Poly Medicure logo

Poly Medicure share price

NSE: POLYMEDBSE: 531768Healthcare Equipment & SuppliesSmall Cap

Poly Medicure Limited · Face value ₹5 · Listed Jun 1996 on BSE, Dec 2011 on NSE
Last close ₹1,449.50down ₹12.40 (0.85%)BSE ₹1,447.90

Share price at the NSE close on 30 Oct 2026. Previous close ₹1,461.90.

30 Oct: open ₹1,462.30, high ₹1,478.60, low ₹1,432.60

52-week range of traded prices to 30 Oct 2026
₹1,182.00Low, 30 Mar 2026₹2,094.30High, 11 Nov 2025
Market cap
₹14,692 Cr425th largest listed
P/E
46.63
P/B
4.73
Dividend yield
0.24%
ROE
10.7%
ROCE
9.5%
Debt to equity
0.11
Volume, NSE
68,60754.1% delivered

Poly Medicure share price chart

Daily closes since Mar 2010, BSE closes Jan 2007 to Dec 2011, adjusted for splits and bonuses. Earlier closes are left out: on 26 Mar 2010 the price changed in a way no corporate action on record explains.

−26.6%over a year · Nifty MidSmall Healthcare +17.0% · Nifty 500 −8.2%

Results20-session average 84,163 shares a day, 52.7% delivered

About Poly Medicure

Poly Medicure Limited is an Indian maker of medical devices used in infusion therapy (giving fluids and medicines through a vein), renal care, critical care, cardiology and orthopaedics.123 It makes them at plants in India, China, Italy, the Netherlands and Egypt and earns a large part of its revenue from exports.45

Its products include safety IV cannulas, dialysis machines and blood bags, and its orthopaedic implant lines include Xframe, Xfix and Dolphix.67 It reports its results as a single business segment, medical devices.8 Its subsidiaries include Poly Medicure (Laiyang) in China and Plan1 Health in Italy, and it holds a stake in Ultra for Medical Products, an associate company in Egypt.9

Himanshu Baid founded the company in 1995 and is its managing director.10 It raised ₹4 billion in 2021 and ₹10 billion in 2024 by placing shares with institutional investors.3 The promoter group, which includes Himanshu Baid, joint managing director Rishi Baid, director Jugal Kishore Baid and executive director Vishal Baid, held 62.42% of the shares at 30 Jun 2026.1112

Poly Medicure key points

Results

  • In the quarter to Jun 2026, consolidated revenue rose 30.3% to ₹525 crore, of which ₹72.3 crore came from acquired businesses, and operating EBITDA rose 17.7% to ₹126.7 crore, a 24.1% margin.13
  • In the year to Mar 2026, consolidated revenue from operations rose 12.3% to ₹1,87,525.9 lakh, and operating EBITDA (profit before interest, tax, depreciation and amortisation, excluding other income) was ₹45,770.0 lakh, a 24.4% margin, against ₹45,856.6 lakh a year earlier.14
  • Consolidated profit after tax for the year to Mar 2026 fell to ₹32,073.0 lakh from ₹33,855.7 lakh, after one-off costs of the new labour codes and of acquisitions.14
  • The company says it was the first Indian company to make dialysis products in India.15

Revenue mix

  • Consolidated revenue by product group, quarter to Jun 202616
    Itemquarter to Jun 2026
    Infusion therapy₹259.2 crore
    Other products₹141.9 crore
    Orthopaedics₹49.2 crore
    Renal care₹43.2 crore
    Cardiology₹28.6 crore
    Infusion therapy was 50% of consolidated revenue.
  • In the quarter to Jun 2026, cardiology revenue rose from ₹2.9 crore a year earlier, led by the PendraCare acquisition and growth in India.17
  • In the quarter to Jun 2026, renal care revenue fell 3.8% under price pressure from Chinese makers in India; on the company's application, the government opened an anti-dumping probe (into imports sold below fair value) into dialyzers from China and Malaysia.1819

Where revenue comes from

  • Consolidated revenue by region20
    Itemquarter to Jun 2026quarter to Jun 2025
    Rest of the world₹188.8 crore₹144.8 crore
    Europe₹187.3 crore₹130.3 crore
    India₹146.0 crore₹125.7 crore
  • In the quarter to Jun 2026, rest of the world revenue rose 30.3%, but 4.0% without acquisitions, as sales to the Middle East fell about 32% because of the crisis there.2122
  • The company supplies more than 125 countries through more than 1,000 distributors; its products are registered in more than 100 countries.23

Plants and capacity

  • The group has 15 plants in 5 countries; in India, its plants are at Faridabad in Haryana, Haridwar in Uttarakhand and Jaipur in Rajasthan.2425
  • On its earnings call of 10 Aug 2026, the company said a new plant at Palwal near Faridabad, for orthopaedics and transfusion, should come online by Mar 2027, and a Noida cardiology plant should start commercially in the quarter to Jun 2027.2627
  • On its earnings call of 10 Aug 2026, the company said it expects capital spending of ₹200 crore to ₹225 crore in the year to Mar 2027.28

Research and development

  • In the quarter to Jun 2026, the company held 399 patents, had an R&D team of more than 90 people in India, Italy and the Netherlands, and launched 6 new products in infusion therapy and critical care.2930
  • In its presentation of 7 Aug 2026, the company said more than 840 patients had enrolled in PACIFIER, a 2,000-patient clinical registry for its drug-eluting stent (a drug-coated mesh tube that holds a heart artery open), with full enrolment targeted by Mar 2027.31

What the company expects

  • On its earnings call of 10 Aug 2026, the company said it expects consolidated revenue of ₹2,300 crore to ₹2,400 crore in the year to Mar 2027, including a full year of PendraCare and Citieffe, and a consolidated EBITDA margin of 23% to 25%.32
  • On its earnings call of 10 Aug 2026, the company said it expects standalone revenue (Poly Medicure alone, without its subsidiaries) of ₹1,900 crore to ₹2,000 crore in the year to Mar 2027, with an EBITDA margin of 25% to 27%.33
  • On its earnings call of 10 Aug 2026, the company said it aims to double revenue by the year to Mar 2030, through organic growth and acquisitions.34

Recent events

  • On 25 Jun 2026, CRISIL Ratings revised the outlook on the company's AA- long-term bank loan rating (a view of its ability to repay debt) to Positive from Stable; rated bank facilities rose to ₹500 crore from ₹400 crore.35
  • On 6 Nov 2025, the company completed the purchase of 100% of Citieffe, an Italian maker of implants for broken bones in the limbs that the company says ranks second in Italy and Mexico with about 12.0% market share.3637
  • On 3 Sep 2025, the group acquired PendraCare, a Dutch developer and maker of guiding and diagnostic catheters (thin tubes used in heart procedures).3839

Litigation and regulatory matters

  • As of its exchange filing of 16 Jun 2026, the company was challenging a 15 Jun 2026 order of a Delhi stamp duty authority holding it liable for ₹1,00,25,820 of alleged unpaid stamp duty on share allotments and a ₹1,50,00,000 penalty.40
  • As of the annual report for the year to Mar 2026, a disputed customs duty demand of ₹849.03 lakh was under appeal before the Customs, Excise and Service Tax Appellate Tribunal.41

Last updated

All 41 sources, each with its page
  1. 1. Annual report, 14 Aug 2026, page 116
  2. 2. Investor presentation, 7 Aug 2026, page 9
  3. 3. Investor presentation, 7 Aug 2026, page 11
  4. 4. Annual report, 14 Aug 2026, page 35
  5. 5. Annual report, 14 Aug 2026, page 36
  6. 6. Investor presentation, 7 Aug 2026, page 5
  7. 7. Investor presentation, 7 Aug 2026, page 5
  8. 8. Annual report, 14 Aug 2026, page 130
  9. 9. Annual report, 14 Aug 2026, page 33
  10. 10. Annual report, 14 Aug 2026, page 52
  11. 11. Annual report, 14 Aug 2026, page 53
  12. 12. Investor presentation, 7 Aug 2026, page 29
  13. 13. Earnings call, 10 Aug 2026, page 4
  14. 14. Annual report, 14 Aug 2026, page 32
  15. 15. Investor presentation, 7 Aug 2026, page 8
  16. 16. Investor presentation, 7 Aug 2026, page 28
  17. 17. Earnings call, 10 Aug 2026, page 4
  18. 18. Earnings call, 10 Aug 2026, page 4
  19. 19. Investor presentation, 7 Aug 2026, page 28
  20. 20. Investor presentation, 7 Aug 2026, page 27
  21. 21. Earnings call, 10 Aug 2026, page 4
  22. 22. Investor presentation, 7 Aug 2026, page 27
  23. 23. Investor presentation, 7 Aug 2026, page 6
  24. 24. Investor presentation, 7 Aug 2026, page 6
  25. 25. Annual report, 14 Aug 2026, page 58
  26. 26. Earnings call, 10 Aug 2026, page 16
  27. 27. Earnings call, 10 Aug 2026, page 17
  28. 28. Earnings call, 10 Aug 2026, page 5
  29. 29. Investor presentation, 7 Aug 2026, page 22
  30. 30. Investor presentation, 7 Aug 2026, page 23
  31. 31. Investor presentation, 7 Aug 2026, page 23
  32. 32. Earnings call, 10 Aug 2026, page 5
  33. 33. Earnings call, 10 Aug 2026, page 5
  34. 34. Earnings call, 10 Aug 2026, page 3
  35. 35. Exchange filing, 26 Jun 2026, page 2
  36. 36. Exchange filing, 6 Nov 2025, page 1
  37. 37. Investor presentation, 7 Aug 2026, page 15
  38. 38. Annual report, 14 Aug 2026, page 32
  39. 39. Annual report, 14 Aug 2026, page 33
  40. 40. Exchange filing, 16 Jun 2026, page 2
  41. 41. Annual report, 14 Aug 2026, page 123

Results

Consolidated; ₹ crore.Poly Medicure quarterly results

Revenue growth, 12 months
+18.3%
Net profit growth, 12 months
−11.9%

Quarter to Jun 2026, against the quarter before

Revenue
₹525 Crdown 1.71%
Net profit
₹85 Crup 31.11%
Net margin
16.2%

Revenue by quarter

₹420 CrSep 24₹424 CrDec 24₹441 CrMar 25₹403 CrJun 25₹444 CrSep 25₹494 CrDec 25₹535 CrMar 26₹525 CrJun 26
Peak revenue ₹535 Cr, quarter to Mar 2026; lowest ₹403 Cr, quarter to Jun 2025

Net profit by quarter, a loss in red

₹87 CrSep 24₹85 CrDec 24₹92 CrMar 25₹93 CrJun 25₹92 CrSep 25₹71 CrDec 25₹65 CrMar 26₹85 CrJun 26
₹ croreSep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Revenue420424441403444494535525
Net profit8785929392716585
Net margin20.8%20.1%20.8%23.1%20.7%14.3%12.2%16.2%
Consolidated. The last eight quarters. The latest is shaded. Net profit is the whole group's, the other owners of its subsidiaries included; P/E and ROE use the company's own share.

Business segments

In the year to Mar 2026 the company reports one business segment, Manufacturing of Medical Devices, which carries all its revenue.

Valuation

Today, against the company's own history.Poly Medicure PE ratio and valuation

Price to earnings

At or below today's level on 47% of 2,479 trading days over the last 10 years.

LowestHighest
Its median49.11Industry median21.13
Price to book

At or below today's level on 5% of 1,890 trading days since Nov 2018.

LowestHighest
Its median7.94Industry median2.46
Dividend yield

At or below today's level on 43% of 2,477 trading days over the last 10 years.

LowestHighest
Its median0.27%Industry median0.29%

Where the return came from

Yearly rates to Mar 2026, per-share figures restated for splits and bonuses.

OverReturn a yearEarnings growthChange in P/EDividend yield
1 year−46.7%−4.9%−44.2%0.3%
3 years+7.9%+19.4%−9.8%0.2%
5 years+7.9%+17.5%−8.4%0.2%
Return is price growth plus the average dividend yield. Change in P/E is (1 + price growth) / (1 + earnings growth) - 1, so the parts compound rather than add. Earnings growth over 1 and 5 years is on profit divided by shares in issue at both ends: the earnings per share stated for one end does not match that year's profit and share count.

Shareholding

Per cent of the company's shares, from the filing for Sep 2026.Poly Medicure shareholding pattern

Shareholding by group

  • Promoters62.42%
  • Foreign institutions5.35%
  • Indian institutions15.90%
  • Individuals and others16.33%
Holder
EZEKIEL GLOBAL BUSINESS SOLUTIONS LLPPromoter12.20%
RISHI BAIDPromoter9.59%
ZETTA MATRIX CONSULTING LLPPromoter8.21%
HIMANSHU BAIDPromoter7.80%
HIMANSHU BAID (HUF)Promoter3.79%
VCB TRADING LLPPromoter3.49%
Holders are named in the company's own words: an insurer's holding can carry one of its funds' names. Mutual funds are left out here and listed fund by fund below.

Since Jun 2026: promoters unchanged, foreign institutions −0.22 pts, Indian institutions −0.18 pts, mutual funds +0.16 pts.

Mutual fund holdings

75 funds disclosed a holding for Sep 2026. What they did in Sep 2026, against each fund's month before. 50 of the 54 funds that added or cut are index funds, ETFs or arbitrage funds: an index fund or ETF holds what its index holds, and an arbitrage fund holds the share against a sale of its future.All 75 funds holding Poly Medicure

Added
19
Cut
35
Held unchanged
21
Sold out
1
Portfolios disclosed for Sep 2026. Weight is the holding as a share of the fund's assets.

Promoter and insider buying and selling

Trades made since 31 Oct 2025.Poly Medicure insider trading

No promoter, director, key manager or employee bought or sold on the market.

  • Others: no market trade
Bought and sold count trades on the market only. A pledge is shares given to a lender as security for a loan; a lender invokes it by selling them.

Poly Medicure competitors and peers

Medical Equipment & Supplies, 27 listed companies, priced on 30 Oct 2026. The table lists the 8 companies closest to Poly Medicure in market cap.Healthcare companies

Where the company sits among the companies nearest its size

Return on equity across, P/E up, size is market cap
Company
Molbio Diagnostics logoMolbio DiagnosticsMOLBIO14,682––––––0.00%
Sahajanand Medical Technologies logoSahajanand Medical TechnologiesSMT4,703––––––0.00%
Fischer Medical Ventures logoFischer Medical VenturesFISCHER1,73257.85–+196.0%+354.6%8.3%10.2%0.20%
Tarsons Products logoTarsons ProductsTARSONS1,548139.552.44+10.6%−59.7%1.8%1.5%0.00%
Q-Line Biotech logoQ-Line BiotechQLINE1,19621.47–––22.6%–0.00%
Laxmi Dental logoLaxmi DentalLAXMIDENTL97731.644.02––13.7%12.0%0.00%
Hemant Surgical Industries logoHemant Surgical IndustriesHSIL83445.84–+117.4%+126.2%18.1%–0.00%
Vasa Denticity logoVasa DenticityDENTALKART761–4.37––––0.00%
Market cap in ₹ crore. Growth is the last twelve months against the twelve before. A figure is left empty where it would rest on a loss or the company has under a year of results on record. ROE is the shareholders' profit over their net worth. ROCE is profit before interest and tax over the whole group's net worth plus borrowings, as in the figures at the top of the page.

Dividends

Per share, by the year it was paid for, and the latest payments.Poly Medicure dividend history

Dividend per share, ₹, restated for later splits and bonuses

1.5Mar 172Mar 182Mar 192Mar 202.5Mar 212.5Mar 223Mar 233Mar 243.5Mar 253.5Mar 26
Highest ₹3.50 a share, years to Mar 2025 and Mar 2026.
Ex-dateTypePer share
28 Aug 2026Final₹3.50
18 Sep 2025Final₹3.50
19 Sep 2024Final₹3.00
21 Sep 2023Final₹3.00
16 Sep 2022Final₹2.50
16 Sep 2021Final₹2.50
Latest payments, as declared, by ex-date.

Latest announcements

Routine notices left out.Poly Medicure announcements

Poly Medicure share price by year

Each calendar year to 2025.Poly Medicure share price history

YearClose at year endChangeHighest closeLowest close
20251,773.70−32.2%2,842.651,698.70
20242,615.25+75.5%3,128.901,390.55
20231,489.90+65.9%1,666.75832.55
2022897.85−6.3%1,031.35667.75
2021957.95+89.2%1,133.15506.55
2020506.20+132.1%536.25202.85
2019218.05−1.9%228.05168.85
2018222.20−20.4%290.00191.15
2017279.25+46.6%304.00189.30
2016190.45−4.5%215.28124.28
₹ per share, adjusted for splits and bonuses since. Change is on the close at the end of the year before.

Recent sessions

The 9 trading days to 29 Oct 2026, as traded on NSE; the latest is at the top of the page.

DateOpenHighLowCloseAverage priceVolumeDelivery
29 Oct 20261,480.001,480.201,446.101,461.901,458.6036,08750.2%
28 Oct 20261,465.001,489.901,454.901,476.001,476.9773,75269.7%
27 Oct 20261,443.501,473.501,401.501,470.001,459.6432,11847.6%
26 Oct 20261,450.001,460.801,426.501,443.501,445.1843,41850.6%
23 Oct 20261,441.701,455.801,403.201,444.001,430.4386,15649.1%
22 Oct 20261,464.901,517.801,431.501,448.901,474.501,95,82240.5%
21 Oct 20261,545.001,554.001,455.101,470.101,477.731,97,05868.6%
19 Oct 20261,594.901,594.901,543.001,550.701,558.5355,79944.1%
16 Oct 20261,578.801,601.101,575.101,593.801,593.3545,45549.4%
Prices in ₹ per share as traded, not adjusted.

Price adjustments

What the price chart is corrected for, so it reads as one share held throughout.Bonus shares and stock split history

Ex-dateEventPrice factorWhat happened
24 Mar 2017Bonus0.5000Holders received 1 bonus share for every 1 held.
2 Feb 2015Split0.5000Each share became 2.
9 Jul 2013Bonus0.5000Holders received 1 bonus share for every 1 held.
26 Mar 2010Price move–Between two trading sessions the price fell 47% or more, or rose 90% or more. No corporate action is on record. Earlier prices are not shown.
Earlier prices are multiplied by the factor, so the chart reads as one share held throughout. Where an event has no factor that can be worked out, the chart leaves out the closes before it.

Company details

Chairperson
DEVENDRA RAJ MEHTA
At the end of the quarter to Sep 2026
Managing director
HIMANSHU BAID
At the end of the quarter to Sep 2026
NSE symbol
POLYMED
BSE code
531768
ISIN
INE205C01021
Industry
Healthcare Equipment & Supplies
CIN
L40300DL1995PLC066923
Corporate identity number, the registrar of companies' code for it
Incorporated
1995
Registered office
232 B, 3rd Floor, Okhla Industrial Estate, Phase-III, New Delhi 110020, Delhi
Share registrar
MAS Services Ltd
Keeps the register of shareholders and handles transfers and dividend payments