Dolphin Medical Services Ltd

₹ 5.12 4.92%

06 Apr - close price

About

Incorporated in 1984, Dolphin Medical Services Ltd is in the business of diagnostics and
other allied services.^[1]

Key Points

Business Overview:^[1]
a) DMSL provides a range of tests covering Radiology and Imaging, Biochemistry, Pathology, and Microbiology, etc., to the people of the coastal region of Andhra Pradesh.
b) Additionally, it has the eye care
division called the Dolphin Nethralaya
which is a comprehensive eye care
and a laser and research centre.
c) The company has also ventured
into IT and Biotechnology and Herbal
sectors

Website BSE

Market Cap ₹ 7.73 Cr.
Current Price ₹ 5.12
High / Low ₹ 5.12 / 1.98
Stock P/E
Book Value ₹ 6.68
Dividend Yield 0.00 %
ROCE -0.18 %
ROE -0.30 %
Face Value ₹ 10.0

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Pros

Company is almost debt free.
Stock is trading at 0.77 times its book value

Cons

Company has low interest coverage ratio.
Promoter holding is low: 26.4%
Company has a low return on equity of -0.82% over last 3 years.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Healthcare Healthcare Healthcare Services Healthcare Service Provider

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Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025
	0.22	0.08	0.15	0.18	0.20	0.14	0.14	0.25	0.24	0.14	0.17	0.18	0.21
	0.20	0.16	0.13	0.17	0.20	0.27	0.13	0.23	0.23	0.19	0.14	0.16	0.18
Operating Profit	0.02	-0.08	0.02	0.01	0.00	-0.13	0.01	0.02	0.01	-0.05	0.03	0.02	0.03
OPM %	9.09%	-100.00%	13.33%	5.56%	0.00%	-92.86%	7.14%	8.00%	4.17%	-35.71%	17.65%	11.11%	14.29%
	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01
Interest	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Depreciation	0.02	0.02	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.03	0.01	0.03	0.03
Profit before tax	0.01	-0.09	0.02	0.01	0.00	-0.13	0.01	0.02	0.01	-0.07	0.03	0.00	0.01
Tax %	0.00%	11.11%	0.00%	0.00%		7.69%	0.00%	0.00%	0.00%	0.00%	0.00%		0.00%
	0.01	-0.10	0.01	0.01	0.00	-0.13	0.01	0.02	0.01	-0.07	0.03	0.01	0.02
EPS in Rs	0.01	-0.07	0.01	0.01	0.00	-0.09	0.01	0.01	0.01	-0.05	0.02	0.01	0.01
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
	0.96	0.36	0.57	0.35	0.15	0.06	0.18	0.47	0.52	0.61	0.68	0.78	0.70
	1.06	0.39	0.39	0.33	0.23	0.20	0.52	6.24	0.66	0.69	0.76	0.78	0.67
Operating Profit	-0.10	-0.03	0.18	0.02	-0.08	-0.14	-0.34	-5.77	-0.14	-0.08	-0.08	0.00	0.03
OPM %	-10.42%	-8.33%	31.58%	5.71%	-53.33%	-233.33%	-188.89%	-1,227.66%	-26.92%	-13.11%	-11.76%	0.00%	4.29%
	0.00	0.01	0.15	0.02	0.09	-0.63	0.05	5.55	0.04	0.04	0.04	0.04	0.04
Interest	0.05	0.05	0.06	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.00
Depreciation	0.71	0.52	0.34	0.33	0.33	0.24	0.06	0.06	0.06	0.06	0.05	0.06	0.10
Profit before tax	-0.86	-0.59	-0.07	-0.30	-0.33	-1.02	-0.36	-0.29	-0.17	-0.11	-0.10	-0.03	-0.03
Tax %	0.00%	-3.39%	-28.57%	-10.00%	-12.12%	-1.96%	5.56%	6.90%	5.88%	9.09%	10.00%	0.00%
	-0.86	-0.57	-0.05	-0.27	-0.30	-1.01	-0.39	-0.31	-0.19	-0.12	-0.10	-0.03	-0.01
EPS in Rs	-0.57	-0.38	-0.03	-0.18	-0.20	-0.67	-0.26	-0.21	-0.13	-0.08	-0.07	-0.02	-0.01
Dividend Payout %	0.00%	0.00%	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:	8%
5 Years:	34%
3 Years:	14%
TTM:	-9%

Compounded Profit Growth
10 Years:	7%
5 Years:	14%
3 Years:	23%
TTM:	89%

Stock Price CAGR
10 Years:	18%
5 Years:	27%
3 Years:	48%
1 Year:	120%

Return on Equity
10 Years:	-2%
5 Years:	-1%
3 Years:	-1%
Last Year:	0%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Sep 2025
Equity Capital	15.10	15.10	15.10	15.10	15.10	15.10	15.10	15.10	15.10	15.10	15.10	15.10	15.10
Reserves	-1.72	-2.30	-2.34	-2.61	-2.91	-3.91	-4.30	-4.61	-4.80	-4.92	-5.03	-5.06	-5.02
	8.10	8.05	8.16	8.21	8.21	6.22	6.37	0.61	0.68	0.76	0.80	0.87	0.83
	0.75	0.74	0.67	0.65	0.61	0.58	0.71	1.23	1.26	1.23	1.27	1.17	1.30
Total Liabilities	22.23	21.59	21.59	21.35	21.01	17.99	17.88	12.33	12.24	12.17	12.14	12.08	12.21
	11.23	14.50	10.36	10.03	9.70	6.79	6.74	3.00	2.94	2.87	2.83	2.76	6.67
CWIP	5.93	2.14	5.93	5.93	5.93	5.93	5.93	4.09	4.09	4.09	4.09	4.09	0.31
Investments	0.52	0.52	0.52	0.41	0.41	0.41	0.41	0.41	0.41	0.41	0.41	0.41	0.41
	4.55	4.43	4.78	4.98	4.97	4.86	4.80	4.83	4.80	4.80	4.81	4.82	4.82
Total Assets	22.23	21.59	21.59	21.35	21.01	17.99	17.88	12.33	12.24	12.17	12.14	12.08	12.21

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	0.18	0.05	-0.12	-0.07	0.00	0.02	-0.13	0.27	-0.10	-0.07	-0.05	-0.06
	-0.17	0.00	0.01	0.03	0.00	1.97	-0.01	0.00	0.00	0.00	0.00	0.00
	-0.01	-0.05	0.11	0.05	0.00	-1.99	0.15	-0.25	0.07	0.07	0.05	0.06
Net Cash Flow	0.00	0.00	0.00	0.00	0.00	0.00	0.01	0.03	-0.02	0.00	0.00	0.00
Free Cash Flow	0.18	0.05	-0.11	-0.07	0.00	1.99	-0.14	0.27	-0.10	-0.07	-0.05	-0.06
CFO/OP	-180%	-167%	-56%	-200%	0%	-14%	38%	-5%	71%	88%	62%

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Debtor Days	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Inventory Days	36.50	36.50	21.47	0.00	0.00	0.00	0.00	0.00	0.00	0.00	33.18	30.42
Days Payable	12.17	73.00	0.00								0.00	0.00
Cash Conversion Cycle	24.33	-36.50	21.47	0.00	0.00	0.00	0.00	0.00	0.00	0.00	33.18	30.42
Working Capital Days	589.32	1,449.86	1,171.84	2,106.57	4,891.00	11,619.17	3,629.72	986.28	898.46	771.89	687.06	645.77
ROCE %	-3.69%	-2.55%	-0.05%	-0.96%	-1.56%	-1.69%	-2.02%	-1.98%	-1.45%	-0.91%	-0.83%	-0.18%

Insights

In beta

Mar 2014

Mar 2015

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Cost of Medical Materials Consumed
INR

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Employee Benefit Expense
INR

Gross Block of Medical & Diagnostic Equipment
INR

Revenue from Diagnostic & Allied Services
INR

Shareholding Pattern

Numbers in percentages

1 Recently

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
	26.44%	26.44%	26.44%	26.44%	26.44%	26.44%	26.44%	26.44%	26.44%	26.44%	26.44%	26.44%
	73.56%	73.56%	73.56%	73.57%	73.56%	73.57%	73.57%	73.57%	73.57%	73.57%	73.57%	73.57%
No. of Shareholders	9,150	9,136	9,360	9,349	9,358	9,349	9,349	9,349	9,349	9,349	9,349	9,349

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	26.44%	26.44%	26.44%	26.44%	26.44%	26.44%	26.44%	26.44%	26.44%	26.44%
	73.56%	73.56%	73.56%	73.56%	73.56%	73.56%	73.56%	73.57%	73.57%	73.57%
No. of Shareholders	6,050	5,852	5,870	5,876	6,756	9,073	9,145	9,349	9,349	9,349

Dolphin Medical Services Ltd

Dolphin Medical Services Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Insights

Shareholding Pattern

Documents

Announcements

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