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 ₹ 6,858 Cr.
- Current Price ₹ 682
- High / Low ₹ 770 / 445
- Stock P/E 91.6
- 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 6.13 times its book value
- Though the company is reporting repeated profits, it is not paying out dividend
- 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 Nifty IPO BSE 1000
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 | |
|---|---|---|---|---|---|---|
| 286 | 318 | 437 | 566 | 756 | 999 | |
| 248 | 302 | 389 | 465 | 589 | 774 | |
| Operating Profit | 37 | 16 | 49 | 101 | 167 | 225 |
| OPM % | 13% | 5% | 11% | 18% | 22% | 23% |
| 5 | 10 | 6 | 8 | 14 | 23 | |
| Interest | 7 | 10 | 16 | 20 | 21 | 60 |
| Depreciation | 34 | 42 | 47 | 56 | 72 | 91 |
| Profit before tax | 1 | -27 | -9 | 33 | 87 | 97 |
| Tax % | 31% | -21% | 37% | -6% | 23% | 21% |
| 1 | -21 | -12 | 35 | 67 | 77 | |
| EPS in Rs | 3.40 | -106.93 | -58.69 | 169.82 | 321.87 | 7.66 |
| 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/OP | 49% | 119% | 14% | 80% | 82% | 116% |
Ratios
Consolidated Figures in Rs. Crores / 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
24 Jul - NephroPlus Q1FY27 earnings call scheduled for August 12, 2026 at 10:00 A.M. IST.
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Board Meeting Intimation for The Company Has Informed BSE That The Meeting Of The Board Is Scheduled On 11/08/2026 ,Inter Alia, To Consider And Approve The Unaudited Standalone And Consolidated Financial Results Of The Company For The Quarter Ended June 30, 2026.
24 Jul - Board meeting on August 11, 2026 to approve Q1 FY27 unaudited standalone and consolidated results.
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Announcement under Regulation 30 (LODR)-Newspaper Publication
17 Jul - Newspaper Publication regarding Notice on 17th Annual General Meeting and information on remote e-voting.
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Disclosure Under Regulation 36(1)(B) Of SEBI (LODR) Regulations, 2015 (''SEBI Listing Regulations'')
16 Jul - AGM scheduled for August 12, 2026; annual report and notice dispatched to shareholders.
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Notice Of 17Th Annual General Meeting Of The Company To Be Held On Wednesday, August 12, 2026.
16 Jul - 17th AGM on August 12, 2026; members to vote on financials, director reappointment, ESOP 2026, and promoter incentive.
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.