NSE: QMSMEDI
QMS MEDICAL ALLIED S LTD
Operates in the healthcare services space, with a subsidiary, Saarathi Healthcare Private Limited, that runs patient support operations, CRM platforms, data management, call centre operations and digital workflows for healthcare clients. In July 2026, the subsidiary received a SOC 2 Type II certification valid for five years (July 14, 2026 to July 15, 2029), covering security, availability, processing integrity, confidentiality and privacy controls across these operations with no non-conformities noted. The parent reported FY26 revenue of ₹172.88 crore against total assets of ₹212.85 crore. The cost structure is light on materials, with employee costs at 8.8% of revenue and other operating expenses at 22.6% of revenue, while capex was 3.3% of revenue, pointing to a services-led model rather than a manufacturing one. In June 2026, the company migrated from the NSE SME/Emerge platform to the NSE Mainboard. The filings provided do not break out revenue by segment or describe the parent's activities outside the Saarathi Healthcare subsidiary. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Healthcare services (via subsidiary Saarathi Healthcare). Services-led healthcare support business, asset-light, recently migrated to NSE Mainboard
Exhibit 1: Financial summary, FY25–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY25 | FY26 |
|---|---|---|
| Revenue | 156 | 173 |
| EBITDA (ex other income) | — | — |
| margin % | — | — |
| Owners' profit | — | — |
| EPS, as reported (₹) | 6.77 | 5.40 |
| ROE % · ROCE % | — · 20.0 | — · 18.9 |
| Debt / equity (x) | — | — |
| Cash from operations | 20 | 19 |
| Capex | 0 | (6) |
Exhibit 2: Quarterly performance, last 6 quarters
| ₹ crore | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|
| Revenue | 88 | 46 | 91 | 37 | 82 | 57 |
| Profit before tax | 10 | 4 | 9 | 4 | 7 | 6 |
| Net profit | — | — | — | — | — | 4 |
| EPS (₹) | 3.51 | 1.64 | 3.32 | 1.24 | 2.11 | 2.05 |
Exhibit 3: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 2 Oct 2026 · AGM results: all 6 resolutions passed, 5 percent dividend declared | board shareholder meetings | low | — | — |
| 1 Oct 2026 · 9th AGM held; 5 percent dividend, HEINE deal, mainboard move shared | board shareholder meetings | low | — | — |
| 28 Sept 2026 · QMS Medical Allied Services to acquire 100% of Pune-based BeamOptics Scientific | strategic transactions | high | — | — |
| 25 Sept 2026 · QMS and HCAH merge PSP businesses to form Saarathi | compliance | medium | — | — |
| 25 Sept 2026 · Board approves healthcare demerger into Saarathi, BeamOptics buyout | strategic transactions | high | — | — |
| 25 Sept 2026 · QMS board approves healthcare demerger scheme and BeamOptics acquisition | strategic transactions | high | — | — |
| 25 Sept 2026 · QMS demerges healthcare biz into Saarathi, to acquire BeamOptics | strategic transactions | high | — | — |
| 25 Sept 2026 · QMS board approves composite scheme of arrangement, BeamOptics acquisition | strategic transactions | high | — | — |
| 25 Sept 2026 · QMS board approves healthcare demerger into Saarathi and BeamOptics 100% acquisition | strategic transactions | medium | — | — |
| 25 Sept 2026 · Trading window closure from Oct 1, 2026 for Q2/HY results | compliance | minimal | — | — |
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.