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Poly Medicure Ltd.

•
polymedicure.comBSE: 531768NSE: POLYMED
Market Cap₹ 17,713 Cr.
Current Price
High / Low₹ 2,108 / 1,182
Stock P/E56.2
Book Value₹ 314
Price to Book3.90
Dividend Yield0.20 %
ROCE14.0 %
ROE10.9 %
Face Value₹ 5

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ABOUT

KEY POINTS

Revenue Breakup Mar 2023 • Medical Devices: 100.0%

AI Sector View

AI GENERATED

Healthcare

Buy

This stance relies on proxies and positioning because no direct pharma-export or healthcare operating series exists in the dataset. The depreciated currency at 95.23 (Sep/26) can support export earnings, inflation at 4.45% (Jul/26) is manageable for a defensive sector, and consumer spending remains large at INR 44743 billion (Jun/26). Strong FPI inflow of INR 10620 crore over 3 months to 2026-08-31 from INR -11381 crore in the prior 3 months adds a real sector-specific tailwind, but confidence stays capped because the fundamental drivers are indirect proxies.

Confidence
50%
View full sector analysis →

PROS

  • Company has consistently been profitable over the last 5 years
  • Company has delivered good sales growth of 19.0% CAGR over last 5 years
  • Company comfortably covers its interest (21.0x coverage)
  • Working capital cycle has improved - days down from 338 to 264
  • Company has a consistent dividend-paying track record
  • Company generates healthy free cash flow

CONS

  • Receivables are growing faster than sales - a possible quality concern
  • Recent results are weak - TTM profit is down 15.4% versus prior year
  • A large part of profit comes from other income (29.7% of PBT)
  • Promoter holding has decreased over last 2 years: -3.6pp
  • Total debt has risen sharply - up 92.3% year on year
  • Operating margins have contracted to 23.2% from 27.1%

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

HealthcareHealthcareMedical Equipment/Supplies/Accessories
Part ofNIFTY TOTAL MKTNIFTY SML250 Q50NIFTY 500NIFTY SMLCAP 250
S.No.Name
1.LENSKART693.20183.97120568.700.002284.303634.3527141.801332.6912.5521.70
2.POLYMED1747.5556.2217713.420.2085.27-8.39525.3830.3014.0524.11
3.MOLBIO1509.70104.4317397.780.00527.44—4083.76—19.7924.63
4.3BBLACKBIO1446.4022.361241.400.358.98-28.9933.4950.5926.0325.45
5.LAXMIDENTL202.6536.101115.170.0010.3223.8374.7016.1324.9620.26
6.GKB64.5910.0432.560.001.85387.9933.042.268.827.97
Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
321337340378385420424441403444494535525
234253249282281305310321297329382424443
Operating Profit8784909610411511412010611511111082
OPM %27.18%24.97%26.57%25.51%26.98%27.42%26.97%27.13%26.32%25.84%22.52%20.65%15.67%
13141715172622244234191833
Interest2233333233667
Depreciation16161616202121212325293836
Profit before Tax82808792981171121211221219684117
Tax %24.73%23.42%26.19%26.13%24.91%26.04%25.11%25.73%24.55%24.76%27.94%24.16%27.31%
Net Profit0000748785929392716585
6.546.486.787.127.719.018.488.929.199.067.006.548.49

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
4555206116877869231,1151,3761,6701,8751,997
3623984805215707088481,0161,2141,4371,579
Operating Profit93122131166216215267360456439419
OPM %20.54%23.43%21.48%24.17%27.53%23.29%23.98%26.17%27.29%23.39%20.96%
141418181838365989120105
Interest91214201161114142122
Depreciation242937414854576383116128
Profit before Tax7597100126180195237344453427417
Tax %26.68%27.04%34.65%23.74%24.54%24.96%24.51%24.98%25.18%24.97%26.09%
Net Profit55716596136147179258339321309
EPS6.258.007.4110.8615.2415.2718.6726.9133.4131.78—
Dividend Payout %40.01%25.00%26.98%18.41%17.64%16.36%16.05%11.15%10.48%11.01%—

COMPOUNDED SALES GROWTH

10 Years:
16%
5 Years:
19%
3 Years:
19%

COMPOUNDED PROFIT GROWTH

10 Years:
21%
5 Years:
19%
3 Years:
22%

STOCK PRICE CAGR

10 Years:
25%
5 Years:
12%
3 Years:
9%
1 Year:
-13%

RETURN ON EQUITY

10 Years:
18%
5 Years:
15%
3 Years:
15%
Last Year:
11%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Corporate actions

2017

Mar 24

1:1

Poly Medicure Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on February 06, 2017, inter alia, to consider the following: 1. To consider and approve the Un-Audited Financial Results of the Company for the Third quarter and Nine months ended on December 31, 2016. 2. To consider declaration of 2nd interim dividend, to the Equity Shareholders of the Company for the current financial year 2016-17. 3. To consider the issue of Bonus Shares, subject to approval of shareholdeis to be obtained in this behalf.

Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital44444444484848485151
Minority Interest-0-0000000043
2272943373919171,0381,1911,4192,7133,048
107140167209141130151158179367
Trade Payables424456666589929686123
374378909772152212251305
Total Liabilities4575656828001,2671,3771,6351,9323,2803,936
2062623033594214846348671,0841,694
Capital Work in Progress1210917153773679091
3178253543461321671,076755
627384112126168209221286434
0000000270350531
Cash & Bank23205525301517814715188
151183224261321325410194243344
Total Assets4575656828001,2671,3771,6351,9323,2803,936

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
7498134164163171249266233246
Cash from Investing-56-88-101-107-436-85-179-241-1,187-225
Cash from Financing-016-5-21317-35-13-2095120
031103-15-441

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026

Shareholding Pattern

Numbers in percentages

Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
66.0362.5662.4462.4462.4462.4262.4262.4262.42
9.9111.8612.3111.4411.419.779.405.925.56
9.3412.3311.6611.9611.7213.5313.8415.6016.08
Government0.000.000.000.000.000.000.000.000.00
14.7213.2413.5714.1514.4414.2714.3416.0815.94

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-09-07
Shareholders meeting

2026-09-07 - Poly Medicure Limited has submitted the Exchange a copy Srutinizers report of Annual General Meeting held on September 05, 2026. Further, the company has informed the Exchange regarding voting results.

2026-09-05
Shareholders meeting

2026-09-05 - Poly Medicure Limited has informed the Exchange regarding Proceedings of Annual General Meeting held on September 05, 2026

2026-09-02
General Updates

2026-09-02 - Poly Medicure Limited has informed the Exchange about General Updates

2026-08-25
General Updates

2026-08-25 - POLYMED: Intimation On Rescheduling Of Investor/Analyst Meet

2026-08-22
General Updates

2026-08-22 - Intimation for the schedule of Investors/Analyst Call/ Meet.

2026-08-20
General Updates

2026-08-20 - Investor Call Scheedule to be held on 20th August, 2026 is Cancelled

2026-08-17
General Updates

2026-08-17 - Poly Medicure Limited has informed the Exchange about the schedule of Investors/Analysts Call/Meet

2026-08-15
Copy of Newspaper Publication

2026-08-15 - Poly Medicure Limited has informed the Exchange about Copy of Newspaper Publication

2026-08-14
Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-14 - Poly Medicure Limited has informed the Exchange about Transcript

News

Recent coverage and analyst commentary for POLYMED

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Poly Medicure Ltd.

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