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Indian (NIFTY) Medical Equipment Industry Analysis
UpdatedMar 16, 2026
DataAggregated Company Financials
Companies18
- 7D-5.8%
- 3M-30.1%
- 1Y-43.9%
- YTD-25.4%
Over the last 7 days, the Medical Equipment industry has dropped 5.8%, driven by Poly Medicure declining 4.7%. Meanwhile, Yash Optics & Lens actually outperformed within the industry, gaining 18% in the last week. However, the industry is down 44% over the past year. Looking forward, earnings are forecast to grow by 18% annually.
Industry Valuation and Performance
Has the Indian Medical Equipment Industry valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Tue, 17 Mar 2026 | ₹178.7b | ₹35.6b | ₹4.9b | 20x | 36.7x | 5x |
| Thu, 12 Feb 2026 | ₹200.0b | ₹34.7b | ₹4.8b | 25.5x | 41.7x | 5.8x |
| Sat, 10 Jan 2026 | ₹240.3b | ₹32.6b | ₹4.7b | 26.4x | 51.3x | 7.4x |
| Mon, 08 Dec 2025 | ₹258.8b | ₹32.7b | ₹4.7b | 35.5x | 55.2x | 7.9x |
| Wed, 05 Nov 2025 | ₹299.4b | ₹31.4b | ₹4.6b | 33.2x | 64.5x | 9.5x |
| Fri, 03 Oct 2025 | ₹307.5b | ₹30.8b | ₹4.5b | 31.9x | 69x | 10x |
| Sun, 31 Aug 2025 | ₹250.2b | ₹28.7b | ₹4.3b | 30.9x | 58.4x | 8.7x |
| Tue, 29 Jul 2025 | ₹242.1b | ₹28.3b | ₹4.2b | 25.7x | 57.7x | 8.6x |
| Thu, 26 Jun 2025 | ₹262.6b | ₹28.0b | ₹4.2b | 25.7x | 62.4x | 9.4x |
| Sat, 24 May 2025 | ₹281.7b | ₹27.6b | ₹4.3b | 29x | 65.6x | 10.2x |
| Mon, 21 Apr 2025 | ₹281.4b | ₹26.9b | ₹4.0b | 22.8x | 70.4x | 10.5x |
| Wed, 19 Mar 2025 | ₹264.8b | ₹26.9b | ₹4.0b | 21x | 66.2x | 9.9x |
| Fri, 14 Feb 2025 | ₹265.5b | ₹26.4b | ₹3.9b | 23.4x | 67.9x | 10.1x |
| Sun, 12 Jan 2025 | ₹291.2b | ₹22.8b | ₹3.4b | 35.3x | 85.5x | 12.8x |
| Tue, 10 Dec 2024 | ₹310.5b | ₹22.8b | ₹3.4b | 32x | 91.1x | 13.6x |
| Thu, 07 Nov 2024 | ₹305.5b | ₹22.8b | ₹3.4b | 23.6x | 90.3x | 13.4x |
| Sat, 05 Oct 2024 | ₹255.7b | ₹22.1b | ₹3.2b | 34.2x | 80.6x | 11.6x |
| Mon, 02 Sep 2024 | ₹255.2b | ₹22.1b | ₹3.2b | 32.3x | 80.5x | 11.5x |
| Wed, 31 Jul 2024 | ₹207.2b | ₹22.2b | ₹3.2b | 27.3x | 65.5x | 9.3x |
| Fri, 28 Jun 2024 | ₹203.8b | ₹21.5b | ₹3.1b | 25.3x | 66.7x | 9.5x |
| Sun, 26 May 2024 | ₹187.3b | ₹20.9b | ₹3.0b | 28.5x | 62.9x | 9x |
| Tue, 23 Apr 2024 | ₹164.5b | ₹19.8b | ₹2.9b | 29.8x | 57.1x | 8.3x |
| Thu, 21 Mar 2024 | ₹154.8b | ₹19.2b | ₹2.8b | 22.1x | 55.5x | 8.1x |
| Sat, 17 Feb 2024 | ₹164.4b | ₹19.3b | ₹2.8b | 30x | 58.6x | 8.5x |
| Mon, 15 Jan 2024 | ₹155.4b | ₹19.0b | ₹2.7b | 38.2x | 58.4x | 8.2x |
| Wed, 13 Dec 2023 | ₹167.7b | ₹19.0b | ₹2.7b | 37.8x | 63x | 8.8x |
| Fri, 10 Nov 2023 | ₹155.2b | ₹18.9b | ₹2.7b | 37.7x | 58.1x | 8.2x |
| Sun, 08 Oct 2023 | ₹150.9b | ₹18.4b | ₹2.4b | 34.7x | 62x | 8.2x |
| Tue, 05 Sep 2023 | ₹148.9b | ₹18.4b | ₹2.4b | 28.7x | 61.2x | 8.1x |
| Thu, 03 Aug 2023 | ₹136.9b | ₹17.6b | ₹2.0b | 31.7x | 67.4x | 7.8x |
| Sat, 01 Jul 2023 | ₹125.1b | ₹17.6b | ₹2.0b | 26.7x | 61.6x | 7.1x |
| Mon, 29 May 2023 | ₹106.5b | ₹17.2b | ₹2.0b | 27.3x | 52.4x | 6.2x |
| Wed, 26 Apr 2023 | ₹104.0b | ₹16.6b | ₹1.8b | 24.8x | 58.9x | 6.2x |
| Fri, 24 Mar 2023 | ₹103.2b | ₹16.6b | ₹1.8b | 24.7x | 58.5x | 6.2x |
Price to Earnings Ratio
58.5x
Current Industry PE
- Investors are pessimistic on the Indian Medical Equipment industry, indicating that they anticipate long term growth rates will be lower than they have historically.
- The industry is trading at a PE ratio of 36.7x which is lower than its 3-year average PE of 63.5x.
- The 3-year average PS ratio of 8.9x is higher than the industry's current PS ratio of 5.0x.
Past Earnings Growth
- The earnings for companies in the Medical Equipment industry have grown 40% per year over the last three years.
- Revenues for these companies have grown 29% per year.
- This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.
Industry Trends
Which industries have driven the changes within the Indian Healthcare industry?
| IN Market | -4.42% | |
| Healthcare | -1.58% | |
| Medical Equipment | -5.83% | |
| Medical Equipment | -4.67% | |
| Medical Supplies | -6.05% | |
Industry PE
- Investors are most optimistic about the Medical Equipment industry even though it's trading below its 3-year average PE ratio of 72.0x.
- It looks like they are confident that earnings will grow faster in the future than they have historically.
- Investors are most pessimistic about the Medical Supplies industry, which is trading below its 3-year average of 61.9x.
Forecasted Growth
- Analysts are most optimistic on the Medical Supplies industry, expecting annual earnings growth of 18% over the next 5 years.
- This is better than its past earnings growth rate of 10% per year.
- In contrast, the Medical Supplies industry is expected to see its earnings grow by 18% per year over the next few years.
Top Stock Gainers and Losers
Which companies have driven the market over the last 7 days?
| Company | Last Price | 7D | 1Y | Valuation | |
|---|---|---|---|---|---|
| YASHOPTICS Yash Optics & Lens | ₹115.00 | 9.0% +₹234.0m | 53.1% | PE34.9x | |
| MHHL Mohini Health & Hygiene | ₹36.20 | 5.4% +₹33.7m | -37.0% | PS0.4x | |
| 538401 Maestros Electronics & Telecommunications Systems | ₹137.55 | 2.3% +₹17.1m | -19.7% | PE12.9x | |
| GML Galaxy Medicare | ₹16.80 | 4.3% +₹10.6m | n/a | PE6.9x | |
| 543309 Adeshwar Meditex | ₹17.94 | 2.0% +₹5.2m | 5.5% | PE13.7x |
