Poly Medicure Ltd Stock Hits 52-Week Low at Rs.1242.25 Amidst Continued Market Pressure

Stock Price Movement and Market Context

On 24 Feb 2026, Poly Medicure Ltd’s share price reached Rs.1242.25, the lowest level recorded in the past year. Despite a modest gain of 1.23% on the day and outperforming its sector by 0.76%, the stock remains well below its 52-week high of Rs.2936.7. The stock has shown a consecutive two-day gain, rising 2.06% over this period, yet it continues to trade below all major moving averages including the 5-day, 20-day, 50-day, 100-day, and 200-day averages, signalling sustained downward momentum.

The broader market environment has been challenging, with the Sensex falling by 479.66 points (-0.87%) to 82,572.88 after a negative opening. Although the Sensex remains within 4.34% of its 52-week high of 86,159.02, it is trading below its 50-day moving average, indicating some near-term weakness. The 50-day moving average, however, remains above the 200-day moving average, suggesting a longer-term uptrend for the benchmark index.

Financial Performance and Valuation Metrics

Poly Medicure’s financial results have contributed to the stock’s subdued performance. The company reported a quarterly Profit After Tax (PAT) of Rs.75.86 crores for the December 2025 quarter, reflecting an 11.0% decline compared to the previous period. Operating profit margins have also contracted, with the operating profit to net sales ratio falling to a quarterly low of 22.52%. Additionally, the company’s debtors turnover ratio for the half-year stood at 4.02 times, the lowest in recent periods, indicating slower collection efficiency.

Over the last five years, the company’s operating profit has grown at an annual rate of 17.77%, which is considered modest within the sector. Despite this, the company’s return on equity (ROE) remains at 12.4%, which, when combined with a price-to-book value of 4.4, points to a relatively expensive valuation. The PEG ratio of 3.1 further suggests that the stock’s price growth has outpaced earnings growth, which may be a factor in the current market sentiment.

Comparative Performance and Sector Positioning

Poly Medicure’s one-year stock performance has been notably weaker than the broader market, with a decline of 40.38% compared to the Sensex’s gain of 10.92% over the same period. The stock has also underperformed the BSE500 index across multiple time frames, including the last three years, one year, and three months. This underperformance reflects challenges in both long-term and near-term growth trajectories.

Within the Healthcare Services sector, Poly Medicure holds a significant position with a market capitalisation of Rs.12,863 crores, making it the second largest company after Lenskart Solutions. The company accounts for 11.85% of the sector’s market cap and contributes 16.54% of the industry’s annual sales, which total Rs.1,781.58 crores. Despite this sizeable footprint, the stock’s Mojo Score stands at 30.0 with a Mojo Grade of Sell, an improvement from a previous Strong Sell rating as of 11 Feb 2026.

Balance Sheet and Institutional Holdings

Poly Medicure maintains a conservative capital structure with an average debt-to-equity ratio of zero, indicating no reliance on debt financing. This low leverage reduces financial risk but has not translated into stronger stock performance in the current environment. Institutional investors hold 23.24% of the company’s shares, reflecting a moderate level of confidence from entities with extensive analytical resources.

Summary of Key Metrics

To summarise, Poly Medicure Ltd’s stock has declined to Rs.1242.25, its lowest level in 52 weeks, reflecting a combination of subdued earnings growth, compressed profit margins, and valuation concerns. The company’s operating profit growth rate of 17.77% over five years is moderate, while recent quarterly results show a decline in PAT and operating margins. The stock’s valuation metrics, including a price-to-book ratio of 4.4 and PEG ratio of 3.1, suggest that the market is pricing in expectations that have yet to be realised.

Despite a strong market position within the Healthcare Services sector and a debt-free balance sheet, the stock’s performance has lagged behind both sector peers and broader market indices. Institutional ownership remains significant, indicating some level of fundamental support, though this has not prevented the recent price decline.

Poly Medicure’s current market cap of Rs.12,863 crores and its contribution to sector sales underscore its importance in the industry, yet the stock’s recent price action highlights the challenges faced in maintaining investor confidence amid evolving market conditions.

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