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Last Updated on: 04 March, 2024|Author: Getaka | Social: X Twitter Profile

Fundamental Analysis of Poly Medicure Ltd

About the Company - Poly Medicure Ltd

Poly Medicure Ltd. is a Public Limited Listed company incorporated on 30/03/1995 and has its registered office in the State of Delhi, India. Company’s Corporate Identification Number(CIN) is L40300DL1995PLC066923 and registration number is 066923. Currently Company is involved in the business activities of Wholesale of pharmaceutical and medical goods. Company’s Total Operating Revenue is Rs. 879.36 Cr. and Equity Capital is Rs. 47.95 Cr. for the Year ended 31/03/2022.
INDUSTRYADDRESSCONTACT
Medical Equipment & AccessoriesNo. 232-B, 3rd Floor, New Delhi Delhi 110020investorcare@polymedicure.com
http://www.polymedicure.com
Management
NamePosition Held
Mr. Devendra Raj MehtaChairman
Mr. Himanshu BaidManaging Director
Mr. Rishi BaidJoint Managing Director
Mr. Jugal Kishore BaidNon Executive Director
Mrs. Mukulika BaidNon Executive Director
Mr. Alessandro BalboniNon Executive Director
Mr. Prakash Chand SuranaInd. Non-Executive Director
Dr. Shailendra Raj MehtaInd. Non-Executive Director
Dr. Ambrish MithalInd. Non-Executive Director
Dr. Sandeep BhargavaInd. Non-Executive Director
Mr. Amit KhoslaInd. Non-Executive Director
Ms. Sonal MattooInd. Non-Executive Director

Poly Medicure Ltd. Share Price Update

Share PriceValue
Today₹1,574.65
Previous Day₹1,604.10

Basic Stock Data of Poly Medicure Ltd

Market Cap 15,422 Cr.
Current Price 1,607
High / Low1,729/921
Stock P/E62.0
Book Value 139
Dividend Yield0.18 %
ROCE18.3 %
ROE14.8 %
Face Value 5.00

Data Source: screener.in

Competitors of Poly Medicure Ltd

Stock NameMarket CapCurrent PriceHigh / LowStock P/EBook ValueDividend YieldROCEROEFace Value
Adeshwar Meditex Ltd 41.8 Cr. 29.036.0/0.0024.3 23.30.00 %9.99 %6.48 % 10.0
Industry Average41.80 Cr29.0024.3023.300.00%9.99%6.48%10.00

Poly Medicure Ltd Quarterly Results

MonthSep 2020Dec 2020Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023
Sales200204213212223230258249275285307321337
Expenses143146159157172179202202210214224234253
Operating Profit57585455515156466571838784
OPM %28%28%25%26%23%22%22%19%24%25%27%27%25%
Other Income468111388591591415
Interest35-230-11105222
Depreciation11131313141414141414151616
Profit before tax46465250504649365967758381
Tax %24%23%25%25%24%25%26%26%27%25%22%24%23%
Net Profit35353938383536274450596362
EPS in Rs3.974.004.053.923.993.603.772.814.545.216.136.546.48

Poly Medicure Ltd Quarterly Chart

Poly Medicure Ltd Profit & Loss

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023TTM
Sales2172593223904114545196106877859221,1151,250
Expenses169206246304323361397479520569707847924
Operating Profit485376868893122131166216215267326
OPM %22%20%24%22%21%21%23%22%24%28%23%24%26%
Other Income00112881416202122403853
Interest879101081214201161112
Depreciation12131419212429374148545760
Profit before tax29336385657597100126180195237306
Tax %33%30%30%27%27%27%27%35%24%25%25%25%
Net Profit192445624855716596136147179234
EPS in Rs2.212.755.117.075.476.258.007.4110.8614.1715.2818.6924.36
Dividend Payout %17%9%20%18%27%40%25%27%18%18%16%16%

Poly Medicure Ltd Profit & Loss Yearly Chart

Poly Medicure Ltd Growth

Compounded Sales Growth
10 Years:16%
5 Years:17%
3 Years:18%
TTM:22%
Compounded Profit Growth
10 Years:22%
5 Years:20%
3 Years:22%
TTM:59%
Stock Price CAGR
10 Years:31%
5 Years:50%
3 Years:30%
1 Year:58%
Return on Equity
10 Years:18%
5 Years:17%
3 Years:16%
Last Year:15%

Poly Medicure Ltd Balance Sheet

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Sep 2023
Equity Capital11112222224444444448484848
Reserves821011241742072272943373919181,0401,1941,290
Borrowings4649677982101133161207137127149135
Other Liabilities42537389768594112126121163187224
Total Liabilities1822142863643874575656547671,2241,3771,5771,697
Fixed Assets8592123165182207265306363426488635704
CWIP582010142018192521437896
Investments24344317825354346126165
Other Assets89110140185187227264321354422499738733
Total Assets1822142863643874575656547671,2241,3771,5771,697

Poly Medicure Ltd Reserves and Borrowings Chart

Poly Medicure Ltd Cash Flow

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Cash from Operating Activity 33396663635675106128119123191
Cash from Investing Activity -26-31-58-59-31-56-88-101-107-436-85-179
Cash from Financing Activity -6-85-6-31-016-5-21317-35-13
Net Cash Flow0013-21031103-1

Poly Medicure Ltd Financial Efficiency Indicators

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Debtor Days566152597477797768728277
Inventory Days145149142148114194161186241217218237
Days Payable96991011017613196123142111115105
Cash Conversion Cycle10611194106111140144139166179185209
Working Capital Days595631456581948373107116112
ROCE %30%27%33%30%26%24%26%22%25%22%17%18%

Poly Medicure Ltd Financial Efficiency Indicators Chart

Poly Medicure Ltd Share Holding Pattern

MonthMar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
Promoters44.88%44.77%44.77%44.76%44.66%53.34%53.33%53.33%53.32%53.32%53.17%53.17%
FIIs12.61%12.82%13.68%14.13%15.07%15.59%16.27%16.33%16.21%15.61%14.49%14.10%
DIIs2.51%2.89%2.87%2.99%3.33%3.25%3.39%3.38%3.67%4.25%5.15%5.46%
Public40.00%39.52%38.68%38.11%36.94%27.82%27.02%26.97%26.79%26.82%27.20%27.28%
No. of Shareholders21,53135,92233,67835,16633,83133,29634,23932,01535,39336,14134,64936,053

Poly Medicure Ltd Shareholding Pattern Chart

No. of Poly Medicure Ltd Shareholders

Poly Medicure Ltd Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)
UTI Flexi Cap Fund22172731.33338.28
Quant Small Cap Fund5861750.889.43
UTI Unit Linked Insurance Plan (ULIP) - Fifteen Year Plan1821490.5327.79
UTI Unit Linked Insurance Plan (ULIP) - Ten Year Plan1821490.5327.79
Quant Business Cycle Fund1600003.0524.41
WhiteOak Capital Flexi Cap Fund1406380.8121.46
Bank of India ELSS Tax Saver1050001.6816.02
Bank of India ELSS Tax Saver - Eco Plan1050001.6816.02
Quant Healthcare Fund1010688.7815.42
Bank of India Small Cap Fund965001.814.72

Poly Medicure Ltd ROCE Trend

Poly Medicure Ltd EPS Trend

Poly Medicure Ltd Key Financial Ratios

MonthMar 23Mar 22Mar 21Mar 20Mar 19
FaceValue5.005.005.005.005.00
Basic EPS (Rs.)18.6915.2815.2510.867.41
Diluted EPS (Rs.)18.6715.2715.2410.867.41
Cash EPS (Rs.)24.4420.6518.7815.2111.48
Book Value[Excl.RevalReserv]/Share (Rs.)129.41113.40100.7149.2743.22
Book Value[Incl.RevalReserv]/Share (Rs.)129.41113.40100.7149.2743.22
Revenue From Operations / Share (Rs.)116.2496.2582.0377.8869.23
PBDIT / Share (Rs.)31.4326.1724.2820.6716.74
PBIT / Share (Rs.)25.4720.5519.3216.0812.51
PBT / Share (Rs.)24.5520.1018.4314.0011.18
Net Profit / Share (Rs.)18.4815.0213.8310.627.25
NP After MI And SOA / Share (Rs.)18.6915.2814.1710.867.41
PBDIT Margin (%)27.0427.1929.5926.5424.18
PBIT Margin (%)21.9121.3423.5520.6418.07
PBT Margin (%)21.1220.8822.4717.9816.15
Net Profit Margin (%)15.9015.6016.8513.6310.47
NP After MI And SOA Margin (%)16.0715.8717.2713.9510.70
Return on Networth / Equity (%)14.4313.4714.0722.0417.14
Return on Capital Employeed (%)19.0317.1317.6024.8822.06
Return On Assets (%)11.3610.6411.1012.4910.00
Long Term Debt / Equity (X)0.010.030.060.250.23
Total Debt / Equity (X)0.110.110.100.380.35
Asset Turnover Ratio (%)0.730.680.760.920.97
Current Ratio (X)2.753.464.121.611.96
Quick Ratio (X)2.042.713.381.041.42
Inventory Turnover Ratio (X)2.252.392.222.242.52
Dividend Payout Ratio (NP) (%)13.3716.360.0018.400.00
Dividend Payout Ratio (CP) (%)10.1411.950.0012.930.00
Earning Retention Ratio (%)86.6383.640.0081.600.00
Cash Earning Retention Ratio (%)89.8688.050.0087.070.00
Interest Coverage Ratio (X)34.1258.9927.359.9612.57
Interest Coverage Ratio (Post Tax) (X)21.0734.8616.576.126.45
Enterprise Value (Cr.)9107.859208.877911.732221.331997.44
EV / Net Operating Revenue (X)8.179.9810.063.233.27
EV / EBITDA (X)30.2036.6933.9912.1813.52
MarketCap / Net Operating Revenue (X)8.209.869.973.033.14
Retention Ratios (%)86.6283.630.0081.590.00
Price / BV (X)7.368.378.124.785.02
Price / Net Operating Revenue (X)8.209.869.973.033.14
EarningsYield0.010.010.010.040.03

Poly Medicure Ltd Profitability Ratios (%)

Poly Medicure Ltd Liquidity Ratios

Poly Medicure Ltd Liquidity Ratios (%)

Poly Medicure Ltd Interest Coverage Ratios (%)

Poly Medicure Ltd Valuation Ratios

Fair Value / Intrinsic Value of Poly Medicure Ltd

Fair Value: ₹1277.76

The stock is overvalued by 20.49% compared to the current price ₹1607

*Investments are subject to market risks

Strength and Weakness of Poly Medicure Ltd

StrengthWeakness
  1. The stock has a high average ROCE of 25.00%, which is a positive sign.
  2. The company has higher reserves (490.69 cr) compared to borrowings (113.31 cr), indicating strong financial stability.
  3. The company has shown consistent growth in sales (429.08 cr) and profit (122.38 cr) over the years.
  1. The stock is trading at a high valuation with an average P/B ratio of 18.79 and average Dividend Yield of 21.10%.
  2. The stock has a high average Working Capital Days of 76.83, which may not be favorable.
  3. The stock has a high average Cash Conversion Cycle of 140.83, which may not be favorable.

Should I Buy Poly Medicure Ltd Share Now?

  • Considering various financial indicators, investors might exercise caution regarding investment in Poly Medicure Ltd:
    1. Net Profit Margin: 15.90%
      • Net Profit Margin: This metric indicates the percentage of profit a company makes from its total revenue. A higher net profit margin is generally desirable as it reflects better profitability.
    2. ROCE: 19.03% (Industry Average ROCE: 9.99%)
      • ROCE (Return on Capital Employed): ROCE measures a company's profitability and the efficiency with which its capital is employed. A higher ROCE indicates efficient use of capital.
    3. Interest Coverage Ratio (Post Tax): 21.07
      • Interest Coverage Ratio: The interest coverage ratio measures a company's ability to cover its interest payments on outstanding debt. A ratio greater than 2 is generally considered healthy as it indicates the company can meet its interest obligations comfortably.
    4. Quick Ratio: 2.04
      • Quick Ratio: The quick ratio assesses a company's ability to cover its short-term liabilities with its most liquid assets. A ratio higher than 1 suggests the company can meet its short-term obligations without relying heavily on inventory.
    5. ✗ Stock P/E: 60.8 (Industry average Stock P/E: 24.3)
      • Stock P/E (Price-to-Earnings) Ratio: The P/E ratio compares a company's current share price to its earnings per share. A lower P/E ratio relative to industry peers or historical values may indicate that the stock is undervalued.
    6. ✓ Total Debt / Equity: 0.11
      • Total Debt / Equity: This ratio measures a company's financial leverage by comparing its total debt to its total equity. A lower ratio indicates lower financial risk and greater financial stability.
    The current analysis suggests exercising caution. It's advisable to conduct further research or consult with financial experts before considering any investment.

About the Author

Author Avatar
Getaka

Getaka, CFA, a financial analyst with 15 years of experience in the industry. Getaka holds an MBA degree and the Chartered Financial Analyst designation, demonstrating his profound understanding of financial analysis and investment management. Throughout his career, he has conducted numerous financial analyses and due diligence processes for companies in the industry, and has a strong track record of identifying key trends and opportunities. He leverages his expertise to deliver a thorough financial analysis of a company, encompassing its financial performance, key ratios, future prospects, and risks. Getaka is committed to providing accurate, reliable, and trustworthy information to help readers make informed decisions about their finances and investments.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Poly Medicure Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE