# Global Health share price today (Global Health Ltd, NSE: MEDANTA)

> Global Health share price today: ₹1,325.80 at the NSE close on 3 November 2026, up 1.1% in a year. Global Health (NSE: MEDANTA) is worth ₹35,657 crore, trades at a P/E of 62.3 and has closed between ₹985.30 and ₹1,499.40 over the past 52 weeks. > Global Health Ltd's share price, valuation and earnings point in different directions. The next one or two quarters should make it clearer. MEDANTA · Hospitals · data as of 3 November 2026. Page: https://www.sectoralpha.in/stocks/global-health-ltd

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## Key numbers

- Business trend: Slowing from a peak, from the last 12 quarters
- Price: ₹1,325.80 (+1.1% in a year)
- P/E: 62.3× (lower than 55% of the last 3.9 years)
- Revenue (Jun 2026): ₹1,304 Cr (+26.5% on a year ago)
- Profit (Jun 2026): ₹157 Cr (−1.3% on a year ago)
- Operating margin: 22.0% (−2.0 points on a year ago)
- ROCE: 17%, FY26
- ROIC: 13.8%, against a 12.0% cost of capital: +1.8 points

The main question: domestic institutions moved +5.9 percentage points over 8 quarters while the business went the other way. ## What is the Global Health share price today? Global Health Ltd's share price was ₹1,325.80 at the close on 3 November 2026. It has been rising for 20 weeks. That is 2.5% above its average price over the last 200 trading days. In the last 52 weeks it traded between ₹985 and ₹1,499, and at that close it sat 66% of the way up from that low. Over the past 13 weeks it has done better than the NIFTY 500, and it has stayed ahead for 1 week in a row. Over the last 4 years the share price moved +220% while the NIFTY 500 moved +41%, so it is ahead of the index over that whole period. 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 Global Health this quarter? Three changes stood out: indian funds and insurers (DIIs) raised their stake for 7 quarters in a row, revenue up on a year earlier for 11 quarters in a row (every quarter we can compare) and highest quarterly revenue in 15 quarters. 1. Indian funds and insurers (DIIs) raised their stake for 7 quarters in a row From 10.5% to 17% of the company by the September 2026 quarter. 2. Revenue up on a year earlier for 11 quarters in a row (every quarter we can compare) In the June 2026 quarter revenue was ₹1,304 crore, +26.5% on a year earlier. 3. Highest quarterly revenue in 15 quarters Revenue of ₹1,304 crore in the June 2026 quarter is the highest of the last 15 quarters. ## What are Global Health's latest quarterly results? For April to June 2026 (the quarter ended 30 June 2026), Global Health reported revenue of ₹1,304 crore, up 26.5% from ₹1,031 crore a year earlier, and a profit of ₹157 crore, down 1.3% from ₹159 crore. ### Global Health results: April to June 2026 against a year earlier

| Measure | April to June 2026 | April to June 2025 | Change |
| --- | --- | --- | --- |
| Revenue | ₹1,304 crore | ₹1,031 crore | +26.5% |
| Profit | ₹157 crore | ₹159 crore | −1.3% |
| Earnings per share | ₹5.90 | ₹5.92 | −0.3% |
| Operating margin | 22.0% | 24.0% | −2.0 points |

The next results, for July to September 2026, are due by 14 November 2026: listed companies must publish quarterly results within 45 days of the quarter's end (60 days for the January to March quarter). Global Health's management discussed these results on a call held on 31 July 2026; what it said is further down this page. (From the company's reported quarterly results (quarter ended 30 June 2026). Revenue and profit in ₹ crore.)

## What is the Global Health share price history? Global Health closed at ₹1,325.80 on 3 November 2026, up 1.1% from ₹1,311.50 a year earlier (31 October 2025) and up 64.4% over three years. Its highest weekly close since November 2022 was ₹1,499.40 on 18 September 2026. ### Global Health share price: then and now

| When | Close | Change to 3 Nov 2026 |
| --- | --- | --- |
| 1 week ago · 23 Oct 2026 | ₹1,185.00 | +11.9% |
| 1 month ago · 1 Oct 2026 | ₹1,357.30 | −2.3% |
| 6 months ago · 30 Apr 2026 | ₹1,117.25 | +18.7% |
| 1 year ago · 31 Oct 2025 | ₹1,311.50 | +1.1% |
| 3 years ago · 3 Nov 2023 | ₹806.25 | +64.4% |
| Earliest and lowest weekly close in our records · 18 Nov 2022 | ₹414.15 | +220.1% |
| Highest weekly close since November 2022, also the 52-week high · 18 Sep 2026 | ₹1,499.40 | −11.6% |
| 52-week low (weekly close) · 27 Mar 2026 | ₹985.30 | +34.6% |

Weekly closing prices. 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. (215 weekly closes from 18 November 2022 to 3 November 2026.)

## What is the latest news on Global Health? 3 Nov 2026: Global Health closed at ₹1,325.80, up 11.9% on the week and down 2.3% on the month. Our read, 22 Aug 2026: Noida gestation loss narrowing from 32.0 Cr to 4.9 Cr unlocks group operating leverage while Lucknow and Patna scale at 28% revenue growth and 32% margins. ### Earlier

- 14 Aug 2026: ex-date for a dividend of ₹0.50 a share. - 31 Jul 2026: Global Health held its results call for April to June 2026. Management guided: Noida operating profit break-even expected earlier than previous expectations based on the current operating trajectory; additional OTs are unlikely in the short term and no cath-lab or radiation-oncology capital spending is planned for the next couple of quarters. - Results for April to June 2026: Revenue up 26.5% and profit down 1.3% on a year earlier. ### Our read of the business

Latest quarter: Revenue expands 26.5% to 1,304 Cr while Noida operating profit loss narrows sharply to 4.9 Cr. (Our read after the latest results, written 22 August 2026.)

## What dividend does Global Health pay? Global Health paid ₹0.50 a share in regular dividends in the 12 months to 4 November 2026 (1 payment), a yield of 0.04% at the ₹1,325.80 close on 3 November 2026. The last was a dividend of ₹0.50 a share, ex-date 14 August 2026. ### Global Health dividends since 1 April 2021

| Ex-date | Dividend per share | Type |
| --- | --- | --- |
| 14 Aug 2026 | ₹0.50 | Dividend |
| 22 Aug 2025 | ₹0.50 | 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. 1 of 5 Of the last 5 financial years, years with an NSE dividend record

Yes. Global Health Ltd paid out 2% of its profit as dividends in FY26, and it paid a dividend in 1 of its last 10 reported years. (From the NSE corporate-actions record, read 4 November 2026.)

## What did Global Health management say on the latest results call? On the call for April to June 2026, held on 31 July 2026, Global Health's management guided: Noida operating profit break-even expected earlier than previous expectations based on the current operating trajectory; additional OTs are unlikely in the short term and no cath-lab or radiation-oncology capital spending is planned for the next couple of quarters. > “Based on the current operating trajectory, we expect Noida to break even on an EBITDA basis earlier than our previous expectations.”
> Pankaj Sahni, Group CEO and Director, on the call for April to June 2026

### What management guided

- Guwahati planned at 650 beds with estimated project cost of approximately ₹9,700 million; construction is underway, with expanded procedure capacity including 28-30 operating rooms and doubled cath labs and LINACs/bunkers. - Announced expansion pipeline represents nearly 3,350 additional beds, with South Delhi under construction and other locations in design, statutory approvals and planning. - Future project capital spending requirement is ₹4,850 crore. - An acquired 82-bed Indore facility is expected to come on board toward the end of Q2 or early October to December 2026; Gurgaon may add 2 operating rooms and 2-3 cath labs in July to September 2026. Management’s own plans and goals, from our notes of the call. A plan is not a result. Source: [the call transcript](https://files.tijoristack.ai/concall/transcript/45725-31-Jul-2026.pdf). (From the call for April to June 2026, 31 July 2026.)

## What is the future of Global Health? What is changing in the business? What is changing at Global Health, from the latest results and calls: noida hospital turnaround & operating leverage catapult, cluster 2 (lucknow & patna) regional dominance and brownfield procedural & operating theatre debottlenecking. - Noida Hospital Turnaround & Operating Leverage Catapult. Operating profit loss compression from 32.0 Cr in October to December 2025 to 4.9 Cr in April to June 2026 unlocks consolidated margin expansion. ✓ fact
- Cluster 2 (Lucknow & Patna) Regional Dominance. Developing cluster generates 28% revenue growth and 32.0% operating margin in underserved catchments. ✓ fact
- Brownfield Procedural & Operating Theatre Debottlenecking. Adding 10 operating theatres and 500 organic beds across mature and developing units with low capital outlay. ✓ fact
- Long-Term 3,350-Bed Greenfield Expansion Pipeline. Greenfield pipeline across Guwahati, South Delhi, Varanasi, and Mumbai extends revenue runway into FY30. ✓ fact

We check 16 kinds of change in every company, such as costs spread over more sales, higher-value products, new orders, new regions or falling debt, against its reported numbers and what management said on its calls. Only changes the numbers back are shown. (Our read after the latest results, written 22 August 2026.)

## What could change the Global Health story? What are the risks? Noida quarterly operating profit losses widening back above 15 Cr in Q2/October to December 2026 or mature Cluster 1 operating margins slipping below 22.0% due to NCR clinician attrition. ### Each change stops working if

- Noida Hospital Turnaround & Operating Leverage Catapult: Noida occupancy stalls below 35% or insurance tariff negotiations compress realizations below 60,000 ARPOB. - Cluster 2 (Lucknow & Patna) Regional Dominance: Regional physician supply constraints halt procedural expansion or state government tariff caps restrict private billing. - Brownfield Procedural & Operating Theatre Debottlenecking: Hospital occupancy reaches 80% ceiling without timely completion of brownfield bed fit-outs. - Long-Term 3,350-Bed Greenfield Expansion Pipeline: Statutory approval delays or project cost overruns exceed 20% of estimated budget. ### The main risks

- Elevated 5-Year Capital spending Pipeline Compressing Free Cash Flow: Planned 4,850 Cr capital outlay and 800-900 Cr FY27 capital spending keeps free cash flow negative during construction. ⚠ estimate
- Clinical Talent Competition & Junior Medical Staff Attrition: Aggressive bed expansion by competing hospital chains in NCR creates wage pressure for nursing and junior doctors. ⚠ estimate
- Working Capital Extension from Government & Institutional Payers: CGHS and ECHS receivables have 6-9 month realization cycles, causing debtor days to increase from 24 to 34 days. ⚠ estimate

(Our read after the latest results, written 22 August 2026.)

## What to watch in Global Health's next results? When Global Health reports July to September 2026, these are the 4 checks that show whether the story is still on course. First: Noida operating profit loss of ₹49 million to move toward the indicated earlier-than-expected break-even point as volumes and beds continue ramping. - What to check (from the call)
- Noida operating profit loss of ₹49 million to move toward the indicated earlier-than-expected break-even point as volumes and beds continue ramping. - The acquired 82-bed Indore facility to come on board toward the end of Q2 or early October to December 2026, with cancer-related services added to the cluster. - Gurgaon to activate 2 operating rooms and potentially 2-3 cath labs in July to September 2026; track whether procedure capacity supports further mature-hospital growth. - Guwahati construction to progress under the revised 650-bed plan, with statutory approvals and execution remaining the key implementation milestones. ## Which stock lists is Global Health on? Global Health is on one of our India lists: Small & mid cap stocks. [Small & mid cap stocks Size rank in India: 249](https://www.sectoralpha.in/small-cap-stocks-india)

## Is Global Health profitable? Global Health Ltd earned ₹157 Cr of net profit in the Jun 2026 quarter, −1.3% on the same quarter a year earlier. Full-year FY26 profit was ₹554 Cr. Over 10 years profit has grown 12.5% a year on average. That is 12.0% of the quarter's revenue. The same quarter a year earlier earned ₹159 Cr. For the full year, FY26 profit was ₹554 Cr (+15.2% on the year before). Why profit moved: revenue changed +26.5% on a year earlier and the margin moved −2.0 percentage points. Sales did the work while the margin got thinner. On average over the last four quarters, profit changed +6.6% and revenue +21.2%. Profit is growing slower than sales: rising costs are taking part of the growth. FY26-Q4. revenue ₹1,159 Cr and profit ₹142 Cr as reported. FY27-Q1. revenue ₹1,304 Cr and profit ₹157 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 Global Health make, and is it growing? Global Health Ltd reported ₹1,304 Cr of revenue in the Jun 2026 quarter, +26.5% 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 12.3% a year on average. The last full year, FY26, came in at ₹4,410 Cr. The last four reported quarters add to ₹4,683 Cr. FY26 revenue was ₹4,410 Cr, +19.4% on the year before. Recent pace: the last four quarters grew +21.2% on average, against 12.3% 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 +21.3%, against +18.2% a year over the last 8 quarters (accelerating); profit over the last 12 months grew +3.4%, against +7.0% a year (rolling over). FY26-Q4. revenue ₹1,159 Cr and profit ₹142 Cr as reported. FY27-Q1. revenue ₹1,304 Cr and profit ₹157 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 Global Health keep? Global Health Ltd's operating margin was 22.0% in the Jun 2026 quarter, 2.0 percentage points lower than the same quarter a year ago. Across 10 years it has been between 9.0% and 25.0%. The latest quarter is within that range. Why this happened. The 550-bed Noida tertiary care hospital (382 operational beds, 14 operating theatres) is completing its gestation phase. Quarterly EBITDA loss narrowed from 32.0 Cr in Q3 FY26 to 23.6 Cr in Q4 FY26 and 4.9 Cr in Q1 FY27 on revenue of 85.5 Cr. Empanelments with major private insurers, CGHS, and ECHS are driving volume through high-margin quaternary specialties including robotic surgery and bone marrow transplants. Moving from EBITDA loss to positive cash generation directly adds over 100 Cr to annual consolidated operating profit. Why the margin moved: operating margin changed −1.9 percentage points on the year while gross margin changed +0.6 points. So the drop came mostly from costs below the gross margin, such as staff and overheads, measured against sales. FY26-Q4. revenue ₹1,159 Cr and profit ₹142 Cr as reported. FY27-Q1. revenue ₹1,304 Cr and profit ₹157 Cr as reported. Why-sources: our stock research file (22 August 2026) and the company’s own results for those quarters. ## Is Global Health's profit turning into cash? Over the last 3 years, 129% of Global Health Ltd's reported profit came in as cash from its operations, so the profit is backed by cash. In FY26 it brought in ₹714 Cr of operating cash against ₹554 Cr of profit. After ₹1,103 Cr of spending on assets, free cash was −₹389 Cr: it spent more than its operations brought in. Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year. Why 129% of profit came in as cash: the cash cycle got 36 days longer between FY21 and FY26, so more of each rupee of profit waits in the business before it arrives. What to look at next: the bigger use of cash is spending on new assets, at 3.6× depreciation over three years. The next section checks what that spending is building. ## Where does Global Health's cash go? Global Health Ltd's cash cycle, the days between paying suppliers and getting paid by customers, was −26 days in FY26, up from −62 days in FY21. It spent ₹2,140 Cr on assets over the last 3 years. Customers take 34 days to pay, and stock sits for 29 days on average. Why this happened. Medanta has initiated execution on 3,350 pipeline beds to replicate the Lucknow/Patna hub-and-spoke model. Key projects include Guwahati (scaled up to 650 beds, 28-30 OTs, 970 Cr project cost with construction underway), South Delhi (sub-structure complete), Varanasi (400-bed build-to-suit model reducing capex intensity), and Mumbai (750 beds planned). This capital program secures 15-20% multi-year revenue growth across under-served healthcare corridors. At FY26 sales of ₹4,410 Cr, each day of that cycle ties up about ₹12.1 Cr, so roughly −₹314 Cr is tied up in the business at any time. FY26: customers took 34 days to pay and stock sat for 29 days, about 1.0 months of sales sitting as stock, for a full cycle of −26 days, longer than FY21's −62. The full loop: cash goes out to suppliers and production on day 0. Stock sits for 29 days. Customers pay about 34 days after that. Suppliers are paid at 89 days. Together that makes the −26-day cycle. Spending on assets: ₹2,140 Cr over the last 3 years, against ₹590 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 ₹132 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 Global Health's P/E ratio, and how does it compare with its own history? Global Health Ltd's P/E is 62.3×, in the middle of its own history: higher than 45% of past readings. Its usual P/E (the middle reading) is 63.3×, over 3.9 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 Jun 2026 add up to ₹20.69. Why the multiple is where it is: over the past year earnings per share moved +15.5% while the price moved +1.1%. Earnings did better than the price, which pulled the multiple down within its own range. Where the price move came from: over 3 years the price moved +18.0% a year; about +15.6% a year came from earnings growth and about +2.4 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 Global Health share price assume? Worked out from its price on 26 August 2026, Global Health Ltd's share price assumed profit growth of about 32.4% a year. Over the past 10 years its profit actually grew 12.5% a year. Today its P/E is 62.3×, lower than 55% of its own last 3.9 years. This is a one-day reading, taken on 26 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 Global Health business getting better or worse? Global Health Ltd's business is slowing from a peak. Profit and EPS growth have slowed sharply (profit growth from +75.5% at its peak to +3.4% now), while ROCE is still 17.3%. This is based on 12 quarters of 4 measures. Why it matters: slowing from a peak is where good stories often end quietly. ## What is the Global Health story, and has it been checked? Global Health Ltd's story is not scored yet against the checks our research set on 22 August 2026. Where it sits in its own cycle: EARLY STAGE_2_EXPANSION. Still open: Noida quarterly EBITDA losses widening back above 15 Cr in Q2/Q3 FY27 or mature Cluster 1 operating margins slipping below 22.0% due to NCR clinician attrition. Our read, 22 August 2026. Noida gestation loss narrowing from 32.0 Cr to 4.9 Cr unlocks group operating leverage while Lucknow and Patna scale at 28% revenue growth and 32% margins. From the numbers. Medanta is emerging from margin compression as its newly commissioned Noida hospital approaches profitability. From the price. Price stage 2, week 20, below its 200-day line, relative strength falling. From the research. Noida gestation loss narrowing from 32.0 Cr to 4.9 Cr unlocks group operating leverage while Lucknow and Patna scale at 28% revenue growth and 32% margins. Where they disagree. Medanta is emerging from margin compression as its newly commissioned Noida hospital approaches profitability. What is proven. Noida gestation loss narrowing from 32.0 Cr to 4.9 Cr unlocks group operating leverage while Lucknow and Patna scale at 28% revenue growth and 32% margins. What is not proven yet. Noida quarterly EBITDA losses widening back above 15 Cr in Q2/Q3 FY27 or mature Cluster 1 operating margins slipping below 22.0% due to NCR clinician attrition. What would change our mind. Noida quarterly EBITDA losses widening back above 15 Cr in Q2/Q3 FY27 or mature Cluster 1 operating margins slipping below 22.0% due to NCR clinician attrition. The test written in advance. Noida quarterly EBITDA losses widening back above 15 Cr in Q2/Q3 FY27 or mature Cluster 1 operating margins slipping below 22.0% due to NCR clinician attrition. Measured by: the thesis as written as stated by the next result. The test written in advance. Elevated 5-Year Capex Pipeline Compressing Free Cash Flow. Measured by: Elevated 5-Year Capex Pipeline Compressing Free Cash Flow Quarterly capex spend exceeding 250 Cr while operating cash flow conversion slips below 1.0x PAT. by the next result. The test written in advance. What the company does. Reported operating margin compression to 22.0% is transient startup dilution from the 550-bed Noida facility rather than pricing or volume decay. The developing cluster in Lucknow and Patna operates at 32.0% EBITDA margins with inpatient volume expanding 27% to 50% across underserved tier-2 catchments. With Noida reaching EBITDA breakeven in H2 FY27 and 3,350 beds in the pipeline, consolidated earnings are set to expand above 20% annually. What the surface reading misses. The surface reading is: Reported net profit fell 1.3% YoY despite 26.5% revenue growth, suggesting margin compression. The research reads it further: The base quarter (Q1 FY26) included 19.6 Cr (196 million) of exceptional income. Normalized for this one-off, core PBT grew from 208 Cr to 213 Cr and EBITDA grew 23.0%. What the surface reading misses. The surface reading is: Negative free cash flow of -389 Cr in FY26 indicates cash burn. The research reads it further: Operating cash flow expanded to 714 Cr (1.29x PAT), but capex scaled to 1,103 Cr (154% of OCF) to fund Noida, Lucknow, and Patna bed additions. The cash deficit was funded by debt increase (+472 Cr) while net cash remained positive at 591 Cr. Lever 1 · Operating leverage: building. EBITDA loss compression from 32.0 Cr in Q3 FY26 to 4.9 Cr in Q1 FY27 unlocks consolidated margin expansion. What proves it keeps working: Noida Hospital Turnaround & Operating Leverage Catapult. It stops working if Noida occupancy stalls below 35% or insurance tariff negotiations compress realizations below 60,000 ARPOB. Lever 12 · New product launch: building. Greenfield pipeline across Guwahati, South Delhi, Varanasi, and Mumbai extends revenue runway into FY30. What proves it keeps working: Long-Term 3,350-Bed Greenfield Expansion Pipeline. It stops working if Statutory approval delays or project cost overruns exceed 20% of estimated budget. Sources: our stock research file (22 August 2026) · quarterly results through Jun 2026 · the company’s own earnings calls. The story check is re-scored every results season; the record below never changes. ## Did Global Health management deliver what it promised? What Global Health 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. FY27 Capex Guidance Revised ~75% Upward Without Explanation · 15 May 2026. In the Feb 2026 call, management explicitly guided FY27 capex at below Rs.500 crores, citing that major greenfield projects were in early construction phases with capital spend largely back-ended to later years. 5-Year Total Capex Plan Expanded ~50% Without Justification · 15 May 2026. In the Feb 2026 call, management stated total capex at approximately Rs.3,000 crores over the next five years when referencing the company's expansion pipeline from shareholder materials. In the May 2026 call, total project capex over the next 5 years was explicitly stated at approximately Rs.4,500 crores (45,000 million), roughly 50% higher and without any bridging explanation, which materially impacts long-term enterprise-value and return-on-capital assumptions. Noida Breakeven - Explicit H2 FY27 Guidance Contradicts Stated No-Guidance Policy · 15 May 2026. In the Feb 2026 call, management explicitly stated it was company policy not to guide on future earnings and refused to provide any Noida breakeven timeline whatsoever. In the May 2026 call, just three months later, management directly reversed this by providing specific H2 FY27 breakeven guidance for Noida, raising questions about the sincerity of the prior policy stance and the reliability of the newly introduced guidance given management's own stated uncertainty in Feb 2026. Noida Peak Loss Guidance Miss · 5 February 2026. In the November 2025 call, management signaled optimism that the Q2 EBITDA loss of INR 197 million represented the peak loss for the new Noida facility. However, in the February 2026 call, the company reported a significantly widened EBITDA loss of INR 320 million for Q3, contradicting the prior guidance that losses had likely peaked. Earlier call (Nov 2025): “Is this quarter”. Later call (Feb 2026): “The hospital generated Rupees 3,343 million in revenue and reported an EBITDA loss of Rupees 320 million in line with the investment required to operationalize a facility of this scale.”

Every quote above is taken word for word from the company’s own earnings calls. ## What is Global Health management's track record? Operating execution is strong; capital-allocation guidance has moved enough to require verification through the build cycle. ### Regulatory and governance record

The fresh sweep found no Medanta-specific SEBI, fraud or material penalty action. 0% Promoter shares pledged

Sources:

- [trendlyne.com](https://trendlyne.com/research-reports/stock/1108489/MEDANTA/global-health-ltd/)
- [sebi.gov.in](https://www.sebi.gov.in/sebiweb/home/HomeAction.do?doListing=yes&sid=2&smid=6&ssid=9)
- [trendlyne.com](https://trendlyne.com/equity/share-holding/1108489/MEDANTA/latest/global-health-ltd)

(Checked 30 August 2026.)

## How much does Global Health earn on its capital? Global Health Ltd earned a ROCE of 17% in FY26. That is up from a low of 5% in FY21. Its return on capital used (ROIC) is 1.8 percentage points above its cost of capital, so growth here adds value, not just size. It comes from a 12.6% net margin and 0.75× asset turnover (sales divided by assets). Why the return is what it is (FY26): a 12.6% net margin × 0.75× asset turnover × 1.49× leverage (assets divided by equity) ≈ 14.1% 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: 13.8% − 12.0% = +1.8 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. Positive but thin: it creates value with little room for error. The 13.8% ROIC above is the latest reading, as reported. The yearly chart below shows FY26 at 15.3%, and the quarterly chart works out each 12-month window from the quarterly figures, so the readings differ by date, not by method. ## Does Global Health have too much debt? Global Health Ltd has total debt of ₹1,190 Cr against shareholder equity of ₹3,984 Cr as of Jun 2026, so its debt is 0.30× its equity, which is very little. Year by year, that ratio went from 0.69 in FY22 to 0.30 in FY26. So the returns on this page come from the business, not from borrowed money. ## What is the Global Health shareholding pattern? Domestic institutions raised their stake in Global Health Ltd by 5.9 percentage points over 8 quarters, the biggest change among its owners. Domestic institutions now own 17.0% of the company. Foreign institutions moved −2.3 points over the same period, to 9.9%. This uses the four owner groups that companies report every quarter; nothing is guessed between filings. Over the last two years: Domestic institutions: +5.9 points over 8 quarters, to 17.0%; Foreign institutions: −2.3 points over 8 quarters, to 9.9%; Promoters: +0.0 points over 8 quarters, to 33.0%. Why the owners changed: foreign institutions moved −2.3 points and domestic institutions +5.9 points over 8 quarters, while promoters stayed about the same. 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 Global Health from balance-sheet trouble? For Global Health 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 Global Health rank in its industry? 50.5 out of 100, rank 10 of 20 in Hospitals, with 96% of the evidence available. Global Health Ltd scores 50.5 out of 100 against the 20 companies it is compared with in Hospitals, ranking 10. Relative strength against the index is 8.1%, and revenue and profit growth are weak. The four parts add up to the total exactly: 13.5 + 17.3 + 5.5 + 14.2 = 50.5. 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 Global Health compared with? Global Health ranks 10 of 20 Hospitals companies on the 4-Factor Sector Score, with 50.5 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](https://www.sectoralpha.in/stocks/artemis-medicare-services-ltd) 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 this page 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 Global Health in size? Global Health is the 7th largest of 20 Hospitals companies on Sector Alpha by market value (scores of 30 October 2026). Just above it: Aster DM Quality Care, Fortis Healthcare and Narayana Hrudayalaya. Just below it: Krishna Institute of Medical Sciences, Rainbow Childrens Medicare and Yatharth Hospital & Trauma Care Services. ### Hospitals companies close in size

1. [Aster DM Quality Care Ltd](https://www.sectoralpha.in/stocks/aster-dm-quality-care-ltd) ₹59,374 crore
2. [Fortis Healthcare Ltd](https://www.sectoralpha.in/stocks/fortis-healthcare-ltd) ₹57,992 crore
3. [Narayana Hrudayalaya Ltd](https://www.sectoralpha.in/stocks/narayana-hrudayalaya-ltd) ₹35,154 crore
4. Global Health Ltd ₹34,156 crore
5. [Krishna Institute of Medical Sciences Ltd](https://www.sectoralpha.in/stocks/krishna-institute-of-medical-sciences-ltd) ₹29,476 crore
6. [Rainbow Childrens Medicare Ltd](https://www.sectoralpha.in/stocks/rainbow-childrens-medicare-ltd) ₹12,378 crore
7. [Yatharth Hospital & Trauma Care Services Ltd](https://www.sectoralpha.in/stocks/yatharth-hospital-trauma-care-services-ltd) ₹8,931 crore

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

### Companies close in size in other industries

1. [ITC Hotels Ltd](https://www.sectoralpha.in/stocks/itc-hotels-ltd) ₹34,825 crore · Hotels
2. [Karur Vysya Bank Ltd](https://www.sectoralpha.in/stocks/karur-vysya-bank-ltd) ₹34,419 crore · Banks - Private
3. Global Health Ltd ₹34,156 crore
4. [Voltas Ltd](https://www.sectoralpha.in/stocks/voltas-ltd) ₹34,015 crore · Consumer Electronics
5. [AIA Engineering Ltd](https://www.sectoralpha.in/stocks/aia-engineering-ltd) ₹33,557 crore · Capital Goods - Mining Equipement

## What else do people ask about Global Health? ### What is Global Health's share price today? Global Health Ltd's share price is ₹1,325.80, +1.1% over the past year. The whole company is worth ₹35,657 Cr on the market. In the last 52 weeks it traded between ₹985 to ₹1,499; today it is 66% of the way up from the low, 2.5% above its 200-day average (as of 3 November 2026). ### What were Global Health's latest quarterly results? Global Health Ltd reported revenue of ₹1,304 Cr and net profit of ₹157 Cr for the Jun 2026 quarter. Revenue rose 26.5% and profit fell 1.3% compared with a year earlier. Earnings per share were ₹5.90. The operating margin was 22.0%, 2.0 percentage points lower than a year earlier (as of 3 November 2026). ### What is Global Health's market cap? Global Health Ltd's market capitalisation is ₹35,657 Cr at a share price of ₹1,325.80. 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 Global Health performing? Global Health Ltd's share price has been rising for 20 weeks. In its latest quarter, revenue rose 26.5% and profit fell 1.3% compared with a year earlier. Over the past 13 weeks it has done better than the NIFTY 500, for 1 week running (as of 3 November 2026). ### Will Global Health's share price go up? This page does not forecast Global Health Ltd's share price. What it shows instead: the share price is ₹1,325.80, and it has been rising for 20 weeks. Its P/E of 62.3× is higher than 45% of its own last 4 years (as of 3 November 2026). ### Who owns Global Health? Promoters own 33.0% of Global Health Ltd, foreign institutions 9.9%, domestic institutions 17.0% and the public 40.0% (latest quarter). The biggest change over the last two years: Domestic institutions raised their stake by 5.9 percentage points over 8 quarters (as of 3 November 2026). ### Does Global Health have too much debt? No, Global Health Ltd has little debt: its debt is 0.30× its equity, and its operating profit is 10 times its interest bill. FY26 borrowings were ₹1,190 Cr against equity of ₹3,962 Cr. So the returns on this page come from the business, not borrowed money (as of 3 November 2026). ### Where is Global Health in its business cycle? Global Health Ltd's FY26 operating margin was 21.0%, against a 10-year range of 9.0% to 25.0%: the middle of its own range, neither a peak nor a low. The latest quarter was 22.0%. 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 Global Health story? The main question: domestic institutions moved +5.9 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 Global Health a stock worth studying right now? What the numbers show: Global Health 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 Global Health share price forecast for 2026? What management itself guided: Noida operating profit break-even expected earlier than previous expectations based on the current operating trajectory; additional OTs are unlikely in the short term and no cath-lab or radiation-oncology capital spending is planned for the next couple of quarters. What is changing at Global Health, from the latest results and calls: noida hospital turnaround & operating leverage catapult, cluster 2 (lucknow & patna) regional dominance and brownfield procedural & operating theatre debottlenecking. What would change the story: Noida quarterly operating profit losses widening back above 15 Cr in Q2/October to December 2026 or mature Cluster 1 operating margins slipping below 22.0% due to NCR clinician attrition. ### Where does this page get Global Health's management information? From Global Health's results calls, its filings and public records on governance, each dated on the page. Management’s plans are shown as plans, never as results. ## Lists

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