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 ₹ 5,998 Cr.
- Current Price ₹ 599
- High / Low ₹ 664 / 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 6.19 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
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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 | ||
| -64 | -167 | -75 | -23 | -104 | ||
| 36 | 147 | 63 | -36 | 26 | ||
| Net Cash Flow | 4 | -8 | -0 | -1 | 2 | |
| Free Cash Flow | -18 | -31 | -28 | -18 | -1 | |
| CFO/OP | 51% | 93% | 19% | 120% | 80% |
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| Dec 2010 | Dec 2012 | Dec 2015 | Mar 2019 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|
| Total Number of Dialysis Clinics (Global) Number |
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| Dialysis Machine Utilization Rate % |
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| Organized Dialysis Market Share (India) % |
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| Average Number of Sessions per Patient (Weekly) Sessions |
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| Total Number of Dialysis Machines Number |
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| Total Number of Dialysis Treatments Performed Millions |
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| Total Number of Patients (Guests) Served Number |
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Extracted by Screener AI
Documents
Announcements
- Announcement under Regulation 30 (LODR)-Earnings Call Transcript 2d
-
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
2d - Company will attend BoFA Healthcare Tour investor meeting in Hyderabad on June 4, 2026 at 8:00 A.M. IST.
- Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 2d
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Announcement under Regulation 30 (LODR)-Acquisition
2d - Nephrocare incorporated Kazakhstan step-down subsidiary NPHSK LLP on May 26, 2026 for dialysis network expansion.
- Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 2d
Annual reports
Concalls
-
May 2026Transcript PPT REC
-
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.