Sun Pharmaceutical Industries Ltd.
NSE: SUNPHARMA
Healthcare · Drug Manufacturers - Specialty & Generic
₹1,745.10 last close on 21 Oct 2026 +0.12%
Research updated
Sagility India Ltd.
NSE: SAGILITYHealthcareHealth Information Services
- Last close
- ₹45.39
- Day change
- +₹1.40 (+3.18%)vs
- Market cap
- ₹21,249 crIndian rupees
- Research updated
- 4 reports
Follow Sagility India
Create an account, then follow this company for weekday briefs. You will return to Sagility India after signing in.
About Sagility India
Sagility India Ltd. operates as a prominent player in the global healthcare outsourcing industry. It specializes in providing healthcare management solutions focused on health insurance and related services. Sagility collaborates with payers and providers to enhance health outcomes and optimize operational efficiencies. The company's core offerings include claims processing, data management, and customer service support, which are crucial for streamlining healthcare operations. By leveraging advanced technology and analytics, Sagility aids its clients in managing costs and improving patient care delivery. The organization serves a wide range of sectors including insurance companies, hospitals, and healthcare providers. Sagility’s market significance is underscored by its ability to deliver cost-effective and scalable solutions, crucial for adapting to regulatory changes and growing healthcare demands worldwide. Located in India, a hub for information technology and business process outsourcing, Sagility leverages its strategic advantage to offer competitive services, making it an integral component within the healthcare outsourcing sector.
- Sector
- Healthcare
- Industry
- Health Information Services
- Listing
- NSE: SAGILITY
- Next results
- Chief executive
- Mr. Ramesh Gopalan
- Employees
- 47,307
- Headquarters
- Bengaluru, India
- ISIN
- INE0W2G01015
- Website
- sagility.com
Public research · Report of
Business model & financial foundation
Sagility (NSE: SAGILITY), Healthcare business process management: revenue of ₹7,193 crore in FY26 (+29.1% on FY25), an EBITDA margin of 24.5%, net profit of ₹924.8 crore and net debt of ₹196.2 crore.
- Revenue, FY26 (₹ crore)
- 7,193
- consolidated
- Revenue growth, FY26
- +29.1%
- on FY25
- EBITDA margin, FY26
- 24.5%
- EBITDA (Statutory operating EBITDA excluding other income) / revenue
- Net profit, FY26 (₹ crore)
- 924.8
- to owners
- Return on equity, FY26
- 10.3%
- on average equity
- Net debt, FY26 (₹ crore)
- 196.2
- Company net debt including leases
- Market capitalisation (₹ crore)
- 20,790
- at the close of 22 Oct 2026
Company profile
| Item | Value |
|---|---|
| Legal name | Sagility Limited (formerly Sagility India Limited, Sagility India Private Limited) |
| Exchange and ticker | NSE: SAGILITY; BSE: 544282 |
| ISIN | INE0W2G01015 |
| CIN | L72900KA2021PLC150054 |
| Sector | Information Technology |
| Industry | Healthcare business process management |
| Headquarters | Bengaluru, India |
| Fiscal year end | March |
| Reporting basis and unit | consolidated, in ₹ crore |
| Auditor | B S R & Co. LLP |
| Market capitalisation | ₹20,790 crore (22 Oct 2026) |
| Shares outstanding | 468.13 crore shares (FY26) |
| Price | ₹45.39 (close, 22 Oct 2026) |
| 52-week range | ₹35.83 - ₹57.89 (to 22 Oct 2026) |
| Website | https://sagility.com/ |
Corporate structure and shareholding
Parent: Sagility B.V. (BPEA EQT controlled).
| Entity | Holding | Business |
|---|---|---|
| Sagility LLC | 100% | US healthcare operations and acquisition holding company |
| Sagility Philippines B.V. | 100% | Philippines delivery operations |
| Sagility (Jamaica) Limited | 100% | Nearshore delivery |
| Sagility (Colombia) SAS | 100% | Nearshore delivery |
| BroadPath group | 100% | Mid-market payer operations; acquired January 2025 |
| Birch Technologies Inc | 100% | AI-enabled healthcare technology |
| CareSeed Inc | 100% | HEDIS quality analytics; acquired June 2026 |
Material subsidiaries shown; consolidated entities also include provider solutions, care management, payment integrity and US holding/service entities. All subsidiaries wholly owned, directly or indirectly.
| Shareholding (% of shares) | Q3FY26 | Q4FY26 | Q1FY27 | Q2FY27 |
|---|---|---|---|---|
| Promoter | 50.95% | 50.95% | 50.95% | 50.95% |
| Promoter holding pledged | 0.00% | 0.00% | 0.00% | 0.00% |
| Foreign institutions | 10.25% | 10.02% | 9.99% | 10.38% |
| Domestic institutions | 21.36% | 22.29% | 21.42% | 22.59% |
| of which mutual funds | 13.36% | 14.54% | 13.45% | 15.13% |
| Other | 17.44% | 16.74% | 17.64% | 16.08% |
The promoter holding pledged is a share of the promoter's own holding.
Business model
Sagility delivers technology-enabled healthcare operations to US payers and providers. Payer revenue was 89.9% of Q2 FY27 revenue and provider revenue 10.1%. Economics combine recurring FTE/transaction work with outcome-based services; Q3/Q4 carry open-enrolment/AEP activity.
| Segment | revenue, FY26 (₹ crore) | Share |
|---|---|---|
| Single statutory segment: Business process management services | 7,193 | 100.0% |
Segments as the company reports them (consolidated); each share is of the segments' sum.
| Peer | Why the dossier compares them |
|---|---|
| Firstsource Solutions (FSL) | Indian listed BPM with significant US healthcare payer/provider operations |
| eClerx Services (ECLERX) | Indian listed specialist operations/analytics, comparable labour economics but different verticals |
| ExlService Holdings | US-listed healthcare and analytics operations; cross-market growth-quality comparator |
| Cognizant Technology Solutions | Large US healthcare IT/BPM competitor including TriZetto; diversified comparator |
| Conduent |
Financial databook
| Profit and loss (₹ crore) | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 4,218 | 4,754 | 5,570 | 7,193 | |
| Cost of revenue (vendor classification) * | 8.81 | 2,938 | 3,499 | 4,240 | |
| Other operating costs (vendor classification) * | 633.4 | 955.6 | 985.8 | 840.7 | |
| EBITDA (vendor classification) * | 1,057 | 1,116 | 1,354 | 1,856 | |
| Operating EBIT excluding other income | 400.5 | 398.9 | 831.0 | 1,273 | |
| Finance cost | 214.9 | 185.1 | 127.1 | 99.2 | |
| Profit before tax | 185.7 | 241.7 | 760.2 | 1,239 | |
| Tax expense | 42.1 | 13.4 | 221.1 | 314.1 | |
| Profit after tax | 143.6 | 228.3 | 539.1 | 924.8 | |
| Diluted EPS (₹) | 0.31 | 0.53 | 1.17 | 1.98 | |
| Employee benefits expense | 2,938 | 3,499 | 4,510 | ||
| Other expenses | 727.8 | 773.1 | 922.3 | ||
| Other income | 27.9 | 56.3 | 98.0 | ||
| Depreciation and amortisation | 689.2 | 466.9 | 487.4 | ||
| Exceptional items: signed expense negative | 0.00 | 0.00 | -32.8 | ||
| Statutory operating EBITDA excluding other income | 1,088 | 1,298 | 1,760 | ||
| Company reported EBITDA including other income | 1,116 | 1,354 | 1,858 | ||
| Company adjusted EBITDA excluding other income and FX | 1,144 | 1,469 | 1,820 | ||
| Company adjusted PAT | 589.6 | 810.7 | 1,131 | ||
| Materials purchases and inventory changes | 0.00 | 0.00 | 0.00 | ||
| Non-controlling profit share | 0.00 | 0.00 | 0.00 | ||
| Share of associates profit | 0.00 | 0.00 | 0.00 | ||
| PAT attributable to owners | 228.3 | 539.1 | 924.8 | ||
| Basic EPS (₹) | 1.17 | 1.98 |
| Balance sheet (₹ crore) | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Total equity | 4,027 | 6,207 | 6,443 | 8,336 | 9,659 |
| Borrowings excluding leases | 4,733 | 2,872 | 1,934 | 817.0 | 577.6 |
| Cash including mutual funds and deposits | 373.8 | 585.3 | 344.1 | 343.8 | 903.8 |
| Trade receivables including unbilled | 1,181 | 1,267 | 1,839 | ||
| Trade payables | 115.0 | 213.5 | 259.3 | 213.6 | 221.7 |
| PPE net excluding ROU and CWIP | 0.00 | 0.00 | 383.2 | 369.9 | 423.1 |
| Capital work in progress | 5.70 | 0.01 | 39.3 | ||
| Total assets | 10,096 | 10,590 | 10,664 | 11,051 | 12,601 |
| Lease liabilities | 598.2 | 585.0 | 533.0 | ||
| Goodwill | 5,710 | 6,039 | 6,405 | ||
| Intangibles including assets under development | 2,008 | 2,036 | 2,041 | ||
| Company net debt including leases | 2,168 | 1,043 | 196.2 | ||
| Inventories | 0.00 | 0.00 |
| Cash flow (₹ crore) | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Net cash from operating activities after taxes | 973.3 | 1,214 | 1,203 | ||
| Free cash flow (vendor definition) * | 713.1 | 790.5 | 1,090 | 1,011 | |
| Dividends paid: positive outlay | 0.00 | 23.4 | |||
| Capital expenditure: positive outlay | -141.2 | 182.7 | 124.4 | 192.2 | |
| Operating cash flow less positive capex | 790.5 | 1,090 | 1,011 |
| Other reported lines (₹ crore) | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Actual shares outstanding, not weighted average | 192.07 | 428.73 | 468.13 | 468.13 |
| Quarterly profit and loss (₹ crore) | Q3FY25 | Q4FY25 | Q1FY26 | Q2FY26 | Q3FY26 | Q4FY26 | Q1FY27 | Q2FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1,453 | 1,568 | 1,539 | 1,658 | 1,971 | 2,024 | 1,963 | 2,032 |
| Cost of revenue (vendor classification) * | 862.0 | 974.1 | 987.2 | 1,219 | 1,277 | 1,228 | ||
| Other operating costs (vendor classification) * | 198.8 | 221.4 | 205.6 | 240.9 | 262.7 | 297.7 | ||
| EBITDA (vendor classification) * | 436.2 | 383.2 | 356.0 | 519.5 | 509.4 | 452.5 | ||
| Operating EBIT excluding other income | 276.1 | 258.7 | 227.9 | 293.6 | 387.6 | 360.5 | 310.1 | |
| Finance cost | 30.2 | 29.8 | 27.4 | 25.0 | 24.7 | 22.1 | 21.9 | 18.5 |
| Profit before tax | 289.8 | 239.0 | 210.4 | 326.8 | 338.5 | 363.2 | 287.5 | 374.2 |
| Tax expense | 72.9 | 56.4 | 61.8 | 76.0 | 70.9 | 105.5 | 70.7 | 90.0 |
| Profit after tax | 216.9 | 182.6 | 148.6 | 250.8 | 267.7 | 257.7 | 216.8 | 284.2 |
| Diluted EPS (₹) | 0.46 | 0.39 | 0.32 | 0.54 | 0.57 | 0.56 | 0.46 | 0.61 |
| Employee benefits expense | 862.0 | 974.1 | 987.2 | 1,027 | 1,219 | 1,277 | 1,228 | 1,235 |
| Other expenses | 198.8 | 221.3 | 205.6 | 216.3 | 240.9 | 259.4 | 297.7 | 271.7 |
| Other income | 44.0 | 10.1 | 9.89 | 58.2 | 8.42 | 21.5 | 14.3 | 0.00 |
| Depreciation and amortisation | 116.2 | 114.3 | 118.2 | 121.5 | 123.5 | 124.2 | 128.0 | 132.4 |
| Exceptional items: signed expense negative | 0.00 | 0.00 | 0.00 | 0.00 | -32.8 | 0.00 | -15.1 | 0.00 |
| Statutory operating EBITDA excluding other income | 392.2 | 373.0 | 346.1 | 415.1 | 511.1 | 487.9 | 438.2 | 525.2 |
| Company reported EBITDA including other income | 436.2 | 383.2 | 356.0 | 473.3 | 519.5 | 509.4 | 452.5 | 525.2 |
| Company adjusted EBITDA excluding other income and FX | 412.7 | 417.6 | 368.7 | 435.2 | 512.5 | 503.6 | 471.6 | 535.3 |
| Company adjusted PAT | 262.6 | 239.8 | 199.7 | 301.0 | 322.9 | 306.9 | 269.7 | |
| Materials purchases and inventory changes | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Non-controlling profit share | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Share of associates profit | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| PAT attributable to owners | 216.9 | 182.6 | 148.6 | 250.8 | 267.7 | 257.7 | 216.8 | 284.2 |
| Basic EPS (₹) | 0.39 | 0.32 | 0.53 | 0.57 | 0.56 | 0.46 | 0.61 |
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 | 12.7% | 17.2% | 29.1% | ||
| EBITDA margin | 22.9% | 23.3% | 24.5% | ||
| Net margin | 4.8% | 9.7% | 12.9% | ||
| Return on equity | 3.6% | 7.3% | 10.3% | ||
| Return on capital employed | 4.5% | 4.6% | 9.5% | 13.1% | |
| Return on assets | 2.1% | 5.0% | 7.8% | ||
| Net debt (₹ crore) | 2,168 | 1,043 | 196.2 | ||
| Net debt / EBITDA | 1.99x | 0.80x | 0.11x | ||
| Interest cover | 1.86x | 2.15x | 6.54x | 12.8x | |
| Asset turnover | 0.41x | 0.45x | 0.51x | 0.61x | |
| Receivable days | 91 | 83 | 93 | ||
| Inventory days (on revenue) | 0 | 0 | |||
| Payable days (on revenue) | 18 | 20 | 14 | 11 | |
| Cash conversion | 4.26x | 2.25x | 1.30x | ||
| Capex intensity | 3.3% | 3.8% | 2.2% | 2.7% | |
| Free cash flow (₹ crore) | 790.5 | 1,090 | 1,011 | ||
| Dividend payout | 0.0% | 2.5% | |||
| EPS, diluted (₹) | 0.31 | 0.53 | 1.17 | 1.98 | |
| Book value per share (₹) | 32.31 | 15.03 | 17.81 | 20.63 |
Computed from the statements above:
- Revenue growth: revenue over the previous year's, less one.
- EBITDA margin: EBITDA (Statutory operating 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): Company net debt including leases; negative is net cash.
- Net debt / EBITDA: net debt / EBITDA (Statutory operating 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.
- Dividend payout: dividends paid / net profit to owners.
- EPS, diluted (₹): as reported (Diluted EPS).
- Book value per share (₹): equity / shares outstanding.
Source: the company's filings and disclosures as extracted into Mool's company dossier (version 4, information to 22 Oct 2026); market data at the close of 22 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.
With Individual or above
What the full research on Sagility India includes
Every piece of Mool’s research is built the same way: a researched evidence base, analyses that build on each other, a research model and a report with the call. This page shows the first analysis.
The report and Mool’s call
- The 12-month rating and target
- The 3-month view
- Mool's estimates beside the street's
- The claims the view rests on, and what would change it
The analyses, among them
- Business model & financial foundationOn this pageWhat the company does and how it makes money, its structure, five years of financials and the metrics that matter for it.
- Future earnings & financial modelForecasts built from the drivers that move the business, by scenario, beside the street's.
- Fundamental valuation & 12-month thesisWhat the business is worth on several methods, what the market already prices in and the 12-month thesis that follows.
The research model
The model behind the report: the company’s history, the drivers that move it, its forecasts by scenario and the valuation the 12-month target comes from.
See Mool’s call and the full research
Individual or above opens every piece of research Mool has published. A new account can start with 10 days of Pro, or of Firm on a work email address. No card needed.
Report history
Reports on Sagility India
- Research reportLatest
- Research report
- Research report
- Research report
Same sector
More research in Healthcare
Divi's Laboratories Ltd.
NSE: DIVISLAB
Healthcare · Drug Manufacturers - Specialty & Generic
₹9,190.00 last close on 21 Oct 2026 +1.13%Research updated
Torrent Pharmaceuticals Ltd.
NSE: TORNTPHARM
Healthcare · Drug Manufacturers - Specialty & Generic
₹4,553.80 last close on 21 Oct 2026 −0.11%Research updated
Apollo Hospitals Enterprise Ltd.
NSE: APOLLOHOSP
Healthcare · Medical Care Facilities
₹7,600.00 last close on 21 Oct 2026 −1.30%Research updated
Lenskart Solutions Limited
NSE: LENSKART
Healthcare · Medical Instruments & Supplies
₹631.35 last close on 21 Oct 2026 −1.34%Research updated
Zydus Lifesciences Ltd.
NSE: ZYDUSLIFE
Healthcare · Drug Manufacturers - Specialty & Generic
₹1,117.30 last close on 21 Oct 2026 +0.31%Research updated
Prices are the last close on the NSE, 22 Oct 2026. Research from Mool’s report of 22 Oct 2026; page updated 22 Oct 2026.
Mool’s research is written by AI agents and published by Mool Capital Private Limited, a SEBI-registered Research Analyst, registration INH000012449, which is responsible for it. This page shows factual company information and an excerpt of that research; it carries no rating and is not investment advice for any individual. Investment in securities market are subject to market risks. Read all the related documents carefully before investing. Registration granted by SEBI and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors. Read the disclosures.