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Paras Healthcare IPO

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WEBSITE Inc. Year: 1987 Industry: Hospital & Healthcare Services

Profile
Issue Size 1450 Cr
Profile
Price Range 660  to  693 per share
Profile
Min Investment ₹693
Profile
Lot Size 1
Profile
Face Value ₹1
Profile
Draft Prospectus
Invest Before the IPO Goes Live

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Profile
  • Basic Info
  • IPO Tentative Timetable
  • IPO Lot Size
  • Subscription Status
  • Financials
  • Profit & Loss
  • Balance Sheet
  • Cash Flow
  • Ratios
  • Growth Rates
  • Other info

Overview

We are the fifth largest healthcare provider in terms of bed capacity in North India, Bihar and Jharkhand among our Peers, with an aggregate of 2,135 beds, as of March 31, 2024. (Source: CRISIL Report) We have eight hospitals that we operate under the “Paras Health” brand, which are spread across five states and one union territory in North India – Gurugram and Panchkula in Haryana; Patna and Darbhanga in Bihar; Kanpur, Uttar Pradesh; Udaipur, Rajasthan; Ranchi, Jharkhand; and Srinagar in the union territory of Jammu and Kashmir. Our core focus is on providing specialized tertiary medical care in Tier 2 and 3 cities, while seeking to strike a balance between providing quality healthcare services and affordability. We offer several clinical specialties across our hospitals including cardiac sciences, oncology, neuro sciences, gastro sciences and orthopedics and joint replacement. We have established centres of excellence across our hospitals, where we provide clinical specialties and these centres have been instrumental in launching new programs including organ transplant programs. Our extensive 18 years of experience in the healthcare industry in North India has helped us develop a strong understanding of the region’s market dynamics. This, along with our flexible operating model have enabled us to build an asset light business with strong unit economics. Read More

Basic Info

Face Value 1 per share

Price 660  to  693 per share

P/E (x) 161.2

Sales( Cr.) 1606

PAT( Cr.) 44

EPS 4.3

Draft Prospectus

Exchange BSE-NSE

Promoter

Company Promoters

Dharminder Kumar Nagar

Pre Issue Share Holding 75.32%

Post Issue Share Holding --%

Listing Details:

Listing Price: --

Listing Gain: --

Current Price: --

Gain On Issue: 0 | 0%

GMP: --

GMP %: -- %

IPO Tentative Timetable

Opening Date Oct 21, 2026
Closing Date Oct 23, 2026
Allotment Oct 26, 2026
Refund Oct 27, 2026
Delivery of Shares Oct 27, 2026
Listing Date Oct 28, 2026

IPO Lot Size

Application Lots Shares Amount
Retail (Min) 1 21 14,553
Retail (Max) 13 273 189,189
S-HNI (Min) 14 294 203,742
S-HNI (Max) 68 1428 989,604
B-HNI (Min) 69 1449 1,004,157

Objective of the Issue

1. Prepayment or scheduled re-payment, in full or part, of certain outstanding borrowings availed by our Company2. Investment in our wholly owned Subsidiary, PMHPL (which also operates our hospital in Srinagar), for repayment/prepayment of borrowings, in full or part, of PMHPL3. General corporate purposes

Issue

Category Nos Bid Bid (x)
QIB 0 0 0x
NII 0 0 0x
Retail 0 0 0x
EMP 0 0 0x
Total 0 0 0x

Net Sales (in cr.)

Total Income (in cr.)

Operating Profit (in cr.)

Net Profit (in cr.)

Shareholder Funds (in cr.)

Total Assets (in cr.)

Paras Healthcare Profit & Loss

#(Fig in Cr.) Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026 TTM
Net Sales 469 498 575 598 780 918 1129 1294 1606
Other Income 33 27 30 17 13 18 35 20 23
Total Income 501 525 605 615 793 936 1164 1314 1629
Total Expenditure 412 443 531 562 709 846 1008 1155 1290
Operating Profit 90 82 74 53 84 90 157 159 339
Interest 12 10 26 32 33 51 69 94 119
Depreciation 21 25 44 45 51 65 81 116 144
Exceptional Income / Expenses -9 -1 0 2 3 0 0 0 0
Profit Before Tax 48 46 4 -21 3 -27 7 -50 76
Provision for Tax 9 16 5 4 18 16 22 8 32
Profit After Tax 39 30 -0 -25 -15 -43 -15 -58 44
Adjustments 0 0 -0 -1 0 0 0 0 0
Profit After Adjustments 39 30 -1 -26 -15 -43 -15 -58 44
Adjusted Earnings Per Share 5.3 4.1 -0.1 -3.5 -2 -5.8 -1.6 -5.9 4.3

Paras Healthcare Balance Sheet

#(Fig in Cr.) Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Shareholder's Funds 95 125 113 88 73 30 339 280 395
Minority's Interest 0 0 0 0 0 0 0 0 0
Borrowings 304 317 74 122 139 255 358 436 454
Other Non-Current Liabilities 24 17 398 388 525 347 360 474 504
Total Current Liabilities 107 122 156 208 226 661 421 619 718
Total Liabilities 530 581 742 807 964 1293 1478 1810 2071
Fixed Assets 126 180 427 414 486 780 988 1173 1211
Other Non-Current Assets 126 96 70 53 147 153 116 119 86
Total Current Assets 277 305 245 340 331 360 374 518 775
Total Assets 530 581 742 807 964 1293 1478 1810 2071

Paras Healthcare Cash Flow

#(Fig in Cr.) Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Opening Cash & Cash Equivalents 1 3 10 5 65 8 23 15 37
Cash Flow from Operating Activities 31 36 32 84 82 44 92 86 164
Cash Flow from Investing Activities -234 -48 -13 -74 -129 -126 -194 -147 -239
Cash Flow from Financing Activities 205 19 -25 51 -11 97 94 83 86
Net Cash Inflow / Outflow 2 7 -6 60 -57 15 -8 22 10
Closing Cash & Cash Equivalent 3 10 5 65 8 23 15 37 47

Paras Healthcare Ratios

# Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Earnings Per Share (Rs) 5.26 4.09 -0.11 -3.52 -2.01 -5.82 -1.57 -5.94 4.34
CEPS(Rs) 8.14 7.45 5.88 2.65 4.98 3.09 6.7 5.9 18.56
DPS(Rs) 0 0 0 0 0 0 0 0 0
Book NAV/Share(Rs) 12.9 16.98 15.42 11.99 9.94 4.09 34.68 28.74 39.07
Core EBITDA Margin(%) 12.15 11.04 7.69 6.09 9.12 7.78 10.76 10.76 19.68
EBIT Margin(%) 12.75 11.22 5.26 1.73 4.66 2.62 6.74 3.39 12.16
Pre Tax Margin(%) 10.17 9.15 0.77 -3.56 0.39 -2.95 0.59 -3.87 4.73
PAT Margin (%) 8.24 6.03 -0.09 -4.24 -1.9 -4.66 -1.36 -4.48 2.73
Cash Profit Margin (%) 12.77 10.99 7.52 3.26 4.69 2.47 5.79 4.45 11.67
ROA(%) 7.3 5.41 -0.08 -3.27 -1.67 -3.79 -1.11 -3.53 2.26
ROE(%) 40.74 27.35 -0.42 -25.16 -18.37 -82.92 -8.32 -18.73 12.99
ROCE(%) 14.05 12.39 8.62 4.07 12.69 6.77 11.61 4.63 17.3
Receivable days 37.2 35.88 31.37 27.62 29.56 42.76 46.39 55.13 66.38
Inventory Days 9.85 10.07 9.96 8.4 5.46 5.97 7.36 7.63 6.61
Payable days 230.56 222.38 214.64 218.62 195.53 187.55 160.66 177.72 169.1
PER(x) 0 0 0 0 0 0 0 0 0
Price/Book(x) 0 0 0 0 0 0 0 0 0
Dividend Yield(%) 0 0 0 0 0 0 0 0 0
EV/Net Sales(x) 0.7 0.32 0.19 -0.09 0.03 0.26 0.35 0.41 0.35
EV/Core EBITDA(x) 3.68 1.95 1.49 -1 0.23 2.64 2.53 3.34 1.66
Net Sales Growth(%) 0 6.32 15.4 4.03 30.33 17.69 23 14.62 24.1
EBIT Growth(%) 0 -6.48 -45.93 -65.71 250.27 -33.65 215.8 -42.38 345.31
PAT Growth(%) 0 -22.26 -101.66 -4990.76 41.59 -188.98 64.17 -278.21 175.6
EPS Growth(%) 0 -22.27 -102.7 -3089.13 42.79 -188.99 73.02 -278.22 173.07
Debt/Equity(x) 3.49 2.82 0.98 2.24 2.93 13.11 1.62 2.6 2.16
Current Ratio(x) 2.58 2.49 1.57 1.63 1.46 0.55 0.89 0.84 1.08
Quick Ratio(x) 2.49 2.37 1.47 1.58 1.41 0.52 0.82 0.79 1.03
Interest Cover(x) 4.94 5.43 1.17 0.33 1.09 0.47 1.1 0.47 1.64
Total Debt/Mcap(x) 0 0 0 0 0 0 0 0 0

Sihora Industries Growth Rates

# 1 Year 3 Year 5 Year 10 Year
Sales CAGR 24% 20% 22% 0%
Operating Profit CAGR 113% 56% 45% 0%
PAT CAGR 0% 0% 0% 0%
# 1 Year 3 Year 5 Year 10 Year
Share Price CAGR NA% NA% NA% NA%
ROE Average 13% -5% -23% -8%
ROCE Average 17% 11% 11% 10%

Company Contact Information

Paras Healthcare Ltd.

Rahul Kumar

+91 124 430 2163

cs@parashospitals.com

1st Floor, Tower- B Paras Twin Towers Golf Course Road, Sector-54

IPO Lead Manager(s)

Paras Healthcare Ltd.

JM Financial Ltd.

BofA Securities India Ltd.

Nuvama Wealth Management Ltd.

Registrar Info

Paras Healthcare Ltd.

MUFG Intime India Pvt Ltd.

C-101, 1st Floor, 247 Park, Lal Bahadur Shastri Marg, Vikhroli (West), Mumbai Mumbai City Maharashtra 400083

rnt.helpdesk@in.mpms.mufg.com

https://in.mpms.mufg.com/

Frequently Asked Questions

All You Need To Know About IPO

When you leave without vesting, generally unvested ESOPs are cancelled. Vested ESOPs usually can be exercised after you depart, often within 3 to 6 months, depending on the company's ESOP plan.

For companies listed on a stock exchange, you can sell the shares any time after you exercise the ESOP option and the shares are in your demat account. If the company is unlisted or otherwise a startup, you can only sell the shares if and when the company announces a buyback or has a process for secondary sales.

Whenever you exercised your options to hold shares, you entered into a market risk situation, and if the valuation of the company drops, so do the shares.

Yes. ESOPs are valuable to the employer in that the employer is able to retain the best talent, align employee interests with company goals, and preserve cash while rewarding performance.

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