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Indraprastha Medical Corporation

INDRAMEDCO NSE
₹336.30 +17.90 (+5.62%)
P/E
16.40
View as Markdown
MCP
Close 4 Nov 2026 ₹336.30 −286.50 −46.0% 1Y
Start ₹622.80

Key Fundamentals

MicrocapHealthcare ServicesHealthcare

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

ROCE
35.80%
Debt to Equity
0.05
EPS (TTM)
₹20.51
Book Value
₹88.84
Market Cap
—
P/E (TTM)
16.40
P/B
3.79
ROE
27.40%
Dividend Yield
1.26%
EBITDA
₹296 Cr
52W High
₹640.85
52W Low
₹293.65
Day Range
₹315.25 – ₹343.00
Volume
4,11,775

Peer Comparison

Healthcare › Healthcare Services › Hospitals › Hospital

Indraprastha Medical Corporation 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
Indraprastha Medical Corporation (this company)
₹336.3016.40₹2,953 Cr3.791.26%27.40%35.80%₹1,524 Cr₹188 Cr
Median 8 companies₹858.9060.54₹59,817 Cr7.930.23%14.95%15.10%₹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

59 Good

Data confidence 100/100

Category scores

Quality
65
Good
Returns, margins, earnings quality 22% weight
Valuation
78
Strong
Cheap vs sector & own history 24% weight
Growth
39
Weak
Sales & profit trajectory 9% weight
Financial Health
84
Strong
Solvency, leverage, coverage 9% weight
Momentum
21
Poor
Trend strength, vol-adjusted 12% weight
Ownership
51
Average
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

4
  • Company is almost debt free.
  • Company has delivered good profit growth of 132% CAGR over last 5 years
  • Company has a good return on equity (ROE) track record: 3 Years ROE 28.7%
  • Company has been maintaining a healthy dividend payout of 26.3%

No weaknesses listed

Technical Indicators

Technical signals: verdict and indicator counts
GroupSignalBearishNeutralBullish
OverallBearish847
OscillatorsBullish243
Moving AveragesStrong Bearish604

Key readings

RSI (14)
56.44
Neutral
MACD (12,26,9)
−7.25
Bullish
SMA (50)
342.28
Bearish
SMA (200)
377.85
Bearish

As of

Analyst Rating

Based on 1 analysts
BUY100%

1 of 1 analyst rates Buy, 0 Hold, 0 Sell.

As of

BUY
1
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+6.98%
5Y+19.33%
3Y+10.50%
1Y+9.37%
TTM+10.92%

Net profit

Net profit growth by window
10Y+22.59%
5Y+147.03%
3Y+28.86%
1Y+14.29%
TTM+12.57%

Operating cash flow

Operating cash flow growth by window
10Y+10.42%
5Y+43.97%
3Y+5.06%
1Y+6.37%
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+7.40 pp
5Y+11.31 pp
3Y+4.17 pp
1Y−0.07 pp
TTM−0.22 pp

Revenue by year

Revenue by year, ₹ crore
Mar 2017₹766 Cr
Mar 2018₹753 Cr
Mar 2019₹788 Cr
Mar 2020₹831 Cr
Mar 2021₹613 Cr
Mar 2022₹888 Cr
Mar 2023₹1,099 Cr
Mar 2024₹1,245 Cr
Mar 2025₹1,356 Cr
Mar 2026₹1,483 Cr

Net profit by year

Net profit by year, ₹ crore
Mar 2017₹26.00 Cr
Mar 2018₹21.00 Cr
Mar 2019₹28.00 Cr
Mar 2020₹44.00 Cr
Mar 2021₹2.00 Cr
Mar 2022₹59.00 Cr
Mar 2023₹86.00 Cr
Mar 2024₹124 Cr
Mar 2025₹161 Cr
Mar 2026₹184 Cr

Analyst Forecasts

Forecast For
FY27 consensus · EBITDA
₹295 Cr −0.3% vs FY26
Reported High Mean Low

AI Analysis — Bull vs Bear

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

Indraprastha Medical Corporation Ltd operates the 710-bed Indraprastha Apollo Hospital in Delhi and trades at a P/E of 19.4x with a market cap of Rs 3,518 Cr. The company has delivered 132% profit CAGR over 5 years and maintains a 3-year ROE of ~29%, but the stock has declined ~23-25% over the past year despite continued revenue and profit growth.

Bull Case 8
  • Virtually debt-free balance sheet provides financial resilience and flexibility for expansion without interest burden
  • Exceptional 5-year profit CAGR of 132% demonstrates strong operating leverage as revenue scaled from Rs 888 Cr (FY22) to Rs 1,483 Cr (FY26)
  • Consistent ROE of 27-29% over 3-5 years indicates efficient capital deployment well above cost of equity
  • Operating profit margins have expanded from 12.8% in FY22 to 17.7% in FY26, showing sustained margin improvement
  • Revenue grew 9% TTM and 11% CAGR over 3 years, indicating steady top-line momentum in a single-hospital model
  • Healthy dividend payout ratio of 26.3% with 1.16% yield signals cash generation discipline and shareholder return focus
  • 710-bed flagship hospital in prime Delhi location benefits from medical tourism flows and high-acuity case mix
  • EPS has grown from Rs 6.39 (FY20) to Rs 20.03 (FY24), a 3x increase in four years
Bear Case 8
  • Stock has declined ~23-25% over the past year, significantly underperforming the broader market and healthcare peers
  • Single-asset concentration risk — entire business depends on one 710-bed hospital in Delhi with no geographic diversification
  • TTM revenue growth has decelerated to 9% from 24% (FY23) and 45% (FY22), suggesting growth normalization post-COVID tailwinds
  • P/B ratio of 4.81x is elevated for a company with limited physical expansion runway in its current structure
  • Small-cap at Rs 3,518 Cr market cap with limited institutional coverage and lower liquidity compared to larger hospital chains
  • Government lease obligation requires one-third of 600 beds for free treatment, creating a structural margin ceiling
  • 10-year revenue CAGR of only 7% highlights that long-term top-line growth has been modest outside the post-COVID recovery period
  • Capacity constrained at 710 beds with limited scope for bed additions at the existing Delhi campus, capping organic growth

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

Quarterly Results

₹ Cr
INDRAMEDCO quarterly results, ₹ crore
Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Sales
307
317
306
315
348
350
325
334
365
381
372
365
406
413
Expenses
259
267
259
266
281
286
273
272
292
310
310
304
326
335
Operating Profit
47
50
47
48
67
64
52
61
73
71
62
61
80
77
OPM %
15%
16%
15%
15%
19%
18%
16%
18%
20%
19%
17%
17%
20%
19%
Other Income
4
4
4
5
5
6
5
6
7
7
7
7
8
9
Interest
1
1
1
2
2
2
2
1
2
2
1
1
2
2
Depreciation
10
10
10
10
11
11
11
11
10
11
11
11
12
12
PBT
40
44
41
42
60
57
45
55
68
66
56
55
75
72
Tax %
24%
25%
28%
25%
25%
26%
26%
26%
25%
25%
27%
24%
25%
26%
Net Profit
30
33
29
31
45
42
33
41
51
49
41
42
56
54
EPS (₹)
3.33
3.58
3.21
3.4
4.88
4.63
3.58
4.47
5.61
5.4
4.47
4.55
6.09
—

Sep 2026: from the results filed on 29 Oct 2026, ahead of the full statement, so some rows are blank.

Profit & Loss

₹ Cr
INDRAMEDCO profit and loss, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
714
755
766
753
788
831
613
888
1,099
1,245
1,356
1,483
1,524
Expenses
630
675
686
678
706
743
572
768
947
1,050
1,112
1,215
1,250
Operating Profit
85
80
79
74
82
87
41
120
152
195
245
267
274
OPM %
12%
11%
10%
10%
10%
11%
7%
14%
14%
16%
18%
18%
18%
Other Income
1
1
0
−1
−1
0
0
−3
9
16
22.65
28.75
30
Interest
8
7
8
9
7
6
3
3
4
4
6
6
6
Depreciation
28
35
31
31
30
33
33
35
39
40
44
44
45
PBT
50
39
41
34
45
48
4
79
117
166
216
246
253
Tax %
34%
37%
36%
38%
36%
9%
46%
26%
26%
25%
26%
25%
—
Net Profit
32
24
26
21
28
44
2
59
86
124
161
184
188
EPS (₹)
3.54
2.66
2.86
2.3
3.1
4.76
0.25
6.39
9.4
13.52
17.56
20.03
20.51
Div. Payout %
51%
68%
63%
65%
52%
0%
0%
39%
32%
33%
26%
20%
—

Balance Sheet

₹ Cr
INDRAMEDCO balance sheet, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
92
92
92
92
92
92
92
92
92
92
92
92
Reserves
103
132
139
141
152
176
181
234
288
386
505
649
Borrowings
50
52
67
66
21
4
3
5
2
34
33
37
Other Liabilities
196
185
160
134
157
177
157
131
173
212
222
214
Total Liabilities
442
460
458
432
422
449
432
462
555
723
852
991
Fixed Assets
286
301
296
294
280
303
283
277
275
347
328
365
CWIP
3
3
0
0
1
0
3
0
3
0
33
3
Investments
0
0
0
0
0
0
0
0
0
0
0
0
Other Assets
153
157
163
138
141
146
145
185
278
376
491
624
Total Assets
442
460
458
432
422
449
432
462
555
723
852
991

Cash Flow

₹ Cr
INDRAMEDCO cash flow, annual, ₹ crore
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
64
62
28
48
75
86
27
94
144
200
157
167
Investing
−29
−33
−22
−30
−17
−40
−19
−74
−108
−158
−111
−178
Financing
−35
−30
−5
−17
−44
−43
−3
−3
−26
−32
−46
−46
Net Cash Flow
0
0
0
1
14
4
5
17
11
9
0
−57
Free Cash Flow
35
29
5
17
58
46
6
65
100
131
120
108
CFO/EBITDA
98
104
57
82
110
113
88
95
102
127
89
88

Ratios

INDRAMEDCO financial ratios, annual
Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
40
41
47
41
35
35
40
18
23
17
20
28
Cash Conversion Cycle
40
41
47
41
35
35
40
18
23
17
20
28
Working Capital Days
−35
−22
−17
−7
−5
−10
−1
−2
−12
−24
−19
−4
ROCE %
23%
18%
17%
15%
19%
21%
3%
29%
34%
38%
39%
36%

Insights

Beta

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

Log in to view Indraprastha Medical Corporation insights

60 extracted metrics across FY10–FY27.

Shareholding Pattern

As of Sep 2026

  • Promoters 51.00%
  • Public 31.92%
  • Others 12.92%
  • FIIs 2.39%
  • DIIs 1.77%

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 Indraprastha Medical Corporation

What does Indraprastha Medical Corporation Ltd do?
Incorporated in 1988 as a JV between Apollo Hospitals Enterprise Ltd. (AHEL) and the Delhi Government, Indraprastha Medical Corporation Ltd. is a super speciality tertiary care hospital in New Delhi. The Co. currently has 52 speciality departments.
Where is Indraprastha Medical Corporation Ltd (INDRAMEDCO) listed?
Indraprastha Medical Corporation Ltd trades as INDRAMEDCO on the NSE and under code 532150 on the BSE.
Which sector does Indraprastha Medical Corporation Ltd belong to?
Indraprastha Medical Corporation Ltd is classified under the Healthcare Services sector, in the Hospitals industry.
What is the PE ratio of Indraprastha Medical Corporation Ltd?
Indraprastha Medical Corporation Ltd trades at a PE ratio of 16.40 as of 4 Nov 2026, on earnings per share of ₹20.51, against a book value of ₹88.84 per share.
What is the 52-week high and low of Indraprastha Medical Corporation Ltd?
Over the last 52 weeks Indraprastha Medical Corporation Ltd has traded between ₹293.65 and ₹640.85 as of 4 Nov 2026.
Does Indraprastha Medical Corporation Ltd pay dividends?
Indraprastha Medical Corporation Ltd has a dividend yield of 1.26%.
What is the Return on Equity (ROE) of Indraprastha Medical Corporation Ltd?
Indraprastha Medical Corporation Ltd reported a return on equity of 27.40%. Its debt-to-equity ratio is 0.05.

Company Information

Incorporated in 1988 as a JV between Apollo Hospitals Enterprise Ltd. (AHEL) and the Delhi Government, Indraprastha Medical Corporation Ltd. is a super speciality tertiary care hospital in New Delhi. The Co. currently has 52 speciality departments.

Website delhi.apollohospitals.com
Listed 17 Apr 1997
Face Value ₹10

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