Healthcare Services
Valuation | |
|---|---|
| Market Cap | 7.92 kCr |
| Price/Earnings (Trailing) | 415.93 |
| Price/Sales (Trailing) | 3.17 |
| EV/EBITDA | 18.95 |
| Price/Free Cashflow | 91.09 |
| MarketCap/EBT | 205.97 |
| Enterprise Value | 8.64 kCr |
Fundamentals | |
|---|---|
Growth & Returns | |
|---|---|
| Price Change 1W | -4.6% |
| Price Change 1M | -12.2% |
| Price Change 6M | -17.6% |
| Price Change 1Y | 7.1% |
| 3Y Cumulative Return | 25.8% |
| 5Y Cumulative Return | 29.7% |
| 7Y Cumulative Return | 16.8% |
Cash Flow & Liquidity |
|---|
| Revenue (TTM) |
| 2.5 kCr |
| Rev. Growth (Yr) | 12.8% |
| Earnings (TTM) | 25.51 Cr |
| Earnings Growth (Yr) | -201.9% |
Profitability | |
|---|---|
| Operating Margin | 2% |
| EBT Margin | 2% |
| Return on Equity | 2.57% |
| Return on Assets | 0.71% |
| Free Cashflow Yield | 1.1% |
| Cash Flow from Investing (TTM) | -487.75 Cr |
| Cash Flow from Operations (TTM) | 317.12 Cr |
| Cash Flow from Financing (TTM) | -42.44 Cr |
| Cash & Equivalents | 182.61 Cr |
| Free Cash Flow (TTM) | 108.25 Cr |
| Free Cash Flow/Share (TTM) | 7.76 |
Balance Sheet | |
|---|---|
| Total Assets | 3.59 kCr |
| Total Liabilities | 2.59 kCr |
| Shareholder Equity | 993.72 Cr |
| Current Assets | 763.77 Cr |
| Current Liabilities | 1.04 kCr |
| Net PPE | 1.96 kCr |
| Inventory | 61.55 Cr |
| Goodwill | 429.98 Cr |
Capital Structure & Leverage | |
|---|---|
| Debt Ratio | 0.25 |
| Debt/Equity | 0.91 |
| Interest Coverage | -0.78 |
| Interest/Cashflow Ops | 2.91 |
Dividend & Shareholder Returns | |
|---|---|
| Shares Dilution (1Y) | 1.2% |
| Shares Dilution (3Y) | 1.4% |
Smart Money: Smart money has been increasing their position in the stock.
Growth: Good revenue growth. With 53.5% growth over past three years, the company is going strong.
Past Returns: Outperforming stock! In past three years, the stock has provided 25.8% return compared to 13.2% by NIFTY 50.
Size: Market Cap wise it is among the top 20% companies of india.
Dividend: Stock hasn't been paying any dividend.
Momentum: Stock is suffering a negative price momentum. Stock is down -12.2% in last 30 days.
Technicals: SharesGuru indicator is Bearish.
Smart Money: Smart money has been increasing their position in the stock.
Growth: Good revenue growth. With 53.5% growth over past three years, the company is going strong.
Past Returns: Outperforming stock! In past three years, the stock has provided 25.8% return compared to 13.2% by NIFTY 50.
Size: Market Cap wise it is among the top 20% companies of india.
Dividend: Stock hasn't been paying any dividend.
Momentum: Stock is suffering a negative price momentum. Stock is down -12.2% in last 30 days.
Technicals: SharesGuru indicator is Bearish.
Investor Care | |
|---|---|
| Shares Dilution (1Y) | 1.2% |
| Earnings/Share (TTM) | 1.35 |
Financial Health | |
|---|---|
| Current Ratio | 0.73 |
| Debt/Equity | 0.91 |
Technical Indicators | |
|---|---|
| RSI (14d) | 22.68 |
| RSI (5d) | 30.34 |
| RSI (21d) | 30.43 |
| MACD Signal | Sell |
| Stochastic Oscillator Signal | Hold |
| SharesGuru Signal | Sell |
| RSI Signal | Buy |
| RSI5 Signal | Hold |
| RSI21 Signal | Hold |
| SMA 5 Signal | Sell |
| SMA 10 Signal | Sell |
| SMA 20 Signal | Sell |
| SMA 50 Signal | Sell |
| SMA 100 Signal | Sell |
Summary of HealthCare Global Enterprises's latest earnings call, featuring management's outlook on business performance, financial results, and analyst Q&A sessions that highlight key strategic initiatives and market challenges.
In the earnings call held on December 4, 2025, management highlighted a positive outlook for Healthcare Global Enterprises Limited (HCG). CEO Dr. Manish Mattoo stated that the company aims to sustain or exceed its historical revenue growth rate of over 15% per annum, attributed to the full potential realization of their existing network and focused brownfield and greenfield expansion.
Key forward-looking points include:
Growth Targets: HCG plans to achieve a revenue of Rs. 2,200 crore in FY2025, with a target of maintaining similar growth rates in the coming years driven by an anticipated increase in patient volumes (expected growth of 9% to 10% annually) and a realization improvement of 4% to 5% per year.
EBITDA Growth: The company reported an EBITDA of Rs. 396 crore, with expectations for growth accelerating beyond the historical CAGR of 18%. Dr. Mattoo indicated an ambition for EBITDA margins to potentially exceed 21%-22% over the next three to five years, driven by network optimization, operational efficiencies, and improved payor mixes.
Return on Capital Employed (ROCE): The company aims for a sustainable ROCE exceeding 20%, leveraging the performance of mature centers, which currently operate at about 27% pre-corporate ROCE.
Capital Expenditure: HCG is planning a capital expenditure of Rs. 600 crore over the next two to three years, with approximately Rs. 300 crore designated for maintenance capex. The remainder will support expansion initiatives, focusing on brownfield opportunities in cities like Ahmedabad and greenfield expansions in identified markets.
Market Demand: Management noted an underpenetrated cancer care market in India, highlighting a demand-supply gap that offers significant growth potential. Notably, they projected a growth rate of 13%-14% annually in the oncology specialty, driven by demographic changes and rising cancer incidences.
These strategies position HCG to enhance its competitive advantage in the oncology market while delivering superior clinical outcomes and financial performance.
Understand HealthCare Global Enterprises ownership landscape with insights into key distribution patterns, offering investors a clear view of stakeholder dynamics.
| Shareholder Name | Holding % |
|---|---|
| HECTOR ASIA HOLDINGS II PTE. LTD. | 53.83% |
| B S AJAIKUMAR | 9.3% |
| NIPPON LIFE INDIA TRUSTEE LTD-A/C NIPPON INDIA ELS | 5.6% |
| MOTILAL OSWAL DYNAMIC FUND | 5.24% |
| AXIS MUTUAL FUND TRUSTEE LIMITED A/C AXIS MUTUAL FUND | 2.07% |
| TATA INDIA PHARMA & HEALTHCARE FUND | 1.53% |
Detailed comparison of HealthCare Global Enterprises against industry peers, highlighting key financial metrics, valuation ratios, and performance indicators to provide competitive context within the sector.
Ticker | Name | Mkt Cap | Revenue | Price %, 1M | Returns, 1Y | P/E | P/S | Rev 1-Yr | Inc 1-Yr |
|---|---|---|---|---|---|---|---|---|---|
| APOLLOHOSP | Apollo Hospitals Enterprises | 1.04 LCr | 23.48 kCr | -0.60% | +6.20% | 62.01 | 4.41 | - | - |
| MAXHEALTH | Max Healthcare Institute |
Comprehensive comparison against sector averages
HCG metrics compared to Healthcare
| Category | HCG | Healthcare |
|---|---|---|
| PE | 415.93 | 59.32 |
| PS | 3.17 | 6.18 |
| Growth | 15.7 % | 13.6 % |
HealthCare Global Enterprises Limited, together with its subsidiaries, provides medical and healthcare services focusing on cancer and fertility in India and internationally. The company offers cancer diagnosis and treatment services through radiation therapy, medical oncology, and surgery; and fertility treatment services, including reproductive medicine, assisted reproduction, gynecological endoscopy, and fertility preservation under the Milann brand. It also operates multi-specialty hospitals under the HCG brand that provides inpatient and outpatients treatments with specialties in cardiology, neurology, orthopaedics, gastroenterology, urology, internal medicine and pulmonary, and critical care. In addition, the company offers cancer diagnostic services; combining laboratory services; and research and development, and clinical research to enhance cancer diagnosis and prognosis. HealthCare Global Enterprises Limited was founded in 1989 and is headquartered in Bengaluru, India.
This is an informational page just to provide a quick 'first look' at the stock. You must do your own deeper research. Know your risk appetite. Consult a SEBI-registered financial advisor before making any investment decisions.
HCG vs Healthcare (2021 - 2026)
High Scoring Large Cap stocks have outperformed low scoring stocks by 90% over last 4 years
High Scoring Large Cap stocks have outperformed low scoring stocks by 90% over last 4 years
Question 1: Gaurav Tinani: "What kind of revenue growth do you expect over the medium-to-long term?"
Answer: Over the last five years, we've consistently delivered revenue growth exceeding 15% per annum, outpacing the broader market. Looking ahead, we target sustaining or exceeding this momentum by maximizing our existing network's potential, focusing on brownfield expansion, and improving our case and payor mix, particularly by enhancing our centres of excellence.
Question 2: Gaurav Tinani: "What is your outlook on EBITDA margin trajectory?"
Answer: Historically, our EBITDA has grown at an 18% CAGR. We expect it to surpass this, driven by operational efficiencies and improved payor mix. As more centres exceed 10 crore in revenue, they achieve EBITDA margins around 25%, which would enhance overall margins as we scale.
Question 3: Gaurav Tinani: "What is your expected ROCE over the next three to five years?"
Answer: Currently, our mature centres have a pre-corporate ROCE of around 27%. With further expansion and more centres reaching maturity, we anticipate achieving a trend of at least a 20% plus ROCE in the upcoming five years.
Question 4: Param Desai: "How do we position against multi-specialty hospitals?"
Answer: Cancer requires super-specialty focus, which we deliver with superior clinical outcomes. We receive many patients for second opinions, reflecting our reputation for integrated care and advanced technology. The rising cancer burden means that demand far exceeds supply, allowing us to thrive despite competition.
Question 5: Param Desai: "What is our capital outlay for future growth?"
Answer: Over the next two to three years, we expect to spend around 500-600 crores on growth initiatives, including maintenance capex of 90-100 crores annually, depending on the market environment and our ongoing expansion plans.
Question 6: Sumit Gupta: "How will you build your team for growth?"
Answer: We've added leaders in critical roles such as clinical strategy, marketing, and investor relations to drive transformation. By strengthening our team, we aim to enhance clinical talent acquisition and improve patient communication.
Question 7: Ritika Khandelwal: "How equipped is HCG to manage comorbidities?"
Answer: We employ a wide range of specialists beyond oncologists, including intensivists and gastroenterologists, ensuring comprehensive care for comorbidities. Our approach is key to achieving our low mortality rate.
Question 8: Dheeresh Pathak: "What is the timeline to achieve your full revenue potential?"
Answer: We see a path to achieve our potential revenue within four to five years at the current pricing structure. The timeline considers centre upgrades, payor mix enhancements, and other growth strategies.
These answers encapsulate the key points discussed during the Q&A session, highlighting the company's growth trajectory, strategy, and operational focus.
| CLARUS CAPITAL I |
| 1.38% |
| AAGNIKA AJAIKUMAR | 0.23% |
| ASMITHA AJAIKUMAR | 0.23% |
| CATALYST TRUSTEESHIP LIMITED | 0.18% |
| ANJALI AJAIKUMAR ROSSI | 0% |
| BHAGYA A AJAIKUMAR | 0% |
Distribution across major stakeholders
Distribution across major institutional holders
| 98.25 kCr |
| 8.3 kCr |
| -0.70% |
| -11.60% |
| 69.18 |
| 11.83 |
| - |
| - |
| FORTIS | Fortis Healthcare | 67.29 kCr | 8.51 kCr | -1.30% | +37.10% | 66.37 | 7.9 | - | - |
| NH | Narayana Hrudayalaya | 35.67 kCr | 6.09 kCr | -8.00% | +24.20% | 41.95 | 5.86 | - | - |
| MEDANTA | Global Health | 31.2 kCr | 4.27 kCr | -1.20% | -0.70% | 60.72 | 7.31 | - | - |
| -70.3% |
| 6.65 |
| 20 |
| 11 |
| 14 |
| -4.2 |
| 28 |
| Exceptional items before tax | - | -12.67 | 0 | 0 | 0 | 0 | 0 |
| Total profit before tax | -136.9% | -6.02 | 20 | 11 | 14 | -4.2 | 28 |
| Current tax | -51.6% | 4.41 | 8.05 | 8.91 | 13 | -2.62 | 11 |
| Deferred tax | 63.8% | -2.58 | -8.89 | -2.97 | -5.71 | -8.43 | -4.08 |
| Total tax | 145.1% | 1.83 | -0.84 | 5.94 | 6.85 | -11.05 | 6.97 |
| Total profit (loss) for period | -144.5% | -7.9 | 21 | 5.98 | 6.77 | 7.75 | 21 |
| Other comp. income net of taxes | 351.2% | 2.08 | 0.57 | 0.25 | 0.21 | 0.59 | 0.36 |
| Total Comprehensive Income | -134.1% | -5.82 | 21 | 6.23 | 6.98 | 8.34 | 21 |
| Earnings Per Share, Basic | -1150% | -0.68 | 1.16 | 0.34 | 0.53 | 0.5 | 1.29 |
| Earnings Per Share, Diluted | -1150% | -0.68 | 1.16 | 0.34 | 0.52 | 0.49 | 1.28 |
| 76.6% |
| 84 |
| 48 |
| 41 |
| 43 |
| 63 |
| 83 |
| Depreciation and Amortization | 18.3% | 111 | 94 | 89 | 88 | 87 | 79 |
| Other expenses | 14.6% | 527 | 460 | 414 | 336 | 260 | 283 |
| Total Expenses | 20.7% | 1,261 | 1,045 | 956 | 834 | 685 | 735 |
| Profit Before exceptional items and Tax | -24.3% | 54 | 71 | 61 | 28 | -51.95 | -34.57 |
| Exceptional items before tax | -109.5% | -34.82 | -16.1 | -3 | 53 | -153.1 | -30.89 |
| Total profit before tax | -64.8% | 20 | 55 | 58 | 81 | -205.05 | -65.46 |
| Current tax | -16.7% | 21 | 25 | 7 | 16 | 0 | 0 |
| Deferred tax | -6% | -4.61 | -4.29 | 10 | 27 | -13.51 | -12.16 |
| Total tax | -25% | 16 | 21 | 17 | 43 | -13.51 | -12.16 |
| Total profit (loss) for period | -92.3% | 3.53 | 34 | 40 | 38 | -191.54 | -53.3 |
| Other comp. income net of taxes | 45.7% | 0.3 | -0.29 | -0.16 | 0.33 | 2.77 | -0.05 |
| Total Comprehensive Income | -91.4% | 3.83 | 34 | 40 | 39 | -188.77 | -53.35 |
| Earnings Per Share, Basic | -152.1% | 0.25 | 2.439 | 2.89 | 2.95 | -16.85 | -6.02 |
| Earnings Per Share, Diluted | -152.9% | 0.25 | 2.419 | 2.88 | 2.83 | -16.85 | -6.02 |
| 159.1% |
| 58 |
| 23 |
| 34 |
| 36 |
| 12 |
| 9.22 |
| Goodwill | 0% | 90 | 90 | 138 | 138 | 96 | 96 |
| Non-current investments | 0% | 696 | 696 | 513 | 506 | 506 | 475 |
| Loans, non-current | 5.4% | 40 | 38 | 36 | 36 | 0 | 0 |
| Total non-current financial assets | 0.5% | 814 | 810 | 640 | 627 | 547 | 498 |
| Total non-current assets | 2.1% | 2,005 | 1,963 | 1,836 | 1,675 | 1,450 | 1,357 |
| Total assets | -2.1% | 2,550 | 2,604 | 2,410 | 2,188 | 1,853 | 1,730 |
| Borrowings, non-current | 5.3% | 320 | 304 | 283 | 261 | 154 | 113 |
| Total non-current financial liabilities | 1.2% | 747 | 738 | 711 | 583 | 375 | 316 |
| Provisions, non-current | 9.1% | 13 | 12 | 12 | 11 | 11 | 9.5 |
| Total non-current liabilities | 1.1% | 799 | 790 | 755 | 626 | 419 | 364 |
| Borrowings, current | -33.4% | 232 | 348 | 190 | 135 | 21 | 8.77 |
| Total current financial liabilities | -17.9% | 479 | 583 | 393 | 336 | 203 | 179 |
| Provisions, current | -6.7% | 15 | 16 | 16 | 15 | 15 | 14 |
| Current tax liabilities | 997.6% | 19 | 2.64 | 2.64 | 2.2 | 2.2 | 2.2 |
| Total current liabilities | -9% | 567 | 623 | 433 | 373 | 256 | 221 |
| Total liabilities | -3.3% | 1,365 | 1,412 | 1,188 | 999 | 675 | 585 |
| Equity share capital | 1.4% | 141 | 139 | 139 | 139 | 139 | 139 |
| Total equity | -0.6% | 1,184 | 1,191 | 1,221 | 1,189 | 1,178 | 1,145 |
| Total equity and liabilities | -2.1% | 2,550 | 2,604 | 2,410 | 2,188 | 1,853 | 1,730 |
| -43.8% |
| 19 |
| 33 |
| 17 |
| 15 |
| - |
| - |
| Net Cashflows From Operating Activities | -25.3% | 146 | 195 | 130 | 124 | - | - |
| Cashflows used in obtaining control of subsidiaries | 359.6% | 217 | 48 | 42 | 119 | - | - |
| Cash payment for investment in partnership firm or association of persons or LLP | - | 0 | 0 | 0 | 75 | - | - |
| Proceeds from sales of PPE | -377.8% | 0 | 1.36 | 7.28 | 0.29 | - | - |
| Purchase of property, plant and equipment | 6.5% | 133 | 125 | 102 | 42 | - | - |
| Interest received | 179.7% | 8.3 | 3.61 | 3.95 | 10 | - | - |
| Other inflows (outflows) of cash | 82.9% | -5.49 | -36.86 | -4.81 | 117 | - | - |
| Net Cashflows From Investing Activities | -39.2% | -347.33 | -249.22 | -137.69 | 49 | - | - |
| Proceeds from issuing shares | -41.1% | 1.56 | 1.95 | 0.89 | 132 | - | - |
| Proceeds from borrowings | -47.9% | 99 | 189 | 39 | 111 | - | - |
| Repayments of borrowings | 192.9% | 42 | 15 | 25 | 218 | - | - |
| Payments of lease liabilities | - | 54 | 0 | 0 | 17 | - | - |
| Interest paid | 119% | 47 | 22 | 36 | 44 | - | - |
| Other inflows (outflows) of cash | - | 0 | 0 | 0 | -5.03 | - | - |
| Net Cashflows from Financing Activities | -140.9% | -41.55 | 105 | -41.7 | -41.04 | - | - |
| Net change in cash and cash eq. | -587.9% | -242.93 | 51 | -49.02 | 132 | - | - |