Yatharth Hospital & Trauma Care Services Ltd

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.

Yatharth Hospital & Trauma Care Services Ltd trades at ₹818, in a confirmed uptrend and 17 weeks into that stage. That is +9.3% against its own 200-day average. It sits at 85% of a 52-week range of ₹551 to ₹866. On relative strength it is currently behind the NIFTY 500 on a trailing-13-week view (1 week and counting).

Today the stock is in a confirmed uptrend — week 17 of stage 2, confirmed. At ₹818 it trades +9.3% versus its 200-day average and sits at 85% of its 52-week range (₹551–₹866).

Against the market, two honest reads. Cumulative: over the last 3.0 years the stock moved +148% while the NIFTY 500 moved +39% — ahead of the index over the full window. Recent form: on a trailing-13-week view the stock is currently behind (1 week and counting; last ahead the week of 2026-07-24) — 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.

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.

Yatharth Hospital & Trauma Care Services Ltd trades at 45.0× P/E, at the pricey end of its own range (79th percentile). Its long-run median P/E is 38.7×, measured across 3.0 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 45.0× is at the pricey end of its own range (79th percentile), against a long-run median of 38.7× measured over 3.0 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 +34.3% against a +28.6% price move — earnings outran the price, pushing the multiple DOWN its own range.

The price move, decomposed: over 3y, of the +35.3%/yr price move, ~+21.9%/yr came from earnings growth and ~+13.4 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.

The PEG ratio and its quarterly curve, which only the second data source carries, are not drawn on this page: its two data sources disagree by up to 4.5% on reported income across 14 comparable periods. A figure two sources cannot agree on is not drawn — the gap is a decision, not missing data.

Stage: Mixed 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).

Yatharth Hospital & Trauma Care Services Ltd reads as mixed on its fundamental arc. Mixed — revenue growth is rising at +47.4% (single-quarter readings) while profit growth is decelerating from its peak at +15.4% (single-quarter readings) — the curves disagree, so the per-curve reads carry the story. The read is built from 10 quarters across 3 curves, on partial evidence.

Why it matters: when the curves disagree, the per-curve reads above matter more than any single verdict.

One or more growth curves carry a base-effect spike — a large year-on-year move off a near-zero or loss-making comparable quarter. Those spikes are capped before the classifier reads the trajectory, and shown pinned on the chart, so a single distorted quarter does not drive the stage call.

Return readings here are annual, not quarterly — read as level and direction only; they can confirm the growth curves but never drive the stage on their own.

A partial read: at least one curve is short, or the returns curve is not the computed quarterly series — hold the stage word a little more loosely.

4-Factor Sector Score

48.2/100 — rank 12 of 19 in Hospitals · 78% evidence confidence

Yatharth Hospital & Trauma Care Services Ltd scores 48.2 out of 100 against the 19 companies it is compared with in Hospitals, ranking 12. Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.

The four contributions add to the total exactly: 19.5 + 11.7 + 8.8 + 8.2 = 48.2. 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.

Revenue Revenue is the top line: everything the company billed its customers in the period.

Yatharth Hospital & Trauma Care Services Ltd reported ₹342 Cr of revenue in the Mar 26 quarter, +47.4% year on year. That is the 10th straight quarter of year-on-year growth. Over 9 years it has compounded at 37.0% a year. The last full year, FY26, came in at ₹1,207 Cr. The last four reported quarters add to ₹1,199 Cr.

FY26 revenue came in at ₹1,207 Cr (+40.3% on the year), capping 9 years at 37.0% compound. The latest quarter (Mar 26) printed ₹342 Cr, +47.4% year on year — the 10th consecutive quarter of year-over-year growth.

Pace check: the last four quarters averaged +35.8% growth against the decade's 37.0% — the current year is running slower than its own long-run rate.

Acceleration check: trailing-twelve-month revenue grew +36.1% over the last 4 quarters against +33.7%/yr over the last 8 — stabilising; TTM profit +31.5% vs +22.5%/yr — accelerating.

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.

Yatharth Hospital & Trauma Care Services Ltd's operating margin is 23.0% in the Mar 26 quarter, −2.0 percentage points against the same quarter a year ago. Across 10 fiscal years the operating margin has ranged 22.0% to 32.0%. The current quarter sits inside that band.

The latest quarter's operating margin is 23.0%, −2.0 pp against the same quarter a year ago. Across 10 fiscal years the operating margin has ranged 22.0%–32.0%.

🚨 Why the margin moved: operating margin went −1.2 pp year on year while gross margin went +1.9 pp — the loss came mostly from the gross line: input costs and pricing.

Net profit Net profit is what survives every cost, interest and tax — the number EPS, dividends and book value all grow from.

Yatharth Hospital & Trauma Care Services Ltd earned ₹45.0 Cr of net profit in the Mar 26 quarter, +15.4% year on year. It is the 10th consecutive quarter of growth. Full-year FY26 profit was ₹170 Cr. The 9-year compound rate is 56.6%. That is 13.2% of the quarter's revenue. The same quarter a year earlier earned ₹39.0 Cr.

Mar 26 profit was ₹45.0 Cr, +15.4% year on year — the 10th consecutive quarter of growth. On the full year, FY26 printed ₹170 Cr (+29.8%), and the 9-year compound rate is 56.6%.

Why profit moved: revenue contributed +47.4% and the margin −2.0 pp — the quarter was revenue-led despite a thinner margin.

Pace comparison, last four quarters: profit +32.8% vs revenue +35.8%. Profit is growing slower than sales — costs are eating the growth before it reaches the bottom line.

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 85% of Yatharth Hospital & Trauma Care Services Ltd's reported profit arrived as operating cash — the cash follows the profit. In FY26 that was ₹205 Cr of operating cash against ₹170 Cr of profit. After ₹613 Cr of capital spending, ₹−408 Cr was left as free cash.

FY26: operating cash of ₹205 Cr against reported profit of ₹170 Cr, leaving free cash of ₹−408 Cr after ₹613 Cr of capital spending. Across the last 3 fiscal years the conversion rate is 85% 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 85%: the cash cycle tightened 88 days between FY21 and FY26 — cash that used to wait in the cycle now reaches the bank sooner.

Router verdict: the bigger cash user is investment — capital spending ran 7.1× 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).

Yatharth Hospital & Trauma Care Services Ltd's cash conversion cycle runs −26 days in FY26, down from 62 days in FY21. Capital spending ran ₹1,227 Cr over the last 3 years. At FY26 sales of ₹1,207 Cr each day of that cycle holds about ₹3.3 Cr, so roughly ₹−86.0 Cr sits inside the business at any moment.

FY26: debtors at 113 days, inventory at 32 days — roughly 1.1 months of stock waiting to sell; that is where the cash sits while it waits — for a full cycle of −26 days, tighter than FY21's 62.

The full loop: cash goes out to suppliers and production on day 0; stock waits 32 days to sell; customers pay about 113 days after that; and suppliers themselves are paid at 171 days — netting out to the −26-day cycle.

In money terms: at FY26 sales of ₹1,207 Cr, each day of the cycle holds about ₹3.3 Cr — so the −26-day loop keeps roughly ₹−86.0 Cr sitting inside the business at any moment.

On the investment side: capital spending of ₹1,227 Cr over the last 3 fiscal years against ₹174 Cr of depreciation — the company is building well ahead of wear-and-tear. Capital work-in-progress stands at ₹102 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.

Yatharth Hospital & Trauma Care Services Ltd earns a ROCE of 12% in FY26. That is up from a trough of 6% in FY19. A return-on-invested-capital spread against the cost of capital is not computable from what is held here. The wiring behind it is 14.1% net margin on 0.53× asset turns.

FY26 ROCE is 12%, recovered from a FY19 trough of 6% — the full ladder below shows the fall and the climb, undoctored.

Why the return is what it is — the wiring (FY26): 14.1% net margin × 0.53× asset turns × 1.28× balance-sheet leverage ≈ 9.6% on equity. Margin does its share; leverage is modest — this is an earned return, not a borrowed one.

The quarterly return curves and the return-on-invested-capital overlay, which only the second data source carries, are not drawn on this page: its two data sources disagree by up to 4.5% on reported income across 14 comparable periods. A figure two sources cannot agree on is not drawn — the gap is a decision, not missing data.

Debt Debt-to-equity says how much of the business is funded by borrowings; interest cover says how many times operating profit pays the interest bill. Low and high, respectively, is the safe corner.

Yatharth Hospital & Trauma Care Services Ltd carries ₹264 Cr of borrowings against ₹1,780 Cr of equity in FY26, a debt-to-equity of 0.15. Operating profit covers the interest bill 42×. Over 5 years borrowings went from ₹193 Cr to ₹264 Cr. Capital spending ran ₹1,227 Cr across the last 3 of those years.

FY26: borrowings of ₹264 Cr against equity of ₹1,780 Cr — a debt-to-equity of 0.15. Operating profit covers the interest bill 42×. Over 5 years borrowings went from ₹193 Cr to ₹264 Cr while capital spending ran ₹1,227 Cr in just the last 3 — part of the build-out is riding on borrowed money.

The total-debt and debt-to-equity series, which only the second data source carries, are not drawn on this page: its two data sources disagree by up to 4.5% on reported income across 14 comparable periods. A figure two sources cannot agree on is not drawn — the gap is a decision, not missing data.

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.

Promoters cut 10.7 points of Yatharth Hospital & Trauma Care Services Ltd over 8 quarters, the biggest move on the register. That takes promoters to 55.8% of the company. Domestic institutions moved +1.4 points over the same window, to 10.8%. The register is read on the four disclosed classes only; nothing is inferred between filings.

The register over the last two years — Promoters: −10.7 points over 8 quarters to 55.8%; Domestic institutions: +1.4 points over 8 quarters to 10.8%; Foreign institutions: +0.7 points over 8 quarters to 5.6%.

🚨 Why the register moved: promoters drove it (−10.7 points), absorbed on the other side by domestic institutions (+1.4 points) — distribution into the market’s bid.

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.

Yatharth Hospital & Trauma Care Services 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 safety line in one sentence: the Z-score is not available for this stock, so we say so rather than invent one.

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