---
title: "QMS Medical Allied Services Ltd (QMSMEDI) — Share Price, Financials & Analysis"
symbol: "QMSMEDI"
company: "QMS Medical Allied Services Ltd"
canonical: "https://tapetide.com/stocks/QMSMEDI"
isin: "INE0FMW01018"
nse_symbol: "QMSMEDI"
sector: "Healthcare"
industry: "Medical Equipment"
market_cap_cr: 290.84
generated_at: "2026-09-13T19:16:06.546Z"
---

# QMS Medical Allied Services Ltd (QMSMEDI)

Canonical page: https://tapetide.com/stocks/QMSMEDI

## Company

- **NSE Symbol:** QMSMEDI
- **ISIN:** INE0FMW01018
- **Sector:** Healthcare
- **Industry:** Medical Equipment
- **Macro Sector:** Healthcare
- **Stock Type:** EQUITY
- **Listed Since:** 2022-10-11
- **Face Value:** ₹10
- **F&O Eligible:** No
- **Website:** qmsmas.com

## About

Incorporated in 2017, QMS Medical Allied  Services Ltd is a manufacturer and distributor of medical devices[1]

## Latest Price

- **Price:** ₹157.98
- **Change:** +7.52 (+5%)
- **Open:** ₹150.4
- **Day High:** ₹157.98
- **Day Low:** ₹150.4
- **Previous Close:** ₹150.46
- **Volume:** 30304
- **As Of:** 2026-09-11T09:57:15+00:00

## Key Fundamentals

Observed at 2026-09-11T04:39:10.381508Z.

- **Market Cap:** ₹290.84 Cr
- **Classification:** Microcap
- **P/E (reported):** 23.1
- **P/E (TTM):** 28.41
- **EPS (TTM):** ₹5.56
- **Book Value:** ₹53.88
- **Price to Book:** 2.79
- **Dividend Yield:** 0.33%
- **ROE:** 12.79%
- **ROCE:** 19.97%
- **Debt to Equity:** 0.65
- **Revenue (yearly):** ₹172.88 Cr
- **Net Income:** ₹11.76 Cr
- **EBITDA:** ₹25.88 Cr
- **52-Week High:** ₹165
- **52-Week Low:** ₹68.95
- **RSI (14):** 58.49

## Tapetide Score

- **Score:** 52 / 100
- **Score date:** 2026-09-04
- **Archetype:** Quality at a Reasonable Price
- **What it means:** Financial strength is not being paid for with a demanding multiple. The question worth asking is whether the quality is durable or reflects a good patch — check the consistency of returns over several years rather than the latest quarter.
- **Pillar profile:** Quality: Good · Valuation: Fair · Momentum: Rising
- **Percentile:** 56.6 (of 4473 scored stocks)
- **Confidence:** 98%
- **Data coverage:** 95%

| Pillar | Score | Weight |
| --- | --- | --- |
| financial health | 37.16 | 9% |
| growth | 45.55 | 9% |
| momentum | 98.9 | 12% |
| ownership | 50 | 24% |
| quality | 63.42 | 22% |
| valuation | 50.29 | 24% |

The Tapetide Score is decision-support only, not investment advice.

## Key Insights

### Weaknesses

- Stock is trading at 2.93 times its book value
- Company has a low return on equity of 12.0% over last 3 years.
- Promoter holding has decreased over last 3 years: -5.56%

## Growth Rates

| Metric | QoQ | 1Y | 3Y | 5Y |
| --- | --- | --- | --- | --- |
| cash flow growth | — | — | 254.53% | 311.57% |
| ebitda margin growth | 42.62% | -13.49% | -3% | — |
| net income growth | 110.53% | -14.16% | 30.67% | — |
| revenue growth | 28.48% | 9.63% | 12.14% | — |
| roce | 53.16% | 5.77% | 5.77% | — |
| roe | 110.64% | 11.51% | 12.13% | — |

## Financial Statements

### Quarterly Results

All figures in ₹ crore unless the row name says otherwise.

| Item | Dec 2023 | Mar 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 35.24 | 32.29 | 37.2 | 43.87 | 44.58 | 46.5 | 44.7 | 37.26 | 44.42 | 56.87 |
| Expenses | 30.4 | 28.34 | 29.96 | 36.93 | 38.21 | 39.96 | 37.78 | 30.51 | 38.5 | 48.56 |
| Operating Profit | 4.84 | 3.95 | 7.24 | 6.94 | 6.37 | 6.54 | 6.92 | 6.75 | 5.92 | 8.31 |
| OPM % | 13.73 | 12.23 | 19.46 | 15.82 | 14.29 | 14.06 | 15.48 | 18.12 | 13.33 | 14.61 |
| Other Income | 0.15 | 0.11 | 0.33 | 0.19 | 1.09 | 0.32 | 0.22 | 0.3 | 0.22 | 0.42 |
| Interest | 0.81 | 0.99 | 1.07 | 1.31 | 1.41 | 1.44 | 1.36 | 1.75 | 2.08 | 1.71 |
| Depreciation | 0.88 | 0.88 | 0.84 | 0.86 | 1.36 | 0.93 | 0.94 | 1.02 | 1.39 | 1.47 |
| Profit before tax | 3.3 | 2.19 | 5.66 | 4.96 | 4.69 | 4.49 | 4.84 | 4.28 | 2.67 | 5.55 |
| Tax % | 25.76 | 29.68 | 25.27 | 30.24 | 23.24 | 29.62 | 26.24 | 25.7 | 29.21 | 28.65 |
| Net Profit | 2.44 | 1.54 | 4.23 | 3.47 | 3.6 | 3.16 | 3.58 | 3.17 | 1.88 | 3.96 |
| EPS in Rs | 1.26 | 0.8 | 1.78 | 1.51 | 1.73 | 1.52 | 1.61 | 1.24 | 0.82 | 1.89 |

### Profit & Loss

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
| --- | --- | --- | --- | --- |
| Sales | 122 | 156 | 173 | 183 |
| Expenses | 104 | 130 | 146 | 155 |
| Operating Profit | 18 | 25 | 27 | 28 |
| OPM % | 15 | 16 | 15 | 15 |
| Other Income | 0 | 2 | 1 | 1 |
| Interest | 3 | 5 | 7 | 7 |
| Depreciation | 3 | 4 | 5 | 5 |
| Profit before tax | 12 | 19 | 16 | 17 |
| Tax % | 26 | 27 | 28 | — |
| Net Profit | 9 | 14 | 12 | 13 |
| EPS in Rs | 4.66 | 6.26 | 5.21 | 5.56 |
| Dividend Payout % | 0 | 0 | 10 | — |

### Balance Sheet

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- |
| Equity Capital | 18 | 18 | 19 |
| Reserves | 61 | 72 | 85 |
| Borrowings | 35 | 60 | 68 |
| Other Liabilities | 22 | 40 | 41 |
| Total Liabilities | 135 | 190 | 213 |
| Fixed Assets | 24 | 53 | 57 |
| CWIP | 2 | 3 | 0 |
| Investments | 2 | 3 | 5 |
| Other Assets | 108 | 131 | 150 |
| Total Assets | 135 | 190 | 213 |

### Cash Flow

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- |
| Cash from Operating Activity | 1 | 20 | 19 |
| Cash from Investing Activity | -3 | -45 | -20 |
| Cash from Financing Activity | 0 | 26 | 1 |
| Net Cash Flow | -1 | 1 | 0 |
| Free Cash Flow | 1 | 20 | 19 |
| CFO/OP | 26 | 101 | 91 |

### Ratios

| Item | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- |
| Debtor Days | 124 | 101 | 142 |
| Inventory Days | 172 | 176 | 181 |
| Days Payable | 90 | 76 | 73 |
| Cash Conversion Cycle | 205 | 202 | 250 |
| Working Capital Days | 148 | 100 | 105 |
| ROCE % | — | 17 | 13 |

## Shareholding Pattern

### Quarterly

| Category | Jun 2022 | Sep 2022 | Dec 2022 | Mar 2023 | Sep 2023 | Mar 2024 | Sep 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Mar 2026 | Jun 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Promoters | 100% | 100% | 73.67% | 73.67% | 73.67% | 73.67% | 73.67% | 73.67% | 73.67% | 68.11% | 68.11% | 68.11% |
| FIIs | 0% | 0% | 0% | 1.21% | 1.02% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| DIIs | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 1.6% | 1.59% | 1.59% |
| Government | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Public | 0% | 0% | 17.2% | 18.16% | 21.07% | 22.17% | 22.99% | 22.95% | 23.07% | 26.99% | 26.78% | 26.17% |
| Others | 0% | 0% | 9.13% | 6.96% | 4.24% | 4.16% | 3.34% | 3.38% | 3.27% | 3.3% | 3.52% | 4.12% |
| No. of Shareholders | 7 | 7 | 925 | 1041 | 1213 | 1586 | 1695 | 1519 | 1489 | 1564 | 1499 | 1474 |

## Technical Indicators

Derived from daily closing prices and recomputed each trading session; values move with the market.

- **Overall Signal:** Strong Buy
- **Buy / Neutral / Sell:** 12 / 6 / 1

### Moving Averages — summary: **Strong Buy**

| Indicator | Value | Signal |
| --- | --- | --- |
| SMA (10) | 157.22 | Buy |
| EMA (10) | 154.56 | Buy |
| SMA (20) | 151.07 | Buy |
| EMA (20) | 148.85 | Buy |
| SMA (50) | 127.84 | Buy |
| EMA (50) | 132.47 | Buy |
| SMA (100) | 109.65 | Buy |
| EMA (100) | 117.7 | Buy |
| SMA (200) | 98.91 | Buy |
| EMA (200) | 106.09 | Buy |

### Oscillators — summary: **Buy**

| Indicator | Value | Signal |
| --- | --- | --- |
| RSI (14) | 65.75 | Neutral |
| MACD (12,26,9) | 8.66 | Sell |
| Stochastic (14,3,3) | 51.28 | Neutral |
| ADX (14) | 56.75 | Buy |
| Williams %R (14) | -29.52 | Neutral |
| ATR (14) | 7.15 | High Volatility |
| ROC (12) | 3.44 | Buy |
| Stoch RSI (14) | 29.27 | Neutral |
| UO (7,14,28) | 47.8 | Neutral |

## Filings & Documents

### Exchange Filings & Announcements

| Date | Document |
| --- | --- |
| 2026-09-08 | [Copy of Newspaper Publication](https://nsearchives.nseindia.com/corporate/QMS_08092026170547_Covering_Letter_merged.pdf) |
| 2026-09-07 | [Updates](https://nsearchives.nseindia.com/corporate/QMS_07092026190113_Annual_Report_Intimation_SD_Final.pdf) |
| 2026-09-07 | [Record Date](https://nsearchives.nseindia.com/corporate/QMS_07092026190653_Record_date_and_Book_closure.pdf) |
| 2026-09-07 | [Shareholders meeting](https://nsearchives.nseindia.com/corporate/QMS_07092026183942_SdAgm_Notice_QMS.pdf) |
| 2026-09-07 | [General Updates](https://nsearchives.nseindia.com/corporate/QMS_07092026193340_Annual_Report-_Reg_36.pdf) |
| 2026-09-03 | [Appointment](https://nsearchives.nseindia.com/corporate/QMS_03092026210357_Outcome.pdf) |
| 2026-08-27 | [Press Release](https://nsearchives.nseindia.com/corporate/QMS_27082026112553_NSE_intimationSd.pdf) |
| 2026-08-19 | [General Updates](https://nsearchives.nseindia.com/corporate/QMS_19082026151718_NSE_IntimationFINALsd.pdf) |
| 2026-08-15 | [Copy of Newspaper Publication](https://nsearchives.nseindia.com/corporate/QMS_15082026181130_SdNewspaperAdvertisement.pdf) |
| 2026-08-14 | [Analysts/Institutional Investor Meet/Con. Call Updates](https://nsearchives.nseindia.com/corporate/QMS_14082026175932_ANALYSTMEET.pdf) |

### Results & Financial Statements

| Date | Document |
| --- | --- |
| 2026-09-03 | [Outcome of Board Meeting](https://nsearchives.nseindia.com/corporate/QMS_03092026205646_Outcome.pdf) |
| 2026-08-14 | [Outcome of Board Meeting](https://nsearchives.nseindia.com/corporate/QMS_14082026162251_FinancialsJune26.pdf) |

### Earnings Call Transcripts

| Date | Document |
| --- | --- |
| 2026-08-21 | [Analysts/Institutional Investor Meet/Con. Call Updates](https://nsearchives.nseindia.com/corporate/QMS_21082026161003_NSETranscriptforuploading_sd.pdf) |

### Investor Presentations

| Date | Document |
| --- | --- |
| 2026-08-17 | [Investor Presentation](https://nsearchives.nseindia.com/corporate/QMS_17082026125027_Revised_Announcement_and_Presentation.pdf) |
| 2026-08-17 | [Investor Presentation](https://nsearchives.nseindia.com/corporate/QMS_17082026111731_Investor_presentation_announcement_signed.pdf) |

### Earnings Call Recordings

| Date | Document |
| --- | --- |
| 2026-08-17 | [Analysts/Institutional Investor Meet/Con. Call Updates](https://nsearchives.nseindia.com/corporate/QMS_17082026181254_outcome_Earning_Call_Audio_recording_signed.pdf) |

### Other Documents

| Date | Document |
| --- | --- |
| 5 June 2026 - Company filed promoters’ Regulation 31(4) disclosure under SEBI takeover regulations. | [Disclosure under SEBI Takeover Regulations 5 June 2026 - Company filed promoters’ Regulation 31(4) disclosure under SEBI takeover regulations.](https://nsearchives.nseindia.com/corporate/team_bbodade_20052026190342_QMSMEDI.pdf) |
| 4 June 2026 - QMS Medical released Q4/FY26 investor presentation; FY26 revenue rose 11% to ₹172.9 crore, PAT fell 13% to ₹11.9 crore. | [Analysts/Institutional Investor Meet/Con. Call Updates 4 June 2026 - QMS Medical released Q4/FY26 investor presentation; FY26 revenue rose 11% to ₹172.9 crore, PAT fell 13% to ₹11.9 crore.](https://nsearchives.nseindia.com/corporate/QMS_04062026111529_SdInvestorPresentation.pdf) |
| 4 June 2026 - Board approved FY26 audited results, Rs0.50 dividend, internal auditor reappointment, and NSE Emerge migration IM. | [General Updates 4 June 2026 - Board approved FY26 audited results, Rs0.50 dividend, internal auditor reappointment, and NSE Emerge migration IM.](https://nsearchives.nseindia.com/corporate/QMS_04062026183716_Clarification_letter.pdf) |
| 4 June 2026 - Audio recording uploaded for FY26 audited results earnings call held June 4, 2026. | [Analysts/Institutional Investor Meet/Con. Call Updates 4 June 2026 - Audio recording uploaded for FY26 audited results earnings call held June 4, 2026.](https://nsearchives.nseindia.com/corporate/QMS_04062026193721_AudioRecording_sd.pdf) |
| 30 May 2026 - QMS Medical reports no deviation in ₹12.0483 crore rights issue proceeds for quarter ended March 31, 2026. | [Statement of deviation(s) or variation(s) under Reg. 32 30 May 2026 - QMS Medical reports no deviation in ₹12.0483 crore rights issue proceeds for quarter ended March 31, 2026.](https://nsearchives.nseindia.com/corporate/QMS_30052026170358_SdStatement_of_deviation.pdf) |
| 30 May 2026 - QMS Medical Allied Services will host Q4 and FY26 earnings call on June 4, 2026. | [Analysts/Institutional Investor Meet/Con. Call Updates 30 May 2026 - QMS Medical Allied Services will host Q4 and FY26 earnings call on June 4, 2026.](https://nsearchives.nseindia.com/corporate/QMS_30052026175147_SdIntimation_Earning_CalL.pdf) |
| 30 May 2026 - FY2026 audited standalone and consolidated results approved; Rs0.50 dividend recommended; IM for NSE main-board migration cleared. | [Outcome of Board Meeting 30 May 2026 - FY2026 audited standalone and consolidated results approved; Rs0.50 dividend recommended; IM for NSE main-board migration cleared.](https://nsearchives.nseindia.com/corporate/QMS_30052026173952_NSE_Outcome.pdf) |
| 30 May 2026 - Board approved FY26 audited results, Rs0.50 dividend, internal auditor reappointment, and IM for NSE Main Board migration. | [Dividend 30 May 2026 - Board approved FY26 audited results, Rs0.50 dividend, internal auditor reappointment, and IM for NSE Main Board migration.](https://nsearchives.nseindia.com/corporate/QMS_30052026164320_NSE_Outcome.pdf) |
| 30 May 2026 - Board approved FY26 audited results, Rs0.50 dividend, and NSE Emerge-to-Main Board migration IM. | [Outcome of Board Meeting 30 May 2026 - Board approved FY26 audited results, Rs0.50 dividend, and NSE Emerge-to-Main Board migration IM.](https://nsearchives.nseindia.com/corporate/QMS_30052026210757_NSEOutcome.pdf) |
| 3 June 2026 - NSE granted in-principle approval for QMS Medical Allied Services’ migration from SME to Main Board. | [General Updates 3 June 2026 - NSE granted in-principle approval for QMS Medical Allied Services’ migration from SME to Main Board.](https://nsearchives.nseindia.com/corporate/QMS_03062026201224_Reg_30-In_Prcinciple_Approval_Sd.pdf) |

### Annual Reports

| Date | Document |
| --- | --- |
| from nse | [Annual Report 2026 from nse](https://archives.nseindia.com/annual_reports/AR_31761_QMSMEDI_2025_2026_A_2420552_07092026185846.pdf) |
| from nse | [Annual Report 2025 from nse](https://archives.nseindia.com/annual_reports/SME_AR_29037_QMSMEDI_2024_2025_A_4962881_13092025172742.pdf) |
| from nse | [Annual Report 2024 from nse](https://archives.nseindia.com/annual_reports/SME_AR_25695_QMSMEDI_2023_2024_04092024175248.pdf) |
| from nse | [Annual Report 2023 from nse](https://archives.nseindia.com/annual_reports/SME_AR_23300_QMSMEDI_2022_2023_02092023185713_09022023190006.zip) |

### Earnings Call Documents

| Date | Document |
| --- | --- |
| Sep 2023 | [Concall - Sep 2023](https://archives.nseindia.com/corporate/QMSMEDI_16082023131252_TranscriptNSEFinal.pdf) |
| Nov 2025 | [Concall - Nov 2025](https://nsearchives.nseindia.com/corporate/QMS_20112025151137_SdTranscriptcall.pdf) |
| Nov 2024 | [Concall - Nov 2024](https://nsearchives.nseindia.com/corporate/QMSMEDI_26112024124730_NSELETTERFINALSD.pdf) |
| Nov 2023 | [Concall - Nov 2023](https://nsearchives.nseindia.com/corporate/QMSMEDI_24112023135529_Lettertonsesigned.pdf) |
| May 2024 | [Concall - May 2024](https://nsearchives.nseindia.com/corporate/QMSMEDI_29052024145811_TranscripttoNSEfinalSD.pdf) |
| Feb 2024 | [Concall - Feb 2024](https://nsearchives.nseindia.com/corporate/QMSMEDI_19022024173446_TranscripttoNSESD.pdf) |
| Aug 2025 | [Concall - Aug 2025](https://nsearchives.nseindia.com/corporate/QMS_22082025182000_SdTranscript.pdf) |
| Aug 2024 | [Concall - Aug 2024](https://nsearchives.nseindia.com/corporate/QMSMEDI_31082024173803_NSELetterFsd.pdf) |

---

Provenance differs by section. Financial statements, shareholding and filings are as reported in company disclosures to NSE/BSE/SEBI. Price, volume and 52-week levels are exchange market data. Technical indicators are computed by Tapetide from daily closing prices. The Tapetide Score is Tapetide's own analysis. Analyst ratings are third-party estimates, not company statements. All figures are for research and information only and are not investment advice. Generated 2026-09-13T19:16:06.546Z.