MEDIASSIST
Medi Assist Healthcare Services share price & financials
- Price
- ₹356.45
- Market cap
- ₹2.6k Cr
- Sector
- Financial Services
- Calls analysed
- 7
Medi Assist Healthcare Services Limited Q1 FY27
What went well
- Total income increased by 24.9% year-on-year to ₹247 crores, driven by strong operating revenue growth of 24.1% YoY to ₹236.5 crores.
- Operating EBITDA grew 14.3% YoY to ₹48 crores, with a healthy margin of 20.3% on operating revenue for Q1 FY27.
- The Technology SaaS business demonstrated robust growth of 55.5% YoY, contributing ₹7.8 crores to revenue and reaching 3.3% of consolidated revenues.
What to watch
- International business revenue declined by 5.2% year-on-year to ₹10.1 crores, attributed to temporary softness in student, leisure, and marine volumes.
- Consolidated retention rate for Q1 stood at 90.2%, below the historical 93-94%, due to post-acquisition transition, portfolio rationalization, and onboarding challenges.
What Medi Assist Healthcare Services Limited does
Medi Assist is a health benefits administrator (third-party administrator) that sits between insurers, corporates, hospitals and policyholders, handling enrolment, cashless and reimbursement claims processing, hospital-network management and fraud detection for group, retail and government health insurance and assurance schemes. It earns fees for this administration work across a nationwide hospital network and, through its Mayfair We Care business, extends benefits administration to outbound Indian travellers and international corporates. It also licenses its proprietary AI-led technology stack (MAtrix claims platform, MAven Guard fraud detection, Raksha Prime discharge automation) as a SaaS offering to insurers in India and overseas, and is integrating the acquired Paramount TPA business onto its own platforms.
Segments
- Group
- Retail
- Government
- International Benefits Administration
- Technology
- Hospital network (India)
- 20,204 hospitals across 1,217 cities
- Group + Retail claims processed (FY26)
- 10.0 million (2.2M cashless IP, 1.3M reimbursement IP, 2.7M cashless OP, 3.8M reimbursement OP)
- Corporate/group client accounts
- ~11,000 corporates across 25+ sectors
- Government scheme beneficiaries serviced
- ~27 crore members across 13 states and 3 union territories
- Global healthcare provider network
- 500,000+ providers across 185 countries (Mayfair We Care)
- International (Mayfair) retail lives
- 953,000
Guidance record · Q1 FY27
what the last two calls moved 15 tracked 2 delivered 3 missed 10 open- Paramount Acquisition Completion delivered said Q3 FY25 Promised: within the current quarter (Q4 FY25) Q1 FY27: Acquisition was previously achieved. The focus in Q1 FY27 is on integration, which is a separate promise.
- Effective Tax Rate (ETR) went quiet said Q3 FY25 Promised: 18-19% by March 2025 Q1 FY27: The target remains unaddressed, confirming its ghosted status after the deadline passed.
- Steady State TPA Business Margin revised down said Q1 FY26 Promised: 23%-24% Q1 FY27: This target remains superseded by the broader margin recovery guidance. No new update provided on this specific original target.
All 15 tracked — every revision, and every one management stopped mentioning.
Open the guidance ledgerQuarterly results
Q1 FY27: revenue up 34.1%, net profit up 62.5% 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 | 39 | 34 | 43 | 44 | 61 +56% | 57 +68% | 64 +49% | 59 +34% |
| EBITDA | 17 | 7 | 20 | 14 | 25 +47% | 18 +157% | 24 +20% | 17 +21% |
| Net profit | 10 | 4 | 11 | 8 | 18 +80% | 12 +200% | 14 +27% | 13 +63% |
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 −39.6% 1Y
1Y: ₹523.65 on 10 Sept 2025 → ₹316.4. High ₹571.15 (3 Nov 2025), low ₹296.75 (30 Mar 2026).
How the price took the results
close before → close after
- Q1 FY27
- −3.3%
- 10 Aug
- Q4 FY26
- +3.2%
- 11 May
- Q3 FY26
- +4.4%
- 9 Feb
- Q2 FY26
- −7.9%
- 5 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 44.0% a year over 2 years, FY24 to FY26. Operating margin widened to 35.8%.
| Year ending | FY24 | FY25 | FY26 |
|---|---|---|---|
| Revenue | ₹109 Cr | ₹150 Cr | ₹226 Cr |
| Operating profit | ₹38 Cr | ₹59 Cr | ₹81 Cr |
| Operating margin | 34.9% | 39.3% | 35.8% |
| Interest | ₹0 Cr | ₹4 Cr | ₹7 Cr |
| Depreciation | ₹11 Cr | ₹19 Cr | ₹20 Cr |
| Net profit | ₹20 Cr | ₹34 Cr | ₹52 Cr |
| Net margin | 18.3% | 22.7% | 23.0% |
| Cash from operations | ₹40 Cr | ₹63 Cr | ₹59 Cr |
| Free cash flow | ₹32 Cr | ₹29 Cr | ₹21 Cr |
| ROCE | 25.0% | 20.0% | 20.0% |
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 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹0 Cr | ₹34 Cr | ₹34 Cr | ₹35 Cr | ₹35 Cr | ₹37 Cr |
| Reserves | ₹164 Cr | ₹133 Cr | ₹133 Cr | ₹181 Cr | ₹544 Cr | ₹452 Cr |
| Borrowings | ₹6 Cr | ₹5 Cr | ₹3 Cr | ₹1 Cr | ₹305 Cr | ₹5 Cr |
| Other liabilities | ₹38 Cr | ₹23 Cr | ₹27 Cr | ₹35 Cr | ₹536 Cr | ₹56 Cr |
| Total liabilities | ₹208 Cr | ₹195 Cr | ₹198 Cr | ₹252 Cr | ₹1.4k Cr | ₹550 Cr |
| Fixed assets | ₹16 Cr | ₹10 Cr | ₹23 Cr | ₹17 Cr | ₹679 Cr | ₹72 Cr |
| Capital work in progress | ₹1 Cr | ₹6 Cr | ₹0 Cr | ₹3 Cr | ₹0 Cr | ₹0 Cr |
| Investments | ₹94 Cr | ₹103 Cr | ₹95 Cr | ₹133 Cr | ₹91 Cr | ₹173 Cr |
| Other assets | ₹97 Cr | ₹76 Cr | ₹79 Cr | ₹99 Cr | ₹650 Cr | ₹305 Cr |
| Total assets | ₹208 Cr | ₹195 Cr | ₹198 Cr | ₹252 Cr | ₹1.4k Cr | ₹550 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, promoters trimmed −15.94 pp while FIIs added +11.53 pp. The shareholder count shrank 14% to 88,148.
- Promoters
- 4.6%
- FIIs
- 25.4%
- DIIs
- 47.2%
- Public
- 22.7%
Since Jun 2025
- Promoters −15.94 pp
- FIIs +11.53 pp
- DIIs +4.94 pp
How it drifted, 10 quarters
Over this window promoters fell from 38.9% to 4.6% — −34.3 pp.
Ownership split by quarter, oldest first. Mar '24: Promoters 38.9%, FIIs 9.7%, DIIs 30.6%, Public 20.8%.Jun '24: Promoters 38.9%, FIIs 9.8%, DIIs 29.2%, Public 22.2%.Sep '24: Promoters 20.6%, FIIs 16.3%, DIIs 41.3%, Public 21.8%.Dec '24: Promoters 20.6%, FIIs 14.0%, DIIs 42.7%, Public 22.7%.Mar '25: Promoters 20.6%, FIIs 13.3%, DIIs 42.9%, Public 23.3%.Jun '25: Promoters 20.6%, FIIs 13.9%, DIIs 42.3%, Public 23.3%.Sep '25: Promoters 4.9%, FIIs 23.0%, DIIs 48.9%, Public 23.2%.Dec '25: Promoters 4.6%, FIIs 25.3%, DIIs 49.9%, Public 20.2%.Mar '26: Promoters 4.6%, FIIs 24.3%, DIIs 49.2%, Public 21.9%.Jun '26: Promoters 4.6%, FIIs 25.4%, DIIs 47.2%, Public 22.7%.
Who bought this quarter
since Mar 2026
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
- Old Bridge Focused Fund Mutual fund +0.86 pp 2.28% held
- Massachusetts Institute Of Technology Endowment +0.77 pp 4.64% held
- 238 Plan Associates Llc FPI fund +0.23 pp 1.32% held
- Sundaram Mutual Fund A/C Sundaram Services Fund Mutual fund +0.16 pp 3.01% held
- Aditya Birla Sun Life Insurance Company Limited Insurer +0.14 pp 3.64% held
The same filing shows 5 holders trimming and 1 off the list — both are in the register beside this.
Who is on the register
Named in the Jun 2026 filing
Every holder of Medi Assist Healthcare Services Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| ICICI Prudential Banking And Financial Services Fu Mutual fund | 7.33% | −0.13 pp |
| HDFC Large And Mid Cap Fund Mutual fund | 7.12% | −1.66 pp |
| Aditya Birla Sun Life Trustee Private Limited A/C - Aditya Birla Sun Life ELSS Tax Saver Fund Mutual fund | 6.50% | −0.56 pp |
| Goldman Sachs Funds - Goldman Sachs India Equity Portfolio Global fund house | 5.18% | unchanged |
| Kotak Small Cap Fund Mutual fund | 4.98% | unchanged |
| Massachusetts Institute Of Technology Endowment | 4.64% | +0.77 pp |
| Medimatter Health Management Private Limited | 4.61% | unchanged |
| Aditya Birla Sun Life Insurance Company Limited Insurer | 3.64% | +0.14 pp |
| Wasatch Emerging India Fund Global fund house | 3.53% | unchanged |
| Novo Holdings A/S | 3.40% | unchanged |
| Sundaram Mutual Fund A/C Sundaram Services Fund Mutual fund | 3.01% | +0.16 pp |
| Canara Robeco Mutual Fund A/C Canara Robeco ELSS Tax Saver Mutual fund | 2.86% | 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.
Mutual funds in MEDIASSIST
Filings to Jul 2026
0 new, 0 added, 2 trimmed, 0 sold out — net −10.03 L shares (−21.1%).
- Held by funds
- ₹134 Cr
- 5 schemes
- Biggest holder
- HDFC Large and Mid Cap Fund
- ₹51 Cr · 0.2% of that fund
| Scheme | Holding | Last month | Held since |
|---|---|---|---|
| HDFC Large and Mid Cap Fund HDFC Mutual Fund | ₹51 Cr | held | Sep '24 |
| HDFC Balanced Advantage Fund HDFC Mutual Fund | ₹34 Cr | held | Dec '25 |
| HDFC Dividend Yield Fund HDFC Mutual Fund | ₹18 Cr | held | Sep '24 |
| HDFC Multi Cap Fund HDFC Mutual Fund | ₹15 Cr | −5.02 L | Sep '24 |
| HDFC ELSS Tax saver HDFC Mutual Fund | ₹15 Cr | −5.01 L | Sep '24 |
HDFC, Nippon India and SBI schemes, from their monthly disclosures. Changes are counted in shares, so a price move never looks like buying or selling.
Mutual funds Jul 2026
0 added, 2 trimmed — net −10.03 L shares (−21.1%)
- Funds are sitting on
- -41%
- vs est. average cost
- Held by funds
- ₹134 Cr
- 5 schemes · ≈ 5.1% of the company
- Biggest holder
- HDFC Large and Mid Cap Fund
- ₹51 Cr · 0.2% of that fund
Shares held by these funds +557%
Jan '24 37.53 L shares Jul '26
All earnings calls (7)
Read the Q1 FY27 call →Learn to analyse Medi Assist Healthcare Services Limited
Guides on how to read this kind of business and the numbers that matter.