Quick Ratios
Quarterly Results
Profit & Loss
Balance Sheet
Cash Flow
Ratios
Mkt Cap
Market Capitalization
₹12,839Cr
Rev Gr TTM
Revenue Growth TTM
8.50%
Peer Comparison
Compare up to 10 companies side by side across valuation, profitability, and growth.

RAINBOW
VS
| Quarter | Mar 2023 | Jun 2023 | Sep 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Mar 2025 | Jun 2025 | Sep 2025 |
|---|
|
Growth YoY Revenue Growth YoY% | 49.2 | 21.1 | 6.3 | 9.7 | 7.6 | 15.0 | 25.5 | 18.5 | 8.5 | 6.9 | 6.5 | 11.9 |
| 219 | 199 | 215 | 218 | 236 | 237 | 270 | 264 | 255 | 249 | 296 | 298 |
Operating Profit Operating ProfitCr |
| 30.9 | 30.5 | 35.3 | 35.1 | 30.9 | 28.4 | 35.2 | 33.8 | 31.0 | 29.4 | 33.5 | 33.0 |
Other Income Other IncomeCr | 9 | 8 | 8 | 9 | 13 | 12 | 11 | 13 | 15 | 20 | 8 | 11 |
Interest Expense Interest ExpenseCr | 14 | 15 | 13 | 14 | 17 | 18 | 18 | 18 | 18 | 18 | 19 | 20 |
Depreciation DepreciationCr | 23 | 25 | 27 | 28 | 32 | 34 | 35 | 35 | 34 | 34 | 36 | 40 |
| 70 | 56 | 85 | 85 | 69 | 53 | 105 | 94 | 77 | 71 | 102 | 98 |
| 16 | 14 | 22 | 22 | 18 | 14 | 26 | 25 | 20 | 18 | 27 | 24 |
|
Growth YoY PAT Growth YoY% | 339.3 | 7.0 | 2.7 | 7.4 | -5.2 | -4.2 | 25.1 | 10.2 | 10.7 | 35.4 | -4.3 | 7.2 |
| 17.0 | 14.4 | 19.0 | 18.6 | 15.0 | 12.0 | 18.9 | 17.3 | 15.3 | 15.3 | 17.0 | 16.6 |
| 5.3 | 4.0 | 6.2 | 6.1 | 5.0 | 3.9 | 7.8 | 6.8 | 5.5 | 5.3 | 7.4 | 7.1 |
| Financial Year | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM |
|---|
|
| | 37.9 | 37.9 | 25.1 | 35.1 | 32.5 | -9.6 | 49.8 | 20.5 | 10.5 | 16.9 | 6.4 |
| 129 | 205 | 268 | 335 | 394 | 522 | 487 | 669 | 777 | 868 | 1,026 | 1,099 |
Operating Profit Operating ProfitCr |
| 23.6 | 11.9 | 16.5 | 16.7 | 27.4 | 27.4 | 25.1 | 31.3 | 33.8 | 33.1 | 32.3 | 31.9 |
Other Income Other IncomeCr | 10 | 16 | 11 | 10 | 8 | 10 | 10 | 19 | 31 | 37 | 51 | 53 |
Interest Expense Interest ExpenseCr | 2 | 2 | 1 | 2 | 39 | 45 | 44 | 53 | 55 | 59 | 72 | 75 |
Depreciation DepreciationCr | 9 | 18 | 22 | 28 | 60 | 69 | 73 | 83 | 90 | 112 | 138 | 144 |
| 38 | 24 | 41 | 47 | 58 | 93 | 56 | 187 | 282 | 295 | 330 | 348 |
| 13 | 7 | 10 | 10 | 13 | 38 | 16 | 49 | 69 | 77 | 86 | 89 |
|
| | -31.8 | 85.3 | 15.7 | 22.9 | 24.1 | -28.5 | 250.5 | 53.1 | 2.8 | 11.9 | 6.4 |
| 14.7 | 7.3 | 9.8 | 9.0 | 8.2 | 7.7 | 6.1 | 14.2 | 18.1 | 16.8 | 16.1 | 16.1 |
| 26.4 | 18.2 | 7.0 | 8.1 | 4.8 | 6.0 | 4.4 | 14.8 | 20.9 | 21.4 | 24.0 | 25.4 |
| Financial Year | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 |
|---|
Equity Capital Equity CapitalCr | 9 | 9 | 9 | 44 | 44 | 44 | 44 | 94 | 102 | 102 | 102 | 102 |
| 166 | 275 | 308 | 307 | 317 | 351 | 391 | 498 | 958 | 1,157 | 1,367 | 1,416 |
Current Liabilities Current LiabilitiesCr | 35 | 42 | 56 | 70 | 92 | 130 | 122 | 125 | 144 | 149 | 151 | 208 |
Non Current Liabilities Non Current LiabilitiesCr | 15 | 13 | 14 | 15 | 463 | 480 | 511 | 564 | 567 | 756 | 751 | 845 |
Total Liabilities Total LiabilitiesCr |
Current Assets Current AssetsCr | 98 | 171 | 125 | 73 | 133 | 203 | 197 | 290 | 484 | 622 | 822 | 728 |
Non Current Assets Non Current AssetsCr | 134 | 179 | 274 | 375 | 794 | 817 | 884 | 1,006 | 1,293 | 1,549 | 1,555 | 1,859 |
Total Assets Total AssetsCr |
| Financial Year | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|
Operating Cash Flow Operating Cash FlowCr | 26 | 17 | 36 | 48 | 127 | 170 | 143 | 224 | 327 | 321 | 396 |
Investing Cash Flow Investing Cash FlowCr | -20 | -107 | -33 | -42 | -117 | -117 | -83 | -175 | -465 | -226 | -268 |
Financing Cash Flow Financing Cash FlowCr | -7 | 93 | -1 | -7 | -9 | -52 | -61 | -44 | 143 | -102 | -118 |
|
Free Cash Flow Free Cash FlowCr | -35 | -46 | -21 | -103 | 42 | 96 | 67 | 162 | 186 | -32 | 250 |
| 102.8 | 101.7 | 113.3 | 132.1 | 285.4 | 307.9 | 360.7 | 161.3 | 154.1 | 147.2 | 162.0 |
CFO To EBITDA CFO To EBITDA% | 63.9 | 62.2 | 67.1 | 71.5 | 85.7 | 86.5 | 87.6 | 73.4 | 82.5 | 74.9 | 80.8 |
| Financial Year | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|
Valuation Ratios Valuation Ratios |
Market Cap Market CapitalizationCr | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 7,412 | 13,175 | 14,214 |
Price To Earnings Price To Earnings | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 35.2 | 60.7 | 58.4 |
Price To Sales Price To Sales | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 6.3 | 10.2 | 9.4 |
Price To Book Price To Book | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 7.0 | 10.5 | 9.7 |
| -1.4 | -5.1 | -1.4 | -0.3 | 2.6 | 2.0 | 2.6 | 1.3 | 20.0 | 32.5 | 30.5 |
Profitability Ratios Profitability Ratios |
| 82.9 | 82.9 | 83.9 | 85.1 | 85.2 | 85.4 | 84.1 | 80.0 | 86.5 | 87.3 | 87.1 |
| 23.6 | 11.9 | 16.5 | 16.7 | 27.4 | 27.4 | 25.1 | 31.3 | 33.8 | 33.1 | 32.3 |
| 14.7 | 7.3 | 9.8 | 9.0 | 8.2 | 7.7 | 6.1 | 14.2 | 18.1 | 16.8 | 16.1 |
| 21.4 | 8.6 | 12.7 | 13.4 | 11.7 | 15.6 | 10.5 | 20.5 | 20.7 | 17.5 | 18.0 |
| 14.1 | 6.0 | 9.9 | 10.3 | 12.3 | 14.0 | 9.1 | 23.4 | 20.0 | 17.3 | 16.6 |
| 10.7 | 4.8 | 7.9 | 8.1 | 4.8 | 5.4 | 3.7 | 10.7 | 12.0 | 10.1 | 10.3 |
Operational Ratios Operational Ratios |
Solvency Ratios Solvency Ratios |
Liquidity Ratios Liquidity Ratios |
### **Overview**
Rainbow Childrens Medicare Ltd (RCML) is India’s **largest private, standalone pediatric and perinatal healthcare provider**, operating a highly scalable and integrated **hub-and-spoke model** across 22 hospitals and 5 clinics in 9 cities. With approximately **2,300 beds**, the company delivers comprehensive, child-centric care, focusing on **tertiary and quaternary pediatric services**, multispecialty treatments, and advanced maternal/obstetric care under the **‘Birthright by Rainbow’** brand.
RCML has established itself as a **pioneer in pediatric and mother-and-child healthcare**, with a strong emphasis on **clinical excellence, innovation, and doctor engagement**, backed by **NABH and JCI accreditations**.
---
### **Key Network & Infrastructure (Sep 2025)**
- **22 Hospitals** and **5 Clinics** across **Hyderabad, Bengaluru, Chennai, Delhi, Vijayawada, Visakhapatnam, Warangal, Guwahati, and Rajahmundry**.
- Total **bed capacity**: ~2,300, with **~1/3rd dedicated to critical care** (NICU/PICU).
- **Hub hospitals (200–250 beds)** offer **tertiary and quaternary care** (e.g., organ transplant, ECMO, pediatric neurosurgery).
- **Spoke hospitals (50–100 beds)** provide **primary, secondary, and emergency care**, Level 3 NICUs, 24/7 deliveries, and large OPD services.
---
### **Strategic Growth & Expansion**
#### **1. Hub-and-Spoke Model Expansion**
- **Established in Hyderabad**, scaling successfully in **Bengaluru**, and now being replicated in **Chennai and the National Capital Region (NCR)**.
- Planned expansion into **Tier-2 cities across Southern India** (e.g., Coimbatore, Rajahmundry).
- **Regional spokes** located 200–250 km from hubs extend access to underserved areas.
#### **2. New Projects & Capacity Additions**
- **Rajahmundry (100-bed hub)**: Serves the Godavari belt (10–12 million population); operational pending final approvals.
- **Coimbatore (130-bed hub)**: Under construction; to become a **regional super-specialty hub for Tamil Nadu**.
- **Bengaluru**:
- 90-bed hospital in **Electronic City** (Q2 FY2026 launch)
- 60-bed facility in **Hennur** (Q2 FY2026 launch)
- **Gurugram (NCR)**:
- 325-bed hub in Sector 44
- 125-bed spoke in Sector 56
- Total: 450-bed asset-heavy expansion into **North India**, pending approvals.
#### **3. Future Expansion Roadmap**
- Plans to add **~800 beds over the next 3 years**, with **50% via asset-light (build-to-suit, greenfield) models**.
- **Strategic focus** on high-growth geographies: **NCR, Southern India, and Northeast India**.
#### **4. Strategic Acquisitions & Partnerships**
- **Acquired 76% stake in Prashanthi Hospital, Warangal (100 beds)** – expands leadership in North Telangana.
- **76:24 partnership with Pratiksha Hospitals, Guwahati**:
- Rebrands as **‘Pratiksha Rainbow Children’s Hospital’** and **‘Birthright by Rainbow Hospitals’**.
- 150-bed facility (100 active; 50 to be commissioned) – positioned as **first comprehensive pediatric super-specialty hub in Northeast India**.
- Serves **seven northeastern states, Bhutan, Bangladesh, and Myanmar** – ideal for **pediatric medical tourism**.
---
### **Clinical & Service Offerings**
| **Brand** | **Services** |
|----------|-------------|
| **Rainbow Children's Hospital** | - Neonatal and Pediatric Intensive Care<br>- Multi-specialty pediatric care<br>- Organ Transplants (Liver, Kidney, Bone Marrow)<br>- Pediatric Cardiac Surgery & Intervention<br>- Pediatric Oncology, Neurology, Nephrology<br>- 24x7 Emergency & Retrieval Services |
| **Birthright by Rainbow** | - High-Risk Obstetric Care<br>- Fetal Medicine & Genetics<br>- In Vitro Fertilization (IVF)<br>- Gynecological Care & Natural Birthing |
- **IVF services**: Operational in **12 centers**, contributing **~3.2% of revenue**, with **50% YoY volume growth**.
- **Transplant Programs**: Active kidney, bone marrow, and liver transplant programs across Hyderabad, Bengaluru, and Chennai. First liver transplant completed in Chennai in 2025.
---
### **Innovation & Clinical Leadership**
- **Dr. Nageswara Rao Koneti**, Director of Rainbow Children’s Heart Institute, holds a **U.S. FDA patent** for the **KONAR-MF Occluder**, a device used to treat ventricular septal defects. Successfully deployed in **18,000+ patients across 90 countries**.
- **World-first fetal procedure** performed: **in-utero balloon valvuloplasty** with a novel closure device, saving a 700g fetus.
- Hosts **India’s largest private DNB pediatric training program** – over **230 trainees**; recognized as a **UK MRCPCH examination center**.
---
### **Doctor Engagement & Talent Model**
- **>910 full-time doctors** on retainer-based contracts with **24x7 availability**.
- Doctors **do not run private clinics**, ensuring **institution-first focus** and **high retention**.
- Multidisciplinary, team-based approach enhances emergency and critical care delivery.
- **Clinical excellence** ensured by specialists trained in the **US, UK, Canada, and Australia**.
---
### **Medical & Business Model Highlights**
| Feature | Detail |
|--------|--------|
| **Hub-and-Spoke Model** | Central hubs for quaternary care; spokes for accessibility and emergency care |
| **Child-Centric Infrastructure** | Vibrant interiors, play areas, trauma-informed design |
| **Revenue Mix** | ~50% insurance, ~50% out-of-pocket |
| **Revenue Drivers** | ICU care, quaternary procedures, IVF, deliveries |
| **ARPP Growth (YoY)** | +3% (Inpatient), +8% (Outpatient) |
| **Medical vs. Surgical** | 75–80% medical, 20% surgical (low volume, high complexity) |
| **Growth CAGR** | 16% over 3 and 5 years (per management) |
---
### **Digital & Operational Transformation**
- **Digitized core systems**: Migrated **Hospital Information System (HIS) to AWS**, enabling real-time connectivity across network.
- **AI-enabled content engine, chatbot (website/WhatsApp), and mobile app** for booking, payments, and consultations.
- **Telemedicine** with hybrid model: hub doctors support spoke clinics remotely.
- **AI-powered EMR, virtual ICU**, and process automation (RPA) under development.
---
### **Accreditations & ESG**
- **13 NABH-accredited** hospitals, **3 JCI-accredited** – making Rainbow the **only pediatric hospital chain in India with 3 JCI facilities**.
- **Birthright Fertility (Kondapur)** is **India’s first JCI-accredited fertility center**.
- **Three hospitals have EDGE certification** for sustainability.
- Self-funded expansion: all capital expenditures to be funded via **internal accruals and cash reserves**.
---
### **Financial & Operational Metrics (Selected, FY2024)**
- **Revenue**: ₹12,969 million | **EBITDA**: ₹4,289 million | **PAT**: ₹2,183 million
- **Patient Footfall**:
- Outpatient visits: 1.24 million
- Inpatient admissions: 87,736
- Deliveries: 15,798
- **Organ Transplants**: 75+ (2024)
- **Cardiac Surgeries**: 1,000+ (2024)
---
### **Strategic Positioning & Competitive Edge**
- **First-mover advantage** in standalone pediatric hospitals with integrated perinatal care.
- **Only pediatric chain** with multi-organ transplant, Level 4 NICUs, and IVF under one roof.
- **Hybrid digital+physical model** strengthens reach and patient loyalty.
- **Hub-and-spoke + asset-light expansion** enables efficient, scalable growth.
- **Doctor-led, consultant-driven model** ensures consistent, high-quality care.