524743
Fischer Medical share price & financials
- Price
- ₹35.94
- Market cap
- ₹2.5k Cr
- Sector
- Healthcare
- Calls analysed
- 1
Fischer Medical Q2 FY26
Revenue ₹86 cr (+118% YoY); EBITDA ₹19 cr (+2471% YoY); EBITDA Margin 21%. Q2 FY26 Revenue of INR 86 crores, up 118% YoY.
Read the full call →What Fischer Medical does
Fischer Medical Ventures designs and indigenously manufactures MRI systems (through subsidiary Time Medical International Ventures) and is expanding into CT scanners and X-ray devices, earning through equipment sales to hospitals, diagnostic chains and distributors in India and export markets. Its Preventive Healthcare arm, FlynnCare Health Innovation, sells AI-enabled health kiosks and cloud/tele-diagnosis platforms (ATLAS, MIDAS, Clinics 2.0, LIVE Dx) that screen for chronic disease at scale in schools, rural health units and community programs. The company also holds minority/distribution stakes in adjacent health-tech ventures (voice-AI mental-health diagnostics, regenerative skin technology, brain-imaging devices, AI drug discovery/nutraceuticals). It operates via a group of India, Singapore and Malaysia subsidiaries supporting domestic and Southeast Asia/MENA expansion.
Segments
- Diagnostic Imaging (Radiology)
- Preventive Healthcare
- MRI manufacturing capacity (single shift)
- 80 machines/year
- MRI manufacturing capacity (scalable, two shifts)
- 150-160 machines/year
- MRI product line-up
- 5 models (PICA, MICA, QUIN, NEONA, NOVA)
- Manufacturing facility
- Andhra Pradesh MedTech Zone (AMTZ), Visakhapatnam — first Indian company CDSCO-recognised for indigenous MRI manufacturing
- Health-kiosk screening coverage
- 60+ clinical vital-sign parameters per kiosk session
- Corporate footprint
- Subsidiaries/JVs in India, Singapore (FMV International Ventures, FMV Healthcare) and Malaysia
Guidance record · Q2 FY26
what the last two calls moved 6 tracked 0 delivered 0 missed 6 open- Market Share (Domestic & Asian MRI) open said Q2 FY26 Promised: 15% to 20% market share domestically and in the Asian market Q2 FY26: Target set by management based on current order book and demand.
All 6 tracked — every revision, and every one management stopped mentioning.
Open the guidance ledgerQuarterly results
Q1 FY27: revenue up 249.5%, net profit down 22.0% against the same quarter last year.
| Line item | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 40 | 12 | 49 | 23 | 86 +118% | 101 +760% | 98 +98% | 82 +249% |
| EBITDA | 1 | 0 | 3 | 4 | 16 +3144% | 22 +5730% | -4 −250% | 11 +182% |
| Net profit | 0 | -0 | 1 | 5 | 14 +4693% | 19 +6731% | -12 −1050% | 4 −22% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Performance −96.9% 1Y
1Y: ₹1,165.2 on 10 Sept 2025 → ₹36.02. High ₹1,165.2 (10 Sept 2025), low ₹31.34 (9 Jun 2026).
How the price took the results
close before → close after
- Q2 FY26
- −4.0%
- 7 Nov
The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.
Financials, as filed
Revenue grew 285.1% a year over 2 years, FY24 to FY26. Operating margin widened to 12.3%.
| Year ending | FY24 | FY25 | FY26 |
|---|---|---|---|
| Revenue | ₹21 Cr | ₹111 Cr | ₹308 Cr |
| Operating profit | ₹2 Cr | ₹3 Cr | ₹38 Cr |
| Operating margin | 10.9% | 2.9% | 12.3% |
| Interest | ₹0 Cr | ₹0 Cr | ₹6 Cr |
| Depreciation | ₹0 Cr | ₹2 Cr | ₹3 Cr |
| Net profit | ₹2 Cr | ₹1 Cr | ₹26 Cr |
| Net margin | 10.8% | 1.1% | 8.3% |
| Cash from operations | ₹-7 Cr | ₹-87 Cr | ₹-101 Cr |
| Free cash flow | ₹-8 Cr | ₹-93 Cr | ₹-103 Cr |
| ROCE | 5.0% | 1.0% | 11.0% |
How to read this
From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.
Balance sheet
| Year ending | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Equity capital | ₹0 Cr | ₹54 Cr | ₹65 Cr | ₹65 Cr |
| Reserves | ₹0 Cr | ₹28 Cr | ₹295 Cr | ₹319 Cr |
| Borrowings | ₹1 Cr | ₹2 Cr | ₹30 Cr | ₹107 Cr |
| Other liabilities | ₹0 Cr | ₹4 Cr | ₹77 Cr | ₹180 Cr |
| Total liabilities | ₹0 Cr | ₹86 Cr | ₹468 Cr | ₹672 Cr |
| Fixed assets | ₹0 Cr | ₹15 Cr | ₹31 Cr | ₹33 Cr |
| Capital work in progress | ₹0 Cr | ₹0 Cr | ₹2 Cr | ₹3 Cr |
| Investments | ₹0 Cr | ₹1 Cr | ₹121 Cr | ₹123 Cr |
| Other assets | ₹0 Cr | ₹70 Cr | ₹313 Cr | ₹513 Cr |
| Total assets | ₹0 Cr | ₹86 Cr | ₹468 Cr | ₹672 Cr |
How to read this
As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.
Who owns it
As disclosed at Aug 2026
Since Sep 2025, promoters added +1.29 pp while the public trimmed −1.13 pp. The shareholder count grew 83% to 23,951.
- Promoters
- 63.1%
- FIIs
- 5.6%
- DIIs
- 1.3%
- Public
- 30.1%
Since Sep 2025
- Promoters +1.29 pp
- Public −1.13 pp
- DIIs −0.16 pp
How it drifted, 12 quarters
Over this window the public fell from 100.0% to 30.1% — −69.9 pp.
Ownership split by quarter, oldest first. Dec '23: Public 100.0%.Mar '24: FIIs 5.1%, DIIs 1.7%, Public 93.2%.Jun '24: Promoters 74.9%, FIIs 5.1%, DIIs 1.7%, Public 18.3%.Sep '24: Promoters 74.9%, FIIs 5.1%, DIIs 1.7%, Public 18.3%.Dec '24: Promoters 74.9%, FIIs 5.1%, DIIs 1.7%, Public 18.3%.Mar '25: Promoters 62.8%, FIIs 5.2%, DIIs 1.4%, Public 30.5%.Jun '25: Promoters 61.8%, FIIs 5.5%, DIIs 1.4%, Public 31.2%.Sep '25: Promoters 61.8%, FIIs 5.6%, DIIs 1.4%, Public 31.2%.Dec '25: Promoters 61.8%, FIIs 4.8%, DIIs 1.4%, Public 32.0%.Mar '26: Promoters 62.1%, FIIs 5.0%, DIIs 1.4%, Public 31.5%.Jun '26: Promoters 62.1%, FIIs 5.5%, DIIs 1.4%, Public 31.0%.Aug '26: Promoters 63.1%, FIIs 5.6%, DIIs 1.3%, Public 30.1%.
Who bought this quarter
since Jun 2026
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
- Vritti Hitesh Kawa newly disclosed 1.03% held
- Shankar Varadharajan +0.85 pp 12.31% held
- Vikasa India Eif I Fund FPI fund +0.27 pp 2.81% held
- FMV Holdings Pte Ltd +0.09 pp 50.78% held
The same filing shows 9 holders trimming and 0 off the list — both are in the register beside this.
Who is on the register
Named in the Aug 2026 filing
Every holder of Fischer Medical above SEBI's 1% disclosure line, and what changed since Jun 2026.
| Holder | Stake | Change |
|---|---|---|
| FMV Holdings Pte Ltd | 50.78% | +0.09 pp |
| Shankar Varadharajan | 12.31% | +0.85 pp |
| Vikasa India Eif I Fund FPI fund | 2.81% | +0.27 pp |
| Roopal Hitesh Kawa . | 2.54% | −0.17 pp |
| India Emerging Giants Fund Limited FPI fund | 2.32% | −0.16 pp |
| Vinay Rajendrakumar Nagda | 1.43% | −0.10 pp |
| Blue Lotus Capital Multi Bagger Fund Ii AIF | 1.26% | −0.09 pp |
| L7 Hitech Private Limited | 1.17% | −0.08 pp |
| Kaushik Hasmukhlal Gandhi | 1.14% | −0.07 pp |
| Natwarlal Keshavjibhai Kawa | 1.11% | −0.07 pp |
| Vritti Hitesh Kawa | 1.03% | newly disclosed |
| Hitesh Natwarlal Kawa | 1.02% | −0.07 pp |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
Learn to analyse Fischer Medical
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