NEPHROPLUSHealthcare

Nephrocare Health Services Limited

Healthcare Service Provider · ISIN INE428V01029 · BSE 544647 · NSE EQ · FV ₹2
Last price
₹735
-0.01%today
What this company does

Nephrocare Health Services Limited operates in Healthcare Service Provider, part of the Healthcare sector. It booked ₹282 cr of revenue in its latest quarter (Q1 FY27) and kept 11.3% of sales as profit. It is the 5th largest of 9 Healthcare Service Provider companies we track, by market value.

In the report:
63out of 100
Equitytale Health Score
Mixed

Healthier than 63% of companies in Healthcare, on the 5 of 6 measures we could read for it. Each measure is ranked against the 116–150 companies that reported it.

Measures financial condition, not whether to buy. Learn what this score means · How this is calculated

Price momentum
neutral
RSI (14)
60

At close. Not part of the score.

Profitability & returns49

How much profit it earns on the money it employs

Balance sheet70

How much it owes, and whether earnings cover the interest

Cash quality85

Whether reported profit actually arrives as cash

Valuation29

What today's price implies, against our models or its peers

Governance & risk100

How much of the promoters' stake is pledged, and how much they hold · highest in its sector on what we could measure

Not measurable for this company: growth & consistency. Those pillars are left out of the score rather than counted as zero.

Is this company doing well?
not investment advice
Looks broadly healthyPriced in line with peers
Strengths
Makes a profit
Promoters hold 64%
No promoter shares pledged
Virtually debt-free
Watch-outs
None flagged from our data

What if I invest in NEPHROPLUS?

Set a growth rate and see what a monthly SIP would add up to. Your assumption, our arithmetic.

You would put in
₹12.00 lakh
120 instalments
At 5% a year, it would become
₹15.50 lakh

The slider starts at 5%, taken from a generic assumption, not this company's history. That is history, not a forecast — this is your assumption, and the figure above is arithmetic on it. Returns are not steady year to year, and a real holding would not grow in a straight line. We do not publish price targets or predict returns.

Key ratios · latest quarter + price
₹735 -0.01%
latest close · 2026-09-17
52-wk low ₹61842 sessions so far52-wk high ₹782
Is it cheap or expensive?
What you pay for the profits, book value and cash flow. Higher isn't automatically worse — it can signal faster growth.
P/E ratio57.6High
LowAverageHigh
P/B ratio6.61High
Below bookModerateHigh
EV / EBITDA25.7High
LowAverageHigh
How good is the business?
How much profit it earns from its money and its sales.
Return on equity11.5%Fair
WeakFairStrong ▸15%
Return on capital16.0%Strong
WeakFairStrong
Net margin11.3%Decent
ThinDecentStrong
EBITDA margin25.3%Healthy
ThinDecentHealthy
Is it financially safe?
How much it owes, and whether it can comfortably cover it.
Debt to equity0.07Comfortable
LowModerateHigh ▸1
Interest cover21.2×Strong
RiskyOkayStrong ▸5×
Current ratio2.80Ample
Tight ◂1HealthyAmple
More figures
Market cap
₹7,376 cr
Book value
₹111
EPS
₹3.19
latest quarter
Net debt
₹-44 cr
more cash than debt
Enterprise value
₹7,332 cr
EBITDA
₹285 cr
annualised
EBIT
₹187 cr
annualised
Operating margin
16.6%
Return on assets
8.7%
Earnings yield
1.74%
P/S
6.54
Sales / share
₹112.3
Tax rate
20.3%
Face value
₹2
Shares
10.0 cr
Working capital
₹540 cr
Current assets
₹839 cr
Current liabilities
₹299 cr
Delivery %
49.1%
Strong / safeFairWeak / riskyValuation — a level, not good/badBands are general rules of thumb, not advice.

P/E, ROE, ROCE and margins are annualised from the latest quarter; per-share and balance-sheet ratios use the most recent balance sheet on file · prices as of 2026-09-17.

Worth vs price · from the FY 2026 report & filings
not investment advice
Hard to value confidentlyLow confidence
Too few reliable models — the filings don't support two independent estimates of value.
Models span ₹128₹128, midpoint ₹128

An educational model from the company's own filings, every assumption shown — not investment advice or a price target. Prices can stay above or below any model for years.

P&L · Q1 FY27 (consolidated)
Revenue from Operations₹282 cr
Other Income₹7 cr
Total Income₹289 cr
Cost of Materials₹62 cr
Purchases of Stock-in-Trade₹0 cr
Employee Benefit Expense₹48 cr
Finance Costs₹2 cr
Depreciation & Amortisation₹25 cr
Other Expenses₹108 cr
Total Expenses₹245 cr
Profit before Tax₹45 cr
Tax Expense₹9 cr
Share of JV / Associates₹-4 cr
Net Profit₹32 cr
Net margin on total income11.1%
Where the money goes · Q1 FY27
% of total income
Materials + stock-in-trade₹62 cr21.9%
Employee benefit expense₹48 cr16.7%
Finance costs₹2 cr0.8%
Depreciation & amortisation₹25 cr8.6%
Other expenses₹108 cr37.7%
Tax expense₹9 cr3.2%
Profit for the period₹32 cr11.2%
Total income ₹289 cradds up to ₹100 ✓
Quarterly results · consolidated (₹ cr)
MetricQ3 FY26Q4 FY26Q1 FY27
Revenue260 cr266 cr282 cr
Total income263 cr277 cr289 cr
Expenses227 cr241 cr245 cr
Profit before tax36 cr36 cr45 cr
Tax4 cr3 cr9 cr
Net profit (owners' share)32 cr30 cr32 cr
Net margin (owners' share, on revenue)12.4%11.4%11.3%
EPS (₹)3.433.033.19
Balance sheet & cash flow · as of Mar 2026
Low debt
Total assets
₹1,471 cr
Shareholder equity
₹1,116 cr
parent shareholders
Total debt
₹80 cr
Cash
₹124 cr
Peer comparison
Healthcare Service Provider · by market value
CompanyPriceMarket capP/E
Dr. Lal Path Labs Ltd.₹1,925₹32,258 cr47.4
Vijaya Diagnostic Centre Limited₹1,506₹15,497 cr73.0
Metropolis Healthcare Limited₹586₹12,156 cr53.7
Thyrocare Technologies Limited₹559₹8,902 cr43.3
Nephrocare Health Services Limitedthis company₹735₹7,376 cr57.6
Krsnaa Diagnostics Limited₹541₹1,755 cr26.5
Suraksha Diagnostic Limited₹329₹1,713 cr32.9
Health X Platform Limited₹300₹954 cr93.8
Gaudium IVF and Women Health Limited₹115₹836 cr114.8
Same industry · latest reported numbers · not a recommendation.
Who owns it · 2026-06-30
No pledge
Promoter
63.9%
FII / Foreign
8.8%
DII / Domestic
9.1%
Retail / others
18.3%
Smart-money activity
Bulk / block deals
short · NSE202 Sep 26
short · NSE625 Aug 26
short · NSE2713 Aug 26
Stake changes
BoughtPolar Capital Funds PLC - Healthcare Discovery Fund→ 0.00% · 1,68419 Dec 25
BoughtPolar Capital Funds PLC - Healthcare Opportunities Fund→ 5.04% · 2.12 L19 Dec 25
BoughtPolar Capital Funds PLC - Emerging Markets Healthcare Fund→ 0.00% · 41719 Dec 25
What shareholders were asked to approve

A company cannot decide everything on its own. Things like a top executive’s pay, issuing new shares, or re-appointing a director have to be put to the people who own the company, and they vote — one vote per share. So whoever owns the most shares has the most say.

Yearly shareholder meeting · 12 Aug 2026
See the official result
1
To receive, consider and adopt the audited Standalone and Consolidated Financial Statements of the Company for the financial year ended March 31, 2026 together with the Auditors’ Report and Board’s Report thereon and pass the following resolution as an Ordinary Resolution
Backed by 100% of shareholders other than promotersneeded 50%
2.83 cr votes for, 13,588 against · 0% of mutual funds and other big investors said no
2
To re-appoint Mr. Gaurav Sharma (DIN: 03311656), Nominee Director (Non-Executive category), who retires by rotation and being eligible, offers himself for re-appointment and pass the following resolution as an Ordinary Resolution
Promoters had a personal stake in this
Backed by 87% of shareholders other than promotersneeded 50%
2.46 cr votes for, 36.17 L against · 14% of mutual funds and other big investors said no
3
Approval for the “NephroPlus Employee Stock Option Scheme, 2026
Backed by 93% of shareholders other than promotersneeded 75%
2.62 cr votes for, 21.07 L against · 8% of mutual funds and other big investors said no
4
To consider and approve grant of Employee Stock Options to the employees of subsidiary, associate company incorporated in India or outside India, or holding company of the Company under NephroPlus Employee Stock Option Scheme - 2026
Backed by 93% of shareholders other than promotersneeded 75%
2.61 cr votes for, 21.20 L against · 8% of mutual funds and other big investors said no

Every vote count above is taken from the result the company filed with the stock exchange, certified by an independent counter. To work out what would have happened without the promoters, we simply remove their votes and re-apply the same legal bar the proposal had to clear. Nothing here is an estimate or an opinion.

Who controls this company, and what it pays them

Most Indian companies are controlled by a family or group — the promoters. The exchange requires them to be listed by name, including members who own no shares at all, and requires the company to disclose any business it does with them.

The promoter group — 29 named members
owning 63.9% between them · as of 2026-06-30
EDORAS INVESTMENT HOLDINGS PTE LTD28.30%
VIKRAM VUPPALA9.79%
BESSEMER VENTURE PARTNERS TRUST8.66%
HEALTHCARE PARENT LIMITED5.80%
INVESTCORP PRIVATE EQUITY FUND II5.32%
QUADRIA CAPITAL INDIA FUND III1.88%
VIRAAJ FAMILY TRUST (Trustee Ms. MANJU VUPPALA )1.85%
MANVI FAMILY TRUST (Trustee Mr. VIKRAM VUPPALA)1.77%
Business done with them
FY2026 · 1 of the group
The company paid ₹597 cr to companies in the promoter group last year — about 59.7% of its ₹999 cr revenue.
Vikram Vuppala
Other payments to them · Short term employee benefits, Gratuity expense, Employee stock option cost, Conversion of partly paid up equity shares to fully paid up equity shares, Issue of Bonus CCPS with a variation right
also owns 9.79% of the company
₹597 cr
company paid

The company also transacted with 8 other related parties — subsidiaries, joint ventures, directors and others — that we could not match by name to the promoter list above. Some may still be connected to the family; we only count the ones the filings let us match with certainty.

Names and holdings from the company’s shareholding pattern filed with the exchange; transactions from the related-party note in its annual report. Every figure is as filed — these are legal, disclosed dealings, and what to make of them is your call.

Money it raised, and what it did with it

When a company raises money from investors, it has to say up front what the money is for. The rules then make it report, every three months until the money is gone, how much of each of those things it has actually paid for — so a promise made while asking for the money can be checked afterwards.

₹353 cr raised in Dec 2025 by selling shares to the public

As of Jun 2026, the company says it has spent 63% of what it set aside, leaving ₹132 cr still to be spent. Crisil Ratings Limited watches the spending on the exchange’s behalf.

Capital expenditure by the Company for opening new dialysis clinics in India
10%
₹13 cr of ₹129 cr
Pre-payment, or scheduled repayment, in full or part, of certain borrowings availed by the Company
100%
₹136 cr of ₹136 cr
General corporate purposes
98%
₹59 cr of ₹60 cr
Issue expenses
50%
₹14 cr of ₹28 cr
Spent by quarter: 26%50%63% (to Jun 2026)

Every figure above is taken from the statement the company files with the stock exchange each quarter, for as long as money it has raised remains unspent. The only thing we work out is how much of each stated purpose has been paid for — one number divided by another from the same filing. Whether a plan that changed was a good change is not something a filing can tell you. See the filing

How the stock has moved · adjusted for splits & bonuses
Data from primary exchange filings · analysis tool, not investment advice.