NSE: GKSL · BSE: 544666
GUJARAT KIDNEY N SUP SP L
Operates hospitals providing kidney care and super-speciality medical services, and has expanded rapidly through acquisitions of multiple hospital and pathology businesses across India. Recently listed on BSE and NSE in December 2025, the company is now extending overseas with a board-approved plan to acquire 51 percent of Blue Tree Clinics LLC, a Dubai polyclinic offering plastic surgery, cosmetic, dental and chiropractic services. The Dubai target reported FY25 revenue of 10.54 million AED and net profit of 3.14 million AED. Subsidiaries brought in include Raj Pathology, Gujarat Surgical Hospital, Surya Hospital, Harmony Medicare, Parekh's Hospital and Patel Multispeciality Hospital, taking the group to a multi-hospital chain. Employee costs of 16.6 percent of revenue and other operating expenses of 39.4 percent are the largest cost lines. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Hospital and super-speciality services, Pathology and diagnostic services, UAE polyclinic services (pending acquisition). Asset-heavy hospital chain in active acquisition mode
Exhibit 1: Financial summary, FY26–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY26 |
|---|---|
| Revenue | 82 |
| EBITDA (ex other income) | 27 |
| margin % | 32.8 |
| Owners' profit | 15 |
| EPS, as reported (₹) | 2.49 |
| ROE % · ROCE % | 6.6 · 8.6 |
| Debt / equity (x) | 0.06 |
| Cash from operations | (4) |
| Capex | (11) |
Exhibit 2: Quarterly performance, last 4 quarters
| ₹ crore | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|
| Revenue | 28 | 23 | 31 | 34 |
| Profit before tax | 12 | 5 | 5 | 7 |
| Net profit | 8 | 4 | 5 | 5 |
| EPS (₹) | 1.47 | 0.52 | 0.81 | 0.66 |
Exhibit 3: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| APOLLO HOSPITALS ENTER. L | 1,12,042 | 53.6 | 11.23 | 29.6 | 20.1 | 16.6 | 19.0 | 16.2 |
| MAX HEALTHCARE INS LTD | 82,239 | 56.4 | 7.65 | 36.1 | 13.4 | 11.1 | 27.3 | 27.0 |
| FORTIS HEALTHCARE LTD | 55,603 | 53.1 | 5.47 | 27.5 | 10.5 | 9.7 | 17.8 | 22.0 |
| NARAYANA HRUDAYALAYA LTD. | 35,048 | 42.7 | 7.72 | 23.5 | 17.8 | 9.2 | 25.0 | 18.8 |
| ASTER DM QUALITY CARE LTD | 34,204 | 106.8 | 7.08 | 34.9 | 8.8 | 8.5 | (11.6) | 14.3 |
| GLOBAL HEALTH LIMITED | 33,865 | 60.9 | 8.50 | 34.4 | 13.9 | 13.5 | — | 23.7 |
| KRISHNA INST OF MED SCI L | 29,211 | 136.4 | 11.42 | 39.7 | 9.5 | 5.1 | 24.0 | 20.3 |
| DR AGARWALS HEALTH CARE L | 15,073 | 101.4 | 7.11 | 24.6 | 7.9 | 7.1 | — | 28.8 |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 50.6 | 42.2 | 19 of 30 | 38% |
| P/B | 5.4 | 5.4 | 12 of 24 | 52% |
| ROCE | 7.9 | 10.9 | 20 of 30 | 35% |
| ROE | 6.6 | 11.8 | 20 of 24 | 17% |
| Debt / Equity | 0.1 | 0.2 | 6 of 24 | 78% |
| EBITDA margin | 26.4 | 22.0 | 9 of 24 | 65% |
| Market cap | 1379 | 2481 | 18 of 30 | 41% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 23 Oct 2026 · Board to review September 2026 quarterly results on 4 November | results | low | — | — |
| 5 Oct 2026 · Quarterly confirmation: all shares held in demat form | compliance | minimal | — | — |
| 29 Sept 2026 · AGM Results: All 12 Resolutions Passed with 100% Approval | compliance | minimal | — | — |
| 28 Sept 2026 · 7th AGM held on Sept 28; 12 resolutions approved | board shareholder meetings | low | — | — |
| 26 Sept 2026 · Trading window closes from October 1 ahead of Q2 results | compliance | minimal | — | — |
| 19 Sept 2026 · Corrigendum to Annual Report FY 2025-26 - secretarial audit disclosures added | general | medium | — | — |
| 4 Sept 2026 · Newspaper notice of 7th Annual General Meeting | compliance | minimal | — | — |
| 3 Sept 2026 · 7th AGM on Sept 28, 2026 with 12 resolutions including MD pay hike | board shareholder meetings | low | — | — |
| 3 Sept 2026 · Revised Annual Report for FY 2025-26 and 7th AGM Notice filed | results | medium | — | — |
| 3 Sept 2026 · FY26 Annual Report and 7th AGM Notice with Key Resolutions | results | high | — | — |
How to read this document
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions | an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
Sources, method and disclosures
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.