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Last Updated: March 31, 2026, 4:31 am
Author: Getaka|Social: XLinkedIn
Stock Ticker - BSE: 526504 | NSE: DOLPHMED

Dolphin Medical Services Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹0.25Overvalued by 94.88%vs CMP ₹4.88

P/E (15.0) × ROE (0.3%) × BV (₹6.68) × DY (2.00%)

Defaults: P/E=15

₹2.19Overvalued by 55.12%vs CMP ₹4.88
MoS: -122.8% (Negative)Confidence: 38/100 (Low)Models: 1 Under, 2 Over
ModelCategoryValueWeightSignal
PE-ROEEarnings₹0.2549%Over (-94.9%)
Net Asset ValueAssets₹6.6729%Under (+36.7%)
Revenue MultipleRevenue₹0.5222%Over (-89.3%)
Consensus (3 models)₹2.19100%Overvalued
Key Drivers: ROE 0.3% is below cost of equity. | Wide model spread (₹0–₹7) — high uncertainty.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: 2.3% · Defaults: P/E=15

*Investments are subject to market risks

Investment Snapshot

40
Dolphin Medical Services Ltd scores 40/100 (Weak)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health25/100 · Weak
ROCE 0.2% WeakROE 0.3% WeakD/E 0.47 ModerateInterest Coverage 0.0x RiskyProfitable 0/5 years Inconsistent
Smart Money50/100 · Moderate
Promoter holding at 26.4% Stable
Earnings Quality55/100 · Moderate
OPM expanding (-20% → -6%) ImprovingWorking capital: 646 days Capital intensive
Quarterly Momentum45/100 · Moderate
Revenue (4Q): -9% YoY DecliningOPM: 14.3% (up 10.1% YoY) Margin expansion
Industry Rank30/100 · Weak
ROCE 0.2% vs industry 14.7% Below peersROE 0.3% vs industry 13.9% Below peers3Y sales CAGR: 14% Moderate

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores are computed from reported financials and recalculated daily. Not investment advice.

Share Price and Basic Stock Data

Last Updated: March 31, 2026, 4:31 am

Market Cap 7.37 Cr.
Current Price 4.88
Intrinsic Value₹2.19
High / Low 4.88/1.98
Stock P/E
Book Value 6.68
Dividend Yield0.00 %
ROCE0.18 %
ROE0.30 %
Face Value 10.0
PEG Ratio0.00

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for Dolphin Medical Services Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
NG Industries Ltd 45.3 Cr. 135 180/114 1172.59 %5.69 %0.99 % 10.0
Global Longlife Hospital and Research Ltd 15.0 Cr. 14.3 33.0/11.6 24.30.00 %13.7 %17.7 % 10.0
Gian Lifecare Ltd 6.50 Cr. 6.29 18.0/5.84 18.70.00 %3.00 %0.81 % 10.0
Fortis Malar Hospitals Ltd 85.4 Cr. 45.6 98.7/40.818.8 18.30.00 %0.83 %0.56 % 10.0
Family Care Hospitals Ltd 14.7 Cr. 2.72 5.83/2.55 1.510.00 %79.2 %85.5 % 10.0
Industry Average26,819.31 Cr611.5975.1783.710.36%14.71%13.91%9.04

All Competitor Stocks of Dolphin Medical Services Ltd

Quarterly Result

MetricDec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales 0.220.080.150.180.200.140.140.250.240.140.170.180.21
Expenses 0.200.160.130.170.200.270.130.230.230.190.140.160.18
Operating Profit 0.02-0.080.020.010.00-0.130.010.020.01-0.050.030.020.03
OPM % 9.09%-100.00%13.33%5.56%0.00%-92.86%7.14%8.00%4.17%-35.71%17.65%11.11%14.29%
Other Income 0.010.010.010.010.010.010.010.010.010.010.010.010.01
Interest 0.000.000.000.000.000.000.000.000.000.000.000.000.00
Depreciation 0.020.020.010.010.010.010.010.010.010.030.010.030.03
Profit before tax 0.01-0.090.020.010.00-0.130.010.020.01-0.070.030.000.01
Tax % 0.00%11.11%0.00%0.00%7.69%0.00%0.00%0.00%0.00%0.00%0.00%
Net Profit 0.01-0.100.010.010.00-0.130.010.020.01-0.070.030.010.02
EPS in Rs 0.01-0.070.010.010.00-0.090.010.010.01-0.050.020.010.01

Last Updated: March 3, 2026, 10:16 am

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 27, 2026, 4:00 am

MetricMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 0.960.360.570.350.150.060.180.470.520.610.680.780.70
Expenses 1.060.390.390.330.230.200.526.240.660.690.760.780.67
Operating Profit -0.10-0.030.180.02-0.08-0.14-0.34-5.77-0.14-0.08-0.080.000.03
OPM % -10.42%-8.33%31.58%5.71%-53.33%-233.33%-188.89%-1,227.66%-26.92%-13.11%-11.76%0.00%4.29%
Other Income 0.000.010.150.020.09-0.630.055.550.040.040.040.040.04
Interest 0.050.050.060.010.010.010.010.010.010.010.010.010.00
Depreciation 0.710.520.340.330.330.240.060.060.060.060.050.060.10
Profit before tax -0.86-0.59-0.07-0.30-0.33-1.02-0.36-0.29-0.17-0.11-0.10-0.03-0.03
Tax % 0.00%-3.39%-28.57%-10.00%-12.12%-1.96%5.56%6.90%5.88%9.09%10.00%0.00%
Net Profit -0.86-0.57-0.05-0.27-0.30-1.01-0.39-0.31-0.19-0.12-0.10-0.03-0.01
EPS in Rs -0.57-0.38-0.03-0.18-0.20-0.67-0.26-0.21-0.13-0.08-0.07-0.02-0.01
Dividend Payout % 0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)33.72%91.23%-440.00%-11.11%-236.67%61.39%20.51%38.71%36.84%16.67%70.00%
Change in YoY Net Profit Growth (%)0.00%57.51%-531.23%428.89%-225.56%298.05%-40.87%18.20%-1.87%-20.18%53.33%

Dolphin Medical Services Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2014-2015 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:8%
5 Years:34%
3 Years:14%
TTM:21%
Compounded Profit Growth
10 Years:7%
5 Years:14%
3 Years:23%
TTM:91%
Stock Price CAGR
10 Years:11%
5 Years:11%
3 Years:6%
1 Year:0%
Return on Equity
10 Years:-2%
5 Years:-1%
3 Years:-1%
Last Year:0%

Last Updated: September 5, 2025, 3:16 pm

Balance Sheet

Last Updated: December 4, 2025, 2:46 am

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 15.1015.1015.1015.1015.1015.1015.1015.1015.1015.1015.1015.1015.10
Reserves -1.72-2.30-2.34-2.61-2.91-3.91-4.30-4.61-4.80-4.92-5.03-5.06-5.02
Borrowings 8.108.058.168.218.216.226.370.610.680.760.800.870.83
Other Liabilities 0.750.740.670.650.610.580.711.231.261.231.271.171.30
Total Liabilities 22.2321.5921.5921.3521.0117.9917.8812.3312.2412.1712.1412.0812.21
Fixed Assets 11.2314.5010.3610.039.706.796.743.002.942.872.832.766.67
CWIP 5.932.145.935.935.935.935.934.094.094.094.094.090.31
Investments 0.520.520.520.410.410.410.410.410.410.410.410.410.41
Other Assets 4.554.434.784.984.974.864.804.834.804.804.814.824.82
Total Assets 22.2321.5921.5921.3521.0117.9917.8812.3312.2412.1712.1412.0812.21

Reserves and Borrowings Chart

Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + 0.180.05-0.12-0.070.000.02-0.130.27-0.10-0.07-0.05-0.06
Cash from Investing Activity + -0.170.000.010.030.001.97-0.010.000.000.000.000.00
Cash from Financing Activity + -0.01-0.050.110.050.00-1.990.15-0.250.070.070.050.06
Net Cash Flow 0.000.000.000.000.000.000.010.03-0.020.000.000.00
Free Cash Flow 0.180.05-0.11-0.070.001.99-0.140.27-0.10-0.07-0.05-0.06
CFO/OP -180%-167%-56%-200%0%-14%38%-5%71%88%62%

Free Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow-8.20-8.08-7.98-8.19-8.29-6.36-6.71-6.38-0.82-0.84-0.88-0.87

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days 0.000.000.000.000.000.000.000.000.000.000.000.00
Inventory Days 36.5036.5021.470.000.000.000.000.000.000.0033.1830.42
Days Payable 12.1773.000.000.000.00
Cash Conversion Cycle 24.33-36.5021.470.000.000.000.000.000.000.0033.1830.42
Working Capital Days 589.321,449.861,171.842,106.574,891.0011,619.173,629.72986.28898.46771.89687.06645.77
ROCE %-3.69%-2.55%-0.05%-0.96%-1.56%-1.69%-2.02%-1.98%-1.45%-0.91%-0.83%-0.18%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 26.44%26.44%26.44%26.44%26.44%26.44%26.44%26.44%26.44%26.44%26.44%26.44%
Public 73.56%73.56%73.56%73.56%73.57%73.56%73.57%73.57%73.57%73.57%73.57%73.57%
No. of Shareholders 9,1459,1509,1369,3609,3499,3589,3499,3499,3499,3499,3499,349

Shareholding Pattern Chart

No. of Shareholders

Dolphin Medical Services Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

This stock is not held by any mutual fund.

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 16Mar 15Mar 14Mar 13Mar 12
FaceValue 10.0010.0010.0010.0010.00
Basic EPS (Rs.) -0.03-0.38-0.57-1.31-0.99
Diluted EPS (Rs.) -0.03-0.38-0.57-1.31-0.99
Cash EPS (Rs.) 0.19-0.03-0.09-0.88-0.55
Book Value[Excl.RevalReserv]/Share (Rs.) 8.508.538.919.4710.78
Book Value[Incl.RevalReserv]/Share (Rs.) 8.508.538.919.4710.78
Revenue From Operations / Share (Rs.) 0.370.240.630.752.49
PBDIT / Share (Rs.) 0.21-0.02-0.06-0.390.25
PBIT / Share (Rs.) -0.01-0.36-0.53-0.82-0.17
PBT / Share (Rs.) -0.04-0.39-0.57-1.29-0.95
Net Profit / Share (Rs.) -0.03-0.38-0.57-1.31-0.98
NP After MI And SOA / Share (Rs.) -0.03-0.38-0.57-1.31-0.98
PBDIT Margin (%) 56.85-9.66-10.55-52.3210.07
PBIT Margin (%) -2.35-146.84-85.02-108.98-7.09
PBT Margin (%) -12.23-156.99-89.80-170.48-38.47
Net Profit Margin (%) -8.16-152.48-90.22-173.28-39.61
NP After MI And SOA Margin (%) -8.16-152.48-90.22-173.28-39.61
Return on Networth / Equity (%) -0.36-4.48-6.46-13.88-9.18
Return on Capital Employeed (%) -0.06-2.56-3.67-5.36-1.08
Return On Assets (%) -0.21-2.65-3.87-8.49-6.03
Long Term Debt / Equity (X) 0.630.620.600.570.47
Total Debt / Equity (X) 0.630.620.600.570.47
Asset Turnover Ratio (%) 0.020.010.040.040.14
Current Ratio (X) 29.5915.9717.4017.3617.80
Quick Ratio (X) 29.4615.8917.1017.0117.49
Interest Coverage Ratio (X) 5.76-0.95-2.21-0.850.32
Interest Coverage Ratio (Post Tax) (X) 0.17-14.03-17.86-1.82-0.26
Enterprise Value (Cr.) 10.0010.119.769.9510.69
EV / Net Operating Revenue (X) 17.6326.8410.188.722.84
EV / EBITDA (X) 31.01-277.52-96.45-16.6628.21
MarketCap / Net Operating Revenue (X) 3.125.291.671.460.78
Price / BV (X) 0.130.150.110.110.18
Price / Net Operating Revenue (X) 3.125.301.671.460.78
EarningsYield -0.02-0.28-0.53-1.19-0.50

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

Dolphin Medical Services Ltd. is a Public Limited Listed company incorporated on 21/09/1992 and has its registered office in the State of Telangana, India. Company's Corporate Identification Number(CIN) is L24239TG1992PLC014775 and registration number is 014775. Currently company belongs to the Industry of Hospitals & Medical Services. Company's Total Operating Revenue is Rs. 0.78 Cr. and Equity Capital is Rs. 15.10 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
Hospitals & Medical ServicesNo.417, Sanali Heavens, Ameerpet, Hyderabad Telangana 500073Contact not found
Management
NamePosition Held
Dr. G V Mohan PrasadManaging Director & CEO
Dr. M Lakshmi SudhaWholeTime Director & CFO
Mr. Nanapaneni Buddha SagarDirector
Mr. Narendra Seena KarkeraIndependent Director
Mr. Vinay Vishnuraj NayakIndependent Director

FAQ

What is the intrinsic value of Dolphin Medical Services Ltd and is it undervalued?

As of 14 April 2026, Dolphin Medical Services Ltd's intrinsic value is ₹2.19, which is 55.12% lower than the current market price of ₹4.88, suggesting the stock is overvalued. This is calculated using the PE ratio method factoring in ROE (0.30 %), book value (₹6.68), dividend yield (0.00 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of Dolphin Medical Services Ltd?

Dolphin Medical Services Ltd is trading at ₹4.88 as of 14 April 2026, with a FY2026-2027 high of ₹4.88 and low of ₹1.98. The stock is currently near its 52-week high. Market cap stands at ₹7.37 Cr..

How does Dolphin Medical Services Ltd's P/E ratio compare to its industry?

Dolphin Medical Services Ltd has a P/E ratio of , which is below the industry average of 75.17. This is broadly in line with or below the industry average.

Is Dolphin Medical Services Ltd financially healthy?

Key indicators for Dolphin Medical Services Ltd: ROCE of 0.18 % is on the lower side compared to the industry average of 14.71%; ROE of 0.30 % is below ideal levels (industry average: 13.91%). Dividend yield is 0.00 %.

Is Dolphin Medical Services Ltd profitable and how is the profit trend?

Dolphin Medical Services Ltd reported a net profit of ₹0 Cr in Mar 2025 on revenue of ₹1 Cr. Compared to ₹0 Cr in Mar 2022, the net profit shows a mixed trend.

Does Dolphin Medical Services Ltd pay dividends?

Dolphin Medical Services Ltd has a dividend yield of 0.00 % at the current price of ₹4.88. The company is currently not paying meaningful dividends.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Dolphin Medical Services Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE
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