{"id":220194,"date":"2026-08-27T11:33:52","date_gmt":"2026-08-27T06:03:52","guid":{"rendered":"https:\/\/univest.in\/blogs-2\/?p=220194"},"modified":"2026-08-27T11:33:53","modified_gmt":"2026-08-27T06:03:53","slug":"medical-devices-and-equipment-manufacturing-stocks-india-future-roadmaps-2026","status":"publish","type":"post","link":"https:\/\/univest.in\/blogs-2\/medical-devices-and-equipment-manufacturing-stocks-india-future-roadmaps-2026\/","title":{"rendered":"Medical Devices and Equipment Manufacturing Stocks in India with Strong Future Roadmaps as PLI Import Substitution, Healthcare Infrastructure Investment, and Export Growth Reshape a Historically Import-Dependent Sector"},"content":{"rendered":"
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India medical devices market FY26: Rs 90,000 Cr+. Poly Medicure MCap Rs 17,546 Cr, PE 56.07 below sector 66.74, ROE 10.37%. Opto Circuits LOSS-MAKING, ROE -20.24% CAUTION, negative equity. Extremely thin listed universe. 2-3 meaningful pure-plays. 5 picks: POLYMEDICURE, OPTOCIRCUIT, TTKHEALTH(ref), NARANG(unlisted ref), TRIVITRON(unlisted ref).<\/em><\/p>\n

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Quick Answer<\/strong><\/p>\n

Poly Medicure is India’s primary listed medical devices and equipment manufacturing stock, producing disposable medical devices including IV cannulas and infusion sets, trading at PE 56.07, below the medical devices and equipment manufacturing stocks sector PE of 66.74, with a solid ROE of 10.37%. Opto Circuits India, once a significant medical device exporter, is currently severely distressed with negative ROE of -20.24% and negative book equity, requiring extreme caution. India’s medical devices sector, historically import-dependent, benefits from PLI incentives aimed at building domestic manufacturing capability.<\/p>\n<\/div>\n

India’s medical devices industry has historically been substantially import-dependent, particularly for higher-technology diagnostic and surgical equipment, prompting government PLI incentives aimed at building domestic manufacturing capability and reducing this import reliance amid rising healthcare infrastructure investment.<\/p>\n

For investors, this thin sector shows Poly Medicure as the primary viable option, while Opto Circuits requires significant caution given its distress. All data is as of 26 August 2026.<\/p>\n

Click Here – Get Free Investment Predictions<\/strong><\/a><\/p>\n

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