Kovai Medical Center & Hospital Ltd
KOVAIKovai Medical Center & Hospital Ltd's earnings have outrun its stock. EPS grew +17.0% in a year against a −1.8% price move.
Biggest watch item: the P/E sits at the 79th percentile of its own range — the multiple has already done part of the work.
The price is in a confirmed uptrend (9 weeks in) while the P/E sits at the 79th percentile of its own 11-year range. Underneath, the last four quarters read improving — profit +21.1% year on year, and 164% of the last 3 years' profit arrived as cash. What settles it: the next one or two quarters of delivery.
Price story Before the numbers, the tape. A stock price moves through four repeating seasons: a flat base (stage 1), an advance (2), a top (3), a decline (4). Where the price sits in that cycle frames everything below.
Kovai Medical Center & Hospital Ltd trades at ₹6,204, in a confirmed uptrend and 9 weeks into that stage. That is +7.3% against its own 200-day average. It sits at 70% of a 52-week range of ₹5,098 to ₹6,685. On relative strength it has been ahead of the NIFTY 500 on a trailing-13-week view for 3 straight weeks.
Today the stock is in a confirmed uptrend — week 9 of stage 2, confirmed. At ₹6,204 it trades +7.3% versus its 200-day average and sits at 70% of its 52-week range (₹5,098–₹6,685).
Against the market, two honest reads. Cumulative: over the last 10.5 years the stock moved +848% while the NIFTY 500 moved +267% — ahead of the index over the full window. Recent form: on a trailing-13-week view the stock has been ahead for 3 straight weeks — the ribbon below is that same metric, week by week.
What would end the trend, mechanically: two Friday closes in a row below the 200-day line. That is the exit rule — no debates.
Story check
Kovai Medical Center & Hospital Ltd's story is not scored yet against the markers our research file set on 22 August 2026. Where it sits in its own cycle: MID_EXPANSION. Our fortnightly research layers last read it on 22 August 2026.
Our read, 22 August 2026. Single-cluster Coimbatore tertiary healthcare hub compounding revenue at 15.0% and PAT at 15.8% TTM, self-funding 1,004 Cr capex with 1.64x OCF to PAT conversion at 25.8x PE.
From the numbers. The valuation cycle shows the stock trading at 25.8x trailing earnings, down from a peak multiple of 33.3x in August 2025 but remaining at the 71.3 percentile of its 10-year historical range. The pe_pb_cycle engine…
From the price. Price stage 2, week 9 — above its 200-day line, relative strength rising.
From the research. Single-cluster Coimbatore tertiary healthcare hub compounding revenue at 15.0% and PAT at 15.8% TTM, self-funding 1,004 Cr capex with 1.64x OCF to PAT conversion at 25.8x PE.
🚨 Where they disagree. The valuation cycle shows the stock trading at 25.8x trailing earnings, down from a peak multiple of 33.3x in August 2025 but remaining at the 71.3 percentile of its 10-year historical range. The pe_pb_cycle engine assigns an opportunity classification (ratio to median 1.40x) driven by a contracting valuation trend relative to trailing earnings expansion. Concurrently, the cycle normalized engine classifies the multiple as re-rated expensive, pointing out that normalized operating margin of 26.5% implies a normalized PE of 28.1x (84th percentile). Operating cycle progression is in mid-expansion, with annual ROCE stable at 23% and quarterly top-line expansion holding steady at 14% to 16% YoY.
What is proven. Single-cluster Coimbatore tertiary healthcare hub compounding revenue at 15.0% and PAT at 15.8% TTM, self-funding 1,004 Cr capex with 1.64x OCF to PAT conversion at 25.8x PE.
What is not proven yet. A sustained deterioration in quarterly operating profit margin below 24% combined with debtor days expanding beyond 20 days or negative free cash flow for three consecutive quarters without planned capacity commissioning.
🚨 What would change our mind. A sustained deterioration in quarterly operating profit margin below 24% combined with debtor days expanding beyond 20 days or negative free cash flow for three consecutive quarters without planned capacity commissioning.
Layer 1 read, 22 August 2026 — KEEP. Compounds 15% a year on its own cash — but at 25.8x, with no earnings call to test management on. Revenue reached Rs 431 Cr and profit Rs 69 Cr in the June 2026 quarter, the twelfth straight quarter with an operating margin between 27% and 30%. Over three years the business turned Rs 633 Cr of reported profit into Rs 1,041 Cr of actual operating cash — it funds its own expansion and has cut borrowings from Rs 550 Cr to Rs 403 Cr while doing it. What stops this being a high-conviction call is the price: 25.8x trailing earnings against a ten-year range of 8.2x to 33.3x, with the company holding no investor calls, so every management claim rests on filed accounts alone.
What would change Layer 1’s mind. Quarterly operating margin printing below 26% for two consecutive quarters, or Q2 FY27 revenue missing the Rs 435 Cr milestone (M1) — either would mean the medical-college bed ramp has stopped converting fixed cost into profit, and at 25.8x there is no cushion for a stock whose entire case is that earnings grow into the price. A second, separate breaker: debtor days pushing past 20 (they are 9) would say the payer mix has shifted to slow-paying government schemes, which is exactly what driver…
Layer 2 read, 22 August 2026 — ADVANCE. Hospital demand and shrinking new supply support KOVAI, but the share price already expects a lot. KOVAI generated operating cash equal to 1.64 times profit over three years while borrowings fell, so its expansion is self-funded rather than debt-dependent. The external hospital timeline adds a demand TAILWIND, but the modeled margin and valuation percentiles are high [C019, C020, ⚠ model read], so ADVANCE means further risk work, not a large immediate position.
What would change Layer 2’s mind. DROP if KOVAI's operating margin stays below 24% while debtor days rise above 20, or if a new tariff cap directly hits its procedure mix; either would break the stock thesis and confirm the sector falsification of margins rolling down from their peak.
Layer 3 read, 22 August 2026 — DEPLOY. Deploy small: clean management and cash funding offset labor pressure, but the valuation is already full. The risk sweep aligned with Timeline R3 only as a low regulatory exposure, while labor moved to MEDIUM because employee costs rose faster than income. Management still passes: promoter pledge is 0.00% and three-year operating cash was 1.64 times reported profit. The model-based normalized P/E rises to 28.1x, so the stock is not treated as cheap [C020, ⚠ model].
What would change Layer 3’s mind. A company-specific price cap or two consecutive quarters with operating margin below 24%, especially alongside debtor days above 20, would flip DEPLOY to DROP.
CIO read, 22 August 2026 — BENCH. NOT ADMITTED (incoming, benched) · forward-asymmetry 44/100 · CLEAR_NO_CONTEST.
The test written in advance. A sustained deterioration in quarterly operating profit margin below 24% combined with debtor days expanding beyond 20 days or negative free cash flow for three consecutive quarters without planned capacity commissioning. — the thesis as written as stated by the next result.
The test written in advance. Re-Rated Multiple and Peak Margin Valuation Risk — Re-Rated Multiple and Peak Margin Valuation Risk Quarterly operating profit margin declining below 26.0% or PAT growth dropping below 10% YoY. by the next result.
The test written in advance. Single-Cluster Geographic Concentration — Single-Cluster Geographic Concentration A sequential drop in quarterly revenue or footfalls persisting across two consecutive quarters. by the next result.
What the company does. Revenue expanded from 690 Cr in FY21 to 1,586 Cr in FY26 while operating margins remained stable between 27% and 30% across 12 consecutive quarters. Self-funded capital expenditure of 1,004 Cr over 5 years backed by 1,041 Cr cumulative 3-year operating cash flow while reducing borrowings from 550 Cr in FY22 to 403 Cr in FY26. Trailing PE of 25.8x sits at the 71st percentile of 10-year history, leaving minimal margin of safety if inpatient volumes decelerate below 12% YoY.
| Dial | Now | Was | Why it matters | Watch line |
|---|---|---|---|---|
| Tertiary Care Demand Density in Western… | in play | — | Regional dominance in Coimbatore drives inpatient volumes and surgical procedure mix across multi-specialty departments. | New corporate hospital chains construct competing tertiary facilities in Coimbatore and dilute local patient market share. |
| Operating Leverage from Medical College… | in play | — | Fixed medical infrastructure and teaching hospital assets convert incremental volume to profit at 27% to 29% operating margins. | Clinical staff attrition or sharp medical supply cost inflation elevates fixed operating expenditure. |
| Self-Funding Expansion Cash Profile | in play | — | 3-year cumulative operating cash flow of 1,041 Cr fully funds ongoing brownfield projects and allows debt reduction. | Major greenfield expansion outlays exceed operating cash generation and trigger renewed leverage. |
| Minimal Working Capital and Cash… | in play | — | Debtor collection periods of 5 to 9 days keep the cash conversion cycle at 6 days, preventing capital lock-up. | Institutional or government scheme billing rises to a substantial portion of revenue with delayed reimbursement cycles. |
🚨 What the surface reading misses. The surface reading is: Q1 FY27 revenue reached 431 Cr with net profit of 69 Cr, reflecting continued quarterly scale. The research reads it further: Revenue expanded 15.2% YoY and operating margin reached 29%, showing fixed-bed operational leverage with no margin erosion despite higher depreciation (32 Cr).
🚨 What the surface reading misses. The surface reading is: Full-year FY26 delivered 1,586 Cr top-line and 244 Cr PAT, sustaining long-term double-digit expansion. The research reads it further: Operating profit of 445 Cr maintained a stable 28% OPM, translating top-line growth of 15.7% into 16.7% PAT growth without requiring margin spikes.
Lever 2 · Value-added mix — BUILDING. Regional dominance in Coimbatore drives inpatient volumes and surgical procedure mix across multi-specialty departments. What proves it keeps working: Tertiary Care Demand Density in Western Tamil Nadu. It stops working if New corporate hospital chains construct competing tertiary facilities in Coimbatore and dilute local patient market share.
Lever 1 · Operating leverage — BUILDING. Fixed medical infrastructure and teaching hospital assets convert incremental volume to profit at 27% to 29% operating margins. What proves it keeps working: Operating Leverage from Medical College and Bed Additions. It stops working if Clinical staff attrition or sharp medical supply cost inflation elevates fixed operating expenditure.
Lever 4 · Paying down debt — BUILDING. 3-year cumulative operating cash flow of 1,041 Cr fully funds ongoing brownfield projects and allows debt reduction. What proves it keeps working: Self-Funding Expansion Cash Profile. It stops working if Major greenfield expansion outlays exceed operating cash generation and trigger renewed leverage.
Sources: our stock research file (22 August 2026) · quarterly results through Jun 26. The story check is re-scored every results season; the record below never changes.
Revenue Revenue is the top line: everything the company billed its customers in the period.
Kovai Medical Center & Hospital Ltd reported ₹431 Cr of revenue in the Jun 26 quarter, +15.2% year on year. That is the 12th straight quarter of year-on-year growth. Over 10 years it has compounded at 13.1% a year. The last full year, FY26, came in at ₹1,586 Cr. The last four reported quarters add to ₹1,644 Cr.
Why this happened. Kovai Medical Center functions as the primary referral hub for tertiary healthcare in Coimbatore, Erode, and Tirupur districts. Inpatient volume expansion and specialty complexity supported revenue growth from 344 Cr in Q2 FY25 to 431 Cr in Q1 FY27.
FY26 revenue came in at ₹1,586 Cr (+15.7% on the year), capping 10 years at 13.1% compound. The latest quarter (Jun 26) printed ₹431 Cr, +15.2% year on year — the 12th consecutive quarter of year-over-year growth.
Pace check: the last four quarters averaged +14.9% growth against the decade's 13.1% — the current year is running faster than its own long-run rate.
Acceleration check: trailing-twelve-month revenue grew +15.0% over the last 4 quarters against +14.2%/yr over the last 8 — stabilising; TTM profit +15.8% vs +14.9%/yr — stabilising.
FY26-Q4. revenue ₹414 Cr and profit ₹63 Cr as reported.
FY27-Q1. revenue ₹431 Cr and profit ₹69 Cr as reported.
Why-sources: our stock research file (22 August 2026) and the company’s own results for those quarters.
Operating margin Operating margin is what is left of every ₹100 of sales after running the business, before interest and tax. It is the cleanest read on pricing power and cost control.
Kovai Medical Center & Hospital Ltd's operating margin is 29.0% in the Jun 26 quarter, +1.0 percentage points against the same quarter a year ago. Across 13 fiscal years the operating margin has ranged 20.0% to 29.0%. The current quarter sits inside that band.
The latest quarter's operating margin is 29.0%, +1.0 pp against the same quarter a year ago. Across 13 fiscal years the operating margin has ranged 20.0%–29.0%.
Why the margin moved: operating margin went +0.4 pp year on year while gross margin went −0.7 pp — the gain came mostly from the gross line: input costs and pricing.
FY26-Q4. revenue ₹414 Cr and profit ₹63 Cr as reported.
FY27-Q1. revenue ₹431 Cr and profit ₹69 Cr as reported.
Why-sources: our stock research file (22 August 2026) and the company’s own results for those quarters.
Net profit Net profit is what survives every cost, interest and tax — the number EPS, dividends and book value all grow from.
Kovai Medical Center & Hospital Ltd earned ₹69.0 Cr of net profit in the Jun 26 quarter, +21.1% year on year. It is the 12th consecutive quarter of growth. Full-year FY26 profit was ₹244 Cr. The 10-year compound rate is 19.8%. That is 16.0% of the quarter's revenue. The same quarter a year earlier earned ₹57.0 Cr.
Jun 26 profit was ₹69.0 Cr, +21.1% year on year — the 12th consecutive quarter of growth. On the full year, FY26 printed ₹244 Cr (+16.7%), and the 10-year compound rate is 19.8%.
Why profit moved: revenue contributed +15.2% and the margin +1.0 pp — the quarter was revenue-led, with the margin roughly flat.
Pace comparison, last four quarters: profit +15.8% vs revenue +14.9%. Profit and revenue are moving roughly in step.
FY26-Q4. revenue ₹414 Cr and profit ₹63 Cr as reported.
FY27-Q1. revenue ₹431 Cr and profit ₹69 Cr as reported.
Why-sources: our stock research file (22 August 2026) and the company’s own results for those quarters.
Cash flow — the router The P&L says what was earned; the cash-flow statement says what actually arrived. Operating cash flow (CFO) against profit is the cleanest lie detector in the accounts.
Over the last 3 fiscal years 164% of Kovai Medical Center & Hospital Ltd's reported profit arrived as operating cash — the cash follows the profit. In FY26 that was ₹362 Cr of operating cash against ₹244 Cr of profit. After ₹281 Cr of capital spending, ₹81.0 Cr was left as free cash.
Why this happened. Direct cash and insurance-counter settlement models limit trade receivables. Debtor days stood at 9 days in FY26, supporting a working capital cycle of -58 days when factoring payables and customer advances.
FY26: operating cash of ₹362 Cr against reported profit of ₹244 Cr, leaving free cash of ₹81.0 Cr after ₹281 Cr of capital spending. Across the last 3 fiscal years the conversion rate is 164% of profit.
Cash-flow readings here are annual — that is the resolution our series carries, so this section moves once a year.
Why conversion sits at 164%: the cash cycle held roughly steady between FY21 and FY26 — so conversion tracks profitability rather than the cycle.
Router verdict: the bigger cash user is investment — capital spending ran 2.7× depreciation over three years, so the next section's job is to check what that build-out is buying.
Where the cash goes Working capital is the cash tied up between paying suppliers and getting paid: debtor days (customers owe), inventory days (stock waits), and the cash conversion cycle (the whole loop, in days of sales).
Kovai Medical Center & Hospital Ltd's cash conversion cycle runs 6 days in FY26, up from −2 days in FY21. Capital spending ran ₹797 Cr over the last 3 years. At FY26 sales of ₹1,586 Cr each day of that cycle holds about ₹4.3 Cr, so roughly ₹26.0 Cr sits inside the business at any moment.
FY26: debtors at 9 days, inventory at 17 days — roughly 0.6 months of stock waiting to sell; that is where the cash sits while it waits — for a full cycle of 6 days, looser than FY21's −2.
The full loop: cash goes out to suppliers and production on day 0; stock waits 17 days to sell; customers pay about 9 days after that; and suppliers themselves are paid at 20 days — netting out to the 6-day cycle.
In money terms: at FY26 sales of ₹1,586 Cr, each day of the cycle holds about ₹4.3 Cr — so the 6-day loop keeps roughly ₹26.0 Cr sitting inside the business at any moment.
On the investment side: capital spending of ₹797 Cr over the last 3 fiscal years against ₹299 Cr of depreciation — the company is building well ahead of wear-and-tear. Capital work-in-progress stands at ₹135 Cr (FY26) — capacity paid for but not yet earning.
The synthesis: the cash is going into capacity, not disappearing into the cycle — the question becomes whether the new capacity earns.
Return on capital Return on capital employed (ROCE) is the profit the whole business earns on all the money in it — equity and debt together. It is the single best test of whether growth creates value or just size.
Kovai Medical Center & Hospital Ltd earns a ROCE of 23% in FY26. That is up from a trough of 13% in FY21. Return on invested capital clears the cost of that capital by +6.9 percentage points, so growth here adds value rather than only size. The wiring behind it is 15.4% net margin on 0.77× asset turns.
FY26 ROCE is 23%, recovered from a FY21 trough of 13% — the full ladder below shows the fall and the climb, undoctored.
Why the return is what it is — the wiring (FY26): 15.4% net margin × 0.77× asset turns × 1.57× balance-sheet leverage ≈ 18.6% on equity. Margin is doing the heavy lifting; leverage is modest — this is an earned return, not a borrowed one.
The capstone test — ROIC − WACC: 18.9% − 12.0% = a +6.9 pp spread. The 12.0% is a standing assumption for the cost of capital in India, not a per-stock estimate — read the sign and the size of the spread, not the decimals. A spread this wide means every rupee reinvested creates more than a rupee of value — the engine compounds.
Debt Debt-to-equity says how much of the business is funded by borrowings. Low is the safe corner; the trend matters as much as the level.
Kovai Medical Center & Hospital Ltd carries total debt of ₹403 Cr against shareholder equity of ₹1,319 Cr as of Mar 26, a debt-to-equity of 0.31. On the annual view that ratio went from 0.90 in FY22 to 0.31 in FY26. Read the returns elsewhere on this page with that leverage in mind.
Why this happened. Under the capex inflection point framework, previous capital outlays for hospital beds and the KMCH Institute of Health Sciences are maturing into stable earning assets. Operating profit expanded from 96 Cr in Q2 FY25 to 124 Cr in Q1 FY27.
Mar 26: total debt of ₹403 Cr against shareholder equity of ₹1,319 Cr — a debt-to-equity of 0.31. On the annual view, debt-to-equity went from 0.90 (FY22) to 0.31 (FY26). Read the returns on this page with that leverage in mind.
Ownership Who owns the stock, quarter by quarter: promoters (the controlling owners), foreign and domestic institutions, and the public. Steady accumulation by people close to the numbers is a signal; a quiet register is also an answer.
No holder of Kovai Medical Center & Hospital Ltd moved a full percentage point over the last two years — the register is quiet. Promoters moved +0.0 points over the same window, to 56.5%. The register is read on the four disclosed classes only; nothing is inferred between filings.
The register over the last two years — Foreign institutions: +0.9 points over 8 quarters to 1.3%; Promoters: +0.0 points over 8 quarters to 56.5%; Domestic institutions: +0.0 points over 8 quarters to 4.2%.
Safety line The Z-score estimates how far a company sits from balance-sheet distress — above roughly 3 is safe, below roughly 1.8 is the danger zone. It was built for manufacturers, so it is not applied to banks and lenders.
Kovai Medical Center & Hospital Ltd: the Z-score is not available for this stock, so we say so rather than invent one. It is a distance-to-distress estimate from the balance sheet, not a forecast of failure. The debt, cash-flow and return sections above carry the balance-sheet evidence this page does hold, and each of them states its own reporting date.
The safety line in one sentence: the Z-score is not available for this stock, so we say so rather than invent one.
Valuation P/E is the price of ₹1 of annual profit: how many rupees the market pays for each rupee the company earns in a year.
Kovai Medical Center & Hospital Ltd trades at 26.5× P/E, at the pricey end of its own range (79th percentile). Its long-run median P/E is 19.7×, measured across 10.5 years of weekly readings. This places the multiple against the stock’s own record, and says nothing about what the business is worth.
Today's P/E of 26.5× is at the pricey end of its own range (79th percentile), against a long-run median of 19.7× measured over 10.5 years of weekly readings. This is a comparison against the stock's own history — not a claim about what it is worth.
Why the multiple sits where it does: over the past year annual EPS moved +17.0% against a −1.8% price move — earnings outran the price, pushing the multiple DOWN its own range.
The price move, decomposed: over 5y, of the +28.9%/yr price move, ~+18.1%/yr came from earnings growth and ~+10.8 pp from the multiple (expanding); over 10y, of the +22.6%/yr price move, ~+19.1%/yr came from earnings growth and ~+3.5 pp from the multiple (expanding). The split is the honest approximate (price return minus earnings growth); it makes the rally itself visible instead of hiding it behind the percentile.
Put together: the multiple is full against its own past, so the story rests on the earnings line underneath it, not the multiple.
What the price assumes This reading works the multiple backwards. It asks one question: what yearly rate of profit growth is a buyer at the market price already paying for? The number is the growth rate that makes eleven years of profit — six years growing, then five fading — add up to that day's market price, once each year is discounted at 11% a year.
Solved at its 27 August 2026 price, Kovai Medical Center & Hospital Ltd was paying for profit growth of about 14.8% a year. Profit itself has compounded 19.8% a year over the past 10 years. Today the market pays 26.5× P/E, the 79th percentile of its own 11-year range.
What the two numbers say together. The multiple is full against its own past, and the growth the price is paying for is close to what this company has actually delivered.
How to hold this number: it is a reading of one day's price, taken on 27 August 2026, not a running figure — every other number on this page, the multiple included, is read off the live quote as of 11 September 2026. A higher price is paying for more growth and a lower price for less, so it moves whenever the price does, and this page does not restate it between measurements.
Stage: Consistent Every business sits somewhere on a fundamental arc, and this page names the spot before anything else. The last twelve quarters of revenue, profit and EPS growth — plus the return the business earns on its capital — are read as curves: Deteriorating (the curves are falling), Turning around (a trough has just formed and the last few quarters lift off it), Improving (the climb off the trough is sustained), Consistent (steadily positive with healthy returns), Topping out (still high but decelerating from the peak). When the curves genuinely disagree the read is Mixed; too little history is No read. CAGR (compound annual growth rate) is the smooth yearly pace that turns the starting value into the latest one — the fairest way to compare growth across different time spans. Read the columns together: if the 1-year number towers over the 10-year, recent growth is running hotter than the long-run trend. A dash means that window is not held, or the base year was a loss (where a growth rate is not meaningful).
Kovai Medical Center & Hospital Ltd reads as consistent on its fundamental arc. Consistent — revenue, profit and EPS growth have stayed positive through the window, with ROCE at 21.8% and holding. The read is built from 12 quarters across 4 curves, on full evidence.
Why it matters: steady curves with healthy returns are the compounding setup — the risk is the price, not the business.
| 1yr | 3yr | 5yr | 10yr | |
|---|---|---|---|---|
| Revenue | +15.7% | +15.9% | +18.1% | +13.1% |
| Profit | +16.7% | +28.1% | +25.6% | +19.8% |
| EPS | +17.0% | +28.3% | +25.8% | +19.7% |
| Share price | −1.8% | +30.4% | +28.9% | +22.6% |
4-Factor Sector Score
57.7/100 — rank 6 of 19 in Hospitals · 100% evidence confidence
Kovai Medical Center & Hospital Ltd scores 57.7 out of 100 against the 19 companies it is compared with in Hospitals, ranking 6. Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
The four contributions add to the total exactly: 19.7 + 18.6 + 9.9 + 9.5 = 57.7. This is the SAME number shown on the sector comparison — it is computed once, for the whole peer set, and read here.
What would change it: The read weakens if profit growth turns negative or margin improvement reverses while sector-relative strength deteriorates.
| Company | Score | Price stage | Growth & earnings/35 | Capital efficiency/25 | Valuation/20 | Relative strength/20 |
|---|---|---|---|---|---|---|
| 1KMC Speciality Hospitals (India) Ltd524520 | 78.8/100Favorable setup82% evidence | LEADER | 32.5/35 Revenue 35.1% · PAT 100% · OPM change 6 pp 95% evidence | 20.6/25 ROCE 26.2% · OPM 31% 76% evidence | 11.2/20 P/E 40.5× · PEG — 50% evidence | 14.5/20 RS sector 31.1% · RS bench 48% · 1Y 103.9%12 of 12 weeks ahead 100% evidence |
| Exact sum: 32.5 + 20.6 + 11.2 + 14.5 = 78.8 · Decision use: Confirmed research leader: earnings, capital efficiency and relative strength agree. Move to management, catalyst and risk diligence. | ||||||
| 2Artemis Medicare Services LtdARTEMISMED | 72.8/100Favorable setup100% evidence | LEADER | 26.7/35 Revenue 15% · PAT 29.9% · OPM change 4 pp 100% evidence | 13.3/25 ROCE 14.6% · OPM 20% 100% evidence | 13.8/20 P/E 47.1× · PEG 1.09 100% evidence | 19.0/20 RS sector 17.3% · RS bench 33.5% · 1Y 51.6%12 of 12 weeks ahead 100% evidence |
| Exact sum: 26.7 + 13.3 + 13.8 + 19 = 72.8 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 3Sakar Healthcare LtdSAKAR | 68.6/100Favorable setup87% evidence | LEADER | 31.9/35 Revenue 43.9% · PAT 71.4% · OPM change 5 pp 95% evidence | 10.8/25 ROCE 12.4% · OPM 29% 95% evidence | 6.5/20 P/E 71.4× · PEG — 50% evidence | 19.4/20 RS sector 77.4% · RS bench 98.9% · 1Y 248.6%12 of 12 weeks ahead 100% evidence |
| Exact sum: 31.9 + 10.8 + 6.5 + 19.4 = 68.6 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 4Apollo Hospitals Enterprise LtdAPOLLOHOSP | 62.9/100Mixed-positive evidence82% evidence | LEADER | 23.8/35 Revenue 17.2% · PAT 33.2% · OPM change 1 pp 95% evidence | 14.8/25 ROCE 17.4% · OPM 16% 76% evidence | 12.8/20 P/E 60.4× · PEG — 50% evidence | 11.5/20 RS sector -0.4% · RS bench 13.5% · 1Y 13.2%8 of 12 weeks ahead 100% evidence |
| Exact sum: 23.8 + 14.8 + 12.8 + 11.5 = 62.9 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 5Dr Agarwals Eye Hospital LtdDRAGARWQ | 61.4/100Mixed-positive evidence94% evidence | BREAKING OUT | 22.2/35 Revenue 20.1% · PAT 31.6% · OPM change -2 pp 100% evidence | 17.9/25 ROCE 17.4% · OPM 30% 100% evidence | 11.9/20 P/E 33.6× · PEG 1.41 100% evidence | 9.4/20 RS sector -4% · RS bench 6.3% · 1Y 17.9%2 of 9 weeks ahead 70% evidence |
| Exact sum: 22.2 + 17.9 + 11.9 + 9.4 = 61.4 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 6Kovai Medical Center & Hospital Ltdthis pageKOVAI | 57.7/100Mixed-positive evidence100% evidence | BREAKING OUT | 19.7/35 Revenue 15% · PAT 15.8% · OPM change 1 pp 100% evidence | 18.6/25 ROCE 22.6% · OPM 29% 100% evidence | 9.9/20 P/E 26.5× · PEG 1.7 100% evidence | 9.5/20 RS sector -4.9% · RS bench 8.6% · 1Y 0.9%9 of 12 weeks ahead 100% evidence |
| Exact sum: 19.7 + 18.6 + 9.9 + 9.5 = 57.7 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 7Rainbow Childrens Medicare LtdRAINBOW | 55.5/100Mixed-positive evidence100% evidence | LEADER | 18.3/35 Revenue 18.3% · PAT 12.4% · OPM change 0 pp 100% evidence | 17.6/25 ROCE 17.4% · OPM 29% 100% evidence | 8.2/20 P/E 51.2× · PEG 2.97 100% evidence | 11.4/20 RS sector -3.5% · RS bench 10% · 1Y -4.3%10 of 12 weeks ahead 100% evidence |
| Exact sum: 18.3 + 17.6 + 8.2 + 11.4 = 55.5 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 8Global Health LtdMEDANTA | 55.4/100Mixed-positive evidence100% evidence | LEADER | 11.8/35 Revenue 21.3% · PAT 3.4% · OPM change -2 pp 100% evidence | 15.2/25 ROCE 17.4% · OPM 22% 100% evidence | 10.9/20 P/E 68× · PEG 1.11 100% evidence | 17.5/20 RS sector 4.5% · RS bench 18.9% · 1Y 2.8%12 of 12 weeks ahead 100% evidence |
| Exact sum: 11.8 + 15.2 + 10.9 + 17.5 = 55.4 · Decision use: Price leads the evidence: RS versus the benchmark is 18.9%, but earnings trajectory is weak. Wait for revenue and profit confirmation. | ||||||
| 9Yatharth Hospital & Trauma Care Services LtdYATHARTH | 54.9/100Mixed-positive evidence82% evidence | TURNING | 18.0/35 Revenue 43.9% · PAT 22.5% · OPM change -2 pp 95% evidence | 11.9/25 ROCE 12.4% · OPM 23% 76% evidence | 7.7/20 P/E 51.4× · PEG — 50% evidence | 17.3/20 RS sector 12.3% · RS bench 27.6% · 1Y 23.7%8 of 12 weeks ahead 100% evidence |
| Exact sum: 18 + 11.9 + 7.7 + 17.3 = 54.9 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 10Indraprastha Medical Corporation LtdINDRAMEDCO | 52.6/100Mixed-positive evidence94% evidence | ASLEEP | 12.7/35 Revenue 10.9% · PAT 12.6% · OPM change 0 pp 100% evidence | 18.5/25 ROCE 35.8% · OPM 20% 100% evidence | 16.9/20 P/E 17.3× · PEG 0.92 100% evidence | 4.5/20 RS sector -8.4% · RS bench -15.5% · 1Y -26.4%0 of 10 weeks ahead 70% evidence |
| Exact sum: 12.7 + 18.5 + 16.9 + 4.5 = 52.6 · Decision use: Cheap but unconfirmed: require improving earnings before treating the valuation as an opportunity. | ||||||
| 11GPT Healthcare LtdGPTHEALTH | 51.9/100Mixed-positive evidence74% evidence | BREAKING OUT | 14.4/35 Revenue 18% · PAT 0% · OPM change 3 pp 95% evidence | 19.1/25 ROCE 19.9% · OPM 19% 95% evidence | 11.2/20 P/E 27.7× · PEG — 15% evidence | 7.2/20 RS sector -15.8% · RS bench 13.2% · 1Y 3.6%7 of 10 weeks ahead 70% evidence |
| Exact sum: 14.4 + 19.1 + 11.2 + 7.2 = 51.9 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 12Max Healthcare Institute LtdMAXHEALTH | 51.3/100Mixed-positive evidence94% evidence | TURNING | 21.2/35 Revenue 16% · PAT 26.9% · OPM change -1 pp 100% evidence | 14.5/25 ROCE 14.7% · OPM 25% 100% evidence | 9.7/20 P/E 67.5× · PEG 2.35 100% evidence | 5.9/20 RS sector -7.9% · RS bench -0.8% · 1Y -11.3%2 of 10 weeks ahead 70% evidence |
| Exact sum: 21.2 + 14.5 + 9.7 + 5.9 = 51.3 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 13Fortis Healthcare LtdFORTIS | 43.1/100Mixed-negative evidence82% evidence | ASLEEP | 19.6/35 Revenue 17.5% · PAT 18.6% · OPM change -2 pp 95% evidence | 12.6/25 ROCE 13.4% · OPM 21% 76% evidence | 9.2/20 P/E 62.8× · PEG — 50% evidence | 1.7/20 RS sector -15.1% · RS bench -3% · 1Y -6.3%4 of 12 weeks ahead 100% evidence |
| Exact sum: 19.6 + 12.6 + 9.2 + 1.7 = 43.1 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 14Narayana Hrudayalaya LtdNH | 38.3/100Mixed-negative evidence87% evidence | ASLEEP | 11.9/35 Revenue 59.6% · PAT 3.8% · OPM change -5 pp 100% evidence | 11.9/25 ROCE 15.5% · OPM 17% 100% evidence | 6.4/20 P/E 44.3× · PEG 3 65% evidence | 8.1/20 RS sector -4.3% · RS bench 2.8% · 1Y 4.7%4 of 10 weeks ahead 70% evidence |
| Exact sum: 11.9 + 11.9 + 6.4 + 8.1 = 38.3 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 15Healthcare Global Enterprises LtdHCG | 35.5/100Mixed-negative evidence75% evidence | LEADER | 10.7/35 Revenue 13.7% · PAT -21.4% · OPM change 0 pp 95% evidence | 6.5/25 ROCE 8.3% · OPM 18% 76% evidence | 8.5/20 P/E 215× · PEG — 15% evidence | 9.8/20 RS sector -4.4% · RS bench 9.1% · 1Y 1.1%11 of 12 weeks ahead 100% evidence |
| Exact sum: 10.7 + 6.5 + 8.5 + 9.8 = 35.5 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 16Aster DM Quality Care LtdASTERDM | 34.3/100Adverse evidence100% evidence | FADING | 15.7/35 Revenue 15.7% · PAT 3.7% · OPM change 1 pp 100% evidence | 9.0/25 ROCE 11.6% · OPM 20% 100% evidence | 1.2/20 P/E 184× · PEG 3.07 100% evidence | 8.4/20 RS sector -2.6% · RS bench 10.7% · 1Y 19.2%7 of 12 weeks ahead 100% evidence |
| Exact sum: 15.7 + 9 + 1.2 + 8.4 = 34.3 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 17Shalby LtdSHALBY | 32.6/100Adverse evidence74% evidence | ASLEEP | 16.5/35 Revenue 6.3% · PAT 100% · OPM change -1 pp 95% evidence | 2.3/25 ROCE 6.1% · OPM 13% 95% evidence | 10.8/20 P/E 39.8× · PEG — 15% evidence | 3.0/20 RS sector -28.4% · RS bench -18.7% · 1Y -34%1 of 10 weeks ahead 70% evidence |
| Exact sum: 16.5 + 2.3 + 10.8 + 3 = 32.6 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 18Krishna Institute of Medical Sciences LtdKIMS | 31.5/100Adverse evidence82% evidence | ASLEEP | 9.7/35 Revenue 30.9% · PAT -52% · OPM change -3 pp 95% evidence | 9.0/25 ROCE 9.5% · OPM 19% 76% evidence | 5.5/20 P/E 155× · PEG — 50% evidence | 7.3/20 RS sector -4% · RS bench 9.2% · 1Y 3.5%7 of 12 weeks ahead 100% evidence |
| Exact sum: 9.7 + 9 + 5.5 + 7.3 = 31.5 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 19Jupiter Life Line Hospitals LtdJLHL | 30.2/100Adverse evidence100% evidence | BREAKING OUT | 7.1/35 Revenue 14.7% · PAT -3.1% · OPM change -3 pp 100% evidence | 10.6/25 ROCE 14.8% · OPM 19% 100% evidence | 6.6/20 P/E 47.9× · PEG 3.44 100% evidence | 5.9/20 RS sector -11.2% · RS bench 1.3% · 1Y -2.2%11 of 12 weeks ahead 100% evidence |
| Exact sum: 7.1 + 10.6 + 6.6 + 5.9 = 30.2 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
Missing observations are not scored as bad. Their missing weight lowers confidence and pulls the final score toward neutral. 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 curve the sector itself 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 widening or shrinking. It describes where the PRICE stands, not the earnings trajectory and not a recommendation, and it is left blank for a company whose weekly history is too short or too stale to read.
Frequently asked questions
What is Kovai Medical Center & Hospital Ltd's share price today?
Kovai Medical Center & Hospital Ltd trades at ₹6,204, −1.8% over the past year. The company is valued at ₹6,787 Cr. The stock sits at 70% of its 52-week range of ₹5,098–₹6,685, +7.3% versus its 200-day average. On the tape, the price is in a confirmed uptrend, 9 weeks in. — as of 11 September 2026.
What were Kovai Medical Center & Hospital Ltd's latest quarterly results?
Kovai Medical Center & Hospital Ltd reported revenue of ₹431 Cr and net profit of ₹69.0 Cr for the Jun 26 quarter. Revenue rose 15.2% and profit rose 21.1% year on year. Earnings per share were ₹63.14. The operating margin was 29.0%, 1.0 pp higher than a year earlier. — as of 11 September 2026.
What is Kovai Medical Center & Hospital Ltd's revenue?
Kovai Medical Center & Hospital Ltd reported revenue of ₹431 Cr in the Jun 26 quarter, +15.2% year on year. For the full FY26 fiscal year, revenue was ₹1,586 Cr (+15.7%). Over the last 10 years revenue compounded at 13.1% a year. — as of 11 September 2026.
What is Kovai Medical Center & Hospital Ltd's profit?
Kovai Medical Center & Hospital Ltd earned ₹69.0 Cr of net profit in the Jun 26 quarter, +21.1% year on year — the 12th straight quarter of growth. Full-year FY26 profit was ₹244 Cr. The operating margin ran 29.0% in the latest quarter. — as of 11 September 2026.
What is Kovai Medical Center & Hospital Ltd's market cap?
Kovai Medical Center & Hospital Ltd's market capitalisation is ₹6,787 Cr at a share price of ₹6,204. Market cap is the share price multiplied by shares outstanding, so it is restated whenever the price moves. — as of 11 September 2026.
What is Kovai Medical Center & Hospital Ltd's P/E ratio?
Kovai Medical Center & Hospital Ltd trades at a P/E of 26.5×, at the 79th percentile of its own 11-year range, against a long-run median of 19.7×. This is a comparison with the stock's own history, not a value call — as of 11 September 2026.
Does Kovai Medical Center & Hospital Ltd pay a dividend?
Yes — Kovai Medical Center & Hospital Ltd's dividend payout was 7% of profit in FY26, and it recorded a payout in each of its last 13 reported fiscal years. This page holds the payout ratio, not a per-share amount. — as of 11 September 2026.
Is Kovai Medical Center & Hospital Ltd overvalued?
On its own history, Kovai Medical Center & Hospital Ltd looks expensive: its P/E of 26.5× sits at the 79th percentile of its 11-year range (long-run median 19.7×). That is a percentile read against the stock's own past, not a price opinion or a direction call. — as of 11 September 2026.
Is Kovai Medical Center & Hospital Ltd growing?
Yes — Kovai Medical Center & Hospital Ltd is growing: latest-quarter revenue +15.2% year on year, profit +21.1%, and the margin +1.0 pp at 29.0%. The 10-year compound rates are 13.1% (revenue) and 19.8% (profit). The earnings engine currently reads: improving — as of 11 September 2026.
How is Kovai Medical Center & Hospital Ltd performing?
Kovai Medical Center & Hospital Ltd is in a confirmed uptrend, 9 weeks in. Its latest quarter's revenue rose 15.2% and profit rose 21.1% year on year. Against the NIFTY 500 it has been ahead on a trailing-13-week view for 3 weeks. — as of 11 September 2026.
What stage is Kovai Medical Center & Hospital Ltd in?
Consistent — revenue, profit and EPS growth have stayed positive through the window, with ROCE at 21.8% and holding. The read comes from the last 12 quarters of growth (revenue growth +15.0% latest, profit growth +15.8% latest, eps growth +16.3% latest) plus the ROCE curve, classified by deterministic rules — a trajectory read, not a buy or sell call — as of 11 September 2026.
Is Kovai Medical Center & Hospital Ltd in an uptrend?
Yes — the price is in a confirmed uptrend (week 9 of stage 2), trading +7.3% versus its 200-day average and at 70% of its 52-week range. Price stages cycle base → advance → top → decline, and the stage names where this stock sits in that cycle — as of 11 September 2026.
Is Kovai Medical Center & Hospital Ltd beating the market?
On recent form, yes — Kovai Medical Center & Hospital Ltd has been ahead of the NIFTY 500 on a trailing-13-week view for 3 straight weeks, the same metric the week-by-week ribbon on this page draws. Separately, on the cumulative view: over the last 10.5 years the stock moved +848% against the NIFTY 500's +267% — ahead of the index over the full window. — as of 11 September 2026.
Will Kovai Medical Center & Hospital Ltd's share price go up?
This page publishes no price forecast for Kovai Medical Center & Hospital Ltd. What it measures instead: the share price is ₹6,204, the price is in a confirmed uptrend 9 weeks in. Its P/E of 26.5× sits at the 79th percentile of its own 11-year range. — as of 11 September 2026.
Who owns Kovai Medical Center & Hospital Ltd?
Promoters hold 56.5% of Kovai Medical Center & Hospital Ltd, foreign institutions 1.3%, domestic institutions 4.2% and the public 38.0% (latest quarter). No holder moved a full point over the last two years — the register is quiet. — as of 11 September 2026.
Does Kovai Medical Center & Hospital Ltd have too much debt?
It is moderate — Kovai Medical Center & Hospital Ltd's debt-to-equity is 0.31, and operating profit covers the interest bill 12×. FY26 borrowings were ₹403 Cr against equity of ₹1,319 Cr. Read the returns on this page with that leverage in mind — as of 11 September 2026.
What is Kovai Medical Center & Hospital Ltd's capex?
Kovai Medical Center & Hospital Ltd spent ₹797 Cr on capital expenditure over the last 3 fiscal years, a figure derived from the change in fixed assets plus depreciation. In FY26 alone that was ₹281 Cr, with ₹135 Cr in capital work-in-progress — capacity paid for but not yet earning. — as of 11 September 2026.
What is Kovai Medical Center & Hospital Ltd's cash flow?
Kovai Medical Center & Hospital Ltd generated ₹362 Cr of operating cash flow in FY26 and ₹81.0 Cr of free cash flow after ₹281 Cr of capital spending. Reported profit that year was ₹244 Cr, so operating cash ran ahead of profit. Cash-flow resolution for India is annual. — as of 11 September 2026.
Is Kovai Medical Center & Hospital Ltd's profit real cash?
Yes — over the last 3 fiscal years, 164% of Kovai Medical Center & Hospital Ltd's reported profit arrived as operating cash. In FY26, operating cash was ₹362 Cr against reported profit of ₹244 Cr. The cash then goes mostly into building capacity. Cash-flow resolution is annual — as of 11 September 2026.
Where is Kovai Medical Center & Hospital Ltd in its business cycle?
Kovai Medical Center & Hospital Ltd's FY26 operating margin was 28.0%, against a 13-year band of 20.0%–29.0%: mid-band by its own history — neither the peak that precedes mean-reversion nor the trough that precedes recovery. The latest quarter ran 29.0%. Profitability versus a company's own long band is the cleanest cycle clock this page holds — as of 11 September 2026.
What growth does Kovai Medical Center & Hospital Ltd's price assume?
At its price on 27 August 2026, Kovai Medical Center & Hospital Ltd was priced for profit growth of about 14.8% a year. Profit itself has compounded 19.8% a year over the past 10 years. The figure reads the multiple backwards: the growth a buyer at that price was already paying for. — as of 11 September 2026.
What could break the Kovai Medical Center & Hospital Ltd story?
Biggest watch item: the P/E sits at the 79th percentile of its own range — the multiple has already done part of the work. Mechanically, two Friday closes in a row below the 200-day average would end the price trend — that is the exit rule this page tracks — as of 11 September 2026.
Is Kovai Medical Center & Hospital Ltd a stock worth studying right now?
This is not investment advice. The machine read: Kovai Medical Center & Hospital Ltd's earnings have outrun its stock. EPS grew +17.0% in a year against a −1.8% price move. The sharpest open question: the next one or two quarters of delivery. Every number on this page is drawn deterministically from the raw series, with no forecasts and no price opinions — as of 11 September 2026.
Not SEBI Registered !! Not Investment advice !!