Metropolis Healthcare Ltd
Metropolis Healthcare Ltd
Healthcare ServicesKey Fundamentals
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BetaAI-extracted from concalls & annual reports · figures as reported, with sources
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54 extracted metrics + investor summaries across FY15–FY26.
Tapetide Score
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Technical Indicators
Key Insights
Weaknesses
3- Stock is trading at 7.56 times its book value
- The company has delivered a poor sales growth of 10.5% over past five years.
- Company has a low return on equity of 12.4% over last 3 years.
Growth Rate
AI Analysis — Bull vs Bear
Metropolis Healthcare trades at a market cap of ₹12,199 crore with a PE of 64.7x and PB of 8.2x. FY25 revenue reached ₹1,331 crore (up 12% YoY) while TTM sales growth has accelerated to 24%, though 5-year compounded profit growth stands at just 1% and 3-year ROE averages 12%.
- TTM revenue growth has accelerated sharply to 24% YoY, significantly above the 5-year CAGR of 11%, indicating improving business momentum
- TTM profit growth of 42% substantially outpaces revenue growth, suggesting operating leverage and margin expansion are materializing
- Q3 FY26 revenue grew 26% YoY to ₹406 crore with EBITDA growth of 29.3% and net profit surging 63% YoY to ₹51 crore
- Patient and test volumes grew 14% and 13% YoY respectively in Q3 FY26, showing organic demand strength beyond acquisitions
- B2C revenues grew 19% YoY and B2B revenues grew ~35% YoY in Q3 FY26, demonstrating broad-based channel expansion
- Management has guided for 25-26% total revenue growth in FY26 with 100 bps organic margin expansion, indicating confidence in sustained momentum
- India's organized diagnostics sector holds only 20-25% market share, leaving a large runway for consolidation by top-3 chains like Metropolis
- Strategic acquisitions including Core Diagnostics are expected to be EPS accretive from year one, expanding presence in North India and specialized testing
- PE ratio of 64.7x is demanding for a company that delivered only 1% compounded profit CAGR over the past 5 years
- Stock trades at 8.2x book value despite a modest 3-year average ROE of just 12%, indicating pricing far exceeds capital efficiency
- 5-year stock CAGR is negative at -5%, meaning long-term shareholders have seen capital erosion despite business growth
- 5-year compounded sales growth of only 10.5-11% is pedestrian for a mid-cap healthcare company commanding premium valuations
- Q4 FY25 net profit declined 19% YoY to ₹29 crore, showing earnings can still be volatile quarter-to-quarter
- CORE Diagnostics acquisition dilutes group EBITDA margins to 23.4% versus the organic margin profile, with normalization expected only in 2-3 years
- Metropolis holds an estimated 4-6% market share in a highly fragmented market, competing against larger Dr Lal PathLabs (market cap ₹20,715 crore) with scale advantages
- Dividend yield of just 0.84% offers minimal income cushion against the stock's volatility at current elevated valuations
This is AI-generated analysis, not financial advice. Do your own due diligence.
AI News Digest
- FY26 PAT surges 31% Jul 28
Net profit rose 31% to ₹191 crore on consolidated revenue of ₹1,646 crore (up 24% YoY), driven by specialty diagnostics growth and successful acquisition integration.
- Q1FY27 revenue up 16% YoY Jul 07
Q1 FY27 revenue grew 16% YoY with higher patient volumes and improved realizations. EBITDA margins improved YoY, with Truhealth Wellness and Specialty segments as standout performers.
- Q1FY27 earnings call Aug 5 Jul 28
Metropolis Healthcare will host its Q1FY27 earnings conference call on August 5, 2026, at 09:00 AM IST, organized by JM Financial.
- FY26 BRSR report filed Jul 27
Company submitted its Business Responsibility and Sustainability Report for FY26, covering ESG targets, workforce diversity, and environmental initiatives across its diagnostic network.
TL;DR: Metropolis Healthcare is delivering strong growth with FY26 revenue up 24% and PAT up 31%, while Q1FY27 momentum continues at 16% YoY revenue growth with margin improvement. No material headwinds are visible in recent news flow. The company appears to be executing well on acquisition integration and specialty diagnostics expansion, and the upcoming earnings call on Aug 5 could provide further clarity on sustaining this trajectory.
Quarterly Results
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 277 | 308 | 291 | 331 | 313 | 350 | 323 | 345 | 386 | 429 | 406 | 425 | 450 |
| Expenses | 214 | 234 | 226 | 251 | 235 | 260 | 251 | 283 | 296 | 321 | 311 | 317 | 339 |
| Operating Profit | 63 | 75 | 65 | 80 | 79 | 90 | 72 | 62 | 90 | 108 | 95 | 108 | 111 |
| OPM % | 23% | 24% | 22% | 24% | 25% | 26% | 22% | 18% | 23% | 25% | 23% | 25% | 25% |
| Other Income | 3 | 1 | 2 | 3 | 2 | 3 | 3 | 7 | 8 | 1 | 0 | 8 | 5 |
| Interest | 6 | 6 | 5 | 6 | 5 | 5 | 5 | 5 | 5 | 6 | 6 | 8 | 6 |
| Depreciation | 21 | 22 | 25 | 26 | 26 | 27 | 28 | 29 | 31 | 32 | 32 | 39 | 32 |
| PBT | 39 | 48 | 37 | 51 | 51 | 61 | 42 | 36 | 61 | 71 | 57 | 70 | 78 |
| Tax % | 26% | 26% | 26% | 28% | 25% | 24% | 26% | 19% | 26% | 26% | 26% | 27% | 27% |
| Net Profit | 29 | 36 | 27 | 37 | 38 | 47 | 31 | 29 | 45 | 53 | 42 | 51 | 57 |
| EPS in Rs | 1.41 | 1.73 | 1.33 | 1.78 | 1.85 | 2.27 | 1.53 | 1.41 | 2.17 | 2.54 | 2 | 2.46 | 2.73 |
Profit & Loss
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 456 | 475 | 545 | 647 | 761 | 856 | 998 | 1,228 | 1,148 | 1,208 | 1,331 | 1,646 | 1,710 |
| Expenses | 339 | 359 | 405 | 467 | 559 | 619 | 708 | 880 | 855 | 920 | 1,023 | 1,240 | 1,288 |
| Operating Profit | 117 | 116 | 140 | 181 | 203 | 237 | 290 | 348 | 293 | 288 | 308 | 406 | 422 |
| OPM % | 26% | 24% | 26% | 28% | 27% | 28% | 29% | 28% | 26% | 24% | 23% | 25% | 25% |
| Other Income | 7 | 29 | 39 | 6 | 8 | -17 | 12 | 34 | 15 | 9 | 15 | 16 | 14 |
| Interest | 2 | 2 | 2 | 4 | 4 | 13 | 12 | 25 | 32 | 28 | 24 | 29 | 26 |
| Depreciation | 21 | 17 | 17 | 19 | 20 | 39 | 46 | 63 | 89 | 94 | 109 | 134 | 135 |
| PBT | 101 | 128 | 160 | 164 | 187 | 169 | 244 | 293 | 188 | 175 | 191 | 259 | 276 |
| Tax % | 33% | 36% | 33% | 32% | 34% | 24% | 25% | 27% | 24% | 26% | 24% | 26% | — |
| Net Profit | 68 | 82 | 107 | 112 | 124 | 128 | 183 | 215 | 143 | 128 | 146 | 191 | 203 |
| EPS in Rs | 15.44 | 20.1 | 26.61 | 27.29 | 5.99 | 6.29 | 8.95 | 10.46 | 6.98 | 6.24 | 7 | 9.17 | 9.73 |
| Div. Payout % | 0% | 100% | 49% | 0% | 55% | 32% | 22% | 19% | 29% | 16% | 0% | 55% | — |
Balance Sheet
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 10 | 41 |
| Reserves | 352 | 269 | 314 | 405 | 408 | 513 | 696 | 876 | 978 | 1,086 | 1,321 | 1,472 |
| Borrowings | 14 | 5 | 1 | 1 | 18 | 67 | 112 | 379 | 266 | 197 | 204 | 232 |
| Other Liabilities | 87 | 107 | 188 | 110 | 113 | 160 | 181 | 256 | 240 | 254 | 324 | 386 |
| Total Liabilities | 462 | 391 | 512 | 526 | 550 | 750 | 1,000 | 1,521 | 1,495 | 1,547 | 1,859 | 2,131 |
| Fixed Assets | 153 | 142 | 202 | 207 | 213 | 296 | 343 | 1,059 | 1,121 | 1,177 | 1,447 | 1,601 |
| CWIP | 0 | 1 | 1 | 0 | 6 | 3 | 0 | 6 | 20 | 0 | 0 | 0 |
| Investments | 168 | 101 | 142 | 102 | 33 | 14 | 10 | 16 | 15 | 55 | 71 | 142 |
| Other Assets | 141 | 147 | 167 | 216 | 298 | 437 | 647 | 440 | 340 | 316 | 341 | 387 |
| Total Assets | 462 | 391 | 512 | 526 | 550 | 750 | 1,000 | 1,521 | 1,495 | 1,547 | 1,859 | 2,131 |
Cash Flow
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating | 69 | 91 | 102 | 104 | 90 | 215 | 249 | 253 | 247 | 264 | 263 | 351 |
| Investing | -56 | 96 | -86 | 1 | 36 | -104 | 63 | -736 | 48 | -89 | -199 | -220 |
| Financing | -9 | -174 | -17 | -87 | -118 | -55 | -33 | 163 | -292 | -181 | -87 | -115 |
| Net Cash Flow | 4 | 14 | -1 | 18 | 8 | 56 | 279 | -321 | 3 | -6 | -23 | 15 |
| Free Cash Flow | 46 | 79 | 45 | 90 | 67 | 179 | 221 | 223 | 195 | 200 | 196 | 300 |
| CFO/OP | 87 | 113 | 109 | 89 | 78 | 118 | 106 | 96 | 102 | 105 | 99 | 98 |
Ratios
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 57 | 54 | 54 | 57 | 66 | 55 | 45 | 40 | 39 | 38 | 41 | 38 |
| Inventory Days | 52 | 46 | 38 | 53 | 55 | 44 | 59 | 68 | 64 | 58 | 65 | 51 |
| Days Payable | 92 | 96 | 97 | 88 | 90 | 152 | 160 | 136 | 136 | 150 | 171 | 146 |
| Cash Conversion Cycle | 17 | 3 | -5 | 21 | 30 | -54 | -56 | -29 | -33 | -53 | -65 | -57 |
| Working Capital Days | 32 | 8 | -27 | 28 | 33 | 2 | -9 | -26 | -22 | -16 | -18 | -15 |
| ROCE % | 28% | 34% | 46% | 43% | 43% | 40% | 36% | 29% | 17% | 16% | 15% | 18% |
Documents
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Company Information
Metropolis Healthcare Limited is one of the leading Indian diagnostics companies. The Company owns a chain of diagnostic centres across India, South Asia, Africa and the Middle East.