Poly Medicure Limited · NSE:POLYMED
Poly Medicure — Q4 FY26 Earnings Presentation
43 slides from Poly Medicure's earnings presentation, May 25, 2026
Slide 1: Submission of Revised Investor's Presentation
Poly Medicure Limited "; ’ ‘ POLYMED Regd. Office: 232 B, 3rd Floor, Okhla Industrial Estate, Phase-III, New Delhi - 110 020 (INDIA) T:491-11- 33550700, 47317000 E: info@polymedicure.com W: polymedicure.com CIN: L 40300DL1995PLC066923 Date: 25t May, 2026 Scrip Code: - 531768 Scrip Code:- POLYMED The
Slide 2: Investor Presentation Q4 & FY26 Results
Investor Presentation Poly Medicure Ltd. Q4 & FY26 Results 25th May 2026
Slide 3: Disclaimer
Disclaimer This presentation has been prepared by Poly Medicure Limited (the "Company"), content of which was compiled from sources believed to be reliable for informational purposes only and are based on information regarding the Company and the economic, regulatory, market and other conditions as
Slide 4: Q4 and FY Performance Summary and Key Updates
Q4 and FY 26 Performance Summary and Key Updates
Slide 5: Standalone Performance Summary Q4 FY26 & 12M FY26
Standalone Performance Summary Q4 FY26 & 12M FY26 Figs in Rs. Crs unless specified Margin,% Revenue Gross Profit Operating EBITDA1 65.8% 66.6% 66.8% 68.1% 27.6% 27.3% 27.8% 26.8% 443.0 295.2 121.1 1,662.5 1,132.0 446.1 1,070.0 445.9 277.1 421.0 116.2 1,601.8 Q4 FY25 Q4 FY26 FY25 FY26 Q4 FY25 Q4 FY26
Slide 6: Consolidated Performance Summary Q4 FY26 & 12M FY26
Consolidated Performance Summary Q4 FY26 & 12M FY26 Figs in Rs. Crs unless specified Acquisition Impact Margin,% Revenue Gross Profit Operating EBITDA1 66.3% 66.7% 66.7% 68.1% 27.6% 21.0% 27.5% 24.4% 534.5 1,875.3 1,278.4 356.3 458.6 440.8 292.7 1,114.4 121.9 65.1 115.3 457.7 1,669.8 469.4 112.1 1,7
Slide 7: FY 26: Improving Sequential Revenue Trajectory
FY 26: Improving Sequential Revenue Trajectory Figs in Rs. Crs unless specified Standalone Revenue Consolidated Revenue 1 33% 15% H2= 1,029 535 H1= 847 494 443 444 403 417 419 384 Q1 FY 26 Q2 FY 26 Q3 FY 26 Q4 FY 26 Q1 FY 26 Q2 FY 26 Q3 FY 26 Q4 FY 26 H1 to H2 revenue growth of 21% in-line with the
Slide 8: Key Updates
Key Updates • As of 30th April’26, cumulative stent deployments surpassed ~11K units; commercial sales of DEB initiated with positive clinician feedback Key Business • Successfully achieved sales of 450 dialysis machines during FY26; total installed base of ~1000 machines Updates • PACIFIER- (DES -
Slide 9: Financial Performance Analysis
Financial Performance Analysis
Slide 10: Standalone Financial Performance Summary
Standalone Financial Performance Summary Figs in Rs. Cr. unless specified Particulars Q4 FY 26 Q4 FY 25 YoY Growth % FY 26 FY 25 YoY Growth % Revenue from Operations 443.0 421.0 5.2% 1,662.5 1,601.8 3.8% Cost of Good Sold 147.9 143.9 2.7% 530.5 531.8 (0.2%) Gross Profit 295.2 277.1 6.5% 1,132.0 1,07
Slide 11: Consolidated Financial Performance Summary
Consolidated Financial Performance Summary Figs in Rs. Cr. unless specified Particulars Q4 FY 26 Q4 FY 25 YoY Growth % FY 26 FY 25 YoY Growth % Revenue from Operations 534.5 440.8 21.3% 1,875.3 1,669.8 12.3% Cost of Good Sold 178.2 148.1 20.3% 596.8 555.4 7.4% Gross Profit 356.3 292.7 21.8% 1,278.4
Slide 12: Consolidated Sales Performance Analysis
Consolidated Sales Performance Analysis Figs in Rs. Crs unless specified YoY Growth YoY Growth Particulars Q4 FY 26 Q4 FY 25 FY 26 FY 25 % % Domestic 168.7 135.0 25.0% 581.7 486.3 19.6% International 361.9 303.0 19.4% 1,280.2 1,170.9 9.3% Other Operating Revenue 3.8 2.8 35.3% 13.3 12.6 6.1% Total Op
Slide 13: Segment Wise Sales Performance Analysis
Segment Wise Sales Performance Analysis Figs in Rs. Crs unless specified YoY Growth YoY Growth Particulars Q4 FY 26 Q4 FY 25 FY 26 FY 25 % % Infusion Therapy 256.1 251.4 1.9% 997.3 1,012.4 -1.5% Renal 56.2 46.4 21.3% 187.6 150.7 24.5% Others 222.1 143.1 55.2% 690.4 506.7 36.3% Total Operating Revenu
Slide 14: Balance Sheet Summary
Balance Sheet Summary Figs in Rs. Crs unless specified Standalone Consolidated As at March 31, As at Mar 31, As at March 31, Particulars As at Mar 31, 2026 Trade Working Capital- Standalone 2025 2026 2025 Particulars FY 26 FY 25 Total Shareholders Funds 3,052.7 2,744.2 3,149.2 2,765.7 Debtors 442.2
Slide 15: Cash Flow Summary
Cash Flow Summary* Figs in Rs. Crs unless specified Standalone Consolidated Particulars FY26 FY26 Operating EBITDA 446.1 457.7 Extraordinary Item (6.8) (6.8) Acquisition Related Expense (9.7) Other operating income and non cash expense 42.8 56.2 Tax Paid (96.4) (101.7) Operating Cash Flow before WC
Slide 16: Standalone ROIC
Standalone ROIC Figs in Rs. Cr. unless specified Particulars As at Mar 31, 2026 As at Mar 31, 2025 • Given high capex and investment phase for Polymed, evaluating business Total Equity 3,052.7 2,744.2 performance on balance sheet level Total Borrowings 248.4 169.9 ROCE may not be relevant due to lar
Slide 17: Shareholding Pattern as on 31st Mar 2026
Shareholding Pattern as on 31st Mar 2026 Bodies Corporate, 2.51% Individual, 13.46% Any Other, 0.16% AIF, 3.42% Insurance Companies, 3.34% FPIs, 5.91% Promoters, 62.40% Mutual Funds, 8.80% 16
Slide 18: Company Overview
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Slide 19: Polymed Group: A Unique Medical Devices Platform
Polymed Group : A Unique Medical Devices Platform 13 225+ Specialities Medical Devices 15 125+ Manufacturing Plants Across 5 countries Countries 3300+ 570+ Employee Base Sales Associates 390+ 1000+ Distributors across Patents Granted India & Globally 1.8 Billion+ Largest Exporter Devices Manufacturi
Slide 20: Polymed Flywheel
Polymed Flywheel In-House Product R&D Clinical Engagement • 390+ patents; 35 new products launches 60+ clinical experts; 4,000+ annual • ~90 R&D professionals in India and customer engagement programs Europe globally Distribution Network Tooling , Automation, rapid • 1000+ distributors globally prot
Slide 21: Navigating Our Journey
Navigating Our Journey Polymed’s Path of Milestones and Triumphs 20
Slide 22: Moving Up the Technology Curve & Increasing TAM in High Growth Areas
Moving Up the Technology Curve & Increasing TAM in High Growth Areas Infusion Therapy (1997) 10% Global Leadership, 3rd largest IV cannula Size of the bubble reflects relative global industry size manufacturer globally 9% 8% Renal Care (2018) First Indian company to indigenously 7% manufacture dialy
Slide 23: Driving Value through Strategic Acquisitions
Driving Value through Strategic Acquisitions Founded in 2011, Located in Leek Founded in 1962, Located in Bologna, Italy Founded in 1995, Located in Amaro, Italy Netherlands EN ISO 13485:2003 certified ISO 9001, ISO 13485 and FDA certified ISO 13485 and FDA certified Products Compliant with EU MDR a
Slide 24: Our Innovations Deliver Care to Key Clinical Specialties
Our Innovations Deliver Care to Key Clinical Specialties Cardiology Anaesthesia & Respiratory Care Transfusion System Oncology Vascular Access Infusion Therapy Gastroenterology Diagnostics Urology Dialysis & Renal Care Orthopedics Surgery & Wound Drainage Critical Care 23
Slide 25: Awards & Accolades
Awards & Accolades Himanshu Baid, MD, Poly Himanshu Baid, MD, Poly Medicure Medical Devices Provider of Innovative Health Technology Medicure, Healthcare Icon/Leader Healthcare Entrepreneur of the the Year 2025 by Financial Express Provider of the Year by ET of the Year 2025 by ET Healthcare Year 20
Slide 26: Levers of Value Creation
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Slide 27: Polymed - One Company Many Engines of Growth
Polymed- One Company Many Engines of Growth Strong Management Large TAM & Governance framework US$ 650bn global Medtech Experienced leadership and market growing ~5%; India board driving strong market growing ~13% governance Robust Financial Strong Manufacturing performance Capabilities 19% revenue
Slide 28: Global MedTech Scenario - APAC Growing the Fastest
Financial Large TAM Manufacturing Innovation Distribution Management Performance Global MedTech Scenario - APAC Growing the Fastest $ 680 bn ~20% ~2% 2025F Market Size APAC as % of global medical India as % of global devices market medical devices market ~4% ~9% CAGR 880+ CAGR ~6% 758 CAGR 7% 682 9%
Slide 29: India MedTech - Sunrise Sector Unveiling Enormous Growth Opportunities
Financial Large TAM Manufacturing Innovation Distribution Management Performance India MedTech - Sunrise Sector Unveiling Enormous Growth Opportunities India is the 4th Largest Market in Asia Key themes accelerating India's MedTech growth India MedTech Market Size (in USD) towards 2030 ambition • Ev
Slide 30: Polymed's Manufacturing Footprint
Financial Large TAM Manufacturing Innovation Distribution Management Performance Polymed's Manufacturing Footprint 15 Facilities across 5 countries India Manufacturing Facilities International Manufacturing Facilities 104-105, Faridabad, India 115-116, Faridabad, India Haridwar Plant 1, India Amaro,
Slide 31: Company Driven by Innovation (R&D)
Financial Large TAM Manufacturing Innovation Distribution Management Performance Company Driven by Innovation (R&D) New Product Launches 35 35 Core Development Capabilities Product design, process design, mold design, 17 19 automation and machine design 14 Team Strength FY 2022 FY 2023 FY 2024 FY 20
Slide 32: Touching Millions Of Lives Every Day Across 125+ Countries
Financial Large TAM Manufacturing Innovation Distribution Management Performance Touching Millions Of Lives Every Day Across 125+ Countries 1000+ Global distributors including India and 570+ sales associate Countries with Direct Presence 31
Slide 33: Robust Financial Performance Delivering Strong TSR
Financial Large TAM Manufacturing Innovation Distribution Management Performance Robust Financial Performance Delivering Strong TSR# Amount in INR Cr. Revenue Operating EBITDA PAT Op, EBITDA Margin PAT Margin 1,875 500 400 1,670 350 1,376 400 300 1,115 250 300 200 459 458 339 200 150 321 361 258 267
Slide 34: Diversified Segment and Geographic Mix
Financial Large TAM Manufacturing Innovation Distribution Management Performance Diversified Segment and Geographic Mix PORTFOLIO MIX Segmental Revenue Mix Numbers in INR crore unless specified Others Particulars FY 23 FY 24 FY 25 FY26 CAGR (23-26) 37% Infusion Infusion Therapy 771 925 1,012 997 9%
Slide 35: Strong Promoters and Experienced Leadership Team
Financial Large TAM Manufacturing Innovation Distribution Management Performance Strong Promoters and Experienced Leadership Team B Also a board member of Poly Medicure Ltd Promoters Experienced Leadership Team Mr. Himanshu Baid Mr. Alessandro Balboni Mr. Pascal Govi (Managing Director) (Non-Executi
Slide 36: Robust Governance Framework
Financial Large TAM Manufacturing Innovation Distribution Management Performance Robust Governance Framework Non-Executive Board Mr. Devendra Raj Mehta Mr. Vishal Gupta (Chairman, Non-Executive Non-Independent Director) (Non-Executive Independent Director) A seasoned IAS officer and former Chairman
Slide 37: Way Forward
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Slide 38: Polymed strategy shaped by Macro trends in the MedTech Industry
Polymed strategy shaped by Macro trends in the MedTech Industry High Prevalence of Non-Communicable diseases 1 Expanding into renal, critical care, orthopedics, and cardiology segments through greater investment in technology and product development Greater R&D Investments 2 R&D expense, which i
Slide 39: International Strategy – US
International Strategy – US Entity Polymed Citieffe Pendracare P1H Presence 4 distributors Direct Presence Guiding catheter NA approved; In talks with distributors and # Regulatory 4 approved; 10 approved; 8- global OEM; sales expected to start in 1 approved for OEM Approvals 3-4 in pipeline 10 in p
Slide 40: International Strategy – Europe
International Strategy – Europe Entity Polymed Citieffe Pendracare P1H Presence Direct presence in 17 distributors + 2 75+ distributors 20+ distributors Italy + 12 Distributors OEM relationship # Regulatory 82 approved; Whole Portfolio (20+); 2 approved; 3 Whole Portfolio (4 Approvals 15 in pipeline
Slide 41: India Growth Strategy
India Growth Strategy Substituting imports with high quality Made in India products Import Proven capabilities in Infusion Therapy & Vascular Access Focused Therapy Areas Substitution Infusion · Renal · Cardiology · Critical Care Replicating success across Renal, Cardiology and Critical Care Gre
Slide 42: Towards our Commitment to a Sustainable World
Towards our Commitment to a Sustainable World Approx. 70% facilities are certified under Achieved approximately 8% reduction in ISO 14001:2015 Scope 2 emissions compared to FY 24-25 ENVIRONMENTAL through increased utilization of onsite MANAGEMENT SYSTEM solar and renewable energy PPA, despite commis
Slide 43: Thank You
Thank You For any investor related queries reach us at: Apoorv.Rastogi@polymedicure.com 42