Artemis Medicare Services operates within the hospital and healthcare services industry, where financial robustness and operational efficiency are critical. The company’s market capitalisation grade remains at 3, reflecting its mid-sized stature within the sector. On 19 November 2025, a call change was recorded, reflecting an adjustment in the company’s overall score grade, which was last updated on 18 November 2025. This adjustment is underpinned by shifts in four key parameters: quality, valuation, financial trend, and technicals.
Starting with the quality parameter, Artemis Medicare Services demonstrates a mixed profile. While the company’s return on equity (ROE) averaged 9.51%, indicating modest profitability relative to shareholders’ funds, this figure suggests room for improvement in management efficiency. The company’s return on capital employed (ROCE) for the half-year period stands at 13.34%, which is comparatively stronger and signals effective utilisation of capital in generating earnings. The debt-equity ratio at 0.32 times remains low, underscoring a conservative capital structure that favours financial stability. These quality metrics collectively contribute to the nuanced evaluation of the company’s operational soundness.
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In terms of valuation, Artemis Medicare Services is trading at a price of ₹282.00 as of the latest session, with a day change of 3.94%. The stock’s 52-week high and low are ₹348.30 and ₹208.75 respectively, indicating a wide trading range over the past year. The price-to-book value ratio stands at 5.1, which suggests that the stock is priced at a premium relative to its book value but remains below some peer averages historically. The company’s price-earnings-to-growth (PEG) ratio is 1.7, reflecting the relationship between its valuation and earnings growth. Over the past year, the stock has generated a return of 0.77%, while net profits have risen by 46.9%, highlighting a divergence between market price movement and underlying earnings growth.
Financial trends have been a significant driver behind the adjustment in evaluation. Artemis Medicare Services reported very positive financial performance in the quarter ending September 2025, with several key metrics reaching their highest levels in recent periods. Operating cash flow for the year is recorded at ₹139.08 crores, the highest to date, signalling strong cash generation capabilities. Net sales for the quarter reached ₹274.70 crores, while profit before depreciation, interest, and taxes (PBDIT) stood at ₹50.61 crores, both marking peak quarterly figures. The operating profit to net sales ratio is at 18.42%, indicating efficient cost management relative to revenue. Earnings per share (EPS) for the quarter is ₹2.16, and the dividend per share (DPS) for the year is ₹0.45, both at their highest levels. The company’s operating profit to interest coverage ratio is 7.04 times, reflecting a robust ability to service debt obligations. These financial indicators collectively illustrate a very positive trend in Artemis Medicare’s recent performance.
Long-term growth metrics further reinforce the company’s financial trajectory. Operating profit has grown at an annual rate of 82.15%, while net profit has expanded by 41.51%. Artemis Medicare has declared positive results for seven consecutive quarters, underscoring consistency in earnings delivery. The company’s debt to EBITDA ratio is 1.34 times, which is considered low and indicative of manageable leverage. These factors contribute to the financial trend revision that has influenced the overall evaluation.
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The technical parameter has shifted from a sideways trend to a mildly bullish stance. Technical indicators present a mixed but cautiously optimistic picture. The Moving Average Convergence Divergence (MACD) is bullish on a weekly basis but mildly bearish monthly. The Relative Strength Index (RSI) shows no clear signal weekly but is bullish monthly. Bollinger Bands indicate bullish trends on both weekly and monthly charts. Daily moving averages are mildly bearish, while the Know Sure Thing (KST) indicator is bullish weekly and mildly bearish monthly. Dow Theory and On-Balance Volume (OBV) indicators both suggest mildly bullish trends on weekly and monthly timeframes. These technical signals collectively suggest a cautious positive momentum in the stock’s price action.
Examining the stock’s recent returns relative to the broader market, Artemis Medicare Services has outperformed the Sensex over short-term periods. The stock returned 12.28% over the past week and 16.6% over the last month, compared to Sensex returns of 0.96% and 0.86% respectively. However, year-to-date, the stock has recorded a negative return of 10.16%, while the Sensex gained 8.36%. Over longer horizons, Artemis Medicare’s returns have been substantially higher than the Sensex, with a three-year return of 290.85% versus 37.31% for the Sensex, and a five-year return of 1696.18% compared to 91.65%. These figures highlight the stock’s strong long-term performance despite recent short-term fluctuations.
In summary, Artemis Medicare Services’ adjustment in evaluation reflects a complex interplay of factors. The company’s financial trend shows very positive momentum with record-high operating cash flows, sales, and profits. Valuation metrics indicate the stock trades at a premium but with earnings growth that supports this pricing. Quality metrics reveal a solid capital structure and effective capital utilisation, though management efficiency as measured by ROE remains moderate. Technical indicators suggest a cautiously optimistic outlook with mild bullish signals prevailing. Investors analysing Artemis Medicare Services should weigh these factors carefully, considering both the company’s strong financial fundamentals and the nuanced technical signals.
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