NSE: RAINBOW · BSE: 543524
RAINBOW CHILDRENS MED LTD
Runs a chain of paediatric and maternity hospitals in India under a hub-and-spoke model, where larger tertiary hubs feed smaller spoke units in the same city. As of the latest reported quarter it operates 24 hospitals across 9 cities with 2,565 beds and 1,075-plus doctors, and is extending to Western India with a 100-bed greenfield in Malad, Mumbai (due Q1 FY28). Revenue is earned from in-patient admissions, out-patient consultations, deliveries and paediatric intensive/quaternary care such as ECMO, with Q1 FY27 revenue of ₹470 cr (+33% YoY) on IP discharges +28%, OP consultations +25% and deliveries +23%, at an ARPOB of ₹67,256 and occupancy above 41%. The medium-term plan adds 2,500 beds over five years to reach 5,000 beds, of which 1,200 are already under execution, funded by an estimated ~₹2,100 cr of capex. Q1 FY27 EBITDA margin was 28.6%, with management guiding to 24–25% by year-end as newly commissioned hospitals ramp up. The biggest cost line is other operating expenses at 41.0% of revenue (FY26), followed by employee costs at 13.7% and materials at 13.3%, with depreciation at 8.8% and capex at 12.7%. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. In-patient paediatric and maternity admissions, Out-patient consultations and clinic visits. Asset-heavy, capacity-expanding paediatric and maternity hospital chain with a hub-and-spoke template
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 974 | 1,174 | 1,297 | 1,516 | 1,703 |
| EBITDA (ex other income) | 305 | 396 | 429 | 490 | 543 |
| margin % | 31.3 | 33.8 | 33.1 | 32.3 | 31.9 |
| Owners' profit | 138 | 211 | 217 | 243 | 278 |
| EPS, as reported (₹) | 14.75 | 20.89 | 21.38 | 23.97 | 27.41 |
| ROE % · ROCE % | 22.9 · 20.5 | 19.9 · 20.6 | 17.3 · 17.5 | 16.6 · 18.1 | 16.9 · 16.8 |
| Debt / equity (x) | 0.07 | 0.00 | 0.00 | 0.00 | 0.00 |
| Cash from operations | 224 | 327 | 321 | 396 | 420 |
| Capex | (62) | (141) | (354) | (146) | (216) |
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 | 417 | 398 | 370 | 353 | 445 | 445 | 460 | 470 |
| Profit before tax | 105 | 94 | 77 | 71 | 102 | 98 | 87 | 84 |
| Net profit | 79 | 69 | 57 | 54 | 76 | 74 | 78 | 63 |
| EPS (₹) | 7.77 | 6.76 | 5.55 | 5.27 | 7.41 | 7.14 | 7.59 | 5.97 |
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) | 42.7 | 42.2 | 17 of 30 | 45% |
| P/B | 7.3 | 5.4 | 18 of 24 | 26% |
| ROCE | 13.8 | 10.9 | 8 of 30 | 76% |
| ROE | 16.9 | 11.8 | 6 of 24 | 78% |
| Debt / Equity | 0.0 | 0.2 | 1 of 24 | 91% |
| EBITDA margin | 31.4 | 22.0 | 3 of 24 | 91% |
| Revenue growth | 33.2 | 20.2 | 5 of 23 | 82% |
| Profit growth | 16.2 | 8.1 | 8 of 21 | 65% |
| Market cap | 12198 | 2481 | 9 of 30 | 72% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 23 Oct 2026 · Earnings call scheduled for Q2 FY27 results | board shareholder meetings | low | — | — |
| 23 Oct 2026 · Board meeting to approve September 2026 quarterly and half-year results | results | low | — | — |
| 7 Oct 2026 · Quarterly compliance certificate under SEBI Depositories Regulations filed | compliance | minimal | — | — |
| 30 Sept 2026 · Rainbow Hospitals leases land for 250-bed children's hospital in Amaravati | capex operations | high | — | — |
| 29 Sept 2026 · ICRA reaffirms AA rating with stable outlook | credit debt | medium | — | — |
| 25 Sept 2026 · Trading Window Closed Until Q2 FY2027 Results Are Declared | compliance | minimal | — | — |
| 23 Sept 2026 · Rainbow Hospitals appoints Sudarshan Patodia as Group CFO | management changes | high | — | — |
| 23 Sept 2026 · Rainbow Childrens Medicare grants 55,690 stock options under ESOP 2025 | capital market events | medium | — | — |
| 23 Sept 2026 · Disclosure of authorised Key Managerial Personnel under SEBI LODR Regulation 30(5) | compliance | minimal | — | — |
| 23 Sept 2026 · Rainbow Childrens Medicare appoints Sudarshan Patodia as Group CFO | management changes | high | — | — |
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.