Metropolis Healthcare share price today

Metropolis Healthcare Ltd's share price was ₹581.25 at the close on 4 November 2026. It has been rising for 23 weeks. That is 9.2% above its average price over the last 200 trading days. In the last 52 weeks it traded between ₹422 and ₹597, and at that close it sat 91% of the way up from that low.

A share price tends to move through four phases: moving sideways (stage 1), rising (stage 2), stalling near a high (stage 3) and falling (stage 4). Today Metropolis Healthcare Ltd is in stage 2. The phase helps read everything below.

Over the past 13 weeks it has done better than the NIFTY 500, and it has stayed ahead for 2 weeks in a row.

Over the last 7.5 years the share price moved +140% while the NIFTY 500 moved +126%, 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.

Three changes stood out: revenue up on a year earlier for 11 quarters in a row (every quarter we can compare), highest quarterly profit in 15 quarters and promoters cut their stake by 1 points in one quarter.

1. Revenue up on a year earlier for 11 quarters in a row (every quarter we can compare)

   In the June 2026 quarter revenue was ₹450 crore, +16.6% on a year earlier.

   Why: Revenue rose because both new and older centers brought in more work.

   Next results: check whether adding centers without new labs keeps bringing in more work.

   From the earnings call on 5 Aug 2026.

2. Highest quarterly profit in 15 quarters

   Profit of ₹57 crore in the June 2026 quarter is the highest of the last 15 quarters.

   From the earnings call on 5 Aug 2026.

3. Promoters cut their stake by 1 points in one quarter

   From 48.9% to 47.8% in the September 2026 quarter.

For April to June 2026 (the quarter ended 30 June 2026), Metropolis Healthcare reported revenue of ₹450 crore, up 16.6% from ₹386 crore a year earlier, and a profit of ₹57.0 crore, up 26.7% from ₹45.0 crore.

Metropolis Healthcare results: April to June 2026 against a year earlier

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).

Metropolis Healthcare's management discussed these results on a call held on 5 August 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.

Metropolis Healthcare closed at ₹581.25 on 4 November 2026, up 18.4% from ₹490.98 a year earlier (7 November 2025) and down 23.7% over five years. Its highest weekly close since April 2019 was ₹860.23 on 31 December 2021.

Metropolis Healthcare share price: then and now

Weekly closing prices, adjusted for splits and bonuses so every price is on today’s share count. Each change is the move from that price to the 4 Nov 2026 close. A day's intraday high or low can go beyond these weekly closes.

402 weekly closes from 18 April 2019 to 4 November 2026.

9 Nov 2026: Coming up: ex-date for an interim dividend of ₹1 a share. 4 Nov 2026: Metropolis Healthcare closed at ₹581.25, up 6.5% on the week and up 8.1% on the month.

Earlier

• 5 Aug 2026: Metropolis Healthcare held its results call for April to June 2026. Management guided: FY27 revenue growth 14-16% in prepared remarks.
• Results for April to June 2026: Revenue up 16.6% and profit up 26.7% on a year earlier.
• Our read, 31 May 2026: FY26 organic revenue +13.7% (beat guidance of 12-13%), organic operating margin 25.9% (+140 basis points), profit ₹191 crore (+31% on a year earlier), Q4 profit ₹51 crore (+75% on a year earlier) —.,Core Diagnostics turned operating profit-positive (high single-digit in Q4 from -2% at acquisition), eliminating the margin drag; group operating margin goal 27-28% set for FY27-29 —.,Management credibility undermined by three documented goal changes on Core Diagnostics margin, center-to-lab ratio, and M&A moratorium in the past four concalls —.
• 19 May 2026: ex-date for an interim dividend of ₹1 a share.
• 20 Mar 2026: Bonus issue: 3 new shares for every 1 held (ex-date).
• 11 Nov 2025: ex-date for an interim dividend of ₹4 a share.

Our read of the business

FY26 organic revenue +13.7% (beat guidance of 12-13%), organic operating margin 25.9% (+140 basis points), profit ₹191 crore (+31% on a year earlier), Q4 profit ₹51 crore (+75% on a year earlier) —.,Core Diagnostics turned operating profit-positive (high single-digit in Q4 from -2% at acquisition), eliminating the margin drag; group operating margin goal 27-28% set for FY27-29 —.,Management credibility undermined by three documented goal changes on Core Diagnostics margin, center-to-lab ratio, and M&A moratorium in the past four concalls —.

January to March 2026: FY26 execution confirmed; 3-year roadmap published with quantified goals.

Our read after the January to March 2026 results, written 31 May 2026. The April to June 2026 results are out since, so this part may be out of date until we update it.

Metropolis Healthcare paid ₹2 a share in regular dividends in the 12 months to 5 November 2026 (2 payments), a yield of 0.34% at the ₹581.25 close on 4 November 2026. The last was an interim dividend of ₹1 a share, ex-date 19 May 2026. Next: ₹1 a share, ex-date 9 November 2026.

Metropolis Healthcare dividends since 1 April 2021

Amounts as the company declared them on the NSE. A dividend goes to whoever owns the shares before the ex-date. 1 of the last 12 months' payments came before a split or bonus; the 12-month total above is on today’s share count.

Yes. Metropolis Healthcare Ltd paid out 55% of its profit as dividends in FY26, and it paid a dividend in 10 of its last 13 reported years.

From the NSE corporate-actions record, read 5 November 2026.

On the call for April to June 2026, held on 5 August 2026, Metropolis Healthcare's management guided: FY27 revenue growth 14-16% in prepared remarks.

“We believe this is a good start to our year and that we can sustain a revenue growth outlook of 14-16% for the year, which we expect to be primarily driven by volume growth.”Ameera Shah, on the call for April to June 2026

What management guided

• FY27 operating margin expansion 100-150 basis points in prepared remarks.
• Consolidated operating margin planned at 27-28% over this and next year; Core margin around 25% within 3-4 years of acquisition.
• FY27 network: approximately 400-500 Tier 2 and Tier 3 openings in prepared remarks.
• Specialty portfolio contribution planned at 45% from 40% currently.

Management’s own plans and goals, from our notes of the call. A plan is not a result.

Source: the call transcript.

From the call for April to June 2026, 5 August 2026.

What is changing at Metropolis Healthcare, from the latest results and calls: operating leverage on fixed lab base, specialty and true health mix shift and core diagnostics integration, margin drag to contributor.

• Operating Leverage on Fixed Lab Base. 212 labs absorbing 14-15% volume growth without proportional cost additions; lab productivity +14% FY26; FY27 no new labs guided. ⚠ estimate
• Specialty and True Health Mix Shift. Specialty at 37% organic FY26 (+16% on a year earlier), aiming for 40% FY27; True Health 19% organic (+21% on a year earlier), aiming for 25%+ in 2-3 years, both improve RPP and gross margins. ⚠ estimate
• Core Diagnostics Integration, Margin Drag to Contributor. Core Diagnostics operating profit moved from -2% at acquisition to high single-digit January to March 2026; 20%+ goal by FY28-end removes acquired revenue from margin drag. ⚠ estimate

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 January to March 2026 results, written 31 May 2026. The April to June 2026 results are out since, so this part may be out of date until we update it.

GST and labor code represent two policy levers that affect margins; labor code recurring impact ₹5-6 Cr annually already absorbed.

The main risks

• : GST and labor code represent two policy levers that affect margins; labor code recurring impact ₹5-6 Cr annually already absorbed. ✓ fact

Our read after the January to March 2026 results, written 31 May 2026. The April to June 2026 results are out since, so this part may be out of date until we update it.

When Metropolis Healthcare reports July to September 2026, these are the 4 checks that show whether the story is still on course. First: Q2 volume growth to remain broad-based beyond seasonal strength; check mature-center productivity against new-center ramp.

Metropolis Healthcare is not on any of our India lists this week.

Metropolis Healthcare Ltd earned ₹57.0 Cr of net profit in the Jun 2026 quarter, +26.7% on the same quarter a year earlier. That is the 5th quarter in a row of profit growth. Full-year FY26 profit was ₹191 Cr. Over 10 years profit has grown 8.8% a year on average. That is 12.7% of the quarter's revenue.

Net profit is what is left after every cost, interest and tax. Earnings per share, dividends and book value all grow from it.

The same quarter a year earlier earned ₹45.0 Cr.

For the full year, FY26 profit was ₹191 Cr (+30.8% on the year before).

Why profit moved: revenue changed +16.6% on a year earlier and the margin moved +2.0 percentage points. Most of the change came from keeping more of each sale.

On average over the last four quarters, profit changed +37.7% and revenue +22.0%. Profit is growing faster than sales: fixed costs are spread over more sales, so each extra rupee of revenue adds more to profit.

Metropolis Healthcare Ltd reported ₹450 Cr of revenue in the Jun 2026 quarter, +16.6% 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 13.2% a year on average. The last full year, FY26, came in at ₹1,646 Cr.

Revenue is everything the company billed its customers in the period.

The last four reported quarters add to ₹1,710 Cr.

FY26 revenue was ₹1,646 Cr, +23.7% on the year before.

Recent pace: the last four quarters grew +22.0% on average, against 13.2% 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 +21.8%, against +17.3% a year over the last 8 quarters (accelerating); profit over the last 12 months grew +33.6%, against +21.3% a year (accelerating).

Metropolis Healthcare Ltd's operating margin was 25.0% in the Jun 2026 quarter, 2.0 percentage points higher than the same quarter a year ago. Across 13 years it has been between 23.0% and 29.0%. The latest quarter is within that range.

Operating margin is what is left from every ₹100 of sales after the costs of running the business, before interest and tax. It shows pricing power and cost control.

Why this happened. Metropolis shifted from expansion-led capex to utilization-led productivity. FY26 saw 14-15% volume growth absorbed by the existing 212-lab network with capex of Rs 65 Cr. Lab productivity improved 14% on the same fixed base. Q4 organic margin 27.2% was driven by this operating leverage. FY27 guidance of 125-150 bps margin improvement assumes continued fixed-cost leverage as volumes grow 8-9% on top of the FY26 base.

Why the margin moved: operating margin changed +1.4 percentage points on the year while gross margin changed +1.1 points. So the gain came mostly from the gross margin, which means input costs and prices charged.

Over the last 3 years, 189% of Metropolis Healthcare Ltd's reported profit came in as cash from its operations, so the profit is backed by cash. In FY26 it brought in ₹351 Cr of operating cash against ₹191 Cr of profit. After ₹288 Cr of spending on assets, ₹63.0 Cr was left over as free cash.

The profit and loss account shows what was earned. The cash-flow statement shows the cash that actually came in. Comparing operating cash flow with profit is one of the best checks that a profit is real.

Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year.

Why 189% of profit came in as cash: the cash cycle stayed about the same between FY21 and FY26, so the cash follows profit, not the cycle.

What to look at next: the bigger use of cash is spending on new assets, at 2.4× depreciation over three years. The next section checks what that spending is building.

Metropolis Healthcare Ltd's cash cycle, the days between paying suppliers and getting paid by customers, was −57 days in FY26, down from −56 days in FY21. It spent ₹797 Cr on assets over the last 3 years. Customers take 38 days to pay, and stock sits for 51 days on average.

Working capital is the cash tied up between paying suppliers and getting paid. Debtor days: how long customers take to pay. Inventory days: how long stock sits. The cash cycle: the whole loop, in days of sales.

At FY26 sales of ₹1,646 Cr, each day of that cycle ties up about ₹4.5 Cr, so roughly −₹257 Cr is tied up in the business at any time.

FY26: customers took 38 days to pay and stock sat for 51 days, about 1.7 months of sales sitting as stock, for a full cycle of −57 days, shorter than FY21's −56.

The full loop: cash goes out to suppliers and production on day 0. Stock sits for 51 days. Customers pay about 38 days after that. Suppliers are paid at 146 days. Together that makes the −57-day cycle.

Spending on assets: ₹797 Cr over the last 3 years, against ₹337 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 ₹0.0 Cr (FY26): assets paid for that are not earning yet.

In short: the cash is going into new capacity, not getting stuck in the daily cycle. The question is whether the new capacity earns.

Metropolis Healthcare Ltd's P/E is 57.9×, in the middle of its own history: higher than 49% of past readings. Its usual P/E (the middle reading) is 58.2×, over 7.5 years of weekly prices. This compares the share price with the company’s own past. It does not say what the business is worth.

P/E is the share price divided by a year's profit per share: how many rupees the market pays for each rupee of yearly profit.

Why this happened. Digital revenue reached 25% of total FY26 revenue via three channels: Metropolis app, website, and a CLM engine for retention. Management differentiates Metropolis digital from pure-play health-tech competitors via the physical brand's lower customer acquisition cost and higher customer lifetime value. The unit economics argument is plausible given the 50+ year brand and 750-town presence, though management has not quantified the CAC differential in any concall.

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 ₹9.73.

Why the multiple is where it is: over the past year earnings per share moved +31.0% while the price moved +18.4%. Earnings did better than the price, which pulled the multiple down within its own range.

Where the price move came from: over 5 years the price moved −5.3% a year; about −3.4% a year came from earnings growth and about −1.9 percentage points from the multiple (the market paying less). 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.

Metropolis Healthcare Ltd's business is giving mixed signals. There is no clear direction across the growth lines, with ROCE rising at 17.9%; each line tells part of the story. This is based on 12 quarters of 4 measures.

Every business is somewhere on a path of getting better or worse, and this section names where. The last 12 quarters of growth in revenue, profit and earnings per share, plus the return the business earns on its capital, are read as lines. Getting worse: the lines are falling. Turning around: a low point has just formed and the last few quarters are rising from it. Getting better: the rise from the low has lasted. Growing steadily: steady growth with healthy returns. Slowing from a peak: still high, but slowing. When the lines disagree the result is mixed; too little history means no reading. CAGR (compound annual growth rate) is the steady yearly rate that would turn the starting value into the latest one. It is the fairest way to compare growth over different periods. If the 1-year figure is much bigger than the 10-year one, recent growth is running faster than the long-run trend. A dash means there is no figure for that period, or the starting year was a loss, where a growth rate means nothing.

Why it matters: when the lines disagree, each line above matters more than any single label.

Compound annual growth rate (%)

Compound annual growth rate over each period, %. Revenue, profit and EPS come from yearly figures; the share price row is price growth over the same periods. A dash means no figure for that period, or the starting year was a loss.

Metropolis Healthcare Ltd's story is not scored yet against the checks our research set on 31 May 2026. Where it sits in its own cycle: Not stated in the research file. Still open: Three documented management consistency failures in four concalls, Core Diagnostics margin goal, center-to-lab ratio timeline, and M&A moratorium, all on core thesis pillars.

NOT YET CHECKED

What is not proven yet. Three documented management consistency failures in four concalls, Core Diagnostics margin goal, center-to-lab ratio timeline, and M&A moratorium, all on core thesis pillars.

What the company does. FY26 organic revenue +13.7% (beat guidance of 12-13%), organic EBITDA margin 25.9% (+140bps), PAT Rs 191 Cr (+31% YoY), Q4 PAT Rs 51 Cr (+75% YoY) —. Core Diagnostics turned EBITDA-positive (high single-digit in Q4 from -2% at acquisition), eliminating the margin drag; group EBITDA margin goal 27-28% set for FY27-29 —. Management credibility undermined by three documented goal changes on Core Diagnostics margin, center-to-lab ratio, and M&A moratorium in the past four concalls —.

The key numbers to watch, and the level that would change the picture

Everything further down this page is evidence for or against these.

• 1 · Operating leveragebuilding
• 2 · Value-added mixbuilding
• 3 · Management changebuilding
• 4 · Paying down debtquiet
• 5 · Regulatory approvalquiet
• 6 · Order-book winsquiet
• 7 · Consolidationquiet
• 8 · Demerger or value unlockbuilding
• 9 · Buybackquiet
• 10 · New geographiesquiet
• 11 · More business from existing customersquiet
• 12 · New product launchquiet
• 13 · Mandatory normsquiet
• 14 · A bigger market to servequiet
• 15 · Market-share gainsquiet
• 16 · Asset qualityquiet

Lever 1 · Operating leverage: building. 212 labs absorbing 14-15% volume growth without proportional cost additions; lab productivity +14% FY26; FY27 no new labs guided. What proves it keeps working: Operating Leverage on Fixed Lab Base. It stops working if Two consecutive quarters of Core Diagnostics missing its stated improvement path, OR organic EBITDA margin declining versus FY26 exit rate.

Lever 2 · Value-added mix: building. Specialty at 37% organic FY26 (+16% YoY), aiming for 40% FY27; True Health 19% organic (+21% YoY), aiming for 25%+ in 2-3 years, both improve RPP and gross margins. What proves it keeps working: Specialty and True Health Mix Shift. It stops working if Two consecutive quarters of Core Diagnostics missing its stated improvement path, OR organic EBITDA margin declining versus FY26 exit rate.

Lever 3 · Management change: building. Core Diagnostics EBITDA moved from -2% at acquisition to high single-digit Q4 FY26; 20%+ goal by FY28-end removes acquired revenue from margin drag. What proves it keeps working: Core Diagnostics Integration, Margin Drag to Contributor. It stops working if Two consecutive quarters of Core Diagnostics missing its stated improvement path, OR organic EBITDA margin declining versus FY26 exit rate.

Lever 8 · Demerger or value unlock: building. Digital at 25% of FY26 revenue; physical brand reduces customer acquisition cost versus health-tech competitors; CLM engine improving retention. What proves it keeps working: Digital Channel Scale, Lower CAC, Higher LTV. It stops working if Two consecutive quarters of Core Diagnostics missing its stated improvement path, OR organic EBITDA margin declining versus FY26 exit rate.

Sources: our stock research file (31 May 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.

The whole page in one table. Each row links to its section.

What Metropolis Healthcare 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.

Pricing History Rewritten · 5 August 2026. In May 2026, management said Metropolis had taken a price increase every year over the prior 2-3 years and that only the current year had been deferred. The August 2026 call instead said the last increase occurred in January 2023, which implies no increases during the intervening period and materially changes the basis for analyzing realization growth.

Center-to-Lab Ratio Reporting Reversed · 5 August 2026. May 2026 reported that the center-to-lab ratio had improved to 24:1, whereas the August 2026 call reported a current ratio of 1:21 while also claiming it had improved from 1:21 a year earlier. Even allowing for notation differences, the reported current figure has moved from 24 centers per lab to 21 centers per lab without an explanation of a changed definition, acquisition impact, or lab consolidation methodology.

Specialty Mix Goal Raised Without Reconciliation · 5 August 2026. In May 2026, management expected specialty to reach approximately 40% of revenue for the year. By August 2026, management was already reporting a 40% contribution and had raised the stated goal to 45%, a material five-point increase with no explanation of what changed or how the higher goal affects the growth and realization outlook.

Core Diagnostics Long-Term Margin Goal Downgraded · 14 May 2026. In the Nov 2025 call, management explicitly stated that Core Diagnostics would be brought to Metropolis levels of margin within 3 years of the acquisition, and directly confirmed the specific ~23-24% figure when asked by an analyst. In the May 2026 call, this same 3-year commitment is repositioned as 20% plus EBITDA for Core - a materially lower threshold that now sits well below Metropolis's own FY26 organic margin of 25.9%, with no explanation offered for the reduced ambition.

Every quote above is taken word for word from the company’s own earnings calls.

Metropolis Healthcare Ltd earned a ROCE of 18% in FY26. That is up from a low of 15% in FY25. Its return on capital used (ROIC) is 2.9 percentage points above its cost of capital, so growth here adds value, not just size. It comes from a 11.6% net margin and 0.77× asset turnover (sales divided by assets).

Return on capital employed (ROCE) is the profit the whole business earns on all the money in it, from shareholders and lenders together. It is the best single test of whether growth adds value or just size.

Why the return is what it is (FY26): a 11.6% net margin × 0.77× asset turnover × 1.41× leverage (assets divided by equity) ≈ 12.6% 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: 14.9% − 12.0% = +2.9 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 14.9% ROIC above is the latest reading, as reported. The yearly chart below shows FY26 at 13.3%, and the quarterly chart works out each 12-month window from the quarterly figures, so the readings differ by date, not by method.