Any current/future new fundraising through debt or equity?

The acquisition funding will be through a combination of internal accruals and bank funding. There is a possibility of a capital increase if approved by the board. The company has applied with NSE regarding the capital increase. If approved, they may explore certain ways and means for the capital increase. The primary approach remains internal accrual and bank funding. No immediate plans for other acquisitions or fundraising at this moment; focus is on consolidating current acquisition.

Any current/future capex/capital investment/strategic investment?

Current capital expenditures have been made primarily for patient service program equipment, such as diabetic retinopathy machines and BMD machines costing between ₹5-8 lakhs each, with an average equipment worth ₹15-16 lakhs per resource. The company expects to recover this capex within a year based on current operations; equipment lifespan is about 6-7 years. A recent acquisition of Saarathi Healthcare Services Pvt. Ltd. and Prometheus Healthcare Pvt. Ltd. represents a strategic investment aimed at expanding patient service programs and entering new customer segments. The acquisition was fun

Future growth expectations in sales/revenue/volumes?

The company targets a steady revenue growth of around 15-20% annually over the next five years. Focus on doubling service business revenue, aiming to cross ₹50 Crores within 2-3 years from the current ₹14-15 Crores. Camp business expansion is a key growth driver, with plans to increase daily camps (currently ~75/day), utilizing 65-70% of capacity. Growth driven by patient service programs (PSP) and integration with Saarathi post-acquisition, targeting a greater customer base and service expansion. Traditional medical device distribution (~₹100 Crores business) expected to grow steadily

Future growth expectations in earnings/operating earnings/profits/EPS?

The company targets a steady revenue growth of around 15-20% annually over the next five years. EBITDA margins are expected to be maintained or slightly improved with a current level around 17-18%. Patient Service Program (PSP) and service businesses are seen as key growth and profitability drivers, with expectations to double service business revenue to over ₹50 Crores in 2-3 years. Recent acquisitions (Saarathi, Prometheus) are expected to expand customer base and contribute significantly to profitability from FY2025 onwards. EPS showed strong growth in H1 FY2024 (from 1.53 to 2.81), signali

Current/ Expected Orderbook/ Pending Orders?

The company operates mainly on purchase orders basis rather than long-term contracts. For the product category, contracts are typically single purchase orders for a specified quantity and duration (e.g., one month delivery of 5,000 to 10,000 units). There are no yearly contracts in the product segment; however, the service business does have ongoing contracts for camps and service programs. Repeat orders are common, occurring about 10-15% of the time. No explicit mention of current or expected orderbook value or pending orders was provided in the transcript. Focus remains on growing service bu

QMS MedicalQ2 FY24Healthcare Equipment & Supplies

QMS Medical Q2 FY24 Earnings Call Analysis

Revenue, margin, capex, fundraise and order book outlook from management commentary.

Price: ₹196P/E: 35.4Market Cap: ₹380 CrSector: Healthcare Equipment & Supplies

Management growth scorecard

Revenue

Category 3

Margin

Category 3

Fundraise

Yes

Order

N/A

Capex

Yes

2 of 4 growth signals are positive.

Full analysis

Revenue guidance

Category 3

The company targets a steady revenue growth of around 15-20% annually over the next five years.
Focus on doubling service business revenue, aiming to cross ₹50 Crores within 2-3 years from the current ₹14-15 Crores.
Camp business expansion is a key growth driver, with plans to increase daily camps (currently ~75/day), utilizing 65-70% of capacity.
Growth driven by patient service programs (PSP) and integration with Saarathi post-acquisition, targeting a greater customer base and service expansion.
Traditional medical device distribution (~₹100 Crores business) expected to grow steadily, providing a stable revenue base.
Innovation through new product launches, digital marketing (Qdevices with brand ambassador Kapil Dev), and expanding service offerings.
Consolidation post-acquisition prioritized for the next year before considering further acquisitions or expansions.

Margin guidance

Category 3

The company targets a steady revenue growth of around 15-20% annually over the next five years.
EBITDA margins are expected to be maintained or slightly improved with a current level around 17-18%.
Patient Service Program (PSP) and service businesses are seen as key growth and profitability drivers, with expectations to double service business revenue to over ₹50 Crores in 2-3 years.
Recent acquisitions (Saarathi, Prometheus) are expected to expand customer base and contribute significantly to profitability from FY2025 onwards.
EPS showed strong growth in H1 FY2024 (from 1.53 to 2.81), signaling robust profitability improvement.
The company intends to consolidate current acquisitions for at least one year before considering further acquisitions, focusing on growth and margin improvement.
Traditional device business (~₹100 Crores) will remain steady, contributing reliable revenue and margins (9-10 Crores EBITDA).

See what QMS Medical management said on margin guidance — free account, 30 seconds.

Fundraise plans

Yes

The acquisition funding will be through a combination of internal accruals and bank funding.
There is a possibility of a capital increase if approved by the board.
The company has applied with NSE regarding the capital increase.
If approved, they may explore certain ways and means for the capital increase.
The primary approach remains internal accrual and bank funding.
No immediate plans for other acquisitions or fundraising at this moment; focus is on consolidating current acquisition.

Order book

The company operates mainly on purchase orders basis rather than long-term contracts.
For the product category, contracts are typically single purchase orders for a specified quantity and duration (e.g., one month delivery of 5,000 to 10,000 units).
There are no yearly contracts in the product segment; however, the service business does have ongoing contracts for camps and service programs.
Repeat orders are common, occurring about 10-15% of the time.
No explicit mention of current or expected orderbook value or pending orders was provided in the transcript.
Focus remains on growing service business, including recent acquisitions to increase customer base.

See what QMS Medical management said on order book — free account, 30 seconds.

Capex plans

Yes

Current capital expenditures have been made primarily for patient service program equipment, such as diabetic retinopathy machines and BMD machines costing between ₹5-8 lakhs each, with an average equipment worth ₹15-16 lakhs per resource.
The company expects to recover this capex within a year based on current operations; equipment lifespan is about 6-7 years.
A recent acquisition of Saarathi Healthcare Services Pvt. Ltd. and Prometheus Healthcare Pvt. Ltd. represents a strategic investment aimed at expanding patient service programs and entering new customer segments.
The acquisition was funded through a mix of internal accruals and bank funding, with possible capital increase pending board approval.
No additional acquisitions or major capital investments are planned immediately; focus will be on consolidating current investments and growing the acquired business over the next year.
The company plans to increase the camp operations capacity by adding 18 more personnel and expanding service offerings post-January after Saarathi integration.

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QMS Medical Q2 FY24 Earnings Call Analysis

Revenue guidance

Fundraise plans

Capex plans

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What QMS Medical's management said in earlier quarters

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