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Swing Capital

Artemis Medicare Services Ltd

NSE: ARTEMISMED BSE: 542919Healthcare

Artemis Medicare Services Ltd (AMSL) was incorporated in 2004, operates a 541-bedded multi-specialty tertiary care hospital in Gurgaon. [1][2]

₹274
52W: ₹203 — ₹298
PE 41 · Book ₹59.3 · +362% vs book
Market Cap₹4,337 Cr
Stock P/E41Price to Earnings
ROCE14.5%Return on Capital
ROE11.9%Return on Equity
Div. Yield0.16%Face Value ₹1

Strengths

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

Weaknesses

  • −Stock is trading at 4.64 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: -10.5%

Shareholding Pattern

Promoters58.39%
FIIs12.19%
DIIs2.89%
Public20.37%
CategoryJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters67.51%67.17%▼0.367.17%67.17%66.53%▼0.666.53%58.38%▼8.158.39%▲0.0
FIIs0.16%0.21%▲0.00.65%▲0.40.31%▼0.30.24%▼0.10.37%▲0.112.47%▲12.112.19%▼0.3
DIIs3.45%3.6%▲0.14.51%▲0.95.04%▲0.54.76%▼0.34.27%▼0.52.91%▼1.42.89%▼0.0
Public21.76%21.93%▲0.220.59%▼1.320.39%▼0.221.45%▲1.121.81%▲0.420.07%▼1.720.37%▲0.3

Financial Statements

MetricDec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales210217217235227235250270267274
Expenses179181181193190199209220223224
Operating Profit32363642373641504450
OPM %15%17%16%18%16%15%16%19%16%18%
Net Profit12141723212321302330
EPS ₹0.851.021.241.641.511.691.542.161.421.87

AI Insights

Revenue Trend

Mar 2026 revenue at ₹1,060Cr, up 16.1% YoY. OPM at 17%.

Debt Position

Borrowings at ₹260Cr. Debt-to-equity ratio: 0.28x. Healthy balance sheet.

Capex Cycle

CWIP at ₹32Cr (4% of fixed assets). Moderate ongoing capital expenditure.

Institutional Flow

DIIs: 2.89% (+1.48pp change). FIIs: 12.19% (+12.12pp change). Promoters hold 58.39%.

Margin & Efficiency

ROCE improving from 14% (Mar 2015) to 15% (Mar 2026). Working capital days: -19.

Valuation

PE 41x with 14.5% ROCE. Price is 362% above book value of ₹59.3. Dividend yield: 0.16%.

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