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Prices as of 8 Oct 2026 close · Not investment advice

Poly Medicure Limited

NSE: POLYMEDMedical Equipment & Supplies

Share price

₹1,605.20

-0.61% close of 8 Oct 2026

Market cap ₹16,373 CrP/E 51.2

Business score

How strong the business is, in one number. The parts behind it are in Pro.

72

out of 100 · worked out 8 Oct 2026

Your ratios

The numbers you want to see first. Tap Edit to change them.

Market cap

₹16,373 Cr

P/E ratio

51.2

P/B ratio

5.2

ROCE

12.5%

ROE

9.0%

Dividend yield

0.2%

Price & valuation chart

How the share price and its valuation have moved. Hover over the chart to see any day. Prices as of the last close.

Prices as of 8 Oct 2026 close52-week high ₹2,063.4052-week low ₹1,191.10

Answers

Simple answers to the questions investors ask most, from the company's own numbers.

How fast it has been growing

Sales grew 18.3% over the past year, and 17.7% a year over its longer record. Meanwhile what it keeps of every 100 rupees of sales improved from 21.3% to 23.2% over the last four years.

Whether it grew faster than its sector

It grew 17.7% a year against a sector median of 13.1% — 4.6 percentage points faster.

Room to re-rate, or risk of de-rating

At 51.2× earnings it costs 2.1× the market, which pays 23.9× across 2199 companies we can price. Its own industry sits at 84.9×, across 5 companies. It is against its own five-year median of 63.8×, the 13th percentile of its own range.

Whether growth justifies the valuation

Priced at 3.4 times its growth rate, on earnings growth of 15%.

Profit growthPrice per ₹1 profitPer 1% growth
Poly Medicure Limited — this one15%/yr51.2×₹3.4
Molbio Diagnostics Limited—97.4×—
Fischer Medical Ventures Limited831%/yr84.9×—
Tarsons Products Limited—150.2×—
Laxmi Dental Limited124%/yr30.4×—
QMS Medical Allied Services Limited—34.0×—

Compared with companies filed under the same label. That grouping comes from the exchange's filing category, so some of them may not be real rivals.

How it compares with its peers

Against companies the exchange files under the same label (Medical Equipment & Supplies), it ranks 4 of 8 on returns, 1 of 6 on growth, 2 of 8 on margin. That grouping comes from the exchange's filing category, so some of them may not be real rivals.

What makes it hard to beat — and is that still true?

A narrow advantage: it earns 12.5% on capital, ahead of 50% of companies filed under the same label. That grouping comes from the exchange's filing category, so some of them may not be real rivals.

Whether its growth pays for itself

No — Over the last five years it made ₹1059 crore of cash from the business but spent ₹1303 crore on plant and equipment, ₹244 crore more than it made; the gap was from lenders and shareholders. And the profit is real: of every 100 rupees it reported over 12 years, about 94 arrived as cash. Its cash comes back more slowly than it used to: it went from being waiting 81 days for its cash to waiting 105 days for its cash.

Profit reality check

Is the profit real cash? Simple checks on the accounts. Facts only, not advice.

7 of 9 checks clear · 78%

Latest result · Q1 FY27

What the last results showed. Whether management kept its word is in Pro.

Revenue grew 30%, while renal fell and full-year targets were mostly maintained.

Announced 7 Aug 2026 · Consolidated · Unaudited

Revenue

₹525 Cr

Revenue vs last year

+30.4%

Revenue vs last quarter

-1.8%

Net profit

₹85 Cr

Profit vs last year

-8.3%

Profit vs last quarter

+31.2%

Net margin

16.2%

EPS

₹8.49

Earnings call transcript · 7 Aug 2026

Checklist before you investPRO

Points for and against, in one list.

Key numbers & peers

The main numbers grouped by topic, and how the company compares with similar ones.

Price

Market cap
₹16,373 Cr
Prev close
₹1,605.20
52w High
₹2,094
52w Low
₹1,182
Enterprise value
₹15,900 Cr
Beta
1.0
Price CAGR 1y
-15.0%
Price CAGR 3y
6.0%
Price CAGR 5y
11.0%
Price CAGR 10y
24.0%

Ratios

Return on assets
8.3%
PEG ratio
3.4
P/E ratio
51.2
P/B ratio
5.2
EV / EBITDA
34.5
Industry P/E
59.5
ROCE
12.5%
ROCE 5y average
17.8%
ROE
9.0%
Debt / Equity
0.1
Interest coverage
21.3
Dividend yield
0.2%
ROE 3y average
13.0%
ROE last year
9.0%

Annual P&L

Annual revenue
₹1,875 Cr
Annual profit
₹321 Cr
Operating margin
24.0%
Net profit margin
17.1%
EBITDA margin
23.8%
Sales growth 3y
18.9%
Sales growth 5y
19.0%
Profit growth 3y
15.0%
Profit growth 5y
14.0%
EPS
₹31.8
Sales growth TTM
18.0%
Profit growth TTM
-11.0%
Dividend payout
11.0%

Quarter P&L

Sales latest quarter
₹525 Cr
Profit latest quarter
₹85 Cr
YoY quarterly sales growth
30.3%
YoY quarterly profit growth
-8.6%
OPM latest quarter
23.8%

Balance Sheet

Book Value
₹305
Face Value
₹5.0
Total debt
₹354 Cr
Total cash
₹88 Cr
Borrowings
₹354 Cr
Reserves / Equity
59.9

Cash Flow

Operating cash flow
₹246 Cr
Free cash flow
-₹59 Cr
FCF yield
-0.5%
Net cash flow
₹43 Cr

Shareholding

Promoter holding
62.4%
FII holding
5.6%
DII holding
16.1%
Public holding
15.9%

Peer comparison

CompanyPrice ₹P/EMkt cap ₹ CrDiv yield %Profit qtr ₹ CrProfit var %Sales qtr ₹ CrSales var %ROCE %
Molbio Diagnosti1,510.4080.217,4060.0056.6522.3399.4319.018.0
Poly Medicure1,599.1050.616,2090.2285.3-7.6525.430.312.5
Fischer Medical31.7490.62,2180.153.8-22.081.9249.511.4
Tarsons Products332.00149.21,7660.00-1.4-180.9110.220.74.6
Q-Line Biotech660.0027.21,5400.0034.4147.3197.9-8.622.4
Laxmi Dental190.7530.21,0500.0010.322.874.713.915.1
Hemant Surgical631.9554.39190.0012.8159.2166.7189.218.9
Median332.0036.36660.004.219.874.721.515.1

Competes with: Fischer Medical Ventures Limited, GKB Ophthalmics Limited, Laxmi Dental Limited, Molbio Diagnostics Limited, Nureca Limited, QMS Medical Allied Services Limited, Tarsons Products Limited

Quarterly results

Sales and profit for each of the last 13 quarters. Newest on the right. ₹ crore.

Consolidated · to 30 Jun 2026
Line itemJun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales321337340378385420424441403444494535525
Expenses234253249282281305310321298329382424400
Material Cost142141157146155184
Change in Inventories2.93-15-238.0122-47
Purchases of Stock-in-Trade2.510.861.231.581.382.67
Employee Cost797589115126127
Other Expenses9595105112120134
Operating Profit87849096104115114119106115111110125
OPM %27252726272727272626232124
Other Income14151715172724274335211935
Exceptional items (within Other Income)000-6.8000
Interest2233333233666
Depreciation16161616202121212325293836
Profit before tax83818892981181131231231229885117
Tax %24232626252625252425272427
Net Profit63626568748785929392716585
EPS in Rs6.546.486.787.127.718.638.419.069.199.0676.548.49
Diluted EPS in Rs8.929.179.066.996.538.48

Profit & loss

Yearly sales, costs and profit for 12 years, plus the last 12 months (TTM). ₹ crore.

Consolidated · to 31 Mar 2026
Line itemMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales3904114545196106877859221,1151,3751,6691,8751,997
Expenses3043233613974795205697078471,0141,2131,4291,536
Material Cost571599
Change in Inventories-25-7.64
Purchases of Stock-in-Trade7.945.06
Employee Cost302402
Other Expenses361434
Operating Profit868893122131166216215267361456446461
OPM %22212123222428232426272423
Other Income288141620212240386094119110
Exceptional items (within Other Income)0-6.80
Interest101081214201161114142122
Depreciation1921242937414854576383116128
Profit before tax85657597100126180195237344453427422
Tax %272727273524252525252525
Net Profit624855716596136147179258339321313
EPS in Rs7.075.476.2587.411114151927333231
Diluted EPS in Rs3432
Dividend Payout %182740252718181616111011

Compounded growth

Average yearly growth over different spans, as stored. A span can cross a demerger or an acquisition.

Compounded sales growth

10 years
16%
5 years
19%
3 years
19%
TTM
18%

Compounded profit growth

10 years
19%
5 years
14%
3 years
15%
TTM
-11%

Stock price CAGR

10 years
24%
5 years
11%
3 years
6%
1 year
-15%

Return on equity

10 years
15%
5 years
13%
3 years
13%
Last year
9%

Balance sheet

What the company owns and what it owes, at the end of each year. ₹ crore.

Consolidated
Line itemMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital222244444444484848485151
Reserves1742072272943373919181,0401,1941,4222,7153,055
Borrowings7982101133161207137127149174180354
Other Liabilities89768594112126121163187215246401
Minority Interest43
Total Liabilities3643874575656547671,2241,3771,5771,8593,1923,861
Fixed Assets1651822072653063634264886358671,0841,694
CWIP1014201819252143787610199
Investments443178253543461261671,076755
Other Assets1851872272643213544224997387489301,313
Total Assets3643874575656547671,2241,3771,5771,8593,1923,861

Cash flows

Real money coming in and going out each year — from the business, from investments and from loans. ₹ crore.

Consolidated
Line itemMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity63635675106131119123191266233246
Cash from Investing Activity-59-31-56-88-101-109-436-85-179-241-1,187-224
Cash from Financing Activity-6-31-016-5-21317-35-13-2095120
Net Cash Flow-21031103-15-343
Free Cash Flow1331-0-7312524-31-48-9-97-59

Ratios

How fast customers pay, how long stock sits, and how well capital earns — year by year.

Consolidated
Line itemMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days5974777977687282777276103
Inventory Days148114194161186241217218237205233323
Days Payable1017613196123142111115105897091
Cash Conversion Cycle106111140144139166179185209188239335
Working Capital Days2535557156427481695475105
ROCE %302624262225221718241812

Shareholding pattern

Who owns the company — founders (promoters), foreign funds, Indian funds and the public. In %.

Consolidated · to 30 Jun 2026
Line itemSep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters535353666362626262626262
FIIs1414129.91121211119.779.415.925.56
DIIs5.155.467.219.341212121214141616
Public272727151314141414141616
No. of Shareholders34,64936,05336,71236,85238,35260,68665,58371,14264,40067,75073,41473,643

Price trend

The price as a Renko brick chart: small moves drop out so the bigger path stands out.

Change over 1 year -15.6% (₹1,901.60 → ₹1,605.20)Brick size ₹50.07 (fixed)Bricks 47
₹1,250₹1,500₹1,750₹2,000₹1,605Nov '25Jan '26Mar '26May '26Jul '26Sep '26
Price moved up one brickPrice moved down one brickLast close ₹1,605.20 on 8 Oct 2026

Every brick is the same size, about one typical day's move. A new brick needs a full brick's move; turning the other way needs two. Bricks show where the price went, not where it will go.

Open interestPRO

Where option traders are positioned on this stock.

Industry numbers

The numbers that matter most in this industry, from the company's own filings.

1 when an audit qualification is filed as repetitive

0.00flag

2026-03-31

the company's own unlisted debt securities in default at period end

0.00cr

2026-06-30

the company's own loans / revolving facilities in default at period end (standalone filing)

0.00cr

2026-06-30

net debt from the filed balance sheet at the newest year end: Borrowings − Cash Equivalents − Investments (Current); negative = net cash

-473inr_cr

2026-03-31

guarantees / comfort given for promoter, promoter group, directors and KMP

0.00cr

2026-03-31

loans outstanding to promoter, promoter group, directors and KMP (governance filing)

0.00cr

2026-03-31

security given for the borrowing of promoter, promoter group, directors and KMP

0.00cr

2026-03-31

FY revenue / permanent employees + workers, same basis (calc)

54,27,570inr

2026-03-31

News

News and filings about Poly Medicure Limited. Open one to see why it matters.

No recent news for this company.

Supply chain

Who it buys from, sells to and competes with — as recorded in our map of company links.

Competes with

Uses as raw material

  • Medical-grade plastic granules (PP, LDPE, HDPE, PC, PA, SAN, ABS, K-Resin)
  • PVC compound
  • packing materials

Depends on the price of

  • Crude Oil Brent

About

What the company is, from our own records: where it sits, where it makes things, and what it is made of.

Sector
Healthcare
Industry
Medical Equipment & Supplies
Classification
Healthcare › Medical Equipment & Supplies
ISIN
INE205C01021

Plants

  • Faridabad medical device plants (115-116, 117, 104-105, IMT, IMT2)
  • Haridwar Plant · Haridwar, Uttarakhand
  • Jaipur SEZ and SEZ2 plants
  • Plan1Health s.r.l. facility
  • Poly Medicure Laiyang Company facility
  • Ultra For Medical Company facility · Assuit, Assuit, Egypt

News impact

Big market events that reach Poly Medicure Limited, and how the effect spreads.

Who it hits first

  • A Motilal Oswal Alternates fund sold 23.28 lakh Molbio Diagnostics shares, over 2%, for Rs 306 crore at Rs 1315.01 each.
  • Molbio shares face near-term selling pressure as the market absorbs the extra supply.
  • The selling fund locks in cash and a realized return it can report to investors and redeploy.

Who may gain

  • Motilal Oswal Alternates fund investors, who get Rs 306 crore of realized cash back
  • Institutions that bought the block, if they picked up Molbio shares at a discount to the market price
  • No operating winner: demand for diagnostic tests and machines is unchanged by a share sale

Along the supply chain

Downstream

No downstream link: distributors, labs and hospitals buy diagnostic tests, not the fund's shares.

Upstream

No upstream supply link: a secondary share sale does not change what Molbio buys from parts or material makers.

Where demand moves

Business

No business demand shifts: hospitals and labs order the same Molbio machines and test cartridges the day after a shareholder sells stock.

Capital

Rs 306 crore of equity moves from the seller fund to block buyers; the fund books liquidity and eventual performance fees while Molbio shares digest the new supply.

How it spreads across sectors

Financial Services

Tiny and neutral for brokers: one Rs 306 crore fund realization does not move trading volumes or fees.

Healthcare

Neutral: a single-stock ownership change with no pricing, volume or policy readthrough to labs or device makers.

When it plays out

Immediate

Molbio stock wobbles for 1-7 days as the block supply settles and buyers are revealed.

Medium term

Within 1-6 months the episode fades; Molbio trades on test volumes and earnings, the fund on its next exits.

Short term

Over 1-4 weeks the price finds its level near the block price unless a big new holder keeps buying.

Who it hits first

  • India's drug-price regulator NPPA cannot legally impose its planned 20% cap on medical-device trade margins under its current powers, so listed device makers keep today's margins.
  • Poly Medicure (POLYMED), the largest listed pure-play maker of catheters, infusion sets and disposable devices, gets mild relief; smaller device names QMS Medical, Fischer Medical and GKB Ophthalmics benefit too but trade too thinly to act on.
  • Hospitals and diagnostic chains get no cost relief from this — neutral for them — and drug makers are untouched since no medicine prices change.

Who may gain

  • Poly Medicure is the only liquid listed beneficiary: the stalled cap removes a threat that price controls could eventually squeeze its earnings.
  • Unlisted global device arms selling in India (Medtronic, Johnson & Johnson, Becton Dickinson) keep their channel margins too, but they have no Indian listing to trade.

Along the supply chain

Downstream

Hospitals, distributors and pharmacies pay the same device prices as before, so nothing changes in their costs or stocking; the cap would only have mattered if it had been imposed.

Upstream

Almost no upstream effect: plastic, resin and component suppliers to device makers see steady order volumes because no price or quantity changes — only a proposed margin rule that never took effect.

Where demand moves

Business

No demand is created or destroyed — hospitals order the same quantities at the same prices. This is purely about who keeps the margin on each device sold, and for now the answer stays unchanged.

Capital

At most a small relief bid in Poly Medicure shares; far too narrow an event to pull money into or out of Healthcare as a whole, so no rotation.

How it spreads across sectors

Healthcare

Ripple stays inside Healthcare's small device corner: mild sentiment relief for device makers, neutral for hospitals, diagnostics and every drug maker — no second-order effects anywhere else.

When it plays out

Immediate

1-7 days: mild relief sentiment in POLYMED shares, perhaps +1-2%, while the rest of Healthcare ignores the story.

Medium term

1-6 months: either a new legal route resets device trade margins (mild negative for makers) or the proposal fades and today's margins stand.

Short term

1-4 weeks: watch for a government response — an amended price-control order, an expanded drug schedule or a fresh bill would revive the margin-cap threat and erase the relief.

Who it hits first

  • Domestic medical-device manufacturers face simpler and faster licensing under the proposed Medical Devices Rules amendments; lower compliance cost and quicker product approvals primarily benefit pure-play domestic makers (POLYMED, LAXMIDENTL).

Who may gain

  • Poly Medicure (POLYMED) — largest listed pure-play domestic device maker
  • Laxmi Dental (LAXMIDENTL) — domestic dental-device maker

Along the supply chain

Downstream

Hospitals, diagnostic chains and distributors that buy domestic devices may get faster product availability and modestly better pricing as licensing friction falls.

Upstream

Upstream component/raw-material suppliers (medical-grade polymers, electronics) see no direct change — the benefit is regulatory (licensing friction), not input-sourcing driven.

Where demand moves

Business

Eased licensing lowers entry/expansion friction for domestic device makers (POLYMED, LAXMIDENTL), supporting import substitution in an ~82%-import-dependent market; import-led players (NURECA) face an ambiguous net effect since registration may also speed up.

Capital

Marginal positive sentiment toward listed domestic device makers; the draft (non-final) status is too soft to drive sector rotation, so capital impact is limited to stock-specific re-rating if the final rule confirms the easing.

How it spreads across sectors

Healthcare

Marginal positive for device-using hospitals and diagnostic chains via faster device availability

Medical Devices

Lower regulatory friction → margin/throughput tailwind for domestic device makers

When it plays out

Immediate

Muted price reaction expected — this is a draft notification, not a final rule (historical precedent: POLYMED 1d +0.85% / -0.90% on 2023 policy events).

Medium term

If finalized, lower compliance cost and faster approvals reinforce the domestic-manufacturing tailwind (POLYMED renal +35% YoY in FY24 after Oct-23 device rules); 1-6 month positive for POLYMED and LAXMIDENTL.

Short term

Watch for consultation feedback and the final notification; domestic device-maker sentiment modestly positive.

Dividends, splits & big trades

Money paid out, share splits and buybacks, and big buys or sells by funds and insiders.

Dividends

28 Aug 2026unspecified₹3.5
18 Sep 2025unspecified₹3.5
19 Sep 2024unspecified₹3
21 Sep 2023unspecified₹3
16 Sep 2022unspecified₹2.5
16 Sep 2021unspecified₹2.5
27 Feb 2020interim₹2
13 Sep 2019unspecified₹2

Splits, bonuses & buybacks

  • daily-prices repair: 9 rows from NSE's archive (replace 1, delete 1, insert 7), 2016-10-30..2026-02-01 (docs/flat_day_repair.md)1× · 30 Oct 2016

Documents

Annual reports, results presentations and earnings calls, straight from the source.

Facts from company filings and exchange data. Not investment advice: nothing here tells you to buy or sell.