Aatmaj Healthcare Q2 FY27 Share Price & Earnings Call Analysis
- Market cap
- ₹54 Cr
- P/E
- 74.71
- ROE
- 1.43%
- PEG
- -1.48
- Price to sales
- 2.39
- Debt to equity
- 0.41
- 52W high / low
- ₹25.5 / ₹16.7
- Sales growth (5Y)
- 7.78%
- EBITDA margin
- 10.65%
- Net profit margin
- 3.20%
- Promoter holding
- 64.48%
- Sales (last year)
- ₹23 Cr
Incorporated in 2022, Aatmaj Healthcare Ltd provides multi-speciality and super-specially healthcare services[1]
Guidance scorecard · Q2 FY27 call
What Aatmaj Healthcare Ltd's management guided
and where it ranks in Healthcare Services
RevenueQ2 FY24 call
20–40%- Target revenue for current year (FY 23-24): Around Rs. 28 to 32 crore, depending on PMJAY strategy.
- Projected revenue in 2-3 years (FY 25-26): Around Rs. 80 to 90 crore.
- Expected revenue for next year: Approximately Rs. 45 to 50 crore.
- Growth driven by strategic acquisitions of multi-specialty hospitals and expansion into new verticals like IVF centers.
- Expansion plan includes increasing bed capacity from current 330 beds to 430 beds.
- Geographic expansion planned in four states: Gujarat, Madhya Pradesh, Rajasthan, and Maharashtra by 2027.
2 more points from Aatmaj Healthcare Ltd's call on revenue
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MarginsQ2 FY24 call
FlatSee what Aatmaj Healthcare Ltd said on margins — free account, 30 seconds.
CapexQ2 FY24 call
Planned- Recent CapEx was incurred to increase bed capacity from 130 to 330 beds, primarily through strategic acquisitions and leases rather than owning properties, minimizing capital outlay.
- No plans to invest in building ownership going forward; existing newly acquired hospitals are on rental/lease agreements.
- Planned CapEx of around ₹4-5 Cr over the next year for setting up 2 IVF centers, including equipment and operational costs.
- IVF centers expected to start before March 2024; potential for partnership or takeover of existing centers.
- Expansion plan includes increasing capacity to 430 beds and growing presence in Gujarat, Rajasthan, Madhya Pradesh, and Maharashtra.
2 more points from Aatmaj Healthcare Ltd's call on capex
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FundraisingQ2 FY24 call
PlannedSee what Aatmaj Healthcare Ltd said on fundraising — free account, 30 seconds.
Order bookQ2 FY24 call
Ask what Aatmaj Healthcare Ltd said on the order book →
Full Q2 FY24 analysisRanges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.
Potential multibaggers · Q2 FY27
Potential multibaggers in Healthcare Services
on management's own guidance
- Strong growth2
- Strong growth1
- Aster DM Quality Care LtdGood growth3
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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.
Peers
Healthcare Services companies ranked on guidance
| # | Company | Revenue guided | Margin guided | Market cap | P/E |
|---|---|---|---|---|---|
| 1 | 40%+ | Up 2%+ | ₹903 Cr | — | |
| 2 | 40%+ | Flat | ₹583 Cr | 22.2 | |
| 3 | Aster DM Quality Care Ltd | 20–40% | Up 2%+ | ₹58,782 Cr | 162.9 |
| 4 | 20–40% | Up 0–2% | ₹1,730 Cr | 17.5 | |
| 5 | 20–40% | Up 0–2% | ₹580 Cr | 11.9 | |
| 6 | 20–40% | Flat | ₹1.13L Cr | 53.9 |
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Pro shows every company guiding 40%+ revenue growth →Full Healthcare Services rankingFinancials of Aatmaj Healthcare Ltd
Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Shareholder Pattern
Aatmaj Healthcare Ltd
Shareholding breakup across reporting periods.
| Jun 2023 | Sep 2023 | Mar 2024 | Sep 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Mar 2026 | Sep 2026 | |
|---|---|---|---|---|---|---|---|---|---|
| Promoters + | 63.72% | 63.72% | 63.72% | 63.72% | 63.74% | 63.74% | 63.76% | 64.33% | 64.48% |
| Public + | 36.27% | 36.28% | 36.28% | 36.28% | 36.26% | 36.26% | 36.24% | 35.67% | 35.52% |
| No. of Shareholders | 2,511 | 1,772 | 1,537 | 1,522 | 1,409 | 1,389 | 1,350 | 1,288 | 1,226 |
Financials of Aatmaj Healthcare Ltd
Quarterly Results
Quarter-by-quarter operating performance
Financials of Aatmaj Healthcare Ltd
Profit & Loss
Annual income statement trend
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|
| Sales + | 4.13 | 15.49 | 20.26 | 23.74 | 14.84 | 19.17 | 22.53 | 30.47 |
| Expenses + | 3.46 | 10.20 | 12.75 | 13.91 | 12.29 | 17.62 | 20.13 | 27.84 |
| Operating Profit | 0.67 | 5.29 | 7.51 | 9.83 | 2.55 | 1.55 | 2.40 | 2.63 |
| OPM % | 16.22% | 34.15% | 37.07% | 41.41% | 17.18% | 8.09% | 10.65% | 8.63% |
| Other Income + | 0.01 | -0.00 | -0.00 | 0.03 | 0.85 | 1.32 | 0.93 | 0.95 |
| Interest | 0.50 | 0.44 | 0.24 | 0.90 | 1.25 | 0.88 | 1.38 | 1.79 |
| Depreciation | 0.36 | 0.39 | 0.43 | 0.69 | 0.81 | 0.92 | 0.97 | 1.01 |
| Profit before tax | -0.18 | 4.46 | 6.84 | 8.27 | 1.34 | 1.07 | 0.98 | 0.78 |
| Tax % | 50.00% | 7.40% | 26.02% | 28.66% | 34.33% | 40.19% | 26.53% | |
| Net Profit + | -0.27 | 4.12 | 5.05 | 5.91 | 0.88 | 0.64 | 0.71 | 0.57 |
| EPS in Rs | -0.17 | 2.54 | 3.12 | 3.65 | 0.39 | 0.28 | 0.31 | 0.25 |
| Dividend Payout % | -0.00% | -0.00% | -0.00% | -0.00% | 12.84% | -0.00% | -0.00% |
Financials of Aatmaj Healthcare Ltd
Balance Sheet
Capital structure and asset base
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | Sep 2026 | |
|---|---|---|---|---|---|---|---|---|
| Equity Capital | 1.35 | 1.35 | 1.35 | 8.10 | 11.30 | 11.30 | 11.30 | 11.30 |
| Reserves | -2.28 | 1.84 | 6.92 | 6.08 | 38.18 | 38.82 | 39.53 | 39.90 |
| Borrowings + | 8.76 | 4.33 | 5.18 | 11.69 | 5.47 | 10.06 | 21.03 | 23.16 |
| Other Liabilities + | 1.50 | 2.28 | 4.03 | 5.14 | 2.73 | 3.07 | 4.79 | 5.20 |
| Total Liabilities | 9.33 | 9.80 | 17.48 | 31.01 | 57.68 | 63.25 | 76.65 | 79.56 |
| Fixed Assets + | 8.02 | 8.21 | 10.87 | 11.17 | 18.18 | 18.00 | 29.46 | 29.35 |
| CWIP | -0.00 | -0.00 | -0.00 | -0.00 | -0.00 | -0.00 | 0.53 | 0.43 |
| Investments | -0.00 | -0.00 | -0.00 | -0.00 | -0.00 | -0.00 | -0.00 | -0.00 |
| Other Assets + | 1.31 | 1.59 | 6.61 | 19.84 | 39.50 | 45.25 | 46.66 | 49.78 |
| Total Assets | 9.33 | 9.80 | 17.48 | 31.01 | 57.68 | 63.25 | 76.65 | 79.56 |
Financials of Aatmaj Healthcare Ltd
Cash Flows
Operating, investing and financing cash movement
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Cash from Operating Activity + | -0.54 | 6.11 | 9.55 | 5.33 | -8.01 | 3.34 | 7.07 |
| Cash from Investing Activity + | -0.18 | -0.71 | -3.37 | -1.42 | -7.82 | -0.69 | -12.38 |
| Cash from Financing Activity + | 0.67 | -4.87 | -6.55 | -3.78 | 26.32 | -1.29 | 4.85 |
| Net Cash Flow | -0.05 | 0.53 | -0.37 | 0.14 | 10.49 | 1.35 | -0.47 |
| Free Cash Flow | -0.72 | 5.54 | 6.45 | 4.35 | -15.83 | 2.60 | -5.32 |
| CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit | -81% | 120% | 104% | 32% | -327% | 215% | 295% |
Financials of Aatmaj Healthcare Ltd
Ratios
Working capital efficiency and return ratios
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Debtor Days | 86.61 | 13.43 | 91.88 | 274.13 | 507.16 | 468.01 | 397.56 |
| Inventory Days | 64.68 | 18.38 | |||||
| Days Payable | 494.37 | 148.80 | |||||
| Cash Conversion Cycle | -343.07 | -116.99 | 91.88 | 274.13 | 507.16 | 468.01 | 397.56 |
| Working Capital Days | -166.15 | -46.18 | -28.10 | 79.18 | 554.63 | 426.69 | 305.71 |
| ROCE % | 63.84% | 67.53% | 46.64% | 6.41% | 3.39% | 3.60% |
Continue your research
What Aatmaj Healthcare Ltd's management said in earlier quarters
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