Narrative Update • Jun 06
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Indian (NIFTY) Medical Equipment Industry Analysis
UpdatedJun 11, 2026
DataAggregated Company Financials
Companies20
- 7D3.1%
- 3M5.2%
- 1Y-40.8%
- YTD-17.9%
The Medical Equipment industry is up 3.1% in the last week, with Poly Medicure up 5.7%. During this same period, the Laxmi Dental underperformed, falling 6.8%. In contrast, the industry has lost 41% in the last 12 months. As for the next few years, earnings are expected to grow by 21% per annum.
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 |
|---|---|---|---|---|---|---|
| Thu, 11 Jun 2026 | ₹206.2b | ₹41.1b | ₹5.0b | 23.4x | 41x | 5x |
| Sat, 09 May 2026 | ₹224.3b | ₹36.1b | ₹4.9b | 25.7x | 45.7x | 6.2x |
| Mon, 06 Apr 2026 | ₹189.8b | ₹35.7b | ₹4.9b | 21.3x | 38.9x | 5.3x |
| Wed, 04 Mar 2026 | ₹186.3b | ₹35.6b | ₹4.9b | 21.3x | 38.2x | 5.2x |
| Fri, 30 Jan 2026 | ₹207.0b | ₹32.7b | ₹4.7b | 24.5x | 43.6x | 6.3x |
| Sun, 28 Dec 2025 | ₹241.4b | ₹32.6b | ₹4.7b | 30.7x | 51.5x | 7.4x |
| Tue, 25 Nov 2025 | ₹259.8b | ₹32.7b | ₹4.7b | 33.1x | 55.4x | 7.9x |
| Thu, 23 Oct 2025 | ₹301.9b | ₹30.9b | ₹4.5b | 33.4x | 67.2x | 9.8x |
| Sat, 20 Sep 2025 | ₹248.9b | ₹31.9b | ₹4.4b | 33.4x | 56.2x | 7.8x |
| Mon, 18 Aug 2025 | ₹230.9b | ₹28.7b | ₹4.3b | 27.2x | 53.9x | 8x |
| Wed, 16 Jul 2025 | ₹264.9b | ₹28.2b | ₹4.2b | 25x | 63.1x | 9.4x |
| Fri, 13 Jun 2025 | ₹266.8b | ₹28.0b | ₹4.2b | 24.5x | 63.4x | 9.5x |
| Sun, 11 May 2025 | ₹298.5b | ₹28.7b | ₹4.3b | 26.4x | 69.4x | 10.4x |
| Tue, 08 Apr 2025 | ₹237.5b | ₹26.9b | ₹4.0b | 23x | 59.4x | 8.8x |
| Thu, 06 Mar 2025 | ₹258.8b | ₹26.9b | ₹4.0b | 21.7x | 64.8x | 9.6x |
| Sat, 01 Feb 2025 | ₹281.5b | ₹25.5b | ₹3.7b | 24.2x | 76.3x | 11x |
| Mon, 30 Dec 2024 | ₹274.3b | ₹22.8b | ₹3.4b | 32.3x | 80.5x | 12x |
| Wed, 27 Nov 2024 | ₹297.4b | ₹22.8b | ₹3.4b | 31.5x | 87.4x | 13.1x |
| Fri, 25 Oct 2024 | ₹277.5b | ₹21.9b | ₹3.2b | 32x | 87.9x | 12.6x |
| Sun, 22 Sep 2024 | ₹256.2b | ₹22.1b | ₹3.2b | 33.7x | 80.8x | 11.6x |
| Tue, 20 Aug 2024 | ₹221.7b | ₹22.1b | ₹3.2b | 31.3x | 69.9x | 10x |
| Thu, 18 Jul 2024 | ₹222.7b | ₹21.6b | ₹3.1b | 28.5x | 72.9x | 10.3x |
| Sat, 15 Jun 2024 | ₹205.9b | ₹20.9b | ₹3.0b | 27.6x | 67.7x | 9.9x |
| Mon, 13 May 2024 | ₹169.6b | ₹20.0b | ₹2.9b | 30.8x | 58.6x | 8.5x |
| Wed, 10 Apr 2024 | ₹165.0b | ₹19.8b | ₹2.9b | 28.1x | 57.3x | 8.4x |
| Fri, 08 Mar 2024 | ₹163.5b | ₹19.2b | ₹2.8b | 23.6x | 58.7x | 8.5x |
| Sun, 04 Feb 2024 | ₹160.4b | ₹19.6b | ₹2.8b | 37.6x | 57.1x | 8.2x |
| Tue, 02 Jan 2024 | ₹155.8b | ₹19.0b | ₹2.7b | 37.4x | 58.6x | 8.2x |
| Thu, 30 Nov 2023 | ₹159.5b | ₹19.0b | ₹2.7b | 38.1x | 60x | 8.4x |
| Sat, 28 Oct 2023 | ₹144.4b | ₹18.4b | ₹2.4b | 36.3x | 59.4x | 7.9x |
| Mon, 25 Sep 2023 | ₹147.3b | ₹18.4b | ₹2.4b | 34.3x | 60.6x | 8x |
| Wed, 23 Aug 2023 | ₹152.0b | ₹18.4b | ₹2.4b | 30.3x | 62.5x | 8.3x |
| Fri, 21 Jul 2023 | ₹121.0b | ₹17.6b | ₹2.0b | 28x | 59.6x | 6.9x |
| Sun, 18 Jun 2023 | ₹123.1b | ₹17.6b | ₹2.0b | 24.3x | 60.6x | 7x |
Price to Earnings Ratio
60.6x
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 41.0x which is lower than its 3-year average PE of 62.3x.
- 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 35% per year over the last three years.
- Revenues for these companies have grown 33% 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 | -1.22% | |
| Healthcare | 0.86% | |
| Medical Equipment | 3.11% | |
| Medical Supplies | 4.11% | |
| Medical Equipment | -3.40% | |
Industry PE
- Investors are most optimistic about the Medical Equipment industry even though it's trading below its 3-year average PE ratio of 82.1x.
- 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 60.9x.
Forecasted Growth
- Analysts are most optimistic on the Medical Supplies industry, expecting annual earnings growth of 21% over the next 5 years.
- This is better than its past earnings decline of 4.8% per year.
- In contrast, the Medical Supplies industry is expected to see its earnings grow by 21% 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 | |
|---|---|---|---|---|---|
| 531768 Poly Medicure | ₹1.48k | 5.2% +₹7.3b | -33.8% | PE46.5x | |
| QLINE Q-Line Biotech | ₹504.35 | 7.0% +₹771.0m | n/a | PE26.1x | |
| 524743 Fischer Medical Ventures | ₹34.72 | 3.1% +₹668.0m | -58.6% | PE72.1x | |
| 544549 Earkart | ₹120.00 | 0.8% +₹13.8m | n/a | PE33.5x |