Reported Earnings • May 11
Full year 2026 earnings: Revenues and EPS in line with analyst expectations Full year 2026 results: EPS: ₹6.56 (up from ₹5.37 in FY 2025). Revenue: ₹11.1b (up 19% from FY 2025). Net income: ₹1.04b (up 25% from FY 2025). Profit margin: 9.3% (up from 8.8% in FY 2025). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) were also in line with analyst expectations. Revenue is forecast to grow 19% p.a. on average during the next 2 years, compared to a 20% growth forecast for the Healthcare industry in India. Over the last 3 years on average, earnings per share has increased by 29% per year but the company’s share price has increased by 46% per year, which means it is tracking significantly ahead of earnings growth. Announcement • May 05
Artemis Medicare Services Limited to Report Q4, 2026 Results on May 08, 2026 Artemis Medicare Services Limited announced that they will report Q4, 2026 results on May 08, 2026 Reported Earnings • Feb 03
Third quarter 2026 earnings released: EPS: ₹1.41 (vs ₹1.32 in 3Q 2025) Third quarter 2026 results: EPS: ₹1.41 (up from ₹1.32 in 3Q 2025). Revenue: ₹2.80b (up 20% from 3Q 2025). Net income: ₹223.4m (up 8.1% from 3Q 2025). Profit margin: 8.0% (down from 8.9% in 3Q 2025). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 24% p.a. on average during the next 3 years, compared to a 20% growth forecast for the Healthcare industry in India. Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has increased by 47% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Jan 29
Artemis Medicare Services Limited to Report Q3, 2026 Results on Feb 02, 2026 Artemis Medicare Services Limited announced that they will report Q3, 2026 results on Feb 02, 2026 New Risk • Jan 03
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 15% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. This is currently the only risk that has been identified for the company. Price Target Changed • Nov 14
Price target increased by 10% to ₹308 Up from ₹279, the current price target is an average from 4 analysts. New target price is 14% above last closing price of ₹269. Stock is down 4.0% over the past year. The company is forecast to post earnings per share of ₹7.50 for next year compared to ₹5.37 last year. Reported Earnings • Nov 12
Second quarter 2026 earnings released: EPS: ₹1.90 (vs ₹1.42 in 2Q 2025) Second quarter 2026 results: EPS: ₹1.90 (up from ₹1.42 in 2Q 2025). Revenue: ₹2.82b (up 17% from 2Q 2025). Net income: ₹299.7m (up 35% from 2Q 2025). Profit margin: 11% (up from 9.2% in 2Q 2025). The increase in margin was driven by higher revenue. Revenue is forecast to grow 19% p.a. on average during the next 3 years, compared to a 19% growth forecast for the Healthcare industry in India. Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has increased by 54% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Nov 04
Artemis Medicare Services Limited to Report Q2, 2026 Results on Nov 11, 2025 Artemis Medicare Services Limited announced that they will report Q2, 2026 results on Nov 11, 2025 Reported Earnings • Aug 06
First quarter 2026 earnings released: EPS: ₹1.35 (vs ₹1.14 in 1Q 2025) First quarter 2026 results: EPS: ₹1.35 (up from ₹1.14 in 1Q 2025). Revenue: ₹2.62b (up 17% from 1Q 2025). Net income: ₹212.8m (up 28% from 1Q 2025). Profit margin: 8.1% (up from 7.5% in 1Q 2025). The increase in margin was driven by higher revenue. Revenue is forecast to grow 14% p.a. on average during the next 2 years, compared to a 17% growth forecast for the Healthcare industry in India. Over the last 3 years on average, earnings per share has increased by 26% per year but the company’s share price has increased by 68% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Jul 30
Artemis Medicare Services Limited to Report Q1, 2026 Results on Aug 05, 2025 Artemis Medicare Services Limited announced that they will report Q1, 2026 results on Aug 05, 2025 Upcoming Dividend • Jul 07
Upcoming dividend of ₹0.45 per share Eligible shareholders must have bought the stock before 11 July 2025. Payment date: 29 August 2025. Payout ratio is a comfortable 8.4% and this is well supported by cash flows. Trailing yield: 0.2%. Lower than top quartile of Indian dividend payers (1.2%). In line with average of industry peers (0.3%). Announcement • Jul 02
Artemis Medicare Services Limited Announces Resignation of Ashutosh Kumar Jha, Chief - Strategy, M&A, Investor Relationship and Organization Growth, and A Senior Management Personnel, Effective July 1, 2025 Artemis Medicare Services Limited announced that Mr. Ashutosh Kumar Jha, Chief - Strategy, M&A, Investor Relationship and Organization Growth, and a Senior Management Personnel of the Company in terms of Regulation 16(1)(d) of the SEBI Listing Regulations, has resigned from the services of the Company, effective from the close of business hours i.e., July 1, 2025, to pursue growth opportunities outside the organization. Announcement • Jun 23
Artemis Medicare Services Limited, Annual General Meeting, Jul 30, 2025 Artemis Medicare Services Limited, Annual General Meeting, Jul 30, 2025, at 15:00 Indian Standard Time. Declared Dividend • Jun 22
Dividend of ₹0.45 announced Dividend of ₹0.45 is the same as last year. Ex-date: 11th July 2025 Payment date: 29th August 2025 Dividend yield will be 0.2%, which is lower than the industry average of 0.3%. Sustainability & Growth Dividend is well covered by both earnings (8% earnings payout ratio) and cash flows (12% cash payout ratio). The dividend has not increased over the past 2 years but payments have been stable during that time. EPS is expected to grow by 53% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Announcement • Jun 22
Artemis Medicare Services Limited announces Annual dividend, payable on August 29, 2025 Artemis Medicare Services Limited announced Annual dividend of INR 0.4500 per share payable on August 29, 2025, ex-date on July 11, 2025 and record date on July 11, 2025. Major Estimate Revision • Jun 13
Consensus EPS estimates increase by 14% The consensus outlook for fiscal year 2026 has been updated. 2026 EPS estimate increased from ₹6.67 to ₹7.60. Revenue forecast unchanged at ₹11.4b. Net income forecast to grow 34% next year vs 30% growth forecast for Healthcare industry in India. Consensus price target broadly unchanged at ₹298. Share price fell 3.1% to ₹259 over the past week. Price Target Changed • May 16
Price target decreased by 30% to ₹275 Down from ₹395, the current price target is an average from 2 analysts. New target price is 12% above last closing price of ₹245. Stock is up 28% over the past year. The company is forecast to post earnings per share of ₹7.55 for next year compared to ₹5.37 last year. Reported Earnings • May 13
Full year 2025 earnings: EPS in line with expectations, revenues disappoint Full year 2025 results: EPS: ₹5.37 (up from ₹3.62 in FY 2024). Revenue: ₹9.70b (up 10% from FY 2024). Net income: ₹826.3m (up 68% from FY 2024). Profit margin: 8.5% (up from 5.6% in FY 2024). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 2.0%. Earnings per share (EPS) were mostly in line with analyst estimates. Revenue is forecast to grow 13% p.a. on average during the next 2 years, compared to a 18% growth forecast for the Healthcare industry in India. Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has increased by 85% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Feb 05
Artemis Medicare Services Limited Approves to Relocate Hospital Unit Providing Woman and Child Healthcare Services Under the Company's Brand `Daffodils by Artemis' Artemis Medicare Services Limited informed that the Board of Directors at its meeting held on February 5, 2025 considered and approved To relocate a hospital unit providing Woman and Child Healthcare Services under the Company's Brand `Daffodils by Artemis', currently located in Sector 40, Gurugram, to the Company's flagship hospital located in Sector -51, Gurugram due to operational considerations and with the objective of achieving economies of scale and reducing operating expenses. Consequently, the operations of the aforesaid unit at the current location will be discontinued from February 28, 2025. Announcement • Jan 30
Artemis Medicare Services Limited to Report Q3, 2025 Results on Feb 05, 2025 Artemis Medicare Services Limited announced that they will report Q3, 2025 results on Feb 05, 2025 Price Target Changed • Jan 20
Price target increased by 9.3% to ₹351 Up from ₹321, the current price target is an average from 2 analysts. New target price is 13% above last closing price of ₹312. Stock is up 68% over the past year. The company is forecast to post earnings per share of ₹5.77 for next year compared to ₹3.62 last year. Announcement • Dec 27
Artemis Medicare Services Limited Appoints Vinod Rai as an Independent Director, Effective January 1, 2025 Artemis Medicare Services Limited announced that the Members of the Company through postal ballot (Results declared on December 27, 2024), have approved the appointment of Mr. Vinod Rai (DIN: 00041867) as an Independent Director of the Company for a term of 5 years, effective from January 1, 2025. To be effective from January 1, 2025 for a period of 5 years up to December 31, 2029 (both days inclusive). Mr. Vinod Rai Is Former Comptroller and Auditor General of India and Former Chairman of the United Nations Panel of External Auditors. He Holds Master's Degrees from University of Delhi and Harvard University. Mr. Rai Has Held Various Positions Within the Union Government as Well as in the State Government of Kerala. as Secretary in the Ministry of Finance, He Served as A Director on the Boards of State Bank of India, Icici Bank, Idbi Bank, Life Insurance Corporation of India and Idfc. He Was Appointed as the First Chairman of the Banks Board Bureau Set Up by the Indian Government to Reform Public Banking in India. He Was Awarded the `Padma Bhushan', Third Highest Civilian Award in the Country. He Is A Distinguished Visiting Research Fellow At the Institute of South Asian Studies At the National University of Singapore. Price Target Changed • Nov 29
Price target increased by 9.3% to ₹351 Up from ₹321, the current price target is an average from 2 analysts. New target price is 6.8% above last closing price of ₹329. Stock is up 94% over the past year. The company is forecast to post earnings per share of ₹5.77 for next year compared to ₹3.62 last year. Reported Earnings • Nov 16
Second quarter 2025 earnings released: EPS: ₹1.42 (vs ₹1.00 in 2Q 2024) Second quarter 2025 results: EPS: ₹1.42 (up from ₹1.00 in 2Q 2024). Revenue: ₹2.49b (up 11% from 2Q 2024). Net income: ₹222.6m (up 64% from 2Q 2024). Profit margin: 8.9% (up from 6.0% in 2Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 17% p.a. on average during the next 3 years, compared to a 19% growth forecast for the Healthcare industry in India. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has increased by 100% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Nov 09
Artemis Medicare Services Limited to Report Q2, 2025 Results on Nov 14, 2024 Artemis Medicare Services Limited announced that they will report Q2, 2025 results on Nov 14, 2024 Announcement • Sep 10
Artemis Medicare Services Limited Announces Board Appointments Artemis Medicare Services Limited informed that the Members of the Company through postal ballot have approved Appointment of Mr. Akshaykumar Narendrasinhji Chudasama as an Independent Director of the Company for a term of 5 (five) years effective from September 12, 2024. Appointment of Ms. Pallavi Shardul Shroff as an Independent Director of the Company for a term of 5 (five) years effective from September 12, 2024. Mr. Akshay holds a degree in Bachelors of Arts (BA) from St. Xavier's College (University of Bombay) and LLB from the London School of Economics (University of London), UK. He is enrolled as an Advocate with the Bar Council of Maharashtra and Goa, and as a Solicitor with the Law Society (England and Wales). He is also enrolled with the Bombay Bar Association, the International Bar Association and the Inter-Pacific Bar Association and is a member of the Entrepreneurs' Organization and Young Presidents' Organization. He has been practicing law since 1994. Mr. Akshay is the Managing Partner of Shardul Amarchand Mangaldas & Co. and heads the firm's practice in the Mumbai Region. He has expertise in cross-border M&A and Private Equity across a range of sectors with over 29 years of experience. He was a Partner at AZB & Partners for more than 3 years and thereafter at J. Sagar Associates (JSA) for 10 years. Ms. Pallavi holds a degree in Bachelors of Arts (Eco. Hons) from University of Delhi, Master of Management Studies from Jamnalal Bajaj Institute of Management Studies and LLB from Government Law College, Mumbai. She is a very experienced disputes lawyer with over 43 years of experience. She has represented various domestic and international clients before National Courts, Supreme Court of India, Tribunals and Legal Institutions and has earned national and international acclaim. Ms. Pallavi is the Managing Partner & National Practice Head, Dispute Resolution of Shardul Amarchand Mangaldas & Co. She is an alternate member from India at ICC Court of Arbitrations and was formerly a member of SIAC governing board. She is also on the governing committee of the Mumbai International Arbitration Centre. The Chambers and Partners, 2024 acknowledges her as an "Eminent Practitioner" in the field of Competition/Antitrust Law and Dispute Resolution. Announcement • Sep 05
Artemis Medicare Services Limited Announces Resignation of Kapil Kumar, Chief Technology Officer-Medical Informatics to Be Effective from October 14, 2024 Artemis Medicare Services Limited announced that Mr. Kapil Kumar, Chief Technology Officer-Medical Informatics has tendered his resignation from the services of the Company to be effective from the close of business hours on October 14, 2024, to pursue his career outside the organization. Reported Earnings • Aug 09
First quarter 2025 earnings released: EPS: ₹1.14 (vs ₹0.72 in 1Q 2024) First quarter 2025 results: EPS: ₹1.14 (up from ₹0.72 in 1Q 2024). Revenue: ₹2.28b (up 8.6% from 1Q 2024). Net income: ₹166.7m (up 70% from 1Q 2024). Profit margin: 7.3% (up from 4.7% in 1Q 2024). The increase in margin was driven by higher revenue. Revenue is forecast to grow 39% p.a. on average during the next 2 years, compared to a 17% growth forecast for the Healthcare industry in India. Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has increased by 96% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Aug 02
Artemis Medicare Services Limited to Report Q1, 2025 Results on Aug 08, 2024 Artemis Medicare Services Limited announced that they will report Q1, 2025 results on Aug 08, 2024 Valuation Update With 7 Day Price Move • Jul 29
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to ₹261, the stock trades at a forward P/E ratio of 42x. Average forward P/E is 43x in the Healthcare industry in India. Total returns to shareholders of 582% over the past three years. Announcement • Jul 24
Artemis Medicare Services Limited Declares Final Dividend for the Financial Year 2023-24 Artemis Medicare Services Limited at its AGM held on July 24, 2024, approved declaration of final dividend of INR 0.45 per equity share (i.e. 45%), for the financial year 2023-24 to be paid to the Members holding shares as on the record date i.e. July 5, 2024. Valuation Update With 7 Day Price Move • Jul 11
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to ₹218, the stock trades at a forward P/E ratio of 35x. Average forward P/E is 44x in the Healthcare industry in India. Total returns to shareholders of 534% over the past three years. Reported Earnings • Jul 03
Full year 2024 earnings: EPS and revenues miss analyst expectations Full year 2024 results: EPS: ₹3.62 (up from ₹2.89 in FY 2023). Revenue: ₹8.79b (up 19% from FY 2023). Net income: ₹491.4m (up 27% from FY 2023). Profit margin: 5.6% (up from 5.2% in FY 2023). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 11%. Earnings per share (EPS) also missed analyst estimates by 23%. Over the last 3 years on average, earnings per share has increased by 29% per year but the company’s share price has increased by 69% per year, which means it is tracking significantly ahead of earnings growth. Declared Dividend • Jun 19
Dividend of ₹0.45 announced Dividend of ₹0.45 is the same as last year. Ex-date: 5th July 2024 Payment date: 23rd August 2024 Dividend yield will be 0.3%, which is about the same as the industry average. Sustainability & Growth Dividend is well covered by both earnings (12% earnings payout ratio) and cash flows (17% cash payout ratio). The company is yet to establish a track record of dividend growth or stability as it hasn't paid a regular dividend for at least 2 years. EPS is expected to grow by 117% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Announcement • Jun 18
Artemis Medicare Services Limited, Annual General Meeting, Jul 24, 2024 Artemis Medicare Services Limited, Annual General Meeting, Jul 24, 2024, at 16:30 Indian Standard Time. New Risk • May 25
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 3.0x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. This is currently the only risk that has been identified for the company. Reported Earnings • May 12
Full year 2024 earnings: EPS and revenues miss analyst expectations Full year 2024 results: EPS: ₹3.62 (up from ₹2.89 in FY 2023). Revenue: ₹8.86b (up 20% from FY 2023). Net income: ₹491.4m (up 27% from FY 2023). Profit margin: 5.5% (up from 5.2% in FY 2023). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 11%. Earnings per share (EPS) also missed analyst estimates by 23%. Revenue is forecast to grow 35% p.a. on average during the next 2 years, compared to a 16% growth forecast for the Healthcare industry in India. Over the last 3 years on average, earnings per share has increased by 29% per year but the company’s share price has increased by 86% per year, which means it is tracking significantly ahead of earnings growth. Announcement • May 11
Artemis Medicare Services Limited Recommends Final Dividend for Fiscal Year 2024 Artemis Medicare Services Limited recommended the final dividend of INR 0.45 per equity share of face value of INR 1 each (i.e. 45%) for the fiscal year 2024, subject to the approval of the shareholders at the upcoming annual general meeting (AGM) of the company, which shall be paid/dispatched on or before 30 days from the conclusion of AGM. Announcement • May 05
Artemis Medicare Services Limited to Report Fiscal Year 2024 Results on May 10, 2024 Artemis Medicare Services Limited announced that they will report fiscal year 2024 results on May 10, 2024 Announcement • Apr 07
Artemis Medicare Services Limited announced that it expects to receive INR 3.3 billion in funding from International Finance Corporation Artemis Medicare Services Limited announced a private placement of up to 33,000 fully paid unsecured compulsorily convertible debentures at a price of INR 100,000 per debenture for the gross proceeds of INR 3,300,000,000 on April 5, 2024. The transaction will include participation from new investor International Finance Corporation. The debentures carry interest rate of 2.65% per annum, compounded quarterly on a cumulative basis and shall be convertible into 1,89,62,247 equity shares of the company having a face value of INR 1 each, in one or more tranches, within a period up to 18 months from the date of allotment, at a conversion price of INR 174.03 per equity share. The transaction has ben approved by the shareholders of the company and is subject to the approval of the shareholders meeting to be held on May 3, 2024. New Risk • Apr 07
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 2.1% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Minor Risks High level of debt (62% net debt to equity). Shareholders have been diluted in the past year (2.1% increase in shares outstanding). Reported Earnings • Feb 06
Third quarter 2024 earnings released: EPS: ₹0.85 (vs ₹0.78 in 3Q 2023) Third quarter 2024 results: EPS: ₹0.85 (up from ₹0.78 in 3Q 2023). Revenue: ₹2.21b (up 18% from 3Q 2023). Net income: ₹115.5m (up 11% from 3Q 2023). Profit margin: 5.2% (down from 5.6% in 3Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 34% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Healthcare industry in India. Over the last 3 years on average, earnings per share has increased by 41% per year but the company’s share price has increased by 105% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Jan 30
Artemis Medicare Services Limited to Report Q3, 2024 Results on Feb 05, 2024 Artemis Medicare Services Limited announced that they will report Q3, 2024 results on Feb 05, 2024 New Risk • Nov 10
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 7.5% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks High level of debt (48% net debt to equity). Share price has been volatile over the past 3 months (7.5% average weekly change). Reported Earnings • Nov 09
Second quarter 2024 earnings released: EPS: ₹1.00 (vs ₹0.68 in 2Q 2023) Second quarter 2024 results: EPS: ₹1.00 (up from ₹0.68 in 2Q 2023). Revenue: ₹2.27b (up 21% from 2Q 2023). Net income: ₹135.9m (up 49% from 2Q 2023). Profit margin: 6.0% (up from 4.9% in 2Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 54% per year but the company’s share price has increased by 117% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Sep 22
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₹158, the stock trades at a trailing P/E ratio of 53.6x. Average trailing P/E is 44x in the Healthcare industry in India. Total returns to shareholders of 890% over the past three years. Board Change • Sep 01
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 2 experienced directors. 7 highly experienced directors. Non-Executive Independent Director Sunil Tandon was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Aug 04
Artemis Medicare Services Limited Approves Dividend for the Financial Year Ended March 31, 2023 Artemis Medicare Services Limited at its AGM held on August 1, 2023 approved dividend of INR 0.45 per equity share for the financial year ended March 31, 2023. Announcement • Aug 01
Artemis Medicare Services Limited to Report Q1, 2024 Results on Aug 08, 2023 Artemis Medicare Services Limited announced that they will report Q1, 2024 results on Aug 08, 2023 New Risk • Jul 27
New major risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 8.6% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks High level of debt (47% net debt to equity). Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (8.6% average weekly change). Shareholders have been diluted in the past year (2.1% increase in shares outstanding). Reported Earnings • Jul 12
Full year 2023 earnings released: EPS: ₹2.89 (vs ₹2.40 in FY 2022) Full year 2023 results: EPS: ₹2.89 (up from ₹2.40 in FY 2022). Revenue: ₹7.37b (up 33% from FY 2022). Net income: ₹386.0m (up 21% from FY 2022). Profit margin: 5.2% (down from 5.7% in FY 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 59% per year but the company’s share price has increased by 92% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Jul 08
Artemis Medicare Services Limited Proposes Final Dividend or the Financial Year Ended March 31, 2023 Artemis Medicare Services Limited announced that at its Annual General Meeting (AGM) of the Company to be held on August 1, 2023, proposes to declare dividend of INR 0.45 per equity share, for the financial year ended March 31, 2023. Valuation Update With 7 Day Price Move • Jun 30
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ₹125, the stock trades at a trailing P/E ratio of 44.1x. Average trailing P/E is 39x in the Healthcare industry in India. Total returns to shareholders of 590% over the past three years. New Risk • Jun 27
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 7.8% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks High level of debt (47% net debt to equity). Share price has been volatile over the past 3 months (7.8% average weekly change). Shareholders have been diluted in the past year (2.3% increase in shares outstanding). Announcement • Jun 23
Artemis Medicare Services Limited, Annual General Meeting, Aug 01, 2023 Artemis Medicare Services Limited, Annual General Meeting, Aug 01, 2023, at 15:00 Indian Standard Time. Valuation Update With 7 Day Price Move • Jun 15
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₹104, the stock trades at a trailing P/E ratio of 36.5x. Average trailing P/E is 38x in the Healthcare industry in India. Total returns to shareholders of 496% over the past three years. Reported Earnings • May 07
Full year 2023 earnings released: EPS: ₹2.89 (vs ₹2.40 in FY 2022) Full year 2023 results: EPS: ₹2.89 (up from ₹2.40 in FY 2022). Revenue: ₹7.45b (up 34% from FY 2022). Net income: ₹386.0m (up 21% from FY 2022). Profit margin: 5.2% (down from 5.7% in FY 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 59% per year but the company’s share price has increased by 69% per year, which means it is tracking significantly ahead of earnings growth. Announcement • May 06
Artemis Medicare Services Limited Recommends Final Dividend for 2023 Artemis Medicare Services Limited recommended the Final dividend of INR 0.45 per Equity Share of face value of INR 1 each (i.e. 45%) for 2023, subject to the approval of the shareholders at the ensuing Annual General Meeting (AGM) of the Company, which shall be paid/dispatched on or before 30 days from the conclusion of AGM. Reported Earnings • Feb 02
Third quarter 2023 earnings released: EPS: ₹0.78 (vs ₹0.49 in 3Q 2022) Third quarter 2023 results: EPS: ₹0.78 (up from ₹0.49 in 3Q 2022). Revenue: ₹1.89b (up 31% from 3Q 2022). Net income: ₹104.5m (up 61% from 3Q 2022). Profit margin: 5.5% (up from 4.5% in 3Q 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 53% per year but the company’s share price has only increased by 37% per year, which means it is significantly lagging earnings growth. Announcement • Jan 26
Artemis Medicare Services Limited to Report Q3, 2023 Results on Feb 01, 2023 Artemis Medicare Services Limited announced that they will report Q3, 2023 results on Feb 01, 2023 Reported Earnings • Aug 14
First quarter 2023 earnings released: EPS: ₹0.64 (vs ₹0.29 in 1Q 2022) First quarter 2023 results: EPS: ₹0.64 (up from ₹0.29 in 1Q 2022). Revenue: ₹1.70b (up 39% from 1Q 2022). Net income: ₹84.2m (up 117% from 1Q 2022). Profit margin: 5.0% (up from 3.2% in 1Q 2022). The increase in margin was driven by higher revenue. Valuation Update With 7 Day Price Move • Jul 26
Investor sentiment improved over the past week After last week's 21% share price gain to ₹55.90, the stock trades at a trailing P/E ratio of 20.3x. Average trailing P/E is 25x in the Healthcare industry in India. Total returns to shareholders of 50% over the past year. Reported Earnings • Jun 23
Full year 2022 earnings released: EPS: ₹2.40 (vs ₹0.49 in FY 2021) Full year 2022 results: EPS: ₹2.40 (up from ₹0.49 in FY 2021). Revenue: ₹5.55b (up 36% from FY 2021). Net income: ₹318.1m (up 391% from FY 2021). Profit margin: 5.7% (up from 1.6% in FY 2021). The increase in margin was driven by higher revenue. Valuation Update With 7 Day Price Move • May 20
Investor sentiment improved over the past week After last week's 15% share price gain to ₹43.60, the stock trades at a trailing P/E ratio of 18.1x. Average trailing P/E is 26x in the Healthcare industry in India. Total returns to shareholders of 61% over the past year. Reported Earnings • May 13
Full year 2022 earnings released: EPS: ₹2.40 (vs ₹0.49 in FY 2021) Full year 2022 results: EPS: ₹2.40 (up from ₹0.49 in FY 2021). Revenue: ₹5.59b (up 37% from FY 2021). Net income: ₹318.1m (up 391% from FY 2021). Profit margin: 5.7% (up from 1.6% in FY 2021). The increase in margin was driven by higher revenue. Valuation Update With 7 Day Price Move • Mar 31
Investor sentiment improved over the past week After last week's 16% share price gain to ₹45.75, the stock trades at a trailing P/E ratio of 17x. Average trailing P/E is 24x in the Healthcare industry in India. Total returns to shareholders of 111% over the past year. Reported Earnings • Feb 02
Third quarter 2022 earnings: Revenues and EPS in line with analyst expectations Third quarter 2022 results: EPS: ₹0.49 (up from ₹0.40 in 3Q 2021). Revenue: ₹1.45b (up 17% from 3Q 2021). Net income: ₹64.9m (up 22% from 3Q 2021). Profit margin: 4.5% (up from 4.3% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Buying Opportunity • Jan 18
Now 23% undervalued Over the last 90 days, the stock is up 40%. The fair value is estimated to be ₹58.45, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 18% over the last year. Valuation Update With 7 Day Price Move • Dec 10
Investor sentiment improved over the past week After last week's 17% share price gain to ₹39.85, the stock trades at a trailing P/E ratio of 16.2x. Average trailing P/E is 28x in the Healthcare industry in India. Total returns to shareholders of 74% over the past year. Reported Earnings • Oct 28
Second quarter 2022 earnings released: EPS ₹0.62 (vs ₹0.011 in 2Q 2021) The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2022 results: Revenue: ₹1.40b (up 52% from 2Q 2021). Net income: ₹81.9m (up ₹80.5m from 2Q 2021). Profit margin: 5.9% (up from 0.2% in 2Q 2021). The increase in margin was driven by higher revenue. Valuation Update With 7 Day Price Move • Sep 11
Investor sentiment improved over the past week After last week's 15% share price gain to ₹367, the stock trades at a trailing P/E ratio of 19.4x. Average trailing P/E is 35x in the Healthcare industry in India. Total returns to shareholders of 125% over the past year. Reported Earnings • Aug 06
First quarter 2022 earnings released: EPS ₹2.93 (vs ₹8.83 loss in 1Q 2021) The company reported a strong first quarter result with improved earnings, revenues and profit margins. First quarter 2022 results: Revenue: ₹1.23b (up 96% from 1Q 2021). Net income: ₹38.8m (up ₹155.8m from 1Q 2021). Profit margin: 3.2% (up from net loss in 1Q 2021). The move to profitability was driven by higher revenue. Reported Earnings • Jun 28
Full year 2021 earnings released: EPS ₹4.90 (vs ₹14.95 in FY 2020) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2021 results: Revenue: ₹4.08b (down 28% from FY 2020). Net income: ₹64.9m (down 67% from FY 2020). Profit margin: 1.6% (down from 3.5% in FY 2020). Recent Insider Transactions • Jun 25
Insider recently bought ₹757k worth of stock On the 18th of June, Prem Wahal bought around 3k shares on-market at roughly ₹301 per share. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought ₹1.8m more in shares than they have sold in the last 12 months. Valuation Update With 7 Day Price Move • May 17
Investor sentiment improved over the past week After last week's 22% share price gain to ₹281, the stock trades at a trailing P/E ratio of 57.2x. Average trailing P/E is 44x in the Healthcare industry in India. Total returns to shareholders of 87% over the past year. Reported Earnings • May 11
Full year 2021 earnings released: EPS ₹4.90 (vs ₹14.95 in FY 2020) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2021 results: Revenue: ₹4.12b (down 27% from FY 2020). Net income: ₹64.9m (down 67% from FY 2020). Profit margin: 1.6% (down from 3.5% in FY 2020). 
