ARTEMISMED

Artemis Medicare Services share price & financials

Price
₹258.65
Market cap
₹5.0k Cr
Sector
Healthcare
Calls analysed
4
Latest concall · Q1 FY27 · call held 04 Aug 2026

Artemis Medicare Services Limited Q1 FY27

Consolidated Revenue from Operations ₹287.32 cr +13%EBITDA ₹61.82 cr EBITDA Margin 21.5% Profit After Tax ₹31.44 cr +48%

What went well

  • Consolidated revenue from operations for Q1 FY27 was INR 287.32 crores, reflecting a year-on-year growth of 12.7%.
  • Standalone Gurgaon showed a top-line growth of 15.4% year-on-year.
  • EBITDA for the quarter was INR 61.82 crores with an EBITDA margin of 21.5%.

What to watch

  • The new Artemis Shanti Hospital in Raipur is expected to incur an overall operating loss of approximately INR 20 crores during its 15-18 month break-even period.
  • The international patient mix 'came off a bit' in Q1, though management clarified it continues to grow despite the West Asian war.
Read the full call →

What Artemis Medicare Services Limited does

Artemis Medicare Services operates a tertiary and quaternary-care super-speciality hospital in Gurugram (Delhi-NCR), promoted by the founders of the Apollo Tyres Group. It earns from inpatient and outpatient treatment across specialities such as oncology, cardiology, neurology, orthopaedics and liver transplant, serving domestic cash, insured, government-scheme and international patients. The company also runs an overseas hospital in Mauritius under a management contract and is building new super-speciality hospitals in Raipur (Chhattisgarh) and South Delhi to expand its footprint beyond Gurugram.

Segments

  • Gurugram hospital (flagship)
  • Overseas operations & management
  • Under-development hospitals
Total bed capacity (Gurugram hospital)
700 beds
Planned bed capacity by 2028/29 (India + overseas)
~2,000 beds
Medical specialities offered
40+
Centres of Excellence
14
Doctors on staff
500+
Countries international patients are treated from
100+
Founded 2004Headquarters Gurugram, Haryana, India Company website

Guidance record · Q1 FY27

what the last two calls moved 24 tracked 0 delivered 5 missed 19 open
  • Raipur Initial ARPOB went quiet said Q2 FY26 Promised: 35,000 to 38,000 Q1 FY27: Not mentioned. Focus is on initial ramp-up, occupancy, and break-even timeline. Too early for ARPOB data.
  • Raipur Hospital Operations Start delayed said Q2 FY26 Promised: March 2026 Q1 FY27: Commenced operations in July 2026 (Q2 FY27), a slight delay from the Q1 FY27 target. OPD services began July 9th.
  • Occupancy Rate on track said Q2 FY26 Promised: upwards of 70%, if not more Q1 FY27: Actual for Q1 FY27 was 65.7%. Management is looking to improve it in Q2, on track for the 70-75% target.

All 24 tracked — every revision, and every one management stopped mentioning.

Open the guidance ledger

Quarterly results

Q1 FY27: revenue up 12.5%, net profit up 47.6% against the same quarter last year.

₹ Cr · quarterly
Line itemQ2 FY25Q3 FY25Q4 FY25Q1 FY26Q2 FY26Q3 FY26Q4 FY26Q1 FY27
Revenue241 232 240 255 275 +14%272 +17%279 +16%287 +13%
EBITDA42 37 36 41 51 +21%45 +22%52 +44%56 +37%
Net profit22 21 23 21 30 +36%22 +5%30 +30%31 +48%
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 +45.5% 1Y

₹200₹250₹300₹350Sept 25Oct 25Dec 25Jan 26Mar 26Apr 26Jun 26Jul 26Sept 26Q2 FY26 — 12 Nov 2025Q3 FY26 — 3 Feb 2026Q4 FY26 — 11 May 2026Q1 FY27 — 4 Aug 2026

1Y: ₹236.98 on 10 Sept 2025 → ₹344.9. High ₹354.3 (9 Sept 2026), low ₹205.51 (30 Mar 2026).

How the price took the results

close before → close after

Q1 FY27
−0.1%
4 Aug
Q4 FY26
+6.1%
11 May
Q3 FY26
−9.2%
3 Feb
Q2 FY26
+6.8%
12 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 14.5% a year over 3 years, FY23 to FY26. Operating margin widened to 17.5%.

Year endingFY23FY24FY25FY26
Revenue₹721 Cr₹879 Cr₹936 Cr₹1.1k Cr
Operating profit₹95 Cr₹133 Cr₹151 Cr₹189 Cr
Operating margin13.2%15.1%16.1%17.5%
Interest₹19 Cr₹32 Cr₹32 Cr₹27 Cr
Depreciation₹30 Cr₹40 Cr₹45 Cr₹48 Cr
Net profit₹41 Cr₹50 Cr₹83 Cr₹103 Cr
Net margin5.7%5.7%8.9%9.5%
Cash from operations₹127 Cr₹109 Cr₹156 Cr₹132 Cr
Free cash flow₹-18 Cr₹37 Cr₹65 Cr₹32 Cr
ROCE11.0%14.0%15.0%15.0%
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 endingFY21FY22FY23FY24FY25FY26
Equity capital₹13 Cr₹13 Cr₹13 Cr₹14 Cr₹14 Cr₹16 Cr
Reserves₹307 Cr₹346 Cr₹390 Cr₹435 Cr₹873 Cr₹919 Cr
Borrowings₹147 Cr₹201 Cr₹286 Cr₹320 Cr₹274 Cr₹262 Cr
Other liabilities₹133 Cr₹149 Cr₹216 Cr₹203 Cr₹255 Cr₹232 Cr
Total liabilities₹600 Cr₹710 Cr₹905 Cr₹972 Cr₹1.4k Cr₹1.4k Cr
Fixed assets₹383 Cr₹489 Cr₹605 Cr₹719 Cr₹780 Cr₹804 Cr
Capital work in progress₹81 Cr₹64 Cr₹95 Cr₹33 Cr₹37 Cr₹29 Cr
Investments₹0 Cr₹0 Cr₹0 Cr₹0 Cr₹15 Cr₹0 Cr
Other assets₹136 Cr₹157 Cr₹205 Cr₹219 Cr₹584 Cr₹596 Cr
Total assets₹600 Cr₹710 Cr₹905 Cr₹972 Cr₹1.4k Cr₹1.4k 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 Jun 2026

Since Jun 2025, FIIs added +12.04 pp while promoters trimmed −8.14 pp. The shareholder count grew 15% to 36,335.

Promoters
58.4%
FIIs
12.3%
DIIs
2.4%
Government
6.2%
Public
20.8%

Since Jun 2025

  • FIIs +12.04 pp
  • Promoters −8.14 pp
  • DIIs −2.36 pp

How it drifted, 12 quarters

Over this window FIIs went from 0.1% to 12.3% — +12.2 pp.

Sep '23Dec '24Jun '26

Ownership split by quarter, oldest first. Sep '23: Promoters 68.0%, FIIs 0.1%, DIIs 1.5%, Government 7.2%, Public 23.2%.Dec '23: Promoters 68.0%, FIIs 0.1%, DIIs 2.0%, Government 7.2%, Public 22.7%.Mar '24: Promoters 68.0%, FIIs 0.1%, DIIs 2.6%, Government 7.2%, Public 22.1%.Jun '24: Promoters 67.5%, FIIs 0.2%, DIIs 3.5%, Government 7.1%, Public 21.8%.Sep '24: Promoters 67.2%, FIIs 0.2%, DIIs 3.6%, Government 7.1%, Public 21.9%.Dec '24: Promoters 67.2%, FIIs 0.7%, DIIs 4.5%, Government 7.1%, Public 20.6%.Mar '25: Promoters 67.2%, FIIs 0.3%, DIIs 5.0%, Government 7.1%, Public 20.4%.Jun '25: Promoters 66.5%, FIIs 0.2%, DIIs 4.8%, Government 7.0%, Public 21.4%.Sep '25: Promoters 66.5%, FIIs 0.4%, DIIs 4.3%, Government 7.0%, Public 21.8%.Dec '25: Promoters 58.4%, FIIs 12.5%, DIIs 2.9%, Government 6.2%, Public 20.1%.Mar '26: Promoters 58.4%, FIIs 12.2%, DIIs 2.9%, Government 6.2%, Public 20.4%.Jun '26: Promoters 58.4%, FIIs 12.3%, DIIs 2.4%, Government 6.2%, Public 20.8%.

Who was buying across the market this quarter →

Who is on the register

Named in the Jun 2026 filing

Every holder of Artemis Medicare Services Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.

HolderStakeChange
Constructive Finance Pvt Ltd 58.38%unchanged
International Finance Corporation NBFC / DFI11.98%unchanged
Governor Of Kerala 4.26%unchanged
Devlina Chakravarty 2.92%unchanged
Kerala State Industrial Development Corporation NBFC / DFI1.90%unchanged
Artemis Medicare Services Limited-Unclaimed Suspense Account 1.48%unchanged
Onkar Kanwar 0.01%unchanged
Sunrays Properties and Investments Company Private Limited 0.00%unchanged
Classic Industries And Exports Limited 0.00%unchanged
Landmark Farms And Housing Private Ltd 0.00%unchanged
Leto Realtors Pvt Ltd 0.00%unchanged
Fortune Peopmart Pvt Ltd 0.00%unchanged

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.

What the price assumes

Fair

To justify its price of ₹345, this stock must grow earnings at 32% every year for 7 years. Our analysis caps realistic growth at ~33%. At that growth it is worth ₹366 — upside of 6%.

Growth the price implies
31.9% a year
for 7 years, fading to 4%
It has actually compounded at
35.9% a year
net profit, FY23–FY26 · EPS 33.1%
The gap
-0.0 pp
6% downside if it only repeats history
Price today ₹344.9 Value at the reference growth ₹366.01

Change the assumptions yourself →

All earnings calls (4)

Read the Q1 FY27 call →

Learn to analyse Artemis Medicare Services Limited

Guides on how to read this kind of business and the numbers that matter.