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Poly Medicure Overview

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. Cann...Read More

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Poly Medicure Key Financials

Market Cap ₹14873 Cr.

Stock P/E 43.9

P/B 5

Current Price ₹1467.4

Book Value ₹ 294.7

Face Value 5

52W High ₹2936.7

Dividend Yield 0.24%

52W Low ₹ 1184

Poly Medicure Share Price

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Volume
Price

Poly Medicure Quarterly Price

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Poly Medicure Quarterly Results

#(Fig in Cr.) Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025
Net Sales 337 340 378 385 420 424 441 403 444 494
Other Income 14 17 15 17 26 22 24 42 34 26
Total Income 351 356 393 402 446 446 465 445 478 520
Total Expenditure 253 249 282 281 305 310 321 297 329 382
Operating Profit 98 107 111 121 141 136 144 148 149 137
Interest 2 3 3 3 3 3 2 3 3 6
Depreciation 16 16 16 20 21 21 21 23 25 29
Exceptional Income / Expenses 0 0 0 0 0 0 0 0 0 -7
Profit Before Tax 80 87 92 98 117 112 121 122 121 96
Provision for Tax 19 23 24 24 31 28 31 30 30 27
Profit After Tax 61 64 68 74 87 84 90 92 91 69
Adjustments 1 1 0 0 1 2 2 1 1 2
Profit After Adjustments 62 65 68 74 87 85 92 93 92 71
Adjusted Earnings Per Share 6.5 6.8 7.1 7.7 8.6 8.4 9.1 9.2 9.1 7

Poly Medicure Profit & Loss

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 TTM
Net Sales 390 412 455 520 611 687 786 923 1115 1376 1670 1782
Other Income 8 8 14 14 18 18 18 38 36 59 89 126
Total Income 398 421 469 535 629 706 805 961 1151 1435 1759 1908
Total Expenditure 304 325 362 398 480 521 570 708 848 1016 1215 1329
Operating Profit 94 96 107 136 150 185 235 253 304 419 544 578
Interest 10 10 9 12 14 20 11 6 11 14 14 14
Depreciation 19 21 24 29 37 41 48 54 57 63 83 98
Exceptional Income / Expenses 20 0 0 0 0 0 0 0 0 0 0 -7
Profit Before Tax 85 65 75 97 100 126 180 195 237 344 453 460
Provision for Tax 23 18 20 26 35 30 44 49 58 86 114 118
Profit After Tax 62 47 55 71 65 96 136 147 179 258 339 342
Adjustments 1 1 0 0 0 0 0 0 0 0 0 6
Profit After Adjustments 62 48 55 71 65 96 136 147 179 258 339 348
Adjusted Earnings Per Share 7.1 5.5 6.2 8 7.4 10.9 14.2 15.3 18.7 26.9 33.4 34.4

Growth Rates

# 1 Year 3 Year 5 Year 10 Year
Sales CAGR 21% 22% 19% 16%
Operating Profit CAGR 30% 29% 24% 19%
PAT CAGR 31% 32% 29% 19%
# 1 Year 3 Year 5 Year 10 Year
Share Price CAGR -39% 16% 11% 26%
ROE Average 16% 17% 17% 21%
ROCE Average 20% 21% 21% 24%

Poly Medicure Balance Sheet

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Shareholder's Funds 196 229 272 338 381 435 966 1087 1242 1470 2766
Minority's Interest -0 -0 -0 -0 0 0 0 0 0 0 0
Borrowings 40 31 48 79 91 114 63 38 18 1 0
Other Non-Current Liabilities 15 18 24 25 28 25 23 25 25 37 56
Total Current Liabilities 113 109 114 123 181 225 215 227 351 425 458
Total Liabilities 364 387 457 565 682 800 1267 1377 1635 1932 3280
Fixed Assets 165 182 206 262 303 359 421 484 634 867 1084
Other Non-Current Assets 39 34 46 48 50 90 98 109 136 150 191
Total Current Assets 160 171 205 255 329 350 748 783 865 915 2005
Total Assets 364 387 457 565 682 800 1267 1377 1635 1932 3280

Poly Medicure Cash Flow

#(Fig in Cr.) Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Opening Cash & Cash Equivalents 14 12 1 1 4 4 5 5 8 7 12
Cash Flow from Operating Activities 63 63 56 75 106 128 119 123 191 266 240
Cash Flow from Investing Activities -59 -31 -56 -88 -101 -107 -436 -85 -179 -241 -1194
Cash Flow from Financing Activities -6 -31 -0 16 -5 -21 317 -35 -13 -20 951
Net Cash Inflow / Outflow -2 1 0 3 1 1 0 3 -1 5 -3
Closing Cash & Cash Equivalent 12 13 1 4 4 5 5 8 7 12 9

Poly Medicure Ratios

# Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Earnings Per Share (Rs) 7.06 5.47 6.25 8 7.41 10.86 14.17 15.28 18.69 26.91 33.41
CEPS(Rs) 9.12 7.76 8.94 11.32 11.64 15.46 19.13 20.9 24.64 33.52 41.57
DPS(Rs) 1.25 1.5 2.5 2 2 2 2.5 2.5 3 3 3.5
Book NAV/Share(Rs) 22.24 25.91 30.75 38.3 43.19 49.26 100.62 113.24 129.17 152.82 272.72
Core EBITDA Margin(%) 21.78 21 20.24 23.38 21.37 24.06 27.39 23.19 23.88 26.07 27.14
EBIT Margin(%) 24.04 17.94 18.16 20.77 18.53 21.18 24.13 21.72 22.18 25.91 27.84
Pre Tax Margin(%) 21.45 15.56 16.28 18.55 16.29 18.21 22.78 21.05 21.21 24.93 26.98
PAT Margin (%) 15.6 11.36 11.94 13.53 10.65 13.89 17.19 15.8 16.01 18.7 20.19
Cash Profit Margin (%) 20.35 16.39 17.07 19.14 16.72 19.76 23.2 21.62 21.12 23.29 25.11
ROA(%) 18.97 12.64 13.06 13.82 10.49 12.95 13.15 11.08 11.9 14.48 12.99
ROE(%) 36.03 22.35 22.05 23.18 18.19 23.51 19.42 14.29 15.42 19.09 16.01
ROCE(%) 38.9 25.59 24.54 25.69 22.47 24.8 21.96 17.42 19.1 23.63 20.37
Receivable days 50.14 63.66 70.54 72.79 71.59 67.54 65.34 71.34 72.05 66.78 67.43
Inventory Days 46.02 45.25 42.65 47.2 46.59 51.78 55.09 58.03 61.45 56.78 55.13
Payable days 113.87 112.26 113.62 125.16 109.77 130.86 112.43 99.52 102.88 87.19 74.3
PER(x) 35.43 25.7 43.57 31.25 29.28 21.68 57.69 62.11 51.01 59.04 67.1
Price/Book(x) 11.26 5.43 8.85 6.53 5.03 4.78 8.13 8.38 7.38 10.4 8.22
Dividend Yield(%) 0.5 1.07 0.92 0.8 0.92 0.85 0.31 0.26 0.31 0.19 0.16
EV/Net Sales(x) 5.81 3.16 5.45 4.46 3.31 3.28 10.1 9.98 8.17 11.1 13.62
EV/Core EBITDA(x) 24.07 13.55 23.17 17.01 13.5 12.22 33.82 36.41 30.02 36.47 41.79
Net Sales Growth(%) 21.13 5.61 10.37 14.38 17.37 12.51 14.44 17.37 20.82 23.36 21.37
EBIT Growth(%) 30.82 -21.07 11.82 29.18 5.07 28.45 30.43 5.62 23.31 44.08 30.46
PAT Growth(%) 40.02 -23 16.12 28.06 -7.36 46.6 41.72 7.82 22.37 44.05 31.09
EPS Growth(%) 38.06 -22.55 14.21 28.06 -7.37 46.59 30.43 7.8 22.32 44.01 24.16
Debt/Equity(x) 0.4 0.36 0.37 0.39 0.42 0.47 0.14 0.12 0.12 0.12 0.06
Current Ratio(x) 1.42 1.56 1.8 2.08 1.82 1.55 3.48 3.46 2.46 2.16 4.38
Quick Ratio(x) 0.9 1.14 1.26 1.49 1.35 1.06 2.89 2.71 1.87 1.63 3.76
Interest Cover(x) 9.27 7.54 9.67 9.36 8.28 7.14 17.92 32.68 22.87 26.38 32.59
Total Debt/Mcap(x) 0.04 0.07 0.04 0.06 0.08 0.1 0.02 0.01 0.02 0.01 0.01

Poly Medicure Shareholding Pattern

# Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025
Promoter 53.16 53.16 53.15 66.03 62.56 62.44 62.44 62.44 62.42 62.42
FII 14.49 14.1 12.38 9.91 11.86 12.31 11.44 11.41 9.77 9.4
DII 5.15 5.45 7.22 9.35 12.35 11.68 11.98 11.72 13.54 13.84
Public 27.2 27.29 27.26 14.72 13.24 13.57 14.15 14.44 14.27 14.34
Others 0 0 0 0 0 0 0 0 0 0
Total 100 100 100 100 100 100 100 100 100 100

Poly Medicure News

Poly Medicure Pros & Cons

Pros

  • Company has delivered good profit growth of 28% CAGR over last 5 years
  • Debtor days have improved from 87.19 to 74.3days.
  • Company has reduced debt.
  • Company is almost debt free.

Cons

  • Stock is trading at 5 times its book value.
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