufacturing capacity stands at 1.8 billion+ devices per year across 15 global plants.
👀 What to Watch
Investors should monitor the integration of recent European acquisitions and the ramp-up of the new Haridwar and upcoming Palwal plants. The shift towards high-complexity segments like Cardiology and Orthopaedics suggests potential for long-term margin expansion.
Poly Medicure Reports Zero Deviation in Utilization of Rs 1,000 Crore QIP Proceeds
Poly Medicure Limited has confirmed that there are no deviations in the utilization of the Rs 99,999.98 lakh raised through its August 2024 QIP. As of December 31, 2025, the company has utilized Rs 47,431.17 lakh of the total net proceeds. Notably, the company has fully utilized the Rs 25,026.84 lakh allocated for inorganic initiatives, while the majority of the capital expenditure for manufacturing facilities (Rs 46,446.30 lakh) remains unspent.
Key Highlights
Total funds raised via QIP in August 2024 amounted to Rs 99,999.98 lakh at an issue price of Rs 1,880 per share.
Inorganic growth initiatives allocation of Rs 25,026.84 lakh has been 100% utilized as of December 31, 2025.
Capital expenditure for manufacturing facilities shows slow deployment with only Rs 3,526.86 lakh spent out of Rs 49,973.16 lakh allocated.
Actual issue expenses were Rs 1,465.61 lakh, which was lower than the estimated Rs 1,500 lakh, with the surplus moved to General Corporate Purposes.
Total unutilized funds remaining in the monitoring account stand at approximately Rs 51,103 lakh.
👀 What to Watch
Investors should track the timeline for the remaining Rs 464 crore capex deployment, as this will drive future capacity and revenue growth. The full utilization of inorganic funds indicates that the company has already committed capital toward strategic acquisitions or partnerships.
Poly Medicure Q3 FY26: Revenue Up 16.4% to ₹494 Cr; Strategic Shift to High-Tech MedTech
Poly Medicure reported a 16.4% YoY revenue growth in Q3 FY26, reaching ₹494 crores, with gross margins expanding by 300 bps to 68.4%. The company is successfully transitioning from low-tech products to high-complexity segments like cardiology and orthopedics, bolstered by the acquisitions of PendraCare and Citieffe. Domestic private market growth remains strong at 22.5%, while the company is deliberately reducing lower-margin government business. With ₹840 crores in liquidity, management expects H2 FY26 revenue to be 20% higher than H1.
Key Highlights
Consolidated Q3 revenue grew 16.4% YoY to ₹494 crores with a strong gross margin of 68.4%.
Received DCGI approvals for high-end IVL and DEB products with ASPs exceeding ₹1,15,000.
Completed acquisitions of PendraCare and Citieffe, expanding footprint in European and US markets.
Domestic private business grew 22.5% YoY, while government business was reduced by 18% to improve margins.
Maintains strong liquidity of ₹840 crores to fund future organic and inorganic growth strategies.
👀 What to Watch
Investors should favor the company's strategic pivot toward high-margin, high-complexity medical devices which creates higher entry barriers. Monitor the integration of European acquisitions and the scaling of the US business as key catalysts for future growth.
Poly Medicure Q3 FY26 Revenue Up 16.4% to ₹493.7 Cr; PAT Dips 16.9% on One-time Costs
Poly Medicure reported a 16.4% YoY growth in consolidated revenue to ₹493.7 Cr for Q3 FY26, driven by strong performance in European markets and the 'Others' segment. However, PAT declined by 16.9% YoY to ₹70.8 Cr, primarily due to ₹6.5 Cr in acquisition-related expenses and a ₹6.8 Cr one-time provision for the Revised Labour Code. The quarter saw the consolidation of PendraCare and Citieffe groups, which contributed to a 25.7% surge in European revenue. While operating EBITDA margins contracted to 24.2%, the 9M FY26 margin of 25.8% remains within the management's guidance range.
Key Highlights
Consolidated Revenue grew 16.4% YoY to ₹493.7 Cr, with Domestic revenue increasing 16.2%.
PAT fell 16.9% YoY to ₹70.8 Cr, impacted by ₹13.3 Cr in combined one-time acquisition and labor code expenses.
European revenue surged 25.7% YoY to ₹162.2 Cr following the integration of PendraCare and Citieffe.
Received DCGI regulatory approvals for Intravenous Lithotripsy System (IVL) and Drug Eluting Balloon (DEB).
Maintained a strong balance sheet with cash and equivalents of ₹839.8 Cr and 9M FY26 capex of ₹234 Cr.
👀 What to Watch
Investors should look past the one-time acquisition costs and focus on the successful integration of European subsidiaries and the rollout of high-value products like IVL. Monitor if EBITDA margins return to the 26-27% range in the coming quarters as synergies materialize.
Poly Medicure Q3 Consolidated PAT at ₹91.55 Cr; Grants 2,000 ESOPs
Poly Medicure reported a consolidated total income of ₹452.51 crore for Q3 FY26, showing steady performance. The company's Net Profit for the quarter stood at ₹91.55 crore, despite a one-time exceptional provision of ₹6.80 crore related to new Labour Code requirements. The company is actively integrating its recent acquisitions of Pendracare and Citieffe Group, which are now reflected in the consolidated financials. Additionally, the board approved 2,000 new stock options and provided an update on the utilization of the ₹1,000 crore QIP proceeds.
Key Highlights
Consolidated Total Income for Q3 FY26 reached ₹452.51 crore, up from ₹442.89 crore in the preceding quarter.
Consolidated Net Profit for the quarter was ₹91.55 crore with a Diluted EPS of ₹9.06.
Recognized an exceptional item of ₹680.40 lacs (₹6.80 crore) as provision for past service costs under new Labour Codes.
Utilized ₹250.26 crore of QIP proceeds for inorganic initiatives and ₹35.26 crore for capital expenditure.
Maintains a strong liquidity position with ₹510.99 crore of QIP funds still invested in liquid mutual funds and FDs.
👀 What to Watch
Investors should focus on the successful integration of the European acquisitions which are expected to drive future growth. The significant unutilized QIP capital suggests further expansion or inorganic opportunities are likely in the near term.
Poly Medicure Q3 Consolidated PAT up 7.7% YoY to ₹91.8 Cr; Completes Swiss Acquisition
Poly Medicure Limited reported a strong 36% YoY growth in consolidated revenue to ₹448.41 crore for Q3 FY26. Net profit grew by 7.7% YoY to ₹91.80 crore, impacted slightly by a one-time exceptional charge of ₹6.80 crore related to new labour code provisions. The company successfully completed the acquisition of Swiss-based Medistream SA (Citieffe group) for ₹248 crore, marking a significant step in its international expansion. Furthermore, the company continues to deploy its ₹1,000 crore QIP proceeds, with over ₹250 crore already spent on inorganic growth initiatives.
Key Highlights
Consolidated Revenue from operations increased 36% YoY to ₹448.41 crore from ₹329.29 crore.
Net Profit for the quarter stood at ₹91.80 crore, up from ₹85.23 crore in the corresponding quarter last year.
Completed 100% acquisition of Medistream SA, Switzerland, for a total acquisition cost of ₹248.01 crore.
Recognized an exceptional item of ₹6.80 crore as provision for past service costs under the new Labour Codes.
Utilized ₹250.27 crore of QIP proceeds for inorganic initiatives and ₹35.27 crore for capital expenditure as of Dec 31, 2025.
👀 What to Watch
Investors should view the strong revenue growth and strategic European acquisitions as long-term value drivers. Monitor the integration of the Swiss and Dutch entities for margin improvements in upcoming quarters.
Poly Medicure Q3 Consolidated PAT Rises 30% YoY to ₹91.8 Cr; Major European Acquisitions Completed
Poly Medicure reported a strong year-on-year performance for Q3 FY26, with consolidated total income reaching ₹448.41 crore compared to ₹329.67 crore in the previous year. Net profit for the quarter stood at ₹91.80 crore, up from ₹70.81 crore YoY, despite a one-time exceptional charge of ₹6.80 crore for Labour Code provisions. The company is executing an aggressive inorganic growth strategy, completing the acquisition of Medistream SA (Citieffe group) for ₹248 crore and Pendracare group. With over ₹510 crore in QIP proceeds still unutilized, the company remains well-positioned for further expansion.
Key Highlights
Consolidated Total Income grew 36% YoY to ₹448.41 crore in Q3 FY26.
Net Profit (PAT) increased to ₹91.80 crore from ₹70.81 crore in the same quarter last year.
Completed 100% acquisition of Medistream SA (Citieffe group) for a total cost of ₹248.01 crore.
Recognized an exceptional expense of ₹6.80 crore due to the notification of new Labour Codes.
Unutilized QIP proceeds of ₹510.99 crore remain available for future inorganic initiatives.
👀 What to Watch
Investors should take note of the robust YoY growth and the company's successful deployment of capital into high-value European medical device acquisitions. The stock remains a strong watch as the company integrates these new businesses and utilizes its remaining cash reserves for further growth.
