BSECompany Update3d ago · 7 Nov 2026, 02:30 pm
Please find enclosed herewith Monitoring Agency Report for the quarter ended September 30, 2026.
Poly Medicure Ltd · 531768
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Poly Medicure Ltd has released a Monitoring Agency Report for the quarter ended September 30, 2026, as per Regulation 173A of the SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018. The report is issued by CRISIL Ratings Limited, the Monitoring Agency appointed to monitor utilization of proceeds of the qualified institutions placement issue.
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Poly Medicure Ltd - 531768 - Announcement under Regulation 30 (LODR)-Monitoring Agency Report
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.,, IPOLYMED
Poly Medicure Limited
Regd. Office: 232 B, 3rd Floor, Okhla Industrial Estate,
Phase-Ill, New Delhi -110 020 (INDIA)
T: +91-11-33550700, 47317000
E: info@polymedicure.com W: polymedicure.com
CIN: L40300DL 1995PLC066923
Date: 07th November, 2026
Scrip Code: - 531768 Scrip Code:- POLYMED
The Manager, The Manager
BSE Limited, National Stock Exchange of India Limited
Department of Corporate Services, Exchange Plaza, Plot No. C/1-Block-G
Phirozee Jeejeebhoy Towers, Sandra Kurla Complex, Bandra(E),
Dalal Street, Mumbai- 400001. Mumbai-400051.
Subject: - Monitoring Agency Report for the quarter ended 30th September, 2026
Dear Sir/ Madam,
Pursuant to Regulation 32 of the SEBl (Listing Obligations and Disclosure Requirements)
Regulations, 2015 read with Regulation 173A of the SEBI (Issue of Capital and Disclosure
Requirements) Regulations, 2018, please find enclosed herewith the Monitoring Agency
Report dated 06th November, 2026, for the quarter ended 30th September 2026, issued by
CRISlL Ratings Limited, the Monitoring Agency appointed to monitor utilization of proceeds
of the qualified institutions placement' issue.
Kindly take the information on record.
Thanking you
For Poly Medicure Limited
A vinash Chandra
Company Secretary
M. No. A32270
Encl. as above
Plants: Plot No.104-105 & 115-116-117, Sector-59, HSIIDC Industrial Area. Ballabgarh, Faridabad -121004, Haryana (INDIA)
Plot No. 33-34, Sector-68, IMT, Faridabad-121004, (Haryana) INDIA T:+91-129-4287000, 3355070
Crisil
Ratings
Monitoring Agency Report
Poly Medicure Limited
for the quarter ended
September 30, 2026
Crisil Ratings Limited
Corporate Identity Number: U67100MH2019PLC326247
Registered Office: Lightbridge IT Park, Saki Vihar Road, Andheri East, Mumbai-400 072. India
Phone: +91 22 6137 3000 I www.crisilratings.com a company of S&P Global
Crisil
Ratings
CRL/MAR/POLML/2026-27/2080
November 06, 2026
Poly Medicure Limited
232B, 3rd Floor, Okhla Industrial Estate,
Phase III New Delhi 110 020, India
Dear Sir,
Monitoring Agency Report for the quarter ended September 30, 2026 - in relation to the Qualified Institutional
Placement (“QIP”) of Poly Medicure Limited (“the Company”)
Pursuant to Regulation 173A of SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018 (“SEBI
ICDR Regulations”) and Monitoring Agency Agreement dated August 17, 2024, enclosed herewith the Monitoring
Agency Report, issued by Crisil Ratings Limited, Monitoring Agency, as per Schedule XI of the SEBI ICDR
Regulations towards utilization of proceeds of QIP for the quarter ended September 30, 2026.
Request you to kindly take the same on records.
Thanking you,
For and on behalf of Crisil Ratings Limited
Shounak Chakravarty
Director, Ratings (LCG)
Crisil Ratings Limited
Corporate Identity Number: U67100MH2019PLC326247
Registered Office: Lightbridge IT Park, Saki Vihar Road, Andheri East, Mumbai-400 072. India
Phone: +91 22 6137 3000 I www.crisilratings.com a company of S&P Global
Crisil
Ratings
Report of the Monitoring Agency (MA)
Name of the issuer: Poly Medicure Limited
For quarter ended: September 30, 2026
Name of the Monitoring Agency: Crisil Ratings Limited
(a) Deviation from the objects: Not applicable
(b) Range of Deviation: Not applicable
Declaration:
We declare that this report provides an objective view of the utilization of the issue proceeds in relation to the objects of the
issue based on the information provided by the Issuer and information obtained from sources believed by it to be accurate and
reliable. The MA does not perform an audit and undertakes no independent verification of any information/ certifications/
statements it receives. This Report is not intended to create any legally binding obligations on the MA which accepts no
responsibility, whatsoever, for loss or damage from the use of the said information. The views and opinions expressed herein do
not constitute the opinion of MA to deal in any security of the Issuer in any manner whatsoever. Nothing mentioned in this
report is intended to or should be construed as creating a fiduciary relationship between the MA and any issuer or between the
agency and any user of this report. The MA and its affiliates also do not act as an expert as defined under Section 2(38) of the
Companies Act, 2013.
The MA or its affiliates may have credit rating or other commercial transactions with the entity to which the report pertains
and may receive separate compensation for its ratings and certain credit-related analyses. We confirm that we do not perceive
any conflict of interest in such relationship/interest while monitoring and reporting the utilization of the issue proceeds by the
issuer.
We have submitted the report herewith in line with the format prescribed by SEBI, capturing our comments, where applicable.
There are certain sections of the report under the title “Comments of the Board of Directors”, that shall be captured by the
Issuer’s Management / Audit Committee of the Board of Directors subsequent to the MA submitting their report to the issuer
and before dissemination of the report through stock exchanges. These sections have not been reviewed by the MA, and the MA
takes no responsibility for such comments of the issuer’s Management/Board.
Signature:
Name and designation of the Authorized Signatory: Shounak Chakravarty
Designation of Authorized person/Signing Authority: Director, Ratings (LCG)
Crisil Ratings Limited
Corporate Identity Number: U67100MH2019PLC326247
Registered Office: Lightbridge IT Park, Saki Vihar Road, Andheri East, Mumbai-400 072. India
Phone: +91 22 6137 3000 I www.crisilratings.com a company of S&P Global
Crisil
Ratings
1) Issuer Details:
Name of the issuer: Poly Medicure Limited
Names of the promoter: Mr. Mukulika Baid
Mr. Jugal Kishore Baid
Mr. Bhupendra Raj Mehta
Mr. Rishi Baid
Mr. Vishal Baid
Mr. Himanshu Baid
Industry/sector to which it belongs: Medical Equipment & Supplies
2) Issue Details
Issue Period: August 19, 2024, to August 22, 2024
Type of issue (public/rights): Qualified Institutional Placement (QIP)
Type of specified securities: Equity Shares
QIP Grading, if any: NA
Issue size: Rs 99,999.98 lakh
(Net proceeds of Rs 98,534.37 lakh*)
*Crisil Ratings shall be monitoring the net proceeds amount. During the quarter ended March 31, 2025, Net proceeds
amount was revised from Rs. 98,499.98 lakhs to Rs. 98,534.37 lakh, owing to issue expenses being lower by Rs. 34.39 lakh.
Same was added to GCP and consequently GCP amount changed from Rs. 23,499.98 lakh to Rs. 23,534.37 lakh.
3) Details of the arrangement made to ensure the monitoring of issue proceeds:
Source of
information/
certifications
Comments of the Comments
considered by
Particulars Reply Monitoring of the Board
Monitoring
Agency of Directors
Agency for
preparation of
report
Statutory Auditors
Proceeds were
Certificate^,
utilized towards
Management
capital
undertaking,
expenditure and
Placement
Whether all utilization is as per the disclosures GCP as in line No
Yes Document August
in the Offer Document? with the Comments
22, 2024
disclosures
(hereinafter
provided in the
referred as “Offer
Placement
Document”), Bank
Document
Statements
Crisil Ratings Limited
Corporate Identity Number: U67100MH2019PLC326247
Registered Office: Lightbridge IT Park, Saki Vihar Road, Andheri East, Mumbai-400 072. India
Phone: +91 22 6137 3000 I www.crisilratings.com a company of S&P Global
Crisil
Ratings
Source of
information/
certifications
Comments of the Comments
considered by
Particulars Reply Monitoring of the Board
Monitoring
Agency of Directors
Agency for
preparation of
report
Whether shareholder approval has been
obtained in case of material deviations from NA No Comments
Comments
expenditures disclosed in the Offer Document?
Whether the means of finance for the disclosed No
No No Comments
objects of the issue has changed? Comments
Is there any major deviation observed over the No
No No Comments
earlier monitoring agency reports? Comments
Whether all Government/s
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