Global Health (MEDANTA) Q1 25/26 earnings summary

Executive summary

• Achieved record quarterly total income and EBITDA in Q1 FY2026, with 19% year-on-year topline growth driven by increased patient volumes and higher realization.

• PAT grew 49.6% year-on-year, aided by a non-recurring exceptional income of INR 196 million from reversal of interest liability.

• Onboarded over 150 doctors, including 30 senior clinicians, and expanded network with a new 110-bed hospital in Ranchi; Noida 550-bed facility to commence with 300 beds in Q2 FY26.

• Board approved unaudited financial results for Q1 FY26, proposed a final dividend of Rs. 0.50 per share, and re-appointed key directors.

• Merger of MHPL with GHL completed, with Lucknow unit now included in standalone results.

Financial highlights

• Consolidated total income reached INR 10,513 million, up 19.1% year-on-year; EBITDA rose to INR 2,553 million, a 22.6% increase, with margins at 24.3%.

• PAT was INR 1,590 million, up 49.6% year-on-year, with margins at 15.1%.

• Inpatient volumes grew 14% and outpatient volumes 13% year-on-year; average occupied bed days up 13% with 63% occupancy.

• Revenue from international patients increased 34% year-on-year to INR 636 million.

• Standalone revenue from operations for Q1 FY26: ₹8,821.56 million; consolidated profit after tax: ₹1,589.82 million.

Outlook and guidance

• Near-term goal to add 1,000 beds, with a pipeline of 2,000–3,000 beds over 3–5 years and total capex of ~INR 40,000 million.

• Expansion projects underway in Noida, South Delhi, Mumbai, Pitampura, and Guwahati.

• Conservative approach to tariff hikes, with selective increases possible in Gurugram, Lucknow, and Patna.

• Employee long-term share-based incentive plan implemented.