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Pan-India specialty hospital chain focused on cancer (oncology) diagnosis and treatment.
Pan-India specialty hospital chain focused on cancer (oncology) diagnosis and treatment.
Cancer care is billed per treatment course, whether radiation, chemotherapy or surgery, and paid by insurers, government health schemes and patients directly. Radiation machines, buildings and specialist doctors are largely fixed costs, so results depend on how full each centre is, and newer centres in new cities take time to fill.
In one line: India's dedicated cancer-hospital network.
Moat: narrow (brand, process know-how). Focused oncology specialization and a network of dedicated cancer centres across multiple cities.
Headquarters: Bengaluru, India · Founded: 1989 · Employees: 8,355
Size HealthCare Global Enterprises (HCG.NS) is an India Health Care company (Hospital/Nursing Management) with a market value of $950M, the 610th largest of 1,058 India companies the cockpit tracks. Shares closed at ₹600.25 on 6 Nov 2026.
Performance Over six months the shares fell 2.2%, against +0.8% for the median peer and 0.0% for the India market (cap-weighted) — 9th lowest of 20 in its peer set.
Growth Revenue grew 13.7% over the last twelve months (peer median +14.9%); the operating margin is 8.2% (peer median 10.4%).
Valuation It trades at 67.3× forward earnings against a peer median of 28.3× (3rd most expensive of 16).
Capital Return on invested capital runs 2.5 points above its cost of capital (9.0% WACC).
Next results Next results expected around 11 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | ₹26.2B | ₹25.4B | ₹22.2B | ₹19.1B | ₹16.9B |
| Revenue growth | — | +14% | +16% | +13% | — |
| Gross profit | ₹12.4B | ₹5.50B | ₹4.71B | ₹4.26B | ₹3.67B |
| EBITDA | ₹4.73B | ₹4.69B | ₹3.86B | ₹3.28B | ₹3.29B |
| Net income | ₹228M | ₹138M | ₹444M | ₹482M | ₹293M |
| Free cash flow | n/a | -₹158M | ₹415M | ₹406M | ₹770M |
| Capital expenditure | n/a | ₹2.92B | ₹2.09B | ₹1.86B | ₹1.33B |
| Total debt | n/a | ₹17.4B | ₹18.4B | ₹12.7B | ₹9.01B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| HealthCare Global Enterprises HCG.NS | $950M | -2% | +14% | 8% | 67.3× | n/a |
| Apollo Hospitals Enterprise APOLLOHOSP.NS | $12.8B | +8% | +19% | 12% | 49.3× | 32.2% |
| Max Healthcare Institute MAXHEALTH.NS | $9.61B | -8% | +15% | 21% | 49.7× | 43.2% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | HCG.NS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -8.7% | -0.6% | 2nd lowest of 20 |
| 6-month return | -2.2% | +0.8% | 9th lowest of 20 |
| Distance from 52-week high | -22.6% | -17.1% | 7th lowest of 20 |
| Revenue growth (TTM) | +13.7% | +14.9% | 10th lowest of 21 |
| Operating margin | 8.2% | 10.4% | 7th lowest of 20 |
| Forward P/E | 67.3× | 28.3× | 3rd most expensive of 16 |
| ROIC minus cost of capital | +2.5 pp | -2.3 pp | 5th highest of 20 |
| EV / EBITDA | 19.0× | 14.3× | 7th most expensive of 17 |
| Net debt / EBITDA | 2.5× | 2.2× | 8th most indebted of 18 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| HealthCare Global Enterprises HCG.NS | India | $950M | -2% | +14% | 8% | 67.3× | n/a | n/a |
| Thomson Medical A50.SI | Singapore | $953M | -21% | +6% | 10% | n/a | 20.9% | +11.8% |
| Clinica Baviera CBAV.MC | Spain | $940M | -7% | +11% | 20% | 18.2× | 0.7% | +19.7% |
| Jupiter Life Line Hospitals JLHL.NS | India | $1,000M | +14% | +17% | 16% | 48.5× | n/a | n/a |
| Yatharth Hospital and Trauma Care Services YATHARTH.NS | India | $1.05B | +25% | +50% | 16% | 41.0× | n/a | n/a |
| Paras Healthcare PARASHLTH.NS | India | $844M | n/a | +24% | 11% | n/a | n/a | n/a |
| Rhon-klinikum RHK.DE | Germany | $1.08B | +14% | +5% | 3% | 22.5× | n/a | n/a |
| Ramsay Generale de Sante GDS.PA | France | $1.09B | -15% | +3% | 4% | n/a | 6.3% | +6.0% |
| Park Medi World PARKHOSPS.NS | India | $1.15B | +2% | +21% | n/a | 28.3× | 30.5% | +10.2% |
| CVS CVSG.L | United Kingdom | $1.23B | +20% | +6% | 11% | 14.3× | 13.7% | +6.9% |
| Raffles Medical BSL.SI | Singapore | $1.25B | -15% | -3% | 11% | 27.3× | -2.4% | +6.1% |
| Kovai Medical Center & Hospital KOVAI.NS | India | $689M | +4% | +15% | 21% | n/a | 16.3% | +18.1% |
| Rainbow Childrens Medicare RAINBOW.NS | India | $1.34B | -4% | +23% | 22% | 39.4× | 30.2% | +21.2% |
| Spire Healthcare SPI.L | United Kingdom | $1.34B | +68% | +2% | 8% | 19.5× | 9.8% | +11.4% |
| Sanbo Hospital Management 301293.SZ | China | $1.48B | -21% | +17% | 6% | 148.9× | n/a | n/a |
| Aevis Victoria AEVS.SW | Switzerland | $1.49B | +9% | +15% | -6% | 107.9× | 26.6% | +10.2% |
| Xi'an International Medical Investment 000516.SZ | China | $1.54B | 0% | -1% | -2% | n/a | 13.6% | +20.6% |
| Sienna Senior Living SIA.TO | Canada | $1.63B | -11% | +16% | 10% | 38.1× | 19.6% | +8.6% |
| Garofalo Health Care GHC.MI | Italy | $540M | +1% | +4% | 10% | 20.9× | 1.8% | +18.3% |
| Artemis Medicare Services ARTEMISMED.NS | India | $514M | +16% | +15% | 14% | 37.6× | 45.8% | +21.5% |
| Extendicare EXE.TO | Canada | $1.87B | -9% | +31% | 9% | 19.4× | 11.2% | +8.5% |