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Artemis Medicare Services Ltd.
(ARTEMISMED)
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Rating:72Outperform
Price Target:
₹376.00
▲(36.13% Upside)
Action:Upgraded
Date:07/30/26
The score is driven primarily by strong financial performance (robust growth, improved margins, and healthier leverage), supported by a positive technical trend with the stock trading above key moving averages. The main constraints are uneven free-cash-flow consistency and a relatively high P/E multiple, which reduces valuation attractiveness.
Positive Factors
Sustained Revenue Growth
Revenue expansion from approximately 4.1B in 2021 to 10.8B in 2026, with growth remaining positive through 2026, indicates sustained business scaling. A larger revenue base can support reinvestment, operating efficiency, and stronger earnings capacity over the next several quarters.
Negative Factors
Uneven Free Cash Flow
Although operating cash flow is consistently positive, the history of negative free cash flow followed by later recovery shows that cash generation after capital spending has not been consistent. Uneven conversion can constrain internally funded growth and reduce resilience if investment needs remain high.
Read all positive and negative factors
Positive Factors
Negative Factors
Sustained Revenue Growth
Revenue expansion from approximately 4.1B in 2021 to 10.8B in 2026, with growth remaining positive through 2026, indicates sustained business scaling. A larger revenue base can support reinvestment, operating efficiency, and stronger earnings capacity over the next several quarters.
Read all positive factors
Artemis Medicare Services Ltd. (ARTEMISMED) vs. iShares MSCI India ETF (INDA)
Market Cap
₹52.43B
Dividend Yield0.13%
Average Volume (3M)31.41K
Price to Earnings (P/E)44.3
Beta (1Y)0.92
Revenue Growth14.96%
EPS Growth20.76%
CountryIN
Employees2,055
SectorGeneral
Sector StrengthN/A
IndustryMedical - Care Facilities
Share Statistics
EPS (TTM)7.64
Shares Outstanding158,306,240
10 Day Avg. Volume38,856
30 Day Avg. Volume31,414
Financial Highlights & Ratios
PEG Ratio1.41
Price to Book (P/B)3.47
Price to Sales (P/S)3.00
P/FCF Ratio100.85
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)8.28
Revenue Forecast (FY)₹13.60B
Artemis Medicare Services Ltd. Business Overview & Revenue Model
Company Description
Artemis Medicare Services Limited engages in the management and operation of multi-specialty hospitals in India and internationally. The company provides medical and surgical intervention, and inpatient and outpatient services. It also offers bill...
Artemis Medicare Services Ltd. Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
74
Positive
Cash Flow
58
Neutral
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 11.14B | 10.81B | 9.37B | 8.79B | 7.37B | 5.53B |
| Gross Profit | 2.20B | 2.15B | 2.23B | 1.78B | 1.04B | 954.40M |
| EBITDA | 2.05B | 1.88B | 1.52B | 1.25B | 1.01B | 713.53M |
| Net Income | 1.14B | 1.04B | 826.26M | 491.41M | 385.98M | 318.14M |
Balance Sheet | ||||||
| Total Assets | 0.00 | 14.29B | 13.57B | 9.72B | 9.05B | 7.10B |
| Cash, Cash Equivalents and Short-Term Investments | 334.05M | 2.06B | 3.96B | 612.05M | 509.42M | 276.98M |
| Total Debt | 0.00 | 2.62B | 2.90B | 3.20B | 2.86B | 2.01B |
| Total Liabilities | -9.41B | 4.88B | 5.14B | 5.17B | 4.97B | 3.48B |
| Stockholders Equity | 9.41B | 9.35B | 8.38B | 4.48B | 4.03B | 3.59B |
Cash Flow | ||||||
| Free Cash Flow | 136.32M | 321.88M | 524.65M | 363.01M | -337.68M | -573.20M |
| Operating Cash Flow | 804.83M | 1.37B | 1.46B | 1.09B | 1.13B | 515.80M |
| Investing Cash Flow | -681.67M | -1.19B | -3.85B | -891.04M | -1.58B | -1.08B |
| Financing Cash Flow | -270.77M | -265.64M | 2.67B | -41.48M | 521.82M | 528.37M |
Artemis Medicare Services Ltd. Technical Analysis
Positive
276.20
Price Trends
309.65
Positive
287.69
Positive
266.32
Positive
Market Momentum
7.62
Positive
57.94
Neutral
46.34
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:ARTEMISMED, the sentiment is Positive. The current price of 276.2 is below the 20-day moving average (MA) of 330.77, below the 50-day MA of 309.65, and above the 200-day MA of 266.32, indicating a bullish trend. The MACD of 7.62 indicates Positive momentum. The RSI at 57.94 is Neutral, neither overbought nor oversold. The STOCH value of 46.34 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:ARTEMISMED.
Artemis Medicare Services Ltd. Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
72 Outperform | ₹52.43B | 44.31 | ― | 0.13% | 14.96% | 20.76% | |
70 Outperform | ₹67.19B | 26.99 | ― | 0.24% | 14.96% | 14.62% | |
64 Neutral | ₹90.92B | 48.98 | ― | 0.07% | 18.23% | -2.62% | |
62 Neutral | ₹103.14B | 60.61 | ― | 0.04% | 44.00% | 24.10% | |
59 Neutral | ₹149.52B | 51.77 | ― | 0.24% | 18.30% | 10.86% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
46 Neutral | ₹14.92B | 38.89 | ― | 0.44% | 6.50% | ― |
* General Sector Average
IN:ARTEMISMED
Artemis Medicare Services Ltd.
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Artemis Medicare Services Ltd. Corporate Events
Artemis Medicare Announces Completion of Independent Director’s Tenure
Aug 3, 2026
Artemis Medicare Services Ltd. has announced that independent director Mr. Sanjib Sen has completed his tenure and ceased to be a director of the company effective August 2, 2026. The change, disclosed in line with SEBI listing regulations, signal...
Artemis Medicare Sets Virtual AGM, Moves to Fully Digital Annual Report Access
Jul 7, 2026
Artemis Medicare Services Ltd., operator of Artemis Hospital in Gurugram and other healthcare facilities, is a listed Indian hospital and clinical services provider, trading under the symbol ARTEMISMED on NSE and scrip code 542919 on BSE. The comp...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.