NSE: KMCSHIL · BSE: 524520
K M C SPECIALITY HOSP I L
Operates a 450-bed multi-specialty hospital in Tiruchirapalli (Trichy), Tamil Nadu, as part of the Kauvery Group, alongside a 200-bed Maa Kauvery mother and child care facility that has been running since January 2024. The business operates in a single segment — Medical and Healthcare Services — and reported FY26 revenue of 305.77 crore, with blended average revenue per occupied bed (ARPOB) of 32,838 and occupancy of 81% in Q4 FY26. Growth has come from higher inpatient and outpatient volumes combined with improving per-bed realisation. The Board has approved the purchase of about 1 acre of adjoining land at Alexandria Road for 62.50 crore to add approximately 300 beds, funded through internal accruals and debt. The cost structure is dominated by other operating expenses at 35.0% of revenue and employee costs at 21.5%, with materials at only 4.8% — reflecting a service-led hospital model. FY26 EBITDA margin was 30.4%, supported by a strong balance sheet with 60.8 crore in cash and Net Debt/EBITDA at 0.11x. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Medical and Healthcare Services. Single-location, asset-heavy hospital services concentrated in Trichy, Tamil Nadu
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · standalone | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 136 | 156 | 177 | 232 | 306 |
| EBITDA (ex other income) | 37 | 41 | 47 | 57 | 88 |
| margin % | 27.3 | 26.5 | 26.7 | 24.6 | 28.8 |
| Owners' profit | 24 | 27 | 30 | 21 | 47 |
| EPS, as reported (₹) | 1.45 | 1.64 | 1.86 | 1.31 | 2.87 |
| ROE % · ROCE % | 27.3 · 30.0 | 23.5 · 23.1 | 21.2 · 19.2 | 13.0 · 16.5 | 22.2 · 24.6 |
| Debt / equity (x) | 0.33 | 0.39 | 0.50 | 0.50 | 0.34 |
| Cash from operations | 29 | 32 | 38 | 58 | 79 |
| Capex | 0 | (44) | (75) | (64) | (17) |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 53 | 56 | 61 | 61 | 67 | 75 | 82 | 82 |
| Profit before tax | 7 | 5 | 10 | 9 | 10 | 15 | 18 | 20 |
| Net profit | 6 | 4 | 8 | 5 | 8 | 11 | 14 | 15 |
| EPS (₹) | 0.34 | 0.24 | 0.46 | 0.27 | 0.46 | 0.66 | 0.84 | 0.90 |
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 | 1,10,237 | 52.8 | 11.05 | 29.2 | 20.1 | 16.6 | 19.0 | 16.2 |
| MAX HEALTHCARE INS LTD | 85,003 | 58.3 | 7.91 | 37.3 | 13.4 | 11.1 | 27.3 | 27.0 |
| FORTIS HEALTHCARE LTD | 57,603 | 55.0 | 5.66 | 28.4 | 10.5 | 9.7 | 17.8 | 22.0 |
| ASTER DM QUALITY CARE LTD | 35,077 | 109.5 | 7.26 | 35.8 | 8.8 | 8.5 | (11.6) | 14.3 |
| NARAYANA HRUDAYALAYA LTD. | 34,337 | 41.8 | 7.56 | 23.1 | 17.8 | 9.2 | 25.0 | 18.8 |
| GLOBAL HEALTH LIMITED | 34,241 | 61.5 | 8.59 | 34.7 | 13.9 | 13.5 | — | 23.7 |
| KRISHNA INST OF MED SCI L | 28,892 | 134.9 | 11.29 | 39.3 | 9.5 | 5.1 | 24.0 | 20.3 |
| DR AGARWALS HEALTH CARE L | 14,804 | 99.6 | 6.98 | 24.2 | 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) | 62.1 | 42.4 | 25 of 30 | 17% |
| P/B | 13.8 | 5.6 | 24 of 24 | 0% |
| ROCE | 21.8 | 10.9 | 2 of 30 | 97% |
| ROE | 22.2 | 11.8 | 2 of 24 | 96% |
| Debt / Equity | 0.3 | 0.2 | 19 of 24 | 22% |
| EBITDA margin | 33.8 | 22.0 | 2 of 24 | 96% |
| Revenue growth | 35.0 | 20.2 | 4 of 23 | 86% |
| Profit growth | 223.5 | 8.1 | 1 of 21 | 100% |
| Market cap | 2896 | 2699 | 15 of 30 | 52% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 8 Oct 2026 · RTA submits quarterly dematerialisation confirmation certificate | compliance | minimal | — | — |
| 30 Sept 2026 · All 5 resolutions passed at 43rd AGM; voting results filed with BSE | board shareholder meetings | low | — | — |
| 29 Sept 2026 · Trading window closed for KMC Speciality Hospitals ahead of Q2 results | compliance | minimal | — | — |
| 28 Sept 2026 · 43rd AGM held via video conferencing; 5 resolutions transacted | board shareholder meetings | low | — | — |
| 15 Sept 2026 · Promoter entity files revised pledge disclosure with BSE | ownership changes | medium | — | — |
| 15 Sept 2026 · Promoter SKMCIL pledges 5.37% holding company shares for group NCDs | ownership changes | medium | — | — |
| 4 Sept 2026 · Notice of 43rd AGM published in newspapers | compliance | minimal | — | — |
| 3 Sept 2026 · BRSR for FY 2025-26 submitted to BSE under SEBI Regulation 34 | compliance | minimal | — | — |
| 3 Sept 2026 · 43rd AGM on Sept 28, 2026; FY25-26 Annual Report filed with BSE | board shareholder meetings | low | — | — |
| 3 Sept 2026 · 43rd AGM Notice on Sept 28, 2026 includes RPT of Rs 65 Cr and borrowing limit hike to Rs 700 Cr | board shareholder meetings | low | — | — |
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.