Key Events This Week
Feb 9: Stock hits 52-week low of Rs.1,372 amid ongoing downtrend
Feb 9: Valuation downgrade from very expensive to expensive noted
Feb 12: Further 52-week low of Rs.1,358.55 recorded
Feb 12: Mojo Grade upgraded from Strong Sell to Sell
Feb 13: New 52-week low of Rs.1,260.75 reached, closing at Rs.1,288.95
9 February: Stock Hits 52-Week Low Amid Downtrend
Poly Medicure’s share price declined sharply to a 52-week low of Rs.1,372 on 9 February 2026, continuing a sustained downtrend that had seen the stock lose nearly 13% over the preceding four sessions. Despite the broader market’s resilience, with the Sensex gaining 1.04% to close at 37,113.23, Poly Medicure’s stock underperformed markedly. The day ended with a strong 5.34% gain to Rs.1,462.95, reflecting some intraday recovery, but the overall trend remained negative.
Valuation concerns were highlighted as the company’s price-to-earnings ratio stood at a high 39.92, and price-to-book value ratio at 4.82, signalling expensive pricing relative to earnings and net assets. The downgrade from a “very expensive” to “expensive” valuation grade on 28 May 2025 was cited as a factor contributing to growing price pressure.
Valuation and Market Context: Premium Pricing Amid Weakness
Poly Medicure’s valuation metrics remain elevated compared to peers in the healthcare services sector. The enterprise value to EBITDA ratio of 29.31 far exceeds competitors such as Blue Jet Health (15.32) and Vimta Labs (16.49), while the PEG ratio of 3.36 indicates the stock trades at over three times its expected earnings growth rate. These multiples suggest that investors are pricing in robust growth expectations, yet the recent price declines reflect scepticism about near-term prospects.
Financially, the company reported a profit after tax of Rs.75.86 crore for the December 2025 quarter, down 11.0% sequentially, with operating profit margins contracting to 22.52%. The debtors turnover ratio also deteriorated to 4.02 times, indicating slower receivables collection. Despite these challenges, the company maintains a conservative capital structure with zero average debt-to-equity ratio and institutional holdings of 23.24%.
Our latest monthly pick, this Small Cap from Oil Exploration/Refineries, is showing strong performance since announcement! See why our Investment Committee chose it after screening 50+ candidates.
- - Investment Committee approved
- - 50+ candidates screened
- - Strong post-announcement performance
10 February: Modest Gains Amid Continued Volatility
The stock gained 1.60% to close at Rs.1,486.40 on 10 February, supported by increased volume of 22,055 shares. The Sensex also advanced 0.25% to 37,207.34, reflecting a broadly positive market mood. However, this uptick was short-lived as the stock remained below key moving averages, signalling persistent bearish momentum.
11 February: Sharp Decline on Rising Selling Pressure
On 11 February, Poly Medicure’s stock plunged 6.58% to Rs.1,388.65, reversing the previous day’s gains amid heavy volume of 31,923 shares. This decline contrasted with the Sensex’s modest 0.13% gain, underscoring the stock’s underperformance. The drop was linked to ongoing concerns over valuation and disappointing quarterly earnings, which had failed to meet market expectations.
12 February: New 52-Week Low and Rating Upgrade
The downtrend continued on 12 February, with the stock hitting a fresh 52-week low of Rs.1,358.55 intraday and closing at Rs.1,317.90, down 5.09%. This marked an 8.38% decline over two days. The broader market was weaker, with the Sensex falling 0.56% to 37,049.40. Despite the negative price action, MarketsMOJO upgraded Poly Medicure’s Mojo Grade from ‘Strong Sell’ to ‘Sell’, reflecting a nuanced reassessment of the company’s financial and valuation profile.
The upgrade acknowledged the company’s strong market position, low leverage, and reasonable profitability metrics, including a return on capital employed of 17.64% and return on equity of 12.40%. However, the downgrade in valuation grade from ‘Very Expensive’ to ‘Expensive’ and the negative financial trend tempered optimism.
13 February: Stock Hits Lowest 52-Week Low, Closing Below Rs.1,300
Poly Medicure’s stock fell further on 13 February, touching an intraday low of Rs.1,260.75 and closing at Rs.1,288.95, down 2.20% on the day and 7.19% for the week. This represented a cumulative 14.57% decline over the last three trading sessions. The broader healthcare sector also faced pressure, with the Medical Equipment, Supplies, and Accessories segment falling 3.83%, while the Sensex declined 1.40% to 36,532.48.
Technical indicators remained weak, with the stock trading below all major moving averages. Financially, the company’s modest profit growth and margin pressures, combined with elevated valuation multiples, continued to weigh on investor sentiment. Institutional holdings of 23.24% have not prevented the sustained selling pressure.
Why settle for Poly Medicure Ltd? SwitchER evaluates this small-cap against peers, other sectors, and market caps to find you superior investment opportunities!
- - Comprehensive evaluation done
- - Superior opportunities identified
- - Smart switching enabled
Daily Price Comparison: Poly Medicure Ltd vs Sensex
| Date | Stock Price | Day Change | Sensex | Day Change |
|---|---|---|---|---|
| 2026-02-09 | Rs.1,462.95 | +5.34% | 37,113.23 | +1.04% |
| 2026-02-10 | Rs.1,486.40 | +1.60% | 37,207.34 | +0.25% |
| 2026-02-11 | Rs.1,388.65 | -6.58% | 37,256.72 | +0.13% |
| 2026-02-12 | Rs.1,317.90 | -5.09% | 37,049.40 | -0.56% |
| 2026-02-13 | Rs.1,288.95 | -2.20% | 36,532.48 | -1.40% |
Key Takeaways
Persistent Downtrend and Underperformance: Poly Medicure’s stock declined 7.19% over the week, significantly underperforming the Sensex’s 0.54% loss. Multiple 52-week lows were recorded, reflecting sustained selling pressure and weak technical positioning below all major moving averages.
Valuation Concerns: Despite the price decline, valuation multiples remain elevated with a P/E near 40 and a price-to-book ratio above 4.8. The downgrade from “Very Expensive” to “Expensive” valuation grade signals growing scepticism about near-term price attractiveness.
Mixed Financial Signals: The company reported a decline in quarterly profit after tax by 11.0%, with operating margins contracting to 22.52%. Slower debtor turnover and margin pressures highlight operational challenges despite solid long-term profit growth.
Rating Upgrade Amid Caution: MarketsMOJO upgraded the Mojo Grade from ‘Strong Sell’ to ‘Sell’, reflecting a cautious reassessment of fundamentals and valuation. Institutional holdings remain substantial at 23.24%, but have not prevented the recent price weakness.
Sector and Market Context: The broader healthcare sector and Sensex showed relative resilience early in the week but weakened towards the close. Poly Medicure’s underperformance against sector peers and indices underscores the stock’s current challenges.
Conclusion
Poly Medicure Ltd’s week was marked by continued price weakness, multiple 52-week lows, and valuation pressures despite a modest rating upgrade. The stock’s elevated valuation multiples contrast with recent earnings softness and operational challenges, contributing to investor caution. While the company maintains a strong market position and conservative capital structure, the persistent downtrend and underperformance relative to the Sensex highlight the need for careful monitoring of upcoming financial results and sector developments. Investors should weigh the company’s long-term growth record against current valuation and profitability concerns before considering fresh exposure.
Upgrade at special rates, valid only for the next few days. Claim Your Special Rate →
