Poly Medicure Limited (IN:POLYMED)
:POLYMED
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Poly Medicure Limited
(POLYMED)
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Rating:56Neutral
Price Target:
₹1,558.00
▼(-9.61% Downside)
Action:Reiterated
Date:05/28/26
The score is driven primarily by solid underlying growth and a conservatively levered balance sheet, but it is held back by weak free-cash-flow generation/uneven cash conversion and a recent EBIT decline. Technicals are also weak with the stock trading below major moving averages, and valuation looks demanding given the high P/E and low dividend yield.
Positive Factors
Recurring, volume-driven consumables
Poly Medicure's core products are single-use consumables bought repeatedly in hospitals. This creates durable, repeatable revenue tied to procedure volumes, supporting stable demand, predictable inventory turns, and easier sales planning versus one-off device markets, aiding long-term revenue visibility.
Negative Factors
Weak free-cash-flow conversion
Consistently negative free cash flow and low cash conversion versus reported earnings limit internal funding capacity. Over time this pressures the company's ability to self-finance expansion, pay down any incremental debt, and sustain capital returns without external financing, raising structural funding risk.
Read all positive and negative factors
Positive Factors
Negative Factors
Recurring, volume-driven consumables
Poly Medicure's core products are single-use consumables bought repeatedly in hospitals. This creates durable, repeatable revenue tied to procedure volumes, supporting stable demand, predictable inventory turns, and easier sales planning versus one-off device markets, aiding long-term revenue visibility.
Read all positive factors
Poly Medicure Limited (POLYMED) vs. iShares MSCI India ETF (INDA)
Market Cap
₹155.20B
Dividend Yield0.19%
Average Volume (3M)8.86K
Price to Earnings (P/E)47.5
Beta (1Y)1.00
Revenue Growth12.30%
EPS Growth-7.05%
CountryIN
Employees6,300
SectorHealthcare
Sector Strength45
IndustryMedical - Instruments & Supplies
Share Statistics
EPS (TTM)35.65
Shares Outstanding101,359,490
10 Day Avg. Volume7,511
30 Day Avg. Volume8,860
Financial Highlights & Ratios
PEG Ratio-5.89
Price to Book (P/B)4.19
Price to Sales (P/S)6.93
P/FCF Ratio-216.10
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)38.25
Revenue Forecast (FY)₹23.09B
Poly Medicure Limited Business Overview & Revenue Model
Company Description
Poly Medicure Limited (PML) specializes in the production and distribution of a wide array of medical devices. Its extensive product portfolio encompasses a comprehensive range of infusion equipment, including IV cannulas, midline and arterial cat...
How the Company Makes Money
Poly Medicure primarily makes money by selling single-use (and short-use) medical consumables and device-based disposables to hospitals, healthcare providers, government/ institutional buyers, and distributors in India and overseas. Its revenue mo...
Poly Medicure Limited Financial Statement Overview
Summary
Income Statement
82
Very Positive
Balance Sheet
78
Positive
Cash Flow
46
Neutral
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 17.12B | 18.75B | 16.70B | 13.76B | 11.15B | 9.23B |
| Gross Profit | 10.53B | 7.61B | 11.11B | 8.89B | 7.06B | 5.72B |
| EBITDA | 5.25B | 5.61B | 4.52B | 3.58B | 2.68B | 2.12B |
| Net Income | 3.62B | 3.22B | 3.39B | 2.58B | 1.79B | 1.47B |
Balance Sheet | ||||||
| Total Assets | 35.87B | 39.19B | 31.92B | 18.59B | 15.77B | 13.77B |
| Cash, Cash Equivalents and Short-Term Investments | 11.06B | 8.73B | 12.08B | 2.86B | 3.01B | 3.52B |
| Total Debt | 2.40B | 3.54B | 1.80B | 1.74B | 1.49B | 1.27B |
| Total Liabilities | 6.55B | 7.69B | 4.27B | 3.89B | 3.36B | 2.89B |
| Stockholders Equity | 29.18B | 31.06B | 27.66B | 14.70B | 12.42B | 10.87B |
Cash Flow | ||||||
| Free Cash Flow | -658.89M | -601.71M | -906.06M | -109.34M | -484.49M | -321.05M |
| Operating Cash Flow | 914.43M | 2.48B | 2.40B | 2.66B | 1.91B | 1.23B |
| Investing Cash Flow | -1.23B | -2.43B | -11.94B | -2.41B | -1.79B | -853.32M |
| Financing Cash Flow | 492.71M | 361.45M | 9.51B | -201.53M | -125.05M | -353.38M |
Poly Medicure Limited Technical Analysis
Positive
1723.55
Price Trends
1475.47
Positive
1427.83
Positive
1671.65
Negative
Market Momentum
-3.19
Negative
55.07
Neutral
89.39
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:POLYMED, the sentiment is Positive. The current price of 1723.55 is above the 20-day moving average (MA) of 1438.72, above the 50-day MA of 1475.47, and above the 200-day MA of 1671.65, indicating a neutral trend. The MACD of -3.19 indicates Negative momentum. The RSI at 55.07 is Neutral, neither overbought nor oversold. The STOCH value of 89.39 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:POLYMED.
Poly Medicure Limited Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
69 Neutral | ₹136.63B | 79.72 | ― | 0.08% | 25.91% | 82.23% | |
65 Neutral | ₹109.09B | 90.75 | ― | ― | 70.42% | 270.62% | |
56 Neutral | ₹155.20B | 47.54 | ― | 0.19% | 12.30% | -7.05% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
51 Neutral | ₹23.48B | 74.47 | ― | 0.01% | 178.75% | 2120.65% | |
47 Neutral | ₹10.92B | 76.39 | ― | 0.86% | 7.67% | -51.81% |
* Healthcare Sector Average
IN:POLYMED
Poly Medicure Limited
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Poly Medicure Limited Corporate Events
Poly Medicure Files Q4 FY26 Earnings Call Transcript With Exchanges
May 29, 2026
Poly Medicure Limited notified the stock exchanges that it has submitted the transcript of its Q4 FY26 earnings conference call, held on May 25, 2026, to discuss the audited standalone and consolidated financial results for the quarter and year en...
Poly Medicure Schedules Series of One-on-One Investor Meetings in Late May 2026
May 21, 2026
Poly Medicure Limited has scheduled a series of one-on-one physical meetings with institutional investors and analysts, including Aberdeen, Trust AMC, Wellington Management, and Wasatch, between 26 and 29 May 2026. The meetings, to be held at the ...
Poly Medicure Expands Brazilian Footprint with Acquisition of Medyneo
Apr 30, 2026
Poly Medicure Limited, via its wholly owned subsidiary Polymed Brazil Ltda, has acquired 100% equity of Brazilian medical device firm Medyneo Comercio de Produtos para Saude Ltda. The transaction, completed on April 29, 2026, makes Medyneo a wholl...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.