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NSE:POLYMED

POLY MEDICURE LIMITED

Healthcare › Healthcare Equipment & Supplies·NIFTY 500NIFTY MIDSMALLCAP 400NIFTY MIDSMALLCAP400 50:50NIFTY SMALLCAP 250+6
₹1,473.00
at close · 27 Oct 2026
▲ 34.30 (+2.38%)

Latest filings

  1. RTA compliance certificate under SEBI Reg 74(5) filed for Q2 FY27 · Compliance
  2. Trading Window Closure from October 1, 2026 for Q2 Results · Compliance
  3. Poly Medicure schedules one-on-one investor meet with Avendus Spark on Sep 30 · Board & Shareholder Meetings
All filings ↓
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Snapshot

What the business is, and whether it's a good one at a fair price.

AI · written from filings

Makes medical devices across infusion therapy, renal care and cardiology for hospitals in India and overseas markets. Infusion therapy accounts for 50% of revenue, with the rest coming from higher-technology segments such as renal dialysis machines and cardiology stents. It expanded internationally through European acquisitions PendraCare and Citieffe, and bought Medyneo for about USD 40,000 to use existing ANVISA licences and enter Brazil's USD 13-15 billion medical device market. FY26 stand-alone revenue was INR 1,662 crore (+4% year-on-year) with EBITDA margin of 26.8%; consolidated revenue including the acquired entities was INR 1,875 crore (+12.3%). Raw materials at 32% of revenue are the largest cost, with crude-linked inputs seeing 20% inflation in FY26 that shaved 200-300 basis points off gross margins. The Indian medical device market is 60-70% import-driven, with hospitals shifting to 60-65% insurance-based payments, creating room for domestic manufacturing.

Operating scale
Dialysis machines installed base
~1,000 machinesFY26
Dialysis machines placed in FY26
450 machinesFY26
Cardiology stents deployed
11,000 stentsFY26
New products launched
35 products (20 standalone)FY26
Cardiology clinical registry
650+ patients enrolled (target 2,000)FY26
Brazil medical device market
USD 13-15 billion
Who pays it
Hospitals and healthcare providers across India and overseas markets (Europe, Latin America, USA)
Biggest cost
Raw materials at 32% of revenue, heavily exposed to crude-linked inputs with 20% inflation in FY26
Kind of business
Asset-light medical device manufacturer transitioning from low-technology to higher-technology product mix
Where it sits
Domestic Indian manufacturer in a 60-70% import-driven medical device market, expanding via European acquisitions and Brazil entry
Market Cap
₹14,930 Cr
P / E (TTM)
47.4×
EV / EBITDA
26.9×
Div Yield
0.24%
Growth
19.0%▲
Revenue 5y CAGR
PAT +18.7% · EBITDA +19.0%
Quality
17.1%▲
ROCE (5y median)
ROE 13.5% (5y median) · margin 29.6%
Leverage
0.11·
Debt / Equity · low
Net debt ₹290 Cr
Revenue FY21→FY26
2.4×▲
Margin −0.2 pts
₹786 Cr → ₹1,875 Cr
Cash conversion
0.85×·
Operating cash ÷ profit · 5 yrs
₹1,062 Cr on ₹1,243 Cr
Moves on a normal day
1.44%·
Median daily move
Last 267 sessions · the yardstick for filing-day moves
Where it sits among 16 Medical Equipment & Supplies peersBar = share of peers beaten · tick = industry median · latest reported figures
P/E (TTM)#12/16
P/B#11/11
ROCE#7/17
ROE#4/11
Debt / Equity#6/11
EBITDA margin#2/11
Revenue growth#2/13
Profit growth#8/10

Scorecard

Measured from the filed financials, judged against its Medical Equipment & Supplies peers · as of FY26 — not investment advice

Strengths
Revenue compounding 19% a year over 5 years
Profit compounding 19% a year over 5 years
Returns on capital 17.1% (5-year median)
#7 of 17 in Medical Equipment & Supplies on the latest reported figures · down from 17.6% in FY21
Concerns
Heavy working capital — 164 days of cash tied up
Customers are taking longer to pay — 73 → 103 days of receivables
FY21 → FY26

Charts

How has the market priced it — with filings on the timeline?

POLYMED · price

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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.

Peers

How does it stack up on valuation, returns and growth?

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Financials

Quarterly & annual P&L, balance sheet, cash flow, ratios and segments.

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Ownership

Who owns it — and is the promoter stake clean?

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Common questions

Answered from POLY MEDICURE LIMITED's filed financials and exchange disclosures

What does POLY MEDICURE LIMITED do?

POLY MEDICURE LIMITED is a Healthcare Equipment & Supplies company listed on NSE and BSE, trading under the symbol POLYMED.

Is POLY MEDICURE LIMITED profitable?

Yes. Over the trailing twelve months POLY MEDICURE LIMITED reported a net profit of ₹313 Cr on revenue of ₹1,997 Cr.

Does POLY MEDICURE LIMITED pay a dividend?

Yes. The dividend yield is 0.24% at the current price. It paid out 11% of its profit as dividend in FY26.

Is POLY MEDICURE LIMITED debt-free?

No. It reported borrowings of ₹342 Cr on its 31 Mar 2026 balance sheet, or net debt of ₹290 Cr after cash. Debt stands at 0.11× equity. That is lower than 50% of its 11 Medical Equipment & Supplies peers.

Is POLY MEDICURE LIMITED expensive compared with its peers?

On trailing P/E, POLY MEDICURE LIMITED ranks 12 of 16 in Medical Equipment & Supplies — cheaper than 27% of them, against an industry median of 21.0×. This is a position, not a valuation judgement.

How much does the POLY MEDICURE LIMITED share price move in a day?

On a typical session POLY MEDICURE LIMITED moves 1.44% — that is the median absolute close-to-close move across its last 267 trading days. MarketPing measures each filing's price reaction against it.

Where can I track POLY MEDICURE LIMITED's announcements?

Every NSE and BSE filing by POLY MEDICURE LIMITED appears on this page, AI-summarised, alongside the price reaction that followed it. Follow the company to get each new filing on WhatsApp within minutes.

Figures are as last reported and may lag the latest filing. Not investment advice.