Hospitals/Medical Services Stocks in India

4-Factor Sector Score

An additive sector-relative research score. The four displayed point contributions always equal the total: Growth & earnings (35), Capital efficiency (25), Valuation (20), and Relative strength (20). Missing or stale evidence is absorbed inside the affected factor, never applied as a hidden adjustment.

Missing observations are not scored as bad. Their missing weight lowers confidence and pulls the final score toward neutral. PEG is guarded: positive earnings, positive 5–60% three-year EPS growth, and a positive P/E are required.

Revenue Scale & Growth Durability

Dr Agarwals Health Care Ltd has the highest Revenue among the 7 Hospitals/Medical Services companies compared here, at ₹2,080 crore. Nephrocare Health Services Ltd is next at ₹1,009 crore. The same company also holds the highest Revenue growth, at 21.6%. 3 of 7 companies report a comparable reading, the latest through Mar 2026.

What the numbers say: Dr Agarwals Health Care Ltd is the scale leader at ₹2,080 crore, 106.1% ahead of Nephrocare Health Services Ltd. Dr Agarwals Health Care Ltd's growth is 21.6% from a ₹2,080 crore base, with 10 reported observations in the 20-quarter window. Treat the growth leader as an acceleration candidate, not as equally proven scale.

Investor read: Dr Agarwals Health Care Ltd is the scale benchmark; Dr Agarwals Health Care Ltd is the acceleration watch. Promote the challenger only if growth persists and converts into margin and returns.

This conclusion weakens if: Dr Agarwals Health Care Ltd's growth falls below Dr Agarwals Health Care Ltd's for two consecutive comparable reports while operating margin also compresses.

Operating Economics & Margin Trend

Gaudium IVF and Women Health Ltd has the highest OPM among the 7 Hospitals/Medical Services companies compared here, at 40.1%. Unihealth Hospitals Ltd is next at 34%. KRM Ayurveda Ltd has the highest Margin change at +12 percentage points, so level and change sit with different companies. 7 of 7 companies report a comparable reading, the latest through Mar 2026.

What the numbers say: Gaudium IVF and Women Health Ltd leads opm at 40.1%; KRM Ayurveda Ltd leads margin change at +12 percentage points.

Investor read: Gaudium IVF and Women Health Ltd sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current margin change signal.

Profit Scale & Acceleration

Dr Agarwals Health Care Ltd has the highest Net profit among the 7 Hospitals/Medical Services companies compared here, at ₹168 crore. Nephrocare Health Services Ltd is next at ₹60 crore. The same company also holds the highest Profit growth, at 52.7%. 3 of 7 companies report a comparable reading, the latest through Mar 2026.

What the numbers say: Dr Agarwals Health Care Ltd leads with ₹168 crore of TTM profit, 180% above Nephrocare Health Services Ltd. Dr Agarwals Health Care Ltd shows 52.7% growth from a ₹168 crore profit base. Compare the size of the base and persistence before ranking acceleration above profit scale.

Investor read: Dr Agarwals Health Care Ltd sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current profit growth signal.

Capacity Spending & Returns On It

Nephrocare Health Services Ltd has the highest CAPEX among the 7 Hospitals/Medical Services companies compared here, at ₹31 crore. Unihealth Hospitals Ltd is next at ₹22 crore. Unihealth Hospitals Ltd has the highest CAPEX intensity at 33.8%, so level and change sit with different companies. 4 of 7 companies report a comparable reading, the latest through Mar 2026.

What the numbers say: Nephrocare Health Services Ltd reports ₹31 crore of CAPEX; Unihealth Hospitals Ltd has the highest covered intensity at 33.8%. Coverage is only 4 of 7 companies and 14 reported observations, so this is partial evidence—not a complete sector rank.

Investor read: Use the CAPEX rank as a diligence queue. Verify commissioning, utilization, cash conversion and post-investment ROCE before treating spend as value creation.

This conclusion weakens if: CAPEX rises without higher utilization, operating cash flow or incremental returns.

Debt Load & Balance-Sheet Headroom

KRM Ayurveda Ltd has the lowest Gross debt among the 7 Hospitals/Medical Services companies compared here, at ₹0 crore. Gaudium IVF and Women Health Ltd is next at ₹25 crore. Nephrocare Health Services Ltd has the lowest Net debt at ₹346 crore net cash, so level and change sit with different companies.

What the numbers say: Nephrocare Health Services Ltd has the clearest covered balance-sheet capacity with ₹346 crore net cash and gross debt of ₹80 crore. Absolute debt alone does not identify the strongest balance sheet because company scale differs; net debt and debt-to-equity carry more information.

Investor read: Prioritize net-cash capacity and leverage relative to operating scale, not the smallest absolute rupee debt.

This conclusion weakens if: Net debt rises faster than revenue and profit for two consecutive reported periods.

Return On Capital Employed

KRM Ayurveda Ltd has the highest ROCE among the 7 Hospitals/Medical Services companies compared here, at 35.3%. Gaudium IVF and Women Health Ltd is next at 29.3%. Unihealth Hospitals Ltd has the highest ROCE change at +5.3 percentage points, so level and change sit with different companies. 7 of 7 companies report a comparable reading, the latest through Mar 2026.

What the numbers say: KRM Ayurveda Ltd leads ROCE at 35.3%, 6 percentage points above Gaudium IVF and Women Health Ltd. Unihealth Hospitals Ltd has the strongest latest improvement at +5.3 percentage points. Read the leader beside the density of its reported history: a sparse high return is a candidate; a repeated high return is evidence of durability.

Investor read: KRM Ayurveda Ltd sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current roce change signal.

Valuation Against Growth & Quality

Nephrocare Health Services Ltd has the lowest Guarded PEG among the 7 Hospitals/Medical Services companies compared here, at 0.04×. KRM Ayurveda Ltd has the lowest P/E at 27×, so level and change sit with different companies. 1 of 7 companies report a comparable reading, the latest through Mar 2026.

What the numbers say: Nephrocare Health Services Ltd has the lowest comparable Guarded PEG at 0.04×. Only 1 of 7 companies pass the guard, so no broad “cheapest stock” conclusion is defensible unless the current multiple, own-history position and growth durability agree.

Investor read: Treat valuation as permission to investigate, never as a standalone reason to buy.

This conclusion weakens if: The next two comparable reports reverse the current p/e signal.

Enterprise Value & Book Value

Unihealth Hospitals Ltd has the lowest EV/EBITDA among the 7 Hospitals/Medical Services companies compared here, at 10.6×. Gaudium IVF and Women Health Ltd is next at 18.5×. Gujarat Kidney & Super Speciality Ltd has the lowest P/BV at 4×, so level and change sit with different companies. 7 of 7 companies report a comparable reading, the latest through Mar 2026.

What the numbers say: Unihealth Hospitals Ltd leads ev/ebitda at 10.6×; Gujarat Kidney & Super Speciality Ltd leads p/bv at 4×.

Investor read: Treat valuation as permission to investigate, never as a standalone reason to buy.

This conclusion weakens if: The next two comparable reports reverse the current p/bv signal.

Market action

Unihealth Hospitals Ltd has the strongest one-year price move in Hospitals/Medical Services at +317.1%. It also leads on Mansfield relative strength against NIFTY at +112.4%. 2 of 2 covered companies are above zero on that measure. Every line covers 313 weekly closes through 2026-07-17.

What can make this comparison misleading?

This Hospitals/Medical Services comparison names 7 specific ways its own evidence can mislead, all listed below. All 7 companies here report on comparable dates, so no rank carries a stale marker. 3 draw at least one figure from a second feed with too little overlap to cross-check. 2 have second-feed figures withheld because the two sources disagree.

Which companies are included?

All 7 companies in the canonical Hospitals/Medical Services membership are listed below, largest market value first — nothing is silently dropped, even where a company reports too little to rank. The charts above default to a selective view; this register is the complete set, with each company's own latest reporting date beside it.

AHEAD means the company is beating the index by 5% or more over three months. LAGGING, FUNDAMENTALS UP means it is 20% or more behind over a year while its trailing twelve-month earnings grew 20% or more. Both rules are fixed and applied the same way in every sector.

How was this comparison built?

This comparison is built from the reported filings of 7 Hospitals/Medical Services companies, normalized to a common ₹ scale and a shared quarter axis of up to 15 quarters each. Fundamentals run through Mar 2026 and market data through 2026-07-24. A second data feed fills gaps only after identity and scale reconciliation, and missing observations are never interpolated.

A second feed is read only after its reported income is matched against the primary source on at least three overlapping periods. Where the two agree the figures fill silently. Where there is too little shared history to compare, the figures are still drawn — they are the only evidence there is — and marked ⚠ unverified everywhere they appear. Where the two are known to disagree, nothing from the second feed is drawn and the affected company is named under the chart it is missing from. Every company's standing is listed in the register above.

Hospitals/Medical Services company comparison FAQs

These 19 answers restate the Hospitals/Medical Services comparison above in question form. Every one is computed from the same 7 companies and the same reported filings as the rankings and charts, current through Mar 2026. Price and relative-strength answers run through 2026-07-24. Nothing here is estimated, and none of it is a recommendation.