Runs a national chain of diagnostic laboratories and patient-facing collection touchpoints, offering pathology tests, specialty diagnostics (oncology, neurology, genomics), and wellness/preventive panels. Pathology services accounted for 96.6% of segment revenue, with the residual 3.4% from other income (FY19 segment disclosure). In FY26, the business served 14 million patients and ran 30 million tests across 210+ labs and more than 5,000 service touchpoints spread over 750+ towns in India, with operations in 21 countries. Specialty testing contributed 37% of revenue and TruHealth wellness 19%, while digital channels accounted for 25% of revenue. The Core Diagnostics acquisition was integrated ahead of schedule, reaching high-single-digit EBITDA in Q4 FY26. The company is planning to add 100 mini hubs (pathology plus basic radiology) and 1,500 new collection centres over the next three years. The cost base is dominated by employee costs (22.9% of revenue), other operating expenses (33.0%), and diagnostic materials and consumables (19.7%). AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Pathology services (97%), Other income (3%). Pan-India diagnostics services chain, asset-light on the patient side, fixed-cost-heavy on the lab side
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 1,228 | 1,148 | 1,208 | 1,331 | 1,646 |
| EBITDA (ex other income) | 359 | 288 | 283 | 303 | 392 |
| margin % | 29.2 | 25.1 | 23.4 | 22.8 | 23.8 |
| Owners' profit | 214 | 143 | 128 | 145 | 190 |
| EPS, as reported (₹) | 41.87 | 27.91 | 24.95 | 28.29 | 9.19 |
| ROE % · ROCE % | 24.2 · 25.5 | 14.5 · 17.3 | 11.7 · 15.1 | 10.9 · 13.3 | 12.5 · 15.7 |
| Debt / equity (x) | 0.29 | 0.08 | 0.00 | 0.01 | 0.01 |
| Cash from operations | 253 | 247 | 264 | 263 | 351 |
| Capex | (31) | (53) | (64) | (43) | (43) |
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 350 | 323 | 345 | 386 | 429 | 406 | 425 | 450 |
| Profit before tax | 61 | 42 | 36 | 61 | 71 | 57 | 70 | 78 |
| Net profit | 47 | 31 | 29 | 45 | 53 | 42 | 51 | 57 |
| EPS (₹) | 9.08 | 6.11 | 5.69 | 8.70 | 10.17 | 7.99 | 2.46 | 2.73 |
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| DR. LAL PATH LABS LTD. | 31,794 | 45.7 | 12.51 | 37.0 | 20.1 | 24.8 | 11.8 | 35.0 |
| VIJAYA DIAGNOSTIC CEN LTD | 15,456 | 82.4 | 16.15 | 43.1 | 18.1 | 16.8 | — | 46.4 |
| METROPOLIS HEALTHCARE LTD ◆ | 12,088 | 25.0 | 7.93 | 28.9 | 12.5 | 14.4 | 10.5 | 25.8 |
| THYROCARE TECH LTD | 8,797 | 32.3 | 15.01 | 32.1 | 27.8 | 33.2 | 10.9 |
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 9 Sept 2026 · Allotment of 66,312 equity shares under MHL-RSU Plan 2020 | capital market events | low | — | — |
| 7 Sept 2026 · Subsidiary MQSPL partners with Medsource for quality assessment business | strategic transactions | high | — | — |
| 7 Sept 2026 · Franklin Templeton MF crosses 5% stake in Metropolis Healthcare via open market | ownership changes | medium | — | — |
| 2 Sept 2026 · Metropolis Healthcare investor meet: 3-year growth roadmap shared | investor communications | medium | — | — |
| 27 Aug 2026 · Audio recording of Investors and Analyst Meet available on website | investor communications | low | — | — |
| 27 Aug 2026 · Metropolis Healthcare transfers EQAS Division to subsidiary MQSPL | strategic transactions | medium | — | — |
| 27 Aug 2026 · Investor presentation outlines 14-15% revenue growth and 27-28% EBITDA margin target | investor communications | medium | — | — |
| 20 Aug 2026 · Metropolis subsidiary MQSPL to issue OCRPS to former executive | fund raising | medium | — | — |
| 20 Aug 2026 · Metropolis Healthcare schedules Investor and Analyst Meet on Aug 27 | board shareholder meetings | low | — | — |
| 19 Aug 2026 · Scrutinizer Report: All 8 Resolutions Passed at 26th AGM | compliance | low | — | — |
| Where a broker report shows | This document shows | Why |
|---|---|---|
| 33.9 |
| NEPHROCARE HEALTH SERV L | 7,678 | 79.3 | 6.88 | 30.4 | 6.9 | 8.6 | — | 25.3 |
| KRSNAA DIAGNOSTICS LTD | 1,794 | 18.4 | 1.83 | 9.0 | 10.3 | 8.4 | — | 27.7 |
| SURAKSHA DIAGNOSTIC LTD | 1,693 | 47.2 | 6.95 | 17.2 | 12.9 | 11.5 | — | 36.0 |
| 3B BLACKBIO DX LTD. | 1,217 | 20.3 | 3.67 | 14.3 | 18.1 | 22.5 | (8.9) | 52.6 |
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 25.0 | 23.2 | 16 of 29 | 46% |
| P/B | 7.9 | 2.3 | 20 of 24 | 17% |
| ROCE | 14.4 | 6.1 | 7 of 29 | 79% |
| ROE | 12.5 | 7.3 | 10 of 26 | 64% |
| Debt / Equity | 0.0 | 0.0 | 13 of 26 | 52% |
| EBITDA margin | 25.8 | 25.6 | 12 of 24 | 52% |
| Revenue growth | 16.6 | 20.8 | 15 of 25 | 42% |
| Profit growth | 25.7 | 22.0 | 11 of 25 | 58% |
| Market cap | 12088 | 38 | 3 of 30 | 93% |
| 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 |
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.
