Poly Medicure Ltd Q3 FY25 Results & Concall Highlights: Revenue, Margins & Order Book

Published 7 Aug 2026 | Healthcare Equipment & Supplies | Market Cap: ₹17.3K Cr

Poly Medicure aims for a sustained growth rate of 20%+ annually, seen consistently over the past 3-4 years. - Infusion therapy (70% revenue) and renal products (8-9% revenue) to drive growth with renal showing 56% growth recently. - Domestic business targeting over 20% growth, improving from a low start. - Exports grew around 28-30%; emphasis on US and Europe with expected regulatory approvals driving future gains. - Dialysis business expanding with standalone and daycare centers boosting demand; target 20-25% market share in renal by 2030. - Planned CAPEX of Rs. Poly Medicure targets a sustained revenue growth of around 20%+ annually over the next 3-5 years, building on the recent 20%-plus growth trajectory. - EBITDA margins are expected to improve by approximately 50-100 basis points per year, driven by operational efficiencies and scale benefits. - Introduction of higher-margin businesses like oncology and critical care is anticipated to contribute positively to margin expansion. - The company has recently added 60+ sales and marketing personnel in new verticals, expecting ramp-up over 2-3 years to enhance revenue. - CAPEX cycle includes ongoing and planned investments (~Rs.

From Poly Medicure Ltd's Q3 FY25 earnings-call transcript · updated 23 Aug 2026.

Price

₹1,719

Market Cap

₹17.3K Cr

P/E Ratio

52.9

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Poly Medicure Ltd — Quarterly revenue & net profit

Revenue Net Profit

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Reported quarterly figures (₹ Cr). Latest: revenue ₹535 Cr, net profit ₹65 Cr.

Full financials →

📊 Revenue & Sales Performance

→Poly Medicure aims for a sustained growth rate of 20%+ annually, seen consistently over the past 3-4 years.
→Infusion therapy (70% revenue) and renal products (8-9% revenue) to drive growth with renal showing 56% growth recently.
→Domestic business targeting over 20% growth, improving from a low start.
→Exports grew around 28-30%; emphasis on US and Europe with expected regulatory approvals driving future gains.
→Dialysis business expanding with standalone and daycare centers boosting demand; target 20-25% market share in renal by 2030.
→Planned CAPEX of Rs. 400-500 crores over 18-20 months for new plants to support capacity expansion.
→Addition of 50 new product SKUs in 1-2 years across cardiology, critical care, vascular, and renal categories.
→Continuous sales team expansion, with 100 new hires planned yearly for next 3-4 years to deepen market penetration.

📈 Profitability & Margins

→Poly Medicure targets a sustained revenue growth of around 20%+ annually over the next 3-5 years, building on the recent 20%-plus growth trajectory.
→EBITDA margins are expected to improve by approximately 50-100 basis points per year, driven by operational efficiencies and scale benefits.
→Introduction of higher-margin businesses like oncology and critical care is anticipated to contribute positively to margin expansion.
→The company has recently added 60+ sales and marketing personnel in new verticals, expecting ramp-up over 2-3 years to enhance revenue.
→CAPEX cycle includes ongoing and planned investments (~Rs. 400-500 crores) in new plants to support future growth.
→Profitability (PAT) growth is expected to align with revenue and margin improvements, supported by steady operational leverage.
→Overall, future profits/EPS growth appear sustainable and predictable, with a healthy outlook backed by product innovation, capacity expansion, and domestic/international market growth.

🏗️ Capital Expenditure Plans

→Current CAPEX: Rs. 222 crores invested in 9 months FY25; plan for Rs. 300 crores total this year.
→This CAPEX primarily for existing plants, funded through internal accruals, not QIP proceeds.
→Future CAPEX: Rs. 400-500 crores planned over next 18-20 months for three new plants under construction in Palwal, Haryana.
→These new plants expected to be commissioned by mid-2026.
→All QIP proceeds (Rs. 500 crores) will be utilized for new CAPEX related to these new plants.
→Strategic investments include a JV with AMPIN for 9.9 MW solar power to run manufacturing on green energy by late 2024/early 2025.
→Focus on launching ~50 new product SKUs over 1-2 years, including oncology, critical care, vascular, and renal categories.
→Exploration of potential acquisition targets in critical care, oncology, or cardiology sectors, with announcements pending if any materialize.

💰 Fundraising & Capital Structure

- The company has completed a QIP (Qualified Institutional Placement) and the proceeds are being designated primarily for new CAPEX and acquisitions. - Rs. 500 crores of QIP proceeds are earmarked for new CAPEX, specifically for building three new plants expected to be ready in 18 to 20 months. - Current CAPEX of around Rs. 222 crores done over 9 months this year was funded through internal accruals, not QIP. - No specific mention of any new future fundraising plans through debt or further equity beyond the QIP at this stage. - The company is open to announcing acquisitions if targets are identified, potentially funded from QIP proceeds. Summary: Poly Medicure is utilizing existing QIP funds for expansion with no stated immediate plans for additional debt or equity fundraising.

📋 Order Book & Pipeline

The transcript does not provide specific details regarding the current or expected order book or pending orders for Poly Medicure Limited. However, the following related information is available: - The company is actively expanding with new plants under construction, expected to be operational in 18 to 20 months. - Focus is on expanding domestic market presence by hiring more sales and marketing staff, aiming to increase wallet share in more hospitals. - The company expects export growth of over 20% in key geographies like the US and Europe. - New product launches (about 50 products within 1-2 years) and entry into new verticals such as oncology and critical care are expected to drive future order flow. - Dialysis equipment business is growing with a run rate of 40-50 machines sold per month. - No explicit mention or figures related to order book or pending orders were disclosed in the provided transcript.

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Poly Medicure Ltd currently shows a neutral. The stock trades at a P/E of 52.9 with a market cap of ₹17,317 Cr. Investors should review the full earnings analysis for detailed insights.

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Current CAPEX: Rs.

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This analysis is AI-generated based on publicly available earnings data and concall transcripts. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.