QMS Medical Allied Services Ltd
Incorporated in 2017, QMS Medical Allied Services Ltd is a manufacturer and distributor of medical devices[1]
- Market Cap ₹ 331 Cr.
- Current Price ₹ 171
- High / Low ₹ 217 / 69.0
- Stock P/E 50.7
- Book Value ₹ 53.9
- Dividend Yield 0.29 %
- ROCE 9.62 %
- ROE 6.96 %
- Face Value ₹ 10.0
Pros
- Company has been maintaining a healthy dividend payout of 80.0%
- Company's working capital requirements have reduced from 141 days to 85.2 days
Cons
- Stock is trading at 3.17 times its book value
- The company has delivered a poor sales growth of 4.51% over past five years.
- Company has a low return on equity of 10.3% over last 3 years.
- Promoter holding has decreased over last 3 years: -5.56%
* 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 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0 | 52 | 73 | 122 | 146 | 104 | 122 | 145 | 152 | 162 | |
| 0 | 47 | 63 | 105 | 130 | 93 | 104 | 121 | 132 | 141 | |
| Operating Profit | 0 | 5 | 10 | 17 | 17 | 11 | 18 | 23 | 20 | 21 |
| OPM % | 12% | 9% | 13% | 14% | 11% | 11% | 15% | 16% | 13% | 13% |
| 0 | 0 | 0 | 0 | 1 | 1 | 0 | 0 | 0 | 0 | |
| Interest | 0 | 0 | 1 | 1 | 2 | 2 | 3 | 6 | 8 | 8 |
| Depreciation | 0 | 0 | 0 | 1 | 1 | 1 | 3 | 3 | 4 | 4 |
| Profit before tax | 0 | 4 | 9 | 15 | 14 | 9 | 12 | 14 | 9 | 9 |
| Tax % | 0% | 30% | 28% | 27% | 26% | 27% | 26% | 28% | 29% | |
| 0 | 3 | 6 | 11 | 11 | 6 | 9 | 10 | 7 | 7 | |
| EPS in Rs | 3.85 | 6.66 | 6.52 | 3.31 | 4.66 | 5.40 | 3.46 | 3.38 | ||
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 10% | 86% | 145% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 5% |
| 3 Years: | 14% |
| TTM: | 4% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | -9% |
| 3 Years: | 2% |
| TTM: | -39% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 3% |
| 1 Year: | 71% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 13% |
| 3 Years: | 10% |
| Last Year: | 7% |
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 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 0.01 | 0.01 | 3 | 4 | 4 | 18 | 18 | 18 | 19 |
| Reserves | 0 | 3 | 6 | 17 | 27 | 53 | 61 | 70 | 85 |
| 0 | 5 | 12 | 20 | 32 | 26 | 2 | 77 | 91 | |
| 5 | 10 | 12 | 20 | 19 | 22 | 54 | 24 | 25 | |
| Total Liabilities | 5 | 18 | 33 | 60 | 82 | 118 | 135 | 189 | 220 |
| 0 | 0 | 3 | 10 | 8 | 25 | 24 | 22 | 25 | |
| CWIP | 0 | 0 | 0 | 0 | 0 | 1 | 2 | 3 | 3 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 2 | 48 | 63 |
| 5 | 18 | 30 | 50 | 75 | 91 | 108 | 115 | 130 | |
| Total Assets | 5 | 18 | 33 | 60 | 82 | 118 | 135 | 189 | 220 |
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 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|
| 0 | 0 | 4 | 2 | -2 | -8 | 1 | 26 | 19 | |
| 0 | -0 | -4 | -8 | 2 | -25 | -2 | -49 | -18 | |
| 0 | 0 | 0 | 7 | 0 | 32 | -1 | 23 | -1 | |
| Net Cash Flow | 0 | 0 | 1 | 1 | 1 | -1 | -1 | 0 | -0 |
| Free Cash Flow | 0 | 0 | 1 | -6 | -2 | -9 | 1 | 26 | 19 |
| CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit | 200% | 34% | 44% | 34% | 11% | -47% | 26% | 130% | 105% |
Ratios
Standalone / View Consolidated
| Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 411 | 56 | 56 | 69 | 105 | 137 | 124 | 136 | 142 |
| Inventory Days | 22,891 | 76 | 108 | 82 | 80 | 140 | 172 | 176 | 191 |
| Days Payable | 26,124 | 75 | 78 | 73 | 56 | 91 | 90 | 74 | 75 |
| Cash Conversion Cycle | -2,822 | 58 | 86 | 77 | 129 | 187 | 205 | 238 | 258 |
| Working Capital Days | -91 | 20 | 27 | 28 | 57 | 138 | 244 | 93 | 85 |
| ROCE % | 121% | 65% | 54% | 30% | 14% | 17% | 17% | 10% |
Insights
In beta| Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|
| Institutional Clients (Pharma Companies) Clients |
|
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| Number of B2B Health Camps Conducted Camps |
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| Number of Product SKUs SKUs |
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| Number of Trained DMLT Field Technicians DMLTs |
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| Serviceable PIN Codes PIN codes |
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| Total Employees / Professionals Employees |
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| Patients Screened and Diagnosed Patients |
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| Patients on Digital Platform Patients |
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Extracted by Screener AI
Documents
Announcements
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Certificate under SEBI (Depositories and Participants) Regulations, 2018
- Regulation 74(5) certificate confirms entire shareholding in demat form for quarter ended September 30, 2026.
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Shareholders meeting
- QMS Medical Allied Services’ 9th AGM resolutions passed; final dividend of Re.0.50 per share approved.
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Shareholders meeting
- QMS Medical held its 9th AGM on Sep 30, 2026; approved financials, final dividend proposal, and related-party transactions.
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Press Release
- QMS signed MoU to acquire 100% of Beamoptics Scientific, pending terms and NCLT approval.
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Press Release
- QMS and HCAH signed definitive documents to merge PSP businesses into Saarathi, targeting 160+ programs.
Annual reports
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Annual Report 2026
from nse
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Annual Report 2025
from nse
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Annual Report 2024
from nse
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Annual Report 2023
from nse
Concalls
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Aug 2026Transcript PPT REC
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Aug 2026PPT
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Jun 2026Transcript
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Feb 2026PPT
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Nov 2025Transcript PPT
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Aug 2025Transcript
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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.