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Artemis Medicare Services Limited

ARTEMISMED.NS
54
Medical - Care Facilities · Healthcare
Price
$345.70
-2.85 (-0.82%)
Market Cap
$54.67B
Exchange
NSE
Winston Score
54
Winston is curious
Mixed quality — meaningful strengths and weaknesses.
Data as of Sep 14, 2026 · filings through Jun 30, 2026

§How the score breaks down

Quality
Mixed
Growth
Exceptional
Cash Flow
Mixed
Stability
Mixed
Valuation
Mixed
Dividends
Weak
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Share count rising — dilution

+13.6% over 4y

The company has issued more shares over this period, which dilutes each existing shareholder’s stake.

Diluted shares outstanding: 139.0M (2022) → 158.0M (2026)

§Winston Score History

The full picture

Artemis Medicare Services Limited engages in the management and operation of multi-specialty hospitals in India and internationally. The company provides medical and surgical intervention, and inpatient and outpatient services. It also offers billing and insurance, childcare, emotional and support program, full body checkup, international patient, medical interpreter and record, mind body medicine, nursing, nutrition, patient and family advisory, patient advocacy and portal, pre-admission testing, and smoking cessation program services, as well as home care services. Artemis Medicare Services Limited was incorporated in 2004 and is based in Gurugram, India.

Growth Profile

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+12.7% YoY

YoY Growth Rate

Steady revenue growth

EPS Growth

+46.7% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

₹0/ year

↓ Declining (-100% vs prior year)

0.0% of revenue

R&D spend declining — could signal cost-cutting or efficiency

Cash Position

Cash flow positive

₹0 cash & investments

Company generates more cash than it spends — no dilution risk from fundraising

Growth + cash flow

Artemis Medicare Services Limited is a rare growth stock that's already generating positive cash flow while growing at 13%. The Winston Score doesn't fully credit this transition from "burner" to "earner."

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale
Gross Margin
22.3%
Thin — 22.3% gross margin
Profit after running costs
Operating Margin
15.2%
Healthy — 15.2% operating margin
Return on the money invested
ROCE
13.2%
Good — 13.2% return on capital

ROIC between 5% and 15%. They earn 5 to 15 cents back per year on every dollar invested.

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Growth

Sales growth
Sales YoY
+15.0%
Fast-growing sales (+15.0% YoY)
Profit growth
EPS YoY
+37.4%
Earnings growing fast (+37.4% YoY)

Earnings growing 25%+ a year. The compounder zone.

How steady the profit is
EPS Consistency
8/8 quarters
Every recent quarter grew earnings vs last year

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Cash Flow

Profit that turns into cash
Cash Conversion
71%
Modest — 71% of profit becomes cash
Spare cash per sale
FCF Margin
1.2%
Thin free cash flow (1.2%)

FCF margin between 0% and 10%. Some cash from sales, but not a lot.

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Stability

What it owes vs what it owns
Debt / Equity
N/A
Data not available
Covers its interest
Interest Cover
4.65x
Adequate interest coverage (4.7x)

Interest coverage between 3 and 8. Profits cover interest several times over.

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Valuation

Price vs profit
P/E Ratio (TTM)
45.2x
Expensive — P/E 45.2

P/E over 35. The market is pricing in heavy, sustained growth.

Cheaper or dearer next year
P/E vs Forward
+6.0
GROWING
Earnings expected to grow meaningfully — cheaper on forward P/E (45.2 → 39.3)

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Dividends

Dividend
Dividend Yield
0.13%
Small dividend — 0.13% yield

Modest yield. The bulk of any return needs to come from price appreciation.

Dividend record
Dividend Growth
N/A
Data not available

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