{"id":328324,"date":"2026-10-27T12:35:28","date_gmt":"2026-10-27T07:05:28","guid":{"rendered":"https:\/\/univest.in\/blogs-2\/?p=328324"},"modified":"2026-10-27T12:35:28","modified_gmt":"2026-10-27T07:05:28","slug":"hospital-network-operator-respiratory-medicines-leader-and-infusion-and-catheter-devices-maker-stocks-roadmap-paragon-list","status":"publish","type":"post","link":"https:\/\/univest.in\/blogs-2\/hospital-network-operator-respiratory-medicines-leader-and-infusion-and-catheter-devices-maker-stocks-roadmap-paragon-list\/","title":{"rendered":"3 Hospital Network Operator, Respiratory Medicines Leader and Infusion and Catheter Devices Maker Stocks With a Strong Future Roadmap: Fortis Healthcare, Cipla and Poly Medicure"},"content":{"rendered":"<p style=\"border-left:4px solid #1F4E79;background:#EBF3FB;padding:10px 16px;font-style:italic;\"><em>Fortis Healthcare, Cipla and Poly Medicure: ROE of 10.4% to 11.3% and FY22 to FY26 revenue CAGR of 7.1% to 20.0%. Prices as of 26 Oct 2026.<\/em><\/p>\n<div style=\"background:#F0F9FF;border-left:4px solid #2E7D32;border-radius:6px;padding:14px 18px;margin:18px 0;\">\n<p style=\"margin:0;color:#1F4E79;font-size:14px;\"><strong>Quick Answer<\/strong><\/p>\n<p style=\"margin:8px 0 0;\">The three hospital, respiratory pharma and device stocks to watch are Fortis Healthcare, Cipla and Poly Medicure. Their return on equity ranges from 10.4% to 11.3%, and their revenue compound annual growth from FY22 to FY26 ranges from 7.1% to 20.0%. Cipla has the highest return on equity at 11.3%, while Poly Medicure has the fastest revenue growth at 20.0% a year. Prices are based on the 26 October 2026 close, and this article is educational, not investment advice.<\/p>\n<\/div>\n<p>Hospital, respiratory pharma and device stocks let investors follow companies that serve a growing part of the Indian economy. Fortis Healthcare, Cipla and Poly Medicure cover a multi-specialty hospital network, a respiratory and anti-infective leader and a single-use medical devices maker.<\/p>\n<p>This list covers three hospital, respiratory pharma and device stocks with complete current figures: Fortis Healthcare, Cipla and Poly Medicure. Every figure comes from the latest reported financials and the 26 October 2026 market close. Companies without complete current figures were left out.<\/p>\n<p style=\"margin-top:24px;\"><strong><a href=\"https:\/\/univest.in\/user\/log-in?utm_source=blogs&#038;utm_medium=hospital-network-operator-respiratory-medicines-leader-and-infusion-and-catheter-devices-maker-stocks-roadmap-paragon-list\">Click Here &#8211; Get Free Investment Predictions<\/a><\/strong><\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_65 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/univest.in\/blogs-2\/hospital-network-operator-respiratory-medicines-leader-and-infusion-and-catheter-devices-maker-stocks-roadmap-paragon-list\/#What_Are_Hospital_Respiratory_Pharma_and_Device_Stocks\" title=\"What Are Hospital, Respiratory Pharma and Device Stocks?\">What Are Hospital, Respiratory Pharma and Device Stocks?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/univest.in\/blogs-2\/hospital-network-operator-respiratory-medicines-leader-and-infusion-and-catheter-devices-maker-stocks-roadmap-paragon-list\/#Hospital_Respiratory_Pharma_and_Device_Stocks_at_a_Glance\" title=\"Hospital, Respiratory Pharma and Device Stocks at a Glance\">Hospital, Respiratory Pharma and Device Stocks at a Glance<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/univest.in\/blogs-2\/hospital-network-operator-respiratory-medicines-leader-and-infusion-and-catheter-devices-maker-stocks-roadmap-paragon-list\/#Why_Do_Hospital_Respiratory_Pharma_and_Device_Stocks_Have_a_Strong_Roadmap_in_India\" title=\"Why Do Hospital, Respiratory Pharma and Device Stocks Have a Strong Roadmap in India?\">Why Do Hospital, Respiratory Pharma and Device Stocks Have a Strong Roadmap in India?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/univest.in\/blogs-2\/hospital-network-operator-respiratory-medicines-leader-and-infusion-and-catheter-devices-maker-stocks-roadmap-paragon-list\/#Why_Fortis_Healthcare_Features_Among_These_Hospital_Respiratory_Pharma_and_Device_Stocks\" title=\"Why Fortis Healthcare Features Among These Hospital, Respiratory Pharma and Device Stocks\">Why Fortis Healthcare Features Among These Hospital, Respiratory Pharma and Device Stocks<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/univest.in\/blogs-2\/hospital-network-operator-respiratory-medicines-leader-and-infusion-and-catheter-devices-maker-stocks-roadmap-paragon-list\/#Why_Cipla_Features_Among_These_Hospital_Respiratory_Pharma_and_Device_Stocks\" title=\"Why Cipla Features Among These Hospital, Respiratory Pharma and Device Stocks\">Why Cipla Features Among These Hospital, Respiratory Pharma and Device Stocks<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/univest.in\/blogs-2\/hospital-network-operator-respiratory-medicines-leader-and-infusion-and-catheter-devices-maker-stocks-roadmap-paragon-list\/#Why_Poly_Medicure_Features_Among_These_Hospital_Respiratory_Pharma_and_Device_Stocks\" title=\"Why Poly Medicure Features Among These Hospital, Respiratory Pharma and Device Stocks\">Why Poly Medicure Features Among These Hospital, Respiratory Pharma and Device Stocks<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/univest.in\/blogs-2\/hospital-network-operator-respiratory-medicines-leader-and-infusion-and-catheter-devices-maker-stocks-roadmap-paragon-list\/#Fortis_Healthcare_vs_Cipla_vs_Poly_Medicure_on_Key_Financials\" title=\"Fortis Healthcare vs Cipla vs Poly Medicure on Key Financials\">Fortis Healthcare vs Cipla vs Poly Medicure on Key Financials<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/univest.in\/blogs-2\/hospital-network-operator-respiratory-medicines-leader-and-infusion-and-catheter-devices-maker-stocks-roadmap-paragon-list\/#Key_Risks_to_Check_Before_Investing_in_Hospital_Respiratory_Pharma_and_Device_Stocks\" title=\"Key Risks to Check Before Investing in Hospital, Respiratory Pharma and Device Stocks\">Key Risks to Check Before Investing in Hospital, Respiratory Pharma and Device Stocks<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/univest.in\/blogs-2\/hospital-network-operator-respiratory-medicines-leader-and-infusion-and-catheter-devices-maker-stocks-roadmap-paragon-list\/#Final_Thoughts_on_Hospital_Respiratory_Pharma_and_Device_Stocks\" title=\"Final Thoughts on Hospital, Respiratory Pharma and Device Stocks\">Final Thoughts on Hospital, Respiratory Pharma and Device Stocks<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/univest.in\/blogs-2\/hospital-network-operator-respiratory-medicines-leader-and-infusion-and-catheter-devices-maker-stocks-roadmap-paragon-list\/#What_are_hospital_respiratory_pharma_and_device_stocks\" title=\"What are hospital, respiratory pharma and device stocks?\">What are hospital, respiratory pharma and device stocks?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/univest.in\/blogs-2\/hospital-network-operator-respiratory-medicines-leader-and-infusion-and-catheter-devices-maker-stocks-roadmap-paragon-list\/#Which_hospital_respiratory_pharma_and_device_stocks_are_covered_in_this_list\" title=\"Which hospital, respiratory pharma and device stocks are covered in this list?\">Which hospital, respiratory pharma and device stocks are covered in this list?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/univest.in\/blogs-2\/hospital-network-operator-respiratory-medicines-leader-and-infusion-and-catheter-devices-maker-stocks-roadmap-paragon-list\/#Why_do_hospital_respiratory_pharma_and_device_stocks_have_a_strong_future_roadmap_in_India\" title=\"Why do hospital, respiratory pharma and device stocks have a strong future roadmap in India?\">Why do hospital, respiratory pharma and device stocks have a strong future roadmap in India?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/univest.in\/blogs-2\/hospital-network-operator-respiratory-medicines-leader-and-infusion-and-catheter-devices-maker-stocks-roadmap-paragon-list\/#How_has_Fortis_Healthcare_performed_financially\" title=\"How has Fortis Healthcare performed financially?\">How has Fortis Healthcare performed financially?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/univest.in\/blogs-2\/hospital-network-operator-respiratory-medicines-leader-and-infusion-and-catheter-devices-maker-stocks-roadmap-paragon-list\/#How_has_Cipla_performed_financially\" title=\"How has Cipla performed financially?\">How has Cipla performed financially?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/univest.in\/blogs-2\/hospital-network-operator-respiratory-medicines-leader-and-infusion-and-catheter-devices-maker-stocks-roadmap-paragon-list\/#How_has_Poly_Medicure_performed_financially\" title=\"How has Poly Medicure performed financially?\">How has Poly Medicure performed financially?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/univest.in\/blogs-2\/hospital-network-operator-respiratory-medicines-leader-and-infusion-and-catheter-devices-maker-stocks-roadmap-paragon-list\/#What_risks_should_investors_check_before_buying_hospital_respiratory_pharma_and_device_stocks\" title=\"What risks should investors check before buying hospital, respiratory pharma and device stocks?\">What risks should investors check before buying hospital, respiratory pharma and device stocks?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-17\" href=\"https:\/\/univest.in\/blogs-2\/hospital-network-operator-respiratory-medicines-leader-and-infusion-and-catheter-devices-maker-stocks-roadmap-paragon-list\/#Is_this_list_of_hospital_respiratory_pharma_and_device_stocks_investment_advice\" title=\"Is this list of hospital, respiratory pharma and device stocks investment advice?\">Is this list of hospital, respiratory pharma and device stocks investment advice?<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"What_Are_Hospital_Respiratory_Pharma_and_Device_Stocks\"><\/span><strong>What Are Hospital, Respiratory Pharma and Device Stocks?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Hospital, respiratory pharma and device stocks are listed healthcare companies that run hospitals, sell medicines and export medical devices. Their earnings depend on patient volumes, prescriptions, device orders and pricing.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Hospital_Respiratory_Pharma_and_Device_Stocks_at_a_Glance\"><\/span><strong>Hospital, Respiratory Pharma and Device Stocks at a Glance<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<div style=\"overflow-x:auto;\">\n<table style=\"border-collapse:collapse;width:100%;\">\n<thead>\n<tr>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">Company<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">CMP (Rs)<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">Market Cap (Rs Cr)<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">P\/E<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">Industry P\/E<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">ROE (%)<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">D\/E<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\"><a href=\"https:\/\/univest.in\/stocks\/fortis\/fortis-healthcare-ltd-share-price-today\">Fortis Healthcare<\/a><\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">734.7<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">55,554<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">51.9<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">59.6<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">10.5<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">0.35<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\"><a href=\"https:\/\/univest.in\/stocks\/cipla\/cipla-ltd-share-price-today\">Cipla<\/a><\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">1,355<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">107,528<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">32.0<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">36.0<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">11.3<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">0.02<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\"><a href=\"https:\/\/univest.in\/stocks\/polymed\/poly-medicure-ltd-share-price-today\">Poly Medicure<\/a><\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">1,443.5<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">15,721<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">50.2<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">59.6<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">10.4<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">0.11<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<p>On valuation, all three trade at a P\/E below their industry P\/E, which means the market is pricing them at a lower multiple than their peer group. Readers comparing hospital, respiratory pharma and device stocks should look at return on equity and debt together, since a high return earned with low debt is easier to sustain.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Why_Do_Hospital_Respiratory_Pharma_and_Device_Stocks_Have_a_Strong_Roadmap_in_India\"><\/span><strong>Why Do Hospital, Respiratory Pharma and Device Stocks Have a Strong Roadmap in India?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Hospital, respiratory pharma and device stocks have a strong roadmap in India because rising insurance cover, wider healthcare access and global demand for devices keep lifting the revenue base.<\/p>\n<ul>\n<li><strong>Hospital beds.<\/strong> New capacity adds patient volumes.<\/li>\n<li><strong>Respiratory care.<\/strong> Chronic therapy brands retain loyal patients.<\/li>\n<li><strong>Device exports.<\/strong> Single-use devices find buyers in many countries.<\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"Why_Fortis_Healthcare_Features_Among_These_Hospital_Respiratory_Pharma_and_Device_Stocks\"><\/span><strong>Why Fortis Healthcare Features Among These Hospital, Respiratory Pharma and Device Stocks<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Among the hospital, respiratory pharma and device stocks on this list, Fortis Healthcare operates a network of multi-specialty hospitals across India, with strengths in cardiac sciences, oncology, neurosciences and orthopaedics, and it also runs a diagnostics business.<\/p>\n<p>In the June 2026 quarter, revenue grew 17.3% year on year to Rs 2,560 crore, while net profit rose 2.3% to Rs 273 crore. Revenue rose from Rs 5,745 crore in FY22 to Rs 9,178 crore in FY26, a compound annual growth rate of 12.4%.<\/p>\n<p>Net profit grew from Rs 790 crore in FY22 to Rs 1,064 crore in FY26, which works out to a compound annual growth rate of 7.7%. The company has a return on equity of 10.5%, a debt to equity ratio of 0.35 and a market capitalisation of Rs 55,554 crore. The stock trades at a P\/E of 51.9, below the industry P\/E of 59.6.<\/p>\n<p><strong>Roadmap:<\/strong> The company is adding beds at existing hospitals and building new capacity in cities where demand for advanced care is rising. Its diagnostics arm and a growing share of complex procedures widen the earnings base beyond routine admissions.<\/p>\n<p><strong>What to watch:<\/strong> Track bed additions, occupancy and revenue per occupied bed.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Why_Cipla_Features_Among_These_Hospital_Respiratory_Pharma_and_Device_Stocks\"><\/span><strong>Why Cipla Features Among These Hospital, Respiratory Pharma and Device Stocks<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Among the private hospital operator shares on this list, Cipla is a Mumbai-based pharmaceutical company with strengths in respiratory medicines, anti-infectives and chronic therapies. It sells branded and generic products in India, South Africa, the United States and other markets.<\/p>\n<p>The company has a return on equity of 11.3%, a debt to equity ratio of 0.02 and a market capitalisation of Rs 107,528 crore. The stock trades at a P\/E of 32.0, below the industry P\/E of 36.0.<\/p>\n<p>Revenue rose from Rs 22,044 crore in FY22 to Rs 29,045 crore in FY26, a compound annual growth rate of 7.1%. Net profit grew from Rs 2,559 crore in FY22 to Rs 3,870 crore in FY26, which works out to a compound annual growth rate of 10.9%. In the June 2026 quarter, revenue grew 1.6% year on year to Rs 7,330 crore.<\/p>\n<p><strong>Roadmap:<\/strong> The company is deepening its position in respiratory and complex generic products while expanding its consumer health and domestic prescription brands. A wide global footprint spreads its earnings across several markets.<\/p>\n<p><strong>What to watch:<\/strong> Follow new product launches in the United States and the growth of key domestic brands.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Why_Poly_Medicure_Features_Among_These_Hospital_Respiratory_Pharma_and_Device_Stocks\"><\/span><strong>Why Poly Medicure Features Among These Hospital, Respiratory Pharma and Device Stocks<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Among the three companies on this list, Poly Medicure makes single-use medical devices such as infusion sets, syringes, catheters, blood management products and dialysis consumables, and it exports to many countries.<\/p>\n<p>Revenue rose from Rs 961 crore in FY22 to Rs 1,995 crore in FY26, a compound annual growth rate of 20.0%. Net profit grew from Rs 147 crore in FY22 to Rs 321 crore in FY26, which works out to a compound annual growth rate of 21.6%.<\/p>\n<p>In the June 2026 quarter, revenue grew 25.5% year on year to Rs 559 crore. The company has a return on equity of 10.4%, a debt to equity ratio of 0.11 and a market capitalisation of Rs 15,721 crore. The stock trades at a P\/E of 50.2, below the industry P\/E of 59.6.<\/p>\n<p><strong>Roadmap:<\/strong> The company is adding capacity and new products, including dialysis and cardiology devices, and it is growing its presence with global hospital customers. Rising healthcare spending supports demand for disposable devices.<\/p>\n<p><strong>What to watch:<\/strong> Track export growth, new product approvals and plant capacity use.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Fortis_Healthcare_vs_Cipla_vs_Poly_Medicure_on_Key_Financials\"><\/span><strong>Fortis Healthcare vs Cipla vs Poly Medicure on Key Financials<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The table below sets the three hospital, respiratory pharma and device stocks side by side on revenue, profit and margin, using reported figures.<\/p>\n<div style=\"overflow-x:auto;\">\n<table style=\"border-collapse:collapse;width:100%;\">\n<thead>\n<tr>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">Company<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">FY22 Revenue (Rs Cr)<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">FY26 Revenue (Rs Cr)<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">Revenue CAGR (FY22-FY26)<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">FY26 Net Profit (Rs Cr)<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">FY26 Net Margin<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">Fortis Healthcare<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">5,745<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">9,178<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">12.4%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">1,064<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">11.6%<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">Cipla<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">22,044<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">29,045<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">7.1%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">3,870<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">13.3%<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">Poly Medicure<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">961<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">1,995<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">20.0%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">321<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">16.1%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<p>Cipla posts the highest return on equity in this group at 11.3%. Cipla has the largest FY26 revenue at Rs 29,045 crore, and Poly Medicure shows the fastest revenue growth with a 20.0% compound annual rate. A useful habit with hospital, respiratory pharma and device stocks is to check each new quarterly result against the capacity plans the company described earlier.<\/p>\n<p>The June 2026 quarter, the latest reported, gives a fresh read on momentum:<\/p>\n<div style=\"overflow-x:auto;\">\n<table style=\"border-collapse:collapse;width:100%;\">\n<thead>\n<tr>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">Company<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">Q1 FY26 Revenue (Rs Cr)<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">Q1 FY27 Revenue (Rs Cr)<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">Year-on-Year Growth<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">Fortis Healthcare<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">2,182<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">2,560<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">17.3%<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">Cipla<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">7,216<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">7,330<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">1.6%<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">Poly Medicure<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">445<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">559<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">25.5%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<h2><span class=\"ez-toc-section\" id=\"Key_Risks_to_Check_Before_Investing_in_Hospital_Respiratory_Pharma_and_Device_Stocks\"><\/span><strong>Key Risks to Check Before Investing in Hospital, Respiratory Pharma and Device Stocks<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Every theme carries risks that deserve a check before any decision. For these hospital, respiratory pharma and device stocks, the main points are: Long-term private hospital operator shares holders usually track revenue growth, margins and cash flow side by side rather than relying on a single ratio.<\/p>\n<ul>\n<li><strong>Capacity timing.<\/strong> New beds take time to mature.<\/li>\n<li><strong>Regulatory checks.<\/strong> Approvals and inspections can affect timelines.<\/li>\n<li><strong>Valuation levels.<\/strong> Some of these companies trade at high earnings multiples, so growth must continue to justify them.<\/li>\n<\/ul>\n<p>Treat this list as a starting point for research and not as a recommendation. Read the latest results presentation, check the management commentary on order books or capacity plans, and compare each company with its peers before you decide anything.<\/p>\n<p style=\"margin-top:24px;\"><strong><a href=\"https:\/\/univest.in\/screeners\">Use the Univest Stock Screener<\/a><\/strong> to filter hospital, respiratory pharma and device stocks by market capitalisation, P\/E, ROE and growth, and build your own shortlist.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Final_Thoughts_on_Hospital_Respiratory_Pharma_and_Device_Stocks\"><\/span><strong>Final Thoughts on Hospital, Respiratory Pharma and Device Stocks<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Hospital, respiratory pharma and device stocks reward investors who follow demand trends, order books and margins together. Fortis Healthcare, Cipla and Poly Medicure each have a clear plan to grow. Based on the 26 October 2026 close, Fortis Healthcare trades at Rs 734.7, Cipla at Rs 1,355 and Poly Medicure at Rs 1,443.5.<\/p>\n<p style=\"margin-top:24px;\"><em>Download the <a href=\"http:\/\/apps.apple.com\/in\/app\/univest-stocks-investment\/id6443753518\" rel=\"nofollow noopener\" target=\"_blank\">Univest iOS App<\/a> or <a href=\"http:\/\/play.google.com\/store\/apps\/details?id=com.univest.capp&#038;hl=en_IN\" rel=\"nofollow noopener\" target=\"_blank\">Univest Android App<\/a> to track hospital, respiratory pharma and device stocks, set price alerts and get research-backed stock ideas.<\/em><\/p>\n<div style=\"background:#CC0000;border-radius:8px;padding:16px 20px;margin:24px 0;\">\n<p style=\"color:#FFFFFF;font-size:13px;line-height:1.7;margin:0;\"><strong style=\"color:#FFFFFF;\">Disclaimer:<\/strong> Data and figures in this article are sourced from publicly available information. These may or may not be accurate. Please verify all data with the official NSE (nseindia.com) and BSE (bseindia.com) websites before making any investment decision. Investments in securities are subject to market risk. This content is for educational purposes only and is not investment advice by Univest (SEBI RA INH000013776).<\/p>\n<\/div>\n<h3><span class=\"ez-toc-section\" id=\"What_are_hospital_respiratory_pharma_and_device_stocks\"><\/span><strong>What are hospital, respiratory pharma and device stocks?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Hospital, respiratory pharma and device stocks are listed healthcare companies that run hospitals, sell medicines and export medical devices. Their earnings depend on patient volumes, prescriptions, device orders and pricing. This list looks at three of them, Fortis Healthcare, Cipla and Poly Medicure, using reported FY22 to FY26 financials and the 26 October 2026 closing prices.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Which_hospital_respiratory_pharma_and_device_stocks_are_covered_in_this_list\"><\/span><strong>Which hospital, respiratory pharma and device stocks are covered in this list?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> This list covers Fortis Healthcare, Cipla and Poly Medicure. Based on the 26 October 2026 close, Fortis Healthcare traded at Rs 734.7, Cipla at Rs 1,355 and Poly Medicure at Rs 1,443.5. Their return on equity ranges from 10.4% to 11.3%, and their revenue compound annual growth from FY22 to FY26 ranges from 7.1% to 20.0%.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Why_do_hospital_respiratory_pharma_and_device_stocks_have_a_strong_future_roadmap_in_India\"><\/span><strong>Why do hospital, respiratory pharma and device stocks have a strong future roadmap in India?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Hospital, respiratory pharma and device stocks have a strong roadmap in India because rising insurance cover, wider healthcare access and global demand for devices keep lifting the revenue base. The main drivers are as follows. Hospital beds. New capacity adds patient volumes. Respiratory care. Chronic therapy brands retain loyal patients. Device exports. Single-use devices find buyers in many countries. Together these factors give the companies on this list a visible path for growth over the coming years.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"How_has_Fortis_Healthcare_performed_financially\"><\/span><strong>How has Fortis Healthcare performed financially?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Revenue rose from Rs 5,745 crore in FY22 to Rs 9,178 crore in FY26, a compound annual growth rate of 12.4%. Net profit grew from Rs 790 crore in FY22 to Rs 1,064 crore in FY26, which works out to a compound annual growth rate of 7.7%. In the June 2026 quarter, revenue grew 17.3% year on year to Rs 2,560 crore, while net profit rose 2.3% to Rs 273 crore. The company has a return on equity of 10.5%, a debt to equity ratio of 0.35 and a market capitalisation of Rs 55,554 crore. The stock trades at a P\/E of 51.9, below the industry P\/E of 59.6. Looking ahead, the company is adding beds at existing hospitals and building new capacity in cities where demand for advanced care is rising. Its diagnostics arm and a growing share of complex procedures widen the earnings base beyond routine admissions.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"How_has_Cipla_performed_financially\"><\/span><strong>How has Cipla performed financially?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Revenue rose from Rs 22,044 crore in FY22 to Rs 29,045 crore in FY26, a compound annual growth rate of 7.1%. Net profit grew from Rs 2,559 crore in FY22 to Rs 3,870 crore in FY26, which works out to a compound annual growth rate of 10.9%. In the June 2026 quarter, revenue grew 1.6% year on year to Rs 7,330 crore. The company has a return on equity of 11.3%, a debt to equity ratio of 0.02 and a market capitalisation of Rs 107,528 crore. The stock trades at a P\/E of 32.0, below the industry P\/E of 36.0. Looking ahead, the company is deepening its position in respiratory and complex generic products while expanding its consumer health and domestic prescription brands. A wide global footprint spreads its earnings across several markets.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"How_has_Poly_Medicure_performed_financially\"><\/span><strong>How has Poly Medicure performed financially?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Revenue rose from Rs 961 crore in FY22 to Rs 1,995 crore in FY26, a compound annual growth rate of 20.0%. Net profit grew from Rs 147 crore in FY22 to Rs 321 crore in FY26, which works out to a compound annual growth rate of 21.6%. In the June 2026 quarter, revenue grew 25.5% year on year to Rs 559 crore. The company has a return on equity of 10.4%, a debt to equity ratio of 0.11 and a market capitalisation of Rs 15,721 crore. The stock trades at a P\/E of 50.2, below the industry P\/E of 59.6. Looking ahead, the company is adding capacity and new products, including dialysis and cardiology devices, and it is growing its presence with global hospital customers. Rising healthcare spending supports demand for disposable devices.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_risks_should_investors_check_before_buying_hospital_respiratory_pharma_and_device_stocks\"><\/span><strong>What risks should investors check before buying hospital, respiratory pharma and device stocks?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Investors should check a few risks before buying hospital, respiratory pharma and device stocks. Capacity timing. New beds take time to mature. Regulatory checks. Approvals and inspections can affect timelines. Valuation levels. Some of these companies trade at high earnings multiples, so growth must continue to justify them. Reading the latest results presentation and comparing each company with its peers helps judge how these risks apply to each stock.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Is_this_list_of_hospital_respiratory_pharma_and_device_stocks_investment_advice\"><\/span><strong>Is this list of hospital, respiratory pharma and device stocks investment advice?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> No. This article is educational and uses publicly available data as of the 26 October 2026 close. Please verify figures on NSE and BSE, read company filings and consult a SEBI registered adviser before investing. Univest is SEBI registered research analyst INH000013776.<\/p>\n<div class=\"faq-schema\"><script type=\"application\/ld+json\">{\"@context\":\"https:\/\/schema.org\",\"@type\":\"FAQPage\",\"mainEntity\":[{\"@type\":\"Question\",\"name\":\"What are hospital, respiratory pharma and device stocks?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Hospital, respiratory pharma and device stocks are listed healthcare companies that run hospitals, sell medicines and export medical devices. Their earnings depend on patient volumes, prescriptions, device orders and pricing. This list looks at three of them, Fortis Healthcare, Cipla and Poly Medicure, using reported FY22 to FY26 financials and the 26 October 2026 closing prices.\"}},{\"@type\":\"Question\",\"name\":\"Which hospital, respiratory pharma and device stocks are covered in this list?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"This list covers Fortis Healthcare, Cipla and Poly Medicure. Based on the 26 October 2026 close, Fortis Healthcare traded at Rs 734.7, Cipla at Rs 1,355 and Poly Medicure at Rs 1,443.5. Their return on equity ranges from 10.4% to 11.3%, and their revenue compound annual growth from FY22 to FY26 ranges from 7.1% to 20.0%.\"}},{\"@type\":\"Question\",\"name\":\"Why do hospital, respiratory pharma and device stocks have a strong future roadmap in India?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Hospital, respiratory pharma and device stocks have a strong roadmap in India because rising insurance cover, wider healthcare access and global demand for devices keep lifting the revenue base. The main drivers are as follows. Hospital beds. New capacity adds patient volumes. Respiratory care. Chronic therapy brands retain loyal patients. Device exports. Single-use devices find buyers in many countries. 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Its diagnostics arm and a growing share of complex procedures widen the earnings base beyond routine admissions.\"}},{\"@type\":\"Question\",\"name\":\"How has Cipla performed financially?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Revenue rose from Rs 22,044 crore in FY22 to Rs 29,045 crore in FY26, a compound annual growth rate of 7.1%. Net profit grew from Rs 2,559 crore in FY22 to Rs 3,870 crore in FY26, which works out to a compound annual growth rate of 10.9%. In the June 2026 quarter, revenue grew 1.6% year on year to Rs 7,330 crore. The company has a return on equity of 11.3%, a debt to equity ratio of 0.02 and a market capitalisation of Rs 107,528 crore. The stock trades at a P\/E of 32.0, below the industry P\/E of 36.0. Looking ahead, the company is deepening its position in respiratory and complex generic products while expanding its consumer health and domestic prescription brands. A wide global footprint spreads its earnings across several markets.\"}},{\"@type\":\"Question\",\"name\":\"How has Poly Medicure performed financially?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Revenue rose from Rs 961 crore in FY22 to Rs 1,995 crore in FY26, a compound annual growth rate of 20.0%. Net profit grew from Rs 147 crore in FY22 to Rs 321 crore in FY26, which works out to a compound annual growth rate of 21.6%. In the June 2026 quarter, revenue grew 25.5% year on year to Rs 559 crore. The company has a return on equity of 10.4%, a debt to equity ratio of 0.11 and a market capitalisation of Rs 15,721 crore. The stock trades at a P\/E of 50.2, below the industry P\/E of 59.6. Looking ahead, the company is adding capacity and new products, including dialysis and cardiology devices, and it is growing its presence with global hospital customers. Rising healthcare spending supports demand for disposable devices.\"}},{\"@type\":\"Question\",\"name\":\"What risks should investors check before buying hospital, respiratory pharma and device stocks?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Investors should check a few risks before buying hospital, respiratory pharma and device stocks. Capacity timing. New beds take time to mature. Regulatory checks. Approvals and inspections can affect timelines. Valuation levels. Some of these companies trade at high earnings multiples, so growth must continue to justify them. Reading the latest results presentation and comparing each company with its peers helps judge how these risks apply to each stock.\"}},{\"@type\":\"Question\",\"name\":\"Is this list of hospital, respiratory pharma and device stocks investment advice?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"No. This article is educational and uses publicly available data as of the 26 October 2026 close. Please verify figures on NSE and BSE, read company filings and consult a SEBI registered adviser before investing. Univest is SEBI registered research analyst INH000013776.\"}}]}<\/script><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Hospital, Respiratory Pharma and Device Stocks with a strong future roadmap: Fortis Healthcare, Cipla and Poly Medicure. Compare price, valuation, return on equity and revenue growth as of 26 October 2026.<\/p>\n","protected":false},"author":38,"featured_media":328323,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[845],"tags":[3803,3792,7543,15948,16774,7537,16773,16772],"class_list":["post-328324","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-best-stocks","tag-best-stocks","tag-cipla","tag-fortis-healthcare","tag-hospital","tag-infusion-set-and-inhaler-maker-stocks","tag-poly-medicure","tag-private-hospital-operator-shares","tag-respiratory-pharma-and-device-stocks"],"metadata":{"rank_math_internal_links_processed":["1"],"_thumbnail_id":["328323"],"rank_math_title":["Hospital, Respiratory Pharma and Medical Device Stocks"],"rank_math_description":["Compare 3 hospital, respiratory pharma and device stocks with a strong future roadmap on CMP, market cap, P\/E, ROE and revenue growth. 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