NSE: MEDIASSIST · BSE: 544088 · ISIN INE456Z01021
Medi Assist Healthcare Services Limited stock analysis
Medi Assist Healthcare Services Limited ranks #1040 in the TickerSutra evidence-ranked universe with a score of 57/100 and 91% data confidence. The latest captured fundamentals show ROCE of 14.1%, quarterly sales growth of 24.1% and quarterly profit growth of 23.6%.Monitor only
INVESTMENT EVIDENCE
What supports—and challenges—the thesis
Evidence in favour
- Low debt/equity of 0.06×
- 21.5% three-year sales CAGR
- Institutional ownership is rising
- No promoter shares are reported as pledged
Risks and constraints
- Promoter holding is below 25%
Still unresolved: Related-party exposure · Broad media sentiment
FINANCIAL TRAJECTORY
Recent operating history
| Period | Revenue | Operating profit | Net profit | Operating margin |
|---|---|---|---|---|
| 2022 | ₹394cr | ₹92cr | ₹64cr | 23.0% |
| 2023 | ₹505cr | ₹120cr | ₹74cr | 24.0% |
| 2024 | ₹635cr | ₹133cr | ₹69cr | 21.0% |
| 2025 | ₹723cr | ₹154cr | ₹92cr | 21.0% |
| 2026 | ₹905cr | ₹175cr | ₹89cr | 19.0% |
| TTM | ₹951cr | ₹181cr | ₹94cr | 19.0% |
EXCHANGE EVENT TRIGGERS
Latest corporate disclosures
MANAGEMENT COMMENTARY
Signals from filed documents
Some of the material risks being assessed and mitigated through the Company’s risk management framework include: 1. Client Concentration Risk Risks: We derive a significant portion of our revenues from a limited number of clients, with the top five contributing 64.8% of revenue. The loss of one or more large clients, or a decline in business or fees from them, could have an adverse effect on our business and results
Growth in FY26 came primarily from inorganic growth, along with expanding platform depth, more services per account, more benefits per member (particularly high-frequency OPD benefits), technology and SaaS monetisation, government scheme administration, and international benefits, which together increased the value generated per insured life and per claim handled. The result is visible in our numbers: 25.1% revenue g
At the same time, internal accrual and proceeds from preferential allotments enabled us to free our debt position. This strengthened our balance sheet and provides a strong foundation to support future growth, improve operating leverage and maintain a healthy cash position. Expenses Employee benefits expense.
Migration to MAtrix The trajectory within the year tells the story: EBITDA margin expanded from 17.1% in Q2 FY26 to 18.6% in Q3 FY26 and 19.9% in Q4 FY26, recovery driven by absorbed integration costs, rationalised support functions and the migration of transaction volumes onto a more automated platform. Margin Expansion Earlier integrations moved to positive contribution within a few quarters as processes were strea
Every percentage point of this ongoing shift from out-of-pocket payment to pooled, insured financing flows through an administration layer, and Medi Assist operates the largest one in India. Sources: [12] - ITeS companies disclosures [13], [14] - NASSCOM Tech Sector Review FY26 [19-21] - EY Parthenon [22-23] - Mirae Asset Sharekhan [24-28] - Ministry of Health and Family Welfare 36 37 MEDI ASSIST HEALTHCARE SERVICES
Medi Assist is the market leader in group health benefits administration, offering integrated solutions for insurers and corporates managing employee health plans at scale. Advanced, industry- first digital platforms streamline enrollment, claims processing and member engagement, while AI- driven fraud prevention supports loss ratio control and regulatory compliance. Group • End-to-end administration for ~11k corpora
Raksha Prime, enabled over 322,000 patients to experience instant bill-free discharge across approximately 6,000 hospitals. Paramount Health Services (PHS): Acquisition and Integration On 1 July 2025, upon receipt of approval from the Insurance Regulatory and Development Authority of India, we completed the acquisition of 100% of the equity share capital of Paramount Health Services and Insurance TPA Private Limited
Loans granted to subsidiaries are given in Notes to the Standalone Financial Statement. h) Details of utilizations of funds raised through preferential allotment or qualified institutional placement as specified under Regulation 32 (7A) of SEBI Listing Regulations: During the financial year under review, the Company raised capital amounting to INR 198.00 Crores through a preferential issue. The Company allotted 37,01
Nikhil Chopra, Chief Business Officer of the Company, assumed the role of Chief Executive Officer of Mayfair, with Mr. Michail Chopra transitioning to the role of Founder & Strategic Advisor, aligning the business more closely with the Company’s global strategy as MAven Global, MAven Gaurd and other modules are taken to international markets. Mayfair We Care The integration thesis rests on moving the acquired book on
HOW TO READ THIS PAGE
Evidence, freshness and limitations
What does the TickerSutra score mean?
The score ranks captured evidence across financial quality, growth, moat and margins, regulatory catalysts, governance, institutional trend and valuation comfort. It is a research-prioritization tool—not a buy recommendation or price target.
Which sources support this page?
Financial history, ownership and pledge data, NSE and BSE filings, annual reports and available earnings-call transcripts are combined here. Use the source trail and original exchange document before relying on a decision-critical fact.
Why can an item be unresolved?
Unresolved means the current captured source window did not provide enough evidence for that check. It does not establish that a risk or relationship is absent.
Maintained by TickerSutra Research · Snapshot updated 29 Sept 2026 · Read the methodology · Read the disclaimer
DIRECTOR & BUSINESS NETWORK
Loading corporate intelligence
Loading universe coverage and exchange-backed evidence…