Nephrocare Health Services Ltd
Incorporated in 2010, Nephrocare Health Services Ltd. provides end-to-end dialysis care through a wide network of clinics across India and select international markets.[1]
- Market Cap ₹ 6,518 Cr.
- Current Price ₹ 650
- High / Low ₹ 770 / 445
- Stock P/E
- Book Value ₹ 96.8
- Dividend Yield 0.00 %
- ROCE 5.58 %
- ROE -1.07 %
- Face Value ₹ 2.00
Pros
- Company has reduced debt.
- Company is almost debt free.
Cons
- Stock is trading at 6.77 times its book value
- Company has low interest coverage ratio.
- Company has a low return on equity of 1.86% over last 3 years.
- Company's cost of borrowing seems high
- Working capital days have increased from 91.7 days to 155 days
* 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
Part of BSE Healthcare BSE IPO Nifty IPO BSE 1000
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| 284 | 317 | 386 | 436 | 544 | 630 | |
| 247 | 299 | 348 | 384 | 449 | 542 | |
| Operating Profit | 38 | 18 | 38 | 52 | 95 | 88 |
| OPM % | 13% | 6% | 10% | 12% | 17% | 14% |
| 5 | 4 | 5 | 8 | 16 | 15 | |
| Interest | 7 | 10 | 15 | 17 | 14 | 50 |
| Depreciation | 34 | 39 | 41 | 43 | 51 | 58 |
| Profit before tax | 1 | -28 | -13 | 0 | 45 | -4 |
| Tax % | 22% | -22% | 20% | -1,668% | 25% | 114% |
| 1 | -22 | -15 | 4 | 34 | -8 | |
| EPS in Rs | 5.57 | -110.19 | -77.01 | 18.76 | 164.24 | -0.80 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 17% |
| 3 Years: | 18% |
| TTM: | 16% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 14% |
| TTM: | -124% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | % |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 0% |
| 3 Years: | 2% |
| Last Year: | -1% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Equity Capital | 2 | 2 | 2 | 2 | 2 | 20 |
| Reserves | 246 | 407 | 392 | 399 | 537 | 951 |
| 140 | 119 | 200 | 182 | 127 | 12 | |
| 32 | 45 | 54 | 82 | 92 | 152 | |
| Total Liabilities | 419 | 572 | 647 | 665 | 757 | 1,135 |
| 159 | 167 | 169 | 219 | 234 | 245 | |
| CWIP | 0 | 2 | 3 | 1 | 4 | 4 |
| Investments | 47 | 110 | 148 | 149 | 212 | 335 |
| 212 | 293 | 328 | 297 | 306 | 551 | |
| Total Assets | 419 | 572 | 647 | 665 | 757 | 1,135 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| 33 | 12 | 11 | 57 | 80 | 133 | |
| -64 | -167 | -75 | -23 | -104 | -299 | |
| 36 | 147 | 63 | -36 | 26 | 256 | |
| Net Cash Flow | 4 | -8 | -0 | -1 | 2 | 90 |
| Free Cash Flow | -18 | -31 | -28 | -18 | -1 | 57 |
| CFO/OP | 51% | 93% | 19% | 120% | 80% | 171% |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Debtor Days | 98 | 106 | 122 | 116 | 130 | 126 |
| Inventory Days | 65 | 50 | 61 | 51 | 43 | 41 |
| Days Payable | 56 | 52 | 40 | 108 | 150 | 192 |
| Cash Conversion Cycle | 107 | 104 | 143 | 59 | 23 | -25 |
| Working Capital Days | 21 | 48 | 116 | 58 | 62 | 155 |
| ROCE % | -4% | 0% | 3% | 10% | 6% |
Insights
In beta| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Machine Utilization Rate % |
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| International Revenue Share % |
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| Number of Active Guests (Patients) guests |
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| Number of Dialysis Machines machines |
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| Number of Dialysis Treatments (Sessions) sessions |
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| Number of PPP (Public-Private Partnership) Clinics clinics |
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| Revenue per Treatment (RPT) INR |
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| Total Number of Dialysis Clinics clinics |
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Extracted by Screener AI
Documents
Announcements
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Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
2d - Submitted Regulation 74(5) certificate for quarter ended June 30, 2026.
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Issuance Of Standby Letter Of Credit Facilities
6 Jul - Company provided Citibank collateral support for NHSI on July 6, 2026; commitment is USD 3.3 million (₹31.22 crore).
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Issuance Of Corporate Guarantee And Standby Letter Of Credit Facilities
25 Jun - Executed USD 5.5 million guarantee and provided USD 3.32 million security support for overseas subsidiaries.
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Announcement under Regulation 30 (LODR)-Memorandum of Understanding /Agreements
25 Jun - Overseas subsidiary acquires dialysis center assets in Orion, Bataan for PhP 151.6 million.
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Announcement under Regulation 30 (LODR)-Memorandum of Understanding /Agreements
23 Jun - Step-down subsidiary acquired dialysis center assets in Philippines for PhP 80.64 million on June 22, 2026.
Annual reports
Concalls
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May 2026Transcript PPT REC
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Feb 2026Transcript PPT REC
Business Profile[1]
Nephrocare Health Services Limited (NHSL) is India’s largest dialysis-care provider offering a full spectrum of renal-care services haemodialysis, peritoneal dialysis, home haemodialysis, dialysis-on-call, dialysis-on-wheels, pharmacy support, diagnostics, and wellness management. It operates through captive hospital-based clinics, standalone centres, and large Public-Private Partnership (PPP) units.