Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 7 Oct - We hereby submit Newspaper Publication for the Corrigendum to the Notice of the 1st/2026-27 Extra-Ordinary General Meeting of the Company.
Source: Bse
Yatharth Hospital & Trauma Care Services Limited (YATHARTH)
Micro CapPharma stocks · Micro cap · NSE
Yatharth Hospital & Trauma Care Services Limited operates a chain of super-specialty hospitals in North India, primarily in the Delhi NCR region and parts of Uttar Pradesh. It focuses on multi-specialty care with 2,800+ beds and a strategy of cluster-based growth through acquisitions and brownfield expansions.
Data qualityFresh enough for analysisQuote updated 21 Oct, 05:57 pm ISTDetails
Quote21 Oct, 05:57 pm IST
Base fundamentals14 Oct 2026 · screener
Latest result16 Aug, 12:52 am IST
Score21 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
75BullishSMA20 +5.0% / mo · MACD − · sector +4.9pp vs Nifty 500 (3M)
Stock trend: 59
Sector RS: 100
Sector 3M: -0.7% vs Nifty 500 -5.6%
Pharma FPI tailwindNot confirmed
Latest mapped FPI equity flow was not positive. View sector evidence
Technical chart
YATHARTHD candles · FIT view+22.8%Latest close ₹922.10 on 2026-10-21
Bar
-4.8%
RSI
35
MACD hist
-16.33
52W pos
59%
2026-10-21O ₹968.10H ₹973.00L ₹909.60C ₹922.10Vol 5.3L 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
YATHARTHNifty PharmaNifty 500
- YATHARTH
- +7.6%
- Nifty 500
- -6.5%
- Nifty Pharma
- -2.0%
- Vs Nifty 500
- +14.1 pp
Chart stats
21 Oct 2026- From 52W high
- -22.1%
- 52W range position
- 59%
- ATR (14)
- 4.6%
- Volume vs 20D
- 1.26x
- Avg traded value
- ₹43.4 Cr
- 20D price channel
- ₹909.6 - ₹1,172.5
₹1,184
₹538.3 - ₹1,184
₹42.9
Latest completed session
20-session average
43.4% 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 · WATCHLIST37
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
Latest result
Average42
Revenue +52.3% · PAT +7.1% YoY
Technical
Bullish75
Price trend and sector-relative-strength timing.
Valuation
Legacy model-9.0%
Legacy margin-of-safety estimate; the revised evidence label remains in shadow validation.
Trust
Limited evidence71
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
Average · 42/100margin compression · Rev +52% YoY · PAT +7% YoY · +15% QoQ
Filed 30 Jun 2026
Open results browser →| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹393 Cr | +52.3% | +14.9% |
| EBITDA | ₹92 Cr | +43.8% | +15.0% |
| Operating margin | 23.0% | -200 bps | +0 bps |
| PAT | ₹45 Cr | +7.1% | +0.0% |
| PAT margin | 11.4% | -483 bps | -171 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Fundamentals
Valuation
- P/E
- 52.60
- P/B
- 5.34
- EV/EBITDA
- 23.82
- Market Cap
- 9525.00Cr
Profitability
- ROE
- 10.20%
- ROCE
- 12.90%
- ROA
- 7.69%
- Dividend Y
- 0.05%
Growth (CAGR)
- Revenue 5Y
- 41.00%
- EPS 5Y
- 57.00%
- Revenue 3Y
- 36.00%
- EPS 3Y
- 38.00%
Balance Sheet
- Debt/Equity
- 0.15
- Interest Coverage
- 23.85×
- Altman Z
- 8.37
- Book Value
- 185.00
Cash Flow
- FCF Yield
- —
- FCF Positive Y
- 3/5
- OCF
- 205.00 Cr
- EPS TTM
- 18.80
Shareholding
- Promoter Hold
- 55.80%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 70%
Financial History
Updated 21/10/2026
Revenue
₹ CrLatest: 393+14.9% vs prev
Net Profit
₹ CrLatest: 45.0+0.0% 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 35. Wait for confirmation.
- Price above SMA200 (long-term uptrend) but mid-term MAs not aligned.
- SMA20 rising (~4.7% over last month) — short-term momentum positive.
- RSI(14) at 35 — falling, no extreme reading.
- MACD below signal, histogram expanding negatively — bearish momentum building.
- 22% off 52W high · 71% 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
79
RS percentile
Stage 2 UptrendEstablished S2
1M return
-18.1%
3M return
+7.6%
6M return
+21.9%
1Y return
+15.9%
RS 1D
-2
RS 20D
-10
Sector rank
#1
Industry rank
#14
Stage evidence
- Price is 7.1% above the 30-week proxy.
- The 50-DMA is above the 30-week proxy and its slope is rising +6.0%.
- Both 3-month and 6-month returns are positive.
50-DMA
price below
200-DMA
price above
S2 entered
15 Jun 2026
S2 age
90 trading sessions
Sector
leading
Industry
leading
Relative-strength line vs Nifty 500 (base 100)
262 observations
21 Oct 2026Value 128.02-4.15%
RS vs Nifty 500128
Valuation & peers
U-Score 37 · legacy U-Score band WATCHLIST · valuation evidence and comparable companies
Valuation & peers
U-Score 37 · legacy U-Score band WATCHLIST · valuation evidence and comparable companies
WATCHLIST
Fundamental score breakdown
U band · WATCHLISTValuation0/30
Growth19/25
Quality2/20
Balance Sheet8/15
Cash Flow3/10
Piotroski
8/9 (+5)
Penalties
0
Raw sum
37
Why this score?
Top U-Score contributors and drags from the latest stored fundamentals.
37/100 · legacy band WATCHLIST
Positive drivers
- Piotroski is strong at 8/9.
- Growth contributes 19/25 to the score.
- Balance sheet contributes 8/15 to the score.
Main drags
- Fair-value margin of safety is negative at -9.0%.
- Valuation is weaker at 0/30; verify the latest quarterly trend.
- Quality is weaker at 2/20; 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
52.6
PB
5.3
EV/EBITDA
23.8
ROE
10.2%
ROCE
12.9%
FCF Yield
—
Debt/Equity
0.1
MoS
-9.0%
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: 21 Oct 2026
v4.3-runtime-valuation
Final score
37
Previous: 37
Legacy U-Score band
WATCHLIST
Previous: WATCHLIST
Margin of safety
-9.0%
Previous: -14.8%
Score history
12 stored score snapshots. Latest stored move: +0 points.
21 Oct 2026
v4.3-runtime-valuation
37
37
37
37
37
37
37
37
37
37
37
37
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
₹279.74
-229.6% MoS
Growth-justified P/E
45.0
Growth-justified Value
₹846
-9.0% MoS
PEG
1.06
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
STAR
Micro
Strides Pharma Science Limited
Healthcare Services
match 165
69
16.6
20.0%
+65%
UNDERVALUED
SUDEEPPHRM
Micro
Sudeep Pharma Limited
Healthcare Services
match 164
49
65.4
25.2%
-32%
FAIR VALUE
SUPRIYA
Micro
Supriya Lifescience Limited
Healthcare Services
match 164
52
35.9
19.1%
+19%
FAIR VALUE
SPARC
Micro
Sun Pharma Advanced Research Company Limited
Healthcare Services
match 163
56
3.8
279.0%
+11%
FAIR VALUE
MARKSANS
Micro
Marksans Pharma Limited
Healthcare Services
match 162
53
27.3
15.2%
+41%
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 under stressReviewed 2026-06-11T08:09:05.301Z
Management commentary snapshot
YATHARTH reports strong Q4 & FY26 revenue growth driven by new hospital ramp-ups and existing asset performance, but EBITDA margin compression raises questions about profitability sustainability amidst aggressive expansion.
While revenue and PAT growth are robust, the Q4 EBITDA margin decline and significant increase in depreciation and finance costs due to new acquisitions warrant scrutiny. The aggressive expansion strategy needs to prove its profitability quickly to justify the capital deployment and reverse margin trends.
Growth engines
New Hospital Ramp-up
positiveNew Delhi, Faridabad Sec-20, and Agra hospitals contributed Rs 753 mn (22%) to Group’s revenues in Q4 FY26, demonstrating early ramp-up success.
Cluster-Based Growth Strategy
positiveBuilding density in NCR (Noida, Faridabad, Gurugram, New Delhi) and expanding footprint beyond NCR in underserved markets like Agra and Jhansi.
High-Value Specialty Mix
positiveEnhanced mix across existing hospitals and rapid scale-up of newer hospitals are expected to elevate the Group’s ARPOB in coming years.
Medical Value Travel
positiveProximity to Noida International Airport is expected to spur medical value travel opportunities, supported by international outreach efforts.
Capacity and execution
Gurugram Hospital Acquisition
positiveAcquired 100% stake in an under-construction 250-bedded super-specialty hospital in Sector 40, Gurugram, with expected operationalization by April 2027. Proposed outlay Rs 200 Cr.
Agra Hospital Integration
positiveIntegrated a 250-bedded hospital in Agra, Uttar Pradesh, w.e.f. February 1, 2026, acquired for Rs 260 Cr. It serves as a feeder hub to NCR hospitals.
Faridabad Sector-20 Hospital
positive400-bedded hospital commenced operations in September 2025, generating ~Rs 6 crore monthly revenue and ~Rs 38k ARPOB.
Model Town, New Delhi Hospital
positive300-bedded hospital commenced operations in July 2025, generating Rs 8-9 crore monthly revenue and ~Rs 40k ARPOB.
Tailwinds
Operating Leverage and Mix Improvement
positiveAdjusted EBITDA Margin stood robust at 30.4% in Q4 FY26, led by operating leverage, mix improvement, and positive impact of price revisions in government business.
Price Revisions in Government Business
positivePositive impact from price revisions in government business contributed to adjusted EBITDA margin robustness.
Headwinds
Initial Ramp-up Losses of New Hospitals
negativeReported EBITDA Margin of 23.4% in Q4 FY26 was impacted by initial ramp-up losses of New Delhi, Faridabad Sec-20, and Agra hospitals.
Increased Depreciation and Financial Costs
negativeDepreciation and amortisation increased 133% YoY in Q4 FY26, and financial cost increased 422% YoY, impacting PAT growth.
Risk radar
Integration Risk of New Acquisitions
neutralThe company has aggressively acquired and integrated new hospitals (Agra, Gurugram), posing integration challenges and potential for underperformance.
Profitability Sustainability Amidst Expansion
negativeOverall EBITDA and PAT margins declined YoY in FY26, indicating that ramp-up losses from new hospitals are currently outweighing gains from existing assets.
High Capital Outlay for New Projects
neutralThe Gurugram hospital acquisition involves a proposed outlay of Rs 200 Cr, and the company targets ~5,000 beds, requiring significant capital deployment.
Increased Leverage
negativeBorrowings increased significantly to Rs 2,533 mn in Mar-26 from Rs 41 mn in Mar-25, leading to higher financial costs.
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 essential to assess overall growth and annual trends, especially for a growing hospital chain. QoQ comparison is crucial to monitor sequential momentum, ramp-up of newly acquired/commissioned hospitals, and the immediate impact on margins and operational metrics.
Sector KPIs management disclosed
Revenue from Operations
positiveQ4 FY26: Rs 3,416 mn (+47% YoY, +6% QoQ). FY26: Rs 12,072 mn (+36% YoY).
EBITDA
positiveQ4 FY26: Rs 799 mn (+37% YoY, +6% QoQ). FY26: Rs 2,921 mn (+30% YoY).
EBITDA Margin
negativeQ4 FY26: 23.4% (-161bps YoY, +1bps QoQ). FY26: 24.2% (-125bps YoY). Adjusted EBITDA Margin (excl. new hospitals) Q4 FY26: 30.4%, FY26: 28.5%.
PAT
positiveQ4 FY26: Rs 447 mn (+15% YoY, +4% QoQ). FY26: Rs 1,703 mn (+30% YoY).
Management forward view
Strengthening Governance
positiveAppointed MSKA & Associates as statutory auditors, Mr. Ramesh Krishnan as Independent Director, and Deloitte as Internal Auditor to strengthen governance mechanisms.
Focus on Cluster-Based Growth
positiveManagement emphasizes building density across clusters in NCR and expanding into underserved markets to drive brand recall and market leadership.
Capacity Expansion Target
positiveManagement aims to achieve ~5,000 beds capacity over the next 3 years through a clear roadmap of brownfield and announced acquisitions.
Thesis monitor
Numbers and claims to verify in the next filings
| Checkpoint | Current evidence | What to verify next |
|---|---|---|
| Reported EBITDA Margin | 23.4% (Q4 FY26) | Sustained improvement in reported EBITDA margin as new hospitals mature and ramp up, closing the gap with adjusted margins. |
| Occupancy Rate & ARPOB of New Hospitals | New Delhi ~Rs 40k ARPOB, Faridabad Sec-20 ~Rs 38k ARPOB | Consistent high ARPOB and accelerated occupancy ramp-up in newly operationalized hospitals (New Delhi, Faridabad, Agra, Gurugram). |
| Net Debt/EBITDA | -0.4x (FY26) | Stability or reduction in leverage as significant capex continues, ensuring financial health and manageable debt service costs. |
| Return on Capital Employed (ROCE) | 16% (FY26) | Recovery and improvement in ROCE as new assets become profitable and contribute meaningfully to the bottom line. |
Verification checkpoints are IndiaPulse research interpretation, not investment advice.
Trust Score
71Limited 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 66th percentile of the scored universe and 54th percentile within Pharma. Main check: cash conversion is weak at 55/100.
This is a financial-behaviour screen, not a claim-tested management reliability verdict.
Computed 05 Sept 2026
management-trust-v1
61 docs text-extracted · 25 concalls text-extracted
Score band
Limited evidence
Financial behaviour is scored, but management claims do not yet have enough outcome checks.
Relative rank
66th percentile
overall median 67 · Pharma: 54th pctile, median 70 · Micro: 46th pctile, median 73
Evidence depth
Financial-only
61 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
68
acceptable · holding, pledge, alignment
Cash flow
55
watch · profit to cash conversion
Balance sheet
89
strong · leverage and solvency
Discipline
58
watch · capital discipline
Results
95
strong · quarterly consistency
Trust positives
- ▸Promoter holding is 55.8%.
- ▸Promoter pledge is zero.
- ▸4/4 latest quarters had positive YoY revenue growth.
- ▸4/4 latest quarters had positive YoY PAT growth.
Trust risks
- ▸Promoter holding fell 5.8%.
- ▸ROCE trend is -4.3%.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Continue researching Yatharth Hospital & Trauma Care Services Limited
Important announcements & filings
Latest exchange and company disclosures found within the past two years.
Open source ↗
AnnouncementSep 2026
Sep 2026 · Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 23 Sep - Management to meet investors at Nuvama Emerging India CEO Forum on September 28 and sell-side meets on September 29, 2026.
Source: Bse
AnnouncementSep 2026
Sep 2026 · Announcement under Regulation 30 (LODR)-Meeting Updates 21 Aug - Yatharth Hospital will hold its 19th AGM on September 25, 2026 via VC/OAVM.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 23 Sep - We hereby submit the Newspaper Publication of the Notice for the 1st/2026-27 Extra-Ordinary General Meeting of the Company along with the e-voting information.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Press Release / Media Release 17 Sep - Advent International to invest Rs 3,150 crore for 24.9% stake in Yatharth Hospitals.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 4 Sep - We hereby submit the Newspaper Publication of the Notice for the 19th Annual General Meeting of the Company, along with the e-voting information.
Source: Bse
Concall transcriptAug 2026
Aug 2026 · Transcript
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 22 Aug - We hereby submit Newspaper Advertisement for information regarding the 19th Annual General Meeting of the Company.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 7 Jul - We hereby submit intimation regarding Schedule of Investors Visit.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 10 Jun - We hereby submit intimation regarding Schedule of Investor Conference.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 6 Jun - We hereby submit intimation regarding Schedule of Investor Conference.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 26 May - We hereby submit Newspaper Publication of Financial Results - Q4 & FY26.
Source: Bse
All information is for study purposes only. For investment decisions, consult your financial advisor. See Playbook for methodology.