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Poly Medicure Ltd (POLYMED)
Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 531768 NSE: POLYMED Medical Equipment/Supplies/Accessories | Small Cap | Poly Medicure Share Price
₹1,788.25 -26.00 (-1.43%)
As on 14-Aug'26 16:59
Poly Medicure Ltd (POLYMED)
Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 531768 NSE: POLYMED Medical Equipment/Supplies/Accessories | Small Cap | Poly Medicure Share Price
₹1,788.25 -26.00 (-1.43%)
As on 14-Aug'26 16:59
Key Metrics
Valuation Multiples
Market Cap
₹18,126 Cr.
Current Price
₹1,788.3
52-Week Low / High
₹1,184 / 2,144
TTM EPS
₹33.2
TTM Sales
₹1,710 Cr.
Book Value per Share
₹309.1
P/E Ratio
53.92
Lower than its 5-year historical median
Industry PE
120.2
Price to Book (P/B)
5.78
Lower than its 5-year historical median
Price to Sales (P/S)
10.60
Lower than its 5-year historical median
EV/EBITDA
32.02
Lower than its 5-year historical median
Dividend Yield
0.2%
Profitability Efficiency
Return on Equity (ROE)
11.61%
Underperforms industry median
Return on Capital Employed (ROCE)
14.91%
Underperforms industry median
Return on Assets (ROA)
9.78%
Operating Profit Margin
28%
Net Profit Margin
20.21%
Gross Profit Margin
33%
Growth Momentum
1-yr vs 3-yr growth
1-yr vs 3-yr growth
Sales Growth (1 Year)
Improving versus 3-year growth rate
22.53%
Operating Profit Growth (1 Year)
Slowing versus 3-year growth rate
-1.08%
Net Profit Growth (1 Year)
Slowing versus 3-year growth rate
1.4%
Asset Quality
Promoter Holding
62.42%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹3,083 Cr.
Equity
₹50.7 Cr.
Face Value
₹5
All Time Low / High
₹0.50 / 3350.00
Check Before You Invest
Quality
Very GoodValuation
FairCheck Valuation charts
Price Trend
Strong
Is Poly Medicure Ltd a good quality company?
Poly Medicure Ltd is a good quality company, based on a consistently good multi-year financial track record.
This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.
We have analysed the performance of the company on the following:
-
How has it performed on generating Profits?
By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.
-
How efficiently has it utilized Capital?
By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.
-
How is it managing its Debt?
By checking its Debt to Equity and Cash Flow from Operations.
How does Poly Medicure Ltd performance compare with that of its Peers?
Revenue growth of Poly Medicure Ltd vs industry peers?
Poly Medicure Ltd revenue CAGR is 19.91%, compared to the industry median CAGR of 0%, indicating faster growth and gaining its market share.
Promoter shareholding and pledge status of Poly Medicure Ltd?
Promoters hold 62.42% of the Poly Medicure Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Stock return of Poly Medicure Ltd over the last decade?
Over the last 9 year(s), the stock has delivered a CAGR of 24.6% based on the current price.
10 Year X-Ray :
Analysis of Financial Track Record (Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end)
Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year endData adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
What is a Financial Track Record? How to read this chart in order to understand the data present here?
Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Poly Medicure Ltd has performed well in majority of the past ten years indicating its past ten year financial track record is very good
Value Creation ⓘ
| Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % ⓘ | 26.1% | 25.3% | 26% | 22.9% | 24.6% | 21.6% | 17.7% | 19.3% | 23.3% | 20.1% | - |
| Value Creation Index ⓘ | 0.9 | 0.8 | 0.9 | 0.6 | 0.8 | 0.6 | 0.3 | 0.4 | 0.7 | 0.8 | - |
Growth Parameters ⓘ |
|||||||||||
| Sales ⓘ | 394 | 440 | 508 | 587 | 646 | 747 | 879 | 1,068 | 1,307 | 1,602 | 1,710 |
| Sales YoY Gr. | - | 11.4% | 15.7% | 15.4% | 10.1% | 15.7% | 17.7% | 21.5% | 22.4% | 22.5% | - |
| Adj EPS ⓘ | 5 | 5.6 | 7.1 | 6.9 | 9.6 | 12.9 | 14.3 | 17.9 | 25 | 31.2 | 33.2 |
| YoY Gr. | - | 12.4% | 27.1% | -3.1% | 39.4% | 34% | 10.7% | 25.6% | 39.6% | 24.6% | - |
| BVPS (₹) ⓘ | 25.4 | 30.5 | 37.9 | 43 | 48.6 | 99.4 | 112.1 | 128.4 | 151.6 | 270.6 | 309.1 |
| Adj Net Profit ⓘ | 44 | 49.5 | 62.9 | 60.9 | 85 | 124 | 137 | 172 | 240 | 316 | 336 |
| Cash Flow from Ops. ⓘ | 61.9 | 55 | 75.5 | 113 | 127 | 116 | 126 | 197 | 256 | 230 | - |
| Debt/CF from Ops. ⓘ | 1.3 | 1.8 | 1.7 | 1.3 | 1.5 | 1.1 | 0.9 | 0.7 | 0.6 | 0.7 | - |
CAGR ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | 16.9% | 19.9% | 22.1% | 22.5% | ||||
| Adj EPS ⓘ | 22.6% | 26.5% | 29.8% | 24.6% | ||||
| BVPSⓘ | 30.1% | 41% | 34.1% | 78.5% | ||||
| Share Price | 24.6% | 15.3% | 8.6% | -5.9% | ||||
Key Financial Parameters ⓘ
| Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity % ⓘ | 21.2 | 20.1 | 20.8 | 17.1 | 21 | 17.9 | 13.5 | 14.9 | 17.8 | 15 | 11.4 |
| Op. Profit Mgn % ⓘ | 21.9 | 21.4 | 23.9 | 22.8 | 25.1 | 28.2 | 24.3 | 25.3 | 26.9 | 28 | 27.2 |
| Net Profit Mgn % ⓘ | 11.2 | 11.3 | 12.4 | 10.4 | 13.2 | 16.5 | 15.6 | 16.1 | 18.4 | 19.7 | 19.7 |
| Debt to Equity ⓘ | 0.4 | 0.4 | 0.4 | 0.4 | 0.4 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | - |
| Working Cap Days ⓘ | 144 | 146 | 157 | 159 | 173 | 182 | 177 | 173 | 167 | 165 | 182 |
| Cash Conv. Cycle ⓘ | 67 | 75 | 80 | 80 | 78 | 78 | 89 | 92 | 87 | 93 | 136 |
Valuation of Poly Medicure - Standalone
Analyst's Notes
No data found!
Management X-Ray
Shareholding Pattern
Promoter's Holding & Share Pledging
| Pledged * | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
* Pledged shares as % of Promoter's holding (%)
Financials
| PARTICULARS | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 439 | 508 | 587 | 646 | 747 | 879 | 1,068 | 1,307 | 1,602 | 1,662 |
| Operating Expenses ⓘ + | 345 | 387 | 453 | 484 | 537 | 665 | 802 | 956 | 1,154 | 1,219 |
| Operating Profit ⓘ | 94 | 122 | 134 | 162 | 210 | 214 | 266 | 351 | 448 | 443 |
| Operating Profit Margin (%) | 21.4% | 23.9% | 22.8% | 25.1% | 28.1% | 24.3% | 24.9% | 26.9% | 28.0% | 26.7% |
| Other Income ⓘ + | 14 | 14 | 16 | 19 | 19 | 39 | 36 | 58 | 90 | 125 |
| Interest ⓘ | 8 | 11 | 13 | 20 | 10 | 5 | 10 | 13 | 14 | 16 |
| Depreciation ⓘ | 23 | 28 | 36 | 39 | 46 | 53 | 56 | 62 | 81 | 98 |
| Profit Before Tax ⓘ | 76 | 96 | 100 | 122 | 173 | 195 | 237 | 335 | 443 | 448 |
| Tax ⓘ | 20 | 26 | 34 | 29 | 44 | 49 | 58 | 83 | 112 | 112 |
| Profit After Tax | 56 | 70 | 66 | 92 | 130 | 146 | 179 | 252 | 331 | 336 |
| PAT Margin (%) | 12.8% | 13.8% | 11.3% | 14.3% | 17.3% | 16.6% | 16.8% | 19.3% | 20.7% | 20.2% |
| Adjusted EPS (₹) | 6.4 | 8.0 | 7.5 | 10.5 | 13.5 | 15.2 | 18.7 | 26.2 | 32.7 | 33.2 |
| Dividend Payout Ratio (%) | 39.30% | 25.10% | 26.60% | 19.10% | 18.50% | 16.40% | 16.10% | 11.40% | 10.70% | 10.60% |
| PARTICULARS | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | |||||||||||
| Shareholders Fund + | 269 | 334 | 379 | 429 | 953 | 1,075 | 1,232 | 1,455 | 2,742 | 3,045 | |
| Debt + | 76 | 106 | 127 | 155 | 91 | 81 | 112 | 146 | 167 | 245 | |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| Trade Payables | 41 | 43 | 50 | 60 | 56 | 78 | 78 | 89 | 77 | 85 | |
| Others Liabilities ⓘ | 63 | 71 | 105 | 128 | 131 | 100 | 173 | 204 | 242 | 266 | |
| Total Liabilities ⓘ | 449 | 555 | 661 | 772 | 1,231 | 1,334 | 1,596 | 1,894 | 3,228 | 3,641 | |
Fixed Assets | |||||||||||
| Net Fixed Assets ⓘ + | 200 | 256 | 269 | 324 | 385 | 447 | 597 | 831 | 1,047 | 1,217 | |
| CWIP ⓘ | 20 | 18 | 19 | 25 | 21 | 43 | 78 | 71 | 93 | 96 | |
| Investments ⓘ | 6 | 18 | 42 | 58 | 385 | 384 | 181 | 221 | 1,126 | 1,243 | |
| Inventories | 58 | 69 | 74 | 101 | 109 | 150 | 183 | 193 | 250 | 281 | |
| Trade Receivables | 95 | 112 | 124 | 120 | 149 | 191 | 221 | 259 | 340 | 442 | |
| Cash Equivalents | 22 | 20 | 53 | 22 | 27 | 8 | 171 | 137 | 143 | 43 | |
| Others Assets ⓘ | 47 | 61 | 80 | 122 | 154 | 110 | 165 | 183 | 228 | 319 | |
| Total Assets ⓘ | 449 | 555 | 661 | 772 | 1,231 | 1,334 | 1,596 | 1,894 | 3,228 | 3,641 | |
| PARTICULARS | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ + | 55 | 75 | 113 | 127 | 116 | 126 | 197 | 256 | 230 | 245 |
| Cash Flow From Investing Activity ⓘ + | -54 | -87 | -104 | -106 | -434 | -89 | -189 | -237 | -1,184 | -268 |
| Cash Flow From Financing Activity ⓘ + | -1 | 14 | -10 | -22 | 319 | -40 | -8 | -17 | 953 | 28 |
| Net Cash Flow ⓘ | 0 | 3 | -1 | -1 | 1 | -2 | -0 | 2 | -2 | 5 |
| PARTICULARS | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | Mar'26 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 22.81 | 23.28 | 18.58 | 22.85 | 18.74 | 14.4 | 15.52 | 18.74 | 15.79 | 11.61 |
| ROCE (%) | 25.3 | 25.96 | 22.92 | 24.64 | 21.62 | 17.68 | 19.34 | 23.28 | 20.14 | 14.91 |
| Asset Turnover Ratio | 1.08 | 1.02 | 0.97 | 0.91 | 0.75 | 0.69 | 0.73 | 0.75 | 0.63 | 0.49 |
| PAT to CFO Conversion(x) | 0.98 | 1.07 | 1.71 | 1.38 | 0.89 | 0.86 | 1.1 | 1.02 | 0.69 | 0.73 |
| Working Capital Days | ||||||||||
| Receivable Days | 72 | 74.20 | 73 | 68.80 | 65.40 | 70.30 | 70.20 | 66.80 | 68 | 85.30 |
| Inventory Days | 40.30 | 45.30 | 44.10 | 49.20 | 51.10 | 53.60 | 56.70 | 52.30 | 50.20 | 57.90 |
| Payable Days | 117.30 | 126.80 | 111.50 | 131.40 | 107.80 | 93.60 | 94.80 | 83.90 | 71.30 | 69.50 |
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Poly Medicure Ltd FAQs
The current trading price of Poly Medicure on 14-Aug-2026 16:59 is ₹1,788.3.
Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 13-Aug-2026 the market cap of Poly Medicure stood at ₹18,126 Cr
The latest P/E ratio of Poly Medicure as of 13-Aug-2026 is 53.92.
The latest P/B ratio of Poly Medicure as of 13-Aug-2026 is 5.78.
The 52-week high of Poly Medicure is ₹2,143.6 and the 52-week low is ₹1,184.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Poly Medicure is ₹1,710 ( Cr.) .
Past 10 year's financial track record analysis by Moneyworks4me indicates that Poly Medicure Ltd is a good quality company.
The key valuation ratios of Poly Medicure Ltd's currently when compared to its past seem to suggest it is in the Fair zone.
The Price Trend analysis by MoneyWorks4Me indicates it is Strong which suggest that the price of Poly Medicure Ltd is likely to Rise in the short term. However, please check the rating on Quality and Valuation before investing
About Poly Medicure Ltd
Poly Medicure (Polymed) is a leading player in the organized medical disposable devices market with strong brand positioning due to high quality products used in infusion therapy, blood management, surgery, dialysis, and other segments. The quality of products is maintained through automation and high degree of engineering in manufacturing process, skilled labor force and high technical expertise.
It manufactures and supplies, in India and internationally, a diverse portfolio of medical devices in the product verticals of infusion therapy, oncology, anesthesia and respiratory care, urology, gastroenterology, vascular access, surgery and wound drainage, dialysis and renal care, diagnostics, transfusion system, veterinary medical devices and others.
Business area of the company
Polymed is a global leader in the medical device industry, renowned for its extensive range of high-quality medical devices. It manufactures and supplies, in India and internationally, a diverse portfolio of medical devices in the product verticals of infusion therapy, oncology, anesthesia and respiratory care, urology, gastroenterology, vascular access, surgery and wound drainage, dialysis and renal care, diagnostics, transfusion system, veterinary medical devices and others.
Product range of the company:
The company manufactures different products related to:
- Infusion Therapy
- Critical Care
- Dialysis
- Cardiology
- Vascular Access
- Oncology
- Diagnostics
- Transfusion System
- Anaesthesia & Respiratory Care
- Urology
- Surgery and Wound Drainage
- Gastroenterology
Awards and accolades
- 2021: “Indian Medical Device Leader of the Year” by Government of India (GOI) for year 2021
- 2022: Top 50 Industrial Innovative Company of the Year 2022 by CII
- 2023: The Next 500 Companies 2023 by Fortune India
- 2023: Best Company for Technology Innovation in Healthcare 2023 by ASSOCHAM
- 2024: Best Healthcare Brands 2024 by ET Edge
- 2024: Top 75 Industrial Innovative Company of the Year 2024 by CII
- 2024: Industrial Intellectual Property Awards 2024 by CII
- 2024: India’s 500 Most Valuable Companies List 2024 by Hurun India
- 2025: Medical Devices Provider of the Year 2025 by Financial Express
Milestones
- 1997: Commencement of Manufacturing Operations
- 2003: Joint Venture in Assuit, Egypt
- 2007: Manufacturing Expansion in Haridwar
- 2009: China Plant- Poly Medicure (Laiyang) Co. Ltd.
- 2014: Manufacturing Expansion in Jaipur
- 2018: Sensing the shortage of equitable and affordable access to kidney care in India and to reduce 100% import dependence on dialysis products, Polymed ventured into manufacturing dialysis equipment and other accessories used in the process. The company manufactured India’s first BIS Certified Made in India dialysis machine and is the first Indigenous Dialyzer Manufacturer in India.
- 2019: Acquired Plan1Health Italy
- 2023: Manufacturing Expansion in Faridabad & Jaipur
- 2024: Introduction of cardiology and critical care verticals
- 2025: Gamma Sterilization Facility
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