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 ₹ 6,123 Cr.
- Current Price ₹ 609
- High / Low ₹ 782 / 445
- Stock P/E 71.9
- Book Value ₹ 111
- Dividend Yield 0.00 %
- ROCE 15.3 %
- ROE 8.83 %
- Face Value ₹ 2.00
Pros
- Company has reduced debt.
- Company is almost debt free.
- Company has delivered good profit growth of 162% CAGR over last 5 years
Cons
- Stock is trading at 5.47 times its book value
- Though the company is reporting repeated profits, it is not paying out dividend
- Promoter holding has decreased over last quarter: -5.53%
- Company has a low return on equity of 10.2% over last 3 years.
- Company's cost of borrowing seems high
* 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 BSE 1000 Nifty IPO Nifty Smallcap 500
Quarterly 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 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|
| 286 | 318 | 437 | 566 | 756 | 999 | 1,053 | |
| 248 | 302 | 389 | 465 | 589 | 774 | 817 | |
| Operating Profit | 37 | 16 | 49 | 101 | 167 | 225 | 236 |
| OPM % | 13% | 5% | 11% | 18% | 22% | 23% | 22% |
| 5 | 10 | 6 | 8 | 14 | 23 | 26 | |
| Interest | 7 | 10 | 16 | 20 | 21 | 60 | 56 |
| Depreciation | 34 | 42 | 47 | 56 | 72 | 91 | 96 |
| Profit before tax | 1 | -27 | -9 | 33 | 87 | 97 | 110 |
| Tax % | 31% | -21% | 37% | -6% | 23% | 21% | |
| 1 | -21 | -12 | 35 | 67 | 77 | 85 | |
| EPS in Rs | 0.68 | -21.33 | -11.79 | 34.11 | 64.52 | 7.66 | 4.19 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 28% |
| 3 Years: | 32% |
| TTM: | 32% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 162% |
| 3 Years: | 103% |
| TTM: | 12% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | % |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 6% |
| 3 Years: | 10% |
| Last Year: | 9% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Equity Capital | 2 | 2 | 2 | 2 | 2 | 20 |
| Reserves | 245 | 391 | 384 | 409 | 579 | 1,096 |
| 140 | 119 | 200 | 271 | 261 | 80 | |
| 42 | 59 | 81 | 124 | 153 | 271 | |
| Total Liabilities | 428 | 571 | 666 | 806 | 994 | 1,467 |
| 192 | 205 | 239 | 356 | 396 | 517 | |
| CWIP | 2 | 43 | 34 | 1 | 6 | 6 |
| Investments | 0 | 0 | 0 | 0 | 51 | 178 |
| 234 | 322 | 393 | 449 | 542 | 767 | |
| Total Assets | 428 | 571 | 666 | 806 | 994 | 1,467 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| 32 | 14 | 11 | 72 | 135 | 233 | |
| -62 | -130 | -76 | -52 | -125 | -392 | |
| 36 | 121 | 60 | 27 | 54 | 157 | |
| Net Cash Flow | 5 | 6 | -4 | 47 | 65 | -2 |
| Free Cash Flow | -29 | -64 | -62 | -8 | 35 | 113 |
| CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit | 49% | 119% | 14% | 80% | 82% | 116% |
Ratios
Consolidated / View Standalone
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|
| Debtor Days | 101 | 123 | 132 | 131 | 129 | 116 |
| Inventory Days | 65 | 50 | 67 | |||
| Days Payable | 56 | 70 | 63 | |||
| Cash Conversion Cycle | 110 | 103 | 137 | 131 | 129 | 116 |
| Working Capital Days | 26 | 55 | 19 | 56 | 27 | 42 |
| ROCE % | -4% | 1% | 8% | 14% | 15% |
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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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
- Q2FY27 earnings call scheduled for November 4, 2026 at 11:00 A.M. IST.
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Board Meeting Intimation for Consideration And Approval Of The Unaudited Standalone And Consolidated Financial Results Of The Company For The Quarter And Half Year Ended September 30, 2026.
- Board meeting on Nov 3, 2026 to approve Q2 and half-year FY26 results; trading window closed till Nov 5.
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Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
- We are enclosing herewith a certificate under Reg 74(5) of SEBI (DP) Regulations, 2018 for quarter ended 30th September, 2026 received from M/s. KFIN Technologies …
- Disclosures under Reg. 29(2) of SEBI (SAST) Regulations, 2011
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Closure of Trading Window
- Trading window closes from October 1, 2026 until 48 hours after Q2/H1 FY26 results.
Annual reports
-
Annual Report 2026
from bse
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Annual Report 2025
from web
-
Annual Report 2024
from web
-
Annual Report 2023
from web
Concalls
-
Aug 2026Transcript PPT REC
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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.