Mumbai, June 18: QMS Medical Allied Services Limited integrated healthcare solutions company,today announced its successful migration to the Mainboard of the National Stock Exchange (NSE), marking a significant milestone in the company’s growth journey. QMS was listed on NSE Emerge on October 11, 2022, following its successful SME IPO. With the migration to the mainboard, the company’s 1.93 crore equity shares (face value of Rs. 10 per share) are now tradable on the NSE as of today, 18th June 2026. The company’s stock opened at 108.95.
The migration comes on the back of sustained performance and robust growth across the company’s products and services business. The company clocked consolidated revenues of Rs. 172.9 crore and an EBITDA of Rs. 25.9 crore for FY26. The company is the only listed player with demonstrated presence and market share in the fast-growing preventive healthcare management and pharma marketing segments – positioning it uniquely. The mainboard migration is expected to enhance liquidity, increase participation from institutional and retail investors and further strengthen the company’s visibility within the capital markets ecosystem.
Commenting on the milestone, Mr Mahesh Makhija, Chairman & Managing Director, QMS Medical Allied Services Limited, said,
“Our listing on NSE Mainboard is a defining milestone in QMS’s evolution and reflects the strong foundation we have built over the years. We are grateful to our shareholders, customers, employees, and partners who have been instrumental in our journey. Since our listing on NSE Emerge, we have consistently focused on scaling our operations, upholding strong governance standards, and creating long-term value for all stakeholders.”
“The Indian healthcare sector is witnessing unprecedented transformation and demand for integrated healthcare and pharma marketing solutions, with the focus now shifting from product-focused engagement to patient-focused engagement. Our sustained efforts to deepen and scale our presence across both product and service verticals now give us an edge to thrive in a high-demand, rapidly evolving market with global potential. We are now setting sights on tripling our revenues in the next three years,” he added.
Over the years, QMS has built a robust presence across the healthcare value chain, serving more than 10 lakh patients and partnering with over leading 50 pharmaceutical and healthcare companies across India. The company continues to support improved healthcare access through patient support programs, healthcare services, medical and diagnostic solutions, healthcare staffing, and integrated patient engagement initiatives.
INR 500 crore consolidated revenue target by FY2029
In the past four years, the company has evolved from a Products-led business to an integrated healthcare solutions provider combining products, services, and patient engagement capabilities (focused primarily on medical and diagnostic solutions). QMS has strengthened its product portfolio through the introduction of its own brand, Q-devices, while expanding distribution partnerships and building deeper engagement across healthcare institutions. At the same time, the company has accelerated the growth of its services business to support the pharmaceutical industry’s increasing focus on patient access, improved outcomes, and continuous patient management through integrated healthcare services.As of FY26, the products business accounted for 69% of its total revenues.
Recognising the pharmaceutical industry’s increasing focus on patient access, improved outcomes, and continuous patient management, the company expanded into patient services and healthcare engagement solutions, including patient screening camps.The service vertical was further strengthened the acquisition of a controlling stake in Saarathi Healthcare, a pioneer in patient and disease management, market access, and phygital healthcare solutions. This acquisition significantly enhanced QMS’s capabilities across Patient Service Programs (PSPs) and integrated healthcare services, enabling end-to-end program design, execution, and scale-up.With PSPs continuing to gain traction among pharmaceutical companies in India, QMS expects to double revenues from its services business by FY2027, supported by growing partnerships and a strong order pipeline.
The impact of two growth engines – a reliable and scalable product vertical and a high-growth, future-ready services portfolio – is expected to translate into 3x consolidated revenue growth for QMS by FY29.