Anand Rathi, Sahajanand Medical Technologies Ltd
Sahajanand Medical Technologies Limited is an innovation-driven medical devices company focused on the development, manufacturing and commercialization of advanced cardiovascular devices. The company operates across two key segments, Vascular Intervention (VI) and Structural Heart (SH), offering products such as drug-eluting stents, balloon catheters, transcatheter aortic valve implantation (TAVI) systems and occluders. Founded in 2001, the company has established itself as one of India's leading cardiovascular device manufacturers with a strong presence across 77 countries and a market-leading position in the domestic drug-eluting stent market. The company is a research and development-focused organization with dedicated R&D facilities in India and Thailand supported by a team of highly qualified professionals. Its innovation-driven approach has enabled it to build a strong intellectual property portfolio comprising 119 granted patents globally and several products backed by extensive clinical studies. According to the Frost & Sullivan Report, the company was the first in the world to receive CE certification for a biodegradable polymer-based paclitaxel-eluting stent and has continued to introduce technologically advanced cardiovascular solutions that meet global regulatory standards.
At the upper price band, the company is valued at 50.6x FY26 P/E and 21.6x FY26 EV/EBITDA, implying a post-issue market capitalization of approximately ₹34,996 million. Considering its leadership position in cardiovascular medical devices, growing international presence, strong innovation capabilities and favorable industry tailwinds, we recommend a"Subscribe - Long Term"rating for the issue.
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Sahajanand Medical Technologies -141026 - anand
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