BSE: 544169
Amkay Products Limited
Manufactures and trades medical devices and consumables used in everyday healthcare. The product range covers face masks, alcohol swabs, lancet needles, nebulizers, BP monitors, thermometers and hot water bags. Production runs from two units located in Palghar, Thane, with the trading arm complementing the manufacturing side. Revenue from operations for FY26 stood at Rs 4,202.70 lakhs, up about 9.5% from Rs 3,839.01 lakhs in FY25, while profit after tax for FY26 fell to Rs 231.10 lakhs from Rs 333.85 lakhs the year before. The company recently listed on the BSE SME platform. Its biggest cost line is materials at 28.9% of revenue, followed by employee costs at 8.8% and other operating expenses at 15.0%, with capex running at about 2.1% of revenue. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Manufacturing of medical devices and consumables, Trading of medical devices and consumables. Small-scale, asset-light medical devices maker and trader with two manufacturing units
Exhibit 1: Financial summary, FY24–FY26 (all audited; no estimate years)
| ₹ crore · standalone | FY24 | FY25 | FY26 |
|---|---|---|---|
| Revenue | 31 | 38 | 42 |
| EBITDA (ex other income) | — | — | — |
| margin % | — | — | — |
| Owners' profit | — | — | — |
| EPS, as reported (₹) | 4.13 | 3.96 | 2.67 |
| ROE % · ROCE % | — · 35.5 | — · 18.3 | — · 13.4 |
| Debt / equity (x) | — | — | — |
| Cash from operations | (1) | (0) | 1 |
| Capex | — | (2) | (1) |
Exhibit 2: Quarterly performance, last 5 quarters
| ₹ crore | Q4 FY24 | Q2 FY25 | Q4 FY25 | Q2 FY26 | Q4 FY26 |
|---|---|---|---|---|---|
| Revenue | 17 | 18 | 21 | 23 | 19 |
| Profit before tax | 2 | 3 | 2 | 3 | 1 |
| Net profit | — | — | — | — | — |
| EPS (₹) | 2.09 | 0.00 | 1.72 | 2.33 | 0.40 |
Exhibit 3: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| POLY MEDICURE LIMITED | 14,930 | 47.4 | 4.74 | 27.4 | 10.2 | 12.6 | 19.0 | 30.2 |
| FISCHER MEDICAL VENTURE L | 1,651 | 10.5 | 4.29 | 30.9 | 8.1 | 11.3 | — | 15.5 |
| TARSONS PRODUCTS LIMITED | 1,593 | 143.3 | 2.51 | 13.8 | 2.3 | 2.4 | — | 29.0 |
| LAXMI DENTAL LIMITED | 996 | 32.0 | 4.08 | 21.4 | 11.8 | 11.0 | — | 22.3 |
| Hemant Surgical Industries Lim | 743 | 28.4 | — | — | — | 16.7 | — | — |
| FABTECH TECHNOLOGIES LTD | 566 | 9.2 | 1.35 | 9.1 | 9.1 | 10.7 | — | 9.9 |
| Prevest Denpro Limited | 455 | 15.4 | — | — | — | 21.9 | — | — |
| NURECA LIMITED | 296 | 60.7 | 1.64 | 35.6 | 1.2 | 2.7 | (7.2) | 13.0 |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 11.9 | 21.0 | 5 of 16 | 73% |
| ROCE | 11.8 | 11.3 | 8 of 17 | 56% |
| Revenue growth | 13.9 | 13.9 | 7 of 13 | 50% |
| Market cap | 46 | 164 | 12 of 17 | 31% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 8 Oct 2026 · Routine compliance certificate for Q2 FY26 (Reg 74(5)) | compliance | minimal | — | — |
| 3 Oct 2026 · Clarification on Share Price Movement Sought by BSE | regulatory legal | low | — | — |
| 1 Oct 2026 · Amkay Products 19th AGM: voting results and scrutinizer report filed | board shareholder meetings | low | — | — |
| 1 Oct 2026 · BSE seeks clarification on significant price movement | regulatory legal | high | — | — |
| 30 Sept 2026 · Amkay Products 19th AGM outcome: financials adopted, MD reappointed | board shareholder meetings | low | — | — |
| 28 Sept 2026 · Trading window closed from October 1 for H1 FY27 results | compliance | minimal | — | — |
| 10 Sept 2026 · Amkay Products 19th AGM notice published in newspapers | compliance | minimal | — | — |
| 7 Sept 2026 · Notice of 19th Annual General Meeting on September 30, 2026 | board shareholder meetings | low | — | — |
| 7 Sept 2026 · Annual Report FY26 and 19th AGM Notice filed; AGM on Sep 30, 2026 | board shareholder meetings | medium | — | — |
| 29 Aug 2026 · Company clarifies BSE price query, cites market conditions | regulatory legal | low | — | — |
How to read this document
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions | an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
Sources, method and disclosures
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.