52-week range
Price risk
Balance sheet & cash
Was the rally earned?
Partly.
- Most of the rise came from investors paying a higher multiple (P/E 22.0x to 43.4x); per-share earnings took off 45 points.
- The share count rose 34%.
What do "pts" mean?
"pts" are percentage points of the share price return. The parts add up to the total shown for each period. Because price = P/E × net profit ÷ share count, higher profit pushes the price up, a higher P/E pushes it up, and more shares push it down.
Example: if the price rose 34% and profit growth accounts for +58 pts while a lower P/E accounts for -24 pts, then 58 - 24 = 34. The +58 is not the profit growth rate itself: it is the part of the price move that profit growth explains.
Not shown for 3 years and 5 years: earnings were negative at one end, or there is not enough history.
Net profit is trailing twelve months as reported with a 60-day lag.
What is the price implying?
At a P/E of 38.8x, the price would imply about 23.2%/yr earnings growth for 10 years under the same assumptions, but it is not ranked.
Below the ₹1,000 cr market-cap floor used for the lists.
“Implied growth” is what the current price would require under our stated assumptions, not what we expect.
What prices imply across Health Technology The market-wide Expectations lists
What changed?
- Oct '26Volume reached 8.2x its 50-day median on 2026-10-21; price -2.7% that day.
- Sep '26Share count is up 34.5% over 12 months.
- Aug '26Volume reached 5.5x its 50-day median on 2026-08-18; price +5.0% that day.
- Jun '26Regained the 2025-09 peak, 3 months after the low.
- Jun '26Volume reached 58.7x its 50-day median on 2026-06-11; price +5.5% that day.
- Mar '26Fell 36% from the Sep 2025 peak to the Mar 2026 low.
- Mar '26Volume reached 12.8x its 50-day median on 2026-03-12; price -1.3% that day.
Events are generated from the data by fixed rules.
The month shown is when the change became visible in the reported figures, assuming a 60-day lag after each quarter end; it is not an announcement date.
Where price and fundamentals disagree, market-wide Rewind the whole market to any month
Are profits backed by cash?
4 of 5 checks are within range, 1 near a threshold.
Tap a check to see how it is measured.
Other income reliance2%Within range
Other income as a share of pre-tax profit (trailing twelve months): 2.0%. Bands: below 15%, 15% to 35%, above 35%.
Tax rate27%Within range
Median quarterly effective tax rate over about 2.5 years: 27.4%. Bands: 15% to 35%, 5% to 15% or 35% to 50%, outside 5% to 50%.
Cash conversion5.28xWithin range
Operating cash flow divided by net profit over the last three fiscal years: 5.28x (cash from operations ₹153 cr, net profit ₹29 cr). Bands: 0.8x and above, 0.5x to 0.8x, below 0.5x.
Free cash flow4 of 5 yrsWithin range
Fiscal years with positive free cash flow in the last 5: 4. Bands: at least 80% of years, 40% to 80%, below 40%.
Receivable days vs history—Not enough data
Not enough reported data to compute this.
Capital work in progress40% of fixed assetsNear threshold
Capital work-in-progress is 40% of fixed assets. Bands: not rising or up to 30%; rising for three years and above 30%; rising and above 60%.
Payable days—Not enough data
Not enough reported data to compute this.
How to read this
Each check is a named rule with fixed thresholds, not a score. Annual statements are the latest restated figures, so a past year may differ from what was originally reported.
Who has been buying and selling?
- Since Sep 2025, DIIs added 1.6 pts; FIIs trimmed 0.6 pts.
- The number of shareholders fell from 18,669 to 12,612 (-32%) between Sep 2025 and Jun 2026.
Holdings, Jun '26
How each group changed
Number of shareholders
Quarterly shareholding as reported, labelled by the quarter it covers (it becomes visible about two months later).
Shareholder counts are only available for recent quarters.
How rough has the ride been?
Monthly share price
Last 90 trading days
Drawdown from peak
Largest drawdowns
-36.1% (2025-09 peak to 2026-03 low, recovered 2026-06)
-23.8% (2026-10 peak to 2026-10 low, not yet recovered)
-17.8% (2026-07 peak to 2026-08 low, recovered 2026-08)
Most recent volume spikes
2026-10-21: 8.2x the 50-day median, price -2.7% that day
2026-10-07: 5.4x the 50-day median, price +4.8% that day
2026-08-18: 5.5x the 50-day median, price +5.0% that day
Where does it rank among Health Technology peers?
Each cell is the company's percentile rank among its Health Technology peers (non-financial companies) that month.
Darker is better-ranked.
Rows marked ↓ are inverted (lower debt, shorter cash cycle and a lower P/E rank higher).
Percentiles use today's listed companies in the sector and need at least 5 peers with a value; grey cells have too few.
ROE is computed from net profit and book value where the source does not report it.
The Health Technology sector page Watch it move against Health Technology in the Observatory
What else looks like this?
Companies with the most similar financial profile today, regardless of industry.
| Company | Sector | Similarity | Closest on |
|---|---|---|---|
| ROYAL ORCHID HOTELS (ROHLTD) | Consumer Services | 69% | promoter holding, operating margin |
| SARLA PERFORMANCE FIBERS (SARLAPOLY) | Process Industries | 62% | market cap, operating margin |
| COMMERCIAL SYN BAGS (COMSYN) | Process Industries | 54% | revenue, market cap |
| ONE POINT ONE SOLUTIONS (ONEPOINT) | Commercial Services | 53% | P/E, operating margin |
| PARIN ENTERPRISES (PARIN) | Consumer Durables | 53% | revenue, debt/equity |
| BAJAJ HEALTHCARE (BAJAJHCARE) | Health Technology | 57% | ROCE, P/E |
| SMS PHARMACEUTICALS (SMSPHARMA) | Health Technology | 29% | P/E, operating margin |
| NGL FINE CHEM (NGLFINE) | Health Technology | 28% | revenue, operating margin |
Similarity is statistical, based on reported metrics; it does not imply similar business quality or future returns.
What happened next to similar setups
- We found 50 past situations where a non-financial company looked like AMANTA HEALTHCARE LIMITED today on valuation, return on capital, margins, debt, growth, price momentum, size and volatility.
- Over the following 12 months the middle half of them returned −36% to +34% vs the market, against −6% for all non-financial companies in the same months.
- The gap against the base rate (−4.4%, 80% range −10.8% to +3.4%) is within what chance and overlapping periods produce.
Where the 50 outcomes landed
Each dot is one past situation (hover or tap for details) · Solid dots are the closest matches, listed below · Shaded is the middle half of all companies in the same months · 3 beyond the range shown, drawn at the edge
50 past situations · 50 companies · 33 months · 2020–2025
The closest matches
| Company | When | P/E | ROCE | 12M mom. | Drawdown | Next 12 months |
|---|---|---|---|---|---|---|
| DYNAMATECH Producer Manufacturing |
Sep 2023 | 60x | 10% | +79% | −9% | +35% |
| ONEPOINT Commercial Services |
Oct 2023 | 68x | 17% | +110% | −13% | +46% |
| ABCIND Consumer Non-Durables |
Oct 2025 | 47x | 10% | +10% | −16% | −59% |
| MMFL Producer Manufacturing |
Oct 2021 | 45x | 8% | +177% | −8% | −10% |
| PRIVISCL Process Industries |
Feb 2025 | 42x | 12% | +25% | −26% | +76% |
Show the other 3 matches
| Company | When | P/E | ROCE | 12M mom. | Drawdown | Next 12 months |
|---|---|---|---|---|---|---|
| ARIHANTSUP Finance |
Feb 2021 | 29x | 9% | +59% | −8% | +254% |
| GANECOS Process Industries |
Jun 2023 | 34x | 11% | +81% | −3% | −12% |
| KHFM Commercial Services |
Apr 2025 | 58x | 11% | +23% | −23% | −50% |
How reliable is this?
Matched on P/E, P/S, ROCE, operating margin, debt/equity, interest cover, revenue growth, 12-month momentum, drawdown from 12-month high, size and volatility. Closest on: ROCE, P/E and drawdown from 12-month high. One match per company and at most 7 from any one month.
Independent periods: the matches fall in 6 distinct 12-month windows. Matches from nearby months share the same market conditions, so fewer windows means less evidence.
Monthly history (14 months)
| Month | P/E | Revenue (TTM) | ROE | ROCE | Debt / Equity |
|---|---|---|---|---|---|
| 2026-10 | 43.4x | ₹291 cr | 6.6% | 12.0% | 1.1x |
| 2026-09 | 50.5x | ₹291 cr | 6.7% | 12.0% | 1.1x |
| 2026-08 | 45.6x | ₹288 cr | 6.8% | 12.0% | 1.1x |
| 2026-07 | 40.8x | ₹288 cr | 6.8% | 12.0% | 1.1x |
| 2026-06 | 38.9x | ₹288 cr | 6.8% | 12.0% | 1.1x |
| 2026-05 | 26.2x | ₹283 cr | 15.8% | 15.0% | 2.1x |
| 2026-04 | 27.4x | ₹283 cr | 15.8% | 15.0% | 2.1x |
| 2026-03 | 20.8x | ₹283 cr | 15.8% | 15.0% | 2.1x |
| 2026-02 | 20.3x | ₹276 cr | 15.4% | 15.0% | 2.1x |
| 2026-01 | 20.3x | ₹276 cr | 15.4% | 15.0% | 2.1x |
| 2025-12 | 21.5x | ₹276 cr | 15.4% | 15.0% | 2.1x |
| 2025-11 | 19.1x | ₹272 cr | 16.5% | 15.0% | 2.1x |
| 2025-10 | 22.0x | ₹272 cr | 16.5% | 15.0% | 2.1x |
| 2025-09 | 24.6x | ₹272 cr | 16.5% | 15.0% | 2.1x |