3 Healthcare Services Stocks With a Strong Future Roadmap: Yatharth Hospital & Trauma Care Services, Shalby and Krsnaa Diagnostics

Healthcare services stocks give investors exposure to hospitals, joint replacement centres and diagnostic networks. Results depend on bed occupancy, patient volumes and contract wins, which is why capacity use matters as much as headline growth.

This list covers three regional hospital and diagnostic chain stocks: Yatharth Hospital & Trauma Care Services for multi-speciality hospitals in the Delhi NCR region, Shalby for joint replacement hospitals and orthopaedic implants and Krsnaa Diagnostics for diagnostic services through government partnerships. Every figure comes from the latest reported financials and the 7 October 2026 market close. Companies without complete current figures were left out.

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What Are Healthcare Services Stocks?

Healthcare services stocks are shares of companies that run hospitals or diagnostic networks. Results depend on bed occupancy, patient mix, test volumes, payer rates and operating margin, so full beds and steady contracts separate the stronger names.

Healthcare Services Stocks at a Glance

The table compares size, valuation, return on equity and debt for the three healthcare services stocks as of the 7 October 2026 close.

Among regional hospital and diagnostic chain stocks, all three trade below their industry P/E multiples.

Why Do Healthcare Services Stocks Have a Strong Roadmap in India?

Healthcare services stocks have a strong roadmap in India because insurance cover is widening, smaller cities need more beds and governments partner with private players for diagnostics. Three drivers stand out.

• Wider insurance cover: More patients can afford hospital care.
• Regional capacity gaps: Cities outside the metros need more beds.
• Public-private diagnostics: Government partnerships create steady test volumes.

Yatharth Hospital & Trauma Care Services: Multi-Speciality Hospitals in NCR Anchor the Roadmap

Yatharth Hospital's roadmap rests on multi-speciality hospitals in the Delhi NCR region, with new beds and acquisitions lifting patient volumes.

Revenue grew from Rs 402.59 crore in FY22 to Rs 1,232.96 crore in FY26, a 206.3% rise, and FY26 revenue was 37.5% higher than FY25. FY26 net profit rose 30.5% to Rs 170.31 crore. Over four years, net profit rose from Rs 44.16 crore in FY22 to Rs 170.31 crore. In Q1 FY27, revenue grew 48.6% to Rs 397.00 crore, and net profit rose 8.0% to Rs 45.42 crore. Operating margin was 27.35% in FY26 and 24.46% in Q1 FY27 against 28.63% a year earlier.

Debt to equity is 0.15 and return on equity is 9.85%. FY26 operating cash flow was Rs 204.52 crore against capital expenditure of Rs 316.54 crore. At a P/E of 57.12 against an industry P/E of 62.71, the stock trades below its industry multiple.

What to watch: FY26 capex of Rs 316.54 Cr was above operating cash flow of Rs 204.52 Cr, and the Q1 FY27 operating margin of 24.46% was below the 28.63% of a year earlier.

Shalby: Joint Replacement and Implants Drive the Pipeline

Shalby's roadmap rests on joint replacement hospitals and orthopaedic implants, with new hospitals and overseas implant sales supporting revenue.

Revenue grew from Rs 711.37 crore in FY22 to Rs 1,168.22 crore in FY26, a 64.2% rise, and FY26 revenue was 4.8% higher than FY25. FY26 net profit rose from Rs 1.92 crore to Rs 34.68 crore. In Q1 FY27, revenue grew 11.6% to Rs 338.63 crore, and net profit rose 36.7% to Rs 10.50 crore. Operating margin was 14.37% in FY26 and 14.79% in Q1 FY27 against 16.38% a year earlier.

Debt to equity is 0.59 and return on equity is 3.72%. FY26 operating cash flow was negative at Rs 0.01 crore against capital expenditure of Rs 149.05 crore. At a P/E of 38.67 against an industry P/E of 62.71, the stock trades below its industry multiple.

What to watch: The Q1 FY27 operating margin of 14.79% was below the 16.38% of a year earlier, and FY26 revenue growth was only 4.8%. Operating cash flow was negative in FY26.

Krsnaa Diagnostics: Government Diagnostic Partnerships Build the Next Leg

Krsnaa's roadmap rests on diagnostic services through government partnerships, with new contracts and tests supporting volumes.

Revenue grew from Rs 470.36 crore in FY22 to Rs 816.16 crore in FY26, a 73.5% rise, and FY26 revenue was 9.9% higher than FY25. FY26 net profit rose 30.7% to Rs 101.43 crore. Over four years, net profit rose from Rs 68.39 crore in FY22 to Rs 101.43 crore. In Q1 FY27, revenue grew 23.3% to Rs 242.77 crore, and net profit fell 19.3% to Rs 16.55 crore. Operating margin was 32.62% in FY26 and 27.69% in Q1 FY27 against 28.68% a year earlier.

Debt to equity is 0.55 and return on equity is 10.35%. FY26 operating cash flow was Rs 143.10 crore against capital expenditure of Rs 219.26 crore. Krsnaa Diagnostics paid a dividend of Rs 2 per share for FY26, a yield of 0.37%. At a P/E of 18.23 against an industry P/E of 62.71, the stock trades below its industry multiple.

What to watch: FY26 capex of Rs 219.26 Cr was above operating cash flow of Rs 143.10 Cr, and FY26 revenue growth was only 9.9%. Q1 FY27 net profit was 19.3% lower than a year earlier.

Best Healthcare Services Stocks in India: Yatharth Hospital vs Shalby vs Krsnaa Diagnostics on Key Financials

Among the best healthcare services stocks in India, Krsnaa Diagnostics leads on FY26 operating margin and return on equity; Yatharth Hospital leads on Q1 FY27 revenue growth and five-year revenue growth. The table puts the numbers side by side.

Healthcare earnings follow occupancy and test volumes, so full-year numbers and quarterly trends together give a better view.

How to Evaluate Hospital and Diagnostics Stocks to Buy Before You Invest

A short checklist keeps the research consistent when you screen healthcare services stocks and shortlist hospital and diagnostics stocks to buy.

1. Compare each stock's P/E with its industry P/E, which is 62.71 for all three here.
2. Track operating margin across several quarters, because input costs can move faster than prices.
3. Check whether revenue growth is turning into profit growth, not only sales.
4. Read operating cash flow against capital expenditure to see how growth is funded.
5. Watch debt to equity and interest cover before sizing a position.
6. Spread exposure across companies and business lines instead of one demand cycle.

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Risks to Consider Before Investing in Healthcare Services Stocks

• Cash flow: Shalby's operating cash flow was about zero in FY26 against capex of Rs 149.05 Cr.
• Quarterly profit: Krsnaa's Q1 FY27 net profit was 19.3% lower than a year earlier.
• Low returns: Shalby's ROE is 3.72% and Yatharth's 9.85%.
• Expansion spending: Yatharth's FY26 capex of Rs 316.54 Cr was above its operating cash flow of Rs 204.52 Cr.

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Final Take: Which Stock Has the Strongest Roadmap?

These three hospital and diagnostics stocks cover multi-speciality hospitals, joint replacement and implants, and government diagnostic partnerships. Krsnaa Diagnostics leads on FY26 operating margin and return on equity; Yatharth Hospital leads on Q1 FY27 revenue growth and five-year revenue growth.

Across regional hospital and diagnostic chain stocks, each roadmap still has to turn growth into steady profit, so independent research and position sizing matter. Investors should consult a SEBI-registered advisor before acting on any of the hospital and diagnostics stocks to buy discussed here.

FAQs on Healthcare Services Stocks

Which are the best healthcare services stocks in India with a strong roadmap?

Ans. Yatharth Hospital & Trauma Care Services, Shalby and Krsnaa Diagnostics stand out for their roadmaps in hospitals, joint replacement and diagnostics. FY26 revenue growth was 37.5% at Yatharth Hospital, 4.8% at Shalby and 9.9% at Krsnaa Diagnostics, and return on equity ranges from 3.72% to 10.35%.

Is Yatharth Hospital & Trauma Care Services a good stock to buy now?

Ans. Yatharth Hospital & Trauma Care Services has a debt to equity ratio of 0.15, a return on equity of 9.85% and a P/E of 57.12 against an industry P/E of 62.71. Cash flow, quarterly profit and low returns move results. This article is not investment advice, so consult a SEBI-registered advisor before deciding.

What is the P/E ratio of Yatharth Hospital, Shalby and Krsnaa Diagnostics?

Ans. The P/E ratio is 57.12 for Yatharth Hospital (industry 62.71), 38.67 for Shalby (industry 62.71) and 18.23 for Krsnaa Diagnostics (industry 62.71). All three trade below the industry multiple.

Which of these healthcare services stocks has the highest return on equity?

Ans. Krsnaa Diagnostics has the highest return on equity at 10.35%, followed by Yatharth Hospital & Trauma Care Services at 9.85% and Shalby at 3.72%.

What are the risks of investing in healthcare services stocks?

Ans. The main risks are weak cash flow at one firm, a weaker quarter at another, low returns on equity and expansion spending. Krsnaa's Q1 FY27 net profit was 19.3% lower than a year earlier.

How did Yatharth Hospital, Shalby and Krsnaa Diagnostics perform in Q1 FY27?

Ans. Yatharth Hospital & Trauma Care Services reported revenue of Rs 397.00 crore, up 48.6% year on year, and net profit rose 8.0% to Rs 45.42 crore. Shalby reported revenue of Rs 338.63 crore, up 11.6% year on year, and net profit rose 36.7% to Rs 10.50 crore. Krsnaa Diagnostics reported revenue of Rs 242.77 crore, up 23.3% year on year, and net profit fell 19.3% to Rs 16.55 crore.

Do healthcare services stocks pay dividends?

Ans. Dividend payouts differ across the three companies. The dividend yield is 0.00% for Yatharth Hospital, 0.00% for Shalby and 0.37% for Krsnaa Diagnostics, based on dividends declared for FY26.

How can I invest in healthcare services stocks in India?

Ans. You can buy healthcare services stocks through a demat and trading account on NSE or BSE after checking each company's financials, margins and valuation. The Univest Screener lets you compare fundamentals before placing an order. Investments in securities are subject to market risk, so consider your risk profile first.