Poly Medicure Ltd Falls to 52-Week Low of Rs 1358.55 Amidst Continued Downtrend

Stock Price Movement and Market Context

On the day in question, Poly Medicure’s stock touched an intraday low of Rs 1358.55, representing a 2.17% decline from the previous close. The stock has underperformed its sector by 0.74% and has been on a downward trajectory for two consecutive sessions, losing 8.38% over this period. This decline places the stock well below all key moving averages, including the 5-day, 20-day, 50-day, 100-day, and 200-day averages, signalling sustained bearish momentum.

In contrast, the broader market index, Sensex, opened 265.21 points lower and was trading at 83,890.17, down 0.41%. Despite this, Sensex remains relatively resilient, trading just 2.7% below its 52-week high of 86,159.02 and having recorded a 2.89% gain over the past three weeks. The index’s 50-day moving average remains above its 200-day average, indicating an overall positive medium-term trend, which contrasts with Poly Medicure’s current weakness.

Long-Term and Recent Performance Metrics

Poly Medicure’s one-year performance has been notably weak, with the stock declining by 38.70%, significantly underperforming the Sensex’s 10.15% gain over the same period. The stock’s 52-week high was Rs 2936.70, highlighting the extent of the recent correction. Over the last three years, the stock has also lagged behind the BSE500 index, reflecting challenges in maintaining competitive performance.

Financially, the company’s operating profit has grown at an annualised rate of 17.77% over the past five years, which is modest relative to sector peers. However, recent quarterly results have shown a decline in profitability, with the PAT for the quarter ending December 2025 falling by 11.0% to Rs 75.86 crore. The operating profit to net sales ratio for the quarter also dropped to a low of 22.52%, indicating margin pressures.

Valuation and Financial Ratios

Poly Medicure’s return on equity (ROE) stands at 12.4%, which, combined with a price-to-book value of 4.8, suggests a relatively expensive valuation. Despite this, the stock is trading at a discount compared to the average historical valuations of its peers. The company’s PEG ratio is 3.4, reflecting a higher price relative to earnings growth, which may be a factor in the subdued market sentiment.

Additional financial indicators reveal a low debt-to-equity ratio, averaging zero, which indicates a conservative capital structure with minimal leverage. However, the company’s debtors turnover ratio for the half-year is at a low 4.02 times, signalling slower collection cycles that could impact liquidity.

Sector Position and Institutional Holdings

With a market capitalisation of Rs 14,075 crore, Poly Medicure is the second-largest company in the Healthcare Services sector, accounting for 12.94% of the sector’s total market cap. Its annual sales of Rs 1,781.58 crore represent 16.36% of the industry’s revenue, underscoring its significant presence.

Institutional investors hold a substantial 23.24% stake in the company, reflecting a level of confidence from entities with extensive analytical resources. This ownership concentration may influence trading dynamics and valuation perceptions.

Mojo Score and Rating Update

Poly Medicure’s Mojo Score currently stands at 30.0, with a Mojo Grade of Sell, upgraded from a previous Strong Sell rating on 11 Feb 2026. The market cap grade is rated at 3, indicating a mid-tier valuation relative to market capitalisation. The stock’s day change was negative at -2.33%, consistent with the recent downward trend.

These ratings reflect a cautious stance based on the company’s recent financial performance and valuation metrics, as well as its relative underperformance within the sector and broader market indices.

Summary of Performance Trends

Over the past year, Poly Medicure’s stock has generated a negative return of 38.70%, while its profits have increased by 11.9%. This divergence between earnings growth and share price performance is captured in the elevated PEG ratio of 3.4. The stock’s underperformance extends to the medium term, with returns lagging behind the BSE500 index over one year, three years, and the last three months.

Despite the company’s sizeable market presence and conservative debt profile, the combination of valuation concerns, declining quarterly profitability, and weaker price momentum has contributed to the stock’s fall to its 52-week low.

Conclusion

Poly Medicure Ltd’s recent decline to Rs 1358.55 marks a significant low point in its share price over the past year. The stock’s performance contrasts with broader market resilience and reflects a complex interplay of valuation, profitability, and sector dynamics. While the company maintains a strong market position and institutional backing, current financial indicators and price trends underscore the challenges faced by the stock in the near term.

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