Poly Medicure Limited reported mixed financial results for the first quarter of FY26, with consolidated revenue surging 25.6% year-on-year while net profit declined 8.4%. The company’s standalone performance showed marginal growth, indicating that the divergence in top-line and bottom-line figures is primarily driven by its subsidiaries. The results were announced on August 10, 2026, following board approval on August 7, 2026.

Consolidated revenue from operations jumped to ₹55,878.45 lakh in Q1FY26, compared to ₹44,490.16 lakh in Q1FY25. Despite this significant top-line expansion, consolidated net profit after tax fell to ₹8,527.43 lakh from ₹9,308.29 lakh in the corresponding period last year. Standalone revenue grew more modestly by 8.1% to ₹45,974.91 lakh, with standalone net profit rising slightly by 0.2% to ₹8,812.33 lakh.

Financial Performance Highlights

The disparity between the robust revenue growth and declining consolidated profits suggests increased operational costs or lower margins in the subsidiary segments during the quarter. Standalone earnings per share (EPS) remained stable at ₹8.69, up from ₹8.68 in Q1FY25. However, consolidated diluted EPS dropped to ₹8.48 from ₹9.17 in the previous year’s quarter.

What the Numbers Show

The data reveals a clear divergence between the parent company and the group’s overall performance. While Poly Medicure’s standalone operations maintained profitability with steady EPS, the consolidated decline in profit despite a 25.6% revenue surge indicates that the subsidiaries contributed disproportionately to costs or faced margin compression. The pre-tax profit before exceptional items for the consolidated entity was ₹11,730.57 lakh, down from ₹12,294.63 lakh in Q1FY25, confirming that the profit drop is not due to tax variations but operational factors within the group structure.

The unaudited results were reviewed by the Audit Committee and approved by the Board of Directors. Statutory auditors have limited reviewed the financial statements. The full format results are available on the stock exchange websites and the company’s investor relations page.

Poly Medicure Limited reported a 30.3% year-on-year surge in consolidated revenue from operations to ₹525.4 Cr in Q1FY27, driven by strong international sales and new segment contributions. However, consolidated net profit declined 8.4% to ₹85.3 Cr from ₹93.1 Cr in Q1FY26, as higher employee benefit expenses and acquisition-related costs compressed margins. The Board of Directors approved the unaudited financial results on August 7, 2026.

The filing, compliant with Regulation 30 and 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, also disclosed the grant of 1,476 stock options under the Employee Stock Option Scheme 2020 and the allotment of 1,975 equity shares following option exercises. Additionally, the Board re-appointed M/s Jai Prakash & Company as Cost Auditors for FY27 and noted the resignation of Ravi Prakash, Deputy Company Secretary and Compliance Officer, effective August 10, 2026.

Financial Performance

Consolidated revenue from operations rose to ₹525.4 Cr in Q1FY27, compared to ₹403.2 Cr in the same period last year. Standalone revenue grew 12.3% to ₹431.1 Cr from ₹384.0 Cr. The company's total income stood at ₹558.8 Cr (consolidated), with other income contributing ₹33.4 Cr. The following table summarises key consolidated financial metrics for the quarter:

Note: Standalone PAT increased 0.2% to ₹88.1 Cr from ₹87.9 Cr in Q1FY26.

Operational Updates

The company assumed control over Himalayan Mineral Waters Private Limited during the quarter, consolidating its financials after the National Company Law Tribunal approved the resolution plan. Polymed Brazil LTDA acquired 100% equity in Medyneo Comercio De Produtos Para Saude LTDA for ₹34.08 lacs. The paid-up equity capital increased to ₹50,68,07,325 following ESOP allotments. International sales grew 36.7% YoY to ₹376.1 Cr, though organic growth was lower at 10.4% due to acquisitions. Europe saw a 43.8% surge in revenue to ₹187.3 Cr.

What the Numbers Show

While consolidated net profit declined on a YoY basis, the core operational strength is evident in the 30.3% revenue jump. The EBITDA margin compression from 26.7% to 24.1% reflects the impact of higher employee benefit expenses, which grew 70.6% to ₹126.9 Cr (consolidated) from ₹74.4 Cr, indicating strategic hiring or wage adjustments that are yet to fully translate into proportional bottom-line gains for the group structure. Standalone profit after tax remained resilient at ₹88.1 Cr, up from ₹87.9 Cr in Q1FY26, underscoring the strength of the core domestic business. The cardiology segment saw explosive growth of 897% to ₹28.6 Cr, led by the PendraCare acquisition.