Manipal Health Enterprises Limited (MANIPALHOS)

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Manipal Health Enterprises Limited (MANIPALHOS) · mywealthgrid

About

Manipal Health Enterprises Limited operates hospital services within India's healthcare sector, supported by a market capitalisation of ₹92,992.2 crore. Operating profit margin of 25.26% indicates strong operational efficiency in hospital delivery.

Face value: ₹2

Market cap

₹91,552 Cr

P/E

99.9×

P/B

9.7×

Dividend yield

ROE

12.8%

ROCE

12.5%

Debt / equity

1.25

OPM

25.3%

EPS (TTM)

₹7.8

Book value

₹71.4

52-week high

—

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

Valuation risk: PE of 101.46 is exceptionally high; verify earnings growth trajectory and profitability trends to justify the multiple
Leverage at D/E 1.25 exposes the company to interest-cost pressure if rates rise or operating margins compress
Low public float of 18.81% may constrain liquidity for large institutional trades; verify bid-ask spreads and trading volumes
Hospital services face sector-typical pressures: regulatory changes in healthcare policy, competitive intensity from other chains, and patient volume sensitivity to economic cycles

Generated analysis · source review pending

Growth drivers

Operating margin of 25.26% provides cushion to absorb inflation while scaling volumes; verify recent revenue and volume trends
ROE of 12.84% demonstrates capacity to reinvest earnings; assess if earnings growth can sustain the high PE of 101.46
Healthcare spending typically grows with rising per-capita income and demographics in India; verify this company's market penetration in high-growth regions and any announced capacity expansion

Generated analysis · source review pending

38 historical price candles were omitted because the exchange source has not been verified.

₹696.0-6.9%1Y

Quick read

rule-based

Pros

+Healthy operating margin of 25.3%
+Profit CAGR of 29.5% over the last 3 years
+Revenue CAGR of 28.8% over the last 3 years
+High promoter holding of 72.1% with no pledge

Cons

−Expensive at 99.9× trailing earnings
−Trading at 9.7× book value

Research score

Structured signal from quality, growth, valuation and momentum.

46/100

Business quality: 34
Growth: 99
Valuation

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

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Financials

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

Annual Quarterly

Consolidated figures · ₹ crore

₹ Cr	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	4,840	6,172	8,242	10,336
COGS	14	-23	-8	-21
	3,553	4,512	6,123	7,745
Operating profit (EBITDA)	1,272	1,683	2,127	2,611
OPM %	26.3%	27.3%	25.8%	25.3%
Depreciation	328	397	507	680
Interest	330	455	512	864
	-15	-86	134	111
Profit before tax	571	745	1,242	1,178
Tax	157	212	161	262
Tax %	27.4%	28.4%	12.9%	22.2%
	414	533	1,082	917
PAT margin %	8.6%	8.6%	13.1%	8.9%
EPS (₹)	3.8	5.3	9.3	7.7

₹ Cr	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	76	76	77	236
Reserves	3,205	3,940	5,770	8,190
Minority interest	234	72	153	373
	2,150	3,944	4,767	10,553
	2,273	2,787	3,305	5,512
Total equity & liabilities	7,937	10,819	14,072	24,865
	4,935	6,934	8,126	16,368
CWIP	40	42	614	795
Investments	1,038	1,121	1,776	2,675
	1,924	2,722	3,556	5,026
Total assets	7,937	10,819	14,072	24,865

₹ Cr	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	1,152	1,389	1,570	2,078
Cash from investing	-995	-871	-2,658	-7,037
Cash from financing	-145	-250	904	4,954
Net cash flow	12	268	-184	-4
Free cash flow	—	—	—	—
CFO / Operating profit %	90.6%	82.5%	73.8%	79.6%

Compounded sales growth

7 years: —
5 years: —
3 years: 29%
1 year: 25%

Compounded profit growth

7 years: —
5 years: —
3 years: 30%
1 year: -15%

Return on equity

7 years: —
5 years: —
3 years: 14%
Last year: 10%

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Ratios

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

Consolidated figures

Ratio	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	—	—	—	—
EBITDA margin %	26.3%	27.3%	25.8%	25.3%
EBIT margin %	19.5%	20.8%	19.7%	18.7%
PAT margin %	8.6%	8.6%	13.1%	8.9%
Working capital
Receivable days	24	27	28	33
Inventory days	7	8	8	8
Payable days	—	2	2	3
NWC days	—	33	34	38
Leverage
Current ratio	1.31	1.24	1.59	1.22
Debt to EBITDA	1.69	2.34	2.24	4.04
Debt to equity	0.66	0.98	0.82	1.25
Interest coverage	3.1	3	3.4	2.4
Asset turnover	0.61	0.57	0.59	0.42
Return ratios
Return on assets %	5.2%	4.9%	7.7%	3.7%
Return on capital employed %	15.4%	17.4%	16.2%	12.5%
Return on equity %	12.6%	13.3%	18.5%	10.9%

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.

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Shareholding

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

Quarterly Annual

Every quarter filed · % of equity

Holder (%)	Jun 2026
	72.08%
	3.65%
	5.2%
	0.26%
	18.81%
No. of shareholders	3,38,074

Promoter holding up 0 percentage points since Jun 2026.

Dr. Hebri Sudarshan BallalDirector
Mr. Dilip Jose PuthiyidathuDirector
Dr. Ranjan Ramdas PaiDirector
Mr. Ravi LambahDirector
Mr. Ved KalanoriaDirector
Mr. Puneet BhatiaDirector
Mr. Vinesh Kumar JairathDirector
Mr. Subramaniam SomasundaramDirector
Ms. Revathy AshokDirector
Sathish Kolar RamamoorthyCompany Secretary & Compliance Officer

Current officeholders as filed with BSE. A person holding two offices is listed once per office.

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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.

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Fund holders

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

Portfolio month

Schemes holding

across 8 fund houses

Held by these funds

1.31%

of the company's equity

All mutual funds

3.53%

shareholding pattern, Jun 2026

Portfolios as of

August 2026

compared with July 2026

20 schemes · 8 fund houses

		Shares
Portfolio of Kotak Flexi Cap FundNEW	Kotak Mahindra Mutual Fund	33.98 L	259.21	0.46%	0.258%	—
Portfolio of Kotak Mid Cap FundNEW	Kotak Mahindra Mutual Fund	25.07 L	191.26	0.27%	0.191%	—
Healthcare Fund	DSP Mutual Fund	18.59 L	141.84	3.7%	0.141%	-0
(Investment Manager for Motilal Oswal Mutual Fund)	Motilal Oswal Mutual Fund	17.35 L	132.34	2.83%	0.132%	+6.1 L
Portfolio of Kotak Large Cap Fund	Kotak Mahindra Mutual Fund	9.31 L	71.03	0.65%	0.071%	-0
Large & Mid Cap Fund	Axis Mutual Fund	8.47 L	64.65	0.37%	0.064%	-0
Healthcare FundNEW	ICICI Prudential Mutual Fund	8.47 L	64.57	0.92%	0.064%	—
Innovation Fund	ICICI Prudential Mutual Fund	8.47 L	64.57	0.81%	0.064%	-0

1–8 of 20

1 / 3

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Documents

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

Announcements

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Events

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

1

Board meeting to consider results20 Aug 2026

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Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

31 announcementsExport CSV

1 Oct 2026, 10:27 pmAGM/EGM

Shareholder Meeting / Postal Ballot-Scrutinizer''s Report

AGM PDF

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Ratio	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	—	—	—	—
EBITDA margin %	26.3%	27.3%	25.8%	25.3%
EBIT margin %	19.5%	20.8%	19.7%	18.7%
PAT margin %	8.6%	8.6%	13.1%	8.9%
Working capital
Receivable days	24	27	28	33
Inventory days	7	8	8	8
Payable days	—	2	2	3
NWC days	—	33	34	38
Leverage
Current ratio	1.31	1.24	1.59	1.22
Debt to EBITDA	1.69	2.34	2.24	4.04
Debt to equity	0.66	0.98	0.82	1.25
Interest coverage	3.1	3	3.4	2.4
Asset turnover	0.61	0.57	0.59	0.42
Return ratios
Return on assets %	5.2%	4.9%	7.7%	3.7%
Return on capital employed %	15.4%	17.4%	16.2%	12.5%
Return on equity %	12.6%	13.3%	18.5%	10.9%

Date	Category	Subject	Filing
1 Oct 2026, 10:27 pm	AGM/EGM AGM	Shareholder Meeting / Postal Ballot-Scrutinizer''s Report	PDF
29 Sept 2026, 5:26 pm	Company Update General	Summary Of AGM Proceedings	PDF
29 Sept 2026, 5:16 pm	AGM/EGM AGM	Shareholder Meeting / Postal Ballot-Outcome of AGM	PDF
28 Sept 2026, 4:44 pm	Insider Trading / SAST Closure of Trading Window	Closure of Trading Window	PDF
18 Sept 2026, 8:00 pm	Company Update Press Release / Media Release	Announcement under Regulation 30 (LODR)-Press Release / Media Release	PDF
16 Sept 2026, 7:36 pm	Company Update General	Intimation Under Regulation 30 Of The SEBI (Listing Obligations And Disclosure Requirements) Regulations, 2015 ('SEBI Listing Regulations')	PDF
5 Sept 2026, 6:27 pm	Company Update Newspaper Publication	Announcement under Regulation 30 (LODR)-Newspaper Publication	PDF
4 Sept 2026, 9:15 pm	Company Update General	Communication To The Shareholders On Weblink Of Notice Of 16Th Annual General Meeting And Annual Report For The Financial Year 2025-26.	PDF

Manipal Health Enterprises Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Compounded sales growth

Compounded profit growth

Return on equity

Ratios

Shareholding

F&O

Not in the F&O segment

Fund holders

Documents

Announcements

Events

1

Announcements

1

Not in the F&O segment

Announcements

Offer and rights documents

Investor Presentation and earnings call

Compounded sales growth

Compounded profit growth

Return on equity

Manipal Health Enterprises Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

Ratios

Ratio timeline

Shareholding

Quarterly record

Board and management

F&O

Not in the F&O segment

Fund holders

Documents

Announcements

Events

Board meetings1

Announcements

Board meetings1

Ratio timeline

Quarterly record

Board and management

Not in the F&O segment

Announcements

Offer and rights documents

Investor Presentation and earnings call

Profit & loss

Balance sheet

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

1

1