METROPOLIS

Metropolis Healthcare share price & financials

Price
₹545.3
Market cap
₹11.7k Cr
Sector
Healthcare
Calls analysed
7
Latest concall · Q1 FY27 · call held 05 Aug 2026

Metropolis Healthcare Limited Q1 FY27

Revenue ₹450 cr +17%EBITDA ₹113 cr +27%EBITDA Margin 25.2% PAT ₹57 cr +26%

What went well

  • Revenue grew 17% YoY to INR 450 crores, exceeding stated guidance.
  • EBITDA margin expanded by 210 bps to 25.2%, driven by operating leverage and efficiency gains.
  • PAT increased 26% YoY to INR 57 crores, with PAT margin expanding 90 bps to 12.6%.

What to watch

  • Management could not immediately provide the exact number of labs operating under their 'lab-on-lease' model.
  • The benefit from CGHS price revisions was minimal, as CGHS contributes only about 1% to the overall business.
Read the full call →

What Metropolis Healthcare Limited does

Metropolis Healthcare is a pathology and diagnostics services company that collects patient samples and runs pathology, radiology, wellness and genomics tests through its own labs, earning revenue from both direct-to-patient walk-in/home-collection business (B2C) and contracts with hospitals, doctors, corporates, government health programs and clinical trials (B2B). It operates a network of company-owned, franchised and rural collection centres feeding into a smaller number of central processing laboratories across India, and additionally runs company-managed labs and collection centres in East Africa. The company has expanded its specialty and genomics capabilities through acquisitions such as Core Diagnostics, DAPIC (Dehradun), Scientific Pathology (Agra) and Ambika Pathology (Kolhapur).

Segments

  • B2C
  • B2B
Clinical/reference labs
212 labs, including 35 ISO:15189-accredited labs (31 in India, 4 in Kenya) and 2 CAP-accredited labs in India
Sample collection network
5,026 collection centres (own, franchisee and rural)
Geographic reach
Presence across 750+ towns in India, up from 300 towns in FY23
Test menu
4,000+ tests and health profiles offered
Genomics infrastructure
2 CAP-accredited genomics labs, in Mumbai and Gurugram
International footprint
Company-managed labs and collection centres in Kenya, Uganda, Ghana, Zambia and Tanzania; B2B laboratory clients served across 12 other international markets including Abu Dhabi, Bangladesh, Dubai, Maldives, Mauritius, Nepal, Nigeria, Sri Lanka, Uzbekistan, Vietnam and Zimbabwe
Founded 1981 Company website

Guidance record · Q1 FY27

what the last two calls moved 20 tracked 4 delivered 5 missed 11 open
  • Organic EBITDA Margin Expansion delivered said Q4 FY25 Promised: Expect the EBITDA to expand by about 1 percentage in this financial year (FY26). Q1 FY27: Promise completed in FY26. No new update.
  • Overall Revenue Growth missed said Q4 FY25 Promised: We'll be closer to a 26%, 27% growth overall in the year '25, '26. Q1 FY27: Promise completed and missed in FY26. No new update.
  • Core Diagnostics Margin Parity revised up said Q3 FY25 Promised: It will take up to 2 to 3 years to reach the margin Metropolis margin profile. Q1 FY27: Guidance revised again. Target is now 25% margin in 3-4 years from acquisition. This is an improvement from the prior '20%+' target but still below the original 'parity' goal and on an extended timeline.

All 20 tracked — every revision, and every one management stopped mentioning.

Open the guidance ledger

Quarterly results

Q1 FY27: revenue up 14.8%, net profit up 41.7% against the same quarter last year.

₹ Cr · quarterly
Line itemQ2 FY25Q3 FY25Q4 FY25Q1 FY26Q2 FY26Q3 FY26Q4 FY26Q1 FY27
Revenue322 297 312 324 356 +11%335 +13%352 +13%372 +15%
EBITDA82 65 53 77 91 +11%80 +23%90 +70%94 +22%
Net profit42 27 24 36 47 +12%32 +19%43 +79%51 +42%
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 −72.8% 1Y

₹0.5k₹1.0k₹1.5k₹2.0kSept 25Oct 25Dec 25Jan 26Mar 26Apr 26Jun 26Jul 26Sept 26Q2 FY26 — 6 Nov 2025Q3 FY26 — 5 Feb 2026Q4 FY26 — 14 May 2026Q1 FY27 — 5 Aug 2026

1Y: ₹2,153.6 on 10 Sept 2025 → ₹585.5. High ₹2,153.6 (10 Sept 2025), low ₹421.75 (2 Apr 2026).

How the price took the results

close before → close after

Q1 FY27
−1.3%
5 Aug
Q4 FY26
−1.3%
14 May
Q3 FY26
+4.0%
5 Feb
Q2 FY26
−1.2%
6 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 6.0% a year over 3 years, FY23 to FY26. Operating margin held at 24.7%.

Year endingFY23FY24FY25FY26
Revenue₹1.1k Cr₹1.1k Cr₹1.2k Cr₹1.4k Cr
Operating profit₹287 Cr₹258 Cr₹268 Cr₹338 Cr
Operating margin25.0%23.4%22.0%24.7%
Interest₹27 Cr₹23 Cr₹18 Cr₹19 Cr
Depreciation₹89 Cr₹90 Cr₹105 Cr₹117 Cr
Net profit₹143 Cr₹116 Cr₹124 Cr₹158 Cr
Net margin12.5%10.5%10.2%11.6%
Cash from operations₹238 Cr₹269 Cr₹273 Cr₹318 Cr
Free cash flow₹189 Cr₹209 Cr₹211 Cr₹281 Cr
ROCE17.0%15.0%13.0%16.0%
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₹10 Cr₹10 Cr₹10 Cr₹10 Cr₹10 Cr₹41 Cr
Reserves₹699 Cr₹829 Cr₹926 Cr₹1.0k Cr₹1.4k Cr₹1.3k Cr
Borrowings₹85 Cr₹377 Cr₹268 Cr₹195 Cr₹201 Cr₹182 Cr
Other liabilities₹140 Cr₹242 Cr₹230 Cr₹247 Cr₹359 Cr₹299 Cr
Total liabilities₹933 Cr₹1.5k Cr₹1.4k Cr₹1.5k Cr₹2.0k Cr₹1.9k Cr
Fixed assets₹251 Cr₹1.0k Cr₹1.1k Cr₹1.1k Cr₹1.6k Cr₹1.1k Cr
Capital work in progress₹0 Cr₹6 Cr₹20 Cr₹0 Cr₹0 Cr₹0 Cr
Investments₹131 Cr₹50 Cr₹50 Cr₹90 Cr₹21 Cr₹484 Cr
Other assets₹552 Cr₹398 Cr₹299 Cr₹263 Cr₹399 Cr₹252 Cr
Total assets₹933 Cr₹1.5k Cr₹1.4k Cr₹1.5k Cr₹2.0k Cr₹1.9k 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, DIIs added +2.72 pp while FIIs trimmed −1.80 pp. The shareholder count grew 1% to 50,636.

Promoters
48.9%
FIIs
11.0%
DIIs
35.1%
Public
5.0%

Since Jun 2025

  • DIIs +2.72 pp
  • FIIs −1.80 pp
  • Public −0.87 pp

How it drifted, 12 quarters

Over this window DIIs went from 16.9% to 35.1% — +18.3 pp.

Sep '23Dec '24Jun '26

Ownership split by quarter, oldest first. Sep '23: Promoters 49.8%, FIIs 24.3%, DIIs 16.9%, Public 9.1%.Dec '23: Promoters 49.7%, FIIs 21.7%, DIIs 20.7%, Public 7.9%.Mar '24: Promoters 49.7%, FIIs 18.9%, DIIs 24.9%, Public 6.6%.Jun '24: Promoters 49.6%, FIIs 18.3%, DIIs 27.4%, Public 4.7%.Sep '24: Promoters 49.4%, FIIs 18.6%, DIIs 28.0%, Public 4.0%.Dec '24: Promoters 49.4%, FIIs 16.7%, DIIs 30.0%, Public 3.9%.Mar '25: Promoters 48.9%, FIIs 15.3%, DIIs 30.3%, Public 5.5%.Jun '25: Promoters 48.9%, FIIs 12.8%, DIIs 32.4%, Public 5.9%.Sep '25: Promoters 48.9%, FIIs 12.5%, DIIs 33.1%, Public 5.5%.Dec '25: Promoters 48.9%, FIIs 11.7%, DIIs 34.7%, Public 4.7%.Mar '26: Promoters 48.9%, FIIs 10.4%, DIIs 35.8%, Public 4.9%.Jun '26: Promoters 48.9%, FIIs 11.0%, DIIs 35.1%, Public 5.0%.

Who was buying across the market this quarter →

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.

The same filing shows 2 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 Metropolis Healthcare Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.

HolderStakeChange
Metz Advisory LLP 30.27%unchanged
Duru Shah Family Trust (Duru Sushil Shah & Sushil Kanubhai Shah) 11.05%unchanged
HDFC Mutual Fund - HDFC Focused Fund Mutual fund9.66%unchanged
Sushil Shah Family Trust (Sushil Kanubhai Shah & Duru Sushil Shah) 7.19%unchanged
Franklin India Small Cap Fund Mutual fund4.24%+0.47 pp
Kotak Small Cap Fund Mutual fund3.79%+0.12 pp
UTI Large Cap Fund Mutual fund3.72%−0.15 pp
Tata Business Cycle Fund Mutual fund2.84%−0.52 pp
Nippon Life India Trustee Ltd-A/C Nippon India Small Cap Fund Mutual fund2.21%unchanged
Aditya Birla Sun Life Trustee Private Limited A/C Aditya Birla Sun Life Flexi Cap Fund Mutual fund1.95%unchanged
Canara Robeco Mutual Fund A/C Canara Robeco Small Cap Fund Mutual fund1.45%unchanged
Ameera Sushil Shah 0.35%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 METROPOLIS

Filings to Aug 2026

0 new, 0 added, 0 trimmed, 0 sold out — net +0.00 L shares (+0.0%).

Held by funds
₹1.0k Cr
5 schemes
Biggest holder
HDFC Flexi Cap Fund
₹379 Cr · 0.3% of that fund
SchemeHoldingLast month
HDFC Flexi Cap Fund HDFC Mutual Fund₹379 Crheld
Nippon India Small Cap Fund Nippon India Mutual Fund₹267 Crheld
HDFC ELSS Tax saver HDFC Mutual Fund₹186 Crheld
HDFC Hybrid Equity Fund HDFC Mutual Fund₹143 Crheld
HDFC Pharma and Healthcare Fund HDFC Mutual Fund₹63 Crheld

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 Aug 2026

0 added, 0 trimmed — net 0 shares (+0.0%)

Funds are sitting on
+31%
vs est. average cost
Held by funds
₹1.0k Cr
5 schemes · ≈ 8.3% of the company
Biggest holder
HDFC Flexi Cap Fund
₹379 Cr · 0.3% of that fund
Longest holder
Nippon India Small Cap Fund
3y · since Sep '23

Shares held by these funds +960%

Aug '23 1.78 cr shares Jul '26

What the price assumes

Growth trap

To justify its price of ₹586, this stock must grow earnings at 37% every year for 7 years. Our analysis caps realistic growth at ~3%. At that growth it is worth ₹103 — downside of 82%.

Growth the price implies
37.4% a year
for 7 years, fading to 4%
It has actually compounded at
3.4% a year
net profit, FY23–FY26
The gap
0.3 pp
-82% downside if it only repeats history
Price today ₹585.5 Value at the reference growth ₹102.69

Change the assumptions yourself →

All earnings calls (7)

Read the Q1 FY27 call →

Learn to analyse Metropolis Healthcare Limited

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