Sahajanand Medical TechnologiesIPO Review — Financials, Valuation & Peers
A data-only look at the Sahajanand Medical Technologies IPO: restated financials, valuation ratios, the RHP peer group and third-party analyst views. ipostation does not rate IPOs — nothing here is a recommendation.
Financials (₹ Cr)
| Period Ended | Revenue | PAT | EBITDA | Net Worth | Total Assets | Borrowings | EPS (₹) |
|---|---|---|---|---|---|---|---|
| FY 2024 | 908.59 | -7.35 | 110.05 | 526.3 | 970.58 | 175.27 | — |
| FY 2025 | 1,035.96 | 25.15 | 128.02 | 545.23 | 1,094.9 | 224.96 | — |
| FY 2026 | 1,218.73 | 69.08 | 170.66 | 616.05 | 1,276.43 | 269.53 | — |
| Jun 2026 (interim) | 354.33 | 15.09 | 48.58 | 631.72 | 1,309 | 320.63 | 6.8 |
Restated figures from the offer document. Amounts in ₹ crore; EPS in ₹ per share. FY = the 12 months ended 31 March. Interim periods cover part of a year and are not comparable to the full-year rows.
KPIs & Valuation
- P/E (pre-issue)
- 50.59x
- P/E (post-issue)
- 57.91x
- RoNW
- 2.31%
- RoE
- 2.07%
- RoCE
- 3.16%
- Debt / Equity
- 0.33
- EPS (pre-issue)
- ₹6.8
- EPS (post-issue)
- ₹5.94
- EBITDA Margin
- 13.81%
- PAT Margin
- 4.29%
- P/BV
- 5.48x
- NAV / share
- ₹64.35
- Market Cap
- ₹3,496.65 Cr
As of 30 Jun 2026 (latest reported period in the offer document). Market cap is computed on a post-issue basis at the upper price band.
Peer Comparison
| Company | EPS (₹) | NAV (₹) | P/E | RoNW | P/BV |
|---|---|---|---|---|---|
| Sahajanand Medical Technologies | 6.67 | 62.76 | — | 10.6% | — |
| Laxmi Dental | 5.27 | 44.27 | 36.35x | 11.91% | 4.34x |
| Poly Medicure | 31.79 | 306.4 | 51.4x | 10.37% | 0x |
Peer group as disclosed in the offer document, figures as of 31 Mar 2025. The issuer’s P/E is computed at the upper price band.
Promoters & Shareholding
Promoters: <p>Bhargav Dhirajlal Kotadia, Dhirajlal Vallabhbhai Kotadia, Priyanka Dhirajlal Cohen, Shree Hari Trust</p>
- Holding (pre-issue)
- 40.82%
- Holding (post-issue)
- 36.2%
- Dilution
- 4.62%
Analysis in brief
Margin and return profile
Beyond the headline pricing, the disclosed operating profile stands on its own numbers. Sahajanand Medical Technologies operates at an EBITDA margin of 13.81% and a net (PAT) margin of 4.29% — the share of revenue retained at the operating and the net level respectively. Capital efficiency reads at a return on capital employed (RoCE) of 3.16% and a return on equity (RoE) of 2.07%. At the upper band, the post-issue market capitalisation works out to about ₹3,496.65 crore. These are offer-document figures for the latest reported period (as of 30 Jun 2026); they describe the business as disclosed, not how the stock will trade.
Financials
In FY2026, Sahajanand Medical Technologies reported revenue of ₹354.33 crore and a net profit of ₹15.09 crore. Revenue declined from ₹908.59 crore in FY2024 to ₹354.33 crore in FY2026 (-61.0%). Net worth stood at ₹631.72 crore at the end of FY2026. At the upper band, that puts the issue at roughly 50.6× FY2026 earnings (P/E), a figure worth comparing against listed peers in the sector.
Valuation
At the upper band, the issue is priced at 57.91× post-issue earnings and 5.48× book value, against a return on net worth of 2.31% and a debt-to-equity ratio of 0.33. These ratios come from the offer document and are for comparison, not a recommendation.
Peer comparison
The offer document names listed peers including Laxmi Dental and Poly Medicure, with a median peer P/E of about 43.9×. The issue's own post-issue P/E works out to 57.91×.
Promoters
The promoters of the company are <p>Bhargav Dhirajlal Kotadia, Dhirajlal Vallabhbhai Kotadia, Priyanka Dhirajlal Cohen, Shree Hari Trust</p>. Promoter holding stands at 40.82% before the issue and comes down to 36.2% after listing.
Frequently asked questions
- Who are the promoters of Sahajanand Medical Technologies and what is their holding?
- The promoters are <p>Bhargav Dhirajlal Kotadia, Dhirajlal Vallabhbhai Kotadia, Priyanka Dhirajlal Cohen, Shree Hari Trust</p>. Promoter holding is 40.82% before the issue and 36.2% after listing.
- What is the P/E ratio of the Sahajanand Medical Technologies IPO?
- At the upper price band, the Sahajanand Medical Technologies IPO is valued at 50.59× pre-issue earnings and 57.91× post-issue earnings, based on the financials disclosed in the offer document.