POLYMED

Poly Medicure Limited

Medical devices and consumables manufacturer and exporter

Healthcare›Healthcare›Healthcare Equipment & Supplies›Medical Equipment & Supplies

polymedicure.com(opens the company website in a new tab)
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Key metrics

Price as of 2026-10-19

Stock price
₹1550.70
Market cap
15,713 Cr
Stock P/E
49.9
P/B
5.06
Dividend yield
0.2%
ROE (FY26)
10.2%
ROCE (FY26)
12.8%
Operating margin (FY26)
17.4%
Debt / equity (FY26)
0.11
OCF / EBITDA (FY26)
54.4%
OCF / EBITDA (3Y)
59.7%

Full years shown; sign in free for the trailing twelve months. Learn about these metrics →

Price & valuation

Share price and valuation multiples (P/E, P/B and more) over time.

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Compare with peers

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What you need to know

Polymed (Poly Medicure) makes and sells medical devices and consumables, with renal care, cardiology, orthopedics, critical care and infusion and vascular access lines, selling in India, Europe and other export markets.

Company snapshot

2ndBy market cap

Ranked among 8 companies in Medical Equipment & Supplies.

What we see

Positives
  • ✓Net margin of 17.1% — the business keeps a healthy share of every rupee it earns.
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Statement tables · Consolidated

Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.

Amounts in ₹ Cr · tap + to expand rows

Quarterly results

Quarterly · ₹ Cr · tap + rows to expand

MetricSept 2023Dec 2023Mar 2024Jun 2024Sept 2024Dec 2024Mar 2025Jun 2025Sept 2025Dec 2025Mar 2026Jun 2026
Sales337 Cr340 Cr378 Cr385 Cr420 Cr424 Cr441 Cr403 Cr444 Cr494 Cr535 Cr525 Cr
Operating expenses (approx.)253 Cr249 Cr281 Cr281 Cr305 Cr310 Cr321 Cr297 Cr329 Cr382 Cr424 Cr400 Cr
EBITDA84 Cr90 Cr97 Cr104 Cr115 Cr115 Cr119 Cr106 Cr115 Cr111 Cr110 Cr125 Cr
OPM %25.0%26.6%25.5%27.0%27.5%27.0%27.1%26.3%25.8%22.5%20.7%23.8%
Other income14 Cr17 Cr15 Cr17 Cr26 Cr22 Cr24 Cr42 Cr34 Cr26 Cr18 Cr33 Cr
Interest2 Cr3 Cr3 Cr3 Cr3 Cr3 Cr2 Cr3 Cr3 Cr6 Cr6 Cr7 Cr
Depreciation16 Cr16 Cr16 Cr20 Cr21 Cr22 Cr21 Cr23 Cr25 Cr29 Cr38 Cr36 Cr
Profit before tax81 Cr88 Cr92 Cr98 Cr118 Cr113 Cr123 Cr123 Cr122 Cr98 Cr85 Cr117 Cr
Tax %23.2%26.0%26.1%24.8%25.9%24.7%25.2%24.3%24.6%27.5%23.7%27.3%
Net profit62 Cr65 Cr68 Cr74 Cr87 Cr85 Cr92 Cr93 Cr92 Cr71 Cr65 Cr85 Cr
EPS (₹)₹6.48₹6.78₹7.12₹7.71₹9.01₹8.48₹8.92₹9.19₹9.06₹7.00₹6.54₹8.49

Profit & loss (annual)

Annual · last column is TTM · ₹ Cr · tap + to expand

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales462 Cr522 Cr611 Cr687 Cr786 Cr923 Cr1,115 Cr1,376 Cr1,670 Cr1,875 CrSign in free for the trailing twelve months
Operating expenses (approx.)370 Cr401 Cr481 Cr523 Cr572 Cr710 Cr850 Cr1,018 Cr1,217 Cr1,433 CrSign in free for the trailing twelve months
EBITDA92 Cr120 Cr129 Cr164 Cr214 Cr213 Cr265 Cr358 Cr453 Cr442 CrSign in free for the trailing twelve months
OPM %19.9%23.1%21.2%23.9%27.3%23.1%23.8%26.0%27.1%23.6%Sign in free for the trailing twelve months
Other income13 Cr14 Cr18 Cr18 Cr18 Cr38 Cr36 Cr59 Cr89 Cr120 CrSign in free for the trailing twelve months
Interest7 Cr10 Cr12 Cr18 Cr9 Cr4 Cr9 Cr11 Cr12 Cr18 CrSign in free for the trailing twelve months
Depreciation24 Cr29 Cr37 Cr41 Cr48 Cr54 Cr57 Cr64 Cr83 Cr116 CrSign in free for the trailing twelve months
Profit before tax75 Cr97 Cr100 Cr126 Cr180 Cr195 Cr237 Cr344 Cr453 Cr427 CrSign in free for the trailing twelve months
Tax %26.7%27.0%34.6%23.7%24.5%25.0%24.5%25.0%25.2%25.0%Sign in free for the trailing twelve months
Net profit55 Cr71 Cr65 Cr96 Cr136 Cr147 Cr179 Cr258 Cr339 Cr321 CrSign in free for the trailing twelve months
EPS (₹)₹6.25₹8.00₹7.41₹10.86₹15.25₹15.28₹18.69₹26.92₹34.13₹31.79Sign in free for the trailing twelve months
Dividend payout %————0.0%16.3%13.4%11.1%9.0%11.0%Sign in free for the trailing twelve months
Sign in free for the trailing twelve months

The latest four quarters added up, next to each full year

Balance sheet

Annual · ₹ Cr · tap + rows to expand

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity capital44 Cr44 Cr44 Cr44 Cr48 Cr48 Cr48 Cr48 Cr51 Cr51 Cr
Reserves227 Cr294 Cr337 Cr391 Cr918 Cr1,040 Cr1,194 Cr1,422 Cr2,715 Cr3,055 Cr
Borrowings80 Cr111 Cr137 Cr168 Cr102 Cr125 Cr146 Cr170 Cr178 Cr342 Cr
Other liabilities105 Cr115 Cr136 Cr165 Cr156 Cr164 Cr189 Cr218 Cr249 Cr428 Cr
Total liabilities457 Cr565 Cr654 Cr767 Cr1,224 Cr1,377 Cr1,577 Cr1,859 Cr3,192 Cr3,919 Cr
Fixed assets (net)194 Cr249 Cr261 Cr312 Cr374 Cr439 Cr587 Cr819 Cr1,038 Cr1,255 Cr
CWIP12 Cr10 Cr9 Cr17 Cr15 Cr37 Cr73 Cr67 Cr90 Cr91 Cr
Investments3 Cr17 Cr11 Cr29 Cr359 Cr350 Cr127 Cr168 Cr1,077 Cr755 Cr
Loans & advances——0.23 Cr0.14 Cr0.33 Cr0.34 Cr0.30 Cr0.23 Cr0.33 Cr0.74 Cr
Inventories62 Cr73 Cr84 Cr112 Cr126 Cr168 Cr209 Cr221 Cr286 Cr434 Cr
Trade receivables96 Cr113 Cr128 Cr127 Cr156 Cr207 Cr235 Cr270 Cr350 Cr531 Cr
Cash & bank1 Cr4 Cr4 Cr5 Cr5 Cr8 Cr7 Cr12 Cr9 Cr51 Cr
Other assets90 Cr100 Cr156 Cr165 Cr188 Cr168 Cr339 Cr302 Cr343 Cr801 Cr
Total assets457 Cr565 Cr654 Cr767 Cr1,224 Cr1,377 Cr1,577 Cr1,859 Cr3,192 Cr3,919 Cr

Cash flows

Annual · ₹ Cr · tap + rows to expand · last column includes FCF

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from operating activity56 Cr75 Cr106 Cr131 Cr119 Cr123 Cr191 Cr266 Cr241 Cr241 Cr
Cash from investing-56 Cr-88 Cr-101 Cr-109 Cr-436 Cr-85 Cr-179 Cr-241 Cr-1,191 Cr-225 Cr
Cash from financing-0.28 Cr16 Cr-5 Cr-21 Cr317 Cr-35 Cr-13 Cr-20 Cr953 Cr20 Cr
Net cash flow0.11 Cr3 Cr0.62 Cr0.54 Cr0.10 Cr3 Cr-0.69 Cr5 Cr3 Cr37 Cr
Free cash flow (OCF − Capex)-3 Cr-8 Cr28 Cr24 Cr24 Cr-32 Cr-48 Cr-11 Cr-84 Cr-68 Cr

Ratios

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %23.3%23.7%21.6%23.9%17.7%16.5%17.7%21.7%15.8%12.8%
ROE %20.3%20.9%17.1%22.0%14.1%13.5%14.4%17.6%12.2%10.2%
Debtor days757977687281777276103
Inventory days150155156182173174179174182263
Days payable10193104108889279755574
Cash conversion cycle124141129142157163177170203292
OCF / EBITDA %61.1%62.3%82.3%79.6%55.4%57.9%71.9%74.3%53.2%54.4%
OCF / EBITDA % (3 years)——69.5%75.4%70.1%63.0%62.5%69.4%64.8%59.7%
Debt / equity0.290.330.360.390.110.120.120.120.060.11
Current ratio1.802.081.961.614.123.462.752.405.183.37
Net debt / EBITDA0.860.891.020.990.450.550.530.440.370.66