---
title: "Healthfore Technologies Ltd (533525) — Share Price, Financials & Analysis"
symbol: "533525"
company: "Healthfore Technologies Ltd"
canonical: "https://tapetide.com/stocks/533525"
isin: "INE402L01017"
bse_code: "533525"
sector: "Information Technology"
industry: "IT - Software"
generated_at: "2026-10-13T11:00:52.457Z"
---

# Healthfore Technologies Ltd (533525)

Canonical page: https://tapetide.com/stocks/533525

## Company

- **BSE Code:** 533525
- **ISIN:** INE402L01017
- **Sector:** Information Technology
- **Industry:** IT - Software
- **Macro Sector:** Information Technology
- **Stock Type:** EQUITY
- **Listed Since:** 2011-08-22
- **Face Value:** ₹10
- **F&O Eligible:** No
- **Website:** healthfore.com

## About

HealthFore Technologies Ltd is engaged in the IT services, knowledge services and healthcare services.

## Latest Price

## Key Insights

### Weaknesses

- Company has low interest coverage ratio.
- The company has delivered a poor sales growth of -22.5% over past five years.
- Company has high debtors of 236 days.

## Growth Rates

| Metric | 1Y | 3Y | 5Y |
| --- | --- | --- | --- |
| net income growth | 24% | -14% | -6% |
| revenue growth | -56% | -14% | -23% |

## Financial Statements

### Quarterly Results

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2015 | Jun 2015 | Sep 2015 | Dec 2015 | Mar 2016 | Jun 2016 | Sep 2016 | Dec 2016 | Mar 2017 | Jun 2017 | Sep 2017 | Dec 2017 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 4 | 3 | 3 | 3 | 10 | 8 | 3 | 5 | 2 | 4 | 4 | 2 |
| Expenses | 5 | 5 | 5 | 4 | 8 | 7 | 6 | 5 | 3 | 3 | 4 | 4 |
| Operating Profit | 0 | -2 | -2 | -1 | 2 | 1 | -3 | 0 | -2 | 1 | 0 | -2 |
| OPM % | -8 | -74 | -85 | -50 | 19 | 12 | -125 | 9 | -119 | 26 | -3.1 | -76 |
| Other Income | 2 | 2 | 1 | 1 | 0 | 0 | 0 | 0 | 0 | 64 | 0 | 0 |
| Interest | 17 | 17 | 17 | 17 | 18 | 20 | 20 | 20 | 21 | 19 | 8 | 8 |
| Depreciation | 2 | 1 | 1 | 1 | 1 | 2 | 2 | 2 | 1 | 1 | 1 | 1 |
| Profit before tax | -17 | -18 | -20 | -19 | -17 | -20 | -25 | -21 | -24 | 45 | -9 | -11 |
| Tax % | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Profit | -17 | -18 | -20 | -19 | -17 | -20 | -25 | -21 | -24 | 45 | -9 | -11 |
| EPS in Rs | -20.36 | -22.49 | -24.02 | -23.31 | -20.71 | -24.22 | -30.31 | -25.67 | -29.28 | 55.45 | -11.05 | -13.92 |

### Profit & Loss

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2010 | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | TTM |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 125.17 | 93.52 | 61.92 | 21.22 | 27.25 | 19.83 | 18.36 | 17.31 | 11.31 |
| Expenses | 156.11 | 134.91 | 85.29 | 37.24 | 35.56 | 20.86 | 22.06 | 20.88 | 13.68 |
| Operating Profit | -30.94 | -41.39 | -23.37 | -16.02 | -8.31 | -1.03 | -3.7 | -3.57 | -2.37 |
| OPM % | -24.72 | -44.26 | -37.74 | -75.49 | -30.5 | -5.19 | -20.15 | -20.62 | -20.95 |
| Other Income | 1.52 | 1.03 | 14.69 | 9.91 | 2.31 | 10.6 | 4.5 | 1.32 | 64.97 |
| Interest | 6.79 | 17.51 | 47.3 | 49.13 | 46.93 | 61.38 | 68.79 | 80.74 | 55.74 |
| Depreciation | 4.22 | 12.3 | 16.95 | 12.65 | 12.64 | 7.79 | 5.61 | 5.98 | 5.89 |
| Profit before tax | -40.43 | -70.17 | -72.93 | -67.89 | -65.57 | -59.6 | -73.6 | -88.97 | 0.97 |
| Tax % | 0.35 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | — |
| Net Profit | -40.57 | -70.17 | -72.93 | -67.89 | -65.57 | -59.6 | -73.6 | -88.97 | 0.98 |
| EPS in Rs | — | -86.32 | -89.71 | -83.51 | -80.66 | -73.31 | -90.53 | -109.44 | 1.2 |
| Dividend Payout % | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | — |

### Balance Sheet

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2010 | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Equity Capital | 8.13 | 8.13 | 8.13 | 8.13 | 8.13 | 8.13 | 8.13 | 8.13 |
| Reserves | -51.26 | -121.43 | -194.36 | -262.25 | -327.82 | -387.6 | -461.21 | -550.18 |
| Borrowings | 35.01 | 208.67 | 392.18 | 316.17 | 393.23 | 507.52 | 529.52 | 588.87 |
| Other Liabilities | 105.19 | 30.16 | 23.22 | 18.25 | 12.07 | 18.69 | 21.73 | 54.69 |
| Total Liabilities | 97.07 | 125.53 | 229.17 | 80.3 | 85.61 | 146.74 | 98.17 | 101.51 |
| Fixed Assets | 38.04 | 47.03 | 30.39 | 16.33 | 13.35 | 32.35 | 38.09 | 32.49 |
| CWIP | 0.16 | 0 | 5.19 | 14.54 | 15.08 | 0.01 | 0 | 11.5 |
| Investments | 3.09 | 3.09 | 3.09 | 3.09 | 4.41 | 0 | 0 | 0 |
| Other Assets | 55.78 | 75.41 | 190.5 | 46.34 | 52.77 | 114.38 | 60.08 | 57.52 |
| Total Assets | 97.07 | 125.53 | 229.17 | 80.3 | 85.61 | 146.74 | 98.17 | 101.51 |

### Cash Flow

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2010 | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Cash from Operating Activity | 54.64 | -73.16 | -30.1 | -15.25 | 9.37 | -48.94 | 59.77 | 64.91 |
| Cash from Investing Activity | -29.51 | -21.85 | -112.8 | 137.02 | -16.37 | -9.33 | -7.96 | -11.43 |
| Cash from Financing Activity | -25.4 | 100.87 | 139.52 | -123.51 | 8.93 | 57.09 | -52.01 | -55.17 |
| Net Cash Flow | -0.27 | 5.86 | -3.38 | -1.74 | 1.93 | -1.18 | -0.2 | -1.69 |
| Free Cash Flow | 28.22 | -94.41 | -38.16 | -23.27 | -1.25 | -61.02 | 48.4 | 53.01 |
| CFO/OP | -177 | 177 | 129 | 95 | -113 | 4751 | -1615 | -1818 |

### Ratios

| Item | Mar 2010 | Mar 2011 | Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Debtor Days | 88.18 | 88.28 | 69.85 | 116.62 | 137.7 | 230.45 | 247.31 | 235.74 |
| Inventory Days | 19.28 | 32.08 | 35.78 | 276.58 | 91.25 | — | — | — |
| Days Payable | 139.95 | 66.91 | 32.31 | 215.37 | 165.31 | — | — | — |
| Cash Conversion Cycle | -32.49 | 53.45 | 73.32 | 177.83 | 63.64 | 230.45 | 247.31 | 235.74 |
| Working Capital Days | -147.35 | -115.14 | -810.76 | -5272.2 | -2552.72 | -3256.65 | -5997.65 | -9554.52 |
| ROCE % | — | -120.44 | -15.31 | -13.94 | -27.01 | 0.32 | -4.68 | -13.34 |

## Shareholding Pattern

### annual

| Category | Mar 2017 | Mar 2018 | Jun 2018 |
| --- | --- | --- | --- |
| Promoters | 49.44% | 49.44% | 49.44% |
| FIIs | 3.04% | 1.9% | 1.86% |
| Public | 47.52% | 48.67% | 48.71% |
| No. of Shareholders | 12672 | 11321 | 11321 |

### Quarterly

| Category | Jun 2016 | Sep 2016 | Dec 2016 | Mar 2017 | Jun 2017 | Sep 2017 | Dec 2017 | Mar 2018 | Jun 2018 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Promoters | 49.44% | 49.44% | 49.44% | 49.44% | 49.44% | 49.44% | 49.44% | 49.44% | 49.44% |
| FIIs | 3.04% | 3.04% | 3.04% | 3.04% | 2.09% | 2.05% | 2.05% | 1.9% | 1.86% |
| Public | 47.52% | 47.52% | 47.52% | 47.52% | 48.47% | 48.51% | 48.51% | 48.67% | 48.71% |
| No. of Shareholders | 12866 | 12819 | 12759 | 12672 | 12536 | 12543 | 12483 | 11321 | 11321 |

## Filings & Documents

### Other Documents

| Date | Document |
| --- | --- |
| 2026-03-09 | [Board Meeting Intimation for Raising Funds Through Qualified Institutions Placement Or Through Any Other Permissible Modes As Permitted Under Applicable Laws By Issuance Of Securities.](https://www.bseindia.com/xml-data/corpfiling/AttachLive/1680088e-d5bb-4277-83f0-6792e0b1d0e1.pdf) |
| 2026-03-02 | [Shareholder Meeting / Postal Ballot-Scrutinizer"s Report](https://www.bseindia.com/xml-data/corpfiling/AttachHis/75a826bf-cfe5-48bb-bd35-d6ee5fe3fcfa.pdf) |
| 2026-03-02 | [Shareholder Meeting / Postal Ballot-Outcome of Postal_Ballot](https://www.bseindia.com/xml-data/corpfiling/AttachHis/483039a4-4867-4091-b6e2-ed47ccdfd47a.pdf) |
| 2026-02-14 | [Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation](https://www.bseindia.com/xml-data/corpfiling/AttachHis/56d17d68-c759-4ff8-a49f-8d2902c71f06.pdf) |
| 2026-02-10 | [Intimation Of Incorporation Of Wholly Owned Subsidiary Company Under Regulation 30 Of SEBI (LODR) Regulation, 2015.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/c3265310-bb68-4cab-9bd9-9ed017a21417.pdf) |
| 2026-02-04 | [Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation](https://www.bseindia.com/xml-data/corpfiling/AttachHis/d97fcb4e-ebf7-4bc9-af9a-e53d96a8920f.pdf) |
| 2026-01-31 | [Announcement under Regulation 30 (LODR)-Newspaper Publication](https://www.bseindia.com/xml-data/corpfiling/AttachHis/62bbd758-16fb-4302-ab54-1182764fc124.pdf) |
| 2026-01-31 | [Announcement under Regulation 30 (LODR)-Earnings Call Transcript](https://www.bseindia.com/xml-data/corpfiling/AttachHis/16557a4b-b53a-485a-a976-ae19c34f377d.pdf) |
| 2018-08-14 | [Revised Disclosures under Reg. 29(2) of SEBI (SAST) Regulations, 2011](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=83769211_F3B3_4DAB_A8C8_79706FE8994F_193124.pdf) |
| 2018-08-14 | [Revised Disclosures under Reg. 29(2) of SEBI (SAST) Regulations, 2011](https://www.bseindia.com/xml-data/corpfiling/CorpAttachment/2018/8/83769211_F3B3_4DAB_A8C8_79706FE8994F_193124.pdf) |

### Annual Reports

| Date | Document |
| --- | --- |
| 2025 | [Financial Year 2025](https://www.bseindia.com/xml-data/corpfiling/AttachHis/6b06dce5-8466-4194-bfec-d9845cb1a1dc.pdf) |
| 2024 | [Financial Year 2024](https://www.bseindia.com/xml-data/corpfiling/AttachHis/091c5c71-75dc-4be4-9241-b4e1324fee48.pdf) |
| 2023 | [Financial Year 2023](https://www.bseindia.com/xml-data/corpfiling/AttachHis/b90cced9-918a-4bf3-a324-aa121ef33557.pdf) |
| 2022 | [Financial Year 2022](https://www.bseindia.com/bseplus/AnnualReport/541974/74675541974.pdf) |
| 2021 | [Financial Year 2021](https://www.bseindia.com/bseplus/AnnualReport/541974/71852541974.pdf) |
| 2020 | [Financial Year 2020](https://www.bseindia.com/bseplus/AnnualReport/541974/66230541974.pdf) |
| Mar 2019 | [Financial Year 2019](https://www.bseindia.com/bseplus/AnnualReport/541974/5419740319.pdf) |
| Mar 2017 | [Annual Report 2017](https://www.bseindia.com/bseplus/AnnualReport/533525/5335250317.pdf) |
| Mar 2016 | [Annual Report 2016](https://www.bseindia.com/bseplus/AnnualReport/533525/5335250316.pdf) |
| Mar 2015 | [Annual Report 2015](https://www.bseindia.com/bseplus/AnnualReport/533525/5335250315.pdf) |

### Earnings Call Documents

| Date | Document |
| --- | --- |
| Jan 2026 | [Concall - Jan 2026](https://www.bseindia.com/xml-data/corpfiling/AttachHis/16557a4b-b53a-485a-a976-ae19c34f377d.pdf) |
| Oct 2025 | [Concall - Oct 2025](https://www.bseindia.com/xml-data/corpfiling/AttachHis/6498dfed-92dd-4e1e-b71f-2a58bc35b1a0.pdf) |
| Jul 2025 | [Concall - Jul 2025](https://www.bseindia.com/xml-data/corpfiling/AttachHis/167c379e-2f1b-4570-ae98-b47189ef47e0.pdf) |
| May 2025 | [Concall - May 2025](https://www.bseindia.com/xml-data/corpfiling/AttachHis/54157b16-3124-4961-b2e2-632bb017abfc.pdf) |
| Jan 2025 | [Concall - Jan 2025](https://nsearchives.nseindia.com/corporate/MANORAMA_27012025193245_SignedIntimationoftranscript.pdf) |
| Oct 2024 | [Concall - Oct 2024](https://www.bseindia.com/xml-data/corpfiling/AttachHis/e4d46ac6-8fad-444d-8eed-560ec23a8195.pdf) |
| Aug 2024 | [Concall - Aug 2024](https://www.bseindia.com/xml-data/corpfiling/AttachHis/51958b9f-8608-4f15-92fe-a3cc37602148.pdf) |
| May 2024 | [Concall - May 2024](https://www.bseindia.com/xml-data/corpfiling/AttachHis/4d41eb99-a0b6-420c-a15f-01cd57f891fc.pdf) |
| Feb 2024 | [Concall - Feb 2024](https://www.bseindia.com/xml-data/corpfiling/AttachHis/b0450988-b7b2-40a4-8394-aa13964e181e.pdf) |
| Nov 2023 | [Concall - Nov 2023](https://www.bseindia.com/xml-data/corpfiling/AttachHis/7d30e493-21b7-4405-889b-d908e690adcc.pdf) |

### Credit Rating Reports

| Date | Document |
| --- | --- |
| 2026-07-06 | Credit rating update — CARE Ratings |
| 2025-08-08 | Credit rating update — India Ratings |
| 2025-08-06 | Credit rating update — India Ratings |
| 2025-05-20 | Credit rating update — CARE Ratings |
| 2025-01-27 | Credit rating update — CARE Ratings |
| 2024-05-07 | Credit rating update — India Ratings |
| 2024-04-03 | Credit rating update — India Ratings |
| 2024-03-27 | Credit rating update — CARE Ratings |
| 2024-01-12 | Credit rating update — CARE Ratings |
| 2023-01-04 | Credit rating update — CARE Ratings |

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Provenance differs by section. Financial statements, shareholding and filings are as reported in company disclosures to NSE/BSE/SEBI. Price, volume and 52-week levels are exchange market data. Technical indicators are computed by Tapetide from daily closing prices. The Tapetide Score is Tapetide's own analysis. Analyst ratings are third-party estimates, not company statements. All figures are for research and information only and are not investment advice. Generated 2026-10-13T11:00:52.457Z.