Avience BiomedicalsShare price, financial results, shareholding and management
- Market cap
- ₹137 cr
- Stock P/E
- 15.7peers 25.3
- Book value
- ₹57.3
- Price to book
- 4.36
- EV / operating profit
- 10.9
- Market cap to sales
- 2.61
- ROCE · FY26
- 26.6%
- ROE · FY26
- 32.4%
- ROE, 3-year average
- 41.2%
- Operating margin · FY26
- 28.4%peers 12.7%
- Sales growth, 3 years
- 68.8%
- Profit growth, 3 years
- 123.9%
- Debt to equity
- 0.92peers 0.10
- Borrowings
- ₹28.9 cr
- Interest cover
- 9.1×
- Cash from business / op. profit
- 40%
- Debtor days
- 146
- Pledged
- 0.00%
- Promoter holding
- 64.59%
- Change in promoter holding
- -
- Shareholders
- 630
- High / low since listing
- ₹415 / ₹222
- Dividend yield
- 0.00%
- Face value
- ₹10
Tap or hover on any figure for what it means. Our arithmetic on reported figures, at the latest close.
Avience Biomedicals share price chart
Close on 6 Nov 2026 · -1.96% on the day · Vol 6,000
Daily prices to 6 Nov 2026, adjusted for splits and bonuses. Closing prices only: check the exchange for the live price.
Share price returns
To the close of 6 Nov 2026
- 1 month
- -13.0%
- 3 months
- +1.6%
- Since IPO
- +20.2%
- Traded a day, 20 days
- ₹0.49 cr
- Taken for delivery
- 74%
Business growth
Sales and net profit, from the reported results
| Sales | Profit | |
|---|---|---|
| FY26 on FY25 | +17% | +23% |
| 3 years, a year | +69% | +124% |
| Latest half, H2 FY26 | +5% | -1% |
About Avience Biomedicals: business, products and customers
Avience Biomedicals makes and trades diagnostic test kits, lab reagents and analysers for hospitals and pathology labs, mostly in Delhi and Uttar Pradesh. Its shares trade on NSE Emerge.
Avience Biomedicals began in 2019 making COVID test kits and viral transport media at a rented unit in Noida, and now makes rapid test cards, reagents and small analysers under 88 product licences. Through its subsidiary DR Meditech Surgical and Diagnostics, set up in 2010 by the Managing Director, it also distributes instruments from global makers and is a channel partner for Mindray in Delhi NCR and eastern Uttar Pradesh. Traded goods made up about 72% of FY26 turnover and own manufactured goods about 27%.
Most large instruments are placed at a hospital or lab under a reagent rental deal: the customer gets the machine and buys the reagents for it from Avience, generally for five years. The company promises to restore a broken machine within four hours, and names Max Healthcare, Sarvodaya Hospital and Dr. Lal PathLabs among its customers.
Read more about the business
The company listed on NSE Emerge on 25 June 2026, raising ₹30.2 cr. The money is going into a new plant on a 2,100 square metre plot in the YEIDA Medical Device Park, Gautam Buddha Nagar, and into working capital. In July 2026 the company said the plant was substantially complete, with manufacturing targeted from October 2026, and that it had an order of about ₹47 cr in hand from Uttarakhand.
From the offer document, the FY26 annual report, the July 2026 earnings call and the August 2026 revised results filing.
Read the deeper study ↓In its favour
- Sales have grown very fast: 69% a year over three years.
- It earns a high return on the money it uses: ROCE 27% in FY26.
- The promoters own a large part of the company: 64.59%.
To watch
- Start of manufacturing at the YEIDA Medical Device Park plant, targeted from October 2026 (Earnings call, July 2026, p.3).
- Delivery and payment of the Uttarakhand order of about ₹47 cr (Earnings call, July 2026, p.3 and p.5).
- Revenue growth against the company's target of at least 60% in FY27 (Earnings call, July 2026, p.4).
- The change of statutory auditor from Haribhakti and Co. LLP to M.A.M and Associates at the September 2026 AGM (Annual report FY26, p.7 and p.8).
- Customers take longer to pay than before: 146 days in FY26, against 91 in FY22.
From the company's documents first, then the reported figures read by fixed rules, the same for every company. Facts, not a view on the shares.
Avience Biomedicals revenue and profit growth
Half-yearly results · Profit and lossSales have grown very fast. Last year profit grew faster than sales, so the company kept more from each rupee of sales.
SME companies report every six months. In the latest half, sales were higher than in the same half a year before. Profit grew more slowly than sales, so each rupee of sales left a little less profit.
Avience Biomedicals half-yearly results
SME companies report every six months · ₹ crore
| H2FY25 | H1FY26 | H2FY26 | |
|---|---|---|---|
| Sales | 24.47 | 26.82 | 25.69 |
| Expenses | 17.86 | 19.57 | 18 |
| Operating profit | 6.61 | 7.25 | 7.68 |
| OPM | 27.0% | 27.0% | 29.9% |
| Interest | 0.69 | 0.65 | 0.89 |
| Depreciation | 0.48 | 0.56 | 0.66 |
| Profit before tax | 5.90 | 6.10 | 6.37 |
| Net profit | 4.27 | 4.54 | 4.21 |
Avience Biomedicals profit and loss
Full years to March, FY22 to FY26 · ₹ crore, consolidated where reported
| FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|
| Sales | 10.15 | 10.92 | 23.83 | 44.92 | 52.51 |
| Expenses | 8.93 | 9.49 | 19.65 | 33.40 | 37.57 |
| Operating profit | 1.22 | 1.43 | 4.18 | 11.52 | 14.94 |
| OPM | 12.0% | 13.1% | 17.5% | 25.6% | 28.4% |
| Other income | 0 | 0.01 | 0.41 | 0.58 | 0.29 |
| Interest | 0.16 | 0.27 | 0.94 | 1.45 | 1.54 |
| Depreciation | 0.09 | 0.20 | 0.62 | 0.88 | 1.22 |
| Profit before tax | 0.97 | 0.97 | 3.03 | 9.77 | 12.47 |
| Tax rate | 25.8% | 19.6% | 28.7% | 27.3% | 29.8% |
| Net profit | 0.72 | 0.78 | 2.16 | 7.10 | 8.75 |
| EPS ₹ | 3.54 | 2.37 | 6.58 | 17.61 | 21.71 |
| Dividend payout | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
Avience Biomedicals profitability
Margins and returns on capitalLast year the company kept more from each rupee of sales than the year before. It earns a high return on the money it uses.
Operating margin, every year
Per cent of sales kept before interest, depreciation and tax
| FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|
| Operating margin | 12.0% | 13.1% | 17.5% | 25.6% | 28.4% |
| Tax rate | 25.8% | 19.6% | 28.7% | 27.3% | 29.8% |
| ROCE | · | 20.6% | 28.3% | 33.9% | 26.6% |
| ROE | · | 22.7% | 42.0% | 49.2% | 32.4% |
| Dividend payout | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
Avience Biomedicals debt and cash flow
Balance sheet · Cash flow · Working capitalThe company's own money, its net worth, has grown fast. Its loans are smaller than its own money. Last year the business brought in less cash than it showed as profit, so part of the profit is still to be collected. It spent more on assets and investments than the business brought in, and raised the rest from loans or shares. Customers take about as long to pay as they did in FY24.
Bars below the line are cash going out.
Avience Biomedicals balance sheet
At each 31 March · ₹ crore
| FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|
| Equity capital | 2.03 | 3.28 | 3.28 | 4.03 | 4.03 |
| Reserves | 0.76 | 0.79 | 2.94 | 18.63 | 27.38 |
| Net worth | 2.79 | 4.07 | 6.22 | 22.66 | 31.41 |
| Borrowings | 2.49 | 2.66 | 15.13 | 22.16 | 28.93 |
| Other liabilities | 0.82 | 3.29 | 13.18 | 11.60 | 17.60 |
| Total liabilities | 6.10 | 10.02 | 34.53 | 56.42 | 77.94 |
| Fixed assets | 1.17 | 2.52 | 10.25 | 13.10 | 16.06 |
| Capital work in progress | 0 | 0 | 0.03 | 4.62 | 12.85 |
| Investments | 0 | 0 | 0.03 | 0.03 | 0.03 |
| Other assets | 4.93 | 7.50 | 24.22 | 38.67 | 49 |
| Receivables | · | · | · | · | 21.02 |
| Inventory | · | · | · | · | 17.18 |
| Cash | · | · | · | · | 2.93 |
| Trade payables | · | · | · | · | 9.47 |
Avience Biomedicals cash flow
₹ crore
| FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|
| Cash from operations | -1.96 | 1.74 | 1.02 | 3.39 | 5.91 |
| Cash from investing | -0.89 | -1.94 | -3.90 | -9.54 | -13.27 |
| Cash from financing | 2.79 | 0.43 | 2.93 | 10.21 | 5.42 |
| Net cash flow | -0.06 | 0.23 | 0.05 | 4.06 | -1.94 |
| Capital spending | · | · | · | · | 13.45 |
Working capital
Days
| FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|
| Debtor days | 91 | 57 | 124 | 140 | 146 |
| Inventory days | 71 | 166 | 290 | 176 | 218 |
| Days payable | 11 | 60 | 130 | 98 | 120 |
| Cash conversion cycle | 151 | 163 | 284 | 218 | 244 |
| Working capital days | 52 | 25 | 29 | 70 | 74 |
Avience Biomedicals peers and competitors
Listed SME companies in the same industryBy sales, Avience Biomedicals is number 11 of the 15 listed SME companies in healthcare equipment & supplies.
Each company's latest full year and its latest close; companies the exchange puts in the same industry, whose businesses can differ a good deal. A list, not a comparison of their shares.
| Company | Market cap ₹ cr | P/E | Sales ₹ cr | Profit ₹ cr | Op. margin | Debt/equity |
|---|---|---|---|---|---|---|
| Mohini Health & Hygiene | 57 | - | 144 | -16.7 | -1.8% | 0.39 |
| Vaidya Sane Ayurved Laboratories | 177 | 19.7 | 107 | 9 | 14.4% | 0.04 |
| Royal Sense | 39 | 5.5 | 103 | 7 | 11.0% | 0.33 |
| Prevest Denpro | 472 | 23.6 | 72 | 20 | 35.0% | 0.00 |
| Aprameya Engineering | 187 | 36.6 | 55.1 | 5.1 | 19.1% | 0.10 |
| Earkart | 172 | 35.0 | 54 | 4.9 | 15.4% | 0.00 |
| Avience Biomedicals | 137 | 15.7 | 52.5 | 8.8 | 28.4% | 0.92 |
| Amkay Products | 58 | 25.3 | 42 | 2.3 | 9.2% | 0.15 |
| Galaxy Medicare | 29 | 8.4 | 40 | 3.4 | 10.6% | 0.10 |
| KMS Medisurgi | 44 | 175.3 | 12.2 | 0.3 | 7.6% | 0.09 |
| Transpact Enterprises | 4 | 45.7 | 0.2 | 0.1 | 66.7% | 0.11 |
| Median of the 10 others | 58 | 25.3 | 54.6 | 4.2 | 12.7% | 0.10 |
Avience Biomedicals shareholding pattern
Promoters, FIIs, DIIs, HNIs and small holdersThe promoters own more than half the company. Foreign and Indian funds own a noticeable share.
Avience Biomedicals shareholding pattern
Per cent of shares, from the patterns filed with the exchange. Tap + to see everyone holding 1% or more in that group. HNIs and small holders show only where the pattern was filed in full.
| Jun 26 | |
|---|---|
| Promoters | 64.59% |
| Foreign investors (FIIs) | 3.06% |
| Indian institutions (DIIs) | 9.08% |
| Number of shareholders | 630 |
The named holders are at 24 June 2026, each under the group the pattern files them in.
Avience Biomedicals study: the business from its own documents
Read from 5 of the company's own documentsAvience Biomedicals so far
From the company's own record
- June 2024Company formed
- 25 June 2026Listed on NSE Emerge at ₹208
- 30 June 2026Promoters at 64.59%
- 14 Sept 2026Highest close since listing, ₹385.35
Avience Biomedicals key facts from the filings
Each figure with the document it comes from
- Order in hand
- About ₹47 cr
- A large order from Uttarakhand, against FY26 revenue of ₹52.5 cr, which also takes the company into a new state.Earnings call, July 2026, p.3 and p.5
- Trading and making
- 72% traded
- Share of FY26 turnover from traded goods; own manufactured goods were about 27% and services the rest.Earnings call, July 2026, p.7
- Reagent rental
- 80% to 85%
- Share of instruments placed at customer sites under reagent deals rather than sold outright, so revenue comes from the reagents used on them.Earnings call, July 2026, p.7
- Product licences
- 88
- Approved products at July 2026, with 17 recently added; the company says it expects about 175 by the end of FY27.Earnings call, July 2026, p.3 and p.5
- New plant cost
- ₹30.2 cr
- Estimated cost of land, building and machinery at the YEIDA Medical Device Park, paid for from IPO money, a SIDBI loan and internal funds.Offer document, p.99 and p.100
Show 5 more facts
- Rapid test capacity
- 45 lakh tests
- Yearly capacity of the Noida unit, which ran at 84.12% in the ten months to January 2026; the new plant is planned for 3.6 crore tests a year.Offer document, p.121
- Top supplier
- 63.00%
- Share of standalone purchases from the single largest supplier in the ten months to January 2026; the top ten made up 82.69%.Offer document, p.228
- Top ten customers
- 46.44%
- Share of standalone revenue in the ten months to January 2026, down from 74.79% in FY23; the largest customer was 13.40%.Offer document, p.227 and p.228
- Exports
- ₹5.2 cr to ₹0.5 cr
- Exports fell from 18.15% of standalone revenue in FY25, mostly to Dubai, to ₹0.5 cr in the ten months to January 2026.Offer document, p.159 and p.228
- Results revised
- ₹3.4 cr
- Inter company balances left in the July 2026 consolidated results; the August 2026 revision removed them, with no change to profit or net worth.Results, August 2026, p.14
What the company said, and what happened
The company's own statements, attributed, set against what it later reported; not newboard's estimates
On its July 2026 earnings call the company said it was targeting revenue growth of at least 60% in FY27 and believed revenue could exceed ₹100 cr in the year, backed by an order of about ₹47 cr. It described a broad aspiration of ₹160 cr to ₹165 cr for FY28 and said the new plant could support peak revenue of about ₹250 cr, depending on product mix. The company expects the plant to run at about 15% to 20% of capacity in FY27, and is targeting exports of ₹5 cr to ₹7 cr in the year.
| What management said | When | What happened |
|---|---|---|
| Commercial production at the new YEIDA plant by the end of October 2026 | Offer document, 2026 | Building substantially complete in July 2026, manufacturing targeted from October 2026 |
| Revenue growth of at least 60% in FY27 | July 2026 call | First half year results not yet reported |
Is it a good business? Six questions
Each answer is about that one question, read from the documents; tap one for the evidence. Not a view on the shares.
Avience Biomedicals earns most of its money by placing lab machines with hospitals and labs and then supplying the reagents those machines use for years, and it has kept a healthy share of each sale as profit.
Its weak spots are a heavy reliance on goods bought from others, one very large supplier, and growth that now leans on a single big government order and a plant that has not started yet.
AverageCan it set its own prices?Labs that take a machine on a reagent deal keep buying its reagents for several years. The company itself says its products are not yet different from what rivals offer.
AverageHow strong is it against rivals?Fast repair service and a regional dealership for a big instrument brand keep it in the game near Delhi. Outside that region it is still small.
AverageWho are its customers?Hospitals, labs and government health bodies, with well known hospital and lab chains among them. Dependence on a few large buyers has fallen.
WatchDoes it need a lot of money?A new plant, machines placed at customers and slow paying government buyers all tie up cash. Borrowing has risen alongside.
AverageCan it keep finding new work?A large state order, new product licences and the new plant open more work. The big order is a single contract.
AverageDo good and bad years swing a lot?Lab tests are needed in every year, so demand is steady. Growth has been uneven, fast for two years and then slower.
Who runs Avience Biomedicals?
Promoters, directors and officers; tap a name for the background
DDDharam Deo ChoudharyPromoter, Chairman and Managing Director · holds 37.17%
Director since the company was formed in December 2019; Managing Director for five years from 1 January 2024. Fellow member of the Institute of Cost Accountants of India, Bachelor of Commerce from DDU Gorakhpur University and CA Intermediate, with 30 years of experience: 14 years in finance and accounts at companies including Uflex, Seal Freight Forwarder and Inertia Industries, then 16 years in diagnostics. Founded DR Meditech Surgical and Diagnostics in 2010. The offer document states that Dharam Deo Choudhary is the spouse of Deepa Choudhary and the brother of Ram Nagina Choudhary and Janardan Pal.
Offer document, p.252, p.255 and p.256RNRam Nagina ChoudharyPromoter and Whole Time Director · holds 11.71%
Director since the company was formed; Whole Time Director for five years from 23 August 2024. Higher secondary education, with over 22 years in daily operations, logistics, supply chain and procurement; a founding member of DR Meditech Surgical and Diagnostics in 2010.
Offer document, p.253 and p.255DCDeepa ChoudharyPromoter and Executive Director · holds 7.99%
Executive Director since 23 August 2024. Bachelor of Arts from Chhatrapati Shahu ji Maharaj University, Kanpur (2008), with five years in business development; promoter and director of Imperative Healthcare Private Limited, a related party customer of the group.
Offer document, p.253, p.255 and p.29JPJanardan PalPromoter and Non Executive Director · holds 7.66%
Director since the company was formed; Non Executive Director from 23 August 2024. Bachelor of Commerce from the University of Delhi (2005), with 13 years in strategic planning and the company's operations.
Offer document, p.254 and p.255OPOm Prakash PalIndependent Director
Independent Director since 29 November 2024 and chair of the audit committee. A practising chartered accountant with more than 16 years in audit, direct tax, finance and consultancy.
Offer document, p.254, p.255 and p.260PSPankaj SharmaIndependent Director
Independent Director since 23 August 2024. Bachelor of Technology in Chemical Engineering from IIT Delhi (1995) and Master of Science in Consultancy Management from BITS Pilani (1999), with over 30 years in business and project management; roles at C2C Technosoft, UOP India and Foster Wheeler Energy.
Offer document, p.255 and p.256Avience Biomedicals latest news and announcements
Announcements · Documents · Corporate actionsWhat changed recently
Each half-year is set against the same half a year earlier
- H2 FY26: sales ₹25.7 cr (+5%), net profit ₹4.2 cr (-1%) on H2 FY25.
Avience Biomedicals announcements
23 on record, latest first; each opens the filing on the exchange
- Analysts/Institutional Investor Meet/Con. Call UpdatesOutcome of Investor ConferencePDF ↗
- Shareholders meetingSrutinizers report of Annual General Meeting held on September 30, 2026. Further, the company has informed the Exchange regarding voting resultsPDF ↗
- Change in AuditorsOf the companyPDF ↗
- Shareholders meetingProceedings of Annual General Meeting held on September 30, 2026PDF ↗
- Trading WindowClosure pursuant to SEBI (Prohibition of Insider Trading) Regulations, 2015PDF ↗
- Analysts/Institutional Investor Meet/Con. Call UpdatesSchedule of meetPDF ↗
- Updates'Intimation of AGM, Book Closure and cutoff date for evtoing'PDF ↗
- Copy of Newspaper Publicationadvertisement of Post dispatch AGM Notice, Copy of Newspaper PublicationPDF ↗
- Updates'The Company has sent Letter to the Shareholder for AGM whose email id is not registered witht the Depository 'PDF ↗
- Shareholders meetingNotice of Annual General Meeting to be held on September 30, 2026PDF ↗
- Updates'Avience Biomedicals Limited has informed the Exchange regarding 'Intimation of Annual General Meeting'PDF ↗
- Copy of Newspaper PublicationCopy of Newspaper PublicationPDF ↗
Avience Biomedicals annual reports, earnings calls and documents
Every document links to its source; “read” marks those this page is built from
Avience Biomedicals share split, bonus and dividends
From the corporate actions the company announces on the exchange
No share split, bonus issue or dividend is on record since listing.
Checks we ran on Avience Biomedicals' data · 9
Before any number shows, it goes through the same checks. A figure that fails is held back, never shown as if it were right.
- iThe shares traded on only 77 days in the past year, so the price, its range and the returns here rest on few trades.
- ✓Balance sheet totals add up for FY25 and FY26.
- ✓Market cap uses the share count in the latest shareholding pattern (54,85,056 shares).
- !The FY26 results imply 40,30,000 shares at face value ₹10, which disagrees with the shareholding pattern; the pattern is used.
- ✓Promoter and public holdings add up to 100% in every shareholding pattern shown.
- ✓The two half-years of FY26 add up to the full-year sales.
- ✓Earnings per share moves in line with profit across the years shown.
- ✓Revenue and profit are reported for every year shown, FY22 to FY26.
- iPrices run to the close on 14 Oct 2026, from the exchange's daily figures.
Questions people ask about Avience Biomedicals
What does Avience Biomedicals do?
Avience Biomedicals makes and trades diagnostic test kits, lab reagents and analysers for hospitals and pathology labs, mostly in Delhi and Uttar Pradesh. Its shares trade on NSE Emerge.
What is the share price of Avience Biomedicals?
₹250 at the close on 6 Nov 2026, from the exchange's daily figures.
What is the market cap of Avience Biomedicals?
₹137 cr at the close on 6 Nov 2026, on 54,85,056 shares.
What is the P/E of Avience Biomedicals?
15.7 times FY26 profit at the close on 6 Nov 2026 (our arithmetic).
What are Avience Biomedicals' revenue and profit?
Revenue ₹53 cr and profit after tax ₹9 cr in FY26.
Who are the promoters of Avience Biomedicals?
Dharam Deo Choudhary, Ram Nagina Choudhary, Deepa Choudhary, Janardan Pal; promoters held 64.59% at 30 June 2026.
What was the IPO price of Avience Biomedicals?
₹208 a share; it listed on 25 June 2026.
What is Avience Biomedicals' website?
www.avienbio.com
More SME companies like Avience Biomedicals
Other listed SME companies in healthcare equipment & supplies, the closest in size first, each read from its own documents.
- Vaidya Sane Ayurved LaboratoriesMADHAVBAUG · NSE Emerge · Healthcare Equipment & Supplies · listed 2022Market cap ₹143 cr
- EarkartEARKART · BSE SME · Healthcare Equipment & SuppliesMarket cap ₹153 cr
- Aprameya EngineeringAPRAMEYA · NSE Emerge · Healthcare Equipment & Supplies · listed 2024Market cap ₹248 cr
- Mohini Health & HygieneMHHL · NSE Emerge · Healthcare Equipment & Supplies · listed 2018Market cap ₹49 cr
- Amkay ProductsAMKAY · BSE SME · Healthcare Equipment & SuppliesMarket cap ₹46 cr
- KMS MedisurgiKMSMEDI · BSE SME · Healthcare Equipment & SuppliesMarket cap ₹44 cr
Every listed SME company in Healthcare Equipment & Supplies → · SME companies listed in 2026 →
Built from 1 offer document, 1 result filing, 1 earnings call transcript, 1 investor presentation, 1 annual report, 23 exchange announcements, 1 shareholding patterns and 5 years of reported results. Every figure carries its source; where the documents are silent, the page says so.