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 ₹ 4,942 Cr.
- Current Price ₹ 493
- High / Low ₹ 512 / 445
- Stock P/E 74.3
- Book Value ₹
- Dividend Yield 0.00 %
- ROCE 14.1 %
- ROE 13.4 %
- Face Value ₹ 2.00
Pros
- Company's working capital requirements have reduced from 33.7 days to 26.7 days
Cons
- Promoter holding has decreased over last quarter: -15.2%
- Company has a low return on equity of 7.01% 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
Part of BSE IPO
Half Yearly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|
| 286 | 318 | 437 | 566 | 756 | |
| 248 | 302 | 389 | 465 | 589 | |
| Operating Profit | 37 | 16 | 49 | 101 | 167 |
| OPM % | 13% | 5% | 11% | 18% | 22% |
| 5 | 10 | 6 | 8 | 14 | |
| Interest | 7 | 10 | 16 | 20 | 21 |
| Depreciation | 34 | 42 | 47 | 56 | 72 |
| Profit before tax | 1 | -27 | -9 | 33 | 87 |
| Tax % | 31% | -21% | 37% | -6% | 23% |
| 1 | -21 | -12 | 35 | 67 | |
| EPS in Rs | 3.40 | -106.93 | -58.69 | 169.82 | 321.87 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 34% |
| TTM: | 34% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 72% |
| TTM: | 89% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | % |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 7% |
| Last Year: | 13% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|
| Equity Capital | 2 | 2 | 2 | 2 | 2 | 4 |
| Reserves | 245 | 391 | 384 | 409 | 579 | 713 |
| 140 | 119 | 200 | 271 | 261 | 261 | |
| 42 | 59 | 81 | 124 | 153 | 215 | |
| Total Liabilities | 428 | 571 | 666 | 806 | 994 | 1,194 |
| 192 | 205 | 239 | 356 | 396 | 475 | |
| CWIP | 2 | 43 | 34 | 1 | 6 | 11 |
| Investments | 0 | 0 | 0 | 0 | 51 | 123 |
| 234 | 322 | 393 | 449 | 542 | 585 | |
| Total Assets | 428 | 571 | 666 | 806 | 994 | 1,194 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|
| 32 | 14 | 11 | 72 | 135 | |
| -62 | -130 | -76 | -52 | -125 | |
| 36 | 121 | 60 | 27 | 54 | |
| Net Cash Flow | 5 | 6 | -4 | 47 | 65 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|
| Debtor Days | 101 | 123 | 132 | 131 | 129 |
| Inventory Days | 65 | 50 | 67 | ||
| Days Payable | 56 | 70 | 63 | ||
| Cash Conversion Cycle | 110 | 103 | 137 | 131 | 129 |
| Working Capital Days | 26 | 55 | 19 | 56 | 27 |
| ROCE % | -4% | 1% | 8% | 14% |
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Change in Management
1d - Independent director Om Prakash Manchanda reappointed Feb 11, 2026–Feb 10, 2029; Secretarial auditor appointed Apr 1, 2025–Mar 31, 2030.
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Closure of Trading Window
29 Dec - Trading window closed from Dec 31, 2025 until 48 hours after unaudited Q3/9M Dec 31, 2025 results.
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Disclosures under Reg. 29(1) of SEBI (SAST) Regulations 2011
23 Dec - Polar Capital funds bought 214,331 shares on 19/12/2025, raising stake to 5.057% in Nephrocare.
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Disclosures under Reg. 29(1) of SEBI (SAST) Regulations 2011
23 Dec - Polar Capital funds acquired 214,331 shares (0.214%), raising Nephrocare stake to 5.057% on 19/12/2025.
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Appointment of Company Secretary and Compliance Officer
22 Dec - Appointed Kishore Kathri as Company Secretary & Compliance Officer effective July 16, 2025.
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.