Paras Healthcare Limited
RHP · filed 15 Oct 2026
Paras Healthcare Limited operates in the healthcare sector, and the draft prospectus indicates the company is currently loss-making with a revenue of Rs 168.387 crore and a negative profit of Rs 1.024 crore for the latest period. The financial trajectory shows a significant decline in revenue with a CAGR of -61.38% and a negative return on equity of -0.26%. The offer structure is not detailed in the provided text, and the most material risks include the company's inability to assure continued profitability in the future and the high attrition rates of healthcare professionals.
What stands out
Loss-making. The latest restated fiscal year reports a net loss.
Shrinking revenue. Restated revenue CAGR of -61.4%.
Risk factor. The Company has incurred losses during the three months period ended June 30, 2025 and Fiscals 2025 and 2024 on a consolidated basis of ₹ (10.24) million, ₹ (579.83) million and ₹ (153.31) million, respectively. While profitable in Fiscal 2026, the Company cannot assure continued profitability in th
Risk factor. The Company's Subsidiaries, Paras Healthcare (Ranchi) Private Limited and Plus Medicare Hospitals Private Limited, have collectively incurred losses of ₹ (203.82) million, ₹ (520.89) million, ₹ (822.38) million and ₹ (872.69) million during the three months period ended June 30, 2025 and in Fiscals
Risk factor. The Company's Subsidiaries, Paras Healthcare (Ranchi) Private Limited and Plus Medicare Hospitals Private Limited, incurred losses during the three months period ended June 30, 2025 and the last three Fiscals. The Company cannot assure these Subsidiaries will become profitable, or that they will be
How the offer is structured
- Prepayment or scheduled re-payment, in full or part, of certain outstanding borrowings availed by our Company₹321 Cr
- Investment in our wholly owned Subsidiary, PMHPL (which also operates our hospital in Srinagar), for repayment/prepayment of borrowings, in full or part, of PMHPL₹54.1 Cr
- General corporate purposes
Restated financials
Revenue
₹168 Cr
Latest fiscal year
Profit after tax
₹-1.0 Cr
Revenue CAGR
-61.4%
Return on equity
-0.3%
Debt / equity
2.00
| Fiscal year | Revenue | EBITDA | PAT | Net worth |
|---|---|---|---|---|
| 2024 | ₹1.13k Cr | ₹-15.3 Cr | ₹339 Cr | |
| 2025 | ₹1.29k Cr | ₹-58.0 Cr | ₹280 Cr | |
| 2026 | ₹168 Cr | ₹-1.0 Cr | ₹395 Cr |
Promoters, litigation & related parties
Related-party
0.0%
Share of revenue
Except as stated in this section, there are no outstanding (i) criminal proceedings, (ii) all actions by statutory and/or regulatory authorities, (iii) claims related to direct and indirect taxes, (iv) all other pending litigation or arbitration proceedings where the amount involved exceeds the Materiality Threshold, or (v) criminal proceedings and all actions by regulatory authorities and statutory authorities involving Key Managerial Personnel and Senior Management. Further, there are no outstanding litigation involving the Group Company that may have a material impact. There are no disciplinary actions, including penalties imposed by SEBI or the Stock Exchanges, against the Promoter in the last five Fiscals.
Risks the company discloses
The Company has incurred losses during the three months period ended June 30, 2025 and Fiscals 2025 and 2024 on a consolidated basis of ₹ (10.24) million, ₹ (579.83) million and ₹ (153.31) million, respectively. While profitable in Fiscal 2026, the Company cannot assure continued profitability in the future.(Financial Performance)
The Company had the lowest RoCE and RoE and the highest debt to equity ratio compared to listed peers in India in each of the three months period ended June 30, 2026 and June 30, 2025 and Fiscals 2025 and 2024.(Financial Performance)
The Company's Subsidiaries, Paras Healthcare (Ranchi) Private Limited and Plus Medicare Hospitals Private Limited, have collectively incurred losses of ₹ (203.82) million, ₹ (520.89) million, ₹ (822.38) million and ₹ (872.69) million during the three months period ended June 30, 2025 and in Fiscals 2026, 2025 and 2024, respectively. The Company cannot assure these Subsidiaries will turn profitable in the future.(Financial Performance)
The Company's Subsidiaries, Paras Healthcare (Ranchi) Private Limited and Plus Medicare Hospitals Private Limited, incurred losses during the three months period ended June 30, 2025 and the last three Fiscals. The Company cannot assure these Subsidiaries will become profitable, or that they will be able to raise adequate capital to continue their operations or meet their obligations independently.(Financial Performance)
The Company has experienced high attrition rates of 12.01%, 16.09%, 60.38%, 66.74% and 65.27% in the three months period ended June 30, 2026 and June 30, 2025 and in Fiscals 2026, 2025 and 2024, respectively. If unable to reduce or manage these rates, business, results of operations and financial condition may be adversely affected.(Operational)
The Company is highly dependent on doctors, nurses, other healthcare professionals and support staff. The Indian healthcare sector faces challenges relating to the availability of specialised doctors due to low patient-doctor ratios and the need for targeted workforce planning. The limited supply of healthcare professionals may result in increased compensation and higher recruitment and training costs.(Operational)
The Company's performance and growth strategy depends substantially on the ability to attract and retain experienced doctors, nurses and other healthcare professionals. The Company cannot assure that it will be able to attract and retain such professionals on commercially acceptable terms or at all, which may affect the ability to maintain adequate service levels and revenue from operations.(Operational)
The Company intends to utilize a portion of the Net Proceeds towards funding investment in Plus Medicare Hospitals Private Limited for repayment/prepayment of certain borrowings. If the Subsidiaries do not become profitable, or are not able to raise capital required on acceptable terms, or at all, their operations may be adversely affected, which will have an adverse effect on the Company's financial performance and results of operations.(Financial Performance)
How this document reads, dimension by dimension
Each bar is a fixed formula applied to the figures shown above, scored 0–100. This is a reading of what the company disclosed — not a recommendation to apply or avoid, not a price target, and not a prediction of listing performance. Dimensions that could not be extracted are excluded rather than assumed, so coverage varies between documents.