Manipal Health Enterprises Ltd.

•

manipalhospitals.comBSE: -NSE: MANIPALHOS

Market Cap₹ 96,016 Cr.

Current Price

High / Low₹ 815 / 625

Stock P/E179.4

Book Value₹ 115

Price to Book6.39

Dividend Yield0.00 %

ROCE13.0 %

ROE11.8 %

Face Value₹ 2

Add ratio to table

ABOUT

AI Sector View

AI GENERATED

Healthcare

Buy

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.

Confidence

50%

View full sector analysis →

PROS

Company has delivered good profit growth of 41.5% CAGR over last 5 years
Promoters have been increasing their shareholding - up 13.3pp over 2 years
Operating margins have improved to 27.2% from 22.2%
Strong cash generation - operating cash flow backs reported profits (CFO/PAT 1.77x)
Institutional investors have been accumulating - FII+DII up 8.9pp
Company generates healthy free cash flow

CONS

Receivables are growing faster than sales - a possible quality concern
Company has a low return on equity of 9.0% over last 3 years
Total debt has risen sharply - up 39.3% year on year
Recurring exceptional / one-off items are inflating headline profit
Though reporting repeated profits, the company pays out little dividend (0.0%)
Growth is decelerating - 3Y profit CAGR (26.6%) trails the 5Y trend (41.5%)

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

HealthcareHealthcareHospital & Healthcare Services

Part ofNIFTY 50 NIFTY 500 NIFTY LARGEMIDCAP 250 NIFTY 100 NIFTY 200

S.No.	Name
1.	APOLLOHOSP	8960.00	61.66	128831.05	0.22	610.40	38.41	7043.50	20.56	21.73	15.70
2.	MAXHEALTH	1036.50	69.24	100883.61	0.19	322.96	4.87	2366.17	16.70	14.97	25.29
3.	MANIPALHOS	729.95	107.60	96015.96	0.00	2434.30	—	30906.30	—	13.93	23.83
4.	FORTIS	911.90	65.70	68844.63	0.11	272.80	2.26	2545.03	17.46	14.07	21.28
5.	ASTERDM	780.05	213.36	67994.81	0.00	29.28	-68.70	1310.68	21.60	11.46	19.53
6.	MEDANTA	1479.75	71.54	39786.30	0.03	157.25	-1.09	1304.05	26.50	19.38	21.99
7.	NH	1888.80	47.30	38599.67	0.24	207.27	5.37	2683.63	78.05	16.20	17.43
8.	LALPATHLAB	1919.45	59.45	32217.74	1.07	1705.00	1172.39	7977.00	1090.95	29.56	31.03
9.	KIMS	764.80	157.23	32122.10	0.00	37.40	-56.00	1179.50	35.33	11.51	19.03
10.	AGARWALEYE	514.20	109.87	16301.49	0.00	55.02	44.56	614.02	25.97	16.14	27.75
11.	VIJAYA	1496.85	82.23	15417.21	0.13	53.10	37.61	230.98	22.83	30.28	42.66
12.	RAINBOW	1450.65	51.63	14733.76	0.24	62.54	16.23	469.99	33.17	28.25	28.65

Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Jun 2025	Jun 2026
	818	10,483
	685	9,240
Operating Profit	133	1,243
OPM %	16.32%	11.86%
	35	543
Interest	43	616
Depreciation	47	641
Profit before Tax	168	1,518
Tax %	25.05%	23.87%
Net Profit	126	1,155
	1.09	0.98

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	1,093	1,242	1,297	1,436	1,672	1,407	2,120	2,408	2,707	3,104
	915	1,030	1,065	1,150	1,271	1,108	1,648	1,736	1,926	2,259
Operating Profit	179	212	233	287	401	299	471	673	781	845
OPM %	16.35%	17.08%	17.93%	19.96%	23.99%	21.23%	22.24%	27.93%	28.86%	27.24%
	60	55	19	37	16	-16	176	-77	31	101
Interest	66	136	136	132	157	151	185	172	168	149
Depreciation	86	111	121	133	123	128	125	139	139	149
Profit before Tax	86	20	-5	58	137	4	336	285	505	649
Tax %	35.76%	-71.84%	434.98%	49.74%	31.00%	510.78%	21.52%	31.78%	33.38%	17.47%
Net Profit	55	34	16	29	94	-16	264	194	336	535
EPS	9.17	4.92	2.37	4.25	13.73	-2.39	34.87	25.70	44.47	69.47
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:: 13%
5 Years:: 13%
3 Years:: 14%

COMPOUNDED PROFIT GROWTH

10 Years:: 75%
5 Years:: 42%
3 Years:: 27%

STOCK PRICE CAGR

10 Years:: —
5 Years:: —
3 Years:: —
1 Year:: —

RETURN ON EQUITY

10 Years:: 5%
5 Years:: 7%
3 Years:: 9%
Last Year:: 12%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	60	69	69	69	69	69	76	76	76	77
	1,478	1,566	1,583	1,612	1,707	1,691	3,083	3,279	3,822	5,104
	574	1,071	1,115	1,122	1,344	1,372	1,478	1,575	1,466	2,326
Trade Payables	74	108	170	238	261	358	378	457	433	412
	242	206	228	266	368	260	723	243	418	451
Total Liabilities	2,429	3,019	3,165	3,308	3,748	3,749	5,738	5,629	6,215	8,369
	1,308	1,676	1,665	1,634	1,949	1,573	1,541	1,544	1,589	1,652
Capital Work in Progress	49	42	37	52	85	12	21	27	20	583
	646	893	954	964	1,030	1,115	2,937	3,202	3,391	4,636
	31	33	26	26	27	14	37	16	31	28
	94	107	108	118	96	85	158	128	133	191
Cash & Bank	8	20	19	54	38	16	20	29	228	150
	292	249	356	460	524	936	1,022	684	824	1,131
Total Assets	2,429	3,019	3,165	3,308	3,748	3,749	5,738	5,629	6,215	8,369

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	47	231	229	321	416	390	375	616	624	644
Cash from Investing	-181	-382	-165	-178	-252	-213	-1,465	-511	-405	-1,852
Cash from Financing	57	197	-38	-107	-178	-198	1,095	-97	-19	1,107
	-14	47	26	36	-14	-21	5	8	199	-100

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025

Shareholding Pattern

Numbers in percentages

Sep 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Aug 2026
58.77	58.77	58.77	58.77	44.92	50.40	0.00	0.00	72.08
0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	3.66
0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	5.20
0.00	0.00	0.00	0.00	8.45	0.00	0.00	0.00	0.00
1.65	41.23	41.23	41.23	46.63	49.60	100.00	100.00	18.81

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-09-05

Copy of Newspaper Publication

2026-09-05 - Newspaper advertisement for information regarding the dispatch of the 16th AGM Notice and other related information including e-voting

2026-09-04

General Updates

2026-09-04 - Communication to the shareholders on weblink of notice of 16th Annual General Meetingand Annual Report for the financial year 2025-26.

2026-09-03

Copy of Newspaper Publication

2026-09-03 - Newspaper Publication - Information regarding 16th Annual General Meeting

2026-08-27

Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-27 - Manipal Health Enterprises Limited has informed the Exchange about Transcript for the Earnings call with Investors/ Analysts held on August 21, 2026

2026-08-21

Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-21 - Audio Recording of the Earnings call with Analysts/ Investor

2026-08-21

Copy of Newspaper Publication

2026-08-21 - Newspaper extract of the Un-audited Financial Results of the Company for the quarter ended June 30, 2026

2026-08-20

Change in Management

2026-08-20 - Manipal Health Enterprises Limited has informed the Exchange about change in Management

2026-08-20

Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-20 - Press Release and Investor Presentation for the Earnings Conference Call with Analysts and Investors of Manipal Health Enterprises Limited (the Company )

2026-08-20

Press Release

2026-08-20 - Press Release and Investor Presentation for the Earnings Conference Call with Analysts and Investors of Manipal Health Enterprises Limited (the Company )

News

Recent coverage and analyst commentary for MANIPALHOS

Loading news…

🤖

AI Stock Analyst

Manipal Health Enterprises Ltd.

🔒

Sign in to Chat with AI

✨ Sign In to Chat

Free 5nance Account

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

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

RAINBOW

1450.65

51.63

14733.76

0.24

62.54

16.23

469.99

33.17

28.25

28.65

Jun 2025

Jun 2026

818

10,483

685

9,240

Operating Profit

133

1,243

OPM %

16.32%

11.86%

543

Interest

616

Depreciation

641

Profit before Tax

168

1,518

Tax %

25.05%

23.87%

Net Profit

126

1,155

1.09

0.98

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

1,093

1,242

1,297

1,436

1,672

1,407

2,120

2,408

2,707

3,104

915

1,030

1,065

1,150

1,271

1,108

1,648

1,736

1,926

2,259

Operating Profit

179

212

233

287

401

299

471

673

781

845

OPM %

16.35%

17.08%

17.93%

19.96%

23.99%

21.23%

22.24%

27.93%

28.86%

27.24%

-16

176

-77

101

Interest

136

132

157

151

185

172

168

149

Depreciation

111

121

133

123

128

125

139

149

Profit before Tax

-5

137

336

285

505

649

Tax %

35.76%

-71.84%

434.98%

49.74%

31.00%

510.78%

21.52%

31.78%

33.38%

17.47%

Net Profit

-16

264

194

336

535

EPS

9.17

4.92

2.37

4.25

13.73

-2.39

34.87

25.70

44.47

69.47

Dividend Payout %

0.00%

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Equity Capital

1,478

1,566

1,583

1,612

1,707

1,691

3,083

3,279

3,822

5,104

574

1,071

1,115

1,122

1,344

1,372

1,478

1,575

1,466

2,326

Trade Payables

108

170

238

261

358

378

457

433

412

242

206

228

266

368

260

723

243

418

451

Total Liabilities

2,429

3,019

3,165

3,308

3,748

3,749

5,738

5,629

6,215

8,369

1,308

1,676

1,665

1,634

1,949

1,573

1,541

1,544

1,589

1,652

Capital Work in Progress

583

646

893

954

964

1,030

1,115

2,937

3,202

3,391

4,636

107

108

118

158

128

133

191

Cash & Bank

228

150

292

249

356

460

524

936

1,022

684

824

1,131

Total Assets

2,429

3,019

3,165

3,308

3,748

3,749

5,738

5,629

6,215

8,369

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

231

229

321

416

390

375

616

624

644

Cash from Investing

-181

-382

-165

-178

-252

-213

-1,465

-511

-405

-1,852

Cash from Financing

197

-38

-107

-178

-198

1,095

-97

-19

1,107

-14

-21

199

-100

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Sep 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Aug 2026

58.77

44.92

50.40

0.00

72.08

0.00

3.66

0.00

5.20

0.00

8.45

0.00

1.65

41.23

46.63

49.60

100.00

18.81

Manipal Health Enterprises Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI

Manipal Health Enterprises Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI