QMS Medical Allied Services is an integrated healthcare company that markets, distributes and services medical devices and runs Patient Support Programs (PSP), B2B health camps and an e-commerce platform, combining product distribution including Q-Devices with technology-enabled patient journey services across India.

Financially, the company delivered 9MFY26 revenue of Rs 128.5 crore, up 15% YoY, with EBITDA of Rs 20.1 crore and PAT of Rs 9.9 crore; however Q3FY26 showed sequential moderation with revenue of Rs 37.3 crore and PAT of Rs 3.2 crore, highlighting short-term volatility amid sustained nine‑month growth.

QMS operates a proprietary AWS-hosted, ISO 9001 certified digital health platform that integrates CRM, tele- and field-intervention and AI analytics to manage over one million patients and 350,000+ healthcare professionals, creating a differentiated, scalable technology moat for its PSP and pharma engagement offerings.

Strategically, the company has expanded its services footprint through the Saarathi Healthcare acquisition, scaled the Q-Devices owned brand since 2023, and gained eGrameen portal access to penetrate rural markets—moves that position QMS to convert device distribution into recurring PSP revenues and rural market share.

Balance sheet and cashflow trends show improving profitability and strong multi-year CAGR in revenue and EBITDA, but rising short-term borrowings and working capital swings remain notable; management emphasizes disciplined execution to sustain margin profile while scaling PSPs and device sales.