Nephrocare Health Services Ltd.
•₹ 694.12.96%
2026-08-21
PROS
- Company is almost debt free
- Operating margins have improved to 22.7% from 12.5%
- Latest quarter profit grew 28.6% YoY, showing strong momentum
- Strong cash generation - operating cash flow backs reported profits (CFO/PAT 2.46x)
- Company generates healthy free cash flow
CONS
- A large part of profit comes from other income (25.1% of PBT)
- Equity base is being diluted - shares outstanding up 1053.3%
- Working capital days have increased from 126 to 197 days
- Though reporting repeated profits, the company pays out little dividend (0.0%)
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
EDIT COLUMNS| S.No. | Name | CMP Rs. | P/E | Mar Cap Rs.Cr. | Div Yld % | NP Qtr Rs.Cr. | Qtr Profit Var % | Sales Qtr Rs.Cr. | Qtr Sales Var % | ROCE % | OPM % |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 1. | APOLLOHOSP | 8799.00 | 60.55 | 126516.12 | 0.23 | 610.40 | 38.41 | 7043.50 | 20.56 | 21.73 | 15.70 |
| 2. | MANIPALHOS | 744.55 | 109.75 | 97936.41 | 0.00 | — | — | — | — | 13.93 | — |
| 3. | MAXHEALTH | 996.45 | 66.57 | 96982.14 | 0.20 | 322.96 | 4.87 | 2366.17 | 16.70 | 14.97 | 25.29 |
| 4. | ASTERDM | 800.70 | 219.01 | 69794.81 | 0.00 | 29.28 | -68.70 | 1310.68 | 21.60 | 11.46 | 19.53 |
| 5. | FORTIS | 910.80 | 65.62 | 68761.59 | 0.11 | 272.80 | 2.26 | 2545.03 | 17.46 | 14.07 | 21.28 |
| 6. | MEDANTA | 1419.05 | 68.60 | 38154.25 | 0.04 | 157.25 | -1.09 | 1304.05 | 26.50 | 20.50 | 21.99 |
| 7. | NH | 1782.70 | 44.64 | 36431.40 | 0.25 | 207.27 | 5.37 | 2683.63 | 78.05 | 16.20 | 17.43 |
| 8. | KIMS | 788.60 | 162.12 | 33121.71 | 0.00 | 37.40 | -56.00 | 1179.50 | 35.33 | 11.51 | 19.03 |
| 9. | LALPATHLAB | 1886.80 | 58.44 | 31669.72 | 1.09 | 1705.00 | 1172.39 | 7977.00 | 1090.95 | 29.56 | 31.03 |
| 10. | AGARWALEYE | 499.70 | 106.77 | 15841.80 | 0.00 | 55.02 | 44.56 | 614.02 | 25.97 | 14.32 | 27.75 |
| 11. | VIJAYA | 1489.70 | 81.84 | 15343.57 | 0.13 | 53.10 | 37.61 | 230.98 | 22.83 | 30.27 | 42.66 |
| 12. | NEPHROPLUS | 686.15 | 89.80 | 6899.86 | 0.00 | 31.97 | 28.57 | 281.75 | 28.54 | 16.18 | 21.41 |
Detailed Comparison with:
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
| Dec 2024 | Mar 2025 | Jun 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|
| 197 | 219 | 228 | 260 | 266 | 282 | |
| 153 | 168 | 206 | 199 | 212 | 245 | |
| Operating Profit | — | — | — | — | — | — |
| OPM % | — | — | — | — | — | — |
| Other Income | 5 | 4 | 7 | 3 | 12 | 7 |
| Interest | 5 | 6 | 6 | 6 | 3 | 2 |
| Depreciation | 18 | 19 | 20 | 22 | 26 | 25 |
| 26 | 30 | 29 | 36 | 36 | 41 | |
| Tax % | 23.94% | 16.91% | 16.88% | 11.33% | 7.85% | 22.07% |
| Net Profit | 0 | 0 | 24 | 32 | 30 | 32 |
| 2 | 3 | 0 | 3 | 3 | 0 | |
| Equity Capital | 2 | 2 | 4 | 20 | 20 | 20 |
| Reserves | 0 | 0 | 0 | 0 | 0 | 0 |
| Promoter Pledge % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Equity Capital | 2 | 2 | 4 | 20 | 20 | 20 |
| Reserves | 0 | 0 | 0 | 0 | 0 | 0 |
| Promoter Pledge % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Dec 2024
- 197
- 153
- Operating Profit
- —
- OPM %
- —
- Other Income
- 5
- Interest
- 5
- Depreciation
- 18
- 26
- Tax %
- 23.94%
- Net Profit
- 0
- 2
- Equity Capital
- 2
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 2
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Mar 2025
- 219
- 168
- Operating Profit
- —
- OPM %
- —
- Other Income
- 4
- Interest
- 6
- Depreciation
- 19
- 30
- Tax %
- 16.91%
- Net Profit
- 0
- 3
- Equity Capital
- 2
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 2
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Jun 2025
- 228
- 206
- Operating Profit
- —
- OPM %
- —
- Other Income
- 7
- Interest
- 6
- Depreciation
- 20
- 29
- Tax %
- 16.88%
- Net Profit
- 24
- 0
- Equity Capital
- 4
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 4
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Dec 2025
- 260
- 199
- Operating Profit
- —
- OPM %
- —
- Other Income
- 3
- Interest
- 6
- Depreciation
- 22
- 36
- Tax %
- 11.33%
- Net Profit
- 32
- 3
- Equity Capital
- 20
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 20
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Mar 2026
- 266
- 212
- Operating Profit
- —
- OPM %
- —
- Other Income
- 12
- Interest
- 3
- Depreciation
- 26
- 36
- Tax %
- 7.85%
- Net Profit
- 30
- 3
- Equity Capital
- 20
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 20
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Jun 2026
- 282
- 245
- Operating Profit
- —
- OPM %
- —
- Other Income
- 7
- Interest
- 2
- Depreciation
- 25
- 41
- Tax %
- 22.07%
- Net Profit
- 32
- 0
- Equity Capital
- 20
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 20
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|
| 437 | 566 | 756 | 999 | 1,035 | |
| 389 | 465 | 589 | 772 | 861 | |
| Operating Profit | 55 | 109 | 181 | 251 | — |
| OPM % | 12 | 19 | 24 | 25 | — |
| Other Income | 6 | 9 | 14 | 25 | 29 |
| Interest | 16 | 20 | 21 | 60 | 17 |
| Depreciation | 47 | 56 | 72 | 91 | 92 |
| -9 | 33 | 87 | 97 | 142 | |
| Tax % | -37 | -6 | 23 | 21 | 15 |
| Net Profit | -12 | 35 | 67 | 77 | 121 |
| EPS | -2 | 201 | 380 | 8 | — |
| Dividend Payout % | 0 | 0 | 0 | 0 | — |
| Minority Interest | 0 | 0 | 0 | 0 | 0 |
| Share of Associates | 0 | 0 | 0 | 0 | -7 |
| Adjusted EPS | -14 | 40 | 76 | 8 | — |
| Minority Interest | 0 | 0 | 0 | 0 | 0 |
| Share of Associates | 0 | 0 | 0 | 0 | -7 |
| Adjusted EPS | -14 | 40 | 76 | 8 | — |
Mar 2023
- 437
- 389
- Operating Profit
- 55
- OPM %
- 12
- Other Income
- 6
- Interest
- 16
- Depreciation
- 47
- -9
- Tax %
- -37
- Net Profit
- -12
- EPS
- -2
- Dividend Payout %
- 0
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- -14
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- -14
Mar 2024
- 566
- 465
- Operating Profit
- 109
- OPM %
- 19
- Other Income
- 9
- Interest
- 20
- Depreciation
- 56
- 33
- Tax %
- -6
- Net Profit
- 35
- EPS
- 201
- Dividend Payout %
- 0
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 40
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 40
Mar 2025
- 756
- 589
- Operating Profit
- 181
- OPM %
- 24
- Other Income
- 14
- Interest
- 21
- Depreciation
- 72
- 87
- Tax %
- 23
- Net Profit
- 67
- EPS
- 380
- Dividend Payout %
- 0
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 76
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 76
Mar 2026
- 999
- 772
- Operating Profit
- 251
- OPM %
- 25
- Other Income
- 25
- Interest
- 60
- Depreciation
- 91
- 97
- Tax %
- 21
- Net Profit
- 77
- EPS
- 8
- Dividend Payout %
- 0
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 8
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 8
TTM
- 1,035
- 861
- Operating Profit
- —
- OPM %
- —
- Other Income
- 29
- Interest
- 17
- Depreciation
- 92
- 142
- Tax %
- 15
- Net Profit
- 121
- EPS
- —
- Dividend Payout %
- —
- Minority Interest
- 0
- Share of Associates
- -7
- Adjusted EPS
- —
- Minority Interest
- 0
- Share of Associates
- -7
- Adjusted EPS
- —
COMPOUNDED SALES GROWTH
- 10 Years:
- —
- 5 Years:
- —
- 3 Years:
- 32%
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:
- 11%
- Last Year:
- 9%
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|
| LIABILITIES | - | - | - | - |
| 2 | 2 | 2 | 20 | |
| 375 | 402 | 566 | 1,078 | |
| 115 | 93 | 101 | 13 | |
| Trade Payables | 43 | 71 | 113 | 143 |
| 114 | 215 | 194 | 182 | |
| Total Liabilities | 650 | 782 | 976 | 1,437 |
| ASSETS | - | - | - | - |
| 239 | 356 | 396 | 517 | |
| Capital Work in Progress | 32 | 1 | 6 | 6 |
| 0 | 0 | 51 | 178 | |
| 26 | 26 | 27 | 33 | |
| 0 | 203 | 266 | 317 | |
| Cash & Bank | 14 | 61 | 155 | 255 |
| 338 | 136 | 75 | 132 | |
| Total Assets | 650 | 782 | 976 | 1,437 |
| Total Debt | 196 | 243 | 226 | 23 |
| Net Working Capital | 150 | 147 | 261 | 540 |
| Contingent Liabilities | 0 | 0 | 0 | 0 |
| Book Value per Share | 2167.32 | 2309.53 | 3217.49 | 109.48 |
| Face Value | 10.00 | 10.00 | 10.00 | 2.00 |
| Total Debt | 196 | 243 | 226 | 23 |
| Net Working Capital | 150 | 147 | 261 | 540 |
| Contingent Liabilities | 0 | 0 | 0 | 0 |
| Book Value per Share | 2167.32 | 2309.53 | 3217.49 | 109.48 |
| Face Value | 10.00 | 10.00 | 10.00 | 2.00 |
Mar 2023
- 2
- 375
- 115
- Trade Payables
- 43
- 114
- Total Liabilities
- 650
- 239
- Capital Work in Progress
- 32
- 0
- 26
- 0
- Cash & Bank
- 14
- 338
- Total Assets
- 650
- Total Debt
- 196
- Net Working Capital
- 150
- Contingent Liabilities
- 0
- Book Value per Share
- 2167.32
- Face Value
- 10.00
- Total Debt
- 196
- Net Working Capital
- 150
- Contingent Liabilities
- 0
- Book Value per Share
- 2167.32
- Face Value
- 10.00
Mar 2024
- 2
- 402
- 93
- Trade Payables
- 71
- 215
- Total Liabilities
- 782
- 356
- Capital Work in Progress
- 1
- 0
- 26
- 203
- Cash & Bank
- 61
- 136
- Total Assets
- 782
- Total Debt
- 243
- Net Working Capital
- 147
- Contingent Liabilities
- 0
- Book Value per Share
- 2309.53
- Face Value
- 10.00
- Total Debt
- 243
- Net Working Capital
- 147
- Contingent Liabilities
- 0
- Book Value per Share
- 2309.53
- Face Value
- 10.00
Mar 2025
- 2
- 566
- 101
- Trade Payables
- 113
- 194
- Total Liabilities
- 976
- 396
- Capital Work in Progress
- 6
- 51
- 27
- 266
- Cash & Bank
- 155
- 75
- Total Assets
- 976
- Total Debt
- 226
- Net Working Capital
- 261
- Contingent Liabilities
- 0
- Book Value per Share
- 3217.49
- Face Value
- 10.00
- Total Debt
- 226
- Net Working Capital
- 261
- Contingent Liabilities
- 0
- Book Value per Share
- 3217.49
- Face Value
- 10.00
Mar 2026
- 20
- 1,078
- 13
- Trade Payables
- 143
- 182
- Total Liabilities
- 1,437
- 517
- Capital Work in Progress
- 6
- 178
- 33
- 317
- Cash & Bank
- 255
- 132
- Total Assets
- 1,437
- Total Debt
- 23
- Net Working Capital
- 540
- Contingent Liabilities
- 0
- Book Value per Share
- 109.48
- Face Value
- 2.00
- Total Debt
- 23
- Net Working Capital
- 540
- Contingent Liabilities
- 0
- Book Value per Share
- 109.48
- Face Value
- 2.00
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|
| 11 | 72 | 135 | 233 | |
| Cash from Investing | -78 | -51 | -125 | -410 |
| Cash from Financing | 60 | 27 | 54 | 157 |
| -7 | 48 | 65 | -21 | |
| Free Cash Flow | 11 | -75 | 16 | 70 |
| OCF / Net Profit | -0.96 | 2.06 | 2.02 | 3.03 |
| Cumulative 5-Year FCF | 0 | 0 | 0 | 0 |
| OCF / Net Profit | -0.96 | 2.06 | 2.02 | 3.03 |
| Cumulative 5-Year FCF | 0 | 0 | 0 | 0 |
Mar 2023
- 11
- Cash from Investing
- -78
- Cash from Financing
- 60
- -7
- Free Cash Flow
- 11
- OCF / Net Profit
- -0.96
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- -0.96
- Cumulative 5-Year FCF
- 0
Mar 2024
- 72
- Cash from Investing
- -51
- Cash from Financing
- 27
- 48
- Free Cash Flow
- -75
- OCF / Net Profit
- 2.06
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- 2.06
- Cumulative 5-Year FCF
- 0
Mar 2025
- 135
- Cash from Investing
- -125
- Cash from Financing
- 54
- 65
- Free Cash Flow
- 16
- OCF / Net Profit
- 2.02
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- 2.02
- Cumulative 5-Year FCF
- 0
Mar 2026
- 233
- Cash from Investing
- -410
- Cash from Financing
- 157
- -21
- Free Cash Flow
- 70
- OCF / Net Profit
- 3.03
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- 3.03
- Cumulative 5-Year FCF
- 0
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|
| PER SHARE | - | - | - | - |
| EPS (₹) | -67.75 | 200.87 | 380.15 | 7.66 |
| Book Value (₹) | 2167.32 | 2309.53 | 3217.49 | 109.48 |
| Dividend per Share (₹) | 0.00 | 0.00 | 0.00 | 0.00 |
| Cash EPS (₹) | 40.33 | 104.34 | 158.15 | 16.69 |
| PROFITABILITY | - | - | - | - |
| Operating Margin % | 12.48% | 17.82% | 22.05% | 22.72% |
| Net Margin % | -2.70% | 6.21% | 8.88% | 7.69% |
| ROE % | -3.13% | 9.00% | 13.81% | 9.22% |
| ROCE % | 1.31% | 8.59% | 14.76% | 16.18% |
| -1.81% | 4.91% | 7.63% | 6.37% | |
| EFFICIENCY | - | - | - | - |
| Debtor Days | 132 | 116 | 113 | 107 |
| Inventory Days | 22 | 17 | 13 | 11 |
| Payable Days | 111 | 123 | 172 | 206 |
| 43 | 10 | -46 | -88 | |
| FINANCIAL HEALTH | - | - | - | - |
| Debt to Equity (x) | 0.52x | 0.60x | 0.40x | 0.02x |
| Interest Coverage (x) | 0.47x | 2.64x | 5.20x | 2.62x |
| 1.86x | 1.61x | 1.92x | 2.80x | |
| GROWTH | - | - | - | - |
| Revenue Growth % | 0.00% | 29.47% | 33.50% | 32.16% |
| Operating Profit Growth % | 0.00% | 100.61% | 65.13% | 39.14% |
| Net Profit Growth % | 0.00% | 398.02% | 90.98% | 14.52% |
| 0.00% | 396.48% | 89.25% | -97.99% | |
| VALUATION | - | - | - | - |
| P/E (x) | 0.00x | 0.00x | 0.00x | 66.02x |
| P/B (x) | 0.00x | 0.00x | 0.00x | 4.62x |
| Dividend Yield % | 0.00% | 0.00% | 0.00% | 0.00% |
| 0.00x | 1.71x | 0.42x | 19.25x |
Mar 2023
- EPS (₹)
- -67.75
- Book Value (₹)
- 2167.32
- Dividend per Share (₹)
- 0.00
- Cash EPS (₹)
- 40.33
- Operating Margin %
- 12.48%
- Net Margin %
- -2.70%
- ROE %
- -3.13%
- ROCE %
- 1.31%
- -1.81%
- Debtor Days
- 132
- Inventory Days
- 22
- Payable Days
- 111
- 43
- Debt to Equity (x)
- 0.52x
- Interest Coverage (x)
- 0.47x
- 1.86x
- Revenue Growth %
- 0.00%
- Operating Profit Growth %
- 0.00%
- Net Profit Growth %
- 0.00%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
Mar 2024
- EPS (₹)
- 200.87
- Book Value (₹)
- 2309.53
- Dividend per Share (₹)
- 0.00
- Cash EPS (₹)
- 104.34
- Operating Margin %
- 17.82%
- Net Margin %
- 6.21%
- ROE %
- 9.00%
- ROCE %
- 8.59%
- 4.91%
- Debtor Days
- 116
- Inventory Days
- 17
- Payable Days
- 123
- 10
- Debt to Equity (x)
- 0.60x
- Interest Coverage (x)
- 2.64x
- 1.61x
- Revenue Growth %
- 29.47%
- Operating Profit Growth %
- 100.61%
- Net Profit Growth %
- 398.02%
- 396.48%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 1.71x
Mar 2025
- EPS (₹)
- 380.15
- Book Value (₹)
- 3217.49
- Dividend per Share (₹)
- 0.00
- Cash EPS (₹)
- 158.15
- Operating Margin %
- 22.05%
- Net Margin %
- 8.88%
- ROE %
- 13.81%
- ROCE %
- 14.76%
- 7.63%
- Debtor Days
- 113
- Inventory Days
- 13
- Payable Days
- 172
- -46
- Debt to Equity (x)
- 0.40x
- Interest Coverage (x)
- 5.20x
- 1.92x
- Revenue Growth %
- 33.50%
- Operating Profit Growth %
- 65.13%
- Net Profit Growth %
- 90.98%
- 89.25%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.42x
Mar 2026
- EPS (₹)
- 7.66
- Book Value (₹)
- 109.48
- Dividend per Share (₹)
- 0.00
- Cash EPS (₹)
- 16.69
- Operating Margin %
- 22.72%
- Net Margin %
- 7.69%
- ROE %
- 9.22%
- ROCE %
- 16.18%
- 6.37%
- Debtor Days
- 107
- Inventory Days
- 11
- Payable Days
- 206
- -88
- Debt to Equity (x)
- 0.02x
- Interest Coverage (x)
- 2.62x
- 2.80x
- Revenue Growth %
- 32.16%
- Operating Profit Growth %
- 39.14%
- Net Profit Growth %
- 14.52%
- -97.99%
- P/E (x)
- 66.02x
- P/B (x)
- 4.62x
- Dividend Yield %
- 0.00%
- 19.25x
Documents
Announcements
- Analysts/Institutional Investor Meet/Con. Call Updates
2026-08-19 - Nephrocare Health Services Limited has informed the Exchange about Transcript
- Agreements
2026-08-17 - Nephrocare Health Services Limited has informed the Exchange about Agreements
Annual Reports
Nothing filed yet.
Credit Ratings
Nothing filed yet.
Concalls
Aug 2026
May 2026
Feb 2026