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Healthcare Global Enterprises Ltd (HCG)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 539787 NSE: HCG Hospital & Healthcare Services | Small Cap | HealthcareGlobal Share Price

₹630.75 -9.95 (-1.55%)

As on 05-Jun'26 11:01

Healthcare Global Enterprises Ltd (HCG)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 539787 NSE: HCG Hospital & Healthcare Services | Small Cap | HealthcareGlobal Share Price

₹630.75 -9.95 (-1.55%)

As on 05-Jun'26 11:01

Key Metrics
Valuation Multiples
Market Cap
₹9,566 Cr.
Current Price
₹630.8
52-Week Low / High
₹512 / 799
TTM EPS
₹1
TTM Sales
₹1,365 Cr.
Book Value per Share
₹107.5
P/E Ratio
656.09
Higher than its 5-year historical median
Industry PE
87
Price to Book (P/B)
5.96
Higher than its 5-year historical median
Price to Sales (P/S)
7.01
Higher than its 5-year historical median
EV/EBITDA
35.61
Higher than its 5-year historical median
Dividend Yield
0.00%
Profitability Efficiency
Return on Equity (ROE)
0.30%
Underperforms industry median
Return on Capital Employed (ROCE)
6.03%
Underperforms industry median
Return on Assets (ROA)
0.15%
Operating Profit Margin
16.6%
Net Profit Margin
0.28%
Gross Profit Margin
13%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
Slowing versus 3-year growth rate
9.04%
Operating Profit Growth (1 Year)
Slowing versus 3-year growth rate
5.36%
Net Profit Growth (1 Year)
Slowing versus 3-year growth rate
-89.24%
Asset Quality
Promoter Holding
64.21%
Pledged shares (%) of Promoter's holding (%)
5.17%
Reserves
₹1,455 Cr.
Equity
₹149.3 Cr.
Face Value
₹10
All Time Low / High
₹62.56 / 799.36

Healthcare Global Enterprises stock performance

Key Ratios
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Check Before You Invest

Quality

Somewhat Good

Valuation

Overvalued

Price Trend

Strong
Q.1 Is Healthcare Global Enterprises Ltd a good quality company?
Healthcare Global Enterprises Ltd is a average quality company, based on a somewhat consistent multi-year financial track record.

This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.

We have analysed the performance of the company on the following:

  • How has it performed on generating Profits?

    By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.

  • How efficiently has it utilized Capital?

    By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.

  • How is it managing its Debt?

    By checking its Debt to Equity and Cash Flow from Operations.

How does Healthcare Global Enterprises Ltd performance compare with that of its Peers?
Q.1 Revenue growth of Healthcare Global Enterprises Ltd vs industry peers?
Healthcare Global Enterprises Ltd revenue CAGR is 13.15%, compared to the industry median CAGR of 1.38%, indicating faster growth and gaining its market share.
Q.1 Promoter shareholding and pledge status of Healthcare Global Enterprises Ltd?
Promoters hold 64.21% of the Healthcare Global Enterprises Ltd, with 5.17% of their stake pledged, indicating low pledge risk.
Q.1 Stock return of Healthcare Global Enterprises Ltd over the last decade?
Over the last 9 year(s), the stock has delivered a CAGR of 13.8% based on the current price.

DeciZen - make an informed investing decision on HealthcareGlobal

Decision Maker
Standalone basis

1. Right Stock

10 Year X-ray Pro
Long Term Prospect

2. Right Price

3. Right Time

#Likely Future 5 Year CAGR.

10 Year X-Ray :

Analysis of Financial Track Record (Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end)

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Healthcare Global Enterprises Ltd has performed well in some of the past ten years indicating its past ten year financial track record is somewhat good

Value Creation

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
ROCE % 4%6.1%7.7%6.1%1.6%-12.6%10.5%8%7.3%6%-
Value Creation
Index
-0.7-0.6-0.5-0.6-0.9-1.9-0.3-0.4-0.5-0.6-

Growth Parameters

Sales 4715455866416886098501,0061,1711,2771,365
Sales YoY Gr.-15.7%7.6%9.3%7.5%-11.6%39.6%18.3%16.4%9%-
Adj EPS -0.22.220.8-6.1-15.20.13.13.121
YoY Gr.-NA-11.2%-60.8%-878.2%NANA4271.4%1.3%-36.1%-
BVPS (₹) 60.663.169.272.368.169.2788183.183.3107.5
Adj Net
Profit
-1.819.317.46.9-54.2-192142.843.427.815
Cash Flow from Ops. 57.853.966.48786.370.9124130209146-
Debt/CF from Ops. 3.4444.95.73.40.90.924.5-

CAGR

9 Years 5 Years 3 Years 1 Years
Sales 11.7%13.2%14.5%9%
Adj EPS NANA204.7%-36.1%
BVPS3.6%4.1%2.2%0.3%
Share Price 13.4% 28% 25.6% 15.3%

Key Financial Parameters

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
Return on
Equity %
-0.53.62.91.1-8.6-24.90.13.83.72.31
Op. Profit
Mgn %
13.615.21414.716.812.117.316.917.116.617.7
Net Profit
Mgn %
-0.43.531.1-7.9-31.50.14.33.72.21.1
Debt to
Equity
0.40.40.40.70.80.30.10.10.40.60.2
Working Cap
Days
12813016121124025715012413415392
Cash Conv.
Cycle
-18-16-31022382626222121

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Sales4715455866406886098501,0061,1711,277
Operating Expenses + 4074625045465735357038379701,065
Manufacturing Costs141158159192215196241273312350
Material Costs134149155153147138210236281318
Employee Cost 8598116130143137157175205221
Other Costs 48577571696595153171177
Operating Profit 6483829411673147169201211
Operating Profit Margin (%) 13.5%15.2%13.9%14.7%16.8%12.1%17.3%16.8%17.1%16.6%
Other Income + 372313122412221639
Exceptional Items -4030-31-15353-3-16-35
Interest 34162748836343415084
Depreciation 374444477987888997111
Profit Before Tax -9293713-65-20581585420
Tax -410125-12-1443172116
Profit After Tax -519257-53-1923840334
PAT Margin (%) -1.0%3.6%4.3%1.1%-7.7%-31.5%4.5%4.0%2.8%0.3%
Adjusted EPS (₹)-0.62.32.90.8-6.0-15.22.72.92.30.3
Dividend Payout Ratio (%)0%0%0%0%0%0%0%0%0%0%

Valuation of HealthcareGlobal - Standalone

YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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Analyst's Notes

data not found
No data found!

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25

Equity and Liabilities

Shareholders Fund + 5195446056396078731,0911,1331,1641,169
Share Capital 8586878889125139139139139
Reserves 4344585185515197489529941,0251,030
Debt +16016521939641921483113375583
Long Term Debt12312421734631514782113274304
Short Term Debt37412501046710101280
Minority Interest0000000000
Trade Payables97105114106998196109148152
Others Liabilities 6096165259628379374375552699
Total Liabilities 8369101,1031,4001,7541,5471,6441,7302,2392,604

Fixed Assets

Net Fixed Assets +4314424925479147457747889741,038
Gross Block4675115916931,1411,0581,1771,2751,5661,699
Accumulated Depreciation366999146227313403487592661
CWIP 2933791044428593623
Investments 155141219299316366439475506696
Inventories11151716131217212320
Trade Receivables69101126146152147160212221262
Cash Equivalents 5075159151412080237264
Others Assets 91103155280300235129144241302
Total Assets 8369101,1031,4001,7541,5471,6441,7302,2392,604

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Cash Flow From Operating Activity + 585466878671124130209146
PBT -9293713-65-20581585420
Adjustment 7457609119228579150174227
Changes in Working Capital -0-25-3210-20-49-21-6014-82
Tax Paid -8-71-26-2040-15-17-33-19
Cash Flow From Investing Activity + -86-73-185-208-116-24649-138-254-347
Capex -90-40-104-123-80-23-42-95-129-33
Net Investments -3220-154-102189-10-47-112
Others 7-35-100-70-40-120-99-32-78-202
Cash Flow From Financing Activity + 120-149166-3236-41-4296-42
Net Proceeds from Shares 271735020453132122
Net Proceeds from Borrowing -110-97910636-219-671416757
Interest Paid -33-12-23-40-66-59-43-36-48-90
Dividend Paid 0000000000
Others -8000762-63-21-25-10
Net Cash Flow 92-33-27-55-3261132-4951-243

Financial Ratio

PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Ratios
ROE (%)-1.23.674.331.16-8.55-25.873.93.612.860.3
ROCE (%)3.986.127.656.131.62-12.5510.468.027.256.03
Asset Turnover Ratio0.620.620.580.510.440.370.530.60.590.53
PAT to CFO Conversion(x)N/A2.842.6412.43N/AN/A3.263.256.3336.5
Working Capital Days
Receivable Days51.7056.8070.6077.507989.9066.1067.6067.5069
Inventory Days9.308.70109.507.707.306.3076.906.10
Payable Days235.10247.60258.50262.80255.80237.80154.10158.60166.60172.40

Management X-Ray

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.003.093.093.093.094.995.705.525.525.17
* Pledged shares as % of Promoter's holding (%)

Top 5 Mutual Funds Holding

Last Visited Stocks

Announcements

Healthcare Global Enterprises Ltd FAQs

The current trading price of HealthcareGlobal on 05-Jun-2026 11:01 is ₹630.8.

Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 04-Jun-2026 the market cap of HealthcareGlobal stood at ₹9,565.8 Cr

The latest P/E ratio of HealthcareGlobal as of 04-Jun-2026 is 656.1.

The latest P/B ratio of HealthcareGlobal as of 04-Jun-2026 is 5.96.

The 52-week high of HealthcareGlobal is ₹799.4 and the 52-week low is ₹511.8.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of HealthcareGlobal is ₹1,365 ( Cr.) .

Past 10 year's financial track record analysis by Moneyworks4me indicates that Healthcare Global Enterprises Ltd is a average quality company.

The key valuation ratios of Healthcare Global Enterprises Ltd's currently when compared to its past seem to suggest it is in the Overvalued zone.

The Price Trend analysis by MoneyWorks4Me indicates it is Strong which suggest that the price of Healthcare Global Enterprises Ltd is likely to Rise in the short term. However, please check the rating on Quality and Valuation before investing

About Healthcare Global Enterprises Ltd

HealthCare Global Enterprises (HCG), founded in 1989, offers cancer care, tertiary care, infertility treatment, and advanced screening and diagnostic services. HCG has four entities: HCG - the Specialist in Cancer Care, HCG Hospitals - for Multispecialty Care, Milann - the Fertility Center, and Triesta Sciences - the Diagnostic Center. Strategically positioned throughout South Asia and Africa, these entities offer comprehensive healthcare services to patients from diverse backgrounds worldwide.

The company has a robust network of specialists, including oncologists, experienced doctors, and visiting doctors, all dedicated to providing individualized and patient-focused care. In India, HCG has many centers, which include comprehensive cancer hospitals, multispeciality hospitals, and day care chemotherapy centers spanning across metropolitan, tier II, and tier III cities. Apart from its centers in India, HCG has a comprehensive cancer center in Nairobi, Kenya (HCG - Cancer Care Kenya) to cater to the cancer care needs of the African population.

The company was originally incorporated as Curie Centre of Oncology Private Limited on March 12, 1998 at Bengaluru, Karnataka, India as a private limited company under the Companies Act, 1956. The name of the company was subsequently changed to HealthCare Global Enterprises Private Limited and a fresh certificate of incorporation consequent upon change of name was issued by the RoC on November 14, 2005. The company was converted into a public limited company pursuant to a special resolution passed by its Shareholders at the extraordinary general meeting held on May 20, 2006 and the name of the company was changed to HealthCare Global Enterprises Limited. A fresh certificate of incorporation consequent upon conversion to a public limited company was issued by the RoC on July 5, 2006.

Business area of the company

The company is a leading healthcare provider in India dedicated to delivering patient-centric and personalized care for cancer and other health conditions. With over years of experience in the healthcare space, the company helped millions of patients receive comprehensive care and support and return to the best state of health possible.

Awards

  • 2015: At Frost and Sullivan 7th Annual Indian Healthcare Excellence Awards in 2015, Milann was recognised as the 'Emerging IVF Service Provider Company of the Year'.
  • 2016: The HCG network was ranked second in India and first in the South India region and Bengaluru for cancer care in the Times Health All India Critical Care Hospital Ranking Survey 2016.
  • 2018: HCG Hospitals, Bhavnagar was recognised as the 'Best Multispeciality Hospital' in Bhavnagar by Saurashtra Samachar in 2018.
  • 2018: HCG Cancer Centre, Ahmedabad was awarded as the 'Best Cancer Hospital' by DivyaBhaskar in 2018.
  • 2019: Milann has been honoured with The National Icon Award 2018-19 for being 'India's Most Trusted IVF Centre'.
  • 2021: HCG Cancer Hospital Bengaluru bestowed with the 'Nursing Excellence' award at the Association of Healthcare Providers - India (AHPI) Award 2021.
  • 2021: Three centres from the HCG network, namely Bangalore, Mumbai and Vadodara bagged 1st, 3rd and 6th positions under the National Single Speciality
  • 2021: Oncology category in the Times Health's All India Critical Care Hospital - Ranking Survey 2021.
  • 2021: Milann has been recognised as 'The Best Fertility and IVF Chain in India' by ET Healthcare Brands.
  • 2021: HCG Cancer Centre, Ahmedabad, has been honoured with the Times Healthcare Leaders Ahmedabad 2021 Awards for 'Excellence in Oncology' and 'Excellence in Innovative Technology'.
  • 2021: HCG Cancer Centre, Ahmedabad, was ranked amongst the World's Best Hospitals 2021 by Newsweek Magazine.
  • 2022: HCG Cancer Centre, Vadodara bestowed by 'Eminence Award 2022' by Divya Bhaskar
  • 2022: HCG bestowed with BW HealthcareWorld Excellence Awards '22 under the Institutional Excellence in Oncology category for outstanding contributions to healthcare.
  • 2022: HCG Hospitals Bhavnagar awarded for exemplary performance under Ayushman Bharat Pradhan Mantri Jan Arogya Yojana (AB PM-JAY)
  • 2022: HCG Hospitals Bhavnagar Ranked 1st in the competition of Swachh Hospitals between Hospitals of Bhavnagar City during 'Swachh Survekshan - 2022' held by Solid Waste Management System, Bhavnagar Municipal Corporation
  • 2022: HCG Cancer Centre Ahmedabad received Certificate of appreciation from Ahmedabad Municipal Corporation for commendable work in ABPMJAY
  • 2022: HCG Cancer Centre Ahmedabad received Certificate of Recognition by Times Healthcare Leaders for excellence in Patient Care & Safety
  • 2022: HCG Cancer Centre Ahmedabad bestowed with Certificate of Recognition by Times Healthcare for most Promising Brand in Comprehensive Ortho Care
  • 2022: HCG Cancer Centre Ahmedabad has been honoured with Gold Category award from Government of Gujarat in recognition of adherence to the Quality Certification standards of AB PM-JAY
  • 2023: 7th NURSING CONCLAVE; 28 June: Confederation of Indian Industry (CII) and Indian Women Network (IWN) organized Joyee 2023. Recognition of Excellence in Nursing - a felicitation program for care givers at the sideline of 7th Nursing Conclave to acknowledge the exceptional contribution made by the nurses from the hospitals of the region.
  • 2023: HCG Abdur Razzaque Ansari Cancer Hospital Ranchi is ranked 16th in All India Critical Care Hospital Ranking Survey 2023 by The Times of India under the category - 'Best National Single Specialty in Oncology'.
  • 2023: HCG Cancer Centre Nagpur was conferred with Navabharat Health Excellence Award 2023 under the best cancer hospital category.
  • 2023: HCG Cancer Centre Nagpur awarded Vidarbh Ratna Award 2023 under the best cancer hospital category for excellence in different sectors where we stood on top in healthcare.
  • 2024: BW Healthcare Excellence Awards '2024 under the Institutional Excellence in Oncology
  • 2024: Healthcare Global Enterprises Ltd (HCG) has been recognized as the ESG (Environmental, Social, and Governance) Champion of India 2024 at the prestigious Dun & Bradstreet 'ESG Leadership Summit 2024.' This accolade is a testament to our constant commitment to sustainability, social responsibility, and ethical governance practices
  • 2025: HCG Cancer Hospital, Nagpur, was recognized as the 5th Best Oncology Setup in the West Region in The Week – Hansa Research Best Hospitals Survey.
  • 2025: HCG Cancer Hospital, Nagpur, received the Best Cancer Centre in Central India Award at the Navabharat Healthcare Summit 2025.
  • 2025: HCG Cancer Hospital, Nagpur, was honored by the Sakal Media Group for Excellence in Oncology Care at the Sakal Arogya Coffee Table Book event.
  • 2025: HCG Cancer Centre, Borivali, has been honored with the Excellence Award in the category of Oncology & Cancer Care at the Radio City Mumbai Icon Awards 2025
  • 2025: HCG Cancer Centre, Borivali, has been ranked No. 1 in the Western Suburbs for Oncology by Mid-Day.
  • 2025: HCG ICS Khubhchandani Cancer Centre has been honored with the Excellence Award in the category of Oncology & Cancer Care at the Radio City Mumbai Icon Awards 2025.
  • 2025: The Mid-Day Critical Care Hospital Survey 2025 recognized HCG ICS Khubchandani Cancer Centre as the 2nd Best Hospital for Oncology in Mumbai.
  • 2025: HCG ICS Khubhchandani Cancer Centre earned the Excellence in Cancer Care & Innovation distinction at the Times Healthcare Leaders Awards 2025.
  • 2025: HCG ICS Khubhchandani Cancer Centre has received recognition for Excellence in Precision Cancer Treatment at the Times Healthcare Leaders Awards 2025.
  • 2025: HCG ICS Khubhchandani Cancer Centre has been awarded Best Cancer Institute in Mumbai at the Navbharat Times Awards 2025.
  • 2026: HCG Cancer Hospital, Borivali, has been recognized as the Center of Excellence in Comprehensive Cancer Care 2025–26 by Corporate Connect.

Milestones

  • 1989: Bangalore Institute of Oncology commences operation.
  • 1998: Company incorporated as Curie Centre of Oncology.
  • 2005: Company’s name changed to HealthCare Global Enterprises Pvt. Ltd.
  • 2005: Entry into clinical laboratory business through acquisition of Triesta Sciences.
  • 2006: 1st to introduce IGRT technology in North India.
  • 2006: Acquired the 1st privately owned comprehensive cancer care centre in Karnataka.
  • 2006: 1st private cancer centre in India to introduce Cyclotron and PET-CT.
  • 2006: India Development Fund made its first investment of Rs 500 million in the company.
  • 2006: BMORCL became its subsidiary.
  • 2007: HCG Medi-Surge became its subsidiary.
  • 2007: Evolvence made its first investment of Rs 225 million in the company,
  • 2008: NTICPL made its first investment of Rs 400 million in the company.
  • 2008: 1st comprehensive cancer care centre in Jharkhand.
  • 2009: One of the first centres in India to introduce CyberKnife technology.
  • 2009: HCG Hubli, 1st centre in North Karnataka to introduce IGRT technology.
  • 2009: Amalgamation of Triesta Sciences (India) Private Limited and Triesta Sciences Inc. with the company.
  • 2010: IL&FS Trust Company Limited a/c MPEF, through its scheme India Build Out Fund I and MAT made its first investment of Rs 312 million in the company.
  • 2011: HCG Ahmedabad, 1st privately owned comprehensive cancer care centre in Gujarat.
  • 2011: Amalgamation of BMORCL with the company.
  • 2012: HCG Chennai, 1st centre to use revolutionary FFF technology.
  • 2013: HCG Cuttack, 1st comprehensive oncology centre in Odisha.
  • 2013: Entered into the fertility business through acquisition of 50.10% stake in BACC Healthcare.
  • 2016: Listed on BSE and NSE
  • 2016: 1st centre to introduce Tomotherapy-H in India.
  • 2015: HCG Regency became its subsidiary.
  • 2015: Amalgamation of HCG Vijay with the company.
  • 2017: First Indian company to setup a cancer centre in Africa.
  • 2018: HCG Kolkata to launch 1st Radixact in India
  • 2019: 1st Cyberknife in entire Western India
  • 2020: 1st Digital PET CT in India
  • 2021: Acquisition of Suchirayu
  • 2022: 1st Centre to introduce Elekta Versa HD in the sub-saharan Africa
  • 2023: 1st Centre to introduce varian ethos therapy, an AI driven holistic solution of radiation therapy in India
  • 2023: Weaving a new era of cancer care in Indore. HCG launches a Comprehensive Cancer Centre in Indore, Madhya Pradesh.
  • 2024: Acquisition of cancer centre at Indore.
  • 2025: Acquisition of cancer centre (M G Hospital) at Vizag.

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