ARTEMISMED

Artemis Medicare Services Limited

Multi-specialty hospital chain with tertiary care and psychiatric services

Healthcare›Healthcare›Healthcare Services›Hospital

artemishospitals.com(opens the company website in a new tab)
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Key metrics

Price as of 2026-10-16

Stock price
₹306.35
Market cap
4,844 Cr
Stock P/E
42.6
P/B
5.18
Dividend yield
0.1%
ROE (FY26)
11.0%
ROCE (FY26)
14.3%
Operating margin (FY26)
13.0%
Debt / equity (FY26)
0.24
OCF / EBITDA (FY26)
70.1%
OCF / EBITDA (3Y)
81.8%

Full years shown; sign in free for the trailing twelve months. Learn about these metrics →

Price & valuation

Share price and valuation multiples (P/E, P/B and more) over time.

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Compare with peers

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What you need to know

Artemis Medicare Services runs a large tertiary and quaternary care (advanced specialist) hospital in Gurugram, treating domestic patients and a sizeable share of international patients, and is expanding to Raipur and with a new tower at its Gurugram campus.

Company snapshot

16thBy market cap

Ranked among 24 companies in Hospital.

What we see

Positives
  • ✓Debt-to-equity of 0.24x — the company is largely funded by its own money, not borrowed funds.

Statement tables · Consolidated

Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.

Amounts in ₹ Cr · tap + to expand rows

Quarterly results

Quarterly · ₹ Cr · tap + rows to expand

MetricSept 2023Dec 2023Mar 2024Jun 2024Sept 2024Dec 2024Mar 2025Jun 2025Sept 2025Dec 2025Mar 2026Jun 2026
Sales225 Cr219 Cr225 Cr223 Cr241 Cr232 Cr240 Cr255 Cr275 Cr272 Cr279 Cr287 Cr
Operating expenses (approx.)191 Cr186 Cr187 Cr187 Cr199 Cr195 Cr204 Cr214 Cr224 Cr228 Cr228 Cr231 Cr
EBITDA34 Cr33 Cr38 Cr36 Cr42 Cr37 Cr36 Cr41 Cr51 Cr45 Cr52 Cr56 Cr
OPM %15.2%14.9%16.8%16.2%17.5%16.1%15.0%16.2%18.4%16.4%18.5%19.6%
Other income2 Cr2 Cr2 Cr4 Cr7 Cr9 Cr12 Cr7 Cr8 Cr7 Cr8 Cr5 Cr
Interest8 Cr8 Cr9 Cr8 Cr8 Cr8 Cr8 Cr7 Cr7 Cr7 Cr6 Cr6 Cr
Depreciation10 Cr10 Cr11 Cr11 Cr11 Cr11 Cr12 Cr11 Cr12 Cr12 Cr13 Cr13 Cr
Profit before tax19 Cr16 Cr20 Cr22 Cr31 Cr27 Cr29 Cr30 Cr39 Cr30 Cr40 Cr43 Cr
Tax %28.0%29.2%29.3%23.6%27.6%23.2%20.0%28.8%23.8%25.3%24.8%26.2%
Net profit14 Cr12 Cr14 Cr17 Cr22 Cr21 Cr23 Cr21 Cr30 Cr22 Cr30 Cr31 Cr
EPS (₹)₹1.00₹0.85₹1.04₹1.14₹1.42₹1.32₹1.47₹1.35₹1.90₹1.41₹1.90₹1.98

Profit & loss (annual)

Annual · last column is TTM · ₹ Cr · tap + to expand

MetricMar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales547 Cr565 Cr408 Cr555 Cr737 Cr879 Cr937 Cr1,081 CrSign in free for the trailing twelve months
Operating expenses (approx.)483 Cr504 Cr373 Cr487 Cr643 Cr746 Cr785 Cr893 CrSign in free for the trailing twelve months
EBITDA64 Cr61 Cr35 Cr67 Cr94 Cr133 Cr152 Cr188 CrSign in free for the trailing twelve months
OPM %11.7%10.9%8.6%12.2%12.7%15.1%16.2%17.4%Sign in free for the trailing twelve months
Other income4 Cr5 Cr4 Cr4 Cr7 Cr7 Cr33 Cr30 CrSign in free for the trailing twelve months
Interest11 Cr13 Cr13 Cr12 Cr20 Cr31 Cr32 Cr28 CrSign in free for the trailing twelve months
Depreciation20 Cr23 Cr22 Cr22 Cr31 Cr40 Cr45 Cr48 CrSign in free for the trailing twelve months
Profit before tax37 Cr31 Cr8 Cr37 Cr51 Cr68 Cr108 Cr139 CrSign in free for the trailing twelve months
Tax %44.5%36.5%18.2%15.6%24.9%28.2%23.7%25.5%Sign in free for the trailing twelve months
Net profit20 Cr19 Cr6 Cr31 Cr38 Cr49 Cr82 Cr104 CrSign in free for the trailing twelve months
EPS (₹)₹15.48₹14.95₹4.90₹2.40₹2.89₹3.62₹5.37₹6.56Sign in free for the trailing twelve months
Dividend payout %——0.0%0.0%0.0%12.4%7.3%5.9%Sign in free for the trailing twelve months
Sign in free for the trailing twelve months

The latest four quarters added up, next to each full year

Balance sheet

Annual · ₹ Cr · tap + rows to expand

MetricMar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity capital13 Cr13 Cr13 Cr13 Cr13 Cr14 Cr14 Cr16 Cr
Reserves280 Cr300 Cr307 Cr346 Cr390 Cr435 Cr824 Cr919 Cr
Borrowings91 Cr76 Cr108 Cr184 Cr242 Cr254 Cr246 Cr227 Cr
Other liabilities170 Cr196 Cr171 Cr165 Cr256 Cr263 Cr268 Cr261 Cr
Total liabilities554 Cr586 Cr600 Cr710 Cr905 Cr972 Cr1,357 Cr1,429 Cr
Fixed assets (net)335 Cr334 Cr322 Cr445 Cr516 Cr610 Cr655 Cr721 Cr
CWIP49 Cr56 Cr81 Cr62 Cr95 Cr33 Cr39 Cr28 Cr
Investments—0 Cr0 Cr0 Cr0 Cr0 Cr0 Cr0 Cr
Loans & advances—1 Cr0.54 Cr0.79 Cr0.85 Cr2 Cr2 Cr6 Cr
Inventories7 Cr11 Cr10 Cr12 Cr14 Cr10 Cr10 Cr13 Cr
Trade receivables79 Cr77 Cr55 Cr73 Cr93 Cr95 Cr101 Cr120 Cr
Cash & bank9 Cr12 Cr19 Cr16 Cr23 Cr15 Cr42 Cr33 Cr
Other assets75 Cr97 Cr113 Cr101 Cr164 Cr206 Cr509 Cr507 Cr
Total assets554 Cr586 Cr600 Cr710 Cr905 Cr972 Cr1,357 Cr1,429 Cr

Cash flows

Annual · ₹ Cr · tap + rows to expand · last column includes FCF

MetricMar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from operating activity40 Cr56 Cr27 Cr60 Cr127 Cr109 Cr146 Cr132 Cr
Cash from investing-50 Cr-26 Cr-37 Cr-107 Cr-158 Cr-87 Cr-385 Cr-90 Cr
Cash from financing14 Cr-27 Cr18 Cr44 Cr38 Cr-30 Cr267 Cr-50 Cr
Net cash flow5 Cr2 Cr8 Cr-3 Cr7 Cr-8 Cr27 Cr-8 Cr
Free cash flow (OCF − Capex)-17 Cr30 Cr-7 Cr-49 Cr-19 Cr36 Cr52 Cr27 Cr

Ratios

MetricMar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %12.4%11.1%4.8%9.0%10.8%14.1%12.8%14.3%
ROE %7.0%6.3%1.9%8.8%9.2%10.8%9.8%11.0%
Debtor days5249494846393940
Inventory days2028301326171619
Days payable207193064165158162141
Cash conversion cycle-135-11679-3-93-102-107-82
OCF / EBITDA %63.4%91.2%77.4%88.3%135.4%82.0%95.9%70.1%
OCF / EBITDA % (3 years)——77.1%87.1%108.9%100.5%100.8%81.8%
Debt / equity0.310.240.340.510.600.570.290.24
Current ratio0.640.740.920.920.830.982.491.74
Net debt / EBITDA1.291.062.522.492.331.801.351.03