Poly Medicure Ltd.
POLYMEDHealthcare filings
We hold this company’s filings and have not read the financial statements out of them yet. Every filing on record is listed under filings, and each one opens.
Earnings calls
12 transcript(s)/analyst meet(s) served; 4 document(s) on file are not transcripts (cover letters, duplicates, unresolved) and are excluded. Speaker attribution is shown only where the segmenter attributes ≥ 95% of sentences to management or analysts (0 of 12 documents here); elsewhere sentences render unattributed.
| Kind | Date | Period | Served | Attribution rate |
|---|---|---|---|---|
| ANALYST_MEET | 20230816 | 2023-06-30 | yes | |
| ANALYST_MEET | 20231110 | 2023-09-30 | yes | |
| ANALYST_MEET | 20241106 | 2023-09-30 | yes | |
| ANALYST_MEET | 20240209 | 2023-12-31 | yes | |
| ANALYST_MEET | 20240524 | 2024-03-31 | yes | |
| ANALYST_MEET | 20240731 | 2024-06-30 | yes | |
| DUPLICATE | 20240731 | 2024-06-30 | no | |
| DUPLICATE | 20241106 | 2024-09-30 | no | |
| ANALYST_MEET | 20251114 | 2024-09-30 | yes | |
| TRANSCRIPT | 20250210 | 2024-12-31 | yes | |
| ANALYST_MEET | 20250513 | 2025-03-31 | yes | |
| ANALYST_MEET | 20250814 | 2025-06-30 | yes | |
| TRANSCRIPT | 20250909 | 2025-06-30 | yes | |
| TRANSCRIPT | 20251001 | 2025-09-30 | yes | |
| DUPLICATE | 20251114 | 2025-09-30 | no | |
| ANALYST_MEET | 20260211 | 2025-12-31 | yes | |
| ANALYST_MEET | 20260529 | 2026-03-31 | yes | |
| DUPLICATE | 20260529 | 2026-03-31 | no | |
| ANALYST_MEET | 20260814 | 2026-06-30 | yes |
POLYMED
files the standard Schedule III statements. Every figure below opens to the filing it was read from; where a figure is not shown, the reason is printed in its place.
Identity
| Statement division | general |
| Scope served | consolidated |
| Panels on this page | 4 |
Market
No split, bonus or consolidation is on record for this company inside the period this price series covers, so the closes need no adjustment.
| Last close | 1,716.00 |
| 52-week range | 1191.1 – 2063.4 |
| Return 1M | -0.91% |
| Return 3M | 3.99% |
| Return 1Y | -13.47% |
| Return 3Y | 24.47% |
| Return 5Y | 79.52% |
| Market capitalisation | not shown — we could not confirm it |
| Shares outstanding | not shown — we could not confirm it |
| P/E | not shown — we could not confirm it |
| P/B | not shown — we could not confirm it |
| EV/EBITDA | not shown — we could not confirm it |
Latest quarter filed — period ending 2026-06-30
In INR crore except per-share figures. `period_id` is the period the filing names for the number; the date beside each cell is when it was filed.
| Revenue from operations | 525.00 |
| Other income | 33.00 |
| Total income | 559.00 |
| Cost of materials consumed | 184.00 |
| Purchases of stock-in-trade | 3.00 |
| Changes in inventories | -47.00 |
| Employee benefit expense | 127.00 |
| Finance costs | 7.00 |
Ownership — 2026-06-30, and the change from 2026-03-31
| Holder | Per cent | Change |
|---|---|---|
| promoter and promoter group | 0.62 | 0.00 |
| institutions foreign | 0.06 | -0.00 |
| institutions domestic | 0.16 | 0.00 |
| mutual funds | 0.10 | 0.01 |
| public | 0.38 | 0.00 |
Documents on file
| Class | Most recent | On file |
|---|---|---|
| ANALYST_MEET | 2026-06-30 | 12 |
| DUPLICATE | 2026-03-31 | 4 |
| TRANSCRIPT | 2025-09-30 | 3 |
Financial statements
Filed results, consolidated, in INR crore except per-share figures. Every figure opens to the filing it was read from. Quarterly and annual columns are the periods the filing itself names, never a document date.
Quarterly results, as filed
| Line | 2022-09-30 | 2022-12-31 | 2023-03-31 | 2023-06-30 | 2023-09-30 | 2023-12-31 | 2024-03-31 | 2024-06-30 | 2024-09-30 | 2024-12-31 | 2025-03-31 | 2025-06-30 | 2025-09-30 | 2025-12-31 | 2026-03-31 | 2026-06-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue from operations | 275.00 | 285.00 | 307.00 | 321.00 | 337.00 | 340.00 | 378.00 | 385.00 | 420.00 | 424.00 | 441.00 | 403.00 | 444.00 | 494.00 | 535.00 | 525.00 |
| Other income | 9.00 | 14.00 | 8.00 | 13.00 | 14.00 | 17.00 | 15.00 | 17.00 | 26.00 | 22.00 | 24.00 | 42.00 | 34.00 | 26.00 | 18.00 | 33.00 |
| Total income | 283.00 | 299.00 | 315.00 | 334.00 | 351.00 | 356.00 | 393.00 | 402.00 | 446.00 | 446.00 | 465.00 | 445.00 | 478.00 | 520.00 | 552.00 | 559.00 |
| Cost of materials consumed | 109.00 | 109.00 | 109.00 | 105.00 | 114.00 | 119.00 | 127.00 | 133.00 | 155.00 | 142.00 | 142.00 | 141.00 | 157.00 | 146.00 | 155.00 | 184.00 |
| Purchases of stock-in-trade | 1.00 | 0.00 | 1.00 | 2.00 | 3.00 | 1.00 | 1.00 | 1.00 | 1.00 | 3.00 | 3.00 | 1.00 | 1.00 | 2.00 | 1.00 | 3.00 |
| Changes in inventories | -4.00 | -7.00 | -5.00 | 5.00 | 4.00 | -2.00 | 3.00 | -5.00 | -24.00 | 1.00 | 3.00 | -15.00 | -23.00 | 8.00 | 22.00 | -47.00 |
| Employee benefit expense | 50.00 | 53.00 | 54.00 | 58.00 | 58.00 | 60.00 | 69.00 | 71.00 | 78.00 | 78.00 | 79.00 | 75.00 | 89.00 | 115.00 | 126.00 | 127.00 |
| Finance costs | 0.00 | 5.00 | 2.00 | 2.00 | 2.00 | 3.00 | 3.00 | 3.00 | 3.00 | 3.00 | 2.00 | 3.00 | 3.00 | 6.00 | 6.00 | 7.00 |
| Depreciation and amortisation | 14.00 | 14.00 | 15.00 | 16.00 | 16.00 | 16.00 | 16.00 | 20.00 | 21.00 | 22.00 | 21.00 | 23.00 | 25.00 | 29.00 | 38.00 | 36.00 |
| Other expenses | 54.00 | 58.00 | 65.00 | 64.00 | 74.00 | 71.00 | 81.00 | 82.00 | 94.00 | 85.00 | 95.00 | 95.00 | 105.00 | 112.00 | 120.00 | 134.00 |
| Total expenses | 225.00 | 233.00 | 241.00 | 252.00 | 271.00 | 269.00 | 301.00 | 304.00 | 329.00 | 335.00 | 345.00 | 323.00 | 357.00 | 417.00 | 469.00 | 443.00 |
| Profit before exceptional items and tax | 59.00 | 66.00 | 75.00 | 82.00 | 80.00 | 87.00 | 92.00 | 98.00 | 117.00 | 112.00 | 121.00 | 122.00 | 121.00 | 103.00 | 84.00 | 116.00 |
| Exceptional items | 0.00 | 0.00 | 0.00 | 1.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | -7.00 | 0.00 | 0.00 |
| Profit before tax | 59.00 | 66.00 | 75.00 | 83.00 | 80.00 | 87.00 | 92.00 | 98.00 | 117.00 | 112.00 | 121.00 | 122.00 | 121.00 | 96.00 | 84.00 | 116.00 |
| Current tax | 14.00 | 17.00 | 19.00 | 20.00 | 17.00 | 20.00 | 20.00 | 23.00 | 25.00 | 24.00 | 24.00 | 22.00 | 27.00 | 26.00 | 25.00 | 28.00 |
| Deferred tax | 1.00 | 0.00 | -2.00 | 1.00 | 2.00 | 3.00 | 4.00 | 2.00 | 5.00 | 4.00 | 7.00 | 8.00 | 2.00 | 0.00 | -5.00 | 4.00 |
| Tax expense | 16.00 | 17.00 | 16.00 | 20.00 | 19.00 | 23.00 | 24.00 | 24.00 | 31.00 | 28.00 | 31.00 | 30.00 | 30.00 | 27.00 | 20.00 | 32.00 |
| Profit for the period | 43.00 | 50.00 | 59.00 | 63.00 | 62.00 | 65.00 | 68.00 | 74.00 | 87.00 | 85.00 | 92.00 | 93.00 | 92.00 | 71.00 | 65.00 | 85.00 |
| Profit attributable to owners | 43.00 | 50.00 | 59.00 | 63.00 | 62.00 | 65.00 | 68.00 | 74.00 | 87.00 | 85.00 | 92.00 | 93.00 | 92.00 | 71.00 | 66.00 | 86.00 |
| Profit attributable to non-controlling interests | 0.00 | 0.00 | 0.00 | — | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | -0.00 | -0.00 | -1.00 | -1.00 |
| Other comprehensive income | -0.00 | -0.00 | -0.00 | -0.00 | -1.00 | 0.00 | -0.00 | -1.00 | 0.00 | -0.00 | 0.00 | -1.00 | -0.00 | 23.00 | 25.00 | -0.00 |
| Total comprehensive income | 43.00 | 50.00 | 58.00 | 62.00 | 61.00 | 65.00 | 68.00 | 73.00 | 88.00 | 85.00 | 92.00 | 92.00 | 92.00 | 93.00 | 90.00 | 85.00 |
| Earnings per share, basic | 4.53 | 5.21 | 6.13 | 6.54 | 6.48 | 6.78 | 7.12 | 7.71 | 9.01 | 8.48 | 8.92 | 9.19 | 9.06 | 7.00 | 6.54 | 8.49 |
| Earnings per share, diluted | 4.53 | 5.20 | 6.13 | 6.53 | 6.47 | 6.77 | 7.12 | 7.71 | 9.01 | 8.48 | 8.92 | 9.17 | 9.06 | 6.99 | 6.53 | 8.48 |
Annual results, as filed
| Line | 2020-03-31 | 2021-03-31 | 2022-03-31 | 2023-03-31 | 2024-03-31 | 2025-03-31 | 2026-03-31 |
|---|---|---|---|---|---|---|---|
| Revenue from operations | 687.00 | 786.00 | 923.00 | 1,115.00 | 1,376.00 | 1,670.00 | 1,875.00 |
| Other income | 18.00 | 18.00 | 38.00 | 36.00 | 59.00 | 89.00 | 120.00 |
| Total income | 706.00 | 805.00 | 961.00 | 1,151.00 | 1,435.00 | 1,759.00 | 1,995.00 |
| Cost of materials consumed | 225.00 | 267.00 | 352.00 | 424.00 | 465.00 | 571.00 | 599.00 |
| Purchases of stock-in-trade | 1.00 | 3.00 | 11.00 | 5.00 | 7.00 | 8.00 | 5.00 |
| Changes in inventories | -9.00 | -8.00 | -15.00 | -24.00 | 11.00 | -25.00 | -8.00 |
| Employee benefit expense | 139.00 | 142.00 | 164.00 | 203.00 | 246.00 | 302.00 | 402.00 |
| Finance costs | 18.00 | 9.00 | 4.00 | 9.00 | 11.00 | 12.00 | 18.00 |
| Depreciation and amortisation | 41.00 | 48.00 | 54.00 | 57.00 | 64.00 | 83.00 | 116.00 |
| Other expenses | 167.00 | 168.00 | 198.00 | 241.00 | 289.00 | 361.00 | 434.00 |
| Total expenses | 582.00 | 628.00 | 768.00 | 916.00 | 1,093.00 | 1,312.00 | 1,567.00 |
| Profit before exceptional items and tax | 124.00 | 177.00 | 193.00 | 236.00 | 342.00 | 447.00 | 429.00 |
| Exceptional items | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | -7.00 |
| Profit before tax | 124.00 | 177.00 | 193.00 | 236.00 | 342.00 | 447.00 | 422.00 |
| Current tax | 34.00 | 44.00 | 46.00 | 59.00 | 77.00 | 96.00 | 101.00 |
| Deferred tax | -4.00 | -0.00 | 3.00 | -1.00 | 9.00 | 18.00 | 5.00 |
| Tax expense | 30.00 | 44.00 | 49.00 | 58.00 | 86.00 | 114.00 | 107.00 |
| Profit for the period | 96.00 | 136.00 | 147.00 | 179.00 | 258.00 | 339.00 | 321.00 |
| Profit attributable to owners | 0.00 | — | — | 179.00 | 258.00 | 339.00 | 322.00 |
| Profit attributable to non-controlling interests | 0.00 | — | — | 0.00 | 0.00 | 0.00 | -1.00 |
| Other comprehensive income | 0.00 | 0.00 | 0.00 | 0.00 | -1.00 | -1.00 | 46.00 |
| Total comprehensive income | 96.00 | 136.00 | 147.00 | 180.00 | 257.00 | 337.00 | 367.00 |
| Earnings per share, basic | 10.86 | 15.25 | 15.28 | 18.69 | 26.92 | 34.13 | 31.79 |
| Earnings per share, diluted | 10.86 | 15.24 | 15.27 | 18.67 | 26.90 | 34.11 | 31.75 |
Balance sheet, as filed
| Line | 2022-09-30 | 2023-03-31 | 2023-09-30 | 2024-03-31 | 2024-09-30 | 2025-03-31 | 2025-09-30 | 2026-03-31 |
|---|---|---|---|---|---|---|---|---|
| Total assets | 1,448.00 | 1,577.00 | 1,697.00 | 1,859.00 | 3,052.00 | 3,192.00 | 3,587.00 | 3,919.00 |
| Non-current assets | 665.00 | 770.00 | 885.00 | 1,017.00 | 1,128.00 | 1,275.00 | 1,640.00 | 1,977.00 |
| Current assets | 783.00 | 807.00 | 812.00 | 842.00 | 1,924.00 | 1,917.00 | 1,947.00 | 1,942.00 |
| Property, plant and equipment | 450.00 | 587.00 | 647.00 | 819.00 | 914.00 | 1,038.00 | 1,152.00 | 1,255.00 |
| Capital work-in-progress | 89.00 | 73.00 | 96.00 | 67.00 | 62.00 | 90.00 | 83.00 | 91.00 |
| Goodwill | 29.00 | 29.00 | 29.00 | 29.00 | 29.00 | 29.00 | 217.00 | 274.00 |
| Other intangible assets | 15.00 | 16.00 | 16.00 | 16.00 | 16.00 | 15.00 | 17.00 | 157.00 |
| Inventories | 196.00 | 209.00 | 213.00 | 221.00 | 270.00 | 286.00 | 347.00 | 434.00 |
| Trade receivables | 216.00 | 235.00 | 252.00 | 270.00 | 328.00 | 350.00 | 426.00 | 531.00 |
| Cash and cash equivalents | 13.00 | 7.00 | 12.00 | 12.00 | 13.00 | 9.00 | 26.00 | 51.00 |
| Total equity and liabilities | 1,448.00 | 1,577.00 | 1,697.00 | 1,859.00 | 3,052.00 | 3,192.00 | 3,587.00 | 3,919.00 |
| Equity | 1,134.00 | 1,242.00 | 1,338.00 | 1,470.00 | 2,591.00 | 2,766.00 | 2,932.00 | 3,149.00 |
| Equity share capital | 48.00 | 48.00 | 48.00 | 48.00 | 51.00 | 51.00 | 51.00 | 51.00 |
| Other equity | 1,087.00 | 1,194.00 | 1,290.00 | 1,422.00 | 2,541.00 | 2,715.00 | 2,868.00 | 3,055.00 |
| Total liabilities | 314.00 | 336.00 | 359.00 | 389.00 | 461.00 | 427.00 | 655.00 | 769.00 |
| Non-current liabilities | 49.00 | 42.00 | 38.00 | 37.00 | 44.00 | 57.00 | 154.00 | 194.00 |
| Current liabilities | 265.00 | 293.00 | 321.00 | 351.00 | 417.00 | 370.00 | 501.00 | 576.00 |
| Borrowings, non-current | 23.00 | 18.00 | 10.00 | 1.00 | 1.00 | 0.00 | 0.00 | 52.00 |
| Borrowings, current | 105.00 | 129.00 | 123.00 | 169.00 | 156.00 | 178.00 | 236.00 | 290.00 |
| Trade payables | 90.00 | 92.00 | 95.00 | 96.00 | 145.00 | 86.00 | 117.00 | 123.00 |
Cash flow, as filed
| Line | 2022-09-30 | 2023-03-31 | 2023-09-30 | 2024-03-31 | 2024-09-30 | 2025-03-31 | 2025-09-30 | 2026-03-31 |
|---|---|---|---|---|---|---|---|---|
| Net cash from operating activities | 77.00 | 191.00 | 125.00 | 266.00 | 112.00 | 241.00 | 89.00 | 241.00 |
| Net cash from investing activities | -51.00 | -179.00 | -103.00 | -241.00 | -1,046.00 | -1,191.00 | -123.00 | -225.00 |
| Net cash from financing activities | 2.00 | -13.00 | -17.00 | -20.00 | 980.00 | 953.00 | 49.00 | 20.00 |
| Purchase of property, plant and equipment | 104.00 | 239.00 | 123.00 | 277.00 | 153.00 | 325.00 | 157.00 | 308.00 |
| Net increase in cash | 29.00 | -1.00 | 5.00 | 5.00 | 46.00 | 3.00 | 15.00 | 37.00 |
| con:CFO.BEFORE_TAX | 100.00 | 249.00 | 160.00 | 340.00 | 158.00 | 330.00 | 133.00 | 342.00 |
| con:INTEREST_RECEIVED.OPERATING | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:INTEREST_PAID.OPERATING | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:DIVIDENDS_RECEIVED.OPERATING | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:TAX_PAID.OPERATING | 23.00 | 58.00 | 35.00 | 74.00 | 46.00 | 89.00 | 44.00 | 102.00 |
| con:CF_OTHER.OPERATING | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:INVESTMENTS_PURCHASED | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:INVESTMENTS_SOLD | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:PPE_DISPOSALS | 0.00 | 0.00 | 1.00 | 2.00 | 1.00 | 1.00 | 0.00 | 3.00 |
| con:CF_INVESTING.SUBSIDIARIES_SOLD | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:CF_INVESTING.SUBSIDIARIES_ACQUIRED | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 419.00 |
| con:CF_INVESTING.JV_SOLD | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:CF_INVESTING.JV_ACQUIRED | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Who owns it
The shareholding pattern filed with the exchange every quarter, as a series. Percentages are of total shares. Each figure names the filing it was read from and the date it was filed.
| Holder | 2023-06-30 | 2023-09-30 | 2023-12-31 | 2024-03-31 | 2024-06-30 | 2024-08-22 | 2024-09-30 | 2024-12-31 | 2025-03-31 | 2025-06-30 | 2025-09-30 | 2025-12-31 | 2026-03-31 | 2026-06-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Promoter and promoter group | 53.31 | 53.16 | 53.16 | 53.15 | 66.03 | 62.56 | 62.56 | 62.44 | 62.44 | 62.44 | 0.62 | 0.62 | 0.62 | 0.62 |
| Domestic institutions | 4.25 | 5.15 | 5.45 | 7.22 | 9.35 | 12.48 | 12.33 | 11.66 | 11.96 | 11.72 | 0.14 | 0.14 | 0.16 | 0.16 |
| Mutual funds | — | — | — | — | — | — | — | — | — | 7.34 | 0.08 | 0.08 | 0.09 | 0.10 |
| Insurance companies | 0.78 | 0.99 | 1.11 | 2.01 | 2.31 | 3.21 | 3.06 | 2.44 | 2.77 | 2.70 | 0.03 | 0.03 | 0.03 | 0.03 |
| Foreign institutions | 15.61 | 14.49 | 14.10 | 12.38 | 9.91 | 11.10 | 11.87 | 12.33 | 11.46 | 11.41 | 0.10 | 0.09 | 0.06 | 0.06 |
| Public | 46.69 | 46.84 | 46.84 | 46.85 | 33.97 | 37.44 | 37.44 | 37.56 | 37.56 | 37.56 | 0.38 | 0.38 | 0.38 | 0.38 |
| Non-institutional | 26.83 | 27.20 | 27.29 | 27.26 | 14.72 | 13.87 | 13.24 | 13.57 | 14.15 | 14.44 | 0.14 | 0.14 | 0.16 | 0.16 |
| Shares outstanding | 95944342 | 95944342 | 95944342 | 95971417 | 95971417 | 101290565 | 101290565 | 101325715 | 101325715 | 101325715 | 101359490 | 101359490 | 101359490 | 101359490 |
Related parties
Transactions with related parties as disclosed to the exchange for the period ending 2024-09-30, by counterparty, largest first. Amounts are as filed. Each row names the filing and the date it was filed.
| Counterparty | Relationship | Type | Amount in the period | Transactions |
|---|---|---|---|---|
| VITROMED HEALTHCARE | Entity with Joint Control or signi | Any other transaction, Purchase of goods or services | 550,203,000.00 | 4 |
| HIMANSHU BAID | Promoters(He is the Managing Direc | Remuneration | 107,506,000.00 | 1 |
| RISHI BAID | Promoters(Joint Managing Director | Remuneration | 104,890,000.00 | 1 |
| ULTRA FOR MEDICAL PRODUCTS, EGYPT | Associates(POLY MEDICURE LIMITED h | Dividend received, Sale of goods or services | 36,203,000.00 | 2 |
| ALESSANDRO BALBONI | Other Related Party(Non executive | Remuneration | 14,158,000.00 | 1 |
| VISHAL BAID | Promoters(He is the Promotor of th | Remuneration | 10,075,000.00 | 1 |
| DHRUV BAID | Promoters group(Son of Himanshu Ba | Remuneration | 6,696,000.00 | 1 |
| JAI CHAND LAL HULASI DEVI BAID CHARITABLE TRUST | Other Related party transaction(Th | Any other transaction | 6,050,000.00 | 1 |
| NARESH VIJAYVERGIYA | Key Managerial Person of Entity an | Remuneration | 5,685,000.00 | 1 |
| AARYAMAN BAID | Promoters group(Son of Himanshu Ba | Remuneration | 5,048,000.00 | 1 |
| ARHAM BAID | Promoters group(Son of Rishi Baid, | Remuneration | 5,048,000.00 | 1 |
| AVINASH CHANDRA | Key Managerial Person of Entity an | Remuneration | 1,122,000.00 | 1 |
| DEVENDRA RAJ MEHTA | Other related party (He is the Ind | Remuneration | 875,000.00 | 1 |
| SONAL MATTOO | Other related party (She is the In | Remuneration | 875,000.00 | 1 |
| JUGAL KISHORE BAID | Promoters(Non Executive & Non | Remuneration | 775,000.00 | 1 |
What management said
Every earnings call we hold for this company, read in full. Prepared remarks are separated from the question-and-answer session and every paragraph names who said it and on which page. These are management’s own words, not filed figures.
| Date | Quarter | Who spoke | |
|---|---|---|---|
| 2026-05-29 | Q4FY26 | MEDICURE LIMITED | Read the call |
| 2026-02-11 | Q3FY26 | MEDICURE LIMITED | Read the call |
| 2025-11-14 | Q2FY26 | MEDICURE LIMITED, POLY MEDICURE LIMITED | Read the call |
| 2025-08-14 | Q1FY26 | LIMITED, MEDICURE LIMITED | Read the call |
| 2025-05-13 | Q4FY25 | LIMITED, MEDICURE LIMITED | Read the call |
| 2025-02-10 | Q3FY25 | -;,IPOLYMED, LIMITED, MEDICURE LIMITED, fl IC/Cl Securities | Read the call |
| 2024-11-06 | Q2FY25 | MEDICURE LIMITED, POLY MEDICURE LIMITED | Read the call |
| 2024-07-31 | Q1FY25 | MEDICURE LIMITED, POLY MEDICURE LIMITED | Read the call |
| 2024-05-24 | Q4FY24 | MEDICURE LIMITED, POLY MEDICURE LIMITED | Read the call |
| 2024-02-09 | Q3FY24 | MEDICURE LIMITED, POLY MEDICURE LIMITED | Read the call |
| 2023-11-10 | Q2FY24 | Read the call | |
| 2023-08-16 | Q1FY24 | MEDICAL, MEDICURE LIMITED, OFFICER, POLY MEDICURE LIMITED, {I ICICI Securities | Read the call |
What they said about it, quarter by quarter
| Topic | Q2FY25 | Q2FY26 | Q3FY24 | Q3FY25 | Q3FY26 | Q4FY24 | Q4FY25 | Q4FY26 |
|---|---|---|---|---|---|---|---|---|
| Capex | And it's mainly the new capex for new plants. | 150 crores was done in H1 and we further informed that CAPEX planned for the current financial year will be over Rs. | In terms of the capex, we have done close to around INR185 crores of capex for the first 9 months. | Poly Medicure Limited February 03, 2025 the CAPEX and the current plans will be complete. | — | All 4 new plants have gone live and now operational in FY '23-'24 so that has added quite a substantial capacity, manufacturing capability and capacit… | And sir, what is our CAPEX plan for next 2 years? | Of course, again, a lot of strategic planning went in last year in terms of acquisitions and capex spend. |
| Capital allocation | So that is one of the reasons that we are looking at some acquisition opportunity. | Strategically, these trials underline our commitment in India and Europe which along with recent acquisition of PendraCare Group positions us for glob… | Sir, the first question is around the acquisition you made in Italy. | And sir, on the acquisition part also, like you had earlier mentioned in previous concall that you are also eyeing an acquisition on majorly in the cr… | And sir, I see the employee cost increasing very sharply, and I assume that is largely because of the acquisition, the recently acquired company becau… | Sir, any ballpark kind of figure or the size of acquisition you have in mind, or you would take as it comes? | 300 crores cash annually as well, has there been some plan on acquisition which is now going ahead and what are the plans for use of this capital? | If you could give us some details on the Brazil acquisition in terms of the categories the target operates in, what is the revenue and what's the acqu… |
| Costs | And also, there was some fluctuation in the raw material prices because a lot of our raw material based on crude oil. | — | And I think manufacturing continues to be on our forte, though we see some disruptions in supply chain due to this Red Sea crises but it's not impacti… | And sir, so as there is no raw material inflation that we are witnessing that? | So the cost pressure will come in on the overall system. | And also, we want to also reduce import dependence of raw materials, so we continue to put more efforts in the indigenization of certain raw materials… | Plus we obviously built out inventory as we have lots of raw materials coming from overseas markets, right. | And of course, there was raw material available. |
| Debt and cash | INR200 crores INR250 crores will be for general corporate purposes to fund the working capital requirements in the next few years, and acquisitions, w… | Could you give some status of the debt currently on the books and the net working capital cycle? | And sir, given the high amount of cash on your balance sheet, I'm assuming must be over INR150 crores plus also a lot of operating cash flows that are… | — | And also, sir, just wanted to know by the end of the 9 months FY '26, what would be our ballpark, if you can help me with the working capital numbers? | And sir, lastly, on the working capital, we have seen some improvement during the year. | And just to answer the question on networking capital, right, I think we have been obviously trying to add market share in the domestic market to grow… | — |
| Demand | And that will also further increase the demand for dialysis products because once they are more single-use products, then the consumption will further… | This solid uptake reflects the effective execution of our strategy and the rising demand of our offerings locally. | We are also adding some new capacity in the transfusion business that will help us to meet some additional demand for exports and for the local market… | So, that will also maybe grow, it will help in growing the demand for this product. | Of course, we have, I think bidded in contracts, we have more than 600 machines already as of now, which are in pipeline. | We've also received first order for some of our products and some new more products in pipeline, which will receive or will go live in like the next 3… | Two questions, first, how do you see the demand in exports especially are coming through during the year and you have MDR certificate for 15 new produ… | And also the existing customers where we had an over inventory situation and we had a little slowdown in demand. |
| Guidance | So for the full year, we maintain our guidance of 20% plus growth for the domestic business. | Despite lower revenue growth, we have been able to improve our gross margin, which has helped us in maintaining operating margins at a higher end of t… | So the company has performed as per the guidance given in the initial part of the year and also during the mid part of the year. | So, as you remember, recall in the earlier part of the year, we had given a guidance of close to 22% to 24%. | So am I missing something or like can you please guide on that part? | And we have now reached the higher side of the guidance we have given. | So if you remember the guidance we had given in the beginning of the year, on a standalone basis, the revenue has increased from Rs. | And on your guidance of 15% to 17% stand-alone growth, could you give us a sense of how would that pan out domestically versus for exports and for the… |
| Margin | But in spite of all these challenges, we were still able to do better compared to the previous year and even do a little bit better margin comparative… | 308 crores, reflecting a margin of 69.4%, an increase of almost 99 bps as compared to quarter 2 last year. | So a significant increase in EBITDA and PAT in terms of absolute numbers. | Also, EBITDA, if you look at percentage EBITDA has increased from 26.5% to 27.4%. | If you remember in the beginning of the year, we had guided for 25% to 27% EBITDA, whereas we were already doing close to 27.5% EBITDA in FY '25. | EBITDA has also increased from INR90 crores to INR113 crores. | 440 crores that is around 16.5% growth over last year and also operating EBITDA for the whole quarter is Rs. | And that helps us to even get a better gross margin in the business. |
| People | October 29, 2024 So I think in that case, we are very careful in heading the headcount versus but again, when we see end of this year, we'll have 500 … | — | So initially initial 1 or 2 years, we started 30%, 40% utilization, and then scales up to around 50%, 60%, 70% as time progresses. | Poly Medicure Limited February 03, 2025 innovation, newer categories, geographies, manufacturing assets and resources, talent hiring, approval cycles,… | Like today, if I was hiring a person for my infusion business, it will cost around INR60,000 to INR70,000 for example, ballpark. | — | So yes, we are hiring 40 more people in the R&D team this year. | And can we also know the utilization rate of the capacities that were expanded after QIP-1? |
| Pricing | If you position in the lower spectrum, then you get lower pricing. | — | — | Okay, and to that extent, but we will be able to take the price hike only equivalent to the WPI rate, right? | So could you also highlight in terms of what is the pricing differential between, let's say, Chinese products versus our products which we are selling… | — | Another thing, just in the Renal segment, with some of the distributor checks and all what we understood that even though we sell dialysis machine at … | So that's the reason those first 2, 3 months, we are not able to feel the heavy impact of raw material price increase. |
| Revenue growth | We are logging a growth of around 35% in the export business in growth in export business in Europe. | 444 crores, marking an overall year-on-year growth of approximately 5.7% and a quarter-on-quarter growth of around 10.1%. | So see, the growth was only 18.5% as compared to 21%, 22% we were targeting. | So, on the growth side, Bharat Bhai, if you see from 2010 to 2020, we had a growth of almost 14% to 15% on a ten year cycle. | Just want an explanation on your stand-alone revenue growth is only 2% and the consolidated revenue growth is 16%. | The revenue, if you compare our financial year '23 to '24, the revenue has increased from INR293 crores to INR360 crores odd, a growth of 23%. | 1,670 crores, a growth of around 21.5% roughly. | But in spite of all that, maybe it happens, doesn't happen, I think we are still targeting a growth of over 20% in Renal. |
What they said they would do
Sentences in which management set an expectation. Each names the speaker and the page of the transcript it came from.
| Date | Quarter | Who | What they said |
|---|---|---|---|
| 2023-08-16 | Q1FY24 | MEDICAL | I think we expect to maintain EBITDA margin in the range of 25% to 27% for the rest of the year. |
| 2023-08-16 | Q1FY24 | MEDICAL | Guidance for revenue continues to be 20%-plus for FY24. We have seen a robust growth of 28% in the first quarter. |
| 2023-08-16 | Q1FY24 | MEDICAL | The renal segment has grown by around 22% in Q1 and we expect to end the year of approximately 25% to 30% growth rate. |
| 2023-08-16 | Q1FY24 | MEDICAL | But we expect that we will have some headwinds in the sector but still grow between 25% and 30%, it is still a decent goal. |
| 2023-08-16 | Q1FY24 | MEDICAL | For US business, we are maintaining a guidance of $15 to $20 million revenue for next three to four years. |
| 2024-02-09 | Q3FY24 | POLY MEDICURE LIMITED | For FY-25, we feel that we will start with the guidance of 20% plus and see maybe during the end of first quarter, beginning of second quarter, after assessing the real situation, we will be able to give you the right picture. |
| 2024-02-09 | Q3FY24 | POLY MEDICURE LIMITED | But I think so far, with the current momentum, we see that we should be able to grow 20% over also in the next fiscal year. |
| 2024-05-24 | Q4FY24 | POLY MEDICURE LIMITED | So again, we are guiding for revenue increase of around 22% to 24% in the current financial year. |
| 2024-05-24 | Q4FY24 | POLY MEDICURE LIMITED | And this year, definitely, we are guiding for almost 50% increase in renal business. |
| 2024-11-06 | Q2FY25 | POLY MEDICURE LIMITED | So for the full year, we maintain our guidance of 20% plus growth for the domestic business. |
| 2024-11-06 | Q2FY25 | POLY MEDICURE LIMITED | When we look at the U.S. business, I think this year we expect to clock anything between USD2 million to USD3 million revenue. |
| 2024-11-06 | Q2FY25 | POLY MEDICURE LIMITED | And then we may still maintain our guidance of USD15 million to USD20 million over 3 years, 4 years as we have been saying earlier. |