Jupiter Life Line Hospitals Limited

Healthcare — Medical Care Facilities · NSE

₹249.00+₹9.35 (+3.90%)

DalalBaazaar Score

63 / 100

🟢 Good

Verdict

NEUTRAL

Risk

Moderate

Driven by negative free cash flow, small-cap size, which brings sharper price swings, falling profits.

In simple words: Reasonable but unspectacular business quality, though profits are falling even as sales grow. Cash generation is currently the main factor to watch.

Decision support, not a buy or sell call.

As of 18 Oct 2026, 7:03 pm

Understanding the Business

Company site ↗

The 60-second version of Jupiter Life Line Hospitals Limited — what it does, how it earns, and who it competes with, before any of the numbers below.

What does this company do?

Jupiter Life Line Hospitals Limited, a multi-specialty hospital, provides health care services under the Jupiter brand in India.

IndustryMedical Care Facilities

SectorHealthcare

Employees3,002

Annual revenue₹1,498 Cr

How does it make money?

Turns over ₹1,498 Cr a year. Of every ₹100 of sales, about ₹13 reaches shareholders as profit, with ₹25 left at the operating level before interest, tax and depreciation. Each of its 3,002 employees supports ₹49.9 lakh of revenue a year, the signature of a people-led business.

Revenue / employee₹49.9 lakh

Who are its competitors?

The closest listed comparisons in its industry are APOLLO HOSPITALS ENTER. L, SUN PHARMACEUTICAL IND L, CIPLA LTD. These are the companies its valuation and returns are measured against elsewhere in this report.

Compared side by side in Peers ↓

What is its competitive advantage?Little sign of one

Returns on capital of 13.3% are at or below what the capital likely costs. That is the financial pattern of a business competing largely on price, where advantage has to come from execution rather than position.

Peer median ROE14.5%

What is the outlook?

6 analysts covering the stock expect revenue to grow about 17.5% and earnings to grow about 26.7% in the year to 2028. These are estimates by people who follow the company, not a forecast for the wider industry.

Est. revenue growth+17.5%

Est. earnings growth+26.7%

Analysts6

What has been driving growth?

Sales and margins have both contributed to where profit is now. Over 3 years revenue moved +68% while net margin moved +59% relative to itself. What this cannot tell you is which products, customers or geographies did the work — that lives in the segment disclosures of the annual report.

Revenue effect+68%

Margin effect+59%

DalalBaazaar Score

63/ 100

Good

Weighted across six categories. Every point is explained below.

✗ P/E of 45.1x is demanding — it needs sustained high growth to justify
• P/E is close to its own historical median of 51.6x
✗ P/B of 5.29x is a steep premium to book

Quality vs. Valuation

Company Quality

71/ 100

Good

How good the business is, ignoring the share price entirely.

Valuation

42/ 100

Expensive

What you are being asked to pay, ignoring how good the business is.

A good business, but the price already reflects that. The quality is real; the question is whether you are overpaying for it today.

Historical Valuation

Current P/E

45.1x

3Y Median

51.6x

39 monthly readings · mean 65.2x · range 41.6x–124.3x

Sector Median

34.9x

median of 3 sector peers

🟢Current valuation is approximately 13% below its 3y median of 51.6x. Cheaper than its own history, which is worth a reason too: the market may be pricing in something the backward-looking numbers do not show.

⚠️Against its sector it trades 29% above the peer median of 34.9x.

vs. its own history

Fair

51.6x median over 39 months · -13%

vs. sector peers

Expensive

34.9x median of 3 peers · +29%

vs. generic bands

Expensive

Above 35x

EV/EBITDA

23.5x

PEG

1.17

What's Good / What's Bad

🟢 What's Going Well1

Consistently profitable
Profitable in every one of the last 4 reported years.

🔴 What Needs Attention2

Return on equity is falling
ROE has dropped from 19.9% to 12.6% — each rupee of shareholder capital earns less than it did.
Return on capital is falling
ROCE has declined from 19.6% to 13.3% — often a sign of competition or overexpansion.

Red Flags

2 items require attention · 2 watch

🟡Free cash flow is negativeFinancial
Free cash flow was -₹234 Cr in the latest year.
🟡Inventory building faster than salesFinancial
Inventory up 102% against revenue up 68% — stock may not be moving.

Investment Thesis

🟢 Bull CaseWhat could make this work?

Earnings have proved durable
Profitable in every one of the last 4 reported years. Consistency lowers the risk that any single bad year is structural rather than cyclical.

🔴 Bear CaseWhat could go wrong?

A premium to the sector to defend
It trades 29% above the peer median. That premium needs a reason that persists, or it closes.
Returns on shareholder capital are falling
ROE has dropped from 19.9% to 12.6%. Each rupee of equity earns less than it did, so profit growth increasingly depends on raising more capital rather than on the existing base working harder.
Size brings its own risk
Small Cap businesses are thinly traded, so exits are harder in a falling market and single events move the price more than they would for a larger company.

🟡 Key Things to WatchMeasurable tripwires, set against where this company stands today

1Revenue growth stays above 14% a year✓ 18.9% CAGR
Latest reported year was 18.2%. The bar is set below the established compounding rate, so ordinary variation does not trip it.
2EBITDA margin holds above 23%✓ 24.7%
Two points below today's level — enough room for noise, tight enough to catch real compression.
3Free cash flow remains positive✗ -₹234 Cr
Profit that never becomes cash eventually stops being profit.
4Debt / EBITDA stays below 2x✓ 1.6x
The ratio lenders write covenants against; it survives a small or negative equity base, unlike Debt/Equity.
5ROCE stays above 10%✓ 13.3%
Falling returns on capital are usually competition arriving, and show up here before they reach the margin.

Investment Checklist

6 / 12 checks passed

✗ Strong return on equity (ROE ≥ 15%)
✗ Strong return on capital employed (ROCE ≥ 15%)
✓ Healthy net margin (≥ 10%)
✗ Generates positive free cash flow
✓ Manageable leverage (Debt/Equity < 1.0)
✓ Adequate short-term liquidity (Current Ratio ≥ 1.0)
✓ Revenue growing year-over-year
✗ Profit growing year-over-year
✗ Not trading at an extreme valuation (P/E < 40x)
✓ Not buying right at the 52-week high
✓ Analyst consensus isn't majority-sell
✗ Short-term technical trend isn't bearish

Price history

Quick Metrics

3 good · 4 neutral · 4 weak

Market Cap

₹8,163 Cr

Small Cap

Smaller company — thin liquidity and deep drawdowns are normal here

P/E (Trailing)

45.1x

Expensive

Expensive — verify against sector peers

P/B Ratio

5.29x

Rich

Steep premium to book — needs high, durable returns to justify

EPS (TTM)

₹5.52

Profitable

Profitable on a per-share basis

ROE

12.6%

Moderate

Moderate capital efficiency

ROCE

13.3%

Moderate

Moderate return on the capital in the business

Debt/Equity

0.38x

Low

Conservative leverage

Revenue Growth (YoY)

18.2%

Healthy

Healthy top-line growth

Profit Growth (YoY)

-13.3%

Falling

Profits are shrinking

Dividend Yield

0.08%

Modest

Small cash return — most of the return has to come from the price

Free Cash Flow

-₹234 Cr

Cash burning

Spending more cash than the operations bring in

More Metrics

P/E (Forward)

30.4x

Improving

Below the trailing multiple — the street expects earnings to grow into the price

Operating Margin

12.9%

Average

Average margins

Net Margin

12.0%

Good

Strong bottom-line conversion

Current Ratio

3.02

Comfortable

Healthy short-term liquidity

Beta (vs Nifty)

0.12

Defensive

Steadier than the market

52W Range Position

13%

Near low

Near its 52-week low

Technical Snapshot

SMA 20 / SMA 50

258.2 / 283.3

Bearish alignment (short < long)

Price vs SMA 200

Below

Long-term downtrend

RSI (14)

35.3

Neutral momentum

Financial Trend (4-Year)

Metric	FY23	FY24	FY25	FY26	3Y CAGR
Revenue	₹893 Cr	₹1,070 Cr	₹1,301 Cr	₹1,498 Cr	+18.9%
EBITDA	₹209 Cr	₹262 Cr	₹318 Cr	₹370 Cr	+21.1%
EBITDA Margin	23.4%	24.5%	24.4%	24.7%	—
PAT (Net Profit)	₹73 Cr	₹177 Cr	₹193 Cr	₹194 Cr	+38.6%
EPS	₹2.22	₹5.69	₹5.89	₹5.92	+38.6%
ROE	19.9%	15.1%	14.2%	12.6%	—
ROCE	19.6%	18.6%	14.9%	13.3%	—
Total Debt	₹469 Cr	—	₹393 Cr	₹584 Cr	+7.6%
Free Cash Flow	₹40 Cr	₹29 Cr	-₹61 Cr	-₹234 Cr	—

🟢 Revenue has grown at 18.9% a year over 3 years.

🟢 EBITDA has grown at 21.1% a year over 3 years.

🟢 EBITDA Margin has risen from 23.4% to 24.7% over 3 years (+1.3 pts).

🟢 PAT (Net Profit) has grown at 38.6% a year over 3 years.

🟢 EPS has grown at 38.6% a year over 3 years.

🔴 ROE has fallen from 19.9% to 12.6% over 3 years (-7.4 pts).

🔴 ROCE has fallen from 19.6% to 13.3% over 3 years (-6.3 pts).

🔴 Total Debt has grown at 7.6% a year over 3 years.

🔴 Free Cash Flow has turned negative, from ₹40 Cr to -₹234 Cr.

Balance Sheet & Cash Flow — FY2026

Total Assets

₹2,383 Cr

Total Liabilities

₹839 Cr

Cash & Equivalents

₹55 Cr

Operating Cash Flow

₹268 Cr

Capex

-₹502 Cr

Shareholding (proxy)

Institutional Holding

24.3%

Insider Holding

65.8%

Corporate Actions

Dividend Rate

₹0.2

Ex-Dividend Date

22 May 2026

Analyst Consensus

Recommendations

4 Buy · 2 Hold · 0 Sell

Target Price (Mean)

₹345.67

+38.8% vs CMP

Target Range

₹310 – ₹410

Peer Comparison

Company	P/E	ROE
APOLLO HOSPITALS ENTER. L	54.3x	22.0%
SUN PHARMACEUTICAL IND L	34.9x	14.5%
CIPLA LTD	31.8x	9.8%

Recent News

3 mixed1 negative2 general

Jupiter Life Line Hospitals Share Price and Sector Analysis

Univest, 13 Oct

Earnings Beat: Jupiter Life Line Hospitals Limited Just Beat Analyst Forecasts, And Analysts Have Been Updating Their Models

Simply Wall Street, 05 AugAnalyst view

🟡Mixed / dependsBroker commentary — an opinion about the price rather than new information about the business.

HDFC Mutual Fund Buys 9.3 Lakh Shares of Jupiter Life Hospitals for Rs 139 Cr

HDFC Sky, 16 Jul

Jupiter Life Line Hospitals shares jump nearly 6% following block deal; all you need to know

Upstox, 16 JulPrice move

🟡Mixed / dependsA price move, which is not by itself a change in the business. Worth finding the cause before reading it as either good or bad.

Jupiter Life Line Hospitals Q1 net profit declines 15% as operating margin narrows

CNBC TV18, 31 JulResults

🔴Potentially negativeReported deterioration, which feeds the growth and margin inputs on this page directly.

Earnings call transcript: Jupiter Life Line Hospitals posts solid Q1 2027, stock swings lower

Investing.com, 03 AugResults

🟡Mixed / dependsA results event. The figures on this page update once the new statements reach the data feed, which usually lags the announcement.

Watch Items

Cross-check against the company's latest quarterly filing / investor presentation before acting.

DalalBaazaar Thesis

StrongFinancial Health · Growth

MiddlingBusiness Quality · Profitability · Risk

WeakValuation

Points for each in the Score ↑

Good business, demanding price

The quality is real and the price already reflects it. Buying here is a bet that the business keeps compounding for long enough to grow into the multiple — which good businesses often do, but it removes the margin for error that a lower price would have given you.

1 of 5 tripwires tripped — Free cash flow remains positive · see Key things to watch ↑