Poly Medicure Limited
NSE: POLYMED · Medical Equipment & Supplies · sector
₹1,443.50NSE close 2026-10-26
Key numbers
Market cap₹14,631 cr
Price₹1,443.50
52w high / low₹2,094 / ₹1,182
P/E46.4xSector median 20.2x
P/B4.7xSector median 2.6x
Book value₹306.4
Dividend yield0.24%Sector median 0.24%
ROE10.7%Sector median 12.4%
ROCE12.7%Sector median 13.5%
OPM22.8%Sector median 13.8%
Debt / equity0.11xSector median 0.13x
EV/EBITDA31.1xSector median 16.4x
Interest cover20.0x
Current ratio3.37x
Sales growth 3y+18.9%Sector median +12.9%
Profit growth 3y+21.6%Sector median +4.1%
PEG2.40x
Last 12 months to Jun 2026, Consolidated. "Sector median" = middle value of 15 companies in Medical Equipment & Supplies (P/E median leaves out loss-making companies). Tap ? for what a number means.
Things to know
- Cash ₹827 cr vs borrowings ₹342 cr (FY26): cash is higher (net cash).
- Borrowings rose in each of the last 3 years (₹146 cr → ₹342 cr).
- Operating profit covered interest 20.0x in the last 12 months.
- No promoter shares are pledged.
- Operating cash flow was below net profit in 3 of the last 5 years (FY26, FY25, FY22).
- Revenue was higher than a year earlier in 4 of the last 4 quarters.
- Other income was 35% of net profit in the last 12 months.
- Debtor days went from 72 (FY24) to 103 (FY26).
- Dividend paid in 5 of the last 5 financial years.
- Price ₹1,443.50 on 2026-10-26: -31.1% from the 52-week high, +22.1% from the 52-week low.
Plain facts from the filings, built by the same fixed rules for every company. A line appears only when the data for it is available. Not a view on the stock.
Charts
Weekly close · high ₹2,922.85 · low ₹1,206.10
RevenueNet profit
RevenueNet profit
Quarterly results
| ₹ cr | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 420 | 424 | 441 | 403 | 444 | 494 | 535 | 525 |
| EBITDA | 115 | 115 | 119 | 106 | 115 | 104 | 110 | 125 |
| OPM % | 27.5% | 27.0% | 27.1% | 26.3% | 25.8% | 21.1% | 20.7% | 23.8% |
| Other income | 26 | 22 | 24 | 42 | 34 | 26 | 18 | 33 |
| Net profit | 87 | 85 | 92 | 93 | 92 | 71 | 66 | 86 |
| EPS (₹) | 9.01 | 8.48 | 8.92 | 9.19 | 9.06 | 7.00 | 6.54 | 8.49 |
| Revenue YoY | +5.7% | +16.4% | +21.3% | +30.3% | ||||
| Profit YoY | +5.0% | -16.8% | -27.8% | -7.6% |
Consolidated figures where filed. Latest quarter Jun 2026.
Profit & loss (yearly)
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 | TTM |
|---|---|---|---|---|---|---|
| Revenue | 923 | 1,115 | 1,376 | 1,670 | 1,875 | 1,997 |
| EBITDA | 213 | 265 | 358 | 453 | 436 | 455 |
| Net profit | 147 | 179 | 258 | 339 | 322 | 315 |
| EPS (₹) | 15.28 | 18.69 | 26.92 | 34.13 | 31.79 | 31.09 |
| Revenue growth | +20.8% | +23.4% | +21.4% | +12.3% | +18.3% | |
| Profit growth | +22.4% | +44.1% | +31.1% | -4.8% | -11.9% | |
| Dividend / share (₹) | 2.50 | 2.50 | 3.00 | 3.00 | 3.50 |
| Compounded growth | 3 years | 5 years | Last 12 months |
|---|---|---|---|
| Sales | +18.9% | +19.0% | +18.3% |
| Net profit | +21.6% | +18.8% | -11.9% |
| EPS | +19.4% | +15.8% | – |
| Share price | – | -22.5% (2y) | -24.0% |
Balance sheet
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Shareholders' equity | – | 1,242 | 1,470 | 2,766 | 3,106 |
| Borrowings | – | 146 | 170 | 178 | 342 |
| Cash & equivalents | – | 302 | 286 | 1,208 | 827 |
| Total assets | – | 1,577 | 1,859 | 3,192 | 3,919 |
| Fixed assets | – | 587 | 819 | 1,038 | 1,255 |
| Capital work in progress | – | 73 | 67 | 90 | 91 |
| Investments | – | 0 | 20 | 7 | 1 |
| Receivables | – | 235 | 270 | 350 | 531 |
| Inventory | – | 209 | 221 | 286 | 434 |
| Payables | – | 92 | 96 | 86 | 123 |
Year-end figures from the March annual filing.
Cash flow
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Cash from operations | 123 | 191 | 266 | 241 | 241 |
| Cash from investing | -85 | -179 | -241 | -1,191 | -225 |
| Cash from financing | -35 | -13 | -20 | 953 | 20 |
| Capex | 156 | 239 | 277 | 325 | 308 |
| Free cash flow | -32 | -48 | -11 | -84 | -68 |
Free cash flow = cash from operations − capex.
Ratios by year
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| ROE % | – | 14.4% | 17.6% | 12.2% | 10.4% |
| ROCE % | – | 17.6% | 21.5% | 15.6% | 12.8% |
| Debtor days | – | 77 | 72 | 76 | 103 |
| Inventory days | – | 188 | 167 | 188 | 265 |
| Payable days | – | 83 | 72 | 57 | 75 |
| Cash conversion cycle (days) | – | 182 | 167 | 207 | 293 |
| Working capital days | – | 168 | 130 | 338 | 266 |
Shareholding
| Holder | % (2026-09-30) |
|---|---|
| Promoters | 62.42% |
| FIIs | 5.35% |
| DIIs | 15.90% |
| of which Mutual funds | 9.77% |
| of which Insurance | 2.33% |
| Public (non-institutions) | 16.33% |
| Quarter | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|
| Promoters % | 62.44% | 62.44% | 62.44% | 62.42% | 62.42% | 62.42% | 62.42% | 62.42% |
| Promoter group | % |
|---|---|
| Ezekiel Global Business Solutions LLP | 12.20% |
| Rishi Baid | 9.59% |
| Zetta Matrix Consulting LLP | 8.21% |
| Himanshu Baid | 7.80% |
| Himanshu Baid (HUF) | 3.79% |
| VCB Trading LLP | 3.49% |
| JAI Polypan Private Limited | 3.26% |
| Smt.mukulika Baid | 3.02% |
| Rishi Baid (HUF) | 2.74% |
| Jugal Kishore Baid | 2.25% |
| Vishal Baid | 1.66% |
| Shaily Baid | 1.17% |
| Shireen Baid | 1.11% |
| Neha Baid | 1.01% |
| Dhruv Baid | 0.36% |
| Public holders above 1% | % |
|---|---|
| Quant Mutual Fund - Quant Small CAP Fund | 4.56% |
| Lighthouse India Fund IV AIF | 2.33% |
| Axis MAX Life Insurance Limited AC Reversionary Bonus Participating Equity | 2.08% |
| UTI Nifty 500 Index Fund | 1.47% |
| HSBC Mutual Fund - HSBC Midcap Fund | 1.22% |
| SBI Nifty Smallcap 250 ETF | 1.21% |
| Nirmala Vinodkumar Daga | 1.07% |
74,153 shareholders. Pledged: 0.00% of promoter shares.
Peers in Medical Equipment & Supplies
| Company | Market cap | P/E | P/B | ROE | ROCE | OPM | Sales 3y | Div yield |
|---|---|---|---|---|---|---|---|---|
| POLYMED | ₹14,631 cr | 46.4x | 4.7x | 10.7% | 12.7% | 22.8% | +18.9% | 0.24% |
| MOLBIO | ₹14,360 cr | – | – | – | – | – | – | – |
| TARSONS | ₹1,587 cr | 142.7x | 2.5x | 1.8% | 4.1% | 26.8% | +14.3% | – |
| LAXMIDENTL | ₹945 cr | 30.4x | 3.9x | 13.7% | 13.4% | 14.0% | – | – |
| FISCHER | ₹856 cr | 11.2x | 2.2x | -0.8% | 11.6% | 13.6% | – | 0.04% |
| HSIL | ₹740 cr | 36.9x | 6.5x | 21.8% | 24.1% | 10.0% | – | – |
| FABTECH | ₹543 cr | 8.8x | 1.3x | 11.6% | 13.6% | 10.9% | – | – |
| PREVEST | ₹455 cr | 14.7x | 4.0x | 29.9% | 36.9% | 34.1% | +12.9% | 0.26% |
| NURECA | ₹296 cr | 63.0x | 1.6x | 2.5% | 5.3% | 3.5% | +9.7% | – |
| CHOKSI | ₹115 cr | 22.2x | 2.7x | 13.1% | 17.9% | 14.5% | +300.1% | – |
Dividends & corporate actions
| Ex-date | Action | Detail |
|---|---|---|
| 2026-08-28 | Dividend | Dividend - Rs 3.50 Per Share |
| 2025-09-18 | Dividend | Dividend - Rs 3.50 Per Share |
| 2024-09-19 | Dividend | Annual General Meeting/Dividend - Rs 3 Per Share |
| 2023-09-21 | Dividend | Annual General Meeting/Dividend - Rs 3 Per Share |
| 2022-09-16 | Dividend | Annual General Meeting/Dividend - Rs 2.50 Per Share |
| 2021-09-16 | Other | Annual General Meeting |
| 2021-09-16 | Dividend | Dividend - Rs 2.50 Per Share |
| 2020-09-21 | Other | Annual General Meeting |
| 2020-02-27 | Dividend | Interim Dividend - Rs 2 Per Share |
| 2019-09-13 | Dividend | Annual General Meeting/Dividend - Rs 2 Per Share |
| 2018-09-18 | Dividend | Annual General Meeting/Dividend- Rs 2 Per Share (Purpose Revised) |
| 2017-09-20 | Dividend | Annual General Meeting/Dividend - Re 0.50 Per Share |
| 2017-09-20 | Dividend | Dividend- Re 0.50 Per Share |
| 2017-03-24 | Bonus | Bonus 1:1 |
| 2017-02-15 | Dividend | Interim Dividend Re 1/- Per Share |
| 2016-11-11 | Dividend | Interim Dividend Re 1/- Per Share (Purpose Revised) |
| 2016-09-19 | Dividend | Annual General Meeting/Dividend - Re 0.50 Per Share (Purpose Revised) |
| 2016-03-17 | Dividend | Interim Dividend - Rs 2.50/- Per Share (Purpose Revised) |
| 2015-09-18 | Dividend | Annual General Meeting/Dividend Rs 2.50 Per Share |
| 2015-02-02 | Split | Face Value Split (Sub-Division) - From Rs 10/- Per Share To Rs 5/- Per Share |
Documents
- Annual report FY26
- Annual report FY26
- Annual report FY25
- Annual report FY24
- Annual report FY23
- Announcements NSE filings
- BRSR FY26
- Latest results (data file) XBRL
- Announcements BSE filings
Links go to the original files on the exchange website.
About the company
- Manufacturing of Medical Devices: Manufacturing, marketing, sale and distribution of medical devices
| Sector | Healthcare |
| Industry | Medical Equipment & Supplies |
| Sub-industry | Medical Equipment & Supplies |
| Symbol | POLYMED |
| BSE code | 531768 |
| ISIN | INE205C01021 |
| Face value | ₹5.0 |
| Incorporated | 1995-03-30 |
| Website | www.polymedicure.com |
| Plants (India / abroad) | 10 / 5 |
From the company's filings (BRSR FY26).
Data built 2026-10-22 from NSE company filings (XBRL: Integrated Filing - Financials + financial results), NSE shareholding & pledge data; price = NSE close 2026-10-26.