NSE: KIMS · BSE: 543308
KRISHNA INST OF MED SCI L
Operates a multi-specialty hospital chain across several Indian states including Telangana, Andhra Pradesh, Karnataka, Maharashtra, and Kerala. Revenue is generated from inpatient and outpatient hospital services, with Q4 FY26 inpatient volumes up 17.9% YoY and outpatient volumes up 30.1% YoY. The company expanded into 8 new locations in FY26 — Kompally, Guntur (two facilities), Thane, Sangli, Bangalore Mahadevapura and Electronic City, Kerala Kollam, plus a mother-and-child unit at Nellore — and is consolidating the 300-bed Palakkad acquisition. Mature hospitals run at ~29.5% EBITDA margin, while overall FY26 EBITDA margin was 20.9% as newly commissioned units dragged INR 128 crore on EBITDA. Employee costs of 17.5% of revenue are the largest disclosed cost line, with capex at 36.6% of revenue reflecting the build-out. A INR 1,500 crore QIP closed in June 2026 is being used to retire ~INR 1,000 crore of debt and target net debt/EBITDA of ~2x against ~3.5x currently. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Inpatient hospital services, Outpatient hospital services. Asset-heavy multi-specialty hospital chain in an aggressive expansion phase, with mature units at ~29.5% EBITDA margin offset by new-unit drag
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 1,651 | 2,198 | 2,498 | 3,035 | 3,905 |
| EBITDA (ex other income) | 516 | 619 | 640 | 794 | 791 |
| margin % | 31.2 | 28.2 | 25.6 | 26.2 | 20.3 |
| Owners' profit | 333 | 336 | 310 | 385 | 241 |
| EPS, as reported (₹) | 41.88 | 42.03 | 38.75 | 9.61 | 6.03 |
| ROE % · ROCE % | 24.4 · 27.4 | 18.9 · 19.5 | 16.1 · 14.9 | 17.1 · 13.2 | 9.5 · 8.2 |
| Debt / equity (x) | 0.11 | 0.35 | 0.65 | 1.06 | 1.27 |
| Cash from operations | 520 | 432 | 521 | 582 | 511 |
| Capex | (170) | (526) | (647) | (1,009) | (1,428) |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 777 | 772 | 797 | 872 | 961 | 998 | 1,075 | 1,180 |
| Profit before tax | 162 | 135 | 134 | 114 | 97 | 69 | 52 | 56 |
| Net profit | 121 | 93 | 106 | 85 | 72 | 52 | 33 | 37 |
| EPS (₹) | 2.68 | 2.22 | 2.54 | 1.96 | 1.67 | 1.33 | 1.06 | 1.04 |
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) | 136.4 | 42.2 | 28 of 30 | 7% |
| P/B | 11.4 | 5.4 | 23 of 24 | 4% |
| ROCE | 5.1 | 10.9 | 23 of 30 | 24% |
| ROE | 9.5 | 11.8 | 16 of 24 | 35% |
| Debt / Equity | 1.3 | 0.2 | 24 of 24 | 0% |
| EBITDA margin | 20.3 | 22.0 | 17 of 24 | 30% |
| Revenue growth | 35.3 | 20.2 | 3 of 23 | 91% |
| Profit growth | (56.0) | 8.1 | 19 of 21 | 10% |
| Market cap | 29211 | 2481 | 7 of 30 | 79% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 26 Oct 2026 · Board to approve Q2 and half-year results on November 4, 2026 | results | low | — | — |
| 19 Oct 2026 · Analyst and institutional investor meeting scheduled for November 16, 2026 | board shareholder meetings | low | — | — |
| 10 Oct 2026 · Quarterly Reg 74(5) DP compliance certificate filed | compliance | minimal | — | — |
| 8 Oct 2026 · Clarification on Acquisition Announcement - Board Meeting Timings | strategic transactions | medium | — | — |
| 7 Oct 2026 · KIMS corrects financial metrics of two acquisition targets | results | medium | — | — |
| 6 Oct 2026 · KIMS to acquire up to 22% stake in Splendid Hospitals for Rs 40 crore | strategic transactions | medium | — | — |
| 6 Oct 2026 · KIMS to acquire 51% stake in Sarvottam Health Care for up to Rs 80 Cr | strategic transactions | high | — | — |
| 6 Oct 2026 · KIMS acquires 6% stake in Ushahkal Abhinav Specialty Hospital for ₹15 Cr | strategic transactions | medium | — | — |
| 6 Oct 2026 · KIMS to acquire 51% in Insignia Healthcare at Rs 30.35 per share | strategic transactions | high | — | — |
| 26 Sept 2026 · Trading Window Closure Ahead of Q2 FY27 Results | 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.