Key Financials Snapshot

TTM · Consolidated · ₹ in Cr
Market Cap
₹10 Cr.
Stock P/E
-295.3
P/B
—
Current Price
₹6.6
Book Value
₹ 0
Face Value
10
52W High
₹9.6
52W Low
₹ 2
Dividend Yield
0%

Dolphin Medical Serv Overview

Business

Dolphin Medical Services Ltd. operates in the hospital and healthcare services sector in India. The company's core business involves providing comprehensive medical care and allied services to patients. This typically includes operating hospitals, clinics, and potentially diagnostic centers. It earns revenue primarily through patient fees for medical consultations, surgeries, hospitalization, diagnostic tests, pharmacy sales, and other related healthcare services. Its business model focuses on attracting patients through medical expertise, infrastructure, and service quality.

Revenue Mix

Without specific detailed disclosures, typical revenue streams for a hospital and healthcare services company like Dolphin Medical Services would include:

Inpatient Services: Revenue from patients admitted for treatment, surgeries, and intensive care. This often forms a significant portion.

Outpatient Services: Revenue from doctor consultations, routine check-ups, and minor procedures performed without admission.

Diagnostics: Income from various laboratory tests, imaging services (X-ray, MRI, CT scans).

Pharmacy: Sales of medicines and medical consumables.

Other Services: Potentially medical tourism, corporate health check-ups, and ancillary services.

The exact percentage contribution of each segment is not publicly specified in this request.

Industry

The Indian healthcare industry is characterized by significant growth potential, driven by a large and growing population, increasing disposable incomes, rising health awareness, and a growing burden of non-communicable diseases. It is a highly fragmented market with a mix of large corporate hospital chains, standalone multi-specialty hospitals, specialty clinics, and government-run facilities. Dolphin Medical Services likely positions itself as a regional or multi-specialty healthcare provider, competing with both larger corporate chains on infrastructure and specialized services, and smaller local hospitals on accessibility and affordability. Its positioning would depend on its specific geographical presence and service offerings within this competitive landscape.

MOAT

Durable competitive advantages for Dolphin Medical Services, if present, could stem from:

Local Brand Reputation: A strong, long-standing reputation for quality medical care and patient trust within its operating regions.

Doctor Relationships: Ability to attract and retain highly skilled and renowned doctors, which is crucial for patient acquisition.

Strategic Location: Hospitals or clinics situated in densely populated areas with easy access, creating a localized network effect.

Specialized Expertise: Niche capabilities in specific medical specialties that are in high demand or where competition is less intense.

Established Infrastructure: State-of-the-art medical equipment and facilities that are difficult and costly for new entrants to replicate.

Given the typical nature of the Indian healthcare market, a strong local brand, doctor relationships, and strategic locations are often the most significant advantages for mid-sized players.

Growth Drivers

Key factors that can drive growth for Dolphin Medical Services over the next 3-5 years include:

Demographic Trends: India's large and aging population increases demand for healthcare services.

Rising Income & Health Awareness: Growing middle class with higher disposable incomes and increasing focus on preventative and quality healthcare.

Government Initiatives: Schemes like Ayushman Bharat (PMJAY) can expand access to healthcare and drive demand, though it can also impact pricing structures.

Medical Tourism: Potential to attract international patients seeking affordable and quality medical treatments.

Expansion & Capacity Addition: Opening new facilities, expanding existing ones, or adding new specialty departments.

Technological Adoption: Investment in advanced medical technology and digital health solutions to improve efficiency and patient outcomes.

Risks

Key business risks for Dolphin Medical Services include:

Intense Competition: Highly fragmented market with competition from corporate chains, other private hospitals, and government facilities, potentially leading to pricing pressures.

Regulatory Changes: Evolving healthcare policies, price caps on procedures or drugs, and stricter quality standards can impact profitability.

Doctor & Staff Retention: High demand for skilled medical professionals can lead to increased salary costs and challenges in retaining talent.

High Capital Expenditure: Significant ongoing investment required for infrastructure, medical equipment upgrades, and technology.

Malpractice Claims: Risk of medical negligence lawsuits and associated reputational and financial costs.

Operational Costs: Rising costs of medical supplies, utilities, and maintenance.

Third-Party Payer Risk: Dependence on insurance companies and government schemes for revenue, with potential delays or disputes in payments.

Management & Ownership

Dolphin Medical Services Ltd., like many Indian companies, is likely promoter-led. Promoters (founding families or individuals) typically hold a significant ownership stake and play a crucial role in strategic decision-making and day-to-day operations. The quality of management is critical in the healthcare sector, requiring a balance of clinical understanding, operational efficiency, and financial acumen. Key considerations would be the management's experience in the healthcare domain, track record of navigating regulatory environments, and ability to attract and retain medical talent. Specific details on individual management profiles and ownership split are not provided.

Outlook

Dolphin Medical Services operates in a fundamentally strong growth industry, driven by India's favorable demographics and increasing healthcare awareness and spending. This provides a positive long-term demand outlook for its services. The company's ability to maintain a strong local brand reputation, attract skilled medical professionals, and expand its service offerings will be crucial for capitalizing on these tailwinds. However, it faces significant challenges including intense competition, the high capital requirements of the healthcare sector, and the evolving regulatory landscape. Managing operational costs effectively and navigating potential pricing pressures from government schemes or insurance providers will be key to sustaining profitability and achieving consistent growth.

Dolphin Medical Serv Share Price

Live · BSE · Inception: 1992
₹ | |
Volume
Price

Key Financials — Profit & Loss

₹ in Cr · Consolidated · annual

Dolphin Medical Serv Quarterly Results

#(Fig in Cr.)
Net Sales
Other Income
Total Income
Total Expenditure
Operating Profit
Interest
Depreciation
Exceptional Income / Expenses
Profit Before Tax
Provision for Tax
Profit After Tax
Adjustments
Profit After Adjustments
Adjusted Earnings Per Share

Dolphin Medical Serv Profit & Loss

#(Fig in Cr.) Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 TTM
Net Sales 4 4 1 1 0 1
Other Income 0 0 0 0 0 0
Total Income 4 4 1 1 0 1
Total Expenditure 3 3 2 1 0 0
Operating Profit 1 0 -1 -0 -0 0
Interest 1 1 1 0 0 0
Depreciation 1 1 1 1 1 0
Exceptional Income / Expenses 0 0 0 0 0 0
Profit Before Tax 0 -1 -2 -1 -1 -0
Provision for Tax 0 0 0 0 -0 -0
Profit After Tax 0 -1 -2 -1 -1 -0
Adjustments 0 0 0 0 0 0
Profit After Adjustments 0 -1 -2 -1 -1 -0
Adjusted Earnings Per Share 0 -1 -1.3 -0.6 -0.4 -0

Dolphin Medical Serv Balance Sheet

#(Fig in Cr.) Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016
Shareholder's Funds 18 16 14 13 13 13
Minority's Interest 0 0 0 0 0 0
Borrowings 7 8 8 8 8 8
Other Non-Current Liabilities 1 1 1 1 1 1
Total Current Liabilities 0 0 0 0 0 0
Total Liabilities 26 25 23 22 22 22
Fixed Assets 16 11 12 11 11 10
Other Non-Current Assets 7 11 9 9 9 9
Total Current Assets 3 3 2 2 2 2
Total Assets 26 25 23 22 22 22

Dolphin Medical Serv Cash Flow

#(Fig in Cr.) Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016
Opening Cash & Cash Equivalents 0 0 0 0 0 0
Cash Flow from Operating Activities 1 1 0 0 0 -0
Cash Flow from Investing Activities -1 -0 -0 -0 0 0
Cash Flow from Financing Activities 0 -1 -0 -0 -0 0
Net Cash Inflow / Outflow -0 -0 0 -0 -0 0
Closing Cash & Cash Equivalent 0 0 0 0 0 0

Dolphin Medical Serv Ratios

# Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016
Earnings Per Share (Rs) 0 -0.99 -1.31 -0.57 -0.38 -0.03
CEPS(Rs) 0.39 -0.56 -0.88 -0.1 -0.04 0.19
DPS(Rs) 0 0 0 0 0 0
Book NAV/Share(Rs) 11.73 10.74 9.43 8.86 8.48 8.45
Core EBITDA Margin(%) 30.63 10.15 -52.36 -9.82 -10.65 30.54
EBIT Margin(%) 19.58 -6.92 -108.82 -84.29 -149 -2.23
Pre Tax Margin(%) 3.07 -38.47 -170.48 -89.81 -162.67 -12.23
PAT Margin (%) 0.04 -39.61 -173.28 -90.22 -158.01 -8.16
Cash Profit Margin (%) 14.64 -22.44 -116.63 -15.75 -15.87 51.05
ROA(%) 0.01 -5.93 -8.24 -3.79 -2.61 -0.21
ROE(%) 0.01 -8.78 -12.99 -6.26 -4.39 -0.36
ROCE(%) 3.44 -1.07 -5.35 -3.68 -2.56 -0.06
Receivable days 0.81 0 0 0 0 0
Inventory Days 3.11 3.9 13.77 12.99 17.88 4.81
Payable days 11.59 7.79 7.56 4.81 39.2 17.36
PER(x) 2890 0 0 0 0 0
Price/Book(x) 0.25 0.18 0.12 0.12 0.16 0.14
Dividend Yield(%) 0 0 0 0 0 0
EV/Net Sales(x) 2.77 2.83 8.66 10.1 27.59 17.49
EV/Core EBITDA(x) 8.1 27.59 -16.6 -102.94 -401.93 30.7
Net Sales Growth(%) 21.56 -7.45 -69.66 -16.01 -62.07 55.89
EBIT Growth(%) 30.32 -132.71 -377.2 34.95 32.94 97.66
PAT Growth(%) 101.61 0 -32.74 56.27 33.56 91.94
EPS Growth(%) 101.68 0 -32.74 56.27 33.57 91.93
Debt/Equity(x) 0.39 0.47 0.58 0.61 0.63 0.64
Current Ratio(x) 10.19 17.8 17.36 17.4 15.97 29.59
Quick Ratio(x) 10.08 17.49 17.01 17.1 15.89 29.46
Interest Cover(x) 1.19 -0.22 -1.76 -15.26 -10.9 -0.22
Total Debt/Mcap(x) 1.6 2.6 4.96 5.06 4.04 4.62

Growth Rates

Compounded annual
# 1 Year 3 Year 5 Year 10 Year
Sales CAGR — 0% -24% —
Operating Profit CAGR — — -100% —
PAT CAGR — — — —
Share Price CAGR +206% +55% +18% +20%
ROE Average 0% -4% -7% -5%
ROCE Average 0% -2% -3% -2%

Dolphin Medical Serv Shareholding Pattern

Latest · Jun 2026
100% held
Promoters 26.44 %
FII 0 %
DII (MF + Insurance) 0 %
Public (retail) 73.56 %
# Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026 Jun 2026
Promoter 26.4426.4426.4426.4426.4426.4426.4426.4426.4426.44
FII 0000000000
DII 0000000000
Public 73.5673.5673.5673.5673.5673.5673.5673.5673.5673.56
Others 0000000000
Total 100100100100100100100100100100

Dolphin Medical Serv Peer Comparison

Hospital & Healthcare Services Edit Columns

Dolphin Medical Serv Quarterly Price

10-year quarterly close · BSE
Show Value Show %

News & Updates

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Dolphin Medical Serv Pros & Cons

Pros

  • Debtor days have improved from 39.2 to 17.36days.
  • Company is almost debt free.

Cons

  • Promoter holding is low: 26.44%.
  • Company has a low return on equity of -4% over the last 3 years.
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