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Consolidated Standalone

Poly Medicure

₹1603.2 14.4 | 0.9%

Market Cap ₹15386 Cr.

Stock P/E 61.8

P/B 11

Current Price ₹1603.2

Book Value ₹ 146.1

Face Value 5

52W High ₹1727

Dividend Yield 0.19%

52W Low ₹ 945

Edit Ratio

Poly Medicure Research see more...

Overview Inc. Year: 1995Industry: Medical Equipment/Supplies/Accessories

Poly Medicure Ltd is an totally India-based producer and exporter of medical devices. The Company exports plastic medical disposables/surgical gadgets. It manufactures and resources approximately 100 forms of disposable scientific gadgets in the product verticals of Infusion Therapy, Anesthesia, Urology, Gastroenterology, Blood Management and Blood Collection, Surgery and Wound Drainage, Dialysis and Central Venous Access Catheters. It supplies its products to approximately 100 international locations. Its merchandise comprises Safety I.V. Cannula with Adva Needle Technology, Style/Mandrin with luer lock, Quick Flashback I.V. Cannula, Central Venous Catheters, Fixed Concentration Mask, Infant Feeding Tube, Suction Catheters, Oxygen Mask with Reservoir, Thoracic Drainage Catheter-Straight, Haemodialysis Catheter, Mucus Extractors and Blood Collection Needle. The Company operates over four manufacturing centres in Faridabad (Haryana), Jaipur (Rajasthan) and Haridwar (Uttarakhand).

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Poly Medicure Share Price

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Peer Comparison

Poly Medicure Quarterly Results

#(Fig in Cr.) Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
Net Sales 223 230 258 249 275 285 307 321 337 340
Other Income 12 7 8 5 9 14 8 13 14 17
Total Income 236 237 266 253 283 299 315 334 351 356
Total Expenditure 173 179 202 202 210 214 224 234 253 249
Operating Profit 63 58 64 51 73 85 92 100 98 107
Interest 0 -1 1 1 0 5 2 2 2 3
Depreciation 13 14 14 14 14 14 15 16 16 16
Exceptional Income / Expenses 0 0 0 0 0 0 0 0 0 0
Profit Before Tax 49 45 49 36 59 66 75 82 80 87
Provision for Tax 12 11 13 9 16 17 16 20 19 23
Profit After Tax 37 34 36 27 43 50 58 62 61 64
Adjustments 1 1 0 0 1 0 1 1 1 1
Profit After Adjustments 38 35 36 27 43 50 59 63 62 65
Adjusted Earnings Per Share 4 3.6 3.8 2.8 4.5 5.2 6.1 6.5 6.5 6.8

Poly Medicure Profit & Loss

#(Fig in Cr.) Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
Net Sales 260 322 390 412 455 520 611 687 786 923 1115 1305
Other Income 0 1 8 8 14 14 18 18 18 38 36 52
Total Income 260 323 398 421 469 535 629 706 805 961 1151 1356
Total Expenditure 207 247 304 325 362 398 480 521 570 708 848 960
Operating Profit 53 77 94 96 107 136 150 185 235 253 304 397
Interest 7 9 10 10 9 12 14 20 11 6 11 9
Depreciation 13 14 19 21 24 29 37 41 48 54 57 63
Exceptional Income / Expenses 0 10 20 0 0 0 0 0 0 0 0 0
Profit Before Tax 33 63 85 65 75 97 100 126 180 195 237 324
Provision for Tax 10 19 23 18 20 26 35 30 44 49 58 78
Profit After Tax 23 44 62 47 55 71 65 96 136 147 179 245
Adjustments 1 1 1 1 0 0 0 0 0 0 0 4
Profit After Adjustments 24 45 62 48 55 71 65 96 136 147 179 249
Adjusted Earnings Per Share 2.8 5.1 7.1 5.5 6.2 8 7.4 10.9 14.2 15.3 18.7 25.9

Growth Rates

# 1 Year 3 Year 5 Year 10 Year
Sales CAGR 21% 18% 16% 16%
Operating Profit CAGR 20% 18% 17% 19%
PAT CAGR 22% 23% 20% 23%
# 1 Year 3 Year 5 Year 10 Year
Share Price CAGR 66% 15% 52% 30%
ROE Average 15% 16% 18% 23%
ROCE Average 19% 19% 21% 26%

Poly Medicure Balance Sheet

#(Fig in Cr.) Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Shareholder's Funds 112 146 196 229 272 338 381 435 966 1087 1242
Minority's Interest -0 -0 -0 -0 -0 -0 0 0 0 0 0
Borrowings 24 39 40 31 48 79 91 114 63 38 18
Other Non-Current Liabilities 10 12 15 18 24 25 28 25 23 25 25
Total Current Liabilities 68 89 113 109 114 123 181 225 215 227 351
Total Liabilities 214 286 364 387 457 565 682 800 1267 1377 1635
Fixed Assets 92 123 165 182 206 262 303 359 421 484 634
Other Non-Current Assets 28 43 39 34 46 48 50 90 98 109 136
Total Current Assets 94 120 160 171 205 255 329 350 748 783 865
Total Assets 214 286 364 387 457 565 682 800 1267 1377 1635

Poly Medicure Cash Flow

#(Fig in Cr.) Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Opening Cash & Cash Equivalents 1 1 14 12 1 1 4 4 5 5 8
Cash Flow from Operating Activities 39 66 63 63 56 75 106 128 119 123 191
Cash Flow from Investing Activities -31 -58 -59 -31 -56 -88 -101 -107 -436 -85 -179
Cash Flow from Financing Activities -8 5 -6 -31 -0 16 -5 -21 317 -35 -13
Net Cash Inflow / Outflow 0 13 -2 1 0 3 1 1 0 3 -1
Closing Cash & Cash Equivalent 1 14 12 13 1 4 4 5 5 8 7

Poly Medicure Ratios

# Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Earnings Per Share (Rs) 2.75 5.12 7.06 5.47 6.25 8 7.41 10.86 14.17 15.28 18.69
CEPS(Rs) 4.11 6.59 9.12 7.76 8.94 11.32 11.64 15.46 19.13 20.9 24.64
DPS(Rs) 1 2 2.5 3 2.5 2 2 2 2.5 2.5 3
Book NAV/Share(Rs) 12.73 16.57 22.24 25.91 30.78 38.3 43.19 49.26 100.62 113.24 129.17
Core EBITDA Margin(%) 20.03 23.15 21.78 21 20.24 23.38 21.37 24.06 27.39 23.19 23.88
EBIT Margin(%) 15.23 22.21 24.04 17.94 18.16 20.77 18.53 21.18 24.13 21.72 22.18
Pre Tax Margin(%) 12.52 19.31 21.45 15.56 16.28 18.55 16.29 18.21 22.78 21.05 21.21
PAT Margin (%) 8.82 13.46 15.6 11.36 11.94 13.53 10.65 13.89 17.19 15.8 16.01
Cash Profit Margin (%) 13.73 17.76 20.35 16.39 17.07 19.14 16.72 19.76 23.2 21.62 21.12
ROA(%) 11.75 17.59 18.97 12.64 13.06 13.82 10.49 12.95 13.15 11.08 11.9
ROE(%) 22.63 34.1 36.03 22.35 22.04 23.17 18.19 23.51 19.42 14.29 15.42
ROCE(%) 26.73 38.77 38.9 25.59 24.54 25.69 22.47 24.8 21.96 17.42 19.1
Receivable days 53.12 49.74 50.14 63.66 70.54 72.79 71.59 67.54 65.34 71.34 72.05
Inventory Days 45.25 43.18 46.02 45.25 42.65 47.2 46.59 51.78 55.09 58.03 61.45
Payable days 120.72 116.38 113.87 112.26 113.62 125.16 109.77 130.86 112.43 99.52 102.88
PER(x) 20.45 22.1 35.43 25.7 43.57 31.25 29.28 21.68 57.69 62.11 51.01
Price/Book(x) 4.42 6.82 11.26 5.43 8.84 6.53 5.03 4.78 8.13 8.38 7.38
Dividend Yield(%) 0.44 0.88 0.5 1.07 0.92 0.8 0.92 0.85 0.31 0.26 0.31
EV/Net Sales(x) 2.09 3.26 5.81 3.16 5.45 4.46 3.31 3.28 10.1 9.98 8.17
EV/Core EBITDA(x) 10.22 13.67 24.07 13.55 23.17 17.01 13.5 12.22 33.82 36.41 30
Net Sales Growth(%) 19.69 24.06 21.13 5.61 10.37 14.38 17.37 12.51 14.44 17.37 20.82
EBIT Growth(%) 9.86 80.67 30.82 -21.07 11.82 29.18 5.07 28.45 30.43 5.62 23.31
PAT Growth(%) 21.15 89.17 40.02 -23 16.12 28.06 -7.36 46.6 41.72 7.82 22.37
EPS Growth(%) 24.45 86.04 38.06 -22.55 14.21 28.06 -7.37 46.59 30.43 7.8 22.32
Debt/Equity(x) 0.43 0.46 0.4 0.36 0.37 0.39 0.42 0.47 0.14 0.12 0.12
Current Ratio(x) 1.4 1.35 1.42 1.56 1.8 2.08 1.82 1.55 3.48 3.46 2.46
Quick Ratio(x) 0.87 0.88 0.9 1.14 1.26 1.49 1.35 1.06 2.89 2.71 1.87
Interest Cover(x) 5.63 7.67 9.27 7.54 9.67 9.36 8.28 7.14 17.92 32.68 22.87
Total Debt/Mcap(x) 0.1 0.07 0.04 0.07 0.04 0.06 0.08 0.1 0.02 0.01 0.02

Poly Medicure Shareholding Pattern

# Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
Promoter 44.76 44.66 53.34 53.33 53.33 53.31 53.31 53.16 53.16 53.15
FII 14.13 15.07 15.59 16.27 16.33 16.21 15.61 14.49 14.1 12.38
DII 3 3.33 3.25 3.38 3.38 3.67 4.25 5.15 5.45 7.22
Public 38.11 36.94 27.82 27.02 26.96 26.8 26.83 27.2 27.29 27.26
Others 0 0 0 0 0 0 0 0 0 0
Total 100 100 100 100 100 100 100 100 100 100

Pros

  • Company has reduced debt.
  • Company is almost debt free.

Cons

  • Debtor days have increased from 99.52 to 102.88days.
  • Stock is trading at 11 times its book value.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Poly Medicure News

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