Poly Medicure Ltd

About

Poly Medicure Limited is an India-based manufacturer and exporter of medical devices. The Company exports plastic medical disposables/surgical devices.

  • Market Cap 4,276 Cr.
  • Current Price 485
  • High / Low 543 / 191
  • Stock P/E 41.6
  • Book Value 49.3
  • Dividend Yield 0.41 %
  • ROCE 24.7 %
  • ROE 23.5 %
  • Face Value 5.00

Pros

  • Company has been maintaining a healthy dividend payout of 23.46%

Cons

  • Stock is trading at 9.83 times its book value
  • The company has delivered a poor growth of 11.99% over past five years.

Peer comparison

Sector: Healthcare Industry: Healthcare

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020
134 150 155 172 162 174 180 171 170
103 116 124 138 125 132 135 131 125
Operating Profit 31 34 30 34 36 42 46 40 46
OPM % 23% 23% 20% 20% 23% 24% 25% 23% 27%
Other Income 4 5 4 7 5 5 4 6 4
Interest 4 7 -1 2 3 2 5 8 3
Depreciation 9 9 10 10 10 10 11 9 11
Profit before tax 22 23 26 29 28 35 34 29 36
Tax % 39% 37% 37% 27% 29% 20% 26% 22% 26%
Net Profit 13 15 16 22 20 28 25 23 27
EPS in Rs 1.50 1.65 1.82 2.44 2.24 3.22 2.83 2.57 3.03
Notes Notes Notes Notes Notes Notes Notes Notes Notes

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

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
112 135 173 217 259 322 390 411 454 519 610 687 696
94 107 135 169 206 246 304 323 361 397 479 520 523
Operating Profit 18 28 38 48 53 76 86 88 93 122 131 166 173
OPM % 16% 21% 22% 22% 20% 24% 22% 21% 21% 23% 22% 24% 25%
Other Income 1 2 0 0 0 11 28 8 14 16 20 21 20
Interest 5 5 5 8 7 9 10 10 8 12 14 20 18
Depreciation 7 8 9 12 13 14 19 21 24 29 37 41 42
Profit before tax 7 18 23 29 33 63 85 65 75 97 100 126 134
Tax % 11% 10% 10% 33% 30% 30% 27% 27% 27% 27% 35% 24%
Net Profit 6 16 22 19 24 45 62 48 55 71 65 96 103
EPS in Rs 0.65 1.76 2.40 2.15 2.67 4.94 7.07 5.47 5.99 8.00 7.41 10.86 11.65
Dividend Payout % 23% 17% 15% 17% 9% 20% 18% 27% 40% 25% 27% 18%
Compounded Sales Growth
10 Years:18%
5 Years:12%
3 Years:15%
TTM:9%
Compounded Profit Growth
10 Years:20%
5 Years:16%
3 Years:21%
TTM:43%
Stock Price CAGR
10 Years:29%
5 Years:19%
3 Years:24%
1 Year:141%
Return on Equity
10 Years:23%
5 Years:22%
3 Years:22%
Last Year:23%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
6 11 11 11 11 22 22 22 44 44 44 44
Reserves 42 49 67 82 101 124 174 207 227 294 337 391
Borrowings 36 33 29 46 49 67 79 82 101 133 161 207
22 33 47 42 53 73 89 76 85 94 112 126
Total Liabilities 107 127 153 182 214 286 364 387 457 565 654 767
59 64 70 85 92 123 165 182 207 265 306 363
CWIP 5 4 8 5 8 20 10 14 20 18 19 25
Investments 1 2 2 2 4 3 4 4 3 17 8 25
41 57 74 89 110 140 185 187 227 264 321 354
Total Assets 107 127 153 182 214 286 364 387 457 565 654 767

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

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 21 22 33 39 66 63 63 56 75 106 131
-7 -12 -24 -26 -31 -58 -59 -31 -56 -88 -101 -109
-6 -9 1 -6 -8 5 -6 -31 -0 16 -5 -21
Net Cash Flow 0 0 -1 0 0 13 -2 1 0 3 1 1

Ratios

Consolidated Figures in Rs. Crores / View Standalone

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% 25% 29% 30% 27% 33% 30% 26% 24% 26% 22% 25%
Debtor Days 59 60 57 56 61 52 59 74 77 79 77 68
Inventory Turnover 2.84 2.47 2.49 3.02 2.95 3.07 3.13 3.15 2.47 2.74 2.42 2.00

Shareholding Pattern

Numbers in percentages

Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020
48.76 48.76 48.76 48.76 48.76 48.75 48.75 48.75 48.76 48.76 48.76 48.76
5.62 5.48 4.86 4.91 4.90 5.01 5.01 5.01 3.68 2.90 2.36 2.86
0.15 0.00 0.00 0.00 0.02 0.07 0.07 0.08 0.13 0.18 0.24 0.25
45.47 45.76 46.38 46.33 46.32 46.17 46.17 46.16 47.43 48.16 48.64 48.13

Documents