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Manipal Health Enterprises Ltd (MANIPALHOS)
Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 544847 NSE: MANIPALHOS Hospital & Healthcare Services | Small Cap | Manipal Health Enter Share Price
₹650.05 -16.65 (-2.50%)
As on 06-Aug'26 13:01
Manipal Health Enterprises Ltd (MANIPALHOS)
Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 544847 NSE: MANIPALHOS Hospital & Healthcare Services | Small Cap | Manipal Health Enter Share Price
₹650.05 -16.65 (-2.50%)
As on 06-Aug'26 13:01
Key Metrics
Valuation Multiples
Market Cap
₹87,696 Cr.
Current Price
₹650.1
52-Week Low / High
₹635 / 676
TTM EPS
₹4.1
TTM Sales
₹3,104 Cr.
Book Value per Share
₹40.8
P/E Ratio
163.83
Industry PE
103
Price to Book (P/B)
16.34
Price to Sales (P/S)
28.25
EV/EBITDA
94.41
Dividend Yield
0%
Profitability Efficiency
Return on Equity (ROE)
11.79%
Underperforms industry median
Return on Capital Employed (ROCE)
13.02%
Underperforms industry median
Return on Assets (ROA)
7.34%
Operating Profit Margin
27.2%
Net Profit Margin
17.24%
Gross Profit Margin
25.7%
Growth Momentum
1-yr vs 3-yr growth
1-yr vs 3-yr growth
Sales Growth (1 Year)
Improving versus 3-year growth rate
14.67%
Operating Profit Growth (1 Year)
Slowing versus 3-year growth rate
8.24%
Net Profit Growth (1 Year)
Improving versus 3-year growth rate
59.14%
Asset Quality
Promoter Holding
%
Pledged shares (%) of Promoter's holding (%)
%
Reserves
₹5,104 Cr.
Equity
₹263.1 Cr.
Face Value
₹2
All Time Low / High
- / -
Check Before You Invest
Quality
Somewhat GoodValuation
OvervaluedCheck Valuation charts
Price Trend
Weak
Is Manipal Health Enterprises Ltd a good quality company?
Manipal Health Enterprises Ltd is a quality company, based on a 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 Manipal Health Enterprises Ltd performance compare with that of its Peers?
Revenue growth of Manipal Health Enterprises Ltd vs industry peers?
Manipal Health Enterprises Ltd revenue CAGR is 13.17%, compared to the industry median CAGR of 3.54%, indicating faster growth and gaining its market share.
Promoter shareholding and pledge status of Manipal Health Enterprises Ltd?
Promoters hold % of the Manipal Health Enterprises Ltd, with % of their stake pledged, indicating no pledge risk.
Stock return of Manipal Health Enterprises Ltd over the last decade?
Over the last - year(s), the stock has delivered a CAGR of N/A% based on the current price.
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 endData adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.
What is a Financial Track Record? How to read this chart in order to understand the data present here?
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.
Manipal Health 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'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % ⓘ | 8.8% | 6.4% | 4.7% | 6.7% | 10.2% | 5.4% | 14.5% | 10.1% | 13.7% | 13% | - |
| Value Creation Index ⓘ | -0.2 | -0.4 | -0.6 | -0.4 | -0.1 | -0.5 | 0.3 | -0.1 | 0.2 | 0.2 | - |
Growth Parameters ⓘ |
|||||||||||
| Sales ⓘ | 1,093 | 1,242 | 1,297 | 1,436 | 1,672 | 1,407 | 2,120 | 2,408 | 2,707 | 3,104 | 3,104 |
| Sales YoY Gr. | - | 13.6% | 4.4% | 10.7% | 16.4% | -15.9% | 50.7% | 13.6% | 12.4% | 14.7% | - |
| Adj EPS ⓘ | 0.7 | 0.1 | 0.1 | 0.2 | 1.2 | 0.4 | 2.4 | 2.6 | 3.4 | 23.1 | 4.1 |
| YoY Gr. | - | -81.8% | 16.7% | 35.7% | 515.8% | -63.3% | 448.8% | 11.9% | 27.3% | 586.3% | - |
| BVPS (₹) ⓘ | 17 | 15.9 | 16 | 16.3 | 17.2 | 17.1 | 27.8 | 29.6 | 34.4 | 224.1 | 40.8 |
| Adj Net Profit ⓘ | 59.8 | 12.4 | 14.9 | 19.2 | 120 | 43.9 | 267 | 299 | 381 | 533 | 535 |
| Cash Flow from Ops. ⓘ | 110 | 231 | 229 | 321 | 416 | 390 | 375 | 616 | 624 | 644 | - |
| Debt/CF from Ops. ⓘ | 5.6 | 4.7 | 5 | 3.6 | 2.7 | 2.8 | 3.2 | 2.1 | 2.1 | 2.8 | - |
CAGR ⓘ
| 9 Years | 5 Years | 3 Years | 1 Years | |||||
|---|---|---|---|---|---|---|---|---|
| Sales ⓘ | 12.3% | 13.2% | 13.6% | 14.7% | ||||
| Adj EPS ⓘ | 48.4% | 81.5% | 113.8% | 586.3% | ||||
| BVPSⓘ | 33.2% | 67% | 100.4% | 552.2% | ||||
| Share Price | - | - | - | - | ||||
Key Financial Parameters ⓘ
| Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity % ⓘ | 4.8 | 0.8 | 0.9 | 1.1 | 6.9 | 2.5 | 10.8 | 9.1 | 10.5 | 11.7 | 3.1 |
| Op. Profit Mgn % ⓘ | 16.4 | 17.1 | 17.9 | 20 | 24.1 | 21.2 | 25.3 | 28.3 | 28.9 | 27.2 | NAN |
| Net Profit Mgn % ⓘ | 5.5 | 1 | 1.1 | 1.3 | 7.2 | 3.1 | 12.6 | 12.4 | 14.1 | 17.2 | 17.3 |
| Debt to Equity ⓘ | 0.4 | 0.7 | 0.7 | 0.7 | 0.6 | 0.6 | 0.4 | 0.4 | 0.3 | 0.4 | - |
| Working Cap Days ⓘ | 132 | 118 | 124 | 139 | 137 | 170 | 131 | 101 | 75 | 74 | 0 |
| Cash Conv. Cycle ⓘ | -4 | 5 | -12 | -33 | -77 | -128 | -97 | -118 | -71 | -53 | 0 |
Valuation of Manipal Health Enter - Standalone
Analyst's Notes
No data found!
Management X-Ray
Shareholding Pattern
No Data To Display
Promoter's Holding & Share Pledging
Financials
| PARTICULARS | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 1,093 | 1,242 | 1,297 | 1,436 | 1,672 | 1,407 | 2,120 | 2,408 | 2,707 | 3,104 |
| Operating Expenses ⓘ + | 915 | 1,030 | 1,065 | 1,150 | 1,271 | 1,108 | 1,648 | 1,736 | 1,926 | 2,259 |
| Operating Profit ⓘ | 179 | 212 | 233 | 287 | 401 | 299 | 471 | 673 | 781 | 845 |
| Operating Profit Margin (%) | 16.3% | 17.1% | 17.9% | 20.0% | 24.0% | 21.2% | 22.2% | 27.9% | 28.9% | 27.2% |
| Other Income ⓘ + | 66 | 55 | 41 | 43 | 51 | 72 | 117 | 65 | 94 | 101 |
| Interest ⓘ | 66 | 136 | 136 | 132 | 157 | 151 | 185 | 172 | 168 | 149 |
| Depreciation ⓘ | 86 | 111 | 121 | 133 | 123 | 128 | 125 | 139 | 139 | 149 |
| Profit Before Tax ⓘ | 86 | 20 | -5 | 58 | 137 | 4 | 336 | 285 | 505 | 649 |
| Tax ⓘ | 31 | -14 | -21 | 29 | 42 | 20 | 72 | 91 | 169 | 113 |
| Profit After Tax | 55 | 34 | 16 | 29 | 94 | -16 | 264 | 194 | 336 | 535 |
| PAT Margin (%) | 5.1% | 2.7% | 1.3% | 2.0% | 5.6% | -1.2% | 12.4% | 8.1% | 12.4% | 17.2% |
| Adjusted EPS (₹) | 0.6 | 0.3 | 0.2 | 0.3 | 0.9 | -0.2 | 2.3 | 1.7 | 3.0 | 23.2 |
| Dividend Payout Ratio (%) | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| PARTICULARS | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
Equity and Liabilities | |||||||||||
| Shareholders Fund + | 1,539 | 1,635 | 1,652 | 1,681 | 1,775 | 1,759 | 3,159 | 3,354 | 3,898 | 5,181 | |
| Debt + | 570 | 1,068 | 1,115 | 1,122 | 1,062 | 1,073 | 1,182 | 1,281 | 1,161 | 1,672 | |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | |
| Trade Payables | 74 | 108 | 171 | 238 | 261 | 358 | 378 | 457 | 433 | 412 | |
| Others Liabilities ⓘ | 246 | 209 | 229 | 266 | 650 | 559 | 1,019 | 537 | 724 | 1,105 | |
| Total Liabilities ⓘ | 2,429 | 3,019 | 3,165 | 3,308 | 3,748 | 3,749 | 5,738 | 5,629 | 6,215 | 8,369 | |
Fixed Assets | |||||||||||
| Net Fixed Assets ⓘ + | 1,308 | 1,676 | 1,665 | 1,634 | 1,949 | 1,573 | 1,541 | 1,544 | 1,589 | 1,652 | |
| CWIP ⓘ | 49 | 42 | 37 | 52 | 85 | 381 | 388 | 374 | 378 | 1,306 | |
| Investments ⓘ | 646 | 893 | 954 | 964 | 1,030 | 1,115 | 2,937 | 3,202 | 3,391 | 4,636 | |
| Inventories | 31 | 33 | 26 | 26 | 27 | 14 | 37 | 16 | 31 | 28 | |
| Trade Receivables | 94 | 107 | 108 | 118 | 96 | 85 | 158 | 128 | 133 | 191 | |
| Cash Equivalents | 8 | 20 | 19 | 54 | 38 | 16 | 20 | 29 | 228 | 150 | |
| Others Assets ⓘ | 292 | 249 | 356 | 460 | 524 | 566 | 655 | 337 | 466 | 408 | |
| Total Assets ⓘ | 2,429 | 3,019 | 3,165 | 3,308 | 3,748 | 3,749 | 5,738 | 5,629 | 6,215 | 8,369 | |
| PARTICULARS | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash Flow From Operating Activity ⓘ + | 110 | 231 | 229 | 321 | 416 | 390 | 375 | 616 | 624 | 644 |
| Cash Flow From Investing Activity ⓘ + | -181 | -382 | -165 | -178 | -252 | -213 | -1,465 | -511 | -405 | -1,852 |
| Cash Flow From Financing Activity ⓘ + | 57 | 197 | -38 | -107 | -178 | -198 | 1,095 | -97 | -19 | 1,107 |
| Net Cash Flow ⓘ | -14 | 47 | 26 | 36 | -14 | -21 | 5 | 8 | 199 | -100 |
| PARTICULARS | Mar'16 | Mar'17 | Mar'18 | Mar'19 | Mar'20 | Mar'21 | Mar'22 | Mar'23 | Mar'24 | Mar'25 |
|---|---|---|---|---|---|---|---|---|---|---|
| Ratios | ||||||||||
| ROE (%) | 4.41 | 2.13 | 0.99 | 1.75 | 5.46 | -0.93 | 10.72 | 5.97 | 9.28 | 11.79 |
| ROCE (%) | 8.79 | 6.39 | 4.74 | 6.74 | 10.2 | 5.38 | 14.48 | 10.13 | 13.65 | 13.02 |
| Asset Turnover Ratio | 0.56 | 0.46 | 0.42 | 0.44 | 0.47 | 0.38 | 0.45 | 0.42 | 0.46 | 0.43 |
| PAT to CFO Conversion(x) | 2 | 6.79 | 14.31 | 11.07 | 4.43 | N/A | 1.42 | 3.18 | 1.86 | 1.2 |
| Working Capital Days | ||||||||||
| Receivable Days | 24.80 | 29.50 | 30.30 | 28.80 | 23.40 | 23.50 | 20.90 | 21.70 | 17.60 | 19.10 |
| Inventory Days | 9.10 | 9.30 | 8.30 | 6.70 | 5.80 | 5.30 | 4.40 | 4.10 | 3.20 | 3.50 |
| Payable Days | 85.60 | 113.40 | 169.40 | 232.30 | 254.70 | 354.80 | 238.40 | 304.80 | 305.30 | 253.80 |
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Manipal Health Enterprises Ltd FAQs
The current trading price of Manipal Health Enter on 06-Aug-2026 13:01 is ₹650.0.
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 05-Aug-2026 the market cap of Manipal Health Enter stood at ₹87,696.2 Cr
The latest P/E ratio of Manipal Health Enter as of 05-Aug-2026 is 163.8.
The latest P/B ratio of Manipal Health Enter as of 05-Aug-2026 is 16.34.
The 52-week high of Manipal Health Enter is ₹676.0 and the 52-week low is ₹634.5.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Manipal Health Enter is ₹3,104 ( Cr.) .
Past 10 year's financial track record analysis by Moneyworks4me indicates that Manipal Health Enterprises Ltd is a average quality company.
The key valuation ratios of Manipal Health 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 Weak which suggest that the price of Manipal Health Enterprises Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.
About Manipal Health Enterprises Ltd
Manipal Health Enterprises was originally incorporated in Bengaluru, Karnataka as ‘Manipal Health Enterprises Private Limited’ as a private limited company on February 15, 2010. Subsequently, the company was converted to a public limited company, and the name of the company was changed to Manipal Health Enterprises Limited pursuant to resolutions passed by the Board and the Shareholders on November 8, 2025 and November 20, 2025, respectively.
The company operates a pan India network of multispecialty hospitals delivering a comprehensive range of care services - from outpatient services to complex tertiary and quaternary interventions. It offers clinical services across several specialties, with a focus on tertiary and quaternary care, particularly in cardiac sciences, oncology, neurosciences, gastro sciences, orthopedics, and renal sciences (CONGO R). These specialties involve high acuity cases or cases that are severe, complex and require advanced interventions and high levels of care.
Business area of the company
The company is engaged in the business of running/managing hospitals, and providing healthcare services. It operates through various Hospitals/clinics providing Healthcare services and diagnostic centres, primarily in India.
Services of the company
- Cardiac sciences
- Oncology
- Neuro sciences
- Gastro sciences
- Orthopedics
- Renal sciences
- Total CONGO-R
- Internal medicine
- General surgery
- Obstetrics and Gynecology
- Pediatrics
- Critical care
- Pulmonology
- Ears, nose and throat
Awards, accreditations and recognition
- 2017: The company was awarded, ‘Company with Great Managers’ at the People Business - The Great Manager Awards by the Economic Times.
- 2019: The company (along with Dr. H Sudarshan Ballal) entered the ‘Guinness World Records’ for the largest kidney disease awareness lesson delivered.
- 2019: The company entered the ‘Guinness World Records’ for the most urinalysis tests done in 8 hours.
- 2022: The company was awarded, ‘Best Hospital Chain - National’ at the Economic Times Healthcare Awards, 2022.
- 2022: The company entered the ‘Guinness World Records’ for the most pledges received to learn cardiopulmonary resuscitation in 24 hours.
- 2023: The company was awarded ‘Healthcare Company of the Year’ at the VCCircle Awards 2023.
- 2024: The company entered the ‘Guinness World Records’ for the most people in a Cardiopulmonary Resuscitation (CPR) relay.
- 2025: Manipal Hospital Whitefield, Bengaluru, Karnataka was awarded ‘Best Multi-speciality Hospitals - Emerging Hospitals’ at The Week Health Summit, 2025.
- 2025: Manipal Hospital Bhubaneshwar, Orissa was awarded ‘Best Multi-speciality Hospital (Private)’ at The Week Health Summit, 2025.
- 2025: Manipal Hospital Old Airport Road, has been rated the number one hospital in Bengaluru (Karnataka) for 20 years between 2005 to 2025 by The Week-Hansa Survey (except in 2017 where it was the second-best hospital).
- 2026: MHPL, the subsidiary was awarded ‘Care Delivery (Hospitals/Diagnostics) Company of the Year’ at the VCCircle Awards 2026.
- 2026: The company was awarded ‘Excellence in Healthcare Industry Leadership’ at the Healthcare Institutional Excellence Awards, 2026.
- 2026: The company was awarded ‘Integrated Hospital/Clinic Network of the Year’ at The Economic Times Maharashtra Business Awards, 2026.
History and milestones
- 1991: Manipal Hospital Old Airport Road, Bengaluru, Karnataka, commenced operations.
- 1993: Expanded presence in Bengaluru through Manipal North Side Hospital, Bengaluru, Karnataka.
- 1994 Expanded presence to Goa through Manipal Hospital Goa.
- 1997: KMC Hospital, Mangalore (formerly known as Kasturba Medical College Hospital) commenced operations.
- 2006: Manipal Hospital Vijayawada commenced operations.
- 2007: Expanded presence in Tamil Nadu through Manipal Hospital, Salem.
- 2008: Manipal Hospital Old Airport Road, Bengaluru, Karnataka received certificate of accreditation from National Association Board for Hospitals and Healthcare Providers.
- 2008: Expanded presence in Bengaluru through Malathi Manipal Hospital, Bengaluru, Karnataka.
- 2014: Expanded presence in Rajasthan through Manipal Hospital Jaipur, Rajasthan.
- 2016: Manipal Hospital Whitefield, Bengaluru, Karnataka commenced operations.
- 2018: HCMCT Manipal Hospital Dwarka, New Delhi commenced operations.
- 2021: The company completed the acquisition of MHPL (formerly known as Columbia Asia Hospitals Private Limited).
- 2021: The company completed the acquisition of MHBPL (formerly known as Vikram Hospital (Bengaluru) Private Limited).
- 2022: Manipal Hospital Pune Baner commenced operations.
- 2023: The company completed the acquisition of MHEIPL (formerly known as AMRI Hospitals Limited).
- 2024: The company completed the acquisition of MHSPL (formerly known as Medica Synergie Private Limited).
- 2025: The company acquired the Sahyadri Group by way of acquisition of majority shareholding of SHPL.
- 2025: Manipal Hospital Kanakapura Road commenced operations.
- 2025: Manipal Hospital Yelahanka commenced operations.
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