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Healthcare Global Enterprises

HCG NSE
₹621.35 +9.70 (+1.59%)
P/E
406.11
View as Markdown
MCP
Close 4 Nov 2026 ₹621.35 −129.31 −17.2% 1Y
Start ₹750.66

Key Fundamentals

MicrocapHealthcare ServicesHealthcare

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

ROCE
8.30%
Debt to Equity
1.30
EPS (TTM)
₹1.53
Book Value
₹89.21
Market Cap
—
P/E (TTM)
406.11
P/B
6.97
ROE
2.54%
Dividend Yield
0.00%
EBITDA
₹491 Cr
52W High
₹775.00
52W Low
₹513.30
Day Range
₹609.50 – ₹625.90
Volume
1,15,461

Peer Comparison

Healthcare › Healthcare Services › Hospitals › Hospital

Healthcare Global Enterprises 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
Healthcare Global Enterprises (this company)
₹621.35406.11₹9,172 Cr6.970.00%2.54%8.30%₹2,627 Cr₹33 Cr
Median 8 companies₹858.9064.83₹59,817 Cr7.930.18%13.00%14.05%₹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

37 Weak

Data confidence 100/100

insider_selling

Category scores

Quality
48
Average
Returns, margins, earnings quality 22% weight
Valuation
21
Poor
Cheap vs sector & own history 24% weight
Growth
44
Weak
Sales & profit trajectory 9% weight
Financial Health
11
Poor
Solvency, leverage, coverage 9% weight
Momentum
34
Poor
Trend strength, vol-adjusted 12% weight
Ownership
65
Good
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

No strengths listed

Weaknesses

5
  • Stock is trading at 6.98 times its book value
  • Though the company is reporting repeated profits, it is not paying out dividend
  • Company has low interest coverage ratio.
  • Company has a low return on equity of 4.24% over last 3 years.
  • Promoter holding has decreased over last 3 years: -7.09%

Technical Indicators

Technical signals: verdict and indicator counts
GroupSignalBearishNeutralBullish
OverallNeutral757
OscillatorsBullish153
Moving AveragesStrong Bearish604

Key readings

RSI (14)
53.25
Neutral
MACD (12,26,9)
−15.70
Bullish
SMA (50)
654.09
Bearish
SMA (200)
624.83
Bearish

As of

Analyst Rating

Based on 7 analysts
BUY100%

7 of 7 analysts rate Buy, 0 Hold, 0 Sell.

As of

BUY
7
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+15.83%
5Y+20.26%
3Y+14.49%
1Y+14.43%
TTM+13.67%

Net profit

Net profit growth by window
10Y+27.66%
5YTurned to profit
3Y+8.51%
1Y−53.06%
TTM−21.43%

Operating cash flow

Operating cash flow growth by window
10Y+16.87%
5Y+23.46%
3Y+11.25%
1Y+9.46%
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+3.54 pp
5Y+6.00 pp
3Y+0.53 pp
1Y+0.78 pp
TTM+0.79 pp

Revenue by year

Revenue by year, ₹ crore
Mar 2017₹700 Cr
Mar 2018₹829 Cr
Mar 2019₹976 Cr
Mar 2020₹1,092 Cr
Mar 2021₹1,009 Cr
Mar 2022₹1,395 Cr
Mar 2023₹1,691 Cr
Mar 2024₹1,908 Cr
Mar 2025₹2,218 Cr
Mar 2026₹2,538 Cr

Net profit by year

Net profit by year, ₹ crore
Mar 2017₹23.00 Cr
Mar 2018₹17.00 Cr
Mar 2019−₹31.00 Cr
Mar 2020−₹125 Cr
Mar 2021−₹221 Cr
Mar 2022₹39.00 Cr
Mar 2023₹18.00 Cr
Mar 2024₹41.00 Cr
Mar 2025₹49.00 Cr
Mar 2026₹23.00 Cr

Analyst Forecasts

Forecast For
Sep 26 consensus · EBITDA
₹135 Cr +1.4% vs Jun 26
Reported High Mean Low

AI Analysis — Bull vs Bear

Generated 6 Jul 2026
AI opinion · based on fundamentals
Risk high

Healthcare Global Enterprises Ltd operates in India's oncology-focused hospital segment with a market cap of Rs 9,734.5 crore and trades at a PE of 430.2x. The company has delivered consistent 15-16% revenue CAGR over 3-10 year periods but profitability remains under pressure with TTM profit declining 36% and ROE averaging just 4% over 3-5 years.

Bull Case 7
  • Consistent revenue growth with compounded sales CAGR of 15% over 3 years and 20% over 5 years, indicating strong demand for oncology services
  • TTM revenue growth remains healthy at 15%, showing continued momentum in top-line expansion
  • Long-term profit CAGR of 39% over 10 years demonstrates the company's ability to scale earnings over extended periods
  • Stock CAGR of 24% over 5 years and 26% over 3 years reflects sustained market confidence in the business model
  • 5-year compounded profit growth of 18% shows the company has historically been able to convert revenue growth into earnings
  • Operates in India's underpenetrated oncology care segment where cancer incidence is rising, supporting the 16% 10-year sales CAGR
  • Market cap of Rs 9,734.5 crore provides scale and institutional visibility in the specialty healthcare space
Bear Case 8
  • PE ratio of 430.2x is extremely elevated, implying the stock prices in massive future growth that may not materialize
  • TTM compounded profit has declined 36%, signaling a sharp deterioration in near-term earnings
  • 3-year ROE of just 4% and last year ROE of 3% indicate poor capital efficiency for a company trading at 7.38x book value
  • Price-to-book ratio of 7.38x is very high relative to the low single-digit ROE, suggesting a valuation disconnect
  • Promoter holding has decreased by 7.16% over last 3 years, raising questions about insider confidence
  • Zero dividend yield despite reporting profits indicates no capital return to shareholders
  • Low interest coverage ratio suggests the debt burden is straining operating profits
  • 10-year ROE averages negative 1%, showing the company has struggled to generate adequate shareholder returns over a full cycle

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

AI News Digest

121d ago

TL;DR: Recent news flow for HCG is largely corporate housekeeping with no material headwinds or strong positives. The BACC stake sale brings in ₹37.64 crore and the significant promoter encumbrance release is mildly reassuring on governance. With no operational or earnings updates in this batch, the near-term outlook depends on upcoming quarterly results and broader oncology sector demand trends.

Neutral 4
  • Stake sale in BACC Healthcare Jun 29

    HCG sold 99.999% stake in BACC Health Care Private Limited for ₹37.64 crore, with initial consideration of ₹28.23 crore received on June 29, 2026.

  • Promoter encumbrance release on 7.16Cr shares Jun 15

    Hector Asia Holdings II Pte. Ltd. released a non-disposal undertaking on 7,16,77,991 shares, reducing promoter encumbrance overhang.

  • No new encumbrance in FY26 Jun 16

    Promoter Dr. B.S. Ajaikumar declared no new encumbrance on shares in FY26; total encumbered shares stand at 49,59,539 (3.32% of paid-up capital).

Quarterly Results

₹ Cr
HCG quarterly results, ₹ crore
Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales
461
487
470
495
526
554
558
585
613
647
633
652
695
Expenses
386
402
391
403
435
451
470
480
505
524
524
527
573
Operating Profit
74
85
79
92
91
102
88
106
108
123
110
125
122
OPM %
16%
17%
17%
19%
17%
18%
16%
18%
18%
19%
17%
19%
18%
Other Income
2.42
3
6
9
9
11
6
10
6.83
3
−10
−18
12.13
Interest
26
27
29
27
34
36
41
44
45
44
45
43
40
Depreciation
41
43
44
46
47
50
57
58
58
63
61
63
70
PBT
10.17
18
11
28
19
28
−3
14
11.24
20
−6
1
24.1
Tax %
65%
40%
69%
17%
28%
25%
−335%
50%
50%
−4%
30%
−223%
34%
Net Profit
4
11
3
23
14
21
8
7
6
21
−8
4
16
EPS (₹)
0.52
0.92
0.39
1.44
0.82
1.22
0.47
0.5
0.32
1.09
−0.63
0.15
0.92

Profit & Loss

₹ Cr
HCG profit and loss, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
519
584
700
829
976
1,092
1,009
1,395
1,691
1,908
2,218
2,538
2,627
Expenses
443
499
595
713
864
936
887
1,161
1,394
1,581
1,835
2,080
2,147
Operating Profit
76
85
105
116
112
157
122
234
297
327
384
459
480
OPM %
15%
15%
15%
14%
11%
14%
12%
17%
18%
17%
17%
18%
18%
Other Income
0
−2
10
25
10
10
−72
110
15
24
39
−11
−13
Interest
34
38
23
42
70
138
119
98
104
109
155
177
171
Depreciation
39
44
57
71
85
148
159
158
163
174
211
244
257
PBT
3
0
35
27
−33
−119
−229
88
45
68
56.19
27
40
Tax %
−56%
−730%
34%
38%
−7%
5%
−3%
56%
61%
39%
14%
15%
—
Net Profit
5
2
23
17
−31
−125
−221
39
18
41
49
23
33
EPS (₹)
0.11
−0.16
2.44
2.23
−2.66
−11.36
−14.58
3.65
1.99
3.27
3.01
0.92
1.53
Div. Payout %
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
0%
—

Balance Sheet

₹ Cr
HCG balance sheet, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
70
85
86
87
88
89
125
139
139
139
139
149
Reserves
210
341
347
428
389
293
572
731
721
686
783
1,183
Borrowings
349
324
420
464
658
1,347
977
915
901
1,274
1,837
1,735
Other Liabilities
147
294
372
461
515
518
357
433
549
601
780
853
Total Liabilities
776
1,043
1,225
1,440
1,650
2,246
2,031
2,218
2,311
2,701
3,540
3,920
Fixed Assets
528
583
685
828
970
1,646
1,382
1,547
1,553
1,758
2,442
2,462
CWIP
42
121
148
174
153
46
30
22
18
83
25
19
Investments
0
64
11
53
49
34
26
9
10
10
11
14
Other Assets
205
275
381
385
478
520
593
641
730
850
1,062
1,426
Total Assets
776
1,043
1,225
1,440
1,650
2,246
2,031
2,218
2,311
2,701
3,540
3,920

Cash Flow

₹ Cr
HCG cash flow, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
60
73
91
98
98
130
121
220
252
285
317
347
Investing
−79
−204
−210
−283
−238
−101
−171
125
−133
−226
−488
−177
Financing
22
216
89
161
84
−58
112
−155
−140
−64
−42
241
Net Cash Flow
2
85
−29
−24
−56
−30
62
190
−22
−5
−213
410
Free Cash Flow
−20
−137
−101
−158
−90
23
85
150
126
101
110
59
CFO/OP
87
99
93
88
121
100
68
104
92
101
91
83

Ratios

HCG financial ratios, annual
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
45
43
54
57
59
62
67
57
65
56
66
60
Inventory Days
36
32
40
46
45
35
32
31
33
33
33
32
Days Payable
208
264
272
274
303
234
221
199
214
216
210
185
Cash Conversion Cycle
−127
−188
−178
−171
−200
−136
−121
−112
−116
−127
−111
−93
Working Capital Days
−65
−96
−112
−74
−110
−102
−26
−43
−40
−70
−91
−61
ROCE %
7%
6%
7%
6%
3%
1%
−1%
5%
8%
9%
9%
8%

Insights

Beta

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

Log in to view Healthcare Global Enterprises insights

69 extracted metrics across FY06–FY27.

Shareholding Pattern

As of Sep 2026

  • Promoters 64.21%
  • DIIs 20.77%
  • Public 9.70%
  • FIIs 2.69%
  • Others 2.63%

5.17% of promoter holding 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 Healthcare Global Enterprises

What does Healthcare Global Enterprises Ltd do?
Healthcare Global Enterprises Ltd is engaged in setting up and managing hospitals and medical diagnostic services including scientific testing and consultancy services in the pharmaceutical and medical sector.
Where is Healthcare Global Enterprises Ltd (HCG) listed?
Healthcare Global Enterprises Ltd trades as HCG on the NSE and under code 539787 on the BSE.
Which sector does Healthcare Global Enterprises Ltd belong to?
Healthcare Global Enterprises Ltd is classified under the Healthcare Services sector, in the Hospitals industry.
What is the PE ratio of Healthcare Global Enterprises Ltd?
Healthcare Global Enterprises Ltd trades at a PE ratio of 406.11 as of 4 Nov 2026, on earnings per share of ₹1.53, against a book value of ₹89.21 per share.
What is the 52-week high and low of Healthcare Global Enterprises Ltd?
Over the last 52 weeks Healthcare Global Enterprises Ltd has traded between ₹513.3 and ₹775 as of 4 Nov 2026.
What is the Return on Equity (ROE) of Healthcare Global Enterprises Ltd?
Healthcare Global Enterprises Ltd reported a return on equity of 2.54%. Its debt-to-equity ratio is 1.30.

Company Information

Healthcare Global Enterprises Ltd is engaged in setting up and managing hospitals and medical diagnostic services including scientific testing and consultancy services in the pharmaceutical and medical sector.

Website hcgoncology.com
CEO Manisha Kumar
Employees 6,736
Listed 30 Mar 2016
Face Value ₹10

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