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Medi Assist Health Overview

Medi Assist Healthcare Services Limited (MAHSL) is a health-tech and insurance-tech company that manages health benefits for employers, retail members, and public health schemes, primarily serving insurance companies. MAHSL was incorporated in 2000 and has grown to become one of the largest third party administrators in India, with a network of over 18,000 providers and 35 insurer partnerships. MAHSL's portfolio of services includes benefits administration, international private medical insurance, self-funded plans, medical value travel, and bo...Read More

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Medi Assist Health Key Financials

Market Cap ₹2755 Cr.

Stock P/E 30.1

P/B 3.5

Current Price ₹368.8

Book Value ₹ 104.6

Face Value 5

52W High ₹594.4

Dividend Yield 0%

52W Low ₹ 293.4

Medi Assist Health Share Price

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Volume
Price

Medi Assist Health Quarterly Price

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Medi Assist Health Peer Comparison

Medi Assist Health Quarterly Results

#(Fig in Cr.) Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025
Net Sales 161 166 167 168 181 186 189 191 233 240
Other Income 5 4 4 5 6 4 8 7 2 8
Total Income 166 170 171 173 187 190 197 198 235 247
Total Expenditure 121 132 130 132 142 146 148 149 193 195
Operating Profit 45 38 41 40 45 44 49 49 42 52
Interest 0 1 1 2 2 2 4 5 8 8
Depreciation 11 11 12 14 14 14 14 14 21 21
Exceptional Income / Expenses -21 0 0 0 0 0 0 0 0 -14
Profit Before Tax 12 26 28 25 29 27 30 31 13 8
Provision for Tax 6 4 3 6 9 -3 8 8 5 4
Profit After Tax 6 21 26 19 21 30 22 23 8 4
Adjustments -3 -1 -1 -0 0 -0 -0 -0 -0 0
Profit After Adjustments 4 21 25 19 21 30 21 22 8 4
Adjusted Earnings Per Share 0.5 3 3.6 2.7 3 4.2 3 3.2 1.1 0.6

Medi Assist Health Profit & Loss

#(Fig in Cr.) Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 TTM
Net Sales 341 406 319 323 394 505 635 723 853
Other Income 11 4 12 25 28 14 26 27 25
Total Income 352 410 330 348 422 519 661 751 877
Total Expenditure 270 331 241 249 312 386 509 573 685
Operating Profit 82 80 90 98 109 133 152 178 192
Interest 4 4 4 6 3 3 3 10 25
Depreciation 19 25 26 32 28 27 43 56 70
Exceptional Income / Expenses 0 -11 0 0 3 0 -21 0 -14
Profit Before Tax 59 39 59 61 81 104 84 112 82
Provision for Tax 19 13 21 23 17 28 13 20 25
Profit After Tax 40 26 38 38 63 75 71 92 57
Adjustments 0 0 -8 -11 1 -1 -4 -1 0
Profit After Adjustments 40 26 31 27 64 74 67 91 55
Adjusted Earnings Per Share 6.2 3.9 4.6 3.9 9.3 10.8 9.5 12.9 7.9

Growth Rates

# 1 Year 3 Year 5 Year 10 Year
Sales CAGR 14% 22% 18% 0%
Operating Profit CAGR 17% 18% 15% 0%
PAT CAGR 30% 13% 19% 0%
# 1 Year 3 Year 5 Year 10 Year
Share Price CAGR -18% NA% NA% NA%
ROE Average 18% 19% 19% 18%
ROCE Average 21% 24% 24% 23%

Medi Assist Health Balance Sheet

#(Fig in Cr.) Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Shareholder's Funds 204 218 211 290 337 377 472 541
Minority's Interest 3 2 2 2 2 7 10 11
Borrowings 0 0 0 0 0 0 0 13
Other Non-Current Liabilities 43 41 39 113 19 34 192 257
Total Current Liabilities 229 255 302 219 234 279 475 686
Total Liabilities 480 516 555 624 593 697 1148 1508
Fixed Assets 132 142 138 119 99 171 246 306
Other Non-Current Assets 81 91 110 133 69 83 268 269
Total Current Assets 267 283 308 370 425 442 633 933
Total Assets 480 516 555 624 593 697 1148 1508

Medi Assist Health Cash Flow

#(Fig in Cr.) Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Opening Cash & Cash Equivalents 15 6 11 -5 63 15 54 51
Cash Flow from Operating Activities 40 35 17 139 64 81 66 138
Cash Flow from Investing Activities -42 -21 -21 -61 -83 -10 -55 -218
Cash Flow from Financing Activities -7 -10 -12 -10 -30 -32 -15 112
Net Cash Inflow / Outflow -9 4 -16 69 -49 39 -3 32
Closing Cash & Cash Equivalent 6 10 -5 63 15 54 51 83

Medi Assist Health Ratios

# Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Earnings Per Share (Rs) 6.24 3.93 4.58 3.89 9.33 10.76 9.53 12.89
CEPS(Rs) 0 0 0 0 13.34 14.82 16.29 20.9
DPS(Rs) 0 0 0 2.5 1.89 1.89 4 0
Book NAV/Share(Rs) 30.46 31.85 30.87 41.56 47.81 53.08 65.98 75.68
Core EBITDA Margin(%) 20.82 18.55 24.37 22.76 20.66 23.64 19.73 20.81
EBIT Margin(%) 18.38 10.72 19.83 20.69 21.24 21.11 13.79 16.88
Pre Tax Margin(%) 17.34 9.67 18.66 18.91 20.49 20.52 13.3 15.45
PAT Margin (%) 11.85 6.45 11.98 11.78 16.12 14.91 11.23 12.66
Cash Profit Margin (%) 17.39 12.56 20.24 21.54 23.33 20.22 18.02 20.38
ROA(%) 8.43 5.26 7.12 6.44 10.43 11.68 7.73 6.9
ROE(%) 20.48 12.78 18.25 15.49 20.67 21.68 17.21 18.38
ROCE(%) 24.45 16.52 22.82 23.27 26.66 29.87 20.64 20.99
Receivable days 104.41 84.43 134 149.74 111.15 88.89 87.92 100.92
Inventory Days 0 0 0 0 0 0 0 0
Payable days 0 0 0 0 0 0 0 0
PER(x) 0 0 0 0 0 0 53.01 35.27
Price/Book(x) 0 0 0 0 0 0 7.66 6.01
Dividend Yield(%) 0 0 0 0 0 0 0.79 0
EV/Net Sales(x) 0.12 0.1 0.1 -0.36 -0.07 -0.35 5.33 4.38
EV/Core EBITDA(x) 0.5 0.49 0.37 -1.17 -0.26 -1.33 22.32 17.82
Net Sales Growth(%) 0 18.94 -21.54 1.3 22.02 28.22 25.7 13.96
EBIT Growth(%) 0 -30.63 45.16 5.67 25.27 27.45 -17.87 39.44
PAT Growth(%) 0 -35.24 45.69 -0.39 66.99 18.66 -5.33 28.48
EPS Growth(%) 0 -37.04 16.59 -14.97 139.47 15.32 -11.35 35.16
Debt/Equity(x) 0.27 0.25 0.35 0 0 0 0 0.28
Current Ratio(x) 1.17 1.11 1.02 1.7 1.81 1.59 1.33 1.36
Quick Ratio(x) 1.17 1.11 1.02 1.7 1.81 1.59 1.33 1.36
Interest Cover(x) 17.69 10.17 16.93 11.66 28.35 35.66 27.65 11.85
Total Debt/Mcap(x) 0 0 0 0 0 0 0 0.05

Medi Assist Health Shareholding Pattern

# Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
Promoter 38.91 38.85 20.6 20.56 20.56 20.55 4.87 4.62 4.61
FII 9.67 9.76 16.25 14.04 13.26 13.89 23 25.28 24.32
DII 30.61 29.18 41.32 42.71 42.9 42.28 48.89 49.89 49.18
Public 20.81 22.21 21.83 22.69 23.28 23.28 23.25 20.21 21.89
Others 0 0 0 0 0 0 0 0 0
Total 100 100 100 100 100 100 100 100 100

Medi Assist Health News

Medi Assist Health Pros & Cons

Pros

  • Company is almost debt free.

Cons

  • Promoter holding is low: 4.61%.
  • Stock is trading at 3.5 times its book value.
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