Q1-FY26 · Himanshu Shah
We are recalibrating for the US market. We said we'll not be overdependent on one market like Europe. And now we have opened a subsidiary in Brazil for our direct presence.
POLYMED / language trends
Read confidence between the lines.
Poly Medicure · tone and specificity signals across the available quarters.
Research layer active
Language signals
What changed in management language.
tracked
Q1-FY26 · Himanshu Shah
The signs were there in the last quarter already. See brother always you have to recalibrate. So our recalibration was focus more on India. That was our first recalibration.
Q1-FY26 · Himanshu Shah
We are on track and I think even in the coming quarters you will see the improvement. I'm very sure and definitely we will commit only what we can do. We will not commit something higher and say we didn't do it.
Q2-FY26 · Himanshu
We remain cautiously optimistic for H2 of the current financial year. While our international operations did face tougher backdrop this year especially across Europe which continues to show slightly growth 9.6% YoY basis in Q2 FI26 but sequentially business grows around 5% if you look around on quarter-to-quarter performance, we are seeing improvement in customer sentiment.
Q2-FY26 · Rahul Gautam
Our margins in H1 are in excess of 26%. So we are at the upper end of the guidance that we had given and we are maintaining our margin guidance of between 25 to 27% and hoping that we will still remain at the higher end of the guidance.
Q2-FY26 · Himanshu
India still is out of flavor for most of the US companies. Still most of the people have gone to Vietnam, Thailand, Malaysia or Indonesia. So we are still out of that flavor because of tariff and current regulatory issues which were brought in very late in India.
Q3-FY26 · Himanshu Sharma
If I need to compete with China, I have to be 10% cheaper than China, if I have to break that market. Now that is not happening because China's volume numbers are very different than India. So how do we win the market? We have to reorient ourselves toward clinical side of the business.
Q3-FY26 · Himanshu Sharma
We are moving from selling a product of ₹15 to selling a product of ₹1.5 lakh. So we need a lot of skill sets, and that's what we are doing right now.
Q3-FY26 · Himanshu Sharma
None of the industries have survived in India when they have zero duty with Chinese manufacturing. Today on iPhones we have 20% duty, even cars have 100% duty. So I think fundamentally, government will have to take corrective steps.
Q4-FY26 · Himanshu Sharma
FY27 will be when initiatives we have undertaken drive synergies across the group and continue investments in higher and high-end technology segments.
Q4-FY26 · Himanshu Sharma
We are managing every piece and working on a lot of initiatives inside the organization. Based on where we are today, we may see some erosion on gross margin going from 68% to maybe around 66%, but this is just a present estimation.
Q4-FY26 · Himanshu Sharma
Our focus has been more on the clinical side. We added a lot of people on the clinical team. Now we are doing a lot of global clinical trainings and increased hospital visits internationally, which is helping us mitigate earlier challenges.