HealthCare Global Enterprises Ltd. (HCG) AI Stock Analysis

• Market Cap: ₹83.44B
• Dividend Yield: N/A
• Average Volume (3M): 18.12K
• Price to Earnings (P/E): 233.9
• Beta (1Y): 0.47
• Revenue Growth: 17.58%
• EPS Growth: -38.20%
• Country: IN
• Employees: 6,150
• Sector: Healthcare
• Sector Strength: 45
• Industry: Medical - Care Facilities
• EPS (TTM): 1.47
• Shares Outstanding: 141,007,630
• 10 Day Avg. Volume: 16,611
• 30 Day Avg. Volume: 18,118
• PEG Ratio: -21.26
• Price to Book (P/B): 7.99
• Price to Sales (P/S): 3.31
• P/FCF Ratio: 68.08
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 67 Neutral
• Price Target: ₹643.00 ▼(-1.90% Downside)

HealthCare Global Enterprises Ltd. benefits from strong technical momentum and solid financial performance, but its high P/E ratio suggests overvaluation. The lack of earnings call data and corporate events means these factors do not influence the score.

Positive Factors

Revenue Growth

Sustained ~17% top-line growth reflects durable demand for oncology services across HCG’s network. Consistent revenue expansion supports higher capacity utilization of expensive radiotherapy assets and underpins multi-quarter investments and margin recovery potential.

High Gross and EBITDA Margins

Robust gross (52%) and EBITDA (19%) margins indicate structural pricing power from specialized oncology treatments and diagnostics. These margins create room to absorb operating leverage, fund clinical investments, and sustain profitability as volumes scale across centers.

Strong Cash Generation

Very strong operating cash conversion and positive FCF growth show durable cash-generative operations. Reliable cash flow supports capex for high-cost equipment, services expansion, and reduces dependence on external equity financing over the medium term.

Negative Factors

High Leverage

Material leverage (debt/equity ~2.0) limits financial flexibility and raises refinancing risk. Heavy debt makes earnings and investment plans more sensitive to interest rates or volume shocks, constraining long-term strategic optionality and capital allocation choices.

Thin Net Profitability

Despite revenue growth, a 2% net margin and falling net income indicate bottom-line pressure from costs, financing, or non-operating items. Persistently thin net profitability can impede reinvestment, debt paydown, and consistent shareholder returns over multiple quarters.

Earnings Volatility (EPS Decline)

A large negative EPS change signals volatility in per-share earnings and weaker profitability per investor unit. Prolonged EPS declines can hinder capital raising, deter long-term investors, and reflect structural earnings or financing issues that impair value creation.

HealthCare Global Enterprises Ltd. Business Overview & Revenue Model

Company Description

HealthCare Global Enterprises Limited, together with its subsidiaries, provides healthcare services focusing on cancer. The company offers cancer diagnosis and treatment services through radiation therapy, medical oncology, and surgery; and fertility treatment services, as well as reproductive medicine services, including assisted reproduction, gynecological endoscopy, and fertility preservation under the Milann brand. It also operates four multi-specialty hospitals, including three under the HCG brand in Ahmedabad, Bhavnagar, and Rajkot in the state of Gujarat, as well as one under operations and management contract in Hubli in the state of Karnataka that primarily provide cardiology, neurology, orthopedics, gastroenterology, urology, internal medicine, and pulmonary and critical care. In addition, the company offers medical diagnostic services, including scientific testing and consultancy services in the pharmaceutical and medical sector. As of March 31, 2021, it operated 23 cancer centers, including 1 center of excellence in Bengaluru, 2 freestanding diagnostic centers, and 1 day care chemotherapy center across India, as well as 1 cancer center in Africa. The company was founded in 1989 and is based in Bengaluru, India.

How the Company Makes Money

HCG generates revenue primarily through its healthcare services, including inpatient and outpatient treatments, surgeries, and specialized oncology services. Key revenue streams include payments from patients for treatments, consultations, and diagnostic services, as well as reimbursement from insurance companies and government health programs. Additionally, the company may earn income from partnerships with pharmaceutical firms for clinical trials and drug development, as well as from its research initiatives. HCG's strategic collaborations with healthcare providers and institutions further enhance its capabilities and market reach, contributing to its overall earnings.

HealthCare Global Enterprises Ltd. Financial Statement Overview

Summary

HealthCare Global Enterprises Ltd. shows strong revenue growth and improving profitability margins. However, the decrease in net income and high leverage indicate potential operational challenges and financial risks.

Income Statement

HealthCare Global Enterprises Ltd. has shown a strong revenue growth trajectory over the years. The company improved its revenue by 17.35% from 2024 to 2025. The gross profit margin stands at 52.11% and net profit margin at 2.00% for 2025, with a noticeable improvement in profitability metrics like EBIT and EBITDA margins, which are at 7.93% and 19.06% respectively. However, the net income has decreased compared to 2024, indicating potential operational challenges.

Balance Sheet

The company shows a moderately balanced financial structure with a debt-to-equity ratio of 1.99, indicating reliance on debt. The equity ratio at 26.02% reflects a reasonable level of equity financing. Return on Equity is low at 4.81%, suggesting limited profitability for equity holders. Overall, the balance sheet indicates a stable but leveraged position.

Cash Flow

HealthCare Global Enterprises Ltd. has demonstrated consistent positive operating cash flows, showing operational efficiency. The Operating Cash Flow to Net Income ratio is robust at 7.14, indicating strong cash flow generation relative to net income. Free Cash Flow has shown a growth of 9.39% from the previous year, reflecting healthy cash management. However, the Free Cash Flow to Net Income ratio at 2.44 highlights potential concerns in cash flow efficiency.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	23.10B	22.23B	19.12B	16.94B	13.98B	10.13B
Gross Profit	12.16B	11.91B	10.48B	9.20B	7.52B	5.27B
EBITDA	3.47B	3.13B	2.67B	2.37B	1.78B	656.22M
Net Income	370.80M	444.10M	481.55M	293.49M	537.33M	-1.93B
Balance Sheet
Total Assets	0.00	35.43B	27.07B	23.16B	22.20B	20.36B
Cash, Cash Equivalents and Short-Term Investments	3.48B	3.53B	3.03B	1.97B	2.04B	1.66B
Total Debt	0.00	18.37B	12.74B	9.01B	9.15B	9.78B
Total Liabilities	-9.90B	25.53B	18.42B	14.47B	13.36B	13.22B
Stockholders Equity	9.90B	9.22B	8.26B	8.61B	8.70B	6.97B
Cash Flow
Free Cash Flow	0.00	1.08B	988.99M	1.18B	1.49B	850.97M
Operating Cash Flow	0.00	3.17B	2.85B	2.52B	2.20B	1.21B
Investing Cash Flow	0.00	-4.88B	-2.26B	-1.33B	1.25B	-1.71B
Financing Cash Flow	0.00	-424.40M	-640.16M	-1.40B	-1.55B	1.12B

HealthCare Global Enterprises Ltd. Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 655.45
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Positive
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:HCG, the sentiment is Negative. The current price of 655.45 is above the 20-day moving average (MA) of 633.29, below the 50-day MA of 674.88, and above the 200-day MA of 639.01, indicating a bearish trend. The MACD of -23.89 indicates Positive momentum. The RSI at 29.81 is Positive, neither overbought nor oversold. The STOCH value of 14.90 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:HCG.

HealthCare Global Enterprises Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
NH	71 Outperform	₹361.28B	41.95	―	0.24%	14.72%	8.37%
HCG	67 Neutral	₹83.44B	233.95	―	―	17.58%	-38.20%
MAXHEALTH	66 Neutral	₹931.21B	68.24	―	0.14%	32.17%	28.12%
MEDANTA	65 Neutral	₹283.59B	49.47	―	0.04%	15.78%	15.01%
ASTERDM	62 Neutral	₹286.68B	84.23	―	0.84%	-36.14%	-93.99%
FORTIS	61 Neutral	₹642.96B	62.71	―	0.11%	15.33%	54.62%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%

HealthCare Global Enterprises Ltd. Corporate Events

HealthCare Global Releases Investor Meet Recording Highlighting Growth Plans

HealthCare Global Enterprises Ltd. announced the availability of an audio recording from its recent Virtual Investor & Analyst Meet, which discussed the company’s business strategy and long-term growth plans. This move is likely to enhance transparency and provide stakeholders with insights into the company’s future direction, potentially impacting its market positioning and investor relations.