Earns by providing technology-enabled healthcare services to US healthcare providers — medical coding, clinical documentation, ambient scribing (Scribble Select), autonomous coding, multi-agent patient engagement (MyCare Hub), and revenue cycle management (RCM). It also sells point solutions for clinical decision support and denial prediction. In July 2026 it completed the USD 557 million acquisition of TruBridge, adding electronic health record (EHR) and RCM technology for US rural and community hospitals, taking the combined group's reach to 2,000+ healthcare organizations and 150,000 clinicians in the US. Through its US subsidiary, it now also holds a 51.88% stake in WWMG MSO, supporting US physician practices under value-based care arrangements, and has incorporated Value Partners Collective ACO, LLC to bid for the CMS LEAD program. The customer base is 600+ US providers (being rationalised to 500-600), with Q4 FY26 revenue of INR 857 crore (+18.5% YoY) on headcount of 13,331 (1,981 clinically trained). The biggest cost driver is employee expense at 51.0% of revenue, consistent with its services-led delivery model; other operating expenses are 14.8%, depreciation 3.9%, and capex 1.0%. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Healthcare tech-enabled services (coding, RCM, scribing, autonomous coding, MyCare Hub), TruBridge EHR and RCM (rural/community hospitals), Value-based care (WWMG MSO). Asset-light, services-led US healthcare BPO/platform with high employee costs and rising AI-led automation; recently scaled via the USD 557 million TruBridge acquisition.
| ₹ crore · consolidated | FY25 | FY26 |
|---|---|---|
| Revenue | 2,664 | 3,194 |
| EBITDA (ex other income) | 770 | 1,091 |
| margin % | 28.9 | 34.2 |
| Owners' profit | 486 | 722 |
| EPS, as reported (₹) | 29.20 | 43.12 |
| ROE % · ROCE % | 27.2 · 27.5 | 25.8 · 29.8 |
| Debt / equity (x) | 0.42 | 0.23 |
| Cash from operations | 318 | 674 |
| Capex | (25) | (32) |
| ₹ crore | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|
| Revenue | 657 | 724 | 740 | 781 | 815 | 858 | 894 |
| Profit before tax | 160 | 180 | 195 | 229 | 232 | 258 | 256 |
| Net profit | 130 | 148 | 152 | 181 | 183 | 206 | 194 |
| EPS (₹) | 7.80 | 8.88 | 9.07 | 10.81 | 10.96 | 12.31 | 11.55 |
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| L&T TECHNOLOGY SER. LTD. | 35,510 | 26.9 | 5.47 | 16.3 | 19.7 | 21.1 | 15.1 | 19.6 |
| TATA TECHNOLOGIES LIMITED | 31,087 | 55.8 | 7.92 | 33.8 | 13.9 | 14.3 | — | 18.3 |
| INVENTURUS KNOWLEDGE SO L ◆ | 29,665 | 38.0 | 10.59 | 27.0 | 25.8 | 27.7 | — | 33.6 |
| NETWEB TECH INDIA LTD | 28,723 | 109.9 | 39.71 | — | 28.5 | 37.5 | — | 15.7 |
| AFFLE 3I LIMITED | 22,105 |
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 4 Sept 2026 · IKS Health CHRO Manisha Kadagathur resigns; Amaris McComas named as replacement | management changes | medium | — | — |
| 29 Aug 2026 · Newspaper publication of 20th AGM notice and e-voting details | compliance | minimal | — | — |
| 28 Aug 2026 · IKS sends AGM notice and annual report FY26 to shareholders via web link | compliance | minimal | — | — |
| 28 Aug 2026 · IKS Health files FY26 BRSR with independent reasonable assurance | compliance | low | — | — |
| 28 Aug 2026 · 20th AGM notice on Sept 21, 2026; ESOP pool hike and director changes on agenda | board shareholder meetings | low | — | — |
| 28 Aug 2026 · Notice of 20th AGM on September 21, 2026 with FY26 Annual Report | board shareholder meetings | medium | — | — |
| 18 Aug 2026 · Notice of 20th AGM published in newspapers | compliance | minimal | — | — |
| 13 Aug 2026 · IKS Investor Meet rescheduled to August 19, 2026 | board shareholder meetings | low | — | — |
| 13 Aug 2026 · Temasek added to IKS investor meet on August 14 | board shareholder meetings | low | — | — |
| 13 Aug 2026 · Investor meet rescheduled from Aug 18 to Aug 19 at Motilal Oswal conference | board shareholder meetings | low | — | — |
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) |
| 46.2 |
| 6.05 |
| 30.4 |
| 12.5 |
| 15.2 |
| 39.3 |
| 25.8 |
| SAGILITY LIMITED | 21,150 | 21.3 | 2.19 | 12.0 | 9.6 | 11.6 | — | 22.3 |
| BLACK BOX LIMITED | 14,299 | 61.3 | 11.11 | 28.4 | 16.9 | 9.5 | 6.2 | 8.4 |
| E2E NETWORKS LIMITED | 12,632 | 287.1 | — | — | — | — | — | 82.5 |
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 38.0 | 18.9 | 59 of 78 | 25% |
| P/B | 10.6 | 2.2 | 68 of 70 | 3% |
| ROCE | 27.7 | 9.7 | 8 of 87 | 92% |
| ROE | 25.8 | 9.4 | 7 of 72 | 92% |
| Debt / Equity | 0.2 | 0.0 | 58 of 72 | 20% |
| EBITDA margin | 33.6 | 13.0 | 9 of 69 | 88% |
| Revenue growth | 20.8 | 20.8 | 34 of 67 | 50% |
| Profit growth | 27.9 | 14.6 | 24 of 64 | 64% |
| Market cap | 29665 | 309 | 3 of 87 | 98% |
| 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 |
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.
