Artemis Medicare Services Limited has informed the Exchange about Closure of one of the Cardiac Centre at Chennai by subsidiary of the Company.
ARTEMISMED · price
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Artemis Medicare Services Limited announced that its subsidiary, Artemis Cardiac Care Private Limited, has decided to close one of its Cardiac Centres located in Chennai, effective August 15, 2025. The reason cited is operational aspects. The closure has negligible impact on the consolidated entity, with the Chennai unit contributing just Rs. 153.12 lakhs (0.16%) to consolidated turnover of Rs. 93,691.67 lakhs in FY 2024-25. Notably, the unit had a negative net worth of Rs. (114.76) lakhs, meaning it was a drag on the subsidiary's books. No binding sale agreement has been entered into.
The closure is financially immaterial for shareholders, as the Chennai centre contributed only 0.16% of consolidated revenue and had negative net worth. Removing a loss-making unit could be marginally positive for consolidated profitability, but is unlikely to move the stock price.