Stock Performance and Market Context
On 29 Dec 2025, Poly Medicure Ltd recorded its lowest price in the last 52 weeks at Rs.1740.5. Despite a slight uptick today, with a day change of +0.07%, the stock remains below all key moving averages, including the 5-day, 20-day, 50-day, 100-day, and 200-day averages. This technical positioning indicates sustained selling pressure over multiple time frames.
The broader market, represented by the Sensex, opened flat but has since declined marginally by 0.11%, trading at 84,949.51 points. Notably, the Sensex is trading above its 50-day moving average, which itself is positioned above the 200-day moving average, signalling a generally bullish market environment. The index is currently 1.42% shy of its 52-week high of 86,159.02, underscoring the divergence between Poly Medicure’s performance and the overall market trend.
Over the past year, Poly Medicure Ltd has underperformed significantly, delivering a negative return of -31.10%, while the Sensex has appreciated by 7.94%. This underperformance is further highlighted when compared to the BSE500 index, which has generated a 5.58% return in the same period.
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Financial Metrics and Valuation
Poly Medicure’s financial indicators reveal a mixed picture. The company reported flat results in the September 2025 quarter, which contributed to the cautious market sentiment. Its Dividend Payout Ratio (DPR) stands at a relatively low 10.70%, reflecting a conservative approach to shareholder returns.
The Debtors Turnover Ratio for the half-year period is at 4.02 times, the lowest in recent assessments, indicating slower collection efficiency compared to previous periods. Return on Equity (ROE) is recorded at 12.4%, which, while positive, is accompanied by a high Price to Book Value (P/BV) ratio of 6.1. This suggests that the stock is valued expensively relative to its book value, though it remains fairly aligned with the historical valuations of its peers.
Despite the negative stock price performance, the company’s profits have increased by 22.8% over the past year. However, the Price/Earnings to Growth (PEG) ratio stands at 2.2, indicating that the stock’s price growth may not be fully justified by its earnings growth rate.
Sector Position and Market Capitalisation
With a market capitalisation of Rs.17,848 crores, Poly Medicure Ltd is the second-largest company in the Healthcare Services sector, trailing only Lenskart Solutions. It accounts for 15.83% of the sector’s total market value. The company’s annual sales of Rs.1,712.13 crores represent 15.86% of the industry’s revenue, underscoring its significant presence in the sector.
Institutional investors hold a substantial 23.31% stake in the company, reflecting confidence from entities with extensive analytical resources. The company maintains a low average Debt to Equity ratio of zero, indicating a conservative capital structure with minimal reliance on debt financing.
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Mojo Score and Analyst Ratings
Poly Medicure Ltd currently holds a Mojo Score of 37.0, categorised under a Sell grade. This represents a downgrade from its previous Hold rating as of 28 May 2025. The Market Cap Grade is rated at 3, indicating a mid-tier market capitalisation relative to other stocks in the evaluation universe.
The downgrade reflects the stock’s recent price weakness, flat quarterly results, and valuation concerns despite profit growth. The stock’s trend reversal today, after four consecutive days of decline, saw a modest gain outperforming the sector by 0.63%, but it remains well below key technical levels.
Summary of Key Price Levels
The stock’s 52-week high was Rs.2936.7, reached earlier in the year, highlighting the extent of the recent decline to Rs.1740.5. This represents a drop of approximately 40.7% from the peak price within the last 12 months.
Trading below all major moving averages suggests that the stock is currently in a bearish phase from a technical perspective. The recent slight gain may indicate short-term consolidation but does not yet signal a sustained recovery.
Sector and Market Comparison
While Poly Medicure Ltd has faced headwinds, the Healthcare Services sector as a whole remains robust, with the company holding a significant market share. The Sensex’s positive momentum contrasts with the stock’s underperformance, emphasising the stock-specific factors influencing its price movement.
Investors and market participants continue to monitor the company’s financial metrics and valuation multiples closely, given the disparity between profit growth and stock price performance.
Conclusion
Poly Medicure Ltd’s fall to a 52-week low of Rs.1740.5 reflects a combination of flat quarterly results, valuation concerns, and relative underperformance against the broader market and sector indices. Despite profit growth and a strong market position, the stock’s technical indicators and recent rating downgrade underscore the challenges it faces in regaining investor confidence.
With a significant institutional holding and a conservative debt profile, the company maintains fundamental strengths, but the current market valuation and price trends highlight the cautious stance adopted by market participants.
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