BSE: 527005
SHREE PACETRONIX LTD.
Makes cardiac pacemakers at a manufacturing facility in Pithampur, Madhya Pradesh, operating as a single business segment called 'Life Saving Devices'. Revenue of ₹21.64 crore in FY26 came from this segment, with materials at 26.4% of revenue and employee cost at 24.7% being the main cost lines. Capital expenditure of ₹1.23 crore in FY26 went into upgrading pacemaker manufacturing capacity, including automation and cleanroom technology. The company raised ₹152.18 lakh from promoters via a preferential issue of shares and warrants in November 2025 to fund this expansion, with 75,150 warrants later converted into equity in March 2026. Operations are largely standalone — subsidiary Shree Coratomic Ltd contributed just ₹1.75 lakh in revenue. Total consolidated assets stood at ₹25.71 crore at the end of FY26. AR · MarketPing reader · 2026-08-03
Revenue streams, as the annual report describes them. Life Saving Devices. Single-segment, small-cap medical device manufacturer focused on cardiac pacing products
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 9 | 20 | 22 | 17 | 22 |
| EBITDA (ex other income) | 2 | 5 | 6 | 2 | 5 |
| margin % | 19.3 | 26.9 | 26.3 | 13.8 | 24.2 |
| Owners' profit | 0 | 0 | 0 | 0 | 0 |
| EPS, as reported (₹) | 2.17 | 9.06 | 9.33 | 2.08 | 8.66 |
| ROE % · ROCE % | 12.2 · 19.2 | 33.7 · 48.8 | 25.8 · 36.6 | 5.4 · 11.5 | 17.4 · 25.0 |
| Debt / equity (x) | 0.42 | 0.23 | 0.34 | 0.37 | 0.15 |
| Cash from operations | 2 | 2 | (0) | (0) | 3 |
| Capex | (0) | (1) | (0) | (1) | (1) |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 5 | 4 | 4 | 4 | 5 | 7 | 4 | 5 |
| Profit before tax | 1 | 0 | (0) | 1 | 1 | 2 | 0 | 1 |
| Net profit | 0 | 0 | (0) | 0 | 1 | 1 | 0 | 1 |
| EPS (₹) | 1.03 | 0.09 | (0.31) | 1.26 | 1.85 | 3.64 | 0.16 | 3.06 |
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 | 16,399 | 52.0 | 5.21 | 30.0 | 10.2 | 12.6 | 19.0 | 30.2 |
| FISCHER MEDICAL VENTURE L | 2,094 | 13.3 | 5.44 | 38.9 | 8.1 | 11.3 | — | 15.5 |
| TARSONS PRODUCTS LIMITED | 1,738 | 156.3 | 2.74 | 14.9 | 2.3 | 2.4 | — | 29.0 |
| LAXMI DENTAL LIMITED | 1,058 | 34.0 | 4.33 | 22.7 | 11.8 | 11.0 | — | 22.3 |
| Hemant Surgical Industries Lim | 841 | 32.2 | — | — | — | 16.7 | — | — |
| FABTECH TECHNOLOGIES LTD | 622 | 10.1 | 1.48 | 10.1 | 9.1 | 10.7 | — | 9.9 |
| Prevest Denpro Limited | 458 | 15.5 | — | — | — | 21.9 | — | — |
| NURECA LIMITED | 317 | 65.0 | 1.75 | 38.2 | 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) | 19.0 | 21.9 | 7 of 16 | 60% |
| P/B | 3.4 | 2.8 | 8 of 11 | 30% |
| ROCE | 22.8 | 11.3 | 2 of 17 | 94% |
| ROE | 17.4 | 8.1 | 1 of 11 | 100% |
| Debt / Equity | 0.1 | 0.1 | 7 of 11 | 40% |
| EBITDA margin | 31.2 | 16.7 | 1 of 11 | 100% |
| Revenue growth | 25.4 | 13.9 | 3 of 13 | 83% |
| Profit growth | 144.4 | 75.5 | 4 of 10 | 67% |
| Market cap | 62 | 179 | 11 of 17 | 38% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 7 Oct 2026 · Compliance certificate for securities dematerialization for September 2026 quarter | compliance | minimal | — | — |
| 1 Oct 2026 · New statutory auditor appointed to replace retiring auditor at AGM | management changes | medium | — | — |
| 1 Oct 2026 · AGM approves re-appointment of JMD and two Independent Directors | management changes | medium | — | — |
| 1 Oct 2026 · AGM approves 3 director re-appointments | management changes | medium | — | — |
| 1 Oct 2026 · 38th AGM Results: All 8 Resolutions Passed with Over 99% Approval | board shareholder meetings | low | — | — |
| 1 Oct 2026 · AGM 2026: all 8 resolutions passed with over 99 percent votes in favour | board shareholder meetings | low | — | — |
| 29 Sept 2026 · Pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, we are enclosing herewith the proceedings of .... | board shareholder meetings | low | — | — |
| 26 Sept 2026 · Trading window closed from Oct 1 for Q2 FY26 results | compliance | minimal | — | — |
| 23 Sept 2026 · BSE price movement query reply: company cites market conditions | regulatory legal | high | — | — |
| 22 Sept 2026 · Exchange seeks clarification on significant price movement | regulatory legal | medium | — | — |
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.