Metropolis Healthcare logo

Metropolis Healthcare share price

NSE: METROPOLISBSE: 542650Healthcare ServicesSmall Cap

Metropolis Healthcare Limited · Face value ₹2 · Listed Apr 2019 · Issue price ₹880
Last close ₹553.85up ₹2.65 (0.48%)BSE ₹554.00

Share price at the NSE close on 29 Oct 2026. Previous close ₹551.20.

29 Oct: open ₹549.50, high ₹558.00, low ₹543.05

52-week range of traded prices to 29 Oct 2026
₹412.25Low, 2 Apr 2026₹609.05High, 30 Jul 2026
Market cap
₹11,490 Cr557th largest listed
P/E
56.99
P/B
7.59
Dividend yield
0.36%
ROE
14.2%
ROCE
18.6%
Debt to equity
0.01
Volume, NSE
60,88849.0% delivered

Metropolis Healthcare share price chart

Daily closes since Apr 2019, adjusted for splits and bonuses

+13.9%over a year · Nifty Microcap 250 +2.5% · Nifty 500 −8.4%

ResultsSplit, bonus, rights or demerger20-session average 2,39,084 shares a day, 56.8% delivered

About Metropolis Healthcare

Metropolis Healthcare runs a chain of pathology laboratories that test samples for patients and for hospitals, other laboratories, companies, government bodies and clinical research firms.1 It reaches patients across India through its own and franchised collection centres, home visits and digital channels, and also operates in Africa, Southeast Asia and the Middle East.2

Its tests range from routine pathology to molecular, genetic and genomic diagnostics and cancer testing, and it also offers basic radiology such as X-ray and sonography.3 Its menu has more than 4,500 tests and profiles, about 2,200 of them specialty tests in fields such as oncology, neurology, nephrology and allergy.45 It sells bundled illness and wellness test packages under the TruHealth brand.6 It reports a single business segment, pathology services.7

The business was established in 1981 and began as a single laboratory run by Sushil Shah.89 It was incorporated in 2000.10 It has grown partly through about 25 acquisitions, among them Core Diagnostics in Delhi NCR, which strengthened its oncology (cancer testing), and Hitech Diagnostics in southern India.111213

Its promoters are founder Sushil Shah, a non-executive director, and Ameera Shah, the executive chairperson; the promoter group held 48.9% of the shares, as stated in its presentation of 27 Aug 2026.141516 Surendran Chemmenkotil is the managing director.17

Metropolis Healthcare key points

Results

  • In the year to Mar 2026, consolidated revenue from operations rose 24% to ₹1,646 crore and EBITDA (earnings before interest, tax, depreciation and amortisation) rose 32% to ₹401 crore, a 24.4% margin.18
  • Profit after tax rose 31% to ₹191 crore in the year to Mar 2026; the year-earlier EBITDA and profit included one-time expenses of about ₹21 crore, mainly acquisition costs.19
  • In the quarter to Jun 2026, revenue was ₹450 crore, up 17% from a year earlier, and the EBITDA margin was 25.2%, up 210 basis points (hundredths of a percentage point).20
  • The company had no loans or non-convertible debentures at 31 Mar 2026.21

Revenue mix

  • In the year to Mar 2026, B2C revenue (from patients directly) rose 19% and B2B revenue (from hospitals, laboratories and other institutions) rose 31%, including acquired businesses.22
  • In the year to Mar 2026, specialty testing revenue rose 32% and TruHealth revenue 27%, including acquired businesses. TruHealth, the preventive and wellness packages, made up 18% of group revenue.2324
  • In the quarter to Jun 2026, B2C revenue grew 18% and specialty revenue grew 17%; revenue from Tier III (smaller) towns rose about 25%.25
  • The company said on 27 Aug 2026 that 25% of its business comes from digital initiatives such as its app and website.26

Where revenue comes from

  • Consolidated revenue from customers, ₹ lakh27
    Itemyear to Mar 2026year to Mar 2025
    India149,993.71122,181.00
    Outside India14,590.8810,939.28
  • Outside India, the company runs about 24 labs in Kenya, Zambia, Ghana, Uganda and Tanzania, and serves B2B partners in 16 other international markets.2829

Labs, network and volumes

  • At the end of March 2026 the network had 5,026 service touchpoints across more than 750 towns, after about 490 service centres were added during the year.30
  • The company has 209 laboratories; tests a local lab cannot run go to a regional reference lab and then to the global reference lab in Mumbai.3132
  • About 700 to 750 of its 5,000 centres are company-owned, largely in the top 7 to 8 towns; in smaller towns the centres are run by franchisees.3334
  • In the year to Mar 2026, excluding acquired businesses, patient volumes rose 7.5% to 13.5 million and test volumes rose 8.0% to 28.4 million.35

Research and development

  • In the year to Mar 2026 the company set up a Centre of Genomics, with laboratories in Mumbai and Gurugram accredited by the College of American Pathologists, and genomics revenue grew 68%.3637
  • In the year to Mar 2026 it received its first patent from the Government of India, for a clinician decision support system for tuberculosis.38

What the company expects

  • The company said on 27 Aug 2026 that it expects revenue to grow 14% to 15% in the year to Mar 2027, assuming no price increase and excluding acquisitions.3940
  • The company said on 27 Aug 2026 that it aims to raise its EBITDA margin from 24.4% in the year to Mar 2026 to 27% to 28% over the next 2 to 3 years, assuming no scheduled price increase and acquired businesses reaching company-level margins.414243
  • In its presentation of 27 Aug 2026, the company said it aims to raise specialty testing from about 40% of revenue in the quarter to Jun 2026 to 45%, and TruHealth packages to 25% of revenue, both over 3 years.444546
  • The company said on 27 Aug 2026 that it plans to reach 1,000 own centres over 3 years, to raise collection centres per lab from 24 to 35, and to add 100 mini-hubs offering radiology and consultations.474849

Recent events

  • On 7 Sep 2026 Metropolis Quality Solutions, the subsidiary set to take over the company's external quality assessment business (testing other labs' accuracy) for up to ₹1.25 crore, signed investor agreements; the company's fully diluted stake is to fall to 54.90% over 5 years.5051
  • On 23 Mar 2026 the company allotted 15,54,95,826 bonus shares, 3 new shares for every 1 held.52
  • Its subsidiaries acquired DAPIC of Dehradun (23 May 2025) and Scientific Pathology of Agra (16 Jun 2025), and the company acquired Ambika Pathology of Kolhapur (18 Sep 2025); acquired businesses, Core Diagnostics included, were about 8% of group revenue in the year to Mar 2026.535455

Litigation and regulatory matters

  • In its filing of 4 Feb 2026, the company said that after income tax searches in November 2022 the department raised a demand of ₹7,306.46 lakh; on rectification, demands for 7 assessment years (tax years) were reduced to ₹3,880 lakh.56
  • The first appeals authority allowed most of the company's grounds for all 10 years; the department's appeals to the Income Tax Appellate Tribunal for 2018-19 to 2023-24 were pending. The company carries a provision of ₹1,964.04 lakh against this liability.57

Last updated

All 57 sources, each with its page
  1. 1. Annual report, 27 Jul 2026, page 14
  2. 2. Annual report, 27 Jul 2026, page 14
  3. 3. Annual report, 27 Jul 2026, page 14
  4. 4. Annual report, 27 Jul 2026, page 34
  5. 5. Earnings call, 27 Aug 2026, page 8
  6. 6. Earnings call, 27 Aug 2026, page 12
  7. 7. Annual report, 27 Jul 2026, page 359
  8. 8. Annual report, 27 Jul 2026, page 13
  9. 9. Earnings call, 27 Aug 2026, page 3
  10. 10. Annual report, 27 Jul 2026, page 82
  11. 11. Earnings call, 27 Aug 2026, page 19
  12. 12. Annual report, 27 Jul 2026, page 18
  13. 13. Annual report, 27 Jul 2026, page 12
  14. 14. Investor presentation, 27 Aug 2026, page 8
  15. 15. Annual report, 27 Jul 2026, page 166
  16. 16. Investor presentation, 27 Aug 2026, page 10
  17. 17. Annual report, 27 Jul 2026, page 82
  18. 18. Annual report, 27 Jul 2026, page 93
  19. 19. Annual report, 27 Jul 2026, page 93
  20. 20. Investor presentation, 27 Aug 2026, page 23
  21. 21. Annual report, 27 Jul 2026, page 190
  22. 22. Annual report, 27 Jul 2026, page 34
  23. 23. Annual report, 27 Jul 2026, page 34
  24. 24. Annual report, 27 Jul 2026, page 10
  25. 25. Investor presentation, 27 Aug 2026, page 23
  26. 26. Earnings call, 27 Aug 2026, page 13
  27. 27. Annual report, 27 Jul 2026, page 359
  28. 28. Earnings call, 27 Aug 2026, page 20
  29. 29. Annual report, 27 Jul 2026, page 88
  30. 30. Annual report, 27 Jul 2026, page 93
  31. 31. Earnings call, 27 Aug 2026, page 3
  32. 32. Earnings call, 27 Aug 2026, page 30
  33. 33. Earnings call, 27 Aug 2026, page 14
  34. 34. Earnings call, 27 Aug 2026, page 28
  35. 35. Annual report, 27 Jul 2026, page 93
  36. 36. Annual report, 27 Jul 2026, page 30
  37. 37. Annual report, 27 Jul 2026, page 34
  38. 38. Annual report, 27 Jul 2026, page 26
  39. 39. Investor presentation, 27 Aug 2026, page 23
  40. 40. Earnings call, 27 Aug 2026, page 22
  41. 41. Earnings call, 27 Aug 2026, page 22
  42. 42. Earnings call, 27 Aug 2026, page 23
  43. 43. Investor presentation, 27 Aug 2026, page 3
  44. 44. Investor presentation, 27 Aug 2026, page 17
  45. 45. Investor presentation, 27 Aug 2026, page 16
  46. 46. Investor presentation, 27 Aug 2026, page 15
  47. 47. Investor presentation, 27 Aug 2026, page 14
  48. 48. Earnings call, 27 Aug 2026, page 12
  49. 49. Investor presentation, 27 Aug 2026, page 15
  50. 50. Annual report, 27 Jul 2026, page 94
  51. 51. Exchange filing, 7 Sep 2026, page 2
  52. 52. Annual report, 27 Jul 2026, page 139
  53. 53. Annual report, 27 Jul 2026, page 94
  54. 54. Annual report, 27 Jul 2026, page 93
  55. 55. Annual report, 27 Jul 2026, page 94
  56. 56. Exchange filing, 4 Feb 2026, page 4
  57. 57. Exchange filing, 4 Feb 2026, page 4

Results

Consolidated; ₹ crore.Metropolis Healthcare quarterly results

Revenue growth, 12 months
+21.8%
Net profit growth, 12 months
+32.6%

Quarter to Jun 2026, against the quarter before

Revenue
₹450 Crup 6.01%
Net profit
₹57 Crup 11.62%
Net margin
12.6%

Revenue by quarter

₹350 CrSep 24₹323 CrDec 24₹345 CrMar 25₹386 CrJun 25₹429 CrSep 25₹406 CrDec 25₹425 CrMar 26₹450 CrJun 26
Peak revenue ₹450 Cr, quarter to Jun 2026; lowest ₹323 Cr, quarter to Dec 2024

Net profit by quarter, a loss in red

₹47 CrSep 24₹31 CrDec 24₹29 CrMar 25₹45 CrJun 25₹53 CrSep 25₹42 CrDec 25₹51 CrMar 26₹57 CrJun 26
₹ croreSep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Revenue350323345386429406425450
Net profit4731294553425157
Net margin13.4%9.8%8.5%11.7%12.3%10.4%12.0%12.6%
Consolidated. The last eight quarters. The latest is shaded. Net profit is the whole group's, the other owners of its subsidiaries included; P/E and ROE use the company's own share.

Business segments

In the year to Mar 2026 the company reports one business segment, Pathology Services, which carries all its revenue.

Valuation

Today, against the company's own history.Metropolis Healthcare PE ratio and valuation

Price to earnings

At or below today's level on 43% of 1,239 trading days over the last 5 years.

LowestHighest
Its median59.26Industry median19.34
Price to book

At or below today's level on 28% of 1,790 trading days since Aug 2019.

LowestHighest
Its median8.84Industry median1.62
Dividend yield

At or below today's level on 55% of 1,797 trading days since Jul 2019.

LowestHighest
Its median0.34%Industry median0.38%

Where the return came from

Yearly rates to Mar 2026, per-share figures restated for splits and bonuses.

OverReturn a yearEarnings growthChange in P/EDividend yield
1 year+11.4%+29.9%−14.6%0.5%
3 years+11.9%+9.6%+1.8%0.2%
5 years−4.6%+0.4%−5.4%0.3%
Return is price growth plus the average dividend yield. Change in P/E is (1 + price growth) / (1 + earnings growth) - 1, so the parts compound rather than add.

Shareholding

Per cent of the company's shares, from the filing for Sep 2026.Metropolis Healthcare shareholding pattern

Shareholding by group

  • Promoters47.82%
  • Foreign institutions11.67%
  • Indian institutions35.49%
  • Individuals and others5.02%
Holder
Metz Advisory LLPPromoter29.75%
Duru Shah Family Trust (Duru Sushil Shah & Sushil Kanubhai Shah)Promoter10.54%
Sushil Shah Family Trust (Sushil Kanubhai Shah & Duru Sushil Shah)Promoter7.18%
Ameera Sushil ShahPromoter0.35%
Holders are named in the company's own words: an insurer's holding can carry one of its funds' names. Mutual funds are left out here and listed fund by fund below.

Promoters have pledged 1.21% of their shares. Since Jun 2026: promoters −1.04 pts, foreign institutions +0.64 pts, Indian institutions +0.37 pts, mutual funds +0.42 pts.

The filing reports 1,12,036 of its 20,74,53,880 shares locked in.

Mutual fund holdings

71 funds disclosed a holding for Sep 2026. What they did in Sep 2026, against each fund's month before. 9 of the 27 funds that added or cut are index funds, ETFs or arbitrage funds: an index fund or ETF holds what its index holds, and an arbitrage fund holds the share against a sale of its future.All 71 funds holding Metropolis Healthcare

Added
12
Cut
15
Held unchanged
44
Sold out
1
Portfolios disclosed for Sep 2026. Weight is the holding as a share of the fund's assets.

Promoter and insider buying and selling

Trades made since 30 Oct 2025.Metropolis Healthcare insider trading

Bought on the market Sold on the market
  • Promoters and promoter group0 purchases, 2 salesNo purchase₹118 CrNet−₹118 Cr
  • Others: no market trade · 6 pledge filings of unclear kind
Bought and sold count trades on the market only. A pledge is shares given to a lender as security for a loan; a lender invokes it by selling them.

Metropolis Healthcare competitors and peers

Healthcare Service Provider, 37 listed companies, priced on 29 Oct 2026. The table lists the 8 companies closest to Metropolis Healthcare in market cap.Healthcare companies

Where the company sits among the companies nearest its size

Return on equity across, P/E up, size is market cap
Company
Dr. Lal Path Labs logoDr. Lal Path LabsLALPATHLAB32,08859.2112.79+14.3%+5.6%23.2%26.2%0.84%
Vijaya Diagnostic Centre logoVijaya Diagnostic CentreVIJAYA15,08180.4415.76+20.2%+24.9%21.4%27.8%0.14%
Thyrocare Technologies logoThyrocare TechnologiesTHYROCARE8,20556.9014.83+22.0%+12.9%26.5%43.0%1.36%
Nephrocare Health Services logoNephrocare Health ServicesNEPHROPLUS6,321–5.66––––0.00%
Suraksha Diagnostic logoSuraksha DiagnosticSURAKSHA1,66446.496.80+23.3%+8.1%15.7%24.0%0.16%
Krsnaa Diagnostics logoKrsnaa DiagnosticsKRSNAA1,61516.571.65+10.2%+21.5%10.5%8.0%0.40%
3B Blackbio Dx logo3B Blackbio Dx3BBLACKBIO1,16721.013.60+54.3%+13.2%18.7%14.1%0.37%
Health X Platform logoHealth X PlatformHEALTHX888–1.39+28.8%–−3.1%−9.4%0.00%
Market cap in ₹ crore. Growth is the last twelve months against the twelve before. A figure is left empty where it would rest on a loss or the company has under a year of results on record. ROE is the shareholders' profit over their net worth. ROCE is profit before interest and tax over the whole group's net worth plus borrowings, as in the figures at the top of the page.

Dividends

Per share, by the year it was paid for, and the latest payments.Metropolis Healthcare dividend history

Dividend per share, ₹, restated for later splits and bonuses

Mar 192Mar 202Mar 212Mar 222Mar 231Mar 24Mar 252Mar 26
Highest ₹2.00 a share, in 5 years, the latest the year to Mar 2026.
Ex-dateTypePer share
19 May 2026Interim₹1.00
11 Nov 2025Interim₹4.00
17 Nov 2023Interim₹4.00
23 Feb 2023Interim₹8.00
21 Feb 2022Interim₹8.00
17 Feb 2021Interim₹8.00
Latest payments, as declared, by ex-date.

Latest announcements

Routine notices left out.Metropolis Healthcare announcements

Metropolis Healthcare share price by year

Each calendar year to 2025.Metropolis Healthcare share price history

YearClose at year endChangeHighest closeLowest close
2025482.23−7.1%559.18372.15
2024519.16+23.7%572.14375.95
2023419.54+26.4%428.64299.33
2022331.88−61.4%864.91320.26
2021860.23+75.4%868.68467.34
2020490.33+35.1%572.36288.58
2019362.89–364.79228.25
₹ per share, adjusted for splits and bonuses since. Change is on the close at the end of the year before. 2019 is from its first session, 15 Apr 2019.

Recent sessions

The 9 trading days to 28 Oct 2026, as traded on NSE; the latest is at the top of the page.

DateOpenHighLowCloseAverage priceVolumeDelivery
28 Oct 2026552.00563.40545.20551.20555.572,06,97646.9%
27 Oct 2026528.25553.00528.20550.50545.341,57,32059.3%
26 Oct 2026515.55534.95515.55530.00529.1976,33047.4%
23 Oct 2026524.00528.70512.95522.95520.233,10,24761.6%
22 Oct 2026526.45535.95511.60530.60526.533,02,32052.4%
21 Oct 2026519.10538.70511.90533.60524.942,75,25056.1%
19 Oct 2026533.40534.45512.60519.10520.791,42,67365.3%
16 Oct 2026529.35549.90518.05530.35527.251,74,77361.4%
15 Oct 2026526.90548.95517.00523.00530.772,48,40856.3%
Prices in ₹ per share as traded, not adjusted.

Price adjustments

What the price chart is corrected for, so it reads as one share held throughout.Bonus share history

Ex-dateEventPrice factorWhat happened
20 Mar 2026Bonus0.2500Holders received 3 bonus shares for every 1 held.
Earlier prices are multiplied by the factor, so the chart reads as one share held throughout.

Company details

Chairperson
Ameera Shah
At the end of the quarter to Jun 2026
Managing director
Surendran Chemmenkotil
At the end of the quarter to Jun 2026
NSE symbol
METROPOLIS
BSE code
542650
ISIN
INE112L01020
Industry
Healthcare Services
CIN
L73100MH2000PLC192798
Corporate identity number, the registrar of companies' code for it
Incorporated
2000
Registered office
4th floor, East Wing, Plot-254 B, Nirlon House, Dr. Annie Besant Road, Worli, Mumbai 400030, Maharashtra
Share registrar
MUFG Intime India Pvt. Ltd
Keeps the register of shareholders and handles transfers and dividend payments