NSE: KOVAI · BSE: 523323
KOVAI MEDICAL CENTER & HO
Runs a multi-specialty hospital together with a medical education business, with the healthcare segment accounting for almost all of revenue. In FY26 the healthcare segment generated ₹1,470.25 cr of revenue and the education segment brought in ₹115.39 cr, with consolidated segment EBIT of ₹337.61 cr on the ₹1,470.25 cr line. The hospital operates large physical infrastructure — a Neuro Sciences block inaugurated at a cost of ₹120 cr, and a 300-bed Paediatric Hospital approved by the board — and employs 5,527 permanent employees plus 699 permanent workers. Materials and consumables form the largest cost line at 28.3% of revenue, followed by employee costs at 19.3% and other operating expenses at 24.7%, with capex at 15.9% of revenue pointing to ongoing capacity expansion. The board has approved the divestment of the Allied Health Sciences courses division to a related-party trust for ₹84.54 lakhs to focus on core medical education programmes. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Healthcare services, Education. Asset-heavy hospital services with a smaller medical education arm
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · standalone | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 906 | 1,019 | 1,220 | 1,371 | 1,586 |
| EBITDA (ex other income) | 258 | 267 | 342 | 386 | 439 |
| margin % | 28.4 | 26.2 | 28.0 | 28.1 | 27.7 |
| Owners' profit | 104 | 116 | 180 | 209 | 244 |
| EPS, as reported (₹) | 95.28 | 105.80 | 164.25 | 190.95 | 223.41 |
| ROE % · ROCE % | 17.1 · 15.6 | 16.1 · 15.5 | 20.2 · 21.9 | 19.2 · 20.3 | 18.5 · 20.6 |
| Debt / equity (x) | 0.84 | 0.66 | 0.31 | 0.35 | 0.28 |
| Cash from operations | 263 | 263 | 344 | 353 | 362 |
| Capex | (99) | (127) | (138) | (353) | (252) |
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 | 315 | 344 | 355 | 357 | 374 | 392 | 407 | 414 |
| Profit before tax | 61 | 67 | 75 | 74 | 76 | 78 | 87 | 84 |
| Net profit | 46 | 51 | 58 | 55 | 57 | 59 | 65 | 63 |
| EPS (₹) | 41.81 | 46.32 | 52.83 | 49.99 | 52.30 | 53.79 | 59.42 | 57.90 |
Exhibit 3: Segment revenue, FY26
| Segment | Revenue, ₹ crore | Share % |
|---|---|---|
| Healthcare | 1,471 | 92.7 |
| Education | 115 | 7.3 |
| Total, before eliminations | 1,587 | 100.0 |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 26.4 | 29.9 | 106 of 244 | 57% |
| P/B | 4.9 | 3.2 | 159 of 238 | 33% |
| ROCE | 18.7 | 10.4 | 53 of 276 | 81% |
| ROE | 18.5 | 9.4 | 32 of 241 | 87% |
| Debt / Equity | 0.3 | 0.1 | 164 of 240 | 32% |
| EBITDA margin | 28.8 | 19.1 | 63 of 239 | 74% |
| Revenue growth | 15.9 | 16.6 | 124 of 237 | 48% |
| Profit growth | 15.8 | 23.7 | 125 of 230 | 46% |
| Market cap | 6445 | 583 | 73 of 276 | 74% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 15 Oct 2026 · Board Meeting on 11 Nov 2026 to consider Q2 FY27 results | results | low | — | — |
| 12 Oct 2026 · Special window for re-lodgement of physical share transfers | compliance | minimal | — | — |
| 5 Oct 2026 · Compliance certificate for share dematerialisation - Q2 FY27 | compliance | minimal | — | — |
| 21 Sept 2026 · Postal ballot results Dr Arun N Palaniswami re-designated as Joint MD | management changes | medium | — | — |
| 19 Sept 2026 · Trading window closed from 1 Oct 2026 for Q2 results | compliance | minimal | — | — |
| 27 Aug 2026 · KMCH 40th AGM: All 4 resolutions passed, including dividend approval | board shareholder meetings | low | — | — |
| 26 Aug 2026 · 40th AGM concluded via video conferencing; voting results pending | board shareholder meetings | low | — | — |
| 21 Aug 2026 · Postal ballot notice published in newspapers, e-voting from 21 Aug to 19 Sep 2026 | compliance | minimal | — | — |
| 20 Aug 2026 · Postal ballot to elevate Dr. Arun N Palaniswami as Joint Managing Director | management changes | high | — | — |
| 10 Aug 2026 · KMCH Q1 FY27 results: revenue up 15% YoY, PAT up 21% YoY | compliance | minimal | — | — |
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.