Medi Assist Healthcare Services Q1 FY27 Share Price & Earnings Call Analysis
- Market cap
- ₹2,225 Cr
- P/E
- 22.51
- ROE
- 13.38%
- PEG
- 2.34
- Price to sales
- 2.34
- Debt to equity
- 0.06
- 52W high / low
- ₹571 / ₹282
- Sales growth (5Y)
- 22.90%
- EBITDA margin
- 19.00%
- Net profit margin
- 10.37%
- Promoter holding
- 4.61%
- Sales (last year)
- ₹951 Cr
Incorporated in June 2000, Medi Assist Healthcare Services Limited is a health-tech and insurance-tech company that manages health benefits for employers, retail members, and public health schemes, primarily serving insurance companies.[1]
Guidance scorecard · Q1 FY27 call
What Medi Assist Healthcare Services Ltd's management guided
and where it ranks in Insurance
Insurance
RevenueQ1 FY27 call
20–40%- Core business (group and retail segments) expected to grow at or faster than market rates, maintaining steady growth.
- Government business remains a meaningful and margin-accretive contributor, with performance-driven schemes across 16 states.
- Technology SaaS business exhibiting strong growth (55.5% YoY in Q1 FY27) and anticipated to be a significant revenue and margin contributor over time.
- International business poised for accelerated growth with contracts in Thailand and expansion opportunities; expected higher yields and margins than domestic business.
- Same-store growth for group business steady around 7%-8%; retention rates targeted to improve from current ~90% back to historical 93%-94%.
- New business additions continue seasonally, with overall revenue benefiting from portfolio rationalization and integration efficiencies.
2 more points from Medi Assist Healthcare Services Ltd's call on revenue
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MarginsQ1 FY27 call
FlatSee what Medi Assist Healthcare Services Ltd said on margins — free account, 30 seconds.
CapexQ1 FY27 call
Planned- Strategic investments are focused on technology and international business expansion.
- Investments are being funded from operating cash flows.
- Technology plays a pivotal role in improving operating efficiency, scaling the TPA business, and enabling new revenue streams.
2 more points from Medi Assist Healthcare Services Ltd's call on capex
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FundraisingQ1 FY27 call
See what Medi Assist Healthcare Services Ltd said on fundraising — free account, 30 seconds.
Order bookQ1 FY27 call
- Substantial pipeline of insurers, brokers, and corporates in India and internationally for technology business.
- Ongoing contracts and proofs of concept with about half of the insurers for technology platform integration.
- International business pipeline being developed with contracts in Thailand and access to over 50% of travel premiums placed in India.
- Government business contributing meaningfully but evaluated continuously based on quality of revenues.
- Continued addition of substantial new business in group segment, with seasonality noted.
2 more points from Medi Assist Healthcare Services Ltd's call on the order book
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Ranges 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 Insurance
on management's own guidance
- Niva Bupa Health Insurance Company LtdGood growth2
- Max Financial Services LtdGood growth1
- 3
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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.
Peers
Insurance companies ranked on guidance
| # | Company | Revenue guided | Margin guided | Market cap | P/E |
|---|---|---|---|---|---|
| 1 | Max Financial Services Ltd | 20–40% | Flat | ₹44,689 Cr | 411.9 |
| 2 | Niva Bupa Health Insurance Company Ltd | 20–40% | Flat | ₹14,047 Cr | 80.6 |
| 3 | Medi Assist Healthcare Services LtdThis stock | 20–40% | Flat | ₹2,286 Cr | 23.1 |
| 4 | 10–20% | Flat | ₹1.20L Cr | 58.6 |
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Pro shows every company guiding 40%+ revenue growth →Full Insurance rankingFinancials of Medi Assist Healthcare Services Ltd
Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Financials of Medi Assist Healthcare Services Ltd
Quarterly Results
Quarter-by-quarter operating performance
| Dec 2022 | Mar 2023 | Jun 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales + | 125 | 136 | 141 | 166 | 167 | 168 | 181 | 186 | 189 | 191 | 233 | 240 | 242 |
| Expenses + | 95 | 105 | 118 | 132 | 130 | 132 | 142 | 146 | 148 | 149 | 193 | 195 | 194 |
| Operating Profit | 31 | 31 | 22 | 34 | 37 | 35 | 38 | 40 | 41 | 42 | 40 | 45 | 48 |
| OPM % | 24% | 23% | 16% | 20% | 22% | 21% | 21% | 21% | 22% | 22% | 17% | 19% | 20% |
| Other Income + | 6 | 2 | 5 | 4 | 4 | 5 | 6 | 4 | 8 | 7 | 2 | -7 | 1 |
| Interest | 1 | 1 | 1 | 1 | 1 | 2 | 2 | 2 | 4 | 5 | 8 | 8 | 1 |
| Depreciation | 6 | 8 | 8 | 11 | 12 | 14 | 14 | 14 | 14 | 14 | 21 | 21 | 21 |
| Profit before tax | 30 | 23 | 18 | 26 | 28 | 25 | 30 | 27 | 30 | 31 | 13 | 8 | 28 |
| Tax % | 28% | 32% | 3% | 17% | 9% | 24% | 29% | -10% | 28% | 26% | 40% | 51% | -95% |
| Net Profit + | 22 | 16 | 18 | 21 | 26 | 19 | 21 | 30 | 22 | 23 | 8 | 4 | 54 |
| EPS in Rs | 3.13 | 2.30 | 2.58 | 2.98 | 3.58 | 2.68 | 2.99 | 4.19 | 3.05 | 3.18 | 1.13 | 0.56 | 7.16 |
Financials of Medi Assist Healthcare Services Ltd
Profit & Loss
Annual income statement trend
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| Sales + | 277 | 319 | 323 | 394 | 505 | 635 | 723 | 905 |
| Expenses + | 194 | 237 | 247 | 302 | 385 | 501 | 569 | 730 |
| Operating Profit | 82 | 82 | 76 | 92 | 120 | 133 | 154 | 175 |
| OPM % | 30% | 26% | 23% | 23% | 24% | 21% | 21% | 19% |
| Other Income + | -14 | 7 | 11 | 21 | 12 | -5 | 24 | 4 |
| Interest | 4 | 4 | 6 | 3 | 3 | 3 | 10 | 21 |
| Depreciation | 23 | 27 | 32 | 28 | 27 | 43 | 56 | 77 |
| Profit before tax | 41 | 59 | 49 | 81 | 102 | 82 | 112 | 80 |
| Tax % | 37% | 41% | 47% | 21% | 28% | 16% | 18% | -11% |
| Net Profit + | 26 | 35 | 26 | 64 | 74 | 69 | 92 | 89 |
| EPS in Rs | 7,254.85 | 9,576.18 | 7,064.52 | 9.33 | 10.76 | 9.53 | 12.89 | 11.78 |
| Dividend Payout % | 0% | 0% | 0% | 20% | 18% | 26% | 0% | 0% |
Financials of Medi Assist Healthcare Services Ltd
Balance Sheet
Capital structure and asset base
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| Equity Capital | 0.04 | 0.04 | 0.04 | 34 | 34 | 35 | 35 | 37 |
| Reserves | 218 | 212 | 290 | 303 | 342 | 437 | 506 | 802 |
| Borrowings + | 98 | 115 | 35 | 27 | 31 | 26 | 204 | 54 |
| Other Liabilities + | 202 | 231 | 220 | 238 | 295 | 344 | 412 | 479 |
| Total Liabilities | 518 | 558 | 545 | 602 | 702 | 842 | 1,158 | 1,372 |
| Fixed Assets + | 142 | 138 | 119 | 99 | 171 | 246 | 306 | 659 |
| CWIP | 3 | 1 | 1 | 6 | 0 | 3 | 4 | 0 |
| Investments | 88 | 72 | 111 | 201 | 44 | 77 | 274 | 158 |
| Other Assets + | 285 | 347 | 315 | 296 | 487 | 516 | 574 | 556 |
| Total Assets | 518 | 558 | 545 | 602 | 702 | 842 | 1,158 | 1,372 |
Financials of Medi Assist Healthcare Services Ltd
Cash Flows
Operating, investing and financing cash movement
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity + | 35 | 19 | 139 | 64 | 81 | 66 | 138 | 118 |
| Cash from Investing Activity + | -21 | -22 | -61 | -83 | -10 | -55 | -218 | -160 |
| Cash from Financing Activity + | -10 | -12 | -10 | -30 | -32 | -15 | 112 | 12 |
| Net Cash Flow | 4 | -15 | 69 | -49 | 39 | -3 | 32 | -30 |
| Free Cash Flow | 14 | -2 | 126 | 62 | 53 | 49 | 92 | 62 |
| CFO/OP | 97% | 70% | 141% | 116% | 100% | 70% | 89% | 68% |
Financials of Medi Assist Healthcare Services Ltd
Ratios
Working capital efficiency and return ratios
| Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| Debtor Days | 119 | 78 | 137 | 110 | 92 | 103 | 112 | 116 |
| Inventory Days | ||||||||
| Days Payable | ||||||||
| Cash Conversion Cycle | 119 | 78 | 137 | 110 | 92 | 103 | 112 | 116 |
| Working Capital Days | -80 | -103 | -73 | -59 | -66 | -43 | -105 | 25 |
| ROCE % | 20% | 19% | 23% | 26% | 23% | 19% | 14% |
Guidance history
How Medi Assist Healthcare Services Ltd's guidance has moved, call by call
| Call | Revenue | Margins | Capex | Fundraising | Order book |
|---|---|---|---|---|---|
| Q1 FY27 call → | 20–40% | Flat | Planned | — | — |
| Q4 FY26 call → | 10–20% | Flat | Planned | — | Rising |
| Q3 FY26 call → | 10–20% | Up 0–2% | Planned | — | Rising |
| Q2 FY26 call → | 10–20% | Flat | — | Planned | Rising |
What management guided on each call, newest first. Not investment advice, and not a forecast of returns.
Momentum score · price trend
10 out of 100 — Cooling
Over the past year its share price has done worse than most of the stocks we track.
| Period | Share price change | Better than … of 1,910 stocks |
|---|---|---|
| Last 12 months | −46.3% | 7% |
| Last 6 months | −13.7% | 30% |
| Last 3 months | −16.7% | 25% |
The price is 56.4% below its all-time high of ₹683.3 (20 Sept 2024). Stocks more than 20% below their peak have their score halved, so 20 became 10.
How we calculate it
“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).
The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For Medi Assist Healthcare Services Ltd: 0.4 × 7 + 0.4 × 30 + 0.2 × 25 = 20, halved to 10 because the price is more than 20% below its all-time high.
Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.
Full methodology →This describes only how the share price has moved up to 29 Oct 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.
Continue your research
What Medi Assist Healthcare Services Ltd's management said in earlier quarters
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