Financial Performance Overview
QMS Medical Allied Services Limited reported mixed financial results for FY 2025-26. Consolidated revenue grew 10.8% to ₹17,287.65 lakhs (₹15,601.41 lakhs in FY25), driven by sales of products (₹11,853.83 lakhs) and services (₹5,433.81 lakhs). However, net profit declined 16.2% to ₹1,013.21 lakhs (₹1,209.23 lakhs in FY25), with basic EPS at ₹5.40 compared to ₹6.65 previously. Standalone performance showed revenue growth of 5.13% to ₹15,229.73 lakhs but a sharper PAT decline of 35.79% to ₹669.08 lakhs.
Capital Raising and Corporate Actions
The company successfully completed a rights issue raising ₹12.04 crore through issuance of 14,87,443 equity shares at ₹81 per share. Proceeds were utilized for acquiring an additional 25% stake in subsidiary Saarathi Healthcare (increasing ownership from 51% to 76%), offer-related expenses, and general corporate purposes. The Board recommended a final dividend of ₹0.50 per equity share (5%) with record date set for September 23, 2026, and payment by October 30, 2026.
Subsidiary Performance and Related Party Transactions
Saarathi Healthcare Private Limited, the 76% subsidiary, reported turnover of ₹22.76 crore and PAT of ₹3.24 crore for FY26. The company is seeking shareholder approval for material related party transactions with Saarathi up to ₹20 crore for FY 2026-27, representing 11.57% of annual consolidated turnover. These transactions include sale/purchase of goods, loans and advances, and services on an arm's length basis.
Corporate Governance and Board Changes
The Board appointed Mr. Pranav Manhar Badheka as Additional Non-Executive Independent Director and re-appointed Mr. Mahesh Pahalraj Makhija as Managing Director. The company successfully migrated from NSE Emerge to Mainboard in June 2026. The 9th AGM is scheduled for September 30, 2026, to approve financial statements, dividend, director appointments, and related party transactions. Employee strength stood at 1,037 as of March 31, 2026, with significant increases in employee benefit expenses (up 58.8%) and finance costs (up 41.3%).
Financial Position and Ratios
The company maintained a current ratio of 1.42 and debt-equity ratio of 0.87. Key profitability ratios declined with operating profit margin falling from 16.41% to 13.70% and net profit margin contracting from 7.17% to 4.38%. Return on net worth decreased significantly from 11.84% to 6.42%. The balance sheet shows cash equivalents of ₹119.54 lakhs, trade receivables of ₹6,731.96 lakhs, and inventories of ₹4,591.64 lakhs as of March 31, 2026.