Artemis Medicare Services Limited (ARTEMISMED)

Loading page…

Artemis Medicare Services Limited (ARTEMISMED) · mywealthgrid

About

Artemis Medicare operates hospitals in India with ₹4,982 Cr market value and ₹280 Cr quarterly revenue. Recent operating margins of 17-19% reflect operational efficiency; the company maintains low financial leverage (D/E 0.24). Regular dividend distributions indicate stable cash generation.

Face value: ₹1

Market cap

₹5,325 Cr

P/E

46.9×

P/B

5.7×

Dividend yield

0.3%

ROE

11.7%

ROCE

14.4%

Debt / equity

0.24

OPM

17.4%

EPS (TTM)

₹7.2

Book value

₹59.0

52-week high

—

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

Valuation premium: PE 43.84 relative to 11.69% ROE offers thin safety margin; verify growth runway and margin sustainability to justify valuation

Margin volatility: OPM ranged 16.36%–19.67% across eight recent quarters (Dec 2025–Jun 2026); identify drivers of volatility and verify 18–19% levels are stable

Demand and macro sensitivity: Verify patient revenue mix (elective vs. emergency), insurance penetration, and ability to hold pricing in discretionary healthcare segment

Capex and growth financing: Low leverage (D/E 0.24) suggests minimal expansion capex to date; verify bed capacity, occupancy, and capex needed to sustain growth

Generated analysis · source review pending

Growth drivers

Margin expansion from 16.36% (Dec 2025) to 18.37–19.67% (Jun 2026) via operational efficiency or pricing; verify if sustainable

EPS growth from 1.41 (Dec 2025) to 1.96–1.98 (Jun 2026)—a 39% increase in six months; verify if margin-driven or volume-based

Low leverage (D/E 0.24) enables debt-financed capacity expansion; verify capex plans, bed targets, and expected returns on new facility investments

Stable cash generation: ₹30 Cr+ quarterly net profit on ₹280 Cr revenue base; verify allocation between growth reinvestment and shareholder returns

Generated analysis · source review pending

1,650 historical price candles were omitted because the exchange source has not been verified.

₹336.4-8.2%1Y

Quick read

rule-based

Pros

+Profit CAGR of 75.9% over the last 5 years
+Revenue CAGR of 21.5% over the last 5 years

Cons

−Promoter holding fell 8.1 pts over the last year

Research score

Structured signal from quality, growth, valuation and momentum.

51/100

Business quality: 45
Growth: 78
Valuation: 30

Revenue & net profit

₹ crore, by fiscal year

RevenuePAT

Margins

% of revenue, by fiscal year

OPMPAT margin

Peers

Comparable companies from the narrowest available industry classification.

Screen this industry Compare top 5 side-by-side

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
Max Healthcare Institute LimitedMAXHEALTHMAXHEALTH	₹91,573 Cr	₹95,052 Cr	₹8,712 Cr	₹2,318 Cr	26.8%	₹1,457 Cr	17.2%	13.8%	14.3%	-110
Manipal Health Enterprises LimitedMANIPALHOSMANIPALHOS	₹91,552 Cr	₹1,02,105 Cr	₹10,336 Cr	₹2,611 Cr	25.3%	₹917 Cr	8.9%	12.5%	12.8%	38
Fortis Healthcare LimitedFORTISFORTIS	₹59,268 Cr	₹62,140 Cr	₹9,506 Cr	₹2,131 Cr	22.8%	₹1,048 Cr	11.7%	13%	11.1%	-99
Aster Dm Healthcare LimitedASTERDMASTERDM	₹36,728 Cr	₹37,429 Cr	₹4,876 Cr	₹958 Cr	19.4%	₹319 Cr	9.2%	11.9%	9.7%	-112
Global Health LimitedMEDANTAMEDANTA	₹36,498 Cr	₹37,688 Cr	₹4,683 Cr	₹979 Cr	20.8%	₹556 Cr	12.6%	16.9%	15.1%	-26
Narayana Hrudayalaya Ltd.NHNH	₹35,594 Cr	₹40,460 Cr	₹9,072 Cr	₹1,749 Cr	20.5%	₹816 Cr	10.2%	15.1%	19.7%	-181
Krishna Institute Of Medical Sciences LimitedKIMSKIMS	₹29,457 Cr	₹32,701 Cr	₹4,213 Cr	₹833 Cr	20.5%	₹205 Cr	6.2%	9.5%	11%	-50
Dr. Agarwal's Health Care LimitedAGARWALEYEAGARWALEYE	₹15,420 Cr	₹15,578 Cr	₹2,207 Cr	₹612 Cr	27.4%	₹148 Cr	8.1%	10.1%	6.8%	-76
Rainbow Childrens Medicare LimitedRAINBOWRAINBOW	₹13,003 Cr	₹13,003 Cr	₹1,820 Cr	₹575 Cr	32%	₹285 Cr	16.5%	18.2%	17.9%	-73
Park Medi World LimitedPARKHOSPSPARKHOSPS	₹11,696 Cr	₹11,924 Cr	₹1,679 Cr	₹444 Cr	26.5%	₹258 Cr	16.3%	21.4%	16.7%	-2
Healthcare Global Enterprises LimitedHCGHCG	₹9,984 Cr	₹10,895 Cr	₹2,627 Cr	₹480 Cr	18.3%	₹23 Cr	0.9%	9.1%	1.2%	-93
Yatharth Hospital & Trauma Care Services LimitedYATHARTHYATHARTH	₹9,965 Cr	₹10,218 Cr	₹1,334 Cr	₹310 Cr	24.2%	₹174 Cr	14.1%	12.3%	10%	-26

Loading peers…

Financials

Reported profit and loss, balance sheet, cash flow and growth history.

Annual Quarterly

Consolidated Standalone

Consolidated figures · ₹ crore

₹ Cr	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	565	408	555	737	879	937	1,081
COGS	139	116	342	195	219	227	254
Gross profit	426	292	213	543	660	709	827
	365	257	146	449	527	558	639
	61	35	67	94	133	152	188
OPM %	10.9%	8.6%	12.2%	12.7%	15.1%	16.2%	17.4%
Depreciation	23	22	22	31	40	45	48
Interest	13	13	12	20	31	32	28
	5	7	4	7	7	33	27
Profit before tax	31	8	37	51	68	108	139
Tax	11	1	6	13	19	25	35
Tax %	36.5%	18.2%	15.6%	24.9%	28.2%	23.7%	25.5%
	19	6	31	38	49	82	104
PAT margin %	3.4%	1.5%	5.7%	5.2%	5.6%	8.8%	9.6%
EPS (₹)	15	4.9	2.4	2.9	3.6	5.4	6.6
EPS adjusted (₹)	—	0.5	2.4	2.7	3.6	6	6.6
	0%	0%	0%	15.6%	12.4%	8.4%	6.9%
Annual report	Annual report for Mar 2020	Annual report for Mar 2021	Annual report for Mar 2022	Annual report for Mar 2023	Annual report for Mar 2024	Annual report for Mar 2025	Annual report for Mar 2026

₹ Cr	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	13	13	13	14	14	16
Reserves	307	346	390	435	824	919
Minority interest	2	2	5	6	6	6
	127	184	242	254	246	227
	151	165	256	263	268	261
Total equity & liabilities	600	710	905	972	1,357	1,429
	383	489	605	719	745	804
CWIP	81	62	95	33	39	28
Investments	0	0	0	0	0	0
	136	159	205	219	574	597
Total assets	600	710	905	972	1,357	1,429

Loading financials…

Ratios

Annual operating, return, leverage and working-capital ratios.

Consolidated Standalone

Consolidated figures

Ratio	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	75.4%	71.5%	38.4%	73.6%	75.1%	75.7%	76.5%
EBITDA margin %	10.9%	8.6%	12.2%	12.7%	15.1%	16.2%	17.4%
EBIT margin %	6.9%	3.4%	8.2%	8.5%	10.5%	11.4%	13%
PAT margin %	3.4%	1.5%	5.7%	5.2%	5.6%	8.8%	9.6%
Working capital
Receivable days	—	49	48	46	39	39	40
Inventory days	—	30	13	26	17	16	19
Payable days	—	179	64	165	158	162	142
NWC days	—	-100	-3	-93	-102	-107	-82
Leverage
Current ratio	—	0.92	0.92	0.83	0.98	2.49	1.74
Debt to EBITDA	—	3.62	2.72	2.57	1.91	1.62	1.21
Debt to equity	—	0.4	0.51	0.6	0.57	0.29	0.24
Interest coverage	3.4	1.3	4.1	3.6	3.2	4.4	6.1
Asset turnover	—	0.68	0.78	0.81	0.9	0.69	0.76
Return ratios
Return on assets %	—	1%	4.4%	4.2%	5.1%	6.1%	7.3%
Return on capital employed %	—	3.6%	9.3%	11.1%	13.4%	14.5%	14.4%
Return on equity %	—	1.9%	8.7%	9.4%	11%	9.8%	11.1%

Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Day counts average the opening and closing balance; receivables turn on revenue, inventory and payables on cost of goods sold.

Loading ratios…

Shareholding

Quarterly ownership, named holders, insider transactions and disclosed deals.

Quarterly Annual

Every quarter filed · % of equity

Holder (%)	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	68.03%	68.03%	68.03%	67.51%	67.17%	67.17%	67.17%	66.53%	66.53%	58.39%	58.39%	58.39%
	0.09%	0.11%	0.1%	0.16%	0.22%	0.64%	0.31%	0.24%	0.37%	12.47%	12.19%	12.29%
	1.52%	1.96%	2.61%	3.45%	3.6%	4.5%	5.04%	4.76%	4.27%	2.91%	2.89%	2.4%
	0%	0%	0%	0%	0%	0%	0%	0%	7.02%	6.16%	6.16%	6.16%
	30.36%	29.9%	29.26%	28.88%	29.01%	27.69%	27.48%	28.47%	21.81%	20.07%	20.37%	20.76%
No. of shareholders	—	—	—	—	—	—	—	—	33,559	31,602	32,044	36,335

Promoter holding down 9.64 percentage points since Sep 2023.

2 deals · 25 Sept 2026 – 25 Sept 2026

Date	Client	Type	Venue	Side	Quantity	Price	Value
25 Sept 2026	MICROCURVES TRADING PRIVATE LIMITED	Bulk	NSE	Sell	10,04,061	₹366.15	₹36.76 Cr
25 Sept 2026	MICROCURVES TRADING PRIVATE LIMITED	Bulk	NSE	Buy	10,04,061	₹365.80	₹36.73 Cr

1–2 of 2

1 / 1

Bulk deals are a client trading over 0.5% of the equity in a session, aggregated across their trades; block deals are single negotiated trades in the exchange’s block window. Each is reported by the exchange it was crossed on, so NSE and BSE rows are separate trades rather than the same trade twice.

Mr. Onkar KanwarNon-Executive - Non Independent Director-Chairperson related to Promoter
Ms. Shalini Kanwar ChandNon-Executive - Non Independent Director
Mr. Neeraj Singh KanwarNon-Executive - Non Independent Director
Mr. Sanjib SenNon-Executive - Independent Director
Ms. Devlina ChakravartyExecutive Director-MD
Mr. Akshaykumar Narendrasinhji ChudasamaNon-Executive - Independent Director
Ms. Pallavi Shardul ShroffNon-Executive - Independent Director
Mr. Vinod RaiNon-Executive - Independent Director
Mr. Sunam SarkarNon-Executive - Non Independent Director
Mr. Tapan MitraNon-Executive - Independent Director
Ms. Poonam MakkarCompany Secretary & Compliance Officer

Loading shareholding…

F&O

Current futures and options contracts with compact option-chain pages.

Not in the F&O segment

Only about 210 stocks have listed futures and options. Contracts appear here for those, refreshed after each close.

Loading f&o…

Fund holders

Mutual-fund schemes that disclosed a holding in the company.

Portfolio month

Schemes holding

across 3 fund houses

Held by these funds

0.08%

of the company's equity

All mutual funds

1.3%

shareholding pattern, Jun 2026

Portfolios as of

August 2026

compared with July 2026

4 schemes · 3 fund houses

		Shares
MF HEALTHCARE FUND	LIC Mutual Fund	93,529	2.97	2.88%	0.059%	-0
IB63-Groww BSE Hospitals ETF	Groww Mutual Fund	32,856	1.04	0.66%	0.021%	+6,621
(Investment Manager for Motilal Oswal Mutual Fund)	Motilal Oswal Mutual Fund	1,346	0.04	0.1%	0.001%	+2
(Investment Manager for Motilal Oswal Mutual Fund)	Motilal Oswal Mutual Fund	146	0	0.01%	0%	+1

Loading fund holders…

Documents

Annual reports, exchange filings, offer documents, ratings and earnings-call material.

Announcements

Loading documents…

Events

Upcoming dates and the company’s corporate-action history.

4

Final dividend10 Jul 2026 · ex-date₹0.45
Final dividend11 Jul 2025 · ex-date₹0.45
Final dividend5 Jul 2024 · ex-date₹0.45
Dividend dividend14 Jul 2023 · ex-date₹0.45

1

Board meeting to consider results3 Aug 2026

1

Face value ₹10 → ₹123 Sept 2021 · ex-date

1–3 of 4

1 / 2

Loading events…

Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

31 announcementsExport CSV

29 Sept 2026, 7:50 pmCompany Update

Disclosure Under Regulation 30 Of The SEBI (Listing Obligations And Disclosure Requirements) Regulations, 2015

General PDF

Loading announcements…

Ratio	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	75.4%	71.5%	38.4%	73.6%	75.1%	75.7%	76.5%
EBITDA margin %	10.9%	8.6%	12.2%	12.7%	15.1%	16.2%	17.4%
EBIT margin %	6.9%	3.4%	8.2%	8.5%	10.5%	11.4%	13%
PAT margin %	3.4%	1.5%	5.7%	5.2%	5.6%	8.8%	9.6%
Working capital
Receivable days	—	49	48	46	39	39	40
Inventory days	—	30	13	26	17	16	19
Payable days	—	179	64	165	158	162	142
NWC days	—	-100	-3	-93	-102	-107	-82
Leverage
Current ratio	—	0.92	0.92	0.83	0.98	2.49	1.74
Debt to EBITDA	—	3.62	2.72	2.57	1.91	1.62	1.21
Debt to equity	—	0.4	0.51	0.6	0.57	0.29	0.24
Interest coverage	3.4	1.3	4.1	3.6	3.2	4.4	6.1
Asset turnover	—	0.68	0.78	0.81	0.9	0.69	0.76
Return ratios
Return on assets %	—	1%	4.4%	4.2%	5.1%	6.1%	7.3%
Return on capital employed %	—	3.6%	9.3%	11.1%	13.4%	14.5%	14.4%
Return on equity %	—	1.9%	8.7%	9.4%	11%	9.8%	11.1%

Date	Category	Subject	Filing
29 Sept 2026, 7:50 pm	Company Update General	Disclosure Under Regulation 30 Of The SEBI (Listing Obligations And Disclosure Requirements) Regulations, 2015	PDF
29 Sept 2026, 6:28 pm	Company Update General	Disclosure Under Regulation 30 Of The SEBI (Listing Obligations And Disclosure Requirements) Regulations, 2015	PDF
28 Sept 2026, 1:32 pm	Insider Trading / SAST Closure of Trading Window	Closure of Trading Window	PDF
15 Sept 2026, 2:54 pm	Company Update Newspaper Publication	Announcement under Regulation 30 (LODR)-Newspaper Publication	PDF
8 Sept 2026, 12:00 pm	Company Update Analyst / Investor Meet	Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation	PDF
27 Aug 2026, 4:10 pm	Company Update Analyst / Investor Meet	Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation	PDF
10 Aug 2026, 1:43 pm	Company Update Earnings Call Transcript	Announcement under Regulation 30 (LODR)-Earnings Call Transcript	PDF
10 Aug 2026, 11:49 am	Company Update Analyst / Investor Meet	Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation	PDF

₹ Cr	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	40	56	27	60	127	109	146	132
	-50	-26	-37	-107	-158	-87	-385	-90
	14	-27	18	44	38	-30	267	-50
Net cash flow	5	2	8	-3	7	-8	27	-8
Free cash flow	-17	30	-7	-49	-19	36	52	27
CFO / Operating profit %	—	91.3%	77.4%	88.3%	135.4%	82%	95.9%	70.1%

Artemis Medicare Services Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Ratios

Shareholding

F&O

Not in the F&O segment

Fund holders

Documents

Announcements

Events

4

1

1

Announcements

Not in the F&O segment

4

1

1

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

Compounded sales growth

Compounded profit growth

Return on equity

Artemis Medicare Services Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Ratios

Ratio timeline

Shareholding

Quarterly record

Bulk & block deals

Board and management

F&O

Not in the F&O segment

Fund holders

Documents

Announcements

Events

Dividends4

Board meetings1

Stock splits1

Announcements

Ratio timeline

Not in the F&O segment

Dividends4

Board meetings1

Stock splits1

Quarterly record

Bulk & block deals

Board and management

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

Profit & loss

Balance sheet

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

4

1

1

4

1

1