---
title: "Aatmaj Healthcare Ltd (AATMAJ) — Share Price, Financials & Analysis"
symbol: "AATMAJ"
company: "Aatmaj Healthcare Ltd"
canonical: "https://tapetide.com/stocks/AATMAJ"
isin: "INE0OB201016"
nse_symbol: "AATMAJ"
sector: "Healthcare Services"
industry: "Hospitals"
market_cap_cr: 41.02
generated_at: "2026-09-13T18:58:21.967Z"
---

# Aatmaj Healthcare Ltd (AATMAJ)

Canonical page: https://tapetide.com/stocks/AATMAJ

## Company

- **NSE Symbol:** AATMAJ
- **ISIN:** INE0OB201016
- **Sector:** Healthcare Services
- **Industry:** Hospitals
- **Macro Sector:** Healthcare
- **Stock Type:** EQUITY
- **Listed Since:** 2023-06-30
- **Face Value:** ₹5
- **F&O Eligible:** No
- **Website:** jupiterhospitalvadodara.com

## About

Incorporated in 2022, Aatmaj Healthcare Ltd provides multi-speciality and super-specially healthcare services[1]

## Latest Price

- **Price:** ₹18.6
- **Change:** +0.45 (+2.48%)
- **Open:** ₹19.6
- **Day High:** ₹19.6
- **Day Low:** ₹18.6
- **Previous Close:** ₹18.15
- **Volume:** 4000
- **As Of:** 2026-09-11T09:42:55+00:00

## Key Fundamentals

Observed at 2026-09-11T04:44:06.041659Z.

- **Market Cap:** ₹41.02 Cr
- **Classification:** SME
- **P/E (reported):** 56.7
- **EPS (reported):** ₹0.39
- **Book Value:** ₹22.49
- **Price to Book:** 0.81
- **Dividend Yield:** 0.28%
- **ROE:** 1.4%
- **ROCE:** 3.88%
- **Debt to Equity:** 0.41
- **Revenue (yearly):** ₹25.3 Cr
- **Net Income:** ₹0.7 Cr
- **EBITDA:** ₹3.3 Cr
- **52-Week High:** ₹25.5
- **52-Week Low:** ₹16.7
- **RSI (14):** 45.22

## Tapetide Score

- **Score:** 59 / 100
- **Score date:** 2026-09-04
- **Archetype:** Out of Favour
- **What it means:** Financially sound, yet the market is not rewarding it. Cases like this usually need a specific reason the pessimism is misplaced, and patience for that reason to play out.
- **Pillar profile:** Quality: Good · Valuation: Cheap · Momentum: Falling
- **Percentile:** 84.7 (of 4473 scored stocks)
- **Confidence:** 100%
- **Data coverage:** 100%

| Pillar | Score | Weight |
| --- | --- | --- |
| financial health | 48.24 | 9% |
| growth | 63.08 | 9% |
| momentum | 38.52 | 12% |
| ownership | 53.21 | 24% |
| quality | 62.23 | 22% |
| valuation | 69.75 | 24% |

The Tapetide Score is decision-support only, not investment advice.

## Key Insights

### Strengths

- Stock is trading at 0.83 times its book value

### Weaknesses

- Though the company is reporting repeated profits, it is not paying out dividend
- Company has low interest coverage ratio.
- The company has delivered a poor sales growth of 7.78% over past five years.
- Company has a low return on equity of 1.70% over last 3 years.
- Earnings include an other income of Rs.0.93 Cr.
- Company has high debtors of 398 days.

## Growth Rates

| Metric | QoQ | 1Y | 3Y | 5Y |
| --- | --- | --- | --- | --- |
| cash flow growth | — | 111.68% | 188.26% | -25.97% |
| ebitda margin growth | 412.5% | -4.79% | -35.95% | -61.88% |
| net income growth | — | 16.67% | -50% | -29% |
| revenue growth | 31.34% | 21.05% | -2% | 8% |
| roce | — | 4.3% | -22.86% | 28.45% |
| roe | — | 9.37% | 1.49% | -97.71% |

## Financial Statements

### Quarterly Results

All figures in ₹ crore unless the row name says otherwise.

| Item | Sep 2022 | Mar 2023 | Sep 2023 | Mar 2024 | Sep 2024 | Mar 2025 | Sep 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 13.42 | 13.74 | 8.57 | 7.17 | 8.51 | 11.03 | 10.81 | 13.51 |
| Expenses | 8.84 | 8.49 | 4.7 | 8.49 | 8.1 | 9.89 | 9.48 | 12.49 |
| Operating Profit | 4.58 | 5.25 | 3.87 | -1.32 | 0.41 | 1.14 | 1.33 | 1.02 |
| OPM % | 34.13 | 38.21 | 45.16 | -18.41 | 4.82 | 10.34 | 12.3 | 7.55 |
| Other Income | 0.03 | 0 | 0.24 | 0.61 | 0.76 | 0.56 | 0.44 | 0.52 |
| Interest | 0.25 | 0.65 | 0.59 | 0.66 | 0.37 | 0.51 | 0.57 | 0.8 |
| Depreciation | 0.34 | 0.34 | 0.38 | 0.43 | 0.47 | 0.45 | 0.51 | 0.46 |
| Profit before tax | 4.02 | 4.26 | 3.14 | -1.8 | 0.33 | 0.74 | 0.69 | 0.28 |
| Tax % | 27.61 | 29.34 | 27.39 | -22.22 | 6.06 | 55.41 | 26.09 | 28.57 |
| Net Profit | 2.9 | 3.01 | 2.29 | -1.41 | 0.31 | 0.33 | 0.51 | 0.2 |
| EPS in Rs | 5.37 | 1.86 | 1.01 | -0.62 | 0.14 | 0.15 | 0.23 | 0.09 |

### Profit & Loss

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 4.13 | 15.49 | 20.26 | 23.74 | 14.84 | 19.17 | 22.53 |
| Expenses | 3.46 | 10.2 | 12.75 | 13.91 | 12.29 | 17.62 | 20.13 |
| Operating Profit | 0.67 | 5.29 | 7.51 | 9.83 | 2.55 | 1.55 | 2.4 |
| OPM % | 16.22 | 34.15 | 37.07 | 41.41 | 17.18 | 8.09 | 10.65 |
| Other Income | 0.01 | 0 | 0 | 0.03 | 0.85 | 1.32 | 0.93 |
| Interest | 0.5 | 0.44 | 0.24 | 0.9 | 1.25 | 0.88 | 1.38 |
| Depreciation | 0.36 | 0.39 | 0.43 | 0.69 | 0.81 | 0.92 | 0.97 |
| Profit before tax | -0.18 | 4.46 | 6.84 | 8.27 | 1.34 | 1.07 | 0.98 |
| Tax % | 50 | 7.4 | 26.02 | 28.66 | 34.33 | 40.19 | 26.53 |
| Net Profit | -0.27 | 4.12 | 5.05 | 5.91 | 0.88 | 0.64 | 0.71 |
| EPS in Rs | -2 | 30.52 | 37.41 | 3.65 | 0.39 | 0.28 | 0.31 |
| Dividend Payout % | 0 | 0 | 0 | 0 | 12.84 | 0 | 0 |

### Balance Sheet

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Equity Capital | 1.35 | 1.35 | 1.35 | 8.1 | 11.3 | 11.3 | 11.3 |
| Reserves | -2.28 | 1.84 | 6.92 | 6.08 | 38.18 | 38.82 | 39.53 |
| Borrowings | 8.76 | 4.33 | 5.18 | 11.69 | 5.47 | 10.06 | 21.03 |
| Other Liabilities | 1.5 | 2.28 | 4.03 | 5.14 | 2.73 | 3.07 | 4.79 |
| Total Liabilities | 9.33 | 9.8 | 17.48 | 31.01 | 57.68 | 63.25 | 76.65 |
| Fixed Assets | 8.02 | 8.21 | 10.87 | 11.17 | 18.18 | 18 | 29.46 |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 0.53 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Assets | 1.31 | 1.59 | 6.61 | 19.84 | 39.5 | 45.25 | 46.66 |
| Total Assets | 9.33 | 9.8 | 17.48 | 31.01 | 57.68 | 63.25 | 76.65 |

### Cash Flow

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Cash from Operating Activity | -0.54 | 6.11 | 9.55 | 5.33 | -8.01 | 3.34 | 7.07 |
| Cash from Investing Activity | -0.18 | -0.71 | -3.37 | -1.42 | -7.82 | -0.69 | -12.38 |
| Cash from Financing Activity | 0.67 | -4.87 | -6.55 | -3.78 | 26.32 | -1.29 | 4.85 |
| Net Cash Flow | -0.05 | 0.53 | -0.37 | 0.14 | 10.49 | 1.35 | -0.47 |
| Free Cash Flow | -0.72 | 5.54 | 6.45 | 4.35 | -15.83 | 2.6 | -5.32 |
| CFO/OP | -81 | 120 | 104 | 32 | -327 | 215 | 295 |

### Ratios

| Item | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Debtor Days | 86.61 | 13.43 | 91.88 | 274.13 | 507.16 | 468.01 | 397.56 |
| Inventory Days | 64.68 | 18.38 | — | — | — | — | — |
| Days Payable | 494.37 | 148.8 | — | — | — | — | — |
| Cash Conversion Cycle | -343.07 | -116.99 | 91.88 | 274.13 | 507.16 | 468.01 | 397.56 |
| Working Capital Days | -166.15 | -46.18 | -28.1 | 79.18 | 554.63 | 426.69 | 305.71 |
| ROCE % | — | 63.84 | 67.53 | 46.64 | 6.41 | 3.39 | 3.6 |

## Shareholding Pattern

### Quarterly

| Category | Mar 2023 | Jun 2023 | Sep 2023 | Mar 2024 | Sep 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Promoters | 88.89% | 63.72% | 63.72% | 63.72% | 63.72% | 63.74% | 63.74% | 63.76% | 64.33% |
| FIIs | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| DIIs | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Government | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Public | 11.11% | 29.88% | 23.66% | 25.88% | 25.42% | 24.96% | 24.83% | 24.87% | 24.37% |
| Others | 0% | 6.41% | 12.62% | 10.41% | 10.87% | 11.3% | 11.42% | 11.37% | 11.3% |
| No. of Shareholders | 9 | 9 | 1772 | 1537 | 1522 | 1409 | 1389 | 1350 | 1288 |

## Technical Indicators

Derived from daily closing prices and recomputed each trading session; values move with the market.

- **Overall Signal:** Strong Sell
- **Buy / Neutral / Sell:** 2 / 7 / 10

### Moving Averages — summary: **Strong Sell**

| Indicator | Value | Signal |
| --- | --- | --- |
| SMA (10) | 18.63 | Sell |
| EMA (10) | 18.71 | Sell |
| SMA (20) | 18.74 | Sell |
| EMA (20) | 18.75 | Sell |
| SMA (50) | 19.22 | Sell |
| EMA (50) | 19.12 | Sell |
| SMA (100) | 19.7 | Sell |
| EMA (100) | 19.63 | Sell |
| SMA (200) | 20.49 | Sell |
| EMA (200) | 20.18 | Sell |

### Oscillators — summary: **Buy**

| Indicator | Value | Signal |
| --- | --- | --- |
| RSI (14) | 48.42 | Neutral |
| MACD (12,26,9) | -0.11 | Buy |
| Stochastic (14,3,3) | 42.94 | Neutral |
| ADX (14) | 10.98 | Neutral |
| Williams %R (14) | -64.41 | Neutral |
| ATR (14) | 0.79 | High Volatility |
| ROC (12) | 2.76 | Buy |
| Stoch RSI (14) | 40 | Neutral |
| UO (7,14,28) | 45.69 | Neutral |

## Filings & Documents

### Other Documents

| Date | Document |
| --- | --- |
| 8 April 2026 - Unreadable scanned announcement with only a digital signature visible. | [Structural Digital Database 8 April 2026 - Unreadable scanned announcement with only a digital signature visible.](https://nsearchives.nseindia.com/corporate/AHL2023_08042026194242_AHL_SDD_3132026_signedpdfCOMB.pdf) |
| 8 April 2026 - Regulation 74(5) confirmation for dematerialisation transactions ended 31 March 2026. | [Certificate under SEBI (Depositories and Participants) Regulations, 2018 8 April 2026 - Regulation 74(5) confirmation for dematerialisation transactions ended 31 March 2026.](https://nsearchives.nseindia.com/corporate/AHL2023_08042026191536_AHL_Reg74_5_SEBI_DP_Reg3132026_signedpdfCOMB.pdf) |
| 8 April 2026 - Integrated Governance Report filing for FY2025-26; investor complaints remained nil. | [Integrated Filing- Governance 8 April 2026 - Integrated Governance Report filing for FY2025-26; investor complaints remained nil.](https://nsearchives.nseindia.com/corporate/AHL2023_08042026195510_NSE_Intgd_Filing_Governance_3132026_signedpdfCOMB.pdf) |
| 7 February 2026 - Announcement unreadable; contains digital signatures dated Feb 6–7, 2026. | [Updates 7 February 2026 - Announcement unreadable; contains digital signatures dated Feb 6–7, 2026.](https://nsearchives.nseindia.com/corporate/AHL2023_07022026130510_NSE_Intimation_SAST_06_02_2026_AHL_DTK_signed_pdf_combined.pdf) |
| 7 April 2026 - Quarter ended March 31, 2026 investor grievance report showed zero complaints. | [Integrated Filing- Governance 7 April 2026 - Quarter ended March 31, 2026 investor grievance report showed zero complaints.](https://nsearchives.nseindia.com/corporate/AHL2023_07042026184116_AHL_InvGrv_3132026signed.pdf) |
| 5 June 2026 - Aatmaj Healthcare Limited has Submitted to the Exchange a copy of Disclosure under Regulation 31(4) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, … | [Disclosure under SEBI Takeover Regulations 5 June 2026 - Aatmaj Healthcare Limited has Submitted to the Exchange a copy of Disclosure under Regulation 31(4) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, …](https://nsearchives.nseindia.com/corporate/team_bbodade_21052026180307_AATMAJ1.zip) |
| 31 March 2026 - Trading window closed April 1, 2026 until 48 hours after FY2026 results declaration. | [Trading Window 31 March 2026 - Trading window closed April 1, 2026 until 48 hours after FY2026 results declaration.](https://nsearchives.nseindia.com/corporate/AHL2023_31032026185631_NSETWClosure_31032026signed.pdf) |
| 3 Aug - Q1 FY27 revenue ₹8.13 crore, PBTDA ₹1.52 crore; Anand Hospital takeover, new CTVS/IVF centres, PM-JAY empanelment. | [Updates 3 Aug - Q1 FY27 revenue ₹8.13 crore, PBTDA ₹1.52 crore; Anand Hospital takeover, new CTVS/IVF centres, PM-JAY empanelment.](https://nsearchives.nseindia.com/corporate/AHL2023_03082026175607_NSE_Investor_Update_3_8_2026_comb.pdf) |
| 25 June 2026 - Exchange had sought clarification from Aatmaj Healthcare Limited for the quarter ended 30-Sep-2025 with respect to Regulation 33 of the SEBI (LODR) Regulations, 2015. On … | [Reply to Clarification- Financial results 25 June 2026 - Exchange had sought clarification from Aatmaj Healthcare Limited for the quarter ended 30-Sep-2025 with respect to Regulation 33 of the SEBI (LODR) Regulations, 2015. On …](https://nsearchives.nseindia.com/corporate/AHL2023_02022026171407_AHL_UFR_LETTER_13_11_2025_PDF_revised.pdf) |
| 22 May 2026 - Aatmaj Healthcare Limited has informed regarding 'Standalone Audited Financial Results for 31.3.2026'. | [Updates 22 May 2026 - Aatmaj Healthcare Limited has informed regarding 'Standalone Audited Financial Results for 31.3.2026'.](https://nsearchives.nseindia.com/corporate/AHL2023_22052026131956_OutcomeofBM14526AHLcombr.pdf) |

### Annual Reports

| Date | Document |
| --- | --- |
| from nse | [Annual Report 2026 from nse](https://archives.nseindia.com/annual_reports/SME_AR_30463_AATMAJ_2025_2026_A_4858995_20082026181704.pdf) |
| from nse | [Annual Report 2025 from nse](https://archives.nseindia.com/annual_reports/SME_AR_27471_AATMAJ_2024_2025_A_18082025133814.pdf) |
| from nse | [Annual Report 2024 from nse](https://archives.nseindia.com/annual_reports/SME_AR_24918_AATMAJ_2023_2024_13082024124830.pdf) |
| from nse | [Annual Report 2023 from nse](https://archives.nseindia.com/annual_reports/SME_AR_23516_AATMAJ_2022_2023_05092023170752_09052023180015.zip) |
| from nse | [Financial Year 2010 from nse](https://archives.nseindia.com/annual_reports/AR_SINTEX_2009_2010_25082010120000.zip) |
| from bse | [Financial Year 2022 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/ae9acbe3-f015-4580-93e5-1de0be943ac9.pdf) |
| from bse | [Financial Year 2021 from bse](https://www.bseindia.com/bseplus/AnnualReport//70519502742.pdf) |
| from bse | [Financial Year 2020 from bse](https://www.bseindia.com/bseplus/AnnualReport//65460502742.pdf) |
| from bse | [Financial Year 2019 from bse](https://www.bseindia.com/bseplus/AnnualReport//5027420319.pdf) |
| from bse | [Financial Year 2018 from bse](https://www.bseindia.com/bseplus/AnnualReport//5027420318.pdf) |

### Earnings Call Documents

| Date | Document |
| --- | --- |
| Nov 2023 | [Concall - Nov 2023](https://nsearchives.nseindia.com/corporate/AATMAJ_07122023075513_AatmajHealthcareLimitedEarningsTranscriptH1FY2427112023.pdf) |
| Mar 2017 | [Concall - Mar 2017](https://www.bseindia.com/xml-data/corpfiling/CorpAttachment/2017/3/1637eaab-2371-4c73-821f-87f4a296c8b9.pdf) |
| Jan 2017 | [Concall - Jan 2017](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=17424D7D_83DB_4070_947D_05294CE4CE59_144209.pdf) |

---

Provenance differs by section. Financial statements, shareholding and filings are as reported in company disclosures to NSE/BSE/SEBI. Price, volume and 52-week levels are exchange market data. Technical indicators are computed by Tapetide from daily closing prices. The Tapetide Score is Tapetide's own analysis. Analyst ratings are third-party estimates, not company statements. All figures are for research and information only and are not investment advice. Generated 2026-09-13T18:58:21.967Z.