Nephrocare Health Services LtdNSE:NEPHROPLUS
Current view Q4 2026
India's biggest dialysis chain is exporting its low-cost model to pricier overseas markets, lifting profit 75%. Saudi unit still loses money but is minor; too newly-listed to fully trust management.
Latest exchange filings last 5 · 5 after Q4 2026
- 14 Sep ’26Nephrocare subsidiary agreed to buy dialysis center assets in Philippines for PhP 67.2 million (₹10.25 crore) on Sept. 14, 2026. ↗
- 3 Sep ’26NRC approved grant of 4,01,362 ESOPs on September 3, 2026 at ₹230 exercise price. ↗
- 1 Sep ’26NPHSK LLP to acquire 100% of Dialysis Center Almaty LLP for KZT 561.66 million. ↗
- 31 Aug ’26Uzbekistan tax department raised ₹14.79 crore assessment and penalty on NCA for 2023-25; company plans appeal. ↗
- 19 Aug ’26Transcripts for the investors Earning call held on August 12, 2026. ↗
Exchange filings, with the company's own one-line summary, read off the same page as the figures. Screener publishes only the most recent few, so this is the last 5 — not everything filed since your note, and a quiet-looking list is not proof of a quiet quarter. A filing is marked new when it is dated after the end of the quarter your note covers. Not scored, and not a judgement — a routine repayment notice and a takeover sit in the same list.
AI concall report · Q4 2026
The full earnings-call read behind this view — what management promised, what they delivered, and the earning trigger.
Growth Q4 2026
| Metric | This year vs lastYoY · vs Q4 2025 | vs the quarter beforeQoQ, sequential · vs Q3 2026 | 3-year yearly average3Y CAGR · compounded | 5-year yearly average5Y CAGR · compounded |
|---|---|---|---|---|
| Sales | ▲ +21.5% | +2.3% | +31.7% | +28.4% |
| Operating profit | ▲ +0.0% | −16.4% | +65.2% | +42.6% |
| EPS | ▼ −97.5% | −5.6% | +25.7% | +17.6% |
| PAT | ▲ +20.0% | −6.3% | — | — |
Tinted rows drive the Tier. Tier = the weaker of YoY Sales and YoY PAT growth. Here the weaker is PAT at +20.0%, which is ≥ 20% → Tier 1.
QoQ is sequential, not a trend. For most Indian companies the March quarter is seasonally the largest, so a June-quarter fall against it is a calendar effect. Only the YoY column feeds the Tier.
Multibagger potential
Average58/100
Cheap, and growing fast. Profit per share grew 26% a year, while the price-tag on its earnings actually got smaller. That gap — real growth nobody has paid up for — is exactly what this score looks for.
₹674 → ₹1,348 needs the P/E at 48× — it is 48× today, and has ranged 2.7× to 3.9× over the last 5 years. The rest would come from earnings growing as they have.
What you pay for its profitlog scale · 5-year range
Tripling needs 72× — never traded above 3.9× in 5 years.
At ₹46 the price-tag on its earnings reaches the 3.2× it is being projected toward — the point where being cheap against that yardstick is used up.
Unpaid, but the growth quality is thin. Verify before acting.
How this is calculated
This is arithmetic, not a forecast — Return = ΔEPS × ΔMultiple. It says what would have to be true, not how likely it is, and "earnings keep growing at this rate for three more years" is the assumption doing the most work. This is a small-cap at ₹7,421 cr, so the odds of a re-rate are not fighting its own size.
Growth rate used: 25.7% — the weakest of
EPS / Sales / Op-profit from 3-year EPS CAGR. Latest quarter reads -97%. Price move is a proxy (distance from the 40-week EMA) until ret1y is stored.
How it compares with its rivals Healthcare · 6 of 17 listed
It earns 15% on its capital, sixth of 6, and it is the most expensive of those shown.
| Company | Price | P/E | Size | ROCE | Profitlast qtr | Saleslast qtr |
|---|---|---|---|---|---|---|
| Nephrocare Health Services | ₹742 | 87.7× | ₹7,461 Cr | 15.3% | +34.9% | +23.7% |
| Dr Lal Pathlabs | ₹1,922 | 57.4× | ₹32,261 Cr | 28.0% | +28.0% | +19.1% |
| Vijaya Diagnost. | ₹1,552 | 85.3× | ₹15,983 Cr | 20.5% | +37.6% | +22.8% |
| Metropolis Healt | ₹594 | 59.2× | ₹12,319 Cr | 17.8% | +25.8% | +16.6% |
| Thyrocare Tech. | ₹557 | 49.0× | ₹8,862 Cr | 35.4% | +34.1% | +24.3% |
| Suraksha Diagno. | ₹336 | 48.9× | ₹1,750 Cr | 17.3% | +38.4% | +20.8% |
Screener's own peer group, from the request already made for the industry P/E. It serves the industry's largest names by market cap, not companies of a similar size, so treat this as context rather than a like-for-like table; this company is always shown. On a phone the price, size and sales columns are dropped rather than pushed off the edge. Not part of the score.
Business quality to Jun 2026
| Are the margins widening? | broadly flat | operating margin 22% → 21% over 18 months |
|---|---|---|
| Did the profit turn into cash? | most of it arrived as cash | 116% last year, 93% over three · free cash flow ₹113 cr, positive in 2 of 5 years |
| Is the growth borrowed? | essentially debt-free | ₹80 cr — 0.07× its own equity (was 0.45×) |
| Is it being collected? | collection is steady | 116 days to collect, down 13 in a year · cash cycle 116 days |
| Who has been buying? | promoter stake unchanged on record | promoters 63.9% · FIIs 8.8% · DIIs 9.1% |
| What does it earn on its capital? | earns a fair return on its capital | ROCE 15.3% · ROE 8.8% |
Fetched from the filings, not typed — and deliberately not part of the score. These are the questions the score cannot ask: it reads growth, price and trend, so a company can score well while its profit never becomes cash. Weigh these beside the note, not against the number.
Screener's own checklist not mine, not the score
In its favour
- Company has reduced debt.
- Company is almost debt free.
- Company has delivered good profit growth of 162% CAGR over last 5 years
Against it
- Stock is trading at 6.66 times its book value
- Though the company is reporting repeated profits, it is not paying out dividend
- Company has a low return on equity of 10.2% over last 3 years.
- Company's cost of borrowing seems high
Generated by screener.in from a fixed checklist — not written by me and not an input to the score. It is here as a second machine opinion to weigh against the note; where it disagrees with the view above, the note is the considered one.