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Artemis Medicare Services

ARTEMISMED NSE
₹300.25 +14.50 (+5.07%)
P/E
40.52
View as Markdown
MCP
Close 4 Nov 2026 ₹300.25 +57.00 +23.4% 1Y
Start ₹243.25

Key Fundamentals

MicrocapHealthcare ServicesHealthcare

Price-based figures as of · EPS basis: Standalone · TTM

ROCE
14.50%
Debt to Equity
0.28
EPS (TTM)
₹7.41
Book Value
₹58.15
Market Cap
—
P/E (TTM)
40.52
P/B
5.16
ROE
11.90%
Dividend Yield
0.16%
EBITDA
₹218 Cr
52W High
₹378.80
52W Low
₹203.35
Day Range
₹283.65 – ₹304.00
Volume
3,40,657

Peer Comparison

Healthcare › Healthcare Services › Hospitals › Hospital

Artemis Medicare Services peer comparison
Apollo Hospitals
₹8,599.5059.18₹1,22,850 Cr13.040.24%21.20%17.40%₹26,430 Cr₹2,171 Cr
Max Healthcare Institute
₹927.1561.89₹89,301 Cr7.960.22%14.70%14.70%₹8,712 Cr₹1,457 Cr
Manipal Health Enterprises
₹667.2088.96₹86,479 Cr5.340.00%6.64%8.30%₹11,400 Cr₹906 Cr
Aster DM Healthcare
₹719.55117.00₹59,927 Cr14.910.44%11.30%11.60%₹4,876 Cr₹363 Cr
Fortis Healthcare
₹790.6556.96₹59,706 Cr6.030.13%11.20%13.40%₹9,506 Cr₹1,070 Cr
Narayana Hrudayalaya
₹1,931.5048.36₹39,090 Cr7.890.24%20.50%15.50%₹9,072 Cr₹816 Cr
Global Health
₹1,402.0067.76₹37,618 Cr9.520.04%15.20%17.40%₹4,683 Cr₹552 Cr
Artemis Medicare Services (this company)
₹300.2540.52₹4,740 Cr5.160.16%11.90%14.50%₹1,093 Cr₹114 Cr
Median 8 companies₹858.9060.54₹59,817 Cr7.930.19%13.30%14.60%₹8,892 Cr₹861 Cr

Comparable companies in the same industry. Market cap, P/E and P/B use the latest price; other metrics are as reported in filings. A dash means the figure is not published for that company.

Tapetide Score

Data-driven rating, 0–100, as of . How it works →

Overall score

48 Average

Data confidence 100/100

Category scores

Quality
58
Good
Returns, margins, earnings quality 22% weight
Valuation
41
Weak
Cheap vs sector & own history 24% weight
Growth
54
Average
Sales & profit trajectory 9% weight
Financial Health
54
Average
Solvency, leverage, coverage 9% weight
Momentum
48
Average
Trend strength, vol-adjusted 12% weight
Ownership
44
Weak
FII/DII/promoter flows 24% weight

The Tapetide Score is data analysis, not investment advice. Tapetide is not a SEBI-registered research analyst or investment adviser.

Key Insights

Strengths

1
  • Company has delivered good profit growth of 75.6% CAGR over last 5 years

Weaknesses

3
  • Stock is trading at 5.17 times its book value
  • Company has a low return on equity of 12.1% over last 3 years.
  • Promoter holding has decreased over last 3 years: -9.64%

Technical Indicators

Technical signals: verdict and indicator counts
GroupSignalBearishNeutralBullish
OverallBearish856
OscillatorsNeutral252
Moving AveragesStrong Bearish604

Key readings

RSI (14)
46.58
Neutral
MACD (12,26,9)
−8.92
Bullish
SMA (50)
321.30
Bearish
SMA (200)
272.90
Bullish

As of

Analyst Rating

Based on 4 analysts
BUY100%

4 of 4 analysts rate Buy, 0 Hold, 0 Sell.

As of

BUY
4
100%
HOLD
0
0%
SELL
0
0%

Growth Rate

From the financial statements below. 10Y, 5Y, 3Y: compound annual growth to Mar 2026; 1Y: fiscal year to Mar 2026 against Mar 2025; TTM: four quarters to Jun 2026 against Jun 2025.

Revenue

Revenue growth by window
10Y+10.18%
5Y+21.40%
3Y+14.08%
1Y+16.10%
TTM+15.42%

Net profit

Net profit growth by window
10Y+16.69%
5Y+71.22%
3Y+37.06%
1Y+24.10%
TTM+29.55%

Operating cash flow

Operating cash flow growth by window
10Y+20.49%
5Y+36.72%
3Y0.00%
1Y−14.00%
TTM—

TTM: Reported once a year, so there is no trailing-twelve-month figure.

Operating margin· change in pp

Operating margin growth by window
10Y+6.75 pp
5Y+8.74 pp
3Y+4.28 pp
1Y+1.02 pp
TTM+1.74 pp

Revenue by year

Revenue by year, ₹ crore
Mar 2017₹459 Cr
Mar 2018₹503 Cr
Mar 2019₹547 Cr
Mar 2020₹563 Cr
Mar 2021₹402 Cr
Mar 2022₹545 Cr
Mar 2023₹714 Cr
Mar 2024₹845 Cr
Mar 2025₹913 Cr
Mar 2026₹1,060 Cr

Net profit by year

Net profit by year, ₹ crore
Mar 2017₹27.00 Cr
Mar 2018₹27.00 Cr
Mar 2019₹21.00 Cr
Mar 2020₹20.00 Cr
Mar 2021₹7.00 Cr
Mar 2022₹33.00 Cr
Mar 2023₹40.00 Cr
Mar 2024₹49.00 Cr
Mar 2025₹83.00 Cr
Mar 2026₹103 Cr

Analyst Forecasts

Forecast For
FY27 consensus · EBITDA
₹228 Cr +4.5% vs FY26
Reported High Mean Low

AI Analysis — Bull vs Bear

Generated 31 Jul 2026
AI opinion · based on fundamentals
Risk medium

Artemis Medicare Services Ltd is a mid-cap hospital chain with a market cap of ₹4,786 Cr, trading at a PE of 46.2x and PB of 5.54x. The company has delivered strong profit growth of 76% CAGR over 5 years on sales growth of 21% CAGR, though ROE remains modest at 12% and promoter holding has declined by 9.64% over three years.

Bull Case 7
  • Exceptional 5-year compounded profit growth of 76% CAGR indicates strong operating leverage and margin expansion
  • TTM revenue growth of 16% shows continued top-line momentum even on a larger base
  • TTM profit growth of 27% outpaces revenue growth of 16%, suggesting continued margin improvement
  • 5-year compounded sales growth of 21% demonstrates consistent demand for healthcare services
  • 3-year profit CAGR of 40% reflects sustained earnings acceleration beyond a one-time post-COVID bounce
  • Stock has delivered 52% CAGR over 5 years and 26% over 1 year, indicating sustained investor confidence
  • 10-year compounded sales growth of 10% shows a long track record of steady revenue expansion
Bear Case 6
  • PE of 46.2x is elevated relative to the 12% ROE, implying the market is pricing in growth that may not materialize
  • Return on equity of 12% over 3 years is modest for a company commanding such premium valuations
  • Promoter holding has decreased by 9.64% over the last 3 years, raising questions about insider confidence
  • Dividend yield of just 0.15% offers negligible income support to shareholders
  • 10-year profit CAGR of only 17% versus 5-year CAGR of 76% suggests much of the earnings surge is recent and may not be sustainable
  • 10-year ROE average of 10% indicates historically modest capital efficiency despite recent improvement to 12%

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

94d ago

TL;DR: Artemis Medicare is in a stable governance phase with no visible headwinds. The near-unanimous equity raise approval provides growth capital, while ESG disclosures and board refreshment reflect maturing corporate governance. The upcoming Q1 FY27 earnings call on Aug 4 will be the next catalyst to watch for operational performance signals.

Positives 3
  • Fund raise approved overwhelmingly Jul 20

    Shareholders approved raising funds via equity shares with 98.68% votes in favour, signaling strong investor confidence and capital for growth.

  • BRSR filed for FY2025-26 Jul 7

    Artemis Medicare submitted its Business Responsibility and Sustainability Report for FY2025-26, disclosing ESG metrics, energy consumption, and sustainability initiatives.

  • AGM with dividend and governance Jul 7

    22nd AGM scheduled for July 31, 2026 with final dividend of Re. 0.45/share, auditor reappointment, and two new Independent Director appointments.

Neutral 1
  • Q1 FY27 earnings call Aug 4 Jul 29

    Artemis Medicare scheduled Q1 FY27 earnings conference call on August 4, 2026 at 11:00 AM IST, hosted by Anand Rathi Research with MD, CFO, and IR Head participating.

Quarterly Results

₹ Cr
ARTEMISMED quarterly results, ₹ crore
Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Sales
201
217
210
217
217
235
227
235
250
270
267
274
282
306
Expenses
174
184
179
181
181
193
190
199
209
220
223
224
227
252
Operating Profit
27
33
32
36
36
42
37
36
41
50
44
50
55
54
OPM %
14%
15%
15%
17%
16%
18%
16%
15%
16%
19%
16%
18%
20%
18%
Other Income
1
2
2
2
4
8
9
12
7
8
4
8
5
8
Interest
6
7
8
8
8
8
8
8
7
7
7
6
6
7
Depreciation
9
9
10
10
10
11
11
11
11
11
12
12
12
14
PBT
13
19
16
19
22
31
27
29
30
40
30
39
42
41
Tax %
26%
27%
29%
28%
24%
27%
23%
20%
29%
25%
24%
25%
26%
24%
Net Profit
10
14
12
14
17
23
21
23
21
30
23
30
31
31
EPS (₹)
0.73
1.01
0.85
1.02
1.24
1.64
1.51
1.69
1.54
2.16
1.42
1.87
1.96
—

Sep 2026: from the results filed on 30 Oct 2026, ahead of the full statement, so some rows are blank.

Profit & Loss

₹ Cr
ARTEMISMED profit and loss, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
368
402
459
503
547
563
402
545
714
845
913
1,060
1,093
Expenses
325
359
406
442
480
501
367
477
620
717
763
875
893
Operating Profit
43
43
53
60
66
62
35
68
94
128
150
185
200
OPM %
12%
11%
11%
12%
12%
11%
9%
12%
13%
15%
16%
17%
18%
Other Income
3
5
4
3
2
4
7
3
7
7
33
27
25
Interest
12
9
9
9
11
13
12
11
19
30
30
27
26
Depreciation
12
12
15
18
20
22
21
21
29
38
43
46
48
PBT
21
27
32
35
37
32
9
39
53
68
109
139
151
Tax %
12%
21%
16%
24%
44%
36%
20%
16%
25%
28%
24%
25%
—
Net Profit
19
22
27
27
21
20
7
33
40
49
83
103
113
EPS (₹)
0.88
1.03
1.29
1.27
0.98
1.54
0.54
2.46
2.96
3.62
6.07
6.53
7.41
Div. Payout %
0%
0%
0%
0%
0%
0%
0%
0%
15%
12%
7%
7%
—

Balance Sheet

₹ Cr
ARTEMISMED balance sheet, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
21
21
21
21
0
13
13
13
13
14
14
16
Reserves
135
163
183
210
280
301
308
348
393
438
828
923
Borrowings
85
68
94
91
114
108
137
190
268
305
280
260
Other Liabilities
90
93
124
130
160
159
130
145
207
191
221
225
Total Liabilities
331
345
422
452
555
581
589
697
882
948
1,343
1,424
Fixed Assets
239
249
283
309
381
387
372
476
584
699
729
790
CWIP
0
1
27
43
49
56
81
64
95
33
40
33
Investments
0
0
0
0
0
2
4
6
12
15
15
15
Other Assets
91
94
112
100
124
137
132
152
192
200
559
585
Total Assets
331
345
422
452
555
581
589
697
882
948
1,343
1,424

Cash Flow

₹ Cr
ARTEMISMED cash flow, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
53
20
58
72
41
56
27
61
129
108
150
129
Investing
−10
−14
−74
−67
−50
−22
−34
−106
−153
−90
−396
−96
Financing
−35
−24
19
−10
14
−33
12
44
30
−26
274
−41
Net Cash Flow
7
−18
3
−4
5
2
6
−2
7
−8
28
−8
Free Cash Flow
37
4
−17
11
−17
37
2
−45
−5
36
57
25
CFO/EBITDA
127
48
112
121
76
97
71
114
140
95
109
81

Ratios

ARTEMISMED financial ratios, annual
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
39
49
48
40
52
50
48
47
43
36
37
38
Inventory Days
26
21
19
—
—
—
—
—
—
—
—
—
Days Payable
195
189
187
—
—
—
—
—
—
—
—
—
Cash Conversion Cycle
−129
−120
−120
40
52
50
48
47
43
36
37
38
Working Capital Days
−59
−31
−44
−53
−51
−36
−36
−25
−45
−29
−31
−19
ROCE %
14%
15%
16%
15%
14%
11%
4%
10%
11%
14%
15%
15%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

Log in to view Artemis Medicare Services insights

64 extracted metrics across FY15–FY27.

Shareholding Pattern

As of Sep 2026

  • Promoters 58.39%
  • Public 13.41%
  • FIIs 12.46%
  • Others 7.67%
  • Government 6.16%
  • DIIs 1.91%

No promoter shares pledged as of Sep 2026

Change vs previous quarter

Not shown for some quarters: Others. Not available separately for this quarter: the shareholding filing gives Public and Others as one figure, shown under Public, so Others is left blank rather than estimated.

Documents

Frequently Asked Questions about Artemis Medicare Services

What does Artemis Medicare Services Ltd do?
Artemis Medicare Services Ltd (AMSL) was incorporated in 2004, operates a 541-bedded multi-specialty tertiary care hospital in Gurgaon.
Where is Artemis Medicare Services Ltd (ARTEMISMED) listed?
Artemis Medicare Services Ltd trades as ARTEMISMED on the NSE and under code 542919 on the BSE.
Which sector does Artemis Medicare Services Ltd belong to?
Artemis Medicare Services Ltd is classified under the Healthcare Services sector, in the Hospitals industry.
What is the PE ratio of Artemis Medicare Services Ltd?
Artemis Medicare Services Ltd trades at a PE ratio of 40.52 as of 4 Nov 2026, on earnings per share of ₹7.41, against a book value of ₹58.15 per share.
What is the 52-week high and low of Artemis Medicare Services Ltd?
Over the last 52 weeks Artemis Medicare Services Ltd has traded between ₹203.35 and ₹378.8 as of 4 Nov 2026.
Does Artemis Medicare Services Ltd pay dividends?
Artemis Medicare Services Ltd has a dividend yield of 0.16%.
What is the Return on Equity (ROE) of Artemis Medicare Services Ltd?
Artemis Medicare Services Ltd reported a return on equity of 11.90%. Its debt-to-equity ratio is 0.28.

Company Information

Artemis Medicare Services Ltd (AMSL) was incorporated in 2004, operates a 541-bedded multi-specialty tertiary care hospital in Gurgaon.

Website artemishospitals.com
CEO Dr. Devlina Chakravarty DMRD, DNB, M.D., Radiology
Employees 2,077
Listed 23 Jan 2020
Face Value ₹1

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