Global Health (MEDANTA) Q1 25/26 earnings summary

Executive summary

• Achieved record quarterly total income and EBITDA in Q1 FY2026, with 19% topline growth and 23% EBITDA growth year-over-year, driven by higher patient volumes and improved realization.

• PAT increased by 50% year-over-year, aided by a non-recurring exceptional income of INR 196 million from reversal of interest liability.

• Over 150 doctors, including 30 senior clinicians, were onboarded, strengthening clinical depth.

• Network expanded with a new 110-bed hospital in Ranchi and 20 new beds in Patna; Noida facility nearing launch.

• Board approved unaudited financial results, final dividend, and key director re-appointments.

Financial highlights

• Consolidated total income reached INR 10,513 million, up 19% year-on-year; EBITDA was INR 2,553 million, up 23%, with a margin of 24.3%.

• PAT stood at INR 1,590 million, up 50% 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 and consolidated EPS both showed year-over-year growth.

Outlook and guidance

• Near-term goal to add 1,000 beds, with Noida hospital to commence operations in Q2 FY26 (initially 300 beds, expanding to 550).

• Expansion pipeline includes 2,000–3,000 beds over 3–5 years, with projects in South Delhi, Mumbai, Pitampura, and Guwahati.

• Planned capex of ~INR 40,000 million over five years, funded by debt and internal accruals.

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

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