Announcement
Announcement under Regulation 30 (LODR)-Press Release / Media Release 29 Sep - Medanta allotted 10,560 sq. metre Ghaziabad land for ₹165.82 crore, planning a 350+ bedded hospital.
Source: Bse
Global Health Limited (MEDANTA)
Large CapPharma stocks · Large cap · NSE
Global Health Limited (Medanta) is a large private multi-specialty tertiary care provider in North and East India, with 3,665 operational beds across 6 hospitals as of March 31, 2026. Key specialties include cardiac science, neurosciences, oncology, and liver transplant. It operates under the 'Medanta' brand.
Data qualityFresh enough for analysisQuote updated 21 Oct, 03:31 pm ISTDetails
Quote21 Oct, 03:31 pm IST
Base fundamentals15 Oct 2026 · screener
Latest result30 Jul, 09:25 pm IST
Score22 Oct, 04:30 am IST · v4.3-runtime-valuation
Tags02 May 2026
Coverage13/14 · 93%
Valuation2026-07-20 · Rf 6.8% · Pharma P/E 33.5 (n=187)
Technical timing lens
Trend score and candlestick chart
59NeutralSMA20 -7.2% / mo · RSI oversold · MACD − · sector +5.1pp vs Nifty 500 (3M)
Stock trend: 34
Sector RS: 97
Sector 3M: -0.7% vs Nifty 500 -5.8%
Pharma FPI tailwindNot confirmed
Latest mapped FPI equity flow was not positive. View sector evidence
Technical chart
MEDANTAD candles · FIT view+5.5%Latest close ₹1232.40 on 2026-10-21
Bar
-0.9%
RSI
28
MACD hist
-10.53
52W pos
47%
2026-10-21O ₹1244.00H ₹1244.00L ₹1213.10C ₹1232.40Vol 1.4L sh
Up bar
Down bar
EMA 20
EMA 50
Volume + 20D avg
Result date
RSI(14)
MACD / signal
Market context
Relative performance and chart statistics
Adjusted completed-session prices, rebased to 100
MEDANTANifty PharmaNifty 500
- MEDANTA
- -8.2%
- Nifty 500
- -6.5%
- Nifty Pharma
- -2.0%
- Vs Nifty 500
- -1.7 pp
Chart stats
21 Oct 2026- From 52W high
- -20.2%
- 52W range position
- 47%
- ATR (14)
- 3.5%
- Volume vs 20D
- 0.64x
- Avg traded value
- ₹27.8 Cr
- 20D price channel
- ₹1,213.1 - ₹1,516
₹1,544
₹956 - ₹1,544
₹43
Latest completed session
20-session average
25.3% annualized volatility
Research snapshot
What the evidence says now
Mixed fundamentals, management evidence is still limited to a financial-only Trust Lite signal, price trend is neutral, and recent execution is mixed.
Suggested next step
Research, do not rush
The evidence is not strongly aligned. Compare peers and wait for a cleaner setup.
U-Score
Legacy · WATCHLIST45
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
Latest result
Bad2
Revenue +26.5% · PAT -1.3% YoY
Technical
Neutral59
Price trend and sector-relative-strength timing.
Valuation
Legacy model-32.4%
Legacy margin-of-safety estimate; the revised evidence label remains in shadow validation.
Trust
Limited evidence73
Financial-only signal; management claim evidence is not sufficient yet.
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Latest result
Quarter ended 30 Jun 2026
Bad · 2/100PAT -1% YoY · margin compression · Rev +26% YoY · +13% QoQ
Filed 30 Jul 2026
Open results browser →| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹1,304 Cr | +26.5% | +12.5% |
| EBITDA | ₹287 Cr | +16.2% | +17.6% |
| Operating margin | 22.0% | -200 bps | +100 bps |
| PAT | ₹157 Cr | -1.3% | +10.6% |
| PAT margin | 12.0% | -338 bps | -21 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Fundamentals
Valuation
- P/E
- 60.10
- P/B
- 8.71
- EV/EBITDA
- 29.07
- Market Cap
- 34416.00Cr
Profitability
- ROE
- 15.20%
- ROCE
- 17.40%
- ROA
- 9.35%
- Dividend Y
- 0.04%
Growth (CAGR)
- Revenue 5Y
- 25.00%
- EPS 5Y
- 81.00%
- Revenue 3Y
- 18.00%
- EPS 3Y
- 19.00%
Balance Sheet
- Debt/Equity
- 0.30
- Interest Coverage
- 10.64×
- Altman Z
- 8.51
- Book Value
- 147.00
Cash Flow
- FCF Yield
- —
- FCF Positive Y
- 4/5
- OCF
- 714.00 Cr
- EPS TTM
- 20.69
Shareholding
- Promoter Hold
- 33.00%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 55%
Financial History
Updated 22/10/2026
Revenue
₹ CrLatest: 1,304+12.5% vs prev
Net Profit
₹ CrLatest: 157+10.6% vs prev
ROE is shown only in the Annual view — quarterly equity data isn't published.
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Daily technical trend read
Mixed signalsSignals are conflicting — long-term trend down. RSI 28. Wait for confirmation.
- Price below SMA200 (long-term downtrend) — short-term bounces likely countertrend.
- SMA20 falling (~7.7% over last month) — short-term momentum negative.
- RSI(14) at 28 — oversold zone; bounce conditions.
- MACD below signal but histogram contracting — bearish momentum easing.
- 20% off 52W high · 29% above 52W low.
Mechanical read from the price + indicator series above. Not a recommendation — technical setups can reverse without warning, especially around earnings and macro events.
Nifty 500 leadership
Relative Strength & Trend Stage
62
RS percentile
Stage 1 Base / Transition
1M return
-18.3%
3M return
-8.2%
6M return
+10.9%
1Y return
-10.4%
RS 1D
+1
RS 20D
-16
Sector rank
#2
Industry rank
#10
Stage evidence
- Price is within 3.8% of the 30-week proxy.
- The 30-week proxy changed +2.6% over 20 sessions.
- The moving-average structure does not confirm Stage 2 or Stage 4.
50-DMA
price below
200-DMA
price below
Sector
leading
Industry
weakening
Relative-strength line vs Nifty 500 (base 100)
262 observations
21 Oct 2026Value 97.62+0.46%
RS vs Nifty 50098
Valuation & peers
U-Score 45 · legacy U-Score band WATCHLIST · valuation evidence and comparable companies
Valuation & peers
U-Score 45 · legacy U-Score band WATCHLIST · valuation evidence and comparable companies
Financial Turnaround
Fundamental score breakdown
U band · WATCHLISTValuation0/30
Growth17/25
Quality11/20
Balance Sheet8/15
Cash Flow4/10
Piotroski
8/9 (+5)
Penalties
0
Raw sum
45
Why this score?
Top U-Score contributors and drags from the latest stored fundamentals.
45/100 · legacy band WATCHLIST
Positive drivers
- Piotroski is strong at 8/9.
- Growth contributes 17/25 to the score.
- Quality contributes 11/20 to the score.
Main drags
- Fair-value margin of safety is negative at -32.4%.
- Valuation is weaker at 0/30; verify the latest quarterly trend.
- Cash flow is weaker at 4/10; verify the latest quarterly trend.
Sector valuation model
Healthcare valuation: PE/EVEBITDA with regulatory and pipeline checks
Healthcare valuation needs both earnings quality and regulatory/pipeline context.
Primary lens
PE and EV/EBITDA adjusted for product mix and R&D/pipeline quality.
Secondary checks
USFDA risk, launch pipeline, margin trend, domestic vs export mix.
Main risk check
Regulatory setbacks or one-off product cycles can distort valuation.
PE
60.1
PB
8.7
EV/EBITDA
29.1
ROE
15.2%
ROCE
17.4%
FCF Yield
—
Debt/Equity
0.3
MoS
-32.4%
Score movement
Stored run vs live recompute
This shows the stored score trend when snapshots exist, and also compares the latest stored nightly score with a live recompute from current fundamentals and price.
Stored run: 22 Oct 2026
v4.3-runtime-valuation
Final score
45
Previous: 45
Legacy U-Score band
WATCHLIST
Previous: WATCHLIST
Margin of safety
-32.4%
Previous: -32.4%
Score history
12 stored score snapshots. Latest stored move: +0 points.
22 Oct 2026
v4.3-runtime-valuation
45
45
45
45
45
45
45
45
45
45
45
45
Factor attribution
No pillar movement versus the latest stored run. Historical score trend will appear after snapshot storage is enabled.
Modelled fair value
Graham Number
₹261.6
-371.1% MoS
Growth-justified P/E
45.0
Growth-justified Value
₹931.05
-32.4% MoS
PEG
1.07
Comparable companies
Peers
Business-comparable peers in Pharma — ranked by industry, sub-sector, theme-tag overlap, market cap, and U-Score similarity. Green cells mark the best available peer metric in this table.
Ticker
Name
Why peer
Score
PE
ROE
MoS
Verdict
KIMS
Large
Krishna Institute of Medical Sciences Limited
Healthcare Services
match 164
21
140.0
11.3%
-1122%
OVERVALUED
NH
Small
Narayana Hrudayalaya Ltd.
Healthcare Services
match 161
49
40.8
20.5%
+3%
FAIR VALUE
FORTIS
Mid
Fortis Healthcare Limited
Healthcare Services
match 155
36
52.2
11.2%
-17%
WATCHLIST
AGARWALEYE
Micro
Dr. Agarwal's Health Care Limited
Healthcare Services
match 155
30
99.3
6.0%
-120%
OVERVALUED
PARKHOSPS
Micro
Park Medi World Limited
Healthcare Services
match 155
44
34.6
16.8%
+24%
WATCHLIST
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business and thesis
Where growth can come from, and what can break the case
Thesis intactReviewed 2026-06-03T18:12:10.129Z
Management commentary snapshot
FY26 revenue grew 19.6% YoY to INR 45,089mn, with EBITDA ex-Noida up 18.6% YoY. Q4 FY26 saw 25.3% YoY revenue growth. Noida hospital, inaugurated Nov 2025, reported INR 906mn revenue and INR 783mn EBITDA loss in FY26, but Q4 losses declined sequentially.
The company delivered strong top-line growth and robust performance from developing hospitals (ex-Noida). While Noida's initial losses impacted consolidated margins, the sequential decline in Q4 losses is positive. Significant capacity expansion and a large capex plan indicate a strong growth trajectory, supporting the long-term thesis.
Growth engines
Capacity Expansion
Total 623 beds added during FY26, representing 20.5% bed growth. Planned bed capacity addition to drive sustainable growth.
Attracting Best Talent
550+ doctors on-boarded in FY26 across Medanta network, including 249 at Noida facility, strengthening clinical capability.
Continuity of Care Network
Expansion of Medanta Lab Retail (10 labs, 300+ collection centres), Medanta Pharmacy Retail (12 retail pharmacies), and Medanta Clinics (6 mediclinic, 90+ RWA clinics).
New Project Pipeline
Board approved 400-bed hospital in Guwahati and 400-bed hospital in Varanasi. Takeover of 80-bed Indore Cancer Unit announced.
Capacity and execution
Noida Hospital
Inaugurated in September 2025, 382 beds operational (out of 550 planned) with 14 OTs by end of FY26. 54 beds added in Q4 FY26.
Patna Hospital
Total 131 beds added in FY26, including 32 beds in Q4 FY26.
Ranchi New Unit
110-bedded newly constructed hospital operationalized in July 2025.
Guwahati, Assam
Board approved 400-bed hospital project. Land purchase completed in September 2025. All regulatory approvals received.
Tailwinds
Robust Patient Volume Growth
In-patient count increased by 16.0% and Out-patient count increased by 18.7% y-o-y in FY26, indicating strong demand.
Strong Growth in Developing Hospitals
Developing hospitals ex-Noida reported revenue growth of 29.2% y-o-y and EBITDA growth of 35.2% y-o-y in FY26, with margins improving to 31.5%.
Increasing International Patient Revenue
International Patients Revenue increased by 33.2% y-o-y in FY26, contributing to overall revenue growth.
Headwinds
Initial Losses from New Facilities
Noida facility resulted in an EBITDA loss of INR 783 million during FY26, impacting consolidated profitability.
Significant Capex Plan
Total capex of over ~INR 45,000 million planned for the next 5 years, requiring substantial funding and execution capabilities.
Risk radar
Execution Risk for New Projects
Multiple large-scale projects (Mumbai, Delhi, Guwahati, Varanasi) are in various stages of planning/construction, posing risks related to timelines, costs, and regulatory approvals.
Ramp-up and Profitability of New Hospitals
New facilities like Noida require time to achieve optimal occupancy and profitability, potentially diluting consolidated margins in the short to medium term.
Rising Employee Benefit Expenses
Employee benefits expense increased by 29.8% y-o-y in FY26, outpacing revenue growth and impacting profitability.
Management accountability
What management said, and what results must prove
Issuer guidance and extracted claims are tracked against later reported outcomes. Treat these as management statements, not IndiaPulse forecasts.
Analyst reading lens
Compare BOTH
YoY comparison is crucial for assessing annual growth and quarterly performance against prior periods. QoQ comparison is vital for tracking sequential momentum, especially for new facilities like Noida, where operational ramp-up and declining losses are key.
Sector KPIs management disclosed
Total Beds
Total beds grew by 20.5% y-o-y to 3,665 in FY26.
Occupancy Rate
Average occupied bed days increased by 11.3% y-o-y, representing an occupancy of ~62% on increased bed capacity in FY26. Q4 FY26 occupancy was ~61% consolidated, ~64% excluding Noida.
ARPOB (Average Revenue Per Occupied Bed)
ARPOB grew by 6.1% y-o-y to INR 66,550 in FY26. Q4 FY26 ARPOB was INR 66,687, up 4.8% y-o-y.
In-patient Volumes
In-patient count increased by 16.0% y-o-y to 202,112 in FY26. Q4 FY26 in-patient count increased by 23.0% y-o-y to 52,762.
Management forward view
Strengthening Core and Building Foundation
Management states the company is 'strengthening the core and building strong foundation for long term sustainable growth'.
Well Capitalized for Expansion
Management believes the 'well capitalized balance sheet' will drive future expansion plans and growth.
Delivering Sustainable Growth
Management asserts Medanta is 'well placed to deliver sustainable growth while maintaining its core values of patient centric care and clinical leadership and quality'.
Thesis monitor
Numbers and claims to verify in the next filings
| Checkpoint | Current evidence | What to verify next |
|---|---|---|
| Noida Hospital EBITDA Loss | INR 236 million (Q4 FY26 loss), down from INR 320 million (Q3 FY26 loss). | Continued sequential decline in losses and clear path to profitability as occupancy and ARPOB improve. |
| Consolidated Occupancy Rate | ~61% (Q4 FY26 consolidated), ~64% (Q4 FY26 ex-Noida). | Improvement in consolidated occupancy as new beds ramp up and mature hospitals maintain high utilization. |
| Capex Execution and Funding | INR 9,400 million incurred in FY26. ~INR 45,000 million planned over next 5 years. | Timely completion of new projects, adherence to budget, and effective funding mix of debt and internal accruals. |
| Developing Hospitals EBITDA Margins | 31.5% (FY26 ex-Noida). | Sustained improvement in margins for developing hospitals, indicating efficient operational scaling. |
Verification checkpoints are IndiaPulse research interpretation, not investment advice.
Trust Score
73Limited evidence · low confidenceTrust Lite
Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.
Limited evidence: Claim history is still being built. It ranks around the 72nd percentile of the scored universe and 63rd percentile within Pharma. No major sub-score weakness stands out.
This is a financial-behaviour screen, not a claim-tested management reliability verdict.
Computed 22 Oct 2026
management-trust-v1
95 docs text-extracted · 29 concalls text-extracted
Score band
Limited evidence
Financial behaviour is scored, but management claims do not yet have enough outcome checks.
Relative rank
72nd percentile
overall median 67 · Pharma: 63rd pctile, median 70 · Large: 51st pctile, median 73
Evidence depth
Financial-only
95 documents have extracted text, but claim history is not strong enough yet.
Claim delivery
Outcome history still building
0 claims extracted · No contradicted claim yet
How to read this Trust Score
Limited evidence · low confidenceWhat it measures
Reliability of management and financial delivery, using financial behaviour only.
Confidence
Treat this as an early read until more concalls and outcomes are matched.
Investor use
Acceptable, but check the weakest sub-score before increasing exposure.
Read Trust alongside U-Score, result consistency, and technical trend. A cheap stock with weak Trust needs a larger margin of safety; a high Trust score does not make an expensive stock attractive by itself.
Forensic breakdown
Read low sub-scores as due-diligence warnings, not automatic sell signals.
Promoter
78
strong · holding, pledge, alignment
Cash flow
67
acceptable · profit to cash conversion
Balance sheet
89
strong · leverage and solvency
Discipline
68
acceptable · capital discipline
Results
60
acceptable · quarterly consistency
Trust positives
- ▸Promoter pledge is zero.
- ▸4 years of positive FCF.
- ▸4/4 latest quarters had positive YoY revenue growth.
Trust risks
- ▸1 of the latest 4 quarters had PAT decline worse than 25% YoY.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Continue researching Global Health Limited
Important announcements & filings
Latest exchange and company disclosures found within the past two years.
Open source ↗
Announcement
Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPS 22 Sep - Intimation under Regulation 30 of Listing Regulations regarding allotment of shares.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 11 Sep - Announcement under SEBI Listing Regulations regarding schedule of Institutional Investor meet.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 11 Sep - Announcement under SEBI Listing Regulations regarding schedule of Institutional Investor meet.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 10 Sep - Announcement under SEBI Listing Regulations regarding schedule of Institutional Investor meet.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 9 Sep - Announcement under SEBI Listing Regulations regarding schedule of Institutional Investor meet.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 3 Sep - Global Health schedules one-on-one investor meetings with Polar Capital and Chikara Investments on September 10 and 14, 2026.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 22 Aug - Global Health will hold one-to-one physical investor meetings with Motilal Oswal on August 26 and 27, 2026.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 22 Aug - Post Dispatch Advertisement for the 22nd Annual General Meeting for the Financial Year 2025-26.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 22 Aug - Global Health will hold one-on-one physical investor meetings with Motilal Oswal on August 26 and 27, 2026.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 12 Aug - Copy of Pre-advertisement of Annual General Meeting 2026.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 31 Jul - Newspaper publication under Regulation 30 and 47 of SEBI Listing Regulations.
Source: Bse
All information is for study purposes only. For investment decisions, consult your financial advisor. See Playbook for methodology.