Announcement
Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPS 14 Oct - Allotment of 9,516 equity shares under the Metropolis-Restrictive Stock Unit Plan, 2020
Source: Bse
Metropolis Healthcare Limited (METROPOLIS)
Micro CapPharma stocks · Micro cap · NSE
Metropolis Healthcare Limited is a leading Indian diagnostics company operating a national network of 209+ laboratories and 5,000+ collection touchpoints across 750+ towns in India and five international markets. It provides comprehensive pathology and specialized testing services to both B2C and B2B clients.
Data qualityFresh enough for analysisQuote updated 22 Oct, 05:50 pm ISTDetails
Quote22 Oct, 05:50 pm IST
Base fundamentals22 Oct 2026 · screener
Latest result05 Aug, 12:04 am IST
Score22 Oct, 05:17 am IST · v4.3-runtime-valuation
Tags04 Oct 2026
Coverage14/14 · 100%
Valuation2026-07-20 · Rf 6.8% · Pharma P/E 33.5 (n=187)
Technical timing lens
Trend score and candlestick chart
67BullishSMA20 -6.8% / mo · MACD − · sector +5.4pp vs Nifty 500 (3M)
Stock trend: 46
Sector RS: 99
Sector 3M: -0.3% vs Nifty 500 -5.6%
Pharma FPI tailwindNot confirmed
Latest mapped FPI equity flow was not positive. View sector evidence
Technical chart
METROPOLISD candles · FIT view+10.3%Latest close ₹530.60 on 2026-10-22
Bar
+0.8%
RSI
42
MACD hist
-0.76
52W pos
60%
2026-10-22O ₹526.45H ₹535.95L ₹511.60C ₹530.60Vol 3.0L 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
METROPOLISNifty PharmaNifty 500
- METROPOLIS
- -6.9%
- Nifty 500
- -6.2%
- Nifty Pharma
- -0.6%
- Vs Nifty 500
- -0.7 pp
Chart stats
22 Oct 2026- From 52W high
- -12.9%
- 52W range position
- 60%
- ATR (14)
- 3.9%
- Volume vs 20D
- 1.31x
- Avg traded value
- ₹13.1 Cr
- 20D price channel
- ₹511.6 - ₹595.5
₹609.1
₹412.3 - ₹609.1
₹20.8
Latest completed session
20-session average
28.0% annualized volatility
Research snapshot
What the evidence says now
Weak fundamentals, while price trend supports entry. This looks more like momentum/speculation than a clean fundamental investment setup.
Weak U-Score but strong trend: momentum may be ahead of fundamentals.
Suggested next step
Momentum only
Trend is strong but fundamentals do not support a clean investment thesis.
U-Score
Legacy · WATCHLIST39
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
Latest result
Excellent90
Revenue +16.6% · PAT +26.7% YoY
Technical
Bullish67
Price trend and sector-relative-strength timing.
Valuation
Legacy model-576.5%
Legacy margin-of-safety estimate; the revised evidence label remains in shadow validation.
Trust
Limited evidence79
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
Excellent · 90/100Rev +17% YoY · PAT +27% YoY · margin expansion · +6% QoQ · operating leverage
Filed 04 Aug 2026
Open results browser →| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹450 Cr | +16.6% | +5.9% |
| EBITDA | ₹111 Cr | +23.3% | +2.8% |
| Operating margin | 25.0% | +200 bps | +0 bps |
| PAT | ₹57 Cr | +26.7% | +11.8% |
| PAT margin | 12.7% | +101 bps | +67 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Fundamentals
Valuation
- P/E
- 53.20
- P/B
- 7.32
- EV/EBITDA
- 20.29
- Market Cap
- 11070.00Cr
Profitability
- ROE
- 13.60%
- ROCE
- 17.80%
- ROA
- 9.53%
- Dividend Y
- 0.37%
Growth (CAGR)
- Revenue 5Y
- 11.00%
- EPS 5Y
- 1.00%
- Revenue 3Y
- 13.00%
- EPS 3Y
- 11.00%
Balance Sheet
- Debt/Equity
- 0.15
- Interest Coverage
- 16.23×
- Altman Z
- 8.68
- Book Value
- 73.00
Cash Flow
- FCF Yield
- 1.18%
- FCF Positive Y
- 11/5
- OCF
- 351.00 Cr
- EPS TTM
- 9.73
Shareholding
- Promoter Hold
- 47.82%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 62%
Financial History
Updated 22/10/2026
Revenue
₹ CrLatest: 450+5.9% vs prev
Net Profit
₹ CrLatest: 57.0+11.8% 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 uptrend intact. RSI 42. Wait for confirmation.
- Price above SMA200 (long-term uptrend) but mid-term MAs not aligned.
- SMA20 falling (~7.3% over last month) — short-term momentum negative.
- RSI(14) at 42 — rising, no extreme reading.
- MACD below signal but histogram contracting — bearish momentum easing.
- 13% 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
74
RS percentile
Stage 1 Base / Transition
1M return
-10.4%
3M return
-6.9%
6M return
+13.6%
1Y return
+8.1%
RS 1D
0
RS 20D
+3
Sector rank
#1
Industry rank
#47
Stage evidence
- Price is within 0.9% of the 30-week proxy.
- The 30-week proxy changed +2.2% over 20 sessions.
- The moving-average structure does not confirm Stage 2 or Stage 4.
50-DMA
price below
200-DMA
price above
Sector
leading
Industry
weakening
Relative-strength line vs Nifty 500 (base 100)
263 observations
22 Oct 2026Value 110.04+0.08%
RS vs Nifty 500110
Valuation & peers
U-Score 39 · legacy U-Score band WATCHLIST · valuation evidence and comparable companies
Valuation & peers
U-Score 39 · legacy U-Score band WATCHLIST · valuation evidence and comparable companies
WATCHLIST
Fundamental score breakdown
U band · WATCHLISTValuation0/30
Growth8/25
Quality10/20
Balance Sheet9/15
Cash Flow7/10
Piotroski
8/9 (+5)
Penalties
0
Raw sum
39
Why this score?
Top U-Score contributors and drags from the latest stored fundamentals.
39/100 · legacy band WATCHLIST
Positive drivers
- Piotroski is strong at 8/9.
- Cash flow contributes 7/10 to the score.
- Balance sheet contributes 9/15 to the score.
Main drags
- Fair-value margin of safety is negative at -576.5%.
- Valuation is weaker at 0/30; verify the latest quarterly trend.
- Growth is weaker at 8/25; 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
53.2
PB
7.3
EV/EBITDA
20.3
ROE
13.6%
ROCE
17.8%
FCF Yield
1.2%
Debt/Equity
0.1
MoS
-576.5%
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
39
Previous: 39
Legacy U-Score band
WATCHLIST
Previous: WATCHLIST
Margin of safety
-576.5%
Previous: -580.4%
Score history
12 stored score snapshots. Latest stored move: +0 points.
22 Oct 2026
v4.3-runtime-valuation
39
39
39
39
39
39
39
39
39
39
39
39
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
₹126.42
-319.7% MoS
Growth-justified P/E
8.1
Growth-justified Value
₹78.42
-576.5% MoS
PEG
33.25
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
THYROCARE
Micro
Thyrocare Technologies Limited
Diagnostics
match 167
55
41.6
28.4%
-111%
FAIR VALUE
VIYASH
Micro
Viyash Scientific Limited
Diagnostics
match 166
44
41.4
7.4%
+18%
WATCHLIST
NIDAN
SME
Nidan Laboratories And Healthcare Ltd.
Diagnostics
match 156
36
10.1
2.6%
-126%
WATCHLIST
INVICTA
SME
Invicta Diagnostic Ltd.
Diagnostics
match 154
61
19.4
14.0%
+64%
UNDERVALUED
SUDEEPPHRM
Micro
Sudeep Pharma Limited
Healthcare Services
match 97
49
59.7
25.2%
-28%
FAIR VALUE
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 2026-10-22T01:10:50.710Z
Management commentary snapshot
FY26 revenue reached Rs 1,646 Cr with a 17.6% 3-year CAGR, driven by 12% patient volume growth and 17% YoY revenue growth in Q1 FY27, outperforming full-year guidance.
The investment thesis remains intact. Growth is volume-led without reliance on price increases, margin expansion is progressing toward the 27-28% target through operating leverage and automation, and specialty/genomics mix is scaling successfully.
Current business mix
Revenue mix by geography, %
Latest issuer-disclosed distribution across 4 reported categories.
West50.0%
South27.0%
North18.0%
East5.0%
Growth engines
Network Expansion
ActiveScaling own centers from ~750 to 1,000 over three years, increasing centre-to-lab ratio from 24:1 to 35:1, and adding mini-hubs.
TruHealth & Wellness
ScalingTruHealth share of revenue targeted to reach 25%+ from 18% over three years, driven by preventive bundles and radiology integration.
Specialty Testing
GrowingSpecialty share of revenue growing from 40% to ~45%, with genomics portfolio doubling after the Core acquisition.
Digital & Technology
ActiveDigital share of revenue reached 25% from zero, with 40% of B2C revenue coming from self-referrals.
Capacity and execution
Network Service Points
On TrackAdded 295 service points in Q1 FY27 and plans to expand own centers to 1,000 over three years.
Mini-Hub Upgrades
PlannedPlanning 100 mini-hubs with 50 upgrades and 50 new builds to add radiology and consultations.
Tailwinds
Shift to Organised Care
FavorableRising expectations on accuracy and service are driving share toward quality-led organised diagnostic chains.
Growth in Tier 2/3 Towns
FavorableTier III revenue rose about 25%, significantly outpacing Tier I and II growth, supported by new healthcare capacity.
Rise in Non-Communicable Diseases
FavorableOver 60% of mortality is driven by non-communicable diseases, structurally increasing demand for chronic and preventive testing.
Risk radar
Integration of Acquisitions
MonitoringNeed to successfully converge acquired businesses like Core to company-level margins over three years.
Regulatory and Tariff Pressures
LatentImplicit risk from potential changes in the regulatory, competitive, tariff, or reimbursement environment.
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
Both YoY and QoQ comparisons matter as YoY highlights structural multi-year growth and trajectory against guidance, while Q1 sequential performance and utilization metrics assess current operational momentum.
Sector KPIs management disclosed
Domestic Formulations/Diagnostics Growth
PositiveQ1 FY27 revenue grew 17% YoY to Rs 450 Cr, beating full-year guidance of 14-15%. Patient volume grew 12% and test volume 13% in FY26.
EBITDA Margin
ExpandingFY26 EBITDA reached Rs 401 Cr with a margin of 24.4% (organic margin 25.9%). Q1 FY27 EBITDA margin reached 25.2%, up 210 bps YoY.
Launch Pipeline & Approvals
Active347+ tests added in FY26 and Q1 FY27; total menu exceeds 2,200 specialty tests. New launches include Alzheimer's blood test and geneCore Prime.
Plant Utilization and Capacity Additions
ImprovingCentre-to-lab ratio improved to 24:1, targeted to reach 35:1. 295 service points added in Q1 FY27.
Management forward view
Volume-Led Growth
ConfirmedManagement emphasizes that current growth is entirely volume-driven with no scheduled price increases.
Margin Expansion Levers
TargetedTargeting 27-28% EBITDA margins via specialty mix, digital adoption, lab density, standardization, and automation.
Capital Allocation Discipline
CommittedCapex is guided to remain light at ~4% of revenue, funded from internal accruals while improving ROCE.
Thesis monitor
Numbers and claims to verify in the next filings
| Checkpoint | Current evidence | What to verify next |
|---|---|---|
| EBITDA Margin Expansion | 24.4% in FY26 (25.2% in Q1 FY27) | Progress toward the 27-28% target range over the next 3 years. |
| Specialty Revenue Share | ~40% in Q1 FY27 | Expansion toward the ~45% target through genomics and oncology scaling. |
| Network Scale | 750+ towns, ~750 centers | Execution of reaching 1,000 own centers over three years. |
Verification checkpoints are IndiaPulse research interpretation, not investment advice.
Trust Score
79Limited 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 88th percentile of the scored universe and 83rd percentile within Pharma. No major sub-score weakness stands out.
This is a financial-behaviour screen, not a claim-tested management reliability verdict.
Computed 05 Sept 2026
management-trust-v1
131 docs text-extracted · 55 concalls text-extracted
Score band
Limited evidence
Financial behaviour is scored, but management claims do not yet have enough outcome checks.
Relative rank
88th percentile
overall median 67 · Pharma: 83rd pctile, median 70 · Micro: 79th pctile, median 73
Evidence depth
Financial-only
131 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
Can support position sizing if valuation and trend also agree.
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
77
strong · profit to cash conversion
Balance sheet
89
strong · leverage and solvency
Discipline
68
acceptable · capital discipline
Results
87
strong · quarterly consistency
Trust positives
- ▸Promoter pledge is zero.
- ▸FCF yield is positive at 1.1%.
- ▸11 years of positive FCF.
- ▸4/4 latest quarters had positive YoY revenue growth.
Trust risks
- ▸No major Trust Lite risk flags.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Continue researching Metropolis Healthcare Limited
Important announcements & filings
Latest exchange and company disclosures found within the past two years.
Open source ↗
Investor presentationSep 2026
Sep 2026 · PPT
Source: Bse
Concall transcriptSep 2026
Sep 2026 · Transcript
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPS 9 Sep - Allotment of 66,312 equity shares under the Metropolis- Restrictive Stock Unit Plan, 2020
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Restructuring 7 Sep - MQSPL signed SSA and SHA with Medsource and Dr. Puneet; total investment about INR 1.26 crore.
Source: Bse
Concall transcriptAug 2026
Aug 2026 · Transcript
Source: Bse
Investor presentationAug 2026
Aug 2026 · PPT
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Restructuring 20 Aug - Wholly owned subsidiary MQSPL to issue 10,000 OCRPS worth Rs1 lakh; may cease being wholly owned after conversion over 6 years.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 20 Aug
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 5 Aug
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPS 9 Jul - Allotment of 36,900 equity shares under the Metropolis- Restrictive Stock Unit Plan, 2020
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 4 Jun
Source: Bse
All information is for study purposes only. For investment decisions, consult your financial advisor. See Playbook for methodology.