Nephrocare Health Services 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
- Company is almost debt free
- Strong cash generation - operating cash flow backs reported profits (CFO/PAT 8.96x)
CONS
- Company is loss-making at the operating / net level
- Recent results are weak - TTM profit is down 37.2% versus prior year
- Company has a low return on equity of 2.4% over last 3 years
- Company has a low return on capital employed of 6.0%
- Interest coverage is weak at 0.9x - earnings barely cover interest
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| APOLLOHOSP | 8670.00 | 59.66 | 124661.30 | 0.23 | 610.40 | 38.41 | 7043.50 | 20.56 | 21.73 | 15.70 |
| MANIPALHOS | 729.75 | 107.57 | 95989.65 | 0.00 | 2434.30 | — | 30906.30 | — | 13.93 | 23.83 |
| MAXHEALTH | 985.00 | 65.80 | 95867.73 | 0.20 | 322.96 | 4.87 | 2366.17 | 16.70 | 14.97 | 25.29 |
| FORTIS | 910.00 | 65.56 | 68701.19 | 0.11 | 272.80 | 2.26 | 2545.03 | 17.46 | 14.07 | 21.28 |
| ASTERDM | 785.80 | 214.94 | 68496.02 | 0.00 | 29.28 | -68.70 | 1310.68 | 21.60 | 11.46 | 19.53 |
| MEDANTA | 1468.85 | 71.01 | 39493.23 | 0.03 | 157.25 | -1.09 | 1304.05 | 26.50 | 19.38 | 21.99 |
| NH | 1859.10 | 46.55 | 37992.72 | 0.24 | 207.27 | 5.37 | 2683.63 | 78.05 | 16.20 | 17.43 |
| KIMS | 764.15 | 157.10 | 32094.80 | 0.00 | 37.40 | -56.00 | 1179.50 | 35.33 | 11.51 | 19.03 |
| LALPATHLAB | 1874.90 | 58.07 | 31469.98 | 1.09 | 1705.00 | 1172.39 | 7977.00 | 1090.95 | 29.56 | 31.03 |
| AGARWALEYE | 514.15 | 109.86 | 16299.90 | 0.00 | 55.02 | 44.56 | 614.02 | 25.97 | 16.14 | 27.75 |
| VIJAYA | 1496.35 | 82.20 | 15412.06 | 0.13 | 53.10 | 37.61 | 230.98 | 22.83 | 30.28 | 42.66 |
| NEPHROPLUS | 697.35 | 91.26 | 7012.48 | 0.00 | 31.97 | 28.57 | 281.75 | 28.54 | 16.18 | 21.41 |
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
| Dec 2024 | Mar 2025 | Jun 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|
| 138 | 145 | 149 | 161 | 164 | 170 | |
| 116 | 123 | 145 | 138 | 142 | 160 | |
| Operating Profit | 22 | 22 | 4 | 23 | 22 | 11 |
| OPM % | 16.25% | 15.00% | 2.64% | 14.23% | 13.43% | 6.20% |
| 4 | 3 | 3 | 3 | 6 | 6 | |
| Interest | 3 | 4 | 3 | 4 | 1 | 0 |
| Depreciation | 12 | 13 | 12 | 13 | 16 | 13 |
| Profit before Tax | 11 | 7 | 7 | 9 | 11 | 17 |
| Tax % | 24.84% | 23.45% | 27.31% | 5.69% | 1.00% | 24.74% |
| Net Profit | 8 | 6 | 5 | 8 | 11 | 13 |
| 1.00 | 0.70 | 0.60 | 0.90 | 1.09 | 1.25 |
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|
| 386 | 436 | 544 | 630 | 644 | |
| 348 | 384 | 449 | 542 | 585 | |
| Operating Profit | 38 | 52 | 95 | 88 | 59 |
| OPM % | 9.83% | 11.91% | 17.45% | 14.00% | 9.22% |
| 5 | 8 | 16 | 15 | 19 | |
| Interest | 15 | 17 | 14 | 50 | 9 |
| Depreciation | 41 | 43 | 51 | 58 | 55 |
| Profit before Tax | -13 | 0 | 45 | -4 | 44 |
| Tax % | -20.08% | -1688.94% | 24.52% | -113.85% | 15.24% |
| Net Profit | -15 | 4 | 34 | -8 | 37 |
| EPS | -29.86 | 22.20 | 193.97 | -0.80 | — |
| Dividend Payout % | 0.00% | 0.00% | 0.00% | 0.00% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- 18%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- —
STOCK PRICE CAGR
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- —
- 1 Year:
- —
RETURN ON EQUITY
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- 2%
- Last Year:
- -1%
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|
| 2 | 2 | 2 | 20 | |
| 383 | 393 | 524 | 933 | |
| 204 | 165 | 115 | 10 | |
| Trade Payables | 14 | 41 | 61 | 85 |
| 26 | 43 | 37 | 60 | |
| Total Liabilities | 630 | 644 | 739 | 1,107 |
| 169 | 219 | 234 | 245 | |
| Capital Work in Progress | 0 | 1 | 4 | 4 |
| 148 | 149 | 212 | 335 | |
| 22 | 19 | 18 | 18 | |
| 0 | 138 | 194 | 218 | |
| Cash & Bank | 3 | 2 | 33 | 225 |
| 287 | 117 | 43 | 63 | |
| Total Assets | 630 | 644 | 739 | 1,107 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|
| 7 | 57 | 80 | 133 | |
| Cash from Investing | -75 | -23 | -104 | -299 |
| Cash from Financing | 63 | -36 | 26 | 256 |
| -0 | -1 | 2 | 90 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|
| PER SHARE | ||||
| EPS (₹) | -88.89 | 22.20 | 193.97 | -0.80 |
| Book Value (₹) | 2213.38 | 2255.24 | 2978.93 | 94.97 |
| Dividend per Share (₹) | 0.00 | 0.00 | 0.00 | 0.00 |
| Cash EPS (₹) | 29.24 | 53.30 | 96.42 | 4.94 |
| PROFITABILITY | ||||
| Operating Margin % | 11.15% | 11.91% | 17.45% | 14.00% |
| Net Margin % | -4.01% | 0.89% | 6.30% | -1.28% |
| ROE % | -4.02% | 1.00% | 7.44% | -1.09% |
| ROCE % | 0.36% | 2.90% | 9.56% | 5.61% |
| -2.46% | 0.61% | 4.95% | -0.87% | |
| EFFICIENCY | ||||
| Debtor Days | 122 | 112 | 111 | 119 |
| Inventory Days | 21 | 17 | 12 | 10 |
| Payable Days | 40 | 73 | 125 | 166 |
| 103 | 56 | -1 | -36 | |
| FINANCIAL HEALTH | ||||
| Debt to Equity (x) | 0.51x | 0.45x | 0.23x | 0.00x |
| Interest Coverage (x) | 0.14x | 1.01x | 4.17x | 0.92x |
| 1.80x | 1.39x | 2.14x | 4.27x | |
| GROWTH | ||||
| Revenue Growth % | 0.00% | 12.98% | 24.61% | 15.85% |
| Operating Profit Growth % | 0.00% | 38.81% | 84.91% | -6.26% |
| Net Profit Growth % | 0.00% | 125.10% | 781.92% | -123.54% |
| 0.00% | 124.97% | 773.92% | -100.41% | |
| VALUATION | ||||
| P/E (x) | 0.00x | 0.00x | 0.00x | 0.00x |
| P/B (x) | 0.00x | 0.00x | 0.00x | 5.32x |
| Dividend Yield % | 0.00% | 0.00% | 0.00% | 0.00% |
| 0.00x | 3.04x | 0.86x | 46.81x |
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-09-03 - Nephrocare Health Services Limited has informed the Exchange about Grant of Employee Stock Options under the NephroPlus Employee Stock Option Scheme 2026.
2026-09-01 - Nephrocare Health Services Limited has informed the Exchange about Acquisition of 100% participatory interest in Dialysis Center Almaty LLP, Kazakhstan
2026-08-31 - Nephrocare Health Services Limited has informed the Exchange about Tax demand pursuant to tax audit.
2026-08-19 - Nephrocare Health Services Limited has informed the Exchange about Transcript
2026-08-17 - Nephrocare Health Services Limited has informed the Exchange about Agreements
2026-08-13 - Nephrocare Health Services Limited has submitted the Exchange a copy Srutinizers report of Annual General Meeting held on August 12, 2026. Further, the company has informed the Exchange regarding voting results.
2026-08-13 - Nephrocare Health Services Limited has informed the Exchange about Schedule of meet
2026-08-13 - Nephrocare Health Services Limited has informed the Exchange about Agreements
2026-08-12 - Nephrocare Health Services Limited has informed regarding Disclosure of material issue regarding Clarification to disclosure under Reg 30 dated May 26, 2026 regarding incorporation of Nephrocare Services Kazakhstan LLP.
News
Recent coverage and analyst commentary for NEPHROPLUS
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Nephrocare Health Services Ltd.
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