Sun Pharmaceutical Industries Ltd.
NSE: SUNPHARMA
Healthcare · Drug Manufacturers - Specialty & Generic
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Research updated
Krishna Institute of Medical Sciences Ltd.
NSE: KIMSHealthcareMedical Care Facilities
- Last close
- ₹665.15
- Day change
- −₹3.40 (−0.51%)vs
- Market cap
- ₹28,924 crIndian rupees
- Research updated
- 1 report
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About Krishna Institute of Medical Sciences
Krishna Institute of Medical Sciences Ltd. operates as one of India's prominent healthcare service providers. It functions primarily by delivering extensive healthcare services through a network of multi-specialty hospitals. With a strong focus on medical excellence, KIMS strives to offer comprehensive treatments ranging from basic to advanced care across diverse branches of medicine. It significantly impacts sectors such as cardiology, neurology, orthopedics, and oncology, serving a vast demographic both regionally and nationally. KIMS has established itself as a pivotal player in the healthcare market by continually enhancing patient care through cutting-edge technology and skilled medical personnel. Its emphasis on providing affordable and quality healthcare solutions makes it a critical asset in addressing the medical needs of the burgeoning Indian population. Headquartered in Hyderabad, KIMS's strategic expansion and commitment to community welfare enhance its market standing and underscore its vital role in the overarching healthcare landscape of India.
- Sector
- Healthcare
- Industry
- Medical Care Facilities
- Listing
- NSE: KIMS
- Chief executive
- Dr. Abhinay Bollineni
- Employees
- 5,264
- Headquarters
- Secunderabad, India
- ISIN
- INE967H01025
- Website
- kimshospitals.com
Public research · Report of
Business model & financial foundation
KIMS Hospitals (NSE: KIMS), Medical Care Facilities / multispecialty hospitals: revenue of ₹3,905 crore in FY26 (+28.6% on FY25), an EBITDA margin of 20.5%, net profit of ₹241.4 crore and net debt of ₹3,154 crore.
- Revenue, FY26 (₹ crore)
- 3,905
- consolidated
- Revenue growth, FY26
- +28.6%
- on FY25
- EBITDA margin, FY26
- 20.5%
- EBITDA excluding other income / revenue
- Net profit, FY26 (₹ crore)
- 241.4
- to owners
- Return on equity, FY26
- 9.7%
- on average equity
- Net debt, FY26 (₹ crore)
- 3,154
- Borrowings excluding leases less cash bank balances current investments
- Market capitalisation (₹ crore)
- 30,677
- at the close of 15 Oct 2026
Company profile
KIMS Hospitals provides integrated tertiary and quaternary medical and healthcare services through the listed parent and controlled hospital entities, with a regional base in Telangana and Andhra Pradesh and expansion into other states. Consolidated reporting is appropriate for its hospital network, while non-controlling interests and associates require separate attention. At30Jun2026 the group presentation reports7,459 capacity beds versus5,639 operational beds; planned beds and O&M capacity must not be conflated with these measures.
| Item | Value |
|---|---|
| Legal name | Krishna Institute of Medical Sciences Limited |
| Exchange and ticker | NSE: KIMS; BSE: 543308 |
| ISIN | INE967H01025 |
| CIN | L55101TG1973PLC040558 |
| Sector | Healthcare |
| Industry | Medical Care Facilities / multispecialty hospitals |
| Headquarters | Secunderabad, India |
| Fiscal year end | March |
| Reporting basis and unit | consolidated, in ₹ crore |
| Auditor | S. R. Batliboi & Associates LLP |
| Market capitalisation | ₹30,677 crore (15 Oct 2026) |
| Shares outstanding | 40.01 crore shares (FY26) |
| Price | ₹693.0 (close, 15 Oct 2026) |
| 52-week range | ₹575.8 - ₹858.0 (to 15 Oct 2026) |
| Website | https://www.kimshospitals.com |
Corporate structure and shareholding
| Entity | Holding | Business |
|---|---|---|
| Arunodaya Hospitals Private Limited | 65.95% | Hospital and healthcare services |
| KIMS Hospital Enterprises Private Limited | 90.97% | Hospital and healthcare services; material subsidiary |
| Iconkrishi Institute of Medical Sciences Private Limited | 51% | Hospital and healthcare services |
| Saveera Institute of Medical Sciences Private Limited | 74.57% | Hospital and healthcare services |
| KIMS Hospitals Private Limited | 100% | Hospital and healthcare services |
| KIMS Swastha Private Limited | 100% | Hospital and healthcare services |
| KIMS Hospital Bengaluru Private Limited | 79.94% | Hospital and healthcare services |
| KIMS Hospital Kurnool Private Limited | 55% | Hospital and healthcare services |
| Sarvejana Healthcare Private Limited | 76.24% | Hospital and healthcare services; material subsidiary |
| SPANV Medisearch Lifesciences Private Limited | 69.3% | Hospital and healthcare services |
| KIMS Manavata Hospitals Private Limited | 51% | Hospital and healthcare services |
| Meda Institute of Podiatry Private Limited | 51% | Healthcare / podiatry services |
| Chalasani Hospitals Private Limited | 100% | QNRI hospital and healthcare services |
Holdings are the FY26 AR snapshot at31Mar2026, not certified15Oct holdings. Kondapur Healthcare Limited40.51% is an associate, not a subsidiary (S2). See capital.json stake changes. S61/S62:6Oct proposals up to51% Insignia and22% Splendid are not completed holdings. Auditor reappointed29Aug2024 to27th AGM; first tenure not retrieved. No corporate parent identified; former names not retrieved.
| Shareholding (% of shares) | Q2FY26 | Q3FY26 | Q4FY26 | Q1FY27 |
|---|---|---|---|---|
| Promoter | 34.11% | 34.11% | 34.11% | 32.50% |
| Promoter holding pledged | 0.00% | 3.66% | 10.26% | 10.26% |
| Foreign institutions | 15.03% | 14.33% | 14.57% | 14.74% |
| Domestic institutions | 32.12% | 32.71% | 32.50% | 34.43% |
| of which mutual funds | 26.72% | 27.50% | 27.41% | 28.52% |
| Retail | 18.74% | 18.85% | 18.82% | 18.33% |
The promoter holding pledged is a share of the promoter's own holding.
Business model
KIMS (NSE: KIMS, BSE 543308) runs multispecialty tertiary and quaternary hospitals under the KIMS Hospitals brand. The core is Telangana (Secunderabad flagship, Kondapur, Gachibowli) and Andhra Pradesh (Nellore, Vizag, Rajahmundry, Ongole, Anantapur, Kurnool, Srikakulam, Guntur). Since FY25 it has expanded into Maharashtra (Nagpur, Nashik, Thane, Sangli O&M), Kerala (Kannur, Kollam, Palakkad) and Karnataka (Mahadevapura, Electronic City). It earns per occupied bed-day (ARPOB 47,200 in Q1FY27), and out-patient and pharmacy income is embedded in the revenue identity. Payer mix in Q1FY27 was cash 52%, insurance 32%, corporate 12% and Aarogyasri 4%. Doctors are paid largely through professional fees inside other expenses, which is why that line carries most of the start-up drag. The group holds subsidiaries with minorities (KIMS Hospital Enterprises 90.97%, Sarvejana 76.24%, Bengaluru 79.94%) and a 40.51% associate, Kondapur Healthcare.
| Segment | revenue, FY26 (₹ crore) | Share | ebitda, FY26 (₹ crore) | Share |
|---|---|---|---|---|
| Telangana (later cluster incl. Sunshine) | 2,242 | 57.0% | 682.0 | 82.3% |
| Andhra Pradesh | 949.6 | 24.2% | 233.7 | 28.2% |
| Maharashtra | 465.4 | 11.8% | -4.30 | -0.5% |
| Kerala | 171.3 | 4.4% | 7.80 | 0.9% |
| Karnataka | 102.5 | 2.6% | -91.0 | -11.0% |
Segments as the company reports them (consolidated); each share is of the segments' sum.
| Peer | Why the dossier compares them |
|---|---|
| Apollo Hospitals Enterprise Limited (APOLLOHOSP) | |
| Max Healthcare Institute Limited (MAXHEALTH) | High-acuity metro hospital and capacity-ramp benchmark; North/metro pricing and network reporting differ from KIMS regional mix. |
| Fortis Healthcare Limited (FORTIS) | |
| Narayana Hrudayalaya Limited (NH) | Affordable high-volume complex care and Bengaluru overlap; Cayman/UK and insurance exposure limit India-only comparability. |
| Rainbow Children's Medicare Limited (RAINBOW) | Hyderabad/South India competition and hospital expansion economics; paediatric/maternity specialization and seasonality differ. |
| Global Health Limited (Medanta) (MEDANTA) | Tertiary/quaternary clinical-acuity and new-hospital ramp benchmark; predominantly North/East and higher-acuity case mix. |
| Aster DM Quality Care Limited (formerly Aster DM Healthcare) (ASTERDM) | South/Central hospital competitor; QCIL merger effective1Jul2026 changes group basis. KIMSHEALTH brand is distinct from NSE KIMS. |
Financial databook
| Profit and loss (₹ crore) | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue from operations | 1,651 | 2,168 | 2,498 | 3,035 | 3,905 |
| Cost of revenue (vendor classification) * | 617.1 | 827.1 | 952.7 | 1,126 | 1,443 |
| Other operating costs (vendor classification) * | 839.4 | 735.5 | 869.5 | 1,099 | 1,573 |
| EBITDA (vendor classification) * | 545.6 | 625.0 | 649.8 | 797.0 | 825.0 |
| EBIT * | 472.9 | 514.2 | 506.1 | 646.8 | 530.6 |
| Finance costs | 16.0 | 29.3 | 47.0 | 90.3 | 202.5 |
| Profit before tax including associates | 456.9 | 484.9 | 459.6 | 558.1 | 333.9 |
| Total tax expense | 113.1 | 119.1 | 123.6 | 143.3 | 91.9 |
| Profit for year before NCI attribution | 343.8 | 365.8 | 336.0 | 414.8 | 242.0 |
| Diluted EPS post 5-for-1 split (₹) | 8.38 | 8.41 | 7.75 | 9.61 | 6.03 |
| Medical consumables and pharmacy purchases net of inventory change | 530.3 | 626.9 | 808.9 | ||
| Employee benefits expense | 422.4 | 499.5 | 681.7 | ||
| Other expenses including fees not separately presented | 905.1 | 1,126 | 1,612 | ||
| EBITDA excluding other income | 640.4 | 782.9 | 802.0 | ||
| Other income | 13.1 | 31.9 | 26.2 | ||
| Depreciation and amortisation expense | 146.5 | 177.2 | 283.2 | ||
| Exceptional items signed as effect on profit | 0.00 | 10.8 | -11.2 | ||
| Share of associate profit or loss net of tax | -0.27 | 0.00 | 2.60 | ||
| Profit attributable to non-controlling interests | 25.9 | 30.3 | 0.60 | ||
| Profit attributable to owners of parent | 310.1 | 384.5 | 241.4 |
| Balance sheet (₹ crore) | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Total equity * | 1,411 | 1,938 | 2,093 | 2,419 | 2,559 |
| Current and non-current borrowings excluding lease liabilities | 256.5 | 678.2 | 1,046 | 1,911 | 3,244 |
| Cash bank balances and current investments | 25.6 | 61.6 | 132.0 | 102.5 | 89.8 |
| Trade receivables * | 128.6 | 252.7 | 294.4 | 395.4 | 554.2 |
| Inventories * | 36.4 | 42.9 | 49.4 | 64.0 | 96.9 |
| Trade payables * | 129.5 | 174.3 | 197.2 | 269.1 | 322.8 |
| Net property, plant and equipment * | 510.2 | 664.2 | 803.1 | 1,147 | 1,987 |
| Capital work in progress * | 20.8 | 476.9 | 600.1 | 1,430 | 739.6 |
| Total assets * | 1,907 | 2,941 | 3,852 | 5,736 | 7,759 |
| Borrowings excluding leases less cash bank balances current investments | 914.3 | 1,808 | 3,154 | ||
| Current and non-current lease liabilities | 309.1 | 650.7 | 1,009 |
| Cash flow (₹ crore) | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Cash from operations, after taxes | 370.5 | 454.5 | 468.2 | 581.8 | 510.8 |
| Free cash flow (vendor definition) * | 153.7 | -142.4 | -126.3 | -427.1 | -917.1 |
| Capex cash outflow (negative) | -170.0 | -571.9 | -645.9 | -1,009 | -1,428 |
| Other reported lines (₹ crore) | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Shares outstanding * | 39.72 | 40.01 | 40.01 | 40.01 | 40.01 |
| Quarterly profit and loss (₹ crore) | Q2FY25 | Q3FY25 | Q4FY25 | Q1FY26 | Q2FY26 | Q3FY26 | Q4FY26 | Q1FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue from operations | 777.3 | 772.4 | 796.9 | 871.6 | 960.7 | 997.7 | 1,075 | 1,180 |
| Cost of revenue (vendor classification) * | 155.5 | 161.8 | 666.5 | 335.0 | 195.2 | 196.9 | 412.7 | 457.3 |
| Other operating costs (vendor classification) * | 284.5 | 295.9 | -463.2 | 344.0 | 387.0 | 425.6 | 455.4 | 498.8 |
| EBITDA (vendor classification) * | 223.1 | 205.0 | 211.9 | 199.7 | 208.2 | 204.1 | 218.8 | 240.8 |
| EBIT * | 182.1 | 160.3 | 159.3 | 146.3 | 141.8 | 125.4 | 122.9 | 140.0 |
| Finance costs | 19.9 | 25.7 | 26.7 | 32.6 | 45.0 | 56.8 | 68.1 | 83.4 |
| Profit before tax including associates and exceptional items | 162.2 | 134.6 | 134.0 | 113.7 | 96.8 | 68.6 | 54.8 | 56.6 |
| Total tax expense | 41.5 | 42.1 | 27.9 | 28.7 | 24.8 | 16.7 | 21.7 | 19.2 |
| Profit for period including associates before NCI attribution | 120.7 | 92.5 | 106.1 | 85.0 | 72.0 | 51.9 | 33.1 | 37.4 |
| Diluted EPS post 5-for-1 split (₹) | 2.68 | 2.22 | 2.54 | 1.96 | 1.67 | 1.33 | 1.06 | 1.04 |
| Medical consumables and pharmacy purchases net of inventory change | 155.5 | 161.8 | 167.1 | 184.0 | 195.2 | 196.9 | 232.8 | 244.7 |
| Employee benefits expense | 119.2 | 127.5 | 134.1 | 151.0 | 174.5 | 176.3 | 179.9 | 212.6 |
| Other expenses including doctor fees not separately disclosed | 284.5 | 295.9 | 297.7 | 344.0 | 387.0 | 425.6 | 455.4 | 498.8 |
| EBITDA excluding other income | 218.1 | 187.2 | 198.0 | 192.6 | 204.0 | 198.9 | 206.5 | 223.4 |
| Other income | 5.00 | 17.8 | 4.50 | 7.10 | 4.20 | 5.20 | 9.70 | 16.4 |
| Depreciation and amortisation expense | 41.0 | 44.7 | 52.6 | 53.4 | 66.1 | 78.7 | 85.0 | 100.8 |
| Exceptional items signed as effect on profit | 0.00 | 0.00 | 10.8 | 0.00 | -0.30 | 0.00 | -10.9 | 0.00 |
| Share of profit or loss of associate net of tax | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 2.60 | 1.00 |
| Profit attributable to non-controlling interests | 13.3 | 3.80 | 4.30 | 6.40 | 5.10 | -1.50 | -9.40 | -4.10 |
| Profit attributable to owners of parent | 107.4 | 88.7 | 101.8 | 78.6 | 66.9 | 53.4 | 42.5 | 41.5 |
Consolidated, as reported. Lines marked * are the market-data provider's figures; the rest are extracted from the company's filings or derived from them. n.d. not disclosed, n.r. not retrieved, n.a. not applicable.
Metrics dashboard
| Metric | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue growth | 25.8% | 31.3% | 15.2% | 21.5% | 28.6% |
| EBITDA margin | 25.6% | 25.8% | 20.5% | ||
| Net margin | 12.4% | 12.7% | 6.2% | ||
| Return on equity | 15.4% | 17.0% | 9.7% | ||
| Return on capital employed | 33.1% | 24.0% | 17.6% | 17.3% | 10.5% |
| Return on assets | 9.1% | 8.0% | 3.6% | ||
| Net debt (₹ crore) | 914.3 | 1,808 | 3,154 | ||
| Net debt / EBITDA | 1.43x | 2.31x | 3.93x | ||
| Interest cover | 29.5x | 17.5x | 10.8x | 7.16x | 2.62x |
| Asset turnover | 0.99x | 0.89x | 0.74x | 0.63x | 0.58x |
| Receivable days | 28 | 43 | 43 | 48 | 52 |
| Inventory days (on revenue) | 8 | 7 | 7 | 8 | 9 |
| Payable days (on revenue) | 29 | 29 | 29 | 32 | 30 |
| Cash conversion | 1.51x | 1.51x | 2.12x | ||
| Capex intensity | 10.3% | 26.4% | 25.9% | 33.2% | 36.6% |
| Free cash flow (₹ crore) | 200.5 | -117.4 | -177.8 | -427.1 | -917.1 |
| EPS, diluted (₹) | 8.38 | 8.41 | 7.75 | 9.61 | 6.03 |
| Book value per share (₹) | 35.52 | 48.43 | 52.31 | 60.45 | 63.94 |
Computed from the statements above:
- Revenue growth: revenue over the previous year's, less one.
- EBITDA margin: EBITDA excluding other income / revenue.
- Net margin: net profit to owners / revenue.
- Return on equity: net profit to owners / average equity.
- Return on capital employed: EBIT / average equity plus borrowings.
- Return on assets: net profit to owners / average total assets.
- Net debt (₹ crore): Borrowings excluding leases less cash bank balances current investments; negative is net cash.
- Net debt / EBITDA: net debt / EBITDA excluding other income.
- Interest cover: EBIT / finance cost.
- Asset turnover: revenue / average total assets.
- Receivable days: receivables / revenue x 365.
- Inventory days (on revenue): inventory / revenue x 365.
- Payable days (on revenue): payables / revenue x 365.
- Cash conversion: cash from operations / net profit to owners.
- Capex intensity: capital expenditure / revenue.
- Free cash flow (₹ crore): cash from operations less capital expenditure.
- EPS, diluted (₹): as reported (Diluted EPS post 5-for-1 split).
- Book value per share (₹): equity / shares outstanding.
Source: the company's filings and disclosures as extracted into Mool's company dossier (version 1, information to 15 Oct 2026); market data at the close of 15 Oct 2026. Every figure is read from the dossier's files or computed from them; the account of the business model is the analyst's, from the dossier's workings.
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Report history
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Prices are the last close on the NSE, 23 Oct 2026. Research from Mool’s report of 15 Oct 2026; page updated 25 Oct 2026.
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