May 2026
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Largest Medical Devices Public Companies in India
Benchmark revenue and EBITDA valuation multiples for public comps like
Zydus Lifesciences, Abbott India, Poly Medicure, SS Innovations and Laxmi Dental.
 | Zydus Lifesciences Ltd is a specialty and generic drug manufacturing company. It is engaged in the research, development, production, marketing, and distribution of pharmaceutical products. The product portfolio of the company includes Active Pharmaceutical Ingredients (API), human formulations, animal health and veterinary, and consumer health and wellness products. Its products are marketed under brands like Amlodac, Inditel, Pivasta, and others. The company's operating segments are: Pharmaceuticals, which derives key revenue, and Consumer products. Geographically, it generates maximum revenue from the United States, followed by India, and other countries. | $11 | +5% | $11B | $12B | 4.2x | 13.4x | ||
| Abbott India Ltd is a drug manufacturing company that offers products in diagnostics, medical devices, nutritionals, and branded generic pharmaceuticals. Its patient focus centers overwhelmingly on women's health and gastrointestine, gastroenterology, and hepatic care. Geographically, the majority of the company's revenue is generated in India. | $275 | -29% | $6B | $6B | 7.7x | 24.6x | ||
| Poly Medicure Ltd engages in the manufacturing and sale of medical devices. It offers disposable medical devices for infusion therapy, blood management, gastroenterology, vascular access, surgery and wound drainage, anesthesia, and urology. Some of its products include Ventilator Circuit Combo Kits, Bain Circuits, Safety Introducer Needles, High-Pressure Vaccum Bottle-Triplet, Catheters, and others. Geographically, it derives a majority of its revenue from exports. The company operates under one segment namely Medical Devices. | $14 | -42% | $1B | $1B | 6.8x | 22.9x | ||
| SS Innovations International Inc is a commercial-stage surgical robotics company focused on transforming patient lives by democratizing access to advanced surgical robotics technologies. The company designs, manufactures, and markets an advanced, next-generation, and affordable surgical robotic system called the SSi Mantra, and the instruments and accessories used with SSi Mantra to perform a wide range of soft-tissue, robotically assisted surgeries. The company earns the majority of its revenue from India. | $4 | -32% | $803M | $800M | 18.8x | (133.9x) | ||
| Laxmi Dental Ltd is an end-to-end integrated dental products company. Its products include custom-made crowns and bridges, branded dental products such as clear aligners, thermoforming sheets, and aligner-related products as a part of aligner solutions, and paediatric dental products. The Group has three reportable segments: Laboratory Business segment comprises dental prostheses, such as metal-free crowns & bridges, Porcelain Fused to Metal (PFM) Crowns and Bridges, and Dentures. The Aligners Business segment comprises dental aligners, Retainers, Raw Materials for Aligners, Sport Guards, Night Guards, and Sleep Apnea Devices. The Other Business segment comprises Dental distribution products used in Dental Laboratory, Dental Clinical Services, and Dental Educational Courses. | $2 | -47% | $136M | $127M | 4.4x | 26.2x | ||
| Median | $11 | -32% | $1B | $1B | 6.8x | 22.9x |
Financial data powered by FactSet and Morningstar. Valuation multiples as of current fiscal year. For more data, start your free trial here.
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