Poly Medicure reported a 12.3% increase in consolidated revenue to ₹1,995.3 crore for the financial year ended March 31, 2026, while net profit declined 5.3% to ₹320.7 crore. The company recorded an exceptional item of ₹6.80 lakh related to the impact of new Labour Codes. The Board of Directors recommended a dividend of ₹3.5 per share. Looking ahead, the company targets FY27 revenue of ₹2,300 crore.

Financial Performance

For the financial year 2025-26, consolidated revenue from operations rose to ₹1,995.3 crore, compared to ₹1,758.9 crore in the previous year. On a quarterly basis, revenue for the fourth quarter ended March 31, 2026, was ₹552.3 crore, up from ₹465.1 crore in the same quarter of the prior year. The company reported a consolidated net profit of ₹320.7 crore for the full year, a decrease from ₹338.6 crore in the previous year. For the fourth quarter, the net profit was ₹65.0 crore, a decline from ₹91.8 crore in the corresponding quarter of the previous year.

The following table summarizes the key financial metrics for the year and quarter ended March 31, 2026:

Operational Metrics and Margins

The consolidated operating EBITDA margin for FY26 stood at 24.4%, while the standalone operating EBITDA margin was 26.8%, near the upper end of the company's 25-27% guidance range. Gross profit margin expanded by 130 basis points in FY26 to 68.1%, led by an improving product mix and cost optimization initiatives. The company maintained adequate liquidity with cash and cash equivalents of ₹842.2 crore as of March 31, 2026, and incurred a capital expenditure of ₹296 crore during the year.

Segment and Geographic Performance

Infusion therapy remained the largest segment, contributing ₹1,012.4 crore to revenue, while the 'Others' segment, which includes critical care and cardiology, saw significant growth of 36.3% to ₹506.7 crore. Geographically, revenue from India grew 19.6% to ₹581.7 crore, Europe grew 7.1% to ₹597.0 crore, and the Rest of the World grew 11.4% to ₹683.2 crore.

Revenue Outlook

Poly Medicure expects its FY27 revenue to reach ₹2,300 crore, compared to ₹1,900 crore in FY26. The following table outlines the company's revenue guidance:

Dividend Declaration

The Board of Directors has recommended a dividend of ₹3.5 per equity share, which constitutes 70% of the face value of ₹5 each, for the financial year 2025-26. This dividend is subject to the approval of shareholders at the Annual General Meeting.

Corporate Developments

During the year, the Group completed the acquisition of 90% economic rights in the Pendracare Group and 100% economic rights in Medistream SA, Switzerland. The company also received approval from the National Company Law Tribunal (NCLT) for a resolution plan regarding Himalayan Mineral Water Private Limited, involving a payment of ₹33.16 crore. Additionally, the company acquired Medyneo, a Brazil-based medical device company, to commercialize operations in the region.

Poly Medicure Limited has granted 17,500 stock options to eligible employees under its Employee Stock Option Scheme 2020. The grant was approved by the company's Nomination and Remuneration Committee during a meeting held on May 23, 2026.

The options have been issued at a price of INR 100 per share, which represents a discounted price relative to the latest available closing price on the stock exchange as of the grant date. Each option entitles the holder to convert it into one equity share of the company, subject to the terms of the scheme.

Vesting and Exercise Terms

The options are subject to a vesting schedule that prohibits vesting for a period of one year from the date of the grant. Upon the expiry of this one-year period, the vesting of options will occur over a maximum term of four years as per the scheme's provisions.

Once vested, the options must be exercised within a period of three months from the relevant vesting date. The Nomination and Remuneration Committee retains the authority to extend this period in exceptional circumstances. If not exercised within the stipulated time, the options will lapse.

Scheme Details

The scheme is administered by the Nomination and Remuneration Committee and is compliant with the SEBI (Share Based Employee Benefits) Regulations, 2021. The eligibility criteria for the grant of options are outlined in the scheme documents.

The grant of these options is intended to align the interests of employees with those of the shareholders and to incentivize long-term performance within the organization.