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NH - Fundamental Analysis: Financial Health & Valuation

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Rating: 3.7

Last Updated Time : 02 Feb 26, 01:17 pm

Fundamental Rating: 3.7

Stock Code NH Market Cap 36,825 Cr. Current Price 1,802 ₹ High / Low 2,372 ₹
Stock P/E 79.3 Book Value 114 ₹ Dividend Yield 0.25 % ROCE 19.4 %
ROE 21.0 % Face Value 10.0 ₹ DMA 50 1,850 ₹ DMA 200 1,783 ₹
Chg in FII Hold 0.61 % Chg in DII Hold 0.15 % PAT Qtr 138 Cr. PAT Prev Qtr 87.4 Cr.
RSI 45.4 MACD -34.6 Volume 1,83,215 Avg Vol 1Wk 3,11,306
Low price 1,296 ₹ High price 2,372 ₹ PEG Ratio 1.71 Debt to equity 0.69
52w Index 47.0 % Qtr Profit Var 30.6 % EPS 22.7 ₹ Industry PE 45.2

📊 Core Financials

  • Revenue & Profitability: Quarterly PAT improved from 87.4 Cr. to 138 Cr. (+30.6%), showing strong earnings momentum. EPS at 22.7 ₹ reflects decent profitability.
  • Margins: ROCE at 19.4% and ROE at 21.0% highlight good efficiency and shareholder returns.
  • Debt: Debt-to-equity ratio of 0.69 indicates moderate leverage, manageable but worth monitoring.
  • Cash Flow: Dividend yield of 0.25% is very modest, suggesting reinvestment focus rather than strong shareholder payouts.

💹 Valuation Indicators

  • P/E Ratio: 79.3 vs Industry PE of 45.2 → Significantly overvalued compared to peers.
  • P/B Ratio: Current Price (1,802 ₹) / Book Value (114 ₹) ≈ 15.8 → Very high, signals premium valuation.
  • PEG Ratio: 1.71 → Fair but leaning expensive relative to growth.
  • Intrinsic Value: Current price trades above fair value zone, limiting near-term upside.

🏭 Business Model & Competitive Advantage

  • NH operates in healthcare services, benefiting from rising demand for specialized medical care.
  • Strong brand presence and expansion strategy provide competitive advantage.
  • Moderate leverage and improving profitability strengthen long-term sustainability.

📈 Entry Zone & Long-Term Guidance

  • Entry Zone: Attractive accumulation range between 1,500 ₹ – 1,600 ₹, closer to support levels and below DMA 200.
  • Long-Term Holding: Suitable for investors seeking exposure to healthcare growth. Staggered buying recommended due to high valuations.

✅ Positive

  • Quarterly PAT growth (+30.6%) shows earnings momentum.
  • ROE (21.0%) and ROCE (19.4%) highlight efficiency.
  • FII holding increased by 0.61%, showing foreign investor confidence.
  • DII holding increased by 0.15%, reflecting domestic institutional support.

⚠️ Limitation

  • High P/E (79.3) and P/B (15.8) ratios indicate stretched valuations.
  • Dividend yield of 0.25% is very modest, limiting passive income appeal.
  • MACD at -34.6 suggests weak near-term momentum.

📉 Company Negative News

  • Valuation multiples remain significantly higher than industry averages.
  • Low dividend yield reduces attractiveness for income-focused investors.

📈 Company Positive News

  • Quarterly PAT rose from 87.4 Cr. to 138 Cr.
  • FII inflows (+0.61%) highlight foreign investor interest.
  • DII inflows (+0.15%) show domestic institutional support.

🌐 Industry

  • Healthcare sector benefits from rising demand for specialized services and long-term structural growth.
  • Industry PE at 45.2 suggests NH trades at a steep premium, reflecting growth expectations.

🔎 Conclusion

NH demonstrates strong fundamentals with improving profitability, decent return ratios, and institutional support. However, valuations are stretched with high P/E and P/B ratios, limiting near-term upside. Investors may consider entering around 1,500–1,600 ₹ for long-term holding, while avoiding aggressive buying at current levels. The company remains fundamentally healthy and well-positioned in India’s healthcare growth story.

I can also outline technical support and resistance zones using RSI, MACD, and DMA data to complement this fundamental analysis if you’d like.

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