Poly Medicure Receives Clean CRISIL Monitoring Report for Q3 FY26 QIP Utilization
CRISIL Ratings confirmed no deviation in Poly Medicure's QIP fund utilization for Q3 FY26, with Rs 47,431.17 lakh deployed from total net proceeds of Rs 98,534.37 lakh. The company completed the Medistream SA acquisition using Rs 18,070.86 lakh from QIP funds and invested remaining proceeds in mutual funds and fixed deposits generating Rs 1,160.09 lakh quarterly returns.
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Poly Medicure Limited has received a clean monitoring report from CRISIL Ratings Limited for its Qualified Institutions Placement (QIP) fund utilization during the quarter ended December 31, 2025. The monitoring agency confirmed no deviation from the stated objects of the issue, with the company successfully deploying Rs 47,431.17 lakh of the total Rs 98,534.37 lakh net proceeds.
QIP Fund Raising Overview
The company raised Rs 99,999.98 lakh through its QIP conducted in August 2024, with key parameters detailed below:
| Parameter: | Details |
|---|---|
| Number of Shares Allotted: | 53,19,148 equity shares |
| Face Value: | Rs 5.00 per share |
| Issue Price: | Rs 1,880.00 per share |
| Premium: | Rs 1,875.00 per share |
| Issue Period: | August 19-22, 2024 |
| Net Proceeds: | Rs 98,534.37 lakh |
CRISIL Monitoring Report Highlights
CRISIL Ratings Limited, serving as the monitoring agency under SEBI regulations, issued its report dated February 12, 2026, confirming compliance with all regulatory requirements. The monitoring agency found no material deviations from the objects stated in the placement document and verified that all fund utilizations align with the original disclosures.
Quarterly Fund Utilization Breakdown
The company's fund deployment across three primary objectives shows systematic progress:
| Object: | Allocated Amount (Rs Lakh) | Utilized till Q3 (Rs Lakh) | Unutilized Balance (Rs Lakh) |
|---|---|---|---|
| Manufacturing Facilities Setup: | 49,973.16 | 3,526.86 | 46,446.30 |
| Inorganic Initiatives: | 25,026.84 | 25,026.84 | 0.00 |
| General Corporate Purposes: | 23,534.37 | 18,877.46 | 4,656.91 |
| Total: | 98,534.37 | 47,431.17 | 51,103.20 |
Major Acquisition Completed
During the quarter, the company completed a significant acquisition through its wholly-owned subsidiary Poly Medicure B.V. The acquisition of Medistream SA Group, consisting of CitiEFFE SRL Italy and its subsidiaries CitiEFFE Inc USA and CitiEFFE De Mexico, was completed for approximately Rs 24,070.56 lakh. Of this amount, Rs 18,070.86 lakh was funded from QIP proceeds while Rs 5,999.70 lakh came from internal accruals.
Unutilized Proceeds Investment
The remaining Rs 51,103.20 lakh of unutilized proceeds have been prudently invested to generate returns:
| Investment Type: | Amount Invested (Rs Lakh) | Market Value (Rs Lakh) | Quarterly Earnings (Rs Lakh) |
|---|---|---|---|
| Mutual Funds: | 50,299.24 | 54,969.59 | 1,143.77 |
| Fixed Deposits: | 800.00 | 846.84 | 16.32 |
| Monitoring Account Balance: | 3.96 | 3.96 | 0.00 |
| Total: | 51,103.20 | 55,820.39 | 1,160.09 |
Regulatory Compliance
The company filed its compliance statement under Regulation 32 of SEBI Listing Regulations on February 13, 2026. Both the Audit Committee and statutory auditors M/s Doogar & Associates provided no adverse comments on the fund utilization pattern. Company Secretary Avinash Chandra and CFO Natesh Vijayvergiya signed the compliance documents, ensuring adherence to all regulatory requirements.
Historical Stock Returns for Poly Medicure
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -2.07% | -14.20% | -26.42% | -32.95% | -41.86% | +117.90% |
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