Healthcare Global Enterprises Ltd.
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ABOUT
AI Sector View
AI GENERATEDHealthcare
This stance relies on proxies and positioning because no direct pharma-export or healthcare operating series exists in the dataset. The depreciated currency at 95.23 (Sep/26) can support export earnings, inflation at 4.45% (Jul/26) is manageable for a defensive sector, and consumer spending remains large at INR 44743 billion (Jun/26). Strong FPI inflow of INR 10620 crore over 3 months to 2026-08-31 from INR -11381 crore in the prior 3 months adds a real sector-specific tailwind, but confidence stays capped because the fundamental drivers are indirect proxies.
PROS
- Latest quarter profit grew 61.7% YoY, showing strong momentum
- Strong cash generation - operating cash flow backs reported profits (CFO/PAT 10.12x)
- Company has delivered good sales growth of 17.4% CAGR over last 5 years
- Institutional investors have been accumulating - FII+DII up 6.5pp
- Company maintains a comfortable, low leverage position
CONS
- A large part of profit comes from other income (370.2% of PBT)
- Recent results are weak - TTM profit is down 29.8% versus prior year
- Company has a low return on equity of 1.4% over last 3 years
- Company has a low return on capital employed of 6.0%
- Promoter holding has decreased over last 2 years: -7.0pp
- Interest coverage is weak at 1.1x - earnings barely cover interest
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| APOLLOHOSP | 8960.00 | 61.66 | 128831.05 | 0.22 | 610.40 | 38.41 | 7043.50 | 20.56 | 21.73 | 15.70 |
| MAXHEALTH | 1036.50 | 69.24 | 100883.61 | 0.19 | 322.96 | 4.87 | 2366.17 | 16.70 | 14.97 | 25.29 |
| MANIPALHOS | 729.95 | 107.60 | 96015.96 | 0.00 | 2434.30 | — | 30906.30 | — | 13.93 | 23.83 |
| FORTIS | 911.90 | 65.70 | 68844.63 | 0.11 | 272.80 | 2.26 | 2545.03 | 17.46 | 14.07 | 21.28 |
| ASTERDM | 780.05 | 213.36 | 67994.81 | 0.00 | 29.28 | -68.70 | 1310.68 | 21.60 | 11.46 | 19.53 |
| MEDANTA | 1479.75 | 71.54 | 39786.30 | 0.03 | 157.25 | -1.09 | 1304.05 | 26.50 | 19.38 | 21.99 |
| NH | 1888.80 | 47.30 | 38599.67 | 0.24 | 207.27 | 5.37 | 2683.63 | 78.05 | 16.20 | 17.43 |
| LALPATHLAB | 1919.45 | 59.45 | 32217.74 | 1.07 | 1705.00 | 1172.39 | 7977.00 | 1090.95 | 29.56 | 31.03 |
| KIMS | 764.80 | 157.23 | 32122.10 | 0.00 | 37.40 | -56.00 | 1179.50 | 35.33 | 11.51 | 19.03 |
| AGARWALEYE | 514.20 | 109.87 | 16301.49 | 0.00 | 55.02 | 44.56 | 614.02 | 25.97 | 16.14 | 27.75 |
| VIJAYA | 1496.85 | 82.23 | 15417.21 | 0.13 | 53.10 | 37.61 | 230.98 | 22.83 | 30.28 | 42.66 |
| HCG | 711.95 | 466.62 | 10629.57 | 0.00 | 16.46 | 175.25 | 695.10 | 13.36 | 9.77 | 17.72 |
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 272 | 282 | 286 | 300 | 314 | 328 | 313 | 324 | 327 | 344 | 342 | 350 | 377 | |
| 225 | 232 | 237 | 243 | 262 | 268 | 270 | 265 | 277 | 284 | 288 | 275 | 379 | |
| Operating Profit | 48 | 50 | 49 | 57 | 53 | 61 | 42 | 59 | 50 | 61 | 54 | 75 | -2 |
| OPM % | 17.46% | 17.61% | 17.06% | 18.87% | 16.71% | 18.51% | 13.54% | 18.15% | 15.24% | 17.67% | 15.87% | 21.46% | -0.55% |
| 2 | 2 | 5 | -12 | 10 | 10 | -30 | 9 | 8 | 4 | -5 | -33 | 10 | |
| Interest | 10 | 11 | 14 | 15 | 20 | 21 | 21 | 22 | 24 | 21 | 21 | 20 | 22 |
| Depreciation | 22 | 23 | 25 | 26 | 27 | 28 | 28 | 29 | 28 | 30 | 30 | 31 | 40 |
| Profit before Tax | 18 | 18 | 15 | 4 | 16 | 23 | -36 | 17 | 5 | 15 | -1 | -9 | 7 |
| Tax % | 24.11% | 25.05% | 43.30% | 145.78% | 21.48% | 21.65% | -2.61% | 39.58% | 34.16% | 26.16% | 7.09% | 117.09% | 25.40% |
| Net Profit | 14 | 14 | 9 | -2 | 13 | 18 | -37 | 10 | 3 | 11 | -1 | 2 | 6 |
| 0.98 | 0.98 | 0.62 | -0.12 | 0.92 | 1.29 | -2.68 | 0.71 | 0.25 | 0.77 | -0.08 | 0.11 | 0.37 |
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 545 | 586 | 640 | 688 | 609 | 850 | 1,006 | 1,171 | 1,277 | 1,359 | 1,413 | |
| 462 | 504 | 546 | 573 | 535 | 703 | 837 | 970 | 1,065 | 1,124 | 1,225 | |
| Operating Profit | 83 | 82 | 94 | 116 | 73 | 147 | 169 | 201 | 211 | 236 | 188 |
| OPM % | 15.17% | 13.95% | 14.69% | 16.81% | 12.07% | 17.28% | 16.81% | 17.14% | 16.56% | 17.34% | 13.32% |
| 7 | 26 | 13 | -19 | -129 | 65 | 19 | 0 | 4 | -20 | -24 | |
| Interest | 16 | 27 | 48 | 83 | 63 | 43 | 41 | 50 | 84 | 86 | 84 |
| Depreciation | 44 | 44 | 47 | 79 | 87 | 88 | 89 | 97 | 111 | 120 | 131 |
| Profit before Tax | 29 | 37 | 13 | -65 | -205 | 81 | 58 | 54 | 20 | 10 | 12 |
| Tax % | 33.50% | 32.50% | 42.34% | 18.58% | 6.59% | 52.80% | 30.25% | 38.92% | 81.99% | -51.58% | -40.89% |
| Net Profit | 19 | 25 | 7 | -53 | -192 | 38 | 40 | 33 | 4 | 15 | 17 |
| EPS | 2.38 | 2.89 | 0.82 | -6.02 | -16.85 | 2.83 | 2.88 | 2.35 | 0.25 | 0.98 | — |
| Dividend Payout % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- 11%
- 5 Years:
- 17%
- 3 Years:
- 11%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- -29%
STOCK PRICE CAGR
- 10 Years:
- 13%
- 5 Years:
- 24%
- 3 Years:
- 24%
- 1 Year:
- 1%
RETURN ON EQUITY
- 10 Years:
- -1%
- 5 Years:
- 2%
- 3 Years:
- 1%
- Last Year:
- 1%
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 86 | 87 | 88 | 89 | 125 | 139 | 139 | 139 | 139 | 149 |
| 458 | 518 | 551 | 519 | 748 | 952 | 994 | 1,025 | 1,030 | 1,455 | |
| 170 | 279 | 461 | 790 | 474 | 326 | 351 | 725 | 1,052 | 941 | |
| Trade Payables | 105 | 114 | 106 | 99 | 81 | 96 | 109 | 148 | 152 | 162 |
| 91 | 105 | 194 | 257 | 119 | 130 | 137 | 202 | 231 | 205 | |
| Total Liabilities | 910 | 1,103 | 1,400 | 1,754 | 1,547 | 1,644 | 1,730 | 2,239 | 2,604 | 2,914 |
| 442 | 492 | 547 | 914 | 745 | 774 | 788 | 974 | 1,038 | 1,122 | |
| Capital Work in Progress | 33 | 79 | 104 | 44 | 28 | 5 | 9 | 36 | 23 | 14 |
| 141 | 219 | 299 | 316 | 366 | 439 | 475 | 506 | 696 | 704 | |
| 15 | 17 | 16 | 13 | 12 | 17 | 21 | 23 | 20 | 25 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 221 | 262 | 262 | |
| Cash & Bank | 75 | 15 | 9 | 15 | 14 | 120 | 80 | 237 | 264 | 474 |
| 204 | 281 | 426 | 452 | 382 | 289 | 356 | 241 | 302 | 312 | |
| Total Assets | 910 | 1,103 | 1,400 | 1,754 | 1,547 | 1,644 | 1,730 | 2,239 | 2,604 | 2,914 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 61 | 65 | 113 | 106 | 30 | 139 | 148 | 209 | 146 | 160 | |
| Cash from Investing | -73 | -185 | -208 | -116 | -246 | 49 | -138 | -254 | -347 | -76 |
| Cash from Financing | -14 | 91 | 66 | -3 | 236 | -41 | -42 | 96 | -42 | 336 |
| -33 | -27 | -55 | -32 | 61 | 132 | -49 | 51 | -243 | 421 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-09-09 - Healthcare Global Enterprises Limited has informed the Exchange about grant of Employee Stock Options under HealthCare Global Enterprises Limited- Employee Stock Option Scheme, 2026
2026-08-28 - Healthcare Global Enterprises Limited has informed the Exchange about Letter to Members of the Company containing weblink and path of Integrated Annual Report for the Financial Year 2025-26.
2026-08-28 - Healthcare Global Enterprises Limited has informed the Exchange about Copy of Newspaper Publication pertaining to dispatch of Notice of 28th Annual General Meeting and Integrated Annual Report for FY 2025-26.
2026-08-27 - Healthcare Global Enterprises Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on September 18, 2026 and Annual Report for FY 2025-26
2026-08-27 - Healthcare Global Enterprises Limited has informed the Exchange regarding 'Business Responsibility and Sustainability Report' for FY 2026.
2026-08-25 - Healthcare Global Enterprises Limited has informed the Exchange about copies of the newspaper advertisements published on August 25, 2026, in Business Standard (English) and Vijayawani (Kannada).
2026-08-10 - Healthcare Global Enterprises Limited has informed the Exchange about Transcript of the Earnings Call held on August 07, 2026 to discuss the Unaudited Financial Results of the Company.
2026-08-08 - Healthcare Global Enterprises Limited has informed the Exchange about Copy of Newspaper Publication of Unaudited Financial Results (Standalone and Consolidated) of the Company for the quarter ended June 30, 2026, approved at the meeting of Board of Directors held on August 06, 2026
2026-08-07 - Healthcare Global Enterprises Limited has informed the Exchange about Schedule of Group Investor meeting hosted by Ambit Capital to be held on August 12, 2026 in Bangalore.
News
Recent coverage and analyst commentary for HCG
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Healthcare Global Enterprises Ltd.
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