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Indian (NIFTY) Healthcare Services Industry Analysis

UpdatedAug 30, 2026
DataAggregated Company Financials
Companies93
  • 7D2.7%
  • 3M7.2%
  • 1Y6.6%
  • YTD13.6%

Over the last 7 days, the Healthcare Services industry has risen 2.7%, driven by gains from Manipal Health Enterprises of 7.9%. In the last 12 months, the industry was up 6.6%. Earnings are forecast to grow by 28% annually.

Industry Valuation and Performance

Has the Indian Healthcare Services Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 30 Aug 2026₹7.5t₹1.2t₹112.2b39.6x67x6.2x
Tue, 28 Jul 2026₹6.6t₹1.0t₹101.0b44.2x65x6.3x
Thu, 25 Jun 2026₹6.4t₹1.0t₹100.5b35x63.5x6.1x
Sat, 23 May 2026₹6.2t₹1.0t₹98.2b38.7x62.8x6.1x
Mon, 20 Apr 2026₹5.7t₹980.4b₹95.2b36.7x60.1x5.8x
Wed, 18 Mar 2026₹5.4t₹979.5b₹95.1b35.2x56.9x5.5x
Fri, 13 Feb 2026₹5.8t₹963.0b₹96.1b39.1x59.9x6x
Sun, 11 Jan 2026₹5.6t₹929.9b₹93.5b40.8x60.4x6.1x
Tue, 09 Dec 2025₹5.6t₹905.5b₹90.4b41.8x61.9x6.2x
Thu, 06 Nov 2025₹6.1t₹875.1b₹83.7b44.2x72.2x6.9x
Sat, 04 Oct 2025₹5.8t₹866.6b₹82.2b45.9x70.4x6.7x
Mon, 01 Sep 2025₹5.8t₹860.5b₹81.0b46.7x71x6.7x
Wed, 30 Jul 2025₹5.8t₹827.1b₹76.6b48.9x75.9x7x
Fri, 27 Jun 2025₹5.5t₹826.5b₹76.1b48.8x72.6x6.7x
Sun, 25 May 2025₹5.3t₹811.4b₹74.9b39.6x70.9x6.5x
Tue, 22 Apr 2025₹5.2t₹798.3b₹73.7b40x70.3x6.5x
Thu, 20 Mar 2025₹4.9t₹798.3b₹73.7b35.7x66.1x6.1x
Sat, 15 Feb 2025₹4.7t₹795.1b₹73.8b38x63.1x5.9x
Mon, 13 Jan 2025₹5.1t₹746.6b₹69.4b43.3x73x6.8x
Wed, 11 Dec 2024₹5.1t₹751.2b₹69.7b46.9x73.9x6.9x
Fri, 08 Nov 2024₹4.9t₹736.4b₹69.5b48.7x70.7x6.7x
Sun, 06 Oct 2024₹4.6t₹720.0b₹67.6b45.3x67.4x6.3x
Tue, 03 Sep 2024₹4.5t₹719.7b₹67.5b48.7x66.7x6.3x
Thu, 01 Aug 2024₹4.3t₹697.0b₹63.6b48.9x68.1x6.2x
Sat, 29 Jun 2024₹4.2t₹696.2b₹63.1b47.8x66.3x6x
Mon, 27 May 2024₹3.9t₹787.2b₹62.8b39.1x62.6x5x
Wed, 24 Apr 2024₹4.0t₹772.7b₹60.6b38.6x65.7x5.2x
Fri, 22 Mar 2024₹3.8t₹772.5b₹60.5b38.7x63x4.9x
Sun, 18 Feb 2024₹4.2t₹766.9b₹60.0b44.8x70.2x5.5x
Tue, 16 Jan 2024₹3.7t₹702.7b₹55.3b41.1x66.4x5.2x
Thu, 14 Dec 2023₹3.5t₹703.0b₹55.3b39.5x63.3x5x
Sat, 11 Nov 2023₹3.3t₹690.8b₹55.5b43.7x58.6x4.7x
Mon, 09 Oct 2023₹3.1t₹675.3b₹55.7b43x55.4x4.6x
Wed, 06 Sep 2023₹3.0t₹664.9b₹54.9b43.6x54.6x4.5x
Price to Earnings Ratio

54.6x


Total Market Cap: ₹3.0tTotal Earnings: ₹54.9bTotal Revenue: ₹664.9bTotal Market Cap vs Earnings and Revenue0%0%0%
Indian Healthcare Services Industry Price to Earnings3Y Average 65.8x202420252026
Current Industry PE
  • Investors are relatively neutral on the Indian Healthcare industry at the moment, indicating that they anticipate long term growth rates to remain steady.
  • The industry is trading close to its 3-year average PE ratio of 65.8x.
  • The industry is trading close to its 3-year average PS ratio of 6.0x.
Past Earnings Growth
  • The earnings for companies in the Healthcare industry have grown 27% per year over the last three years.
  • Revenues for these companies have grown 22% per year.
  • This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Industry Trends

Which industries have driven the changes within the Indian Healthcare industry?

IN Market0.099%
Healthcare2.05%
Healthcare Services2.65%
Healthcare Distributors15.32%
Healthcare Facilities2.65%
Healthcare Services1.22%
Managed Healthcare0%0
Industry PE
  • Investors are most optimistic about the Healthcare Facilities industry, which is trading close to its 3-year average PE ratio of 67.1x.
    • Analysts are expecting annual earnings growth of 29.0%, which is higher than its past year's earnings growth of 11.2% per year.
  • Investors are most pessimistic about the Healthcare Services industry, which is trading close to its 3-year average of 57.2x.
Forecasted Growth
  • Analysts are most optimistic on the Healthcare Distributors industry, expecting annual earnings growth of 34% over the next 5 years.
  • This is roughly in line with its past earnings growth rate.
  • In contrast, the Healthcare Services industry is expected to see its earnings grow by 20% per year over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
MANIPALHOS Manipal Health Enterprises₹771.657.9%
+₹74.1b		n/aPE116.2x
NH Narayana Hrudayalaya₹1.93k6.4%
+₹23.6b		10.2%PE47.8x
APOLLOHOSP Apollo Hospitals Enterprise₹8.84k1.7%
+₹20.9b		16.1%PE60.8x
MEDANTA Global Health₹1.47k4.4%
+₹16.8b		7.1%PE71.2x
ENTERO Entero Healthcare Solutions₹1.81k27.0%
+₹16.8b		53.0%PE62.8x

Latest News

ENTERO
₹1,808.60
Entero Healthcare Solutions
7D
27.0%
1Y
53.0%
HCG
₹696.30
HealthCare Global Enterprises
7D
-4.1%
1Y
3.3%
526783
₹5,224.95
Dr. Agarwal's Eye Hospital
7D
-2.8%
1Y
16.8%
YATHARTH
₹967.40
Yatharth Hospital & Trauma Care Services
7D
13.1%
1Y
39.2%
543220
₹1,013.05
Max Healthcare Institute
7D
1.6%
1Y
-12.2%
Narrative Update • Aug 24

543220: Upcoming Board Results Will Support Stronger Lucknow Expansion Upside

Analysts have adjusted their price target for Max Healthcare Institute from ₹1,370 to about ₹1,406. This reflects updated assumptions around fair value, discount rate, revenue growth, profit margin and future P/E multiples.
APOLLOHOSP
₹8,838.50
Apollo Hospitals Enterprise
7D
1.7%
1Y
16.1%
NH
₹1,932.10
Narayana Hrudayalaya
7D
6.4%
1Y
10.2%
Narrative Update • Aug 22

NH: Future Returns Will Reflect Higher Margins And Upcoming Results Review

Analysts have raised their price target on Narayana Hrudayalaya from about ₹2,122 to roughly ₹2,213, reflecting updated views that combine a slightly lower discount rate, revised revenue growth assumptions, higher projected profit margins, and a reduced future P/E multiple. What’s in the News for Narayana Hrudayalaya Narayana Hrudayalaya has scheduled a board meeting for 31 Jul 2026.
MANIPALHOS
₹771.65
Manipal Health Enterprises
7D
7.9%
1Y
n/a
ASTERDM
₹748.40
Aster DM Quality Care
7D
-1.7%
1Y
24.5%
Narrative Update • Aug 20

ASTERDM: Future Board Realignment And Scheme Implementation Will Support Upside

Analysts have raised the Aster DM Quality Care price target from about ₹795 to about ₹932, citing updated assumptions around fair value, discount rate, revenue growth, profit margin, and future P/E as key drivers of the change. What’s in the News for Aster DM Quality Care On July 1, 2026, Aster DM Healthcare Limited changed its name to Aster DM Quality Care Limited, aligning the corporate identity with the updated scheme of arrangement.
VIJAYA
₹1,452.50
Vijaya Diagnostic Centre
7D
-3.4%
1Y
44.1%
KIMS
₹771.00
Krishna Institute of Medical Sciences
7D
-1.5%
1Y
6.5%
Narrative Update • Aug 19

KIMS: Follow On Equity Issuance And Governance Moves Will Shape Balanced Outlook

The analyst price target for Krishna Institute of Medical Sciences has been raised from ₹740 to ₹775, as analysts update their fair value view in line with refreshed assumptions for discount rate, revenue growth, profit margins and future P/E. What's in the News for Krishna Institute of Medical Sciences Board meeting scheduled on 3 Aug 2026 to consider and approve the unaudited standalone and consolidated financial results for the quarter ended 30 Jun 2026.
MEDANTA
₹1,472.20
Global Health
7D
4.4%
1Y
7.1%
Narrative Update • Aug 15

MEDANTA: Guwahati Expansion And Higher Multiple Will Shape Balanced Outlook

Analysts have raised the Global Health price target from ₹1,258 to ₹1,411, citing updated assumptions on fair value, discount rate, revenue growth, profit margin and future P/E as the key drivers of this change. What’s in the News for Global Health Global Health Limited approved a revised construction plan for its upcoming Guwahati hospital at the board meeting held on July 30, 2026, increasing the proposed bed capacity from 400 beds to 650 beds.
MEDIASSIST
₹333.80
Medi Assist Healthcare Services
7D
-7.5%
1Y
-34.0%
Analysis Article • Aug 13

Medi Assist Healthcare Services Limited (NSE:MEDIASSIST) First-Quarter Results: Here's What Analysts Are Forecasting For This Year

Shareholders might have noticed that Medi Assist Healthcare Services Limited ( NSE:MEDIASSIST ) filed its quarterly...
JLHL
₹301.40
Jupiter Life Line Hospitals
7D
-2.7%
1Y
6.8%
Narrative Update • Aug 10

JLHL: Board Changes And Stock Split Will Shape Balanced Risk Reward Outlook

Analysts have lifted their price target on Jupiter Life Line Hospitals from about ₹319 to about ₹346, citing updated assumptions for revenue growth, profit margins and future P/E that together point to a different balance of risk and return in their models. What's in the News for Jupiter Life Line Hospitals Board meeting on July 31, 2026 to review unaudited standalone and consolidated financial results for the quarter ended June 30, 2026, and to consider several corporate actions.
FORTIS
₹926.75
Fortis Healthcare
7D
2.2%
1Y
1.7%
Analysis Article • Aug 09

Earnings Miss: Fortis Healthcare Limited Missed EPS By 7.1% And Analysts Are Revising Their Forecasts

Fortis Healthcare Limited ( NSE:FORTIS ) came out with its quarterly results last week, and we wanted to see how the...
ARTEMISMED
₹319.25
Artemis Medicare Services
7D
-2.1%
1Y
45.8%
Analysis Article • Aug 07

Artemis Medicare Services Limited (NSE:ARTEMISMED) First-Quarter Results Just Came Out: Here's What Analysts Are Forecasting For This Year

It's been a good week for Artemis Medicare Services Limited ( NSE:ARTEMISMED ) shareholders, because the company has...