Incorporated in 1988 as a Joint Venture (JV) between Apollo Hospitals Enterprise Ltd. (AHEL) and the Delhi Government, Indraprastha Medical Corporation Ltd. (IMCL) is a super specialty tertiary care hospital located in New Delhi. IMCL is a JV between Apollo Hospital (holding 22% stake) and the State Government of Delhi (holding 26% stake). The company has a significant presence in the National Capital Region (NCR) with two facilities: a 718-bedded facility in Sarita Vihar (operational since 1996) and a 46-bedded facility in Noida (operational since 2006).
The company operates under the brand name of Indraprastha Apollo Hospitals and stands as a premier healthcare institution in India's capital region. Indraprastha Apollo Hospitals is a multi-specialty tertiary acute care hospital with approximately 710 beds, spread over 15 acres and boasting a built-up area of over 600,000 square feet. The primary objective of the company is to enhance the quality of life of patients by providing comprehensive, high-quality hospital services on a cost-effective basis.
The company currently boasts 52 specialty departments. Indraprastha Apollo Hospitals offers a wide array of specialties, including anesthesia, cardiology, cardiac surgery, oncology, pediatrics, critical care, emergency care, fetal medicine, gastroenterology and hepatology, obstetrics and gynecology, interventional radiology, IVF, liver and kidney transplant, nuclear medicine, nephrology, ophthalmology, plastic and reconstructive surgery, respiratory and sleep medicine, rheumatology, spine surgery, and urology and andrology.
The hospital has firmly established itself as a comprehensive healthcare provider, offering advanced medical services and state-of-the-art facilities. It caters to patients from both India and abroad, providing a broad spectrum of medical specialties, advanced diagnostics, and cutting-edge facilities. The institution has significantly expanded its capabilities over the years, including a dedicated 4-bed stroke unit for treating strokes (Brain Attack) and a new OT complex comprising 6 operation theatres, commissioned in 1998-99.
For the full fiscal year ending March 2025, the company reported a net profit of ₹160.99 crore, marking a 29.87% increase compared to ₹123.96 crore in the previous fiscal year ended March 2024. Revenue for the year ended March 2025 grew by 8.97% to ₹1356.36 crore, up from ₹1244.70 crore in the previous fiscal year ended March 2024.
- Revenue: ₹1,356 Crore (FY2025)
- Net Profit: ₹161 Crore (FY2025)
- ROE: 26% (Exceptional)
- Pre-tax Margin: 16% (Great)
- Revenue Growth: 9% (Annual, Good)
In the quarter ended March 2025, net profit rose by 31.57% to ₹41.01 crore, compared to ₹31.17 crore in the corresponding quarter of the previous year ended March 2024. Sales for the quarter ended March 2025 increased by 6.04% to ₹333.75 crore, from ₹314.73 crore in the quarter ended March 2024.
Market Capitalization: ₹4,627 Crore (as of 2025, with a 99.7% increase in the past year). The company has demonstrated remarkable market performance with significant growth in its market capitalization. IMCL is almost debt-free and possesses a strong balance sheet, enabling it to report stable earnings growth across various business cycles.
The company has consistently maintained profitability with a good profit growth of 29.4% CAGR over the last 5 years and has been maintaining a healthy dividend payout of 30.3%. IMCL also exhibits a strong return on equity (ROE) track record, with a 3-Year ROE of 28.3%.
Promoter Holding: 51.0% (Apollo Hospitals Enterprise Ltd.)
The company maintains a balanced ownership structure with significant promoter holding, ensuring effective management control while allowing for institutional and retail investor participation.
ICRA has reaffirmed Indraprastha Medical Corporation Limited's long-term rating at '[ICRA] AA' with a stable outlook and its short-term rating at '[ICRA] A1+'. These ratings reflect IMCL's strong market position, healthy operating metrics, and robust financial profile, further supported by its association with Apollo Hospitals Enterprise Limited.
The company benefits significantly from its strategic location in the National Capital Region and its strong association with the renowned Apollo Hospitals network. Indraprastha Medical Corporation Ltd. operates the prestigious Indraprastha Apollo Hospitals in New Delhi, delivering world-class healthcare services. The hospital serves as a major referral center for patients from across North India and neighboring countries.
The stock is currently trading at 7.76 times its book value, indicating strong market confidence in the company's asset quality and future growth prospects. The defensive nature of the healthcare sector, combined with the company's robust fundamentals, makes it an attractive investment proposition for long-term investors seeking exposure to India's expanding healthcare market.
