Sahajanand Medical technologies Limited
RHP · filed 10 Oct 2026
Sahajanand Medical Technologies Limited is a medical device company that manufactures and sells cardiovascular products. The company's financials show a debt-to-equity ratio of 44.74, and it has incurred significant expenses in its efforts to obtain USFDA approval for Supraflex Cruz. The most material risks include the cancellation of a product registration by a Brazilian regulatory agency, the discontinuation of efforts to obtain USFDA approval due to price erosion, and the rejection of product registration files by Taiwanese and Australian regulatory agencies.
Partial analysis — some sections could not be read from the document (found: capitalisation, cover, litigation, objects, price_basis, promoters, related_party, risks).
What stands out
High leverage. Debt-to-equity of 44.74x.
Criminal proceedings disclosed. An information seeking notice dated June 9, 2025, under section 94 of Bharatiya Nagarik Suraksha Sanhita, 2023, was issued to the Company by the office of the Assistant Commissioner of the Police, Delhi, in relation to an ongoing investigation against M/s Boston Ivy Healthcare. A second notice dated
Risk factor. Our subsidiary SMT Brazil had the registration of its product Barty Medical Catheter Introducer Kit cancelled by the National Health Surveillance Agency due to alleged misclassification, and the appeal was ultimately denied, resulting in inventory being withdrawn from the market.
Risk factor. We have discontinued our efforts to obtain USFDA approval for Supraflex Cruz after incurring expenses of ₹38.14 million in Fiscal 2025 and ₹19.84 million in Fiscal 2024, due to price erosion in the US market and substantial investment requirements.
Risk factor. The Taiwanese regulatory agency rejected our file for product registration of Hydra TAVI requesting additional tests, and the Australian regulatory agency rejected our application for product registration of Hydra TAVI requesting additional clinical studies, with no assurance of future approval.
How the offer is structured
- carry out the Offer for Sale of 13,822,116 Equity Shares of face value of ₹ 1 each aggregating up to ₹ [●] million by the Selling Shareholders which constitutes 13.60% of the pre-Offer Equity Share capital of the Company
- achieve the benefits of listing the Equity Shares on the Stock Exchanges
Promoters, litigation & related parties
Promoter (pre)
36.7%
Proceedings
1
An information seeking notice dated June 9, 2025, under section 94 of Bharatiya Nagarik Suraksha Sanhita, 2023, was issued to the Company by the office of the Assistant Commissioner of the Police, Delhi, in relation to an ongoing investigation against M/s Boston Ivy Healthcare. A second notice dated July 1, 2025, was issued directing the Company to submit documents and appear in person before the ACP on July 7, 2025.
Risks the company discloses
Our subsidiary SMT Brazil had the registration of its product Barty Medical Catheter Introducer Kit cancelled by the National Health Surveillance Agency due to alleged misclassification, and the appeal was ultimately denied, resulting in inventory being withdrawn from the market.(Regulatory)
We have discontinued our efforts to obtain USFDA approval for Supraflex Cruz after incurring expenses of ₹38.14 million in Fiscal 2025 and ₹19.84 million in Fiscal 2024, due to price erosion in the US market and substantial investment requirements.(Regulatory)
The Taiwanese regulatory agency rejected our file for product registration of Hydra TAVI requesting additional tests, and the Australian regulatory agency rejected our application for product registration of Hydra TAVI requesting additional clinical studies, with no assurance of future approval.(Regulatory)
We are preparing for a transition from the Medical Device Directive to the EU Medical Device Regulation for products other than Supraflex Cruz, and we are allowed to continue marketing our products in the EU until December 31, 2027, provided no significant changes are made to the product's design or intended use.(Regulatory)
The Drug Controller General of India mandated a post-market surveillance phase IV trial on Hydra (Genesis 2 study), and there is no assurance that such incidents will not occur in the future.(Regulatory)
The global regulatory environment is becoming increasingly stringent and unpredictable, which could increase the time, cost, and complexity of obtaining regulatory approvals for our products, as well as the clinical and regulatory costs of supporting those approvals.(Regulatory)
We are required to obtain specific approvals, consents, and authorizations from relevant authorities, and the process of obtaining marketing approval or clearance for new products, or enhancements or modifications to existing products, could take a significant period of time, require incurring expenditure of substantial resources, and involve rigorous pre-clinical and clinical testing.(Regulatory)
We have not faced any instance of delay in grant of renewal or recertifications impacting our business in the three months period ended June 30, 2026, and in Fiscals 2026, 2025, and 2024, but there is no assurance that such an event will not occur in the future.(Regulatory)
No dimension score is published for this filing. Too few sections could be read from the document to score it without guessing, and a score built on two fields would say more about our extraction than about the company.