Poly Medicure Ltd

polymedicure.com BSE: 531768 NSE : POLYMED
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Poly Medicure Limited is an India-based manufacturer and exporter of medical devices. The Company exports plastic medical disposables/surgical devices.

Website BSE NSE
  • Market Cap ₹ 9,527 Cr.
  • Current Price ₹ 994
  • High / Low ₹ 1,045 / 207
  • Stock P/E 84.3
  • Book Value ₹ 50.9
  • Dividend Yield 0.20 %
  • ROCE 24.5 %
  • ROE 22.8 %
  • Face Value ₹ 5.00
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Pros

  • Company has been maintaining a healthy dividend payout of 23.62%

Cons

  • Stock is trading at 19.51 times its book value
  • Promoter holding has decreased over last quarter: -3.88%
  • The company has delivered a poor sales growth of 11.59% over past five years.

Peer comparison

Sector: Healthcare Industry: Healthcare

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020
140 131 147 149 160 152 163 171 159 161 190 194
107 100 112 118 124 116 123 127 121 116 136 138
Operating Profit 33 31 34 31 36 37 41 45 38 45 54 56
OPM % 23% 24% 24% 21% 22% 24% 25% 26% 24% 28% 28% 29%
Other Income 5 3 4 4 5 4 5 4 5 3 4 5
Interest 3 4 6 -1 2 3 1 5 8 3 3 5
Depreciation 8 9 9 9 9 10 10 10 9 11 11 12
Profit before tax 27 22 23 26 29 28 34 33 26 35 44 44
Tax % 13% 39% 37% 36% 26% 28% 21% 26% 22% 27% 24% 24%
Net Profit 23 14 14 17 21 20 27 25 21 26 33 34
EPS in Rs 2.61 1.54 1.64 1.91 2.43 2.29 3.06 2.78 2.34 2.90 3.77 3.80
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 TTM
112 134 169 208 252 312 373 393 439 507 586 646 704
94 106 132 162 199 238 288 307 345 386 452 483 511
Operating Profit 18 29 37 46 52 74 85 86 94 122 134 162 193
OPM % 16% 21% 22% 22% 21% 24% 23% 22% 21% 24% 23% 25% 27%
Other Income 1 1 0 1 0 11 28 8 13 14 16 19 17
Interest 5 5 5 8 7 9 10 10 8 11 13 20 18
Depreciation 6 7 9 10 12 14 18 20 23 28 36 39 43
Profit before tax 7 18 24 29 34 62 84 65 76 96 100 122 150
Tax % 11% 10% 9% 33% 29% 31% 27% 27% 26% 27% 34% 24%
Net Profit 6 16 22 19 24 43 61 47 56 70 66 92 113
EPS in Rs 0.67 1.87 2.46 2.19 2.73 4.88 6.92 5.36 6.37 7.96 7.51 10.47 12.81
Dividend Payout % 23% 17% 15% 17% 9% 20% 18% 28% 39% 25% 27% 19%
Compounded Sales Growth
10 Years:17%
5 Years:12%
3 Years:14%
TTM:9%
Compounded Profit Growth
10 Years:19%
5 Years:15%
3 Years:19%
TTM:21%
Stock Price CAGR
10 Years:40%
5 Years:47%
3 Years:57%
1 Year:342%
Return on Equity
10 Years:23%
5 Years:22%
3 Years:21%
Last Year:23%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Corporate actions
Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Sep 2020
6 11 11 11 11 22 22 22 44 44 44 44 44
Reserves 41 49 67 82 100 122 170 202 225 290 336 385 444
Borrowings 36 33 41 46 49 67 76 79 97 127 150 194 131
21 33 33 41 52 71 87 73 83 93 103 117 157
Total Liabilities 104 125 152 180 212 282 354 376 449 555 633 740 776
55 58 65 82 89 120 161 177 201 260 272 328 345
CWIP 3 4 8 5 8 20 10 14 20 18 19 25 29
Investments 6 7 7 7 7 6 6 6 6 18 42 58 76
40 56 73 86 108 137 178 180 222 258 300 330 326
Total Assets 104 125 152 180 212 282 354 376 449 555 633 740 776

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
14 22 22 33 38 65 63 62 55 76 113 127
-8 -13 -23 -26 -30 -58 -57 -30 -54 -87 -104 -106
-6 -9 1 -7 -8 6 -9 -31 -1 14 -10 -22
Net Cash Flow 0 0 -1 0 0 13 -2 1 0 3 -1 -1

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
ROCE % 15% 26% 28% 29% 27% 33% 30% 26% 25% 26% 23% 25%
Debtor Days 58 61 57 57 61 53 58 75 79 81 77 68
Inventory Turnover 2.86 2.48 2.51 2.43 3.06 3.13 3.15 3.28 2.56 2.21 3.08 2.57

Shareholding Pattern

Numbers in percentages

Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021
48.76 48.76 48.76 48.75 48.75 48.75 48.76 48.76 48.76 48.76 48.76 44.88
4.86 4.91 4.90 5.01 5.01 5.01 3.68 2.90 2.36 2.86 3.75 12.61
0.00 0.00 0.02 0.07 0.07 0.08 0.13 0.18 0.24 0.25 0.26 2.51
46.38 46.33 46.32 46.17 46.17 46.16 47.43 48.16 48.64 48.13 47.23 40.00

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