# Artemis Medicare Services share price today (Artemis Medicare Services Ltd, NSE: ARTEMISMED)

> Artemis Medicare Services share price today: ₹285.75 at the NSE close on 3 November 2026, up 15.4% in a year. Artemis Medicare Services (NSE: ARTEMISMED) is worth ₹4,527 crore, trades at a P/E of 38.7 and has closed between ₹215.92 and ₹368.20 over the past 52 weeks. > Artemis Medicare Services Ltd's share price, valuation and earnings point in different directions. The next one or two quarters should make it clearer. ARTEMISMED · Hospitals · data as of 3 November 2026. Page: https://www.sectoralpha.in/stocks/artemis-medicare-services-ltd

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## Key numbers

- Business trend: Mixed, from the last 12 quarters
- Price: ₹285.75 (+15.4% in a year)
- P/E: 38.7× (lower than 53% of the last 6.4 years)
- Revenue (Sep 2026): ₹311 Cr (+13.1% on a year ago)
- Profit (Sep 2026): ₹31.0 Cr (+3.3% on a year ago)
- Operating margin: 18.0% (flat on a year ago)
- ROCE: 15%, FY26
- ROIC: 10.5%, against a 12.0% cost of capital: −1.5 points

The main question: promoters moved −8.8 percentage points over 8 quarters while the business went the other way. ## What is the Artemis Medicare Services share price today? Artemis Medicare Services Ltd's share price was ₹285.75 at the close on 3 November 2026. It has been rising for 22 weeks. That is 0.2% below its average price over the last 200 trading days. In the last 52 weeks it traded between ₹216 and ₹368, and at that close it sat 46% of the way up from that low. Over the past 13 weeks it has done worse than the NIFTY 500, and it has been behind for 1 week running. Over the last 6.8 years the share price moved +1,166% while the NIFTY 500 moved +119%, so it is ahead of the index over that whole period. It was last ahead over 13 weeks in the week of 30 October 2026. The chart above shows the 13-week comparison for every week. This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row. ## What changed at Artemis Medicare Services this quarter? Three changes stood out: revenue up on a year earlier for 12 quarters in a row (every quarter we can compare), profit up on a year earlier for 12 quarters in a row (every quarter we can compare) and indian funds and insurers (DIIs) cut their stake for 6 quarters in a row. 1. Revenue up on a year earlier for 12 quarters in a row (every quarter we can compare) In the September 2026 quarter revenue was ₹311 crore, +13.1% on a year earlier. 2. Profit up on a year earlier for 12 quarters in a row (every quarter we can compare) In the September 2026 quarter profit was ₹31 crore, +3.3% on a year earlier. 3. Indian funds and insurers (DIIs) cut their stake for 6 quarters in a row From 5% to 1.9% of the company by the September 2026 quarter. ## What are Artemis Medicare Services' latest quarterly results? For July to September 2026 (the quarter ended 30 September 2026), Artemis Medicare Services reported revenue of ₹311 crore, up 13.1% from ₹275 crore a year earlier, and a profit of ₹31.0 crore, up 3.3% from ₹30.0 crore. ### Artemis Medicare Services results: July to September 2026 against a year earlier

| Measure | July to September 2026 | July to September 2025 | Change |
| --- | --- | --- | --- |
| Revenue | ₹311 crore | ₹275 crore | +13.1% |
| Profit | ₹31.0 crore | ₹30.0 crore | +3.3% |
| Earnings per share | ₹1.96 | ₹2.16 | −9.3% |
| Operating margin | 18.0% | 18.0% | 0.0 points |

The next results, for October to December 2026, are due by 14 February 2027: listed companies must publish quarterly results within 45 days of the quarter's end (60 days for the January to March quarter). The newest call in our records is from 4 August 2026, about April to June 2026; a call about these results is not in our records yet. (From the company's reported quarterly results (quarter ended 30 September 2026). Revenue and profit in ₹ crore.)

## What is the Artemis Medicare Services share price history? Artemis Medicare Services closed at ₹285.75 on 3 November 2026, up 15.4% from ₹247.56 a year earlier (31 October 2025) and up 717.6% over five years. Its highest weekly close since January 2020 was ₹368.20 on 28 September 2026. ### Artemis Medicare Services share price: then and now

| When | Close | Change to 3 Nov 2026 |
| --- | --- | --- |
| 1 week ago · 23 Oct 2026 | ₹284.95 | +0.3% |
| 1 month ago · 1 Oct 2026 | ₹336.40 | −15.1% |
| 6 months ago · 30 Apr 2026 | ₹244.13 | +17.0% |
| 1 year ago · 31 Oct 2025 | ₹247.56 | +15.4% |
| 3 years ago · 3 Nov 2023 | ₹148.85 | +92.0% |
| 5 years ago · 4 Nov 2021 | ₹34.95 | +717.6% |
| Earliest weekly close in our records · 24 Jan 2020 | ₹22.58 | +1,165.5% |
| Highest weekly close since January 2020, also the 52-week high · 28 Sep 2026 | ₹368.20 | −22.4% |
| Lowest weekly close since January 2020 · 3 Apr 2020 | ₹12.65 | +2,158.9% |
| 52-week low (weekly close) · 27 Mar 2026 | ₹215.92 | +32.3% |

Weekly closing prices, adjusted for splits and bonuses so every price is on today’s share count. Each change is the move from that price to the 3 Nov 2026 close. A day's intraday high or low can go beyond these weekly closes. (362 weekly closes from 24 January 2020 to 3 November 2026.)

## What is the latest news on Artemis Medicare Services? 3 Nov 2026: Artemis Medicare Services closed at ₹285.75, up 0.3% on the week and down 15.1% on the month. Results for July to September 2026: Revenue up 13.1% and profit up 3.3% on a year earlier. ### Earlier

- Our read, 22 Aug 2026: The latest quarter extended revenue and profit growth while operating margin reached the top of its observed band. - 4 Aug 2026: Artemis Medicare Services held its results call for April to June 2026. Management guided: Gurgaon occupancy goal of 70% by July to September 2026. - 10 Jul 2026: ex-date for a dividend of ₹0.45 a share. ### Our read of the business

The latest quarter extended revenue and profit growth while operating margin reached the top of its observed band. April to June 2026: April to June 2026 reported higher revenue and profit, with operating margin at the top of the recent reported range. (Our read after the April to June 2026 results, written 22 August 2026. The July to September 2026 results are out since, so this part may be out of date until we update it.)

## What dividend does Artemis Medicare Services pay? Artemis Medicare Services paid ₹0.45 a share in regular dividends in the 12 months to 4 November 2026 (1 payment), a yield of 0.16% at the ₹285.75 close on 3 November 2026. The last was a dividend of ₹0.45 a share, ex-date 10 July 2026. ### Artemis Medicare Services dividends since 1 April 2021

| Ex-date | Dividend per share | Type |
| --- | --- | --- |
| 10 Jul 2026 | ₹0.45 | Dividend |
| 11 Jul 2025 | ₹0.45 | Dividend |
| 5 Jul 2024 | ₹0.45 | Dividend |
| 14 Jul 2023 | ₹0.45 | Dividend |

Amounts as the company declared them on the NSE. A dividend goes to whoever owns the shares before the ex-date. The record date is the same day as the ex-date for every payment here. 3 of 5 Of the last 5 financial years, years with an NSE dividend record

Yes. Artemis Medicare Services Ltd paid out 7% of its profit as dividends in FY26, and it paid a dividend in 4 of its last 13 reported years. (From the NSE corporate-actions record, read 4 November 2026.)

## What did Artemis Medicare Services management say on the latest results call? On the call for April to June 2026, held on 4 August 2026, Artemis Medicare Services' management guided: Gurgaon occupancy goal of 70% by July to September 2026. > “The idea is to prevent spillover from leaving the hospital and to enable us to move easily from 70% to 75% occupancy to the additional 200 beds without any patient denial.”
> Dr. Devlina Chakravarty, on the call for April to June 2026

### What management guided

- Tower 4: above 200 beds operational in 18-22 months, subject to clearances; all-in capital spending at ₹55 lakh per bed including parking, while total capital spending varied across Q&A answers. - Tower 4 breakeven within 8-10 months after launch and 50% utilization within the first 6 months. - Raipur break-even in 15-18 months with overall operating loss around ₹20 crore; direct insurance empanelment within 8-10 weeks and ramp-up 20-25% faster thereafter. - Network capacity planned at 2,000 operational beds by 2029-30. Management’s own plans and goals, from our notes of the call. A plan is not a result. Source: [the call transcript](https://files.tijorifinance.com/insight/india/7826/Conference Call/CC-Aug26.pdf). (From the call for April to June 2026, 4 August 2026. The July to September 2026 results are out since, so this part may be out of date until we update it.)

## What could change the Artemis Medicare Services story? What are the risks? The thesis breaks if Gurgaon occupancy does not progress toward management’s stated 70% July to September 2026 goal while consolidated operating margin falls materially through the Raipur ramp, because that would show the claimed fixed-cost leverage is not offsetting new-capacity losses. ### Each change stops working if

- : Gurgaon occupancy stagnates after the completed bed base and margin falls despite continued revenue growth. - : International mix or patient volumes decline for consecutive quarters without offsetting domestic specialty demand. - : Insurance empanelment or remaining equipment installation is delayed and the loss run-rate exceeds management’s indicated range. - : Clearances, final costs, or funding requirements move materially without corresponding operating-return evidence. ### The main risks

- : Repeated revisions to timing, capital spending, debt, capacity, and ARPOB reduce confidence in the capital-plan baseline. ✓ fact
- : Raipur is operational but still depends on insurance empanelment and pending equipment to ramp patient volumes. ✓ fact
- : Expansion can absorb operating cash and may require further equity or debt before new assets contribute. ✓ fact

(Our read after the April to June 2026 results, written 22 August 2026. The July to September 2026 results are out since, so this part may be out of date until we update it.)

## What to watch in Artemis Medicare Services' next results? When Artemis Medicare Services reports October to December 2026, these are the 4 checks that show whether the story is still on course. First: Gurgaon occupancy improvement - next quarter should show whether demand reaches the confirmed goal and supports additional capacity. - What to check (from the call)
- Gurgaon occupancy improvement - next quarter should show whether demand reaches the confirmed goal and supports additional capacity. - Raipur insurance empanelment and remaining PET-CT/radiotherapy installations - next update should show whether patient ramp is accelerating. - Tower 4 clearances and construction - next update should resolve final bed count, total capital spending, and commissioning timetable. - QIP asset finalization - next update should indicate whether the enabling resolution has progressed toward a concrete issue plan. ## Which stock lists is Artemis Medicare Services on? Artemis Medicare Services is not on any of our India lists this week. ## Is Artemis Medicare Services profitable? Artemis Medicare Services Ltd earned ₹31.0 Cr of net profit in the Sep 2026 quarter, +3.3% on the same quarter a year earlier. That is the 12th quarter in a row of profit growth. Full-year FY26 profit was ₹104 Cr. Over 10 years profit has grown 16.8% a year on average. That is 10.0% of the quarter's revenue. The same quarter a year earlier earned ₹30.0 Cr. For the full year, FY26 profit was ₹104 Cr (+26.8% on the year before). Why profit moved: revenue changed +13.1% on a year earlier and the margin moved +0.0 percentage points. Sales did the work, and the margin was about flat. On average over the last four quarters, profit changed +21.5% and revenue +14.8%. Profit is growing faster than sales: fixed costs are spread over more sales, so each extra rupee of revenue adds more to profit. FY27-Q1. revenue ₹287 Cr and profit ₹31 Cr as reported. FY27-Q2. revenue ₹311 Cr and profit ₹31 Cr as reported. Why-sources: our stock research file (22 August 2026) and the company’s own results for those quarters. ## How much revenue does Artemis Medicare Services make, and is it growing? Artemis Medicare Services Ltd reported ₹311 Cr of revenue in the Sep 2026 quarter, +13.1% on the same quarter a year earlier. That is the 12th quarter in a row with growth on the year before. Over 10 years it has grown 10.4% a year on average. The last full year, FY26, came in at ₹1,081 Cr. The last four reported quarters add to ₹1,149 Cr. FY26 revenue was ₹1,081 Cr, +15.4% on the year before. Recent pace: the last four quarters grew +14.8% on average, against 10.4% a year over the longer run, so this year is growing faster than its own long-run rate. Is growth speeding up? Revenue over the last 12 months grew +14.7%, against +12.5% a year over the last 8 quarters (stabilising); profit over the last 12 months grew +20.0%, against +32.4% a year (rolling over). FY27-Q1. revenue ₹287 Cr and profit ₹31 Cr as reported. FY27-Q2. revenue ₹311 Cr and profit ₹31 Cr as reported. Why-sources: our stock research file (22 August 2026) and the company’s own results for those quarters. ## How much of every ₹100 of sales does Artemis Medicare Services keep? Artemis Medicare Services Ltd's operating margin was 18.0% in the Sep 2026 quarter, about the same as the same quarter a year ago. Its latest full-year margin is the highest it has ever reported. Across 13 years it has been between 9.0% and 17.0%. The latest quarter is above every full year in that period. In the latest quarter it moved +0.0 percentage points on the same quarter a year ago. Why the margin moved: operating margin changed −0.8 percentage points on the year while gross margin changed +0.0 points. So the drop came mostly from costs below the gross margin, such as staff and overheads, measured against sales. As noted under valuation: when margins are at a record, every ratio built on profit looks better than usual, so a low multiple can mislead. FY27-Q1. revenue ₹287 Cr and profit ₹31 Cr as reported. FY27-Q2. revenue ₹311 Cr and profit ₹31 Cr as reported. Why-sources: our stock research file (22 August 2026) and the company’s own results for those quarters. ## Is Artemis Medicare Services' profit turning into cash? Over the last 3 years, 169% of Artemis Medicare Services Ltd's reported profit came in as cash from its operations, so the profit is backed by cash. In FY26 it brought in ₹132 Cr of operating cash against ₹104 Cr of profit. After ₹96.0 Cr of spending on assets, ₹36.0 Cr was left over as free cash. Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year. Why 169% of profit came in as cash: the cash cycle stayed about the same between FY21 and FY26, so the cash follows profit, not the cycle. What to look at next: the bigger use of cash is spending on new assets, at 2.0× depreciation over three years. The next section checks what that spending is building. ## Where does Artemis Medicare Services' cash go? Artemis Medicare Services Ltd's cash cycle, the days between paying suppliers and getting paid by customers, was 40 days in FY26, down from 49 days in FY21. It spent ₹266 Cr on assets over the last 3 years. Why this happened. Management describes future specialty capacity and a larger network goal, but both project timing and capex framing have changed. The value-chain climb is conditional on specialty capacity translating into operating throughput rather than only higher construction spend. At FY26 sales of ₹1,081 Cr, each day of that cycle ties up about ₹3.0 Cr, so roughly ₹118 Cr is tied up in the business at any time. Spending on assets: ₹266 Cr over the last 3 years, against ₹133 Cr of depreciation (the yearly wear and tear on existing assets). So it is building well beyond replacing what wears out. Work still in progress is ₹29.0 Cr (FY26): assets paid for that are not earning yet. In short: the cash is going into new capacity, not getting stuck in the daily cycle. The question is whether the new capacity earns. ## What is Artemis Medicare Services' P/E ratio, and how does it compare with its own history? Artemis Medicare Services Ltd's P/E is 38.7×, in the middle of its own history: higher than 47% of past readings. Its usual P/E (the middle reading) is 39.3×, over 6.4 years of weekly prices. This compares the share price with the company’s own past. It does not say what the business is worth. The P/E here, and its history, use a profit figure that can leave out one-off items, so it can differ from a P/E worked out on the quarterly results. Those results' earnings per share for the four quarters to Sep 2026 add up to ₹7.25. Keep one thing in mind: margins are the best this company has ever reported. A multiple that looks low against its own past can mislead when profit is at a record. If margins fall back, today's multiple is higher than it looks. Why the multiple is where it is: over the past year earnings per share moved +9.2% while the price moved +15.4%. The price did better than earnings, which pushed the multiple up within its own range. Where the price move came from: over 5 years the price moved +52.2% a year; about +28.2% a year came from earnings growth and about +24.0 percentage points from the multiple (the market paying more). The split is approximate (price return minus earnings growth). It shows how much of the move came from the market paying a different multiple. In short: the multiple is about average against its own past, so the earnings trend underneath matters more than the multiple. ## What growth does the Artemis Medicare Services share price assume? Worked out from its price on 24 August 2026, Artemis Medicare Services Ltd's share price assumed profit growth of about 26.4% a year. Over the past 10 years its profit actually grew 16.8% a year. Today its P/E is 38.7×, lower than 53% of its own last 6.4 years. This is a one-day reading, taken on 24 August 2026. Every other number on this page, the multiple included, uses the latest price as of 3 November 2026. A higher price assumes more growth and a lower price less, so it changes whenever the price changes, and this page does not update it between measurements. ## Is the Artemis Medicare Services business getting better or worse? Artemis Medicare Services Ltd's business is giving mixed signals. Growth is slowing from a very fast pace: profit growth has eased from +57.4% at its peak to +20.0%, but the business is still expanding, with ROCE steady at 15.1%. This is based on 12 quarters of 4 measures. Why it matters: when the lines disagree, each line above matters more than any single label. ## What is the Artemis Medicare Services story, and has it been checked? Artemis Medicare Services Ltd's story is not scored yet against the checks our research set on 22 August 2026. Our read, 22 August 2026. What is proven. What is not proven yet. The thesis breaks if Gurgaon occupancy does not progress toward management’s stated 70% Q2 FY27 goal while consolidated operating margin falls materially through the Raipur ramp, because that would show the claimed fixed-cost leverage is not offsetting new-capacity losses. What would change our mind. The thesis breaks if Gurgaon occupancy does not progress toward management’s stated 70% Q2 FY27 goal while consolidated operating margin falls materially through the Raipur ramp, because that would show the claimed fixed-cost leverage is not offsetting new-capacity losses. The test written in advance. The thesis breaks if Gurgaon occupancy does not progress toward management’s stated 70% Q2 FY27 goal while consolidated operating margin falls materially through the Raipur ramp, because that would show the claimed fixed-cost leverage is not offsetting new-capacity losses. Measured by: the thesis as written as stated by the next result. What the company does. The latest quarter extended revenue and profit growth while operating margin reached the top of its observed band. Raipur is now operating, making occupancy, insurance empanelment, losses, and clarity on further capital deployment the next evidence set. What the surface reading misses. The research reads it further: Operating margin is above the normalized margin used by the deterministic bridge, so current EPS contains a margin premium. The operating-leverage explanation may be structural, but that must be demonstrated through the new-capacity ramp. What the surface reading misses. The surface reading is: The latest fiscal-year cash conversion is lower than the three-year aggregate. The research reads it further: Cash has been reinvested during a growth phase, while debtor days in the deterministic cash decomposition remain below the long-window starting point. Sources: our stock research file (22 August 2026) · quarterly results through Sep 2026 · the company’s own earnings calls. The story check is re-scored every results season; the record below never changes. ## Did Artemis Medicare Services management deliver what it promised? What Artemis Medicare Services Ltd's management promised, against what actually happened: 4 promises on the record. Read straight from the company’s own earnings calls. A promise that slipped stays on this page after it is met. Raipur Commissioning Slipped Beyond Q1 FY27 · 4 August 2026. In February 2026, management planned April-May 2026, and in May 2026 it reiterated that Raipur was on track to commence in Q1 FY27. The latest call places the OPD launch on July 9 and theater and cath lab operations on July 27, a material slippage beyond the stated Q1 goal without explaining the delay. Vimhans Capex Estimate Reduced · 4 August 2026. In May 2026, management estimated INR 500 crores for the 650-bed Vimhans facility. In the latest call, management assigned only INR 350 to 360 crores to Vimhans, a roughly 28% to 30% reduction, without reconciling whether the project scope, phasing, or capex definition changed. Peak Debt Guidance Reversal Post-QIP · 11 May 2026. In the Nov 2025 call, prior to any equity raise, management guided peak debt at up to 350 crores. After announcing the 700 crore QIP in the Feb 2026 call, management explicitly revised peak debt down to 250-280 crores, implying the equity proceeds would directly reduce borrowing needs on all projects. In the May 2026 call, however, peak debt for just the announced Raipur and South Delhi projects is guided back up to approximately 350 crores, negating the post-QIP debt reduction commitment without clear explanation. Raipur Capex Declared Complete Then Revised Higher · 11 May 2026. In the Feb 2026 call, management explicitly stated the Raipur facility capex was fully done and finalized at 100 crores for 300 beds. In the May 2026 call, the same 300-bed facility is now cited at 110-120 crores, a 10-20% increase over a figure that had been presented as a settled and completed number, with no explanation provided for the cost escalation. Every quote above is taken word for word from the company’s own earnings calls. ## What is Artemis Medicare Services management's track record? Operating results delivered, but the capital plan has repeatedly changed before the new assets have proved their returns. ### Regulatory and governance record

No Artemis-specific SEBI, fraud or ED action surfaced; enforcement hits were for unrelated entities. 0% Promoter shares pledged

Sources:

- [gurufocus.com](https://www.gurufocus.com/news/9008982/artemis-medicare-services-ltd-bom542919-q1-2027-earnings-call-highlights-strong-pat-growth-and-strategic-expansion-plans)
- [sebi.gov.in](https://www.sebi.gov.in/sebiweb/home/HomeAction.do?doListing=yes&sid=2&smid=6&ssid=9)
- [choiceindia.com](https://choiceindia.com/stocks/artemis-medicare-services-ltd-shareholding-pattern)

(Checked 30 August 2026.)

## How much does Artemis Medicare Services earn on its capital? Artemis Medicare Services Ltd earned a ROCE of 15% in FY26. That is up from a low of 4% in FY21. Its return on capital used (ROIC) is 1.5 percentage points below its cost of capital, so growth here does not yet pay for the capital it uses. It comes from a 9.6% net margin and 0.76× asset turnover (sales divided by assets). Why the return is what it is (FY26): a 9.6% net margin × 0.76× asset turnover × 1.53× leverage (assets divided by equity) ≈ 11.2% on equity. The margin does its share; borrowing plays a small part, so this return is earned, not borrowed. The key test, return on capital used minus the cost of capital: 10.5% − 12.0% = −1.5 percentage points. The 12.0% is a standard assumption for the cost of capital in India, not an estimate for this company. Read the sign and size of the gap, not the decimals. Negative: growth at these returns loses value until returns improve. The 10.5% ROIC above is the latest reading, as reported. The yearly chart below shows FY26 at 9.4%, and the quarterly chart works out each 12-month window from the quarterly figures, so the readings differ by date, not by method. ## Does Artemis Medicare Services have too much debt? Artemis Medicare Services Ltd has total debt of ₹262 Cr against shareholder equity of ₹941 Cr as of Jun 2026, so its debt is 0.28× its equity, which is very little. Year by year, that ratio went from 0.56 in FY22 to 0.28 in FY26. So the returns on this page come from the business, not from borrowed money. ## What is the Artemis Medicare Services shareholding pattern? Foreign institutions raised their stake in Artemis Medicare Services Ltd by 12.2 percentage points over 8 quarters, the biggest change among its owners. Foreign institutions now own 12.4% of the company. Promoters moved −8.8 points over the same period, to 58.4%. This uses the four owner groups that companies report every quarter; nothing is guessed between filings. Over the last two years: Foreign institutions: +12.2 points over 8 quarters, to 12.4%; Promoters: −8.8 points over 8 quarters, to 58.4%; Domestic institutions: −1.7 points over 8 quarters, to 1.9%. Why the owners changed: foreign institutions moved +12.2 points and domestic institutions −1.7 points over 8 quarters, while promoters moved −8.8 points. One group of institutions took over shares from the other; it is not a change of mind by the people running the company. ## How far is Artemis Medicare Services from balance-sheet trouble? For Artemis Medicare Services Ltd, the Z-score is not available, so we say so rather than guess one. It estimates how far the balance sheet is from trouble; it is not a forecast of failure. The debt, cash-flow and return sections show the balance-sheet figures we do have, each with its own date. ## How does Artemis Medicare Services rank in its industry? 56.9 out of 100, rank 8 of 20 in Hospitals, with 100% of the evidence available. Artemis Medicare Services Ltd scores 56.9 out of 100 against the 20 companies it is compared with in Hospitals, ranking 8. The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. The four parts add up to the total exactly: 19.4 + 12.8 + 8 + 16.7 = 56.9. This is the same number shown on the industry page; it is worked out once for the whole group and read here. What would change it: The score would fall if profit growth turns negative or margins stop improving while the share price lags its sector. ## Which companies is Artemis Medicare Services compared with? Artemis Medicare Services ranks 8 of 20 Hospitals companies on the 4-Factor Sector Score, with 56.9 out of 100. 1. [KMC Speciality Hospitals (India) Ltd](https://www.sectoralpha.in/stocks/kmc-speciality-hospitals-indialtd) KMCSHIL · breaking out · Sector-leading setup · 81% evidence 80.7 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 31.0/35 · Revenue 35.1% · Profit 100% · Operating margin change 6 points · 88% evidence Capital efficiency 23.1/25 · ROCE 26.2% · Operating margin 31% · 100% evidence Valuation 14.1/20 · P/E 43.4× · PEG 0.68 · 100% evidence Relative strength 12.5/20 · Lead over its industry n/a · Lead over NIFTY 500 45.6% · 1 year 115.4% · 25% evidence · 5 of 5 weeks ahead Exact sum: 31 + 23.1 + 14.1 + 12.5 = 80.7 · What this means: Earnings, capital efficiency and relative strength all agree. The open questions are about management, upcoming events and risks. 2. [Sakar Healthcare Ltd](https://www.sectoralpha.in/stocks/sakar-healthcare-ltd) SAKAR · leader · Most evidence points up · 100% evidence 68.9 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 32.5/35 · Revenue 47.5% · Profit 100% · Operating margin change 8 points · 100% evidence Capital efficiency 11.5/25 · ROCE 12.4% · Operating margin 28% · 100% evidence Valuation 11.1/20 · P/E 49× · PEG 1.05 · 100% evidence Relative strength 13.8/20 · Lead over its industry 41.8% · Lead over NIFTY 500 45.4% · 1 year 161.6% · 100% evidence · 12 of 12 weeks ahead Exact sum: 32.5 + 11.5 + 11.1 + 13.8 = 68.9 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 3. [Apollo Hospitals Enterprise Ltd](https://www.sectoralpha.in/stocks/apollo-hospitals-enterprise-ltd) APOLLOHOSP · turning · Most evidence points up · 78% evidence 68.5 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 24.0/35 · Revenue 17.2% · Profit 33.2% · Operating margin change 1 points · 83% evidence Capital efficiency 15.2/25 · ROCE 17.4% · Operating margin 16% · 76% evidence Valuation 12.7/20 · P/E 57.7× · PEG n/a · 50% evidence Relative strength 16.6/20 · Lead over its industry 6.6% · Lead over NIFTY 500 11.2% · 1 year 10% · 100% evidence · 4 of 12 weeks ahead Exact sum: 24 + 15.2 + 12.7 + 16.6 = 68.5 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 4. [Dr Agarwals Eye Hospital Ltd](https://www.sectoralpha.in/stocks/dr-agarwals-eye-hospital-ltd) DRAGARWQ · breaking out · Evidence leans up · 81% evidence 62.6 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 21.1/35 · Revenue 20.1% · Profit 31.6% · Operating margin change -2 points · 88% evidence Capital efficiency 17.4/25 · ROCE 17.2% · Operating margin 30% · 100% evidence Valuation 12.5/20 · P/E 33.7× · PEG 1.36 · 100% evidence Relative strength 11.6/20 · Lead over its industry n/a · Lead over NIFTY 500 9.2% · 1 year 0.8% · 25% evidence · 8 of 12 weeks ahead Exact sum: 21.1 + 17.4 + 12.5 + 11.6 = 62.6 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 5. [Kovai Medical Center & Hospital Ltd](https://www.sectoralpha.in/stocks/kovai-medical-center-hospital-ltd) KOVAI · breaking out · Evidence leans up · 96% evidence 61.5 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 18.8/35 · Revenue 15% · Profit 15.8% · Operating margin change 1 points · 88% evidence Capital efficiency 19.1/25 · ROCE 22.6% · Operating margin 29% · 100% evidence Valuation 8.9/20 · P/E 24.8× · PEG 2.01 · 100% evidence Relative strength 14.7/20 · Lead over its industry 1.9% · Lead over NIFTY 500 6.6% · 1 year -9.2% · 100% evidence · 10 of 12 weeks ahead Exact sum: 18.8 + 19.1 + 8.9 + 14.7 = 61.5 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 6. [GPT Healthcare Ltd](https://www.sectoralpha.in/stocks/gpt-healthcare-ltd) GPTHEALTH · quiet · Evidence leans up · 81% evidence 61.2 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 15.4/35 · Revenue 18% · Profit 0% · Operating margin change 3 points · 88% evidence Capital efficiency 18.2/25 · ROCE 19.9% · Operating margin 19% · 100% evidence Valuation 18.5/20 · P/E 23× · PEG 0.94 · 100% evidence Relative strength 9.1/20 · Lead over its industry n/a · Lead over NIFTY 500 -2.1% · 1 year -10.7% · 25% evidence · 4 of 12 weeks ahead Exact sum: 15.4 + 18.2 + 18.5 + 9.1 = 61.2 · What this means: The valuation scores well, but earnings are not improving yet, so the business does not back up the low multiple so far. 7. [Yatharth Hospital & Trauma Care Services Ltd](https://www.sectoralpha.in/stocks/yatharth-hospital-trauma-care-services-ltd) YATHARTH · breaking out · Evidence leans up · 78% evidence 57.6 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 19.4/35 · Revenue 43.9% · Profit 22.5% · Operating margin change -2 points · 83% evidence Capital efficiency 12.4/25 · ROCE 12.9% · Operating margin 23% · 76% evidence Valuation 6.7/20 · P/E 49.3× · PEG n/a · 50% evidence Relative strength 19.1/20 · Lead over its industry 17.1% · Lead over NIFTY 500 21.6% · 1 year 16.4% · 100% evidence · 10 of 12 weeks ahead Exact sum: 19.4 + 12.4 + 6.7 + 19.1 = 57.6 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 8. Artemis Medicare Services Ltd this page ARTEMISMED · leader · Evidence leans up · 100% evidence 56.9 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 19.4/35 · Revenue 14.7% · Profit 20% · Operating margin change 0 points · 100% evidence Capital efficiency 12.8/25 · ROCE 14.6% · Operating margin 18% · 100% evidence Valuation 8.0/20 · P/E 39.7× · PEG 2.44 · 100% evidence Relative strength 16.7/20 · Lead over its industry 8.4% · Lead over NIFTY 500 12.9% · 1 year 18.4% · 100% evidence · 12 of 12 weeks ahead Exact sum: 19.4 + 12.8 + 8 + 16.7 = 56.9 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 9. [Indraprastha Medical Corporation Ltd](https://www.sectoralpha.in/stocks/indraprastha-medical-corporation-ltd) INDRAMEDCO · quiet · Evidence leans up · 85% evidence 51.8 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 13.3/35 · Revenue 10.8% · Profit 10.9% · Operating margin change 0 points · 100% evidence Capital efficiency 17.6/25 · ROCE 35.8% · Operating margin 19% · 100% evidence Valuation 13.2/20 · P/E 14.6× · PEG 1.47 · 100% evidence Relative strength 7.7/20 · Lead over its industry n/a · Lead over NIFTY 500 -19.7% · 1 year -49.6% · 25% evidence · 0 of 12 weeks ahead Exact sum: 13.3 + 17.6 + 13.2 + 7.7 = 51.8 · What this means: The valuation scores well, but earnings are not improving yet, so the business does not back up the low multiple so far. 10. [Global Health Ltd](https://www.sectoralpha.in/stocks/global-health-ltd) MEDANTA · losing its lead · Evidence leans up · 96% evidence 50.5 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 13.5/35 · Revenue 21.3% · Profit 3.4% · Operating margin change -2 points · 88% evidence Capital efficiency 17.3/25 · ROCE 17.4% · Operating margin 22% · 100% evidence Valuation 5.5/20 · P/E 59.7× · PEG 9.11 · 100% evidence Relative strength 14.2/20 · Lead over its industry 3.7% · Lead over NIFTY 500 8.1% · 1 year -3.1% · 100% evidence · 8 of 12 weeks ahead Exact sum: 13.5 + 17.3 + 5.5 + 14.2 = 50.5 · What this means: Relative strength against the index is 8.1%, and revenue and profit growth are weak. 11. [Rainbow Childrens Medicare Ltd](https://www.sectoralpha.in/stocks/rainbow-childrens-medicare-ltd) RAINBOW · quiet · Evidence leans up · 100% evidence 50.3 out of 100 Growth Capital Valuation Relative
12. [Max Healthcare Institute Ltd](https://www.sectoralpha.in/stocks/max-healthcare-institute-ltd) MAXHEALTH · quiet · Evidence leans down · 85% evidence 48.7 out of 100 Growth Capital Valuation Relative
13. [Fortis Healthcare Ltd](https://www.sectoralpha.in/stocks/fortis-healthcare-ltd) FORTIS · basing · Evidence leans down · 78% evidence 45.1 out of 100 Growth Capital Valuation Relative
14. [Shalby Ltd](https://www.sectoralpha.in/stocks/shalby-ltd) SHALBY · quiet · Evidence leans down · 63% evidence 42.0 out of 100 Growth Capital Valuation Relative
15. [Narayana Hrudayalaya Ltd](https://www.sectoralpha.in/stocks/narayana-hrudayalaya-ltd) NH · quiet · Evidence leans down · 78% evidence 40.8 out of 100 Growth Capital Valuation Relative
16. [Aster DM Quality Care Ltd](https://www.sectoralpha.in/stocks/aster-dm-quality-care-ltd) ASTERDM · quiet · Evidence leans down · 96% evidence 35.2 out of 100 Growth Capital Valuation Relative
17. [Krishna Institute of Medical Sciences Ltd](https://www.sectoralpha.in/stocks/krishna-institute-of-medical-sciences-ltd) KIMS · quiet · Most evidence points down · 78% evidence 34.8 out of 100 Growth Capital Valuation Relative
18. [Jupiter Life Line Hospitals Ltd](https://www.sectoralpha.in/stocks/jupiter-life-line-hospitals-ltd) JLHL · quiet · Most evidence points down · 100% evidence 33.0 out of 100 Growth Capital Valuation Relative
19. [Healthcare Global Enterprises Ltd](https://www.sectoralpha.in/stocks/healthcare-global-enterprises-ltd) HCG · quiet · Most evidence points down · 71% evidence 31.1 out of 100 Growth Capital Valuation Relative
20. [Manipal Health Enterprises Ltd](https://www.sectoralpha.in/stocks/manipal-health-enterprises-ltd) MANIPALHOS · Too little evidence to rank firmly · 38% evidence 42.4 out of 100 Growth Capital Valuation Relative

Missing figures are not scored as bad. They lower the confidence and pull the final score toward the middle. Relative strength counts only when the company has a reading for this week; with no reading, that factor is left out and its 20 points are shared across the other three in proportion. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led NIFTY 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step path the industry is placed on (basing, turning, breaking out, leader, fading, asleep), read from how many weeks running it has led NIFTY 500 and whether that lead is growing or shrinking. It describes where the share price stands, not the direction of earnings, and it is not a recommendation; it is left blank for a company whose weekly history is too short or too stale to read. The figures in this ranking come from the industry comparison: results through the Sep 2026 quarter, and the P/E at that quarter's end. The sections above use the latest weekly price, so a P/E or return there can differ a little from the one here. The stage words in this ranking (such as losing its lead or breaking out) describe the lead over the index, not the price phase in the price section. Related companies: [Hospitals](https://www.sectoralpha.in/sectors/hospitals), all 20 compared on one page. ## Which companies are close to Artemis Medicare Services in size? Artemis Medicare Services is the 14th largest of 20 Hospitals companies on Sector Alpha by market value (scores of 30 October 2026). Just above it: Healthcare Global Enterprises, Jupiter Life Line Hospitals and Kovai Medical Center & Hospital. Just below it: Indraprastha Medical Corporation, Dr Agarwals Eye Hospital and KMC Speciality Hospitals (India). ### Hospitals companies close in size

1. [Healthcare Global Enterprises Ltd](https://www.sectoralpha.in/stocks/healthcare-global-enterprises-ltd) ₹8,742 crore
2. [Jupiter Life Line Hospitals Ltd](https://www.sectoralpha.in/stocks/jupiter-life-line-hospitals-ltd) ₹8,430 crore
3. [Kovai Medical Center & Hospital Ltd](https://www.sectoralpha.in/stocks/kovai-medical-center-hospital-ltd) ₹6,363 crore
4. Artemis Medicare Services Ltd ₹4,642 crore
5. [Indraprastha Medical Corporation Ltd](https://www.sectoralpha.in/stocks/indraprastha-medical-corporation-ltd) ₹2,802 crore
6. [Dr Agarwals Eye Hospital Ltd](https://www.sectoralpha.in/stocks/dr-agarwals-eye-hospital-ltd) ₹2,570 crore
7. [KMC Speciality Hospitals (India) Ltd](https://www.sectoralpha.in/stocks/kmc-speciality-hospitals-indialtd) ₹2,420 crore

[All 20 Hospitals companies, largest first](https://www.sectoralpha.in/sectors/hospitals#all-companies)

### Companies close in size in other industries

1. [Greaves Cotton Ltd](https://www.sectoralpha.in/stocks/greaves-cotton-ltd) ₹4,645 crore · Engines
2. [Lumax Industries Ltd](https://www.sectoralpha.in/stocks/lumax-industries-ltd) ₹4,645 crore · Auto Ancillaries - Head lamps lights
3. Artemis Medicare Services Ltd ₹4,642 crore
4. [Sharda Motor Industries Ltd](https://www.sectoralpha.in/stocks/sharda-motor-industries-ltd) ₹4,640 crore · Auto Ancillaries - Diversified
5. [TVS Supply Chain Solutions Ltd](https://www.sectoralpha.in/stocks/tvs-supply-chain-solutions-ltd) ₹4,619 crore · Logistics - Warehousing/Supply Chain

## What else do people ask about Artemis Medicare Services? ### What is Artemis Medicare Services's share price today? Artemis Medicare Services Ltd's share price is ₹285.75, +15.4% over the past year. The whole company is worth ₹4,527 Cr on the market. In the last 52 weeks it traded between ₹216 to ₹368; today it is 46% of the way up from the low, 0.2% below its 200-day average (as of 3 November 2026). ### What were Artemis Medicare Services's latest quarterly results? Artemis Medicare Services Ltd reported revenue of ₹311 Cr and net profit of ₹31.0 Cr for the Sep 2026 quarter. Revenue rose 13.1% and profit rose 3.3% compared with a year earlier. Earnings per share were ₹1.96. The operating margin was 18.0%, 0.0 percentage points higher than a year earlier (as of 3 November 2026). ### What is Artemis Medicare Services's market cap? Artemis Medicare Services Ltd's market capitalisation is ₹4,527 Cr at a share price of ₹285.75. Market cap is the share price times the number of shares, so it changes whenever the price moves (as of 3 November 2026). ### How is Artemis Medicare Services performing? Artemis Medicare Services Ltd's share price has been rising for 22 weeks. In its latest quarter, revenue rose 13.1% and profit rose 3.3% compared with a year earlier. Over the past 13 weeks it has done worse than the NIFTY 500, for 1 week running (as of 3 November 2026). ### Will Artemis Medicare Services's share price go up? This page does not forecast Artemis Medicare Services Ltd's share price. What it shows instead: the share price is ₹285.75, and it has been rising for 22 weeks. Its P/E of 38.7× is higher than 47% of its own last 6 years (as of 3 November 2026). ### Who owns Artemis Medicare Services? Promoters own 58.4% of Artemis Medicare Services Ltd, foreign institutions 12.4%, domestic institutions 1.9% and the public 21.1% (latest quarter). The biggest change over the last two years: Foreign institutions raised their stake by 12.2 percentage points over 8 quarters (as of 3 November 2026). ### Does Artemis Medicare Services have too much debt? No, Artemis Medicare Services Ltd has little debt: its debt is 0.28× its equity, and its operating profit is 7 times its interest bill. FY26 borrowings were ₹262 Cr against equity of ₹935 Cr. So the returns on this page come from the business, not borrowed money (as of 3 November 2026). ### Where is Artemis Medicare Services in its business cycle? Artemis Medicare Services Ltd's FY26 operating margin was 17.0%, against a 13-year range of 9.0% to 17.0%: the top of its range, a record year. When profit is at a record, every ratio looks better than usual, and the story depends on margins staying high. The latest quarter was 18.0%. Comparing margins with a company's own long history is a good way to see where it is in its cycle (as of 3 November 2026). ### What could break the Artemis Medicare Services story? The main question: promoters moved −8.8 percentage points over 8 quarters while the business went the other way. On price, this page treats a rise as over when the share price closes below its 200-day average on two Fridays in a row (as of 3 November 2026). ### Is Artemis Medicare Services a stock worth studying right now? What the numbers show: Artemis Medicare Services Ltd's share price, valuation and earnings point in different directions. The next one or two quarters should make it clearer. The main open question: whether the owners’ moves turn back in line with the business. Every number on this page is worked out by code from the published figures, with no forecasts and no price opinions (as of 3 November 2026). ### Is there a Artemis Medicare Services share price forecast for 2026? What management itself guided: Gurgaon occupancy goal of 70% by July to September 2026. What would change the story: The thesis breaks if Gurgaon occupancy does not progress toward management’s stated 70% July to September 2026 goal while consolidated operating margin falls materially through the Raipur ramp, because that would show the claimed fixed-cost leverage is not offsetting new-capacity losses. ### Where does this page get Artemis Medicare Services' management information? From Artemis Medicare Services' results calls, its filings and public records on governance, each dated on the page. Management’s plans are shown as plans, never as results. This is research, not advice. We’re not SEBI-registered.