QMS Medical Allied Services Ltd
Incorporated in 2017, QMS Medical Allied Services Ltd is a manufacturer and distributor of medical devices[1]
- Market Cap ₹ 191 Cr.
- Current Price ₹ 99.0
- High / Low ₹ 122 / 71.5
- Stock P/E 17.8
- Book Value ₹ 53.2
- Dividend Yield 0.51 %
- ROCE 20.7 %
- ROE 12.5 %
- Face Value ₹ 10.0
Pros
Cons
- Promoter holding has decreased over last quarter: -5.56%
- Company has a low return on equity of 12.4% over last 3 years.
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|
| 0 | 52 | 73 | 122 | 146 | 104 | 122 | 145 | 165 | |
| 0 | 47 | 63 | 105 | 130 | 93 | 104 | 121 | 140 | |
| Operating Profit | 0 | 5 | 10 | 17 | 17 | 11 | 18 | 23 | 26 |
| OPM % | 12% | 9% | 13% | 14% | 11% | 11% | 15% | 16% | 15% |
| 0 | 0 | 0 | 0 | 1 | 1 | 0 | 0 | 0 | |
| Interest | 0 | 0 | 1 | 1 | 2 | 2 | 3 | 6 | 8 |
| Depreciation | 0 | 0 | 0 | 1 | 1 | 1 | 3 | 3 | 3 |
| Profit before tax | 0 | 4 | 9 | 15 | 14 | 9 | 12 | 14 | 15 |
| Tax % | 0% | 30% | 28% | 27% | 26% | 27% | 26% | 28% | |
| 0 | 3 | 6 | 11 | 11 | 6 | 9 | 10 | 11 | |
| EPS in Rs | 19.15 | 26.63 | 26.07 | 3.31 | 4.66 | 5.40 | 5.57 | ||
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 10% | 9% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 15% |
| 3 Years: | 0% |
| TTM: | 27% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 11% |
| 3 Years: | 2% |
| TTM: | 20% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | -22% |
| 1 Year: | -12% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 19% |
| 3 Years: | 12% |
| Last Year: | 13% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 0.01 | 0.01 | 3 | 4 | 4 | 18 | 18 | 18 | 19 |
| Reserves | 0 | 3 | 6 | 17 | 27 | 53 | 61 | 70 | 84 |
| 0 | 5 | 12 | 20 | 32 | 26 | 2 | 28 | 83 | |
| 5 | 10 | 12 | 20 | 19 | 22 | 54 | 73 | 23 | |
| Total Liabilities | 5 | 18 | 33 | 60 | 82 | 118 | 135 | 189 | 208 |
| 0 | 0 | 3 | 10 | 8 | 25 | 24 | 22 | 25 | |
| CWIP | 0 | 0 | 0 | 0 | 0 | 1 | 2 | 3 | 0 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 2 | 48 | 46 |
| 5 | 18 | 30 | 50 | 75 | 91 | 108 | 115 | 138 | |
| Total Assets | 5 | 18 | 33 | 60 | 82 | 118 | 135 | 189 | 208 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|
| 0 | 0 | 4 | 2 | -2 | -8 | 1 | 18 | |
| 0 | -0 | -4 | -8 | 2 | -25 | -2 | -48 | |
| 0 | 0 | 0 | 7 | 0 | 32 | -1 | -2 | |
| Net Cash Flow | 0 | 0 | 1 | 1 | 1 | -1 | -1 | -32 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|
| Debtor Days | 411 | 56 | 56 | 69 | 105 | 137 | 124 | 104 |
| Inventory Days | 22,891 | 76 | 108 | 82 | 80 | 140 | 172 | 176 |
| Days Payable | 26,124 | 75 | 78 | 73 | 56 | 91 | 90 | 74 |
| Cash Conversion Cycle | -2,822 | 58 | 86 | 77 | 129 | 187 | 205 | 206 |
| Working Capital Days | -91 | 20 | 27 | 28 | 57 | 138 | 244 | 224 |
| ROCE % | 121% | 65% | 54% | 30% | 14% | 17% | 21% |
Documents
Announcements
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Updates
27 November 2025 - Re-submitted machine-readable financial results for quarter/half-year ended 30-Sep-2025 after upload technical issue.
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Analysts/Institutional Investor Meet/Con. Call Updates
20 November 2025 - Q2 FY2026 revenue Rs44.7 Cr; EBITDA Rs6.9 Cr; H1 revenue Rs91.2 Cr; Saarathi stake now 76%.
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Analysts/Institutional Investor Meet/Con. Call Updates
17 November 2025 - QMS Medical Allied: earnings call audio for quarter and half-year ended Sep 30, 2025; held Nov 17, 2025.
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Investor Presentation
17 November 2025 - QMS Q2FY26: Revenue ₹44.7cr, EBITDA ₹6.9cr, PAT ₹3.6cr; H1FY26 revenue ₹91.2cr (Investor presentation Nov 17, 2025)
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Monitoring Agency Report
14 November 2025 - Monitoring report (Sep 30, 2025): Rs12.05cr rights issue; Rs9.99cr used for subsidiary stake; Rs0.74cr unutilized.
Annual reports
Concalls
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Nov 2025Transcript PPT
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Aug 2025TranscriptPPT
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Nov 2024Transcript PPT
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Aug 2024Transcript PPT
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May 2024Transcript PPT
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Feb 2024Transcript PPT
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Nov 2023Transcript PPT
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Sep 2023Transcript PPT
Business Overview:[1]
QMASL does marketing and distribution of medical products and medical education services to clinics, pharma, medical companies and also to individual users. These devices are sold directly in the brand of the manufacturer and are sold under the brand name Q Devices. Company manages the distribution for other brands viz. 3M, Heine, Rossmax, etc.