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Poly Medicure

POLYMED NSE
₹1,586.80 +90.60 (+6.06%)
P/E
51.04
View as Markdown
MCP
Close 4 Nov 2026 ₹1,586.80 −310.10 −16.3% 1Y
Start ₹1,896.90

Key Fundamentals

SmallcapHealthcare Equipment & SuppliesHealthcare

Price-based figures as of · EPS basis: Consolidated · TTM

ROCE
12.50%
Debt to Equity
0.11
EPS (TTM)
₹31.09
Book Value
₹306.45
Market Cap
—
P/E (TTM)
51.04
P/B
5.18
ROE
9.02%
Dividend Yield
0.23%
EBITDA
₹562 Cr
52W High
₹2,094.30
52W Low
₹1,182.00
Day Range
₹1,480.10 – ₹1,616.00
Volume
1,04,894

Tapetide Score

Data-driven rating, 0–100, as of . How it works →

Overall score

43 Weak

Data confidence 100/100

Category scores

Quality
38
Weak
Returns, margins, earnings quality 22% weight
Valuation
32
Poor
Cheap vs sector & own history 24% weight
Growth
54
Average
Sales & profit trajectory 9% weight
Financial Health
75
Strong
Solvency, leverage, coverage 9% weight
Momentum
33
Poor
Trend strength, vol-adjusted 12% weight
Ownership
41
Weak
FII/DII/promoter flows 24% weight

The Tapetide Score is data analysis, not investment advice. Tapetide is not a SEBI-registered research analyst or investment adviser.

Key Insights

No strengths listed

Weaknesses

2
  • Company has a low return on equity of 12.6% over last 3 years.
  • Debtor days have increased from 83.9 to 103 days.

Technical Indicators

Technical signals: verdict and indicator counts
GroupSignalBearishNeutralBullish
OverallBearish847
OscillatorsBearish342
Moving AveragesNeutral505

Key readings

RSI (14)
54.73
Neutral
MACD (12,26,9)
−41.63
Bullish
SMA (50)
1,638.10
Bearish
SMA (200)
1,545.39
Bullish

As of

Analyst Rating

Based on 5 analysts
BUY60%

3 of 5 analysts rate Buy, 2 Hold, 0 Sell.

As of

BUY
3
60%
HOLD
2
40%
SELL
0
0%

Growth Rate

From the financial statements below. 10Y, 5Y, 3Y: compound annual growth to Mar 2026; 1Y: fiscal year to Mar 2026 against Mar 2025; TTM: four quarters to Jun 2026 against Jun 2025.

Revenue

Revenue growth by window
10Y+16.39%
5Y+19.02%
3Y+18.92%
1Y+12.34%
TTM+18.36%

Net profit

Net profit growth by window
10Y+20.93%
5Y+18.74%
3Y+21.49%
1Y−5.31%
TTM−12.32%

Operating cash flow

Operating cash flow growth by window
10Y+14.59%
5Y+15.63%
3Y+8.80%
1Y+5.58%
TTM—

TTM: Reported once a year, so there is no trailing-twelve-month figure.

Operating margin· change in pp

Operating margin growth by window
10Y+2.38 pp
5Y−3.73 pp
3Y−0.16 pp
1Y−3.53 pp
TTM−3.83 pp

Revenue by year

Revenue by year, ₹ crore
Mar 2017₹454 Cr
Mar 2018₹519 Cr
Mar 2019₹610 Cr
Mar 2020₹687 Cr
Mar 2021₹785 Cr
Mar 2022₹922 Cr
Mar 2023₹1,115 Cr
Mar 2024₹1,375 Cr
Mar 2025₹1,669 Cr
Mar 2026₹1,875 Cr

Net profit by year

Net profit by year, ₹ crore
Mar 2017₹55.00 Cr
Mar 2018₹71.00 Cr
Mar 2019₹65.00 Cr
Mar 2020₹96.00 Cr
Mar 2021₹136 Cr
Mar 2022₹147 Cr
Mar 2023₹179 Cr
Mar 2024₹258 Cr
Mar 2025₹339 Cr
Mar 2026₹321 Cr

Analyst Forecasts

Forecast For
Sep 26 consensus · EBITDA
₹135 Cr −15.7% vs Jun 26
Reported High Mean Low

AI Analysis — Bull vs Bear

Figures as of 4 Nov 2026
AI opinion · based on fundamentals
Risk medium

Poly Medicure Ltd trades at ₹1,586.8 as of 2026-11-04 with a market cap of ₹15,324.84 crore and a P/E of 51.04x. The company has delivered strong compounded sales growth of 19% over 5 years but TTM profit has declined 11%, and return on equity has trended lower from a 10-year average of 15% to 9% in the last year.

Bull Case 7
  • Consistent revenue compounder — compounded sales growth stands at 19% over both 3-year and 5-year periods, indicating sustained demand for its medical devices portfolio
  • Long-term profit growth remains healthy at 19% CAGR over the past 10 years, reflecting a durable business model
  • Near debt-free balance sheet with a debt-to-equity ratio of just 0.11, providing significant financial flexibility for capacity expansion
  • TTM revenue growth of 18% shows the top-line momentum remains intact even in the most recent period
  • 10-year stock CAGR of 22% demonstrates long-term wealth creation track record for shareholders
  • ROCE of 13.33% as of 2026-11-04 suggests the company earns reasonable returns on total capital employed despite recent margin pressure
  • 5-year compounded profit growth of 14% continues to outpace inflation meaningfully, indicating real earnings expansion over time
Bear Case 8
  • P/E of 51.04x as of 2026-11-04 is significantly elevated, pricing in substantial future growth and leaving little room for execution misses
  • TTM profit has declined 11% even as sales grew 18%, signalling meaningful margin compression in the most recent period
  • Return on equity has deteriorated sharply — from a 10-year average of 15% to just 9% last year, with the 3-year average also low at about 12.6%
  • Debtor days have increased from 83.9 to 103 days, indicating deteriorating working capital efficiency and potential collection risks
  • Dividend yield of only 0.23% offers negligible income return relative to the premium valuation
  • 1-year stock return of -20% reflects significant recent underperformance and negative market sentiment
  • Price-to-book ratio of 5.18x is rich, particularly given the declining ROE trajectory which reduces the justification for a high book-value premium
  • 3-year stock CAGR of just 4% suggests the market has already been repricing the stock lower amid slowing profit growth

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

8d ago

TL;DR: Limited recent news flow for Poly Medicure with only a routine trading window closure ahead of Q2FY27 results. No material headwinds or positive catalysts have emerged in the latest coverage. Investors should watch for Q2FY27 earnings release for the next directional signal.

Neutral 1
  • Trading window closed for Q2FY27 Sep 28

    Poly Medicure closed its trading window from October 1, 2026, until 48 hours after declaring Q2FY27 financial results. This is a routine regulatory compliance measure under SEBI insider trading regulations.

Quarterly Results

₹ Cr
POLYMED quarterly results, ₹ crore
Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales
321
337
340
378
385
420
424
441
403
444
494
535
525
Expenses
234
253
249
282
281
305
310
321
298
329
382
424
400
Operating Profit
87
84
90
96
104
115
114
119
106
115
111
110
125
OPM %
27%
25%
27%
26%
27%
27%
27%
27%
26%
26%
23%
21%
24%
Other Income
14
15
17
15
17
27
24
27
43
33.94
21
19
33.41
Interest
2
2
3
3
3
3
3
2
3
3
6
6
6
Depreciation
16
16
16
16
20
21
21
21
23
25
29
38
36
PBT
83
81
88
92
98
118
113
123
123
122
95.93
85
116
Tax %
24%
23%
26%
26%
25%
26%
25%
25%
24%
25%
27%
24%
27%
Net Profit
63
62
65
68
74
87
85
92
93
92
71
65
85
EPS (₹)
6.54
6.48
6.78
7.12
7.71
8.63
8.41
9.06
9.19
9.06
7
6.54
8.49

Profit & Loss

₹ Cr
POLYMED profit and loss, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
390
411
454
519
610
687
785
922
1,115
1,375
1,670
1,875
1,997
Expenses
304
323
361
397
479
520
569
707
847
1,014
1,213
1,429
1,536
Operating Profit
86
88
93
122
131
166
216
215
267
361
456
446
461
OPM %
22%
21%
21%
23%
22%
24%
28%
23%
24%
26%
27%
24%
23%
Other Income
28
8
14
16
20
21
22
40
38
60
94
119
110
Interest
10
10
8
12
14
20
11
6
11
14
12
21
22
Depreciation
19
21
24
29
37
41
48
54
57
63
83
116
128
PBT
85
65
75
97
100
126
180
195
237
344
453
427
422
Tax %
27%
27%
27%
27%
35%
24%
25%
25%
25%
25%
25%
25%
—
Net Profit
62
48
55
71
65
96
136
147
179
258
339
321
313
EPS (₹)
7.07
5.47
6.25
8
7.41
10.86
14.17
15.28
18.69
26.91
33.41
31.78
31.09
Div. Payout %
18%
27%
40%
25%
27%
18%
18%
16%
16%
11%
10%
11%
—

Balance Sheet

₹ Cr
POLYMED balance sheet, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
22
22
44
44
44
44
48
48
48
48
51
51
Reserves
174
207
227
294
337
391
918
1,040
1,194
1,422
2,715
3,055
Borrowings
79
82
101
133
161
207
137
127
149
174
180
354
Other Liabilities
89
76
85
94
112
126
121
163
187
215
246
401
Total Liabilities
364
387
457
565
654
767
1,224
1,377
1,577
1,859
3,192
3,861
Fixed Assets
165
182
207
265
306
363
426
488
635
867
1,084
1,694
CWIP
10
14
20
18
19
25
21
43
78
76
101
99
Investments
4
4
3
17
8
25
354
346
126
167
1,076
755
Other Assets
185
187
227
264
321
354
422
499
738
748
930
1,313
Total Assets
364
387
457
565
654
767
1,224
1,377
1,577
1,859
3,192
3,861

Cash Flow

₹ Cr
POLYMED cash flow, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
63
63
56
75
106
131
119
123
191
266
233
246
Investing
−59
−31
−56
−88
−101
−109
−436
−85
−179
−241
−1,187
−224
Financing
−6
−31
0
16
−5
−21
317
−35
−13
−20
951
20
Net Cash Flow
−2
1
0
3
1
1
0
3
−1
5
−3
43
Free Cash Flow
13
31
0
−7
31
25
24
−31
−48
−9
−97
−59
CFO/EBITDA
101
88
79
80
102
100
75
80
93
94
71
78

Ratios

POLYMED financial ratios, annual
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
59
74
77
79
77
68
72
82
77
72
76
103
Inventory Days
148
114
194
161
186
241
217
218
237
205
233
323
Days Payable
101
76
131
96
123
142
111
115
105
89
70
91
Cash Conversion Cycle
106
111
140
144
139
166
179
185
209
188
239
335
Working Capital Days
25
35
55
71
56
42
74
81
69
54
75
105
ROCE %
30%
26%
24%
26%
22%
25%
22%
17%
18%
24%
18%
12%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

Log in to view Poly Medicure insights

64 extracted metrics across FY00–FY27.

Shareholding Pattern

As of Sep 2026

  • Promoters 62.42%
  • DIIs 15.90%
  • Public 12.31%
  • FIIs 5.35%
  • Others 4.02%

No promoter shares pledged as of Sep 2026

Change vs previous quarter

Not shown for some quarters: Others. Not available separately for this quarter: the shareholding filing gives Public and Others as one figure, shown under Public, so Others is left blank rather than estimated.

Documents

Frequently Asked Questions about Poly Medicure

What does Poly Medicure Ltd do?
Poly Medicure Limited is an India-based manufacturer and exporter of medical devices. The Company exports plastic medical disposables/surgical devices.
Where is Poly Medicure Ltd (POLYMED) listed?
Poly Medicure Ltd trades as POLYMED on the NSE and under code 531768 on the BSE.
Which sector does Poly Medicure Ltd belong to?
Poly Medicure Ltd is classified under the Healthcare sector, in the Medical Equipment industry.
What is the PE ratio of Poly Medicure Ltd?
Poly Medicure Ltd trades at a PE ratio of 51.04 as of 4 Nov 2026, on earnings per share of ₹31.09, against a book value of ₹306.45 per share.
What is the 52-week high and low of Poly Medicure Ltd?
Over the last 52 weeks Poly Medicure Ltd has traded between ₹1,182 and ₹2,094.3 as of 4 Nov 2026.
Does Poly Medicure Ltd pay dividends?
Poly Medicure Ltd has a dividend yield of 0.23%.
What is the Return on Equity (ROE) of Poly Medicure Ltd?
Poly Medicure Ltd reported a return on equity of 9.02%. Its debt-to-equity ratio is 0.11.

Company Information

Poly Medicure Limited is an India-based manufacturer and exporter of medical devices. The Company exports plastic medical disposables/surgical devices.

Website polymedicure.com
CEO Mr. Himanshu Baid
Employees 3,082
Listed 7 Dec 2011
Face Value ₹5

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