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Swing Capital

Medplus Health Services Ltd

NSE: MEDPLUS BSE: 543427

Medplus Health Services Ltd (MEDPLUS) is a Diversified company listed on NSE: MEDPLUS | BSE: 543427. With a market cap of ₹11,129 Cr and ROCE of 4.58%, ROE of 3.32%, it operates in the Indian Diversified sector.

₹927
52W: ₹732 — ₹1052
PE 186 · Book ₹106 · +775% vs book
Market Cap₹11,129 Cr
Stock P/E186Price to Earnings
ROCE4.58%Return on Capital
ROE3.32%Return on Equity
Div. Yield0%Face Value ₹2

Strengths

  • +Company is almost debt free.
  • +Company has delivered good profit growth of 29.4% CAGR over last 5 years
  • +Company's median sales growth is 49.8% of last 10 years

Weaknesses

  • −Stock is trading at 8.84 times its book value
  • −Though the company is reporting repeated profits, it is not paying out dividend
  • −Company has a low return on equity of 1.57% over last 3 years.
  • −Promoters have pledged 60.7% of their holding.
  • −Working capital days have increased from 53.4 days to 76.5 days

Shareholding Pattern

Promoters40.22%
FIIs15.53%
DIIs27.82%
Public16.41%
CategoryJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters40.39%40.39%40.39%40.33%▼0.140.32%▼0.040.29%▼0.040.29%40.22%▼0.1
FIIs14.85%14.72%▼0.115.23%▲0.515.61%▲0.416.43%▲0.816.53%▲0.116.83%▲0.315.53%▼1.3
DIIs22.17%27.98%▲5.825.66%▼2.326.19%▲0.526.03%▼0.226.51%▲0.526.58%▲0.127.82%▲1.2
Public22.51%16.85%▼5.718.68%▲1.817.82%▼0.917.18%▼0.616.6%▼0.616.27%▼0.316.41%▲0.1

Financial Statements

MetricSep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales99148148178156177202184206223
Expenses92137135160139158178160179194
Operating Profit6111318171924242729
OPM %6%7%9%10%11%11%12%13%13%13%
Net Profit031098914141617
EPS ₹-0.010.270.820.770.650.781.171.131.31.38

AI Insights

Revenue Trend

TTM revenue at ₹814Cr, up 14.2% YoY. OPM at 13%.

Debt Position

Borrowings at ₹101Cr. Debt-to-equity ratio: 0.08x. Healthy balance sheet.

Capex Cycle

CWIP at ₹1Cr (1% of fixed assets). Moderate ongoing capital expenditure.

Institutional Flow

DIIs: 27.82% (-0.31pp change). FIIs: 15.53% (+10.66pp change). Promoters hold 40.22%.

Margin & Efficiency

ROCE improving from 0% (Mar 2015) to 5% (Mar 2025). Working capital days: 76.

Valuation

PE 186x with 4.58% ROCE. Price is 775% above book value of ₹106. Dividend yield: 0%.

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