Stock Performance and Market Context
On 1 Feb 2026, Poly Medicure Ltd’s share price touched an intraday low of Rs.1451.1, representing a 4.4% drop from previous levels and underperforming its sector by 3.52%. The stock closed the day down 2.55%, trading below all key moving averages including the 5-day, 20-day, 50-day, 100-day, and 200-day averages. This technical positioning indicates sustained downward momentum.
In comparison, the Sensex opened 119.19 points higher but reversed sharply to close at 81,312.24, down 1.16% or 1,076.73 points. The benchmark index is trading below its 50-day moving average, although the 50DMA remains above the 200DMA, signalling mixed medium-term market signals.
Over the past year, Poly Medicure Ltd has underperformed significantly, with a total return of -36.19%, contrasting with the Sensex’s positive 5.81% gain and the broader BSE500’s 6.29% return. The stock’s 52-week high was Rs.2936.7, highlighting the extent of the recent decline.
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Financial Metrics and Valuation
Poly Medicure Ltd’s financial indicators reveal a complex picture. The company reported flat results in the September 2025 quarter, which has contributed to subdued investor sentiment. The dividend payout ratio (DPR) stands at a relatively low 10.70%, indicating restrained shareholder returns compared to peers.
The company’s debtors turnover ratio for the half-year period is 4.02 times, the lowest among its recent historical figures, suggesting slower collection cycles. Despite these factors, the company maintains a low average debt-to-equity ratio of zero, reflecting a conservative capital structure with minimal leverage.
Return on equity (ROE) is recorded at 12.4%, which, while positive, is accompanied by a high price-to-book (P/B) ratio of 5.3. This valuation is considered very expensive relative to the company’s fundamentals and peers’ historical averages. The price-to-earnings-to-growth (PEG) ratio stands at 1.9, indicating that the stock’s price growth is outpacing earnings growth, which rose by 22.8% over the past year.
Sector Position and Market Capitalisation
With a market capitalisation of Rs.15,486 crores, Poly Medicure Ltd is the second largest company in the Healthcare Services sector, trailing only Lenskart Solutions. The company accounts for 14.54% of the sector’s total market value and contributes 15.86% of the industry’s annual sales, which total Rs.1,712.13 crores.
Institutional investors hold a significant 23.24% stake in the company, reflecting a notable presence of entities with extensive analytical resources. This level of institutional ownership often correlates with a more rigorous assessment of company fundamentals.
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Mojo Score and Analyst Ratings
Poly Medicure Ltd’s current Mojo Score is 37.0, categorised as a Sell rating. This represents a downgrade from the previous Hold grade, which was revised on 28 May 2025. The market cap grade is rated at 3, indicating a mid-tier valuation relative to market capitalisation metrics.
The downgrade reflects the stock’s recent price weakness, flat quarterly results, and valuation concerns. The company’s underperformance relative to the broader market and sector benchmarks has been a key factor in the revised assessment.
Summary of Key Performance Indicators
To summarise, Poly Medicure Ltd’s stock has experienced a notable decline over the past year, culminating in a fresh 52-week low of Rs.1451.1. The stock’s underperformance is evident against the Sensex and BSE500 indices, with returns lagging by over 40 percentage points. Financial metrics such as low dividend payout, reduced debtor turnover, and a high P/B ratio contribute to the cautious outlook.
Despite a solid ROE and earnings growth of 22.8%, the valuation remains elevated relative to fundamentals. The company’s strong market position within the Healthcare Services sector and substantial institutional ownership provide context to its current standing.
Market Environment and Technical Indicators
The broader market environment has been volatile, with the Sensex reversing sharply after a positive start to the day. Poly Medicure Ltd’s share price trading below all major moving averages signals continued pressure on the stock. The technical indicators suggest that the stock is in a downtrend, with resistance levels at the 5-day through 200-day moving averages.
Investors and analysts will be monitoring upcoming financial disclosures and sector developments closely to gauge any shifts in the company’s trajectory.
Conclusion
Poly Medicure Ltd’s recent fall to a 52-week low underscores the challenges faced by the stock amid a difficult market backdrop and valuation concerns. The company’s financial metrics and sector positioning provide a nuanced picture of its current status. While the stock has shown earnings growth, the market’s response has been cautious, reflected in the downgrade to a Sell rating and the sustained price weakness.
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