India's Richest People 2026 edition · 1 director · Source: Hurun India
- #57 Ranjan Pai ₹49,200 Cr
Revenue · FY 2025
₹74.32 Cr
▲ 8% YoY
Net loss · FY 2025
₹93.58 Cr
Net margin -125.9%
EBITDA · FY 2025
₹40.44 Cr
EBITDA margin 54.4%
Authorised capital
₹140 Cr
Registered with MCA
Paid-up capital
₹135.84 Cr
Issued & subscribed
Open charges
₹3,799.58 Cr
Satisfied ₹2,774.82 Cr
Company age
27 yrs
Est. 1999
Employees · EPFO
1
Provident fund records
About Manipal Health Systems Private Limited
Data last updated:
Manipal Health Systems Private Limited is a private limited company based in Bangalore, Karnataka, India, a subsidiary of Manipal Global Health Services. It operates in the hospital and clinical services segment of the healthcare sector. It was incorporated on 01 February 1999 and has been in existence for over 27 years.
Its director Ranjan Pai is #57 among India's richest people (2026).
The company is registered with the Registrar of Companies (ROC), Bangalore, under CIN U86100KA1999PTC024701. Its GSTIN is 29AACCM2872M1ZZ (Karnataka). The company holds 4 GST registrations, of which 1 is active.
The company has an authorised share capital of ₹140 Cr and a paid-up capital of ₹135.84 Cr. It is led by directors including Ranjan Ramdas Pai and Vidyadheesh Pandurangi Huchachar.
Its last annual general meeting (AGM) was held on 30 September 2025, and its latest financial statements are for the year ended 31 March 2025. The registered office is at #24/1 15th Floor J W Marroitt Vittalmallya Road Ashok Nagar, Bangalore, Karnataka, India – 560001.
As per the financials filed for FY 2025, the company reported a revenue of ₹74.32 Cr, a growth of 8% compared to the previous year. For the same year it recorded a net loss of ₹93.58 Cr (net margin -125.9%) and EBITDA of ₹40.44 Cr (EBITDA margin 54.4%). Revenue has declined at a compounded annual rate (CAGR) of 127% over three years and 8% over five years.
The company has about 1 employee on its provident fund (EPFO) records.
As per MCA filings, the company has open charges of ₹3,799.58 Cr and satisfied charges of ₹2,774.82 Cr on record. Court records list 31 cases involving the company, including 12 filed by the company and 19 filed against it; 2 cases are pending. The company has 10 deals on record (5 secondary share transfers, 3 funding rounds, 1 rights issue), with disclosed funding of ₹529.5 Cr; the latest was in December 2025. Its 6 peer companies in the Healthcare industry (Multi Specialty Hospitals), with the same principal business activity (hospital activities) are compared by revenue, 4 larger and 2 smaller; the largest is Nagpur Institute of Surgical Sciences & Research Centre Private Limited with revenue of ₹75.99 Cr.
The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website manipalgroup.com.
Company details
CIN U86100KA1999PTC024701
Registration Number 024701
Incorporation Date 01 February 1999
ROC Bangalore
Listing Status Unlisted
Company Status Active
Date of Last AGM 30 September 2025
Date of Balance Sheet 31 March 2025
Parent Company Manipal Global Health Services
Compliance Status Active Compliant
CIN history
Manipal Health Systems has one previous CIN (Corporate Identification Number): U85110KA1999PTC024701. The current CIN is U86100KA1999PTC024701, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| U86100KA1999PTC024701 | Current |
| U85110KA1999PTC024701 | Previous |
Key People
Ranjan Ramdas Pai Director Vidyadheesh Pandurangi Huchachar Director Vaitheeswaran Seetharaman Director Recognitions & Rankings of Manipal Health Systems
Contact details
Manipal Health Systems Private Limited's registered office is in Bangalore, Karnataka.
- Registered Address#24/1 15th Floor J W Marroitt Vittalmallya Road Ashok Nagar, Bangalore, Karnataka, India – 560001
- IndustryHealthcare, Hospitals
Comprehensive company report
Manipal Health Systems Private Limited - one report that includes everything
- Company details, directors and signatories
- Historical financials and ratios
- Shareholding pattern and group structure
- Charges with holder and property details
- Legal cases, compliance and MCA filings
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Business activity
The main business activity of Manipal Health Systems is hospital and medical care. In detail, this covers hospital activities.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| Q | Hospital and Medical Care | Q1 | Hospital activities |
To see the full business activity and turnover split of Manipal Health Systems Private Limited, buy the company report.
Financials of Manipal Health Systems Private Limited
FY 2025 filings availableManipal Health Systems Private Limited reported revenue of ₹74.32 Cr (up 8% YoY) for FY 2025.
Revenue · FY 2025
₹74.32 Cr ▲ 8%
Net loss · FY 2025
₹93.58 Cr margin -125.9%
EBITDA · FY 2025
₹40.44 Cr margin 54.4%
Compounded Annual Growth Rate (CAGR)
Revenue CAGR growth
1 year
▲ 8%
3 years · compounded
▲ 127%
5 years · compounded
▼ 8%
EBITDA CAGR growth
1 year
▲ 104%
3 years · compounded
▲ 94%
5 years · compounded
▼ 17%
Revenue rose 8% in the latest year, though over five years it has declined at a compounded annual rate (CAGR) of 8%. EBITDA rose 104% in the latest year. Three- and five-year figures are compounded annual growth rates (CAGR): the steady yearly rate that links the first and the last year. All are worked out from the filed statements.
Financial Statement Summary
| Metrics | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
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| Total Expenses | |||||
| EBITDA | ₹40.44 Cr | ||||
| Profit Before Tax | |||||
| Tax Expense | |||||
| Net Profit (PAT) | -₹93.58 Cr | ||||
| Balance Sheet | |||||
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Financial Ratios
| Metrics | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | 54.4% | ||||
| Net Profit Margin | -125.9% | ||||
| Return on Equity (ROE) | |||||
| Return on Capital Employed (ROCE) | |||||
| Return on Assets (ROA) | |||||
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To see the full financial statements and ratios of Manipal Health Systems Private Limited, buy the company report.
Board of directors of Manipal Health Systems Private Limited
Manipal Health Systems has 6 current directors and 15 former directors. Current directors are listed first, with their designation and appointment date.
Current Directors
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Ranjan Ramdas Pai Also directs: Manipal Education and Medical Group India Private Limited, Aarin Asset Advisors LLP, Memg Family Office LLP and 5 more | Director | 12 Dec 2023 | 2 Years 10 Months | Current |
| Vidyadheesh Pandurangi Huchachar Also directs: HBM Consultancy Private Limited | Director | 18 Sep 2025 | 1 Years 1 Months | Current |
| Vaitheeswaran Seetharaman | Director | 29 Apr 2022 | 4 Years 6 Months | Current |
| Rajesh Krishnaswamy Moorti | Director | 12 Dec 2023 | 2 Years 10 Months | Current |
| Kallabandi Sreekanth | Director | 18 Sep 2025 | 1 Years 1 Months | Current |
| Nisith Kumar Mohanty | Director | 29 Apr 2022 | 4 Years 6 Months | Current |
Peer comparison
Manipal Health Systems Private Limited is compared with the 6 companies closest to it by revenue in the Healthcare industry (Multi Specialty Hospitals), with the same principal business activity (hospital activities), from the latest filed financials of each company.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| Nagpur Institute of Surgical Sciences & Research Centre Private Limited | ₹75.99 Cr (FY 2025) | 2.0% | Nagpur, Maharashtra, India | |||
| PVS Memorial Hospital Private Limited | ₹75.37 Cr (FY 2017) | 13.0% | Ernakulam, Kerala, India | |||
| Sri Sainatha Multispeciality Hospitals Private Limited | ₹74.74 Cr (FY 2025) | 25.0% | Hyderabad, Telangana, India | |||
| GVN Hospital Private Limited | ₹74.59 Cr (FY 2025) | 23.0% | Tiruchirappalli, Tamil Nadu, India | |||
| Manipal Health Systems Private Limitedthis company | ₹74.32 Cr (FY 2025) | -₹93.58 Cr | -125.9% | 8.0% | Bangalore, Karnataka, India | |
| Ahalia Healthcare Limited | ₹74.18 Cr (FY 2025) | 45.0% | Palakkad, Kerala, India | |||
| Sri Ragavendhra Neuro Care Private Limited | ₹73.99 Cr (FY 2025) | 12.0% | Salem, Tamil Nadu, India |
To see the full peer comparison of Manipal Health Systems Private Limited, buy the company report.
Charges & borrowings
Open charges
₹3,799.58 Cr
Satisfied charges
₹2,774.82 Cr
Breakdown by lending institutions
Latest charge details
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 27 Feb 2024 | 100905244 | Others | ₹250 Cr | Open | |
| 19 Apr 2023 | 100716407 | Axis Bank Limited | ₹11.16 Cr | Open | |
| 06 Dec 2021 | 100525679 | Tata Capital Financial Services Limited | ₹60 Cr | Open | |
| 08 Mar 2019 | 100253835 | Others | ₹1,750 Cr | Open | |
| 09 Jan 2017 | 100075570 | Others | ₹460 Cr | Open |
To see the full charge records of Manipal Health Systems Private Limited, buy the company report.
Total charge records: 31 View all charges
Deals & funding
Manipal Health Systems Private Limited has 10 deals on record (5 secondary share transfers, 3 funding rounds, 1 rights issue), with disclosed funding of ₹529.5 Cr; the latest was in December 2025.
Total deals
10
Secondary share transfers
5
Funding rounds
3
Rights issue
1
Acquisition
1
Disclosed funding
₹529.5 Cr
Deals on record (5 of 10)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Dec 2025 | Acquisition | ₹1,158 Cr | Buyer: Claypond Capital |
| Mar 2024 | Funding round | ₹349 Cr | Investors: Manipal Education And Medical Group India Private Limited |
| Jun 2022 | Secondary share transfer | Undisclosed | Buyer: MEMG Family Office Seller: an individual |
| Feb 2016 | Rights issue | ₹93.1 Cr | Investors: Manipal Global Health Services, an individual |
| Jun 2010 | Secondary share transfer | Undisclosed | Buyer: Memg International Limited Seller: Idfc Trustee Company Limited |
To see the full deal history of Manipal Health Systems Private Limited, buy the company report.
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Legal cases
Manipal Health Systems Private Limited has 31 court cases on record: 12 filed by Manipal Health Systems, 19 filed against it. 2 cases are pending and 29 are disposed.
Total cases
31
Filed by the company
12
Filed against the company
19
Pending
2
Disposed
29
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| High courts | 18 | 12 | 0 |
| NCLAT | 6 | 4 | 2 |
| District courts | 3 | 2 | 0 |
| Supreme Court | 3 | 1 | 0 |
| NCLT | 1 | 0 | 0 |
Cases on record (5 of 31)
| Court | Type of case | Party | Status |
|---|---|---|---|
| NCLAT, NCLAT Chennai | Interim or miscellaneous application | Filed against the company by Think & Learn Private Limited (in Corporate Insolvency Resolution Process) Through Its Resolution Professional Mr. Shailendra Ajmera | Pending |
| NCLAT, NCLAT Chennai | Company appeal | Filed against the company by Think & Learn Private Limited (in Corporate Insolvency Resolution Process) Through Its Resolution Professional Mr. Shailendra Ajmera | Pending |
| NCLAT, NCLAT Chennai | Company appeal | Filed against the company by Think & Learn Private Limited | Disposed |
| High Court of Karnataka | Writ petition | Filed by the company against Think and Learn Private Limited and 9 others | Disposed |
| NCLAT, Company Appeal(AT) | Company appeal | Filed against the company by Aakash Educational Services Limited | Disposed |
To see the full case history of Manipal Health Systems Private Limited, buy the company report.
Case records are compiled from court listings and may lag the court's own records. A case filed against a company is not a finding against it.
Credit ratings & regulatory alerts
Manipal Health Systems Private Limited was last rated by Care on 03 Mar 2022.
| Rating agency | Rated on | Rating |
|---|---|---|
| Care | 03 Mar 2022 |
To see the full credit ratings and regulatory alerts of Manipal Health Systems Private Limited, buy the company report.
MSME payment delays
No delayed payments to MSME suppliers are on our record for Manipal Health Systems Private Limited; the supplier-wise MSME Form 1 check is in the company report Buy the company report.
GST
Manipal Health Systems has 4 GST registrations: 1 active and 3 cancelled or inactive.
Total GSTINs
4
Active
1
Cancelled / inactive
3
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 29AACCM2872M1ZZ | Karnataka | Active | 01 Jul 2017 |
To see the full GST registrations and return filing status of Manipal Health Systems Private Limited, buy the company report.
Recent activity
Manipal Health Systems Private Limited has 21 board changes on record since 2007: 6 appointments and 15 cessations. The latest: Kallabandi Sreekanth ceased to be Additional Director on 29 Sep 2025.
AGM
Manipal Health Systems Private Limited last Annual general meeting of members was held on 30 Sep 2025 as per latest MCA records.
Ceased
Kallabandi Sreekanth ceased to be Additional Director.
Ceased
Vidyadheesh Pandurangi Huchachar ceased to be Additional Director.
Appointed
Kallabandi Sreekanth was appointed as Director.
Appointed
Vidyadheesh Pandurangi Huchachar was appointed as Director.
Charges
A charge registered on 09 Jan 2017 via Charge ID 100075572 with Others was fully satisfied on 12 Jun 2025.
Filing
Manipal Health Systems Private Limited has filed its annual Financial statements for the year ended 31 Mar 2025 with Roc Bangalore.
Charges
A charge with Others amounted to Rs. 250.00 Cr with Charge ID 100905244 was registered on 27 Feb 2024.
Appointed
Rajesh Krishnaswamy Moorti was appointed as Director.
Appointed
Ranjan Ramdas Pai was appointed as Director.
Charges
A charge with Others of Rs. 1,750.00 Cr registered on 08 Mar 2019 with Charge ID 100253835 was modified on 30 Oct 2023.
Charges
A charge with Axis Bank Limited amounted to Rs. 11.16 Cr with Charge ID 100716407 was registered on 19 Apr 2023.
78 earlier events are in the company report.
News
Frequently asked questions
Manipal Health Systems is an active private limited company based in Bangalore, Karnataka, India. The company works in hospitals, within the healthcare industry. It was incorporated on 01 February 1999 (27+ years old) and is registered under CIN U86100KA1999PTC024701.
Manipal Health Systems has 6 current directors:
- Ranjan Ramdas Pai - Director
- Vidyadheesh Pandurangi Huchachar - Director
- Vaitheeswaran Seetharaman - Director
- Rajesh Krishnaswamy Moorti - Director
- Kallabandi Sreekanth - Director
- Nisith Kumar Mohanty - Director
The latest financial statements of Manipal Health Systems on record with the MCA are for the year ended 31 March 2025. Its last annual general meeting was held on 30 September 2025. Year-wise statements from 2015 are in the company report.
The GSTIN of Manipal Health Systems is 29AACCM2872M1ZZ, registered in Karnataka. The company has 4 GST registrations in all, of which 1 is active and 3 are cancelled or inactive.
The CIN (Corporate Identification Number) of Manipal Health Systems is U86100KA1999PTC024701. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Manipal Health Systems has 31 court cases on record: 12 filed by the company and 19 filed against it. 2 are pending. Most are in the high courts.
Manipal Health Systems was incorporated on 01 February 1999, making it 27+ years old. It is registered with the Registrar of Companies, Bangalore.
Manipal Health Systems has 10 deals on record (5 secondary share transfers, 3 funding rounds, 1 rights issue), with disclosed funding of ₹529.5 Cr; the latest was in December 2025.
The peers of Manipal Health Systems by revenue are Nagpur Institute of Surgical Sciences & Research Centre Private Limited, PVS Memorial Hospital Private Limited, Sri Sainatha Multispeciality Hospitals Private Limited, GVN Hospital Private Limited, Ahalia Healthcare Limited and 1 more, all in the Healthcare industry (Multi Specialty Hospitals), with the same principal business activity (hospital activities).
Kallabandi Sreekanth ceased to be Additional Director on 29 Sep 2025. Vidyadheesh Pandurangi Huchachar ceased to be Additional Director on 29 Sep 2025. Kallabandi Sreekanth was appointed as Director on 18 Sep 2025. Manipal Health Systems has 21 board changes on record in total.
Manipal Health Systems can be reached through the website manipalgroup.com. Its registered office is in Bangalore, Karnataka, India.
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