Nephrocare Health Services share price & results

Nephrocare Health Services Limited· Healthcare

Results to: Jun 2026
Latest analysed call: Q1 FY27
Ownership as of: Sept 2026

India's and Asia's largest dialysis clinic network, operating 524 clinics across 5 countries.

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Reported

The figures, each with its period

Each figure keeps its basis and period; nothing is filled in.

Metric	Value	Change	Basis	Period	Note
Revenue	282 ₹ crore	+23.7% YoY	Quarterly, as filed	Quarter to Jun 2026	Revenue from operations as filed.
Operating margin	21.0 %	0.0 pts YoY	Operating profit / revenue	Quarter to Jun 2026	For the quarter; a change is in percentage points.
Net profit	32.0 ₹ crore	+33.3% YoY	Quarterly, as filed	Quarter to Jun 2026	Profit after tax as filed.
Return on equity	10.02 %	−4.7 ptsFY Mar 2026 vs FY Mar 2025	Trailing twelve months	TTM to Jun 2026	Adjusted profit attributable to owners ÷ average owners’ equity.
Free cash flow margin	11.41 %	+6.9 ptsFY Mar 2026 vs FY Mar 2025	Fiscal year	FY ending Mar 2026	(Operating cash flow − fixed-asset purchases + disposals) ÷ revenue.
Revenue growth (YoY)	Unavailable	−1.4 ptsFY Mar 2026 vs FY Mar 2025	Trailing twelve months	TTM to Jun 2026	Not in the analysed materials. No older figure is substituted.

Source: Inve data from filed results; ratios from the Screener-verified panel · to Jun 2026

Guidance

What management said, and what became of it

3 of 4 judged targets kept · 6 open · verdicts reflect calls analysed to Q1 FY27.

Nephrocare Health Services Limited management guidance track record on Inve: 10 targets tracked across analysed earnings calls (3 achieved, 1 missed, 6 open).

Target	Original wording	Said	Latest call	Verdict
International Business Contribution	inching up slowly Call transcript, Q3 FY26 · 18 Feb 2026	Q3 FY26	Q1 FY27:International revenue contribution increased further to 45% in Q1 FY27 from 42% in FY26. Management reiterated that this number will 'continue to inch up slowly'. Call transcript, Q1 FY27 · 12 Aug 2026	Achieved
Annual Capex	Rs. 100-125 crores Call transcript, Q3 FY26 · 18 Feb 2026	Q3 FY26	Q1 FY27:Management did not reference the historical Rs. 100-125 crores range and has previously declined to give FY27 capex guidance. Capex for Q1 FY27 was INR 44 crores, an annualized run-rate of INR 176 crores, suggesting the baseline has shifted upwards to support growth. Call transcript, Q1 FY27 · 12 Aug 2026	Ghosted
New Clinics (Philippines)	12-15 gross new clinics per annum Call transcript, Q4 FY26 · 20 May 2026	Q4 FY26	Q1 FY27:The company added 7 clinics in the Philippines in Q1 FY27, a strong start for the year. However, management revised the annual guidance slightly downwards to '10 to 15 clinics' from the previous '12 to 15'. Call transcript, Q1 FY27 · 12 Aug 2026	Revised Down

Source: Inve Guidance Tracker for Nephrocare Health Services Limited · to Q1 FY27

A verdict describes what became of management’s own words in later analysed calls. “Delayed” is a change of date, “went quiet” a target the calls stopped mentioning. None of it is a judgement on the investment. The methodology sets out how verdicts are recorded.

1 of Nephrocare Health Services Limited's 10 targets was missed. See which ones, and which are quietly gone. The 3 above are the free sample; 7 more targets are in the full ledger.

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See the full record

Price

₹607.4 +1.84% · +₹10.95

Last close 26 Oct 2026 · NSE · INR · Source: Inve

Performance +33.3% YTD

YTD: ₹455.8 on 1 Jan 2026 → ₹607.4. High ₹765.35 (11 Sept 2026), low ₹455.8 (1 Jan 2026).

Previous close: ₹596.45
Market cap: ₹6.1k Cr
52-week range: ₹449.15 – ₹765.35
Price to earnings (TTM to Jun 2026): 71.86×
Return on equity (TTM to Jun 2026): 10.02%

Overview

Symbol: NSE:NEPHROPLUS
Sector: Healthcare
Exchange: NSE
Currency: INR

What Nephrocare Health Services Limited does

Based on the company's own presentations, annual report and earnings calls.

Nephrocare Health Services (NephroPlus) builds and runs dialysis clinics that provide life-sustaining haemodialysis treatment to chronic kidney disease patients, earning fee-per-treatment revenue from guests who visit its centres roughly three times a week. It operates through a mix of formats: captive clinics inside partner hospitals, standalone brownfield/greenfield clinics, and government-backed public-private-partnership (PPP) clinics, supplemented by home haemodialysis and mobile/on-call dialysis services. Beyond India, the company has expanded into the Philippines, Uzbekistan and Nepal, and entered Saudi Arabia through a joint venture, leveraging its India-honed operating playbook to run clinics in hospital, standalone and PPP settings globally.

Segments

India
International

Dialysis clinics operated globally: 524 clinics across India, Philippines, Uzbekistan, Nepal and Saudi Arabia
Global market position: India's and Asia's largest dialysis network; world's 5th largest by treatment volume
India clinic network: 465+ clinics across 290+ cities in 25 states
India organized-market share: Over 50% share of India's organized dialysis market; ~79% of clinics located in Tier II/III cities and towns
International clinic network: 56 clinics across the Philippines (44, second-largest provider in-country), Uzbekistan (6, across 3 provinces) and Nepal
Saudi Arabia joint venture: 51:49 JV with Arabian International Healthcare Holding Company (Tibbiyah); home dialysis license obtained, first clinic in setup

Founded 2010Headquarters Hyderabad, Telangana, India Company website

How the price took the results

close before → close after

Q1 FY27: −4.7%; 12 Aug
Q4 FY26: −5.5%; 20 May
Q3 FY26: −1.1%; 18 Feb

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.

Guidance

What management said, and what became of it

3 of 4 judged targets kept · 6 open · verdicts reflect calls analysed to Q1 FY27.

Nephrocare Health Services Limited management guidance track record on Inve: 10 targets tracked across analysed earnings calls (3 achieved, 1 missed, 6 open).

Target	Original wording	Said	Latest call	Verdict
International Business Contribution	inching up slowly Call transcript, Q3 FY26 · 18 Feb 2026	Q3 FY26	Q1 FY27:International revenue contribution increased further to 45% in Q1 FY27 from 42% in FY26. Management reiterated that this number will 'continue to inch up slowly'. Call transcript, Q1 FY27 · 12 Aug 2026	Achieved
Annual Capex	Rs. 100-125 crores Call transcript, Q3 FY26 · 18 Feb 2026	Q3 FY26	Q1 FY27:Management did not reference the historical Rs. 100-125 crores range and has previously declined to give FY27 capex guidance. Capex for Q1 FY27 was INR 44 crores, an annualized run-rate of INR 176 crores, suggesting the baseline has shifted upwards to support growth. Call transcript, Q1 FY27 · 12 Aug 2026	Ghosted
New Clinics (Philippines)	12-15 gross new clinics per annum Call transcript, Q4 FY26 · 20 May 2026	Q4 FY26	Q1 FY27:The company added 7 clinics in the Philippines in Q1 FY27, a strong start for the year. However, management revised the annual guidance slightly downwards to '10 to 15 clinics' from the previous '12 to 15'. Call transcript, Q1 FY27 · 12 Aug 2026	Revised Down

Source: Inve Guidance Tracker for Nephrocare Health Services Limited · to Q1 FY27

The full ledger

Open Nephrocare Health Services Limited’s full ledger

A free account opens 5 company ledgers a month. All 10 tracked commitments, with each call’s wording and source.

Browse the register

Latest analysed call: Q1 FY27, 12 Aug 2026. 3 calls analysed.

Call summaries

Q1 FY27 — 12 Aug 2026

Nephrocare Health Services Limited Q1 FY27

Nephrocare Health Services Limited reported a strong Q1 FY27, with revenue growing 23.7% to INR282 crores and Adjusted EBITDA increasing 30.7% to INR65 crores, driven by robust patient growth and international expansion. Margins expanded significantly, with Adjusted EBITDA margin at 23.1% and PAT margin at 13.1%. The company continued its network expansion, adding 26 new clinics, and focused on operational efficiencies and technology adoption, though Saudi Arabia remains an investment-heavy market with uncertain timelines.

Read the full call

Q4 FY26 — 20 May 2026

NEPHROPLUS Q4 FY26

Nephroplus delivered a strong Q4 and FY26, with significant revenue and profit growth driven by operational leverage, international expansion, and improved capital efficiency. While Q4 margins were impacted by a one-time ECL provision, the underlying performance remained robust. The company continues to focus on its core dialysis business, leveraging its India platform for global expansion, and maintaining a positive outlook with a 15-20% revenue CAGR guidance for the medium term.

Read the full call

Q3 FY26 — 18 Feb 2026

NEPHROPLUS Q3 FY26

NephroPlus reported robust financial performance for Q3 and 9M FY26, driven by strong revenue and profitability growth across its operations. The company saw significant expansion in adjusted EBITDA and PAT, alongside an improved ROCE. International markets, particularly the Philippines and Uzbekistan, played a crucial role in enhancing revenue per treatment and overall margins, with international contribution rising to 41% of total revenue.

Read the full call

Summaries of each call, in Inve’s own words; the transcript is not reproduced. Not investment advice.

Every analysed call

Nephrocare Health Services Limited earnings calls (NEPHROPLUS)

Fundamentals

Ratios, each with its period

Current values with the period they cover; the trend reads across the 6 fiscal years held (Mar 2021 to Mar 2026).

Trailing twelve months
16.19% TTM to Jun 2026
Fiscal year
15.27% FY ending Mar 2026

Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
2.02% -3.74% 1.28% 8.37% 14.17% 15.27%

How it is calculated. Adjusted EBIT ÷ average capital employed, including minority equity and deposits.
Trailing twelve months
10.02% TTM to Jun 2026
Fiscal year
8.84% FY ending Mar 2026

Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
0.40% -6.56% -3.08% 8.78% 13.51% 8.84%

How it is calculated. Adjusted profit attributable to owners ÷ average owners’ equity.
Trailing twelve months
6.91% TTM to Jun 2026
Fiscal year
6.10% FY ending Mar 2026

Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
0.23% -4.20% -1.94% 4.76% 7.44% 6.10%

How it is calculated. Total profit excluding exceptional items after tax ÷ average total assets.
Trailing twelve months
22.39% TTM to Jun 2026
Fiscal year
22.52% FY ending Mar 2026

Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
12.94% 5.03% 11.21% 17.84% 22.09% 22.52%

How it is calculated. Operating profit ÷ revenue.
Trailing twelve months
8.06% TTM to Jun 2026
Fiscal year
7.51% FY ending Mar 2026

Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
0.35% -6.60% -2.75% 6.18% 8.86% 7.51%

How it is calculated. Total profit excluding exceptional items after tax ÷ revenue.
Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
-10.14% -20.44% -14.42% -1.41% 4.50% 11.41%

How it is calculated. (Operating cash flow − fixed-asset purchases + disposals) ÷ revenue.
Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
— — — 205.71% 201.49% 302.60%

How it is calculated. Operating cash flow ÷ reported total net profit.
Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
21.33% 24.84% 16.93% 14.13% 13.36% 11.91%

How it is calculated. Fixed-asset purchases ÷ revenue.
Trailing twelve months
— TTM to Jun 2026
Fiscal year
32.14% FY ending Mar 2026

Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
— 11.19% 37.42% 29.52% 33.57% 32.14%

How it is calculated. Revenue change against the same period one year earlier.
Trailing twelve months
— TTM to Jun 2026
Fiscal year
11.94% FY ending Mar 2026

Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
— — — — 91.43% 11.94%

How it is calculated. Adjusted profit attributable to owners vs the same period one year earlier.
Trailing twelve months
— TTM to Jun 2026
Fiscal year
34.73% FY ending Mar 2026

Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
— -56.76% 206.25% 106.12% 65.35% 34.73%

How it is calculated. Operating profit vs the same period one year earlier.
Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
0.57× 0.30× 0.52× 0.66× 0.45× 0.07×

How it is calculated. Borrowings ÷ owners’ equity.
Trailing twelve months
2.95× TTM to Jun 2026
Fiscal year
2.59× FY ending Mar 2026

Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
1.14× -1.70× 0.44× 2.65× 5.14× 2.59×

How it is calculated. Adjusted EBIT ÷ interest expense.
Trailing twelve months
0.86× TTM to Jun 2026
Fiscal year
0.81× FY ending Mar 2026

Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
0.67× 0.64× 0.71× 0.77× 0.84× 0.81×

How it is calculated. Revenue ÷ average total assets.
Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
₹75.00 Cr ₹-24.00 Cr ₹73.00 Cr ₹210.00 Cr ₹106.00 Cr ₹-175.00 Cr

How it is calculated. Borrowings less cash equivalents.
Trailing twelve months
-0.67× TTM to Jun 2026
Fiscal year
-0.71× FY ending Mar 2026

Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
1.79× -0.96× 1.35× 1.93× 0.59× -0.71×

How it is calculated. (Borrowings − cash equivalents) ÷ adjusted EBITDA.
Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
1.73× 1.27× 1.60× 1.79× 1.55× 1.10×

How it is calculated. Average total assets ÷ closing owners’ equity.
Trailing twelve months
71.86× TTM to Jun 2026
Fiscal year
81.44× FY ending Mar 2026

Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
— — — — — —

How it is calculated. Current market cap ÷ adjusted profit attributable to owners for the selected income period. Uses current market cap, not the share price at the period end.
Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
— — — — — —

How it is calculated. Market cap ÷ owners’ equity from the balance sheet selected for the TTM inputs. Uses current market cap, not the share price at the period end.
Trailing twelve months
22.73× TTM to Jun 2026
Fiscal year
24.06× FY ending Mar 2026

Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
— — — — — —

How it is calculated. (Market cap + borrowings + deposits − cash equivalents) ÷ adjusted EBITDA. Uses current market cap, not the share price at the period end.
Trailing twelve months
2.78% TTM to Jun 2026
Fiscal year
2.62% FY ending Mar 2026

Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
— — — — — —

How it is calculated. Adjusted EBIT ÷ enterprise value. Uses current market cap, not the share price at the period end.
Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
101.00 days 123.00 days 132.00 days 131.00 days 129.00 days 116.00 days

How it is calculated. Reported receivable days from the annual accounts.
Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
110.00 days 103.00 days 137.00 days 131.00 days 129.00 days 116.00 days

How it is calculated. Reported debtor days plus inventory days less payable days.
Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
26.00 days 55.00 days 19.00 days 56.00 days 27.00 days 42.00 days

How it is calculated. Reported net working capital days from the annual accounts.
Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
0.00% 0.00% 0.00% 0.00% 0.00% 0.00%

How it is calculated. Reported dividend payout as a percentage of annual profit.
Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
— — — — — —

How it is calculated. Market capitalisation from the current stock record.

Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
2.02%	-3.74%	1.28%	8.37%	14.17%	15.27%

Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
0.40%	-6.56%	-3.08%	8.78%	13.51%	8.84%

Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
0.23%	-4.20%	-1.94%	4.76%	7.44%	6.10%

Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
12.94%	5.03%	11.21%	17.84%	22.09%	22.52%

Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
0.35%	-6.60%	-2.75%	6.18%	8.86%	7.51%

Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
-10.14%	-20.44%	-14.42%	-1.41%	4.50%	11.41%

Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
—	—	—	205.71%	201.49%	302.60%

Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
21.33%	24.84%	16.93%	14.13%	13.36%	11.91%

Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
—	11.19%	37.42%	29.52%	33.57%	32.14%

Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
—	—	—	—	91.43%	11.94%

Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
—	-56.76%	206.25%	106.12%	65.35%	34.73%

Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
0.57×	0.30×	0.52×	0.66×	0.45×	0.07×

Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
1.14×	-1.70×	0.44×	2.65×	5.14×	2.59×

Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
0.67×	0.64×	0.71×	0.77×	0.84×	0.81×

Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
₹75.00 Cr	₹-24.00 Cr	₹73.00 Cr	₹210.00 Cr	₹106.00 Cr	₹-175.00 Cr

Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
1.79×	-0.96×	1.35×	1.93×	0.59×	-0.71×

Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
1.73×	1.27×	1.60×	1.79×	1.55×	1.10×

Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
—	—	—	—	—	—

Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
—	—	—	—	—	—

Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
—	—	—	—	—	—

Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
—	—	—	—	—	—

Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
101.00 days	123.00 days	132.00 days	131.00 days	129.00 days	116.00 days

Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
110.00 days	103.00 days	137.00 days	131.00 days	129.00 days	116.00 days

Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
26.00 days	55.00 days	19.00 days	56.00 days	27.00 days	42.00 days

Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
—	—	—	—	—	—

A dash means inputs are missing or too old, the ratio does not apply, or the value is outside the supported range. FY uses the reported fiscal period; TTM the latest twelve months; valuations use the current market cap with the chosen earnings period. Screen Indian stocks on these ratios →

Financials

What the filings say

Net profit, year on year: +33% (quarter to jun 2026 against jun 2025).

In ₹ crore. Oldest period first.

Line item	Dec 2024	Mar 2025	Jun 2025	Sept 2025	Dec 2025	Mar 2026	Jun 2026
Sales	197	219	228	246	260	266	282
Expenses	153	168	180	182	199	215	221
Operating profit	44	51	48	64	61	51	60
Operating margin	22.0%	23.0%	21.0%	26.0%	23.0%	19.0%	21.0%
Other income	5	4	7	4	3	12	7
Interest	5	6	6	45	6	3	2
Depreciation	18	19	20	23	22	26	25
Profit before tax	26	30	29	-1	36	33	41
Tax rate	24.0%	17.0%	17.0%	1427.0%	11.0%	9.0%	22.0%
Net profit	20	25	24	-9	32	30	32
EPS (₹ per share)	19.34	23.91	13.10	-5.24	3.21	3.03	3.19

Source: Inve data · income statement, quarterly · to Jun 2026

In ₹ crore. Oldest period first.

Line item	Mar 2026
Sales	1,000
Expenses	776
Operating profit	224
Other income	26
Interest	60
Depreciation	91
Profit before tax	97
Net profit	77

Source: Inve data · income statement, annual · to Mar 2026

In ₹ crore. Oldest period first.

Line item	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Sept 2025	Mar 2026
Equity capital	2	2	2	2	4	20
Reserves	391	384	409	579	713	1,096
Borrowings	119	200	271	261	261	80
Other liabilities	59	81	124	153	215	271
Total liabilities	571	666	806	994	1,194	1,467
Fixed assets	205	239	356	396	475	517
Capital work in progress	43	34	1	6	11	6
Investments	0	0	0	51	123	178
Other assets	322	393	449	542	585	767
Total assets	571	666	806	994	1,194	1,467

Source: Inve data · balance sheet · to Mar 2026

In ₹ crore. Oldest period first.

Line item	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Cash from operations	32	14	11	72	135	233
Cash from investing	-62	-130	-76	-52	-125	-392
Cash from financing	36	121	60	27	54	157
Net cash flow	5	6	-4	47	65	-2
Free cash flow	-29	-64	-62	-8	35	113

Source: Inve data · cash flow · to Mar 2026

In days and %. Oldest period first.

Line item	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Debtor days	101	123	132	131	129	116
Inventory days	65	50	67	—	—	—
Days payable	56	70	63	—	—	—
Cash conversion cycle	110	103	137	131	129	116
Working capital days	26	55	19	56	27	42
Return on capital employed	—	−4.0%	1.0%	8.0%	14.0%	15.0%
Dividend payout	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%

Source: Inve data · annual ratios · to Mar 2026

Ownership

Who owns it

Promoters hold 58.32% as of Sept 2026; institutions added 2.01 pts since Jun 2026.

Promoters −5.53 pts 58.32%
Foreign institutions +2.95 pts 11.73%
Domestic institutions −0.94 pts 8.11%
Public +3.55 pts 21.85%

56,735 shareholders on the register.

Source: Exchange shareholding filings · to Sept 2026 · 4 filings held

Who was buying across the market this quarter

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.

Global fund house +2.52 pp 8.28% 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 Sep 2026 filing

Every holder of Nephrocare Health Services Limited above SEBI's 1% disclosure line, and what changed since Jun 2026.

Holder	Stake	Change
	26.56%	−1.74 pp
	9.41%	−0.38 pp
Global fund house	8.28%	+2.52 pp
	8.04%	−0.62 pp
	6.27%	unchanged
	4.89%	−0.91 pp
	4.48%	−0.84 pp
NBFC / DFI	3.07%	unchanged
Insurer	1.91%	unchanged
	1.76%	−0.12 pp
	1.38%	−0.47 pp
Mutual fund	1.30%	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 NEPHROPLUS

Filings to Sep 2026

0 new, 0 added, 1 trimmed, 0 sold out — net −3.13 L shares (−22.5%).

Held by funds: ₹71 Cr; 2 schemes
Biggest holder: SBI Healthcare Opportunities Fund; ₹66 Cr · 1.1% of that fund

Scheme	Holding	Last month	Held since
SBI Healthcare Opportunities Fund SBI Mutual Fund	₹66 Cr	held	Dec '25
SBI Children's Fund - Investment Plan (Erstwhile known as SBI Magnum Children's Benefit Fund- IP) SBI Mutual Fund	₹5 Cr	−3.13 L	Dec '25

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 Sep 2026

0 added, 1 trimmed — net −3.13 L shares (−22.5%)

Funds are sitting on: +19%; vs est. average cost
Held by funds: ₹71 Cr; 2 schemes · ≈ 1.1% of the company
Biggest holder: SBI Healthcare Opportunities Fund; ₹66 Cr · 1.1% of that fund

Shares held by these funds −8%

Dec '25 10.79 L shares Sep '26

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