Poly Medicure Limited , a leading medical device manufacturer, has announced a revision in its revenue growth forecast for the fiscal year 2026 (FY26). The company has lowered its target from the previously projected 20% to a more conservative range of 15-16%.

Revised Growth Expectations

The company has adjusted its growth expectations downward by approximately 4-5 percentage points. This revision reflects a more cautious outlook on the part of Poly Medicure's management regarding the company's future performance.

Financial Performance

While the revised forecast indicates a moderation in growth expectations, it's important to note that Poly Medicure continues to show strong financial performance. According to the company's recent financial results:

These figures demonstrate that despite the revised growth forecast, Poly Medicure maintains a robust financial position.

Market Implications

The revision in growth targets may lead to a reassessment of the company's valuation by market analysts and investors. However, it's crucial to consider that a 15-16% growth rate still represents significant expansion in the competitive medical device industry.

Company's Perspective

While Poly Medicure has not provided specific reasons for the revised forecast in the available information, such adjustments are often made in response to changing market conditions, competitive landscapes, or internal factors affecting growth projections.

Investor Communication

In line with its commitment to transparency, Poly Medicure held an Earnings Conference Call on November 10, 2025, to discuss its financial results for the quarter ended September 30, 2025. The audio recording of this call has been made available on the company's website, allowing investors and analysts to gain further insights into the company's performance and future outlook.

As the medical device industry continues to evolve, Poly Medicure's revised growth target reflects a pragmatic approach to future planning. Investors and stakeholders will likely be watching closely to see how the company executes its strategies to achieve this new target in the coming fiscal year.

Poly Medicure Limited , a leading medical devices manufacturer, has announced its financial results for the second quarter, showcasing modest growth in both revenue and profitability.

Financial Highlights

The company reported a consolidated net profit of ₹918.30 million for Q2, representing a 5% increase from ₹874.50 million in the same period last year. This growth in profitability comes alongside a 5.7% year-over-year increase in revenue, which rose to ₹4.44 billion from ₹4.20 billion.

Key Performance Metrics

While Poly Medicure maintained its EBITDA at ₹1.15 billion, the EBITDA margin saw a decline of 158 basis points, dropping to 25.84% from 27.42% in the previous year. This suggests that while the company has managed to grow its top line and bottom line, it has faced some pressure on operational efficiency.

Management Commentary

The company's board of directors reviewed and approved these unaudited consolidated financial results at their meeting. The results have also undergone a limited review by the statutory auditors, who expressed an unmodified review report on both standalone and consolidated financial statements.

Business Developments

During the quarter, Poly Medicure made significant strides in expanding its global footprint:

1. The company acquired a 90% economic interest in the Pendra Care Group through its subsidiary, RISOR Holding BV. This acquisition includes Pendra Care Holdings BV and Welling Medical BV, potentially enhancing Poly Medicure's presence in the European market.

2. Poly Medicure has been approved as a resolution applicant for Himalayan Mineral Water Private Limited by the National Company Law Tribunal (NCLT) of Allahabad. The company has deposited ₹3,316 million for this acquisition, which is pending final formalities.

3. The company continued its employee stock option scheme, allotting 33,775 equity shares at a face value of ₹5 each, with an exercise price of ₹100 per share.

Market Segment and Future Outlook

Poly Medicure continues to operate primarily in the medical devices segment, which remains its sole reportable segment. The company's strategic acquisitions and expansions suggest a focus on strengthening its position in both domestic and international markets.

While the company has shown resilience with growth in revenue and profit, the slight decline in EBITDA margin may warrant attention in the coming quarters. Investors and stakeholders will likely be watching how Poly Medicure leverages its recent acquisitions to drive future growth and operational efficiencies.

The unaudited results for the quarter and half-year are available on the company's website ( www.polymedicure.com ) and on the stock exchange websites ( www.nseindia.com and www.bseindia.com ) for further details.