Jupiter Life Line Hospitals (JLHL) Q2 25/26 earnings summary

Executive summary

• Celebrated two years since listing, with business performance aligning with pre-IPO plans.

• All existing hospitals performed as expected, with Pune nearing maturity and Indore showing improved growth post-expansion.

• Dombivli Hospital nearing completion, set to begin operations in Q1 of next financial year; South Pune Hospital construction started, Mira Road Hospital in planning.

• Unaudited standalone and consolidated financial results for the quarter and half year ended September 30, 2025, were approved by the Board and reviewed by joint statutory auditors, who issued unmodified reports.

• Focus remains on expanding presence in Western India, operational strengths, and enhancing patient experience.

Financial highlights

• Q2 FY26 operating income: INR 374.4 crores, up 11.7% year-on-year; Q2 EBITDA: INR 85.4 crores, up 9.3% year-on-year, margin at 22.8%; Q2 PAT: INR 57.4 crores, up 11% year-on-year, margin at 15.3%.

• H1 FY26 operating income: INR 727.4 crores, up 14.9% year-on-year; H1 EBITDA: INR 163.8 crores, up 13.7% year-on-year, margin at 22.5%; H1 PAT: INR 101.4 crores, up 5.3% year-on-year, margin at 13.9%.

• Q2FY26 revenue from operations was ₹376.8 Cr, up 11.7% year-on-year; EBITDA margin at 23.4%.

• Consolidated revenue from operations for Q2 FY26 was ₹3,936.29 million, up from ₹3,350.49 million in Q2 FY25; half-year revenue was ₹7,465.82 million, up from ₹6,329.34 million year-over-year.

• Professional fees in Q2FY26 include an additional provision of ₹12.3 Cr for unsettled receivables.

Outlook and guidance

• Dombivli Hospital expected to be EBITDA negative in first year, break-even in second year; South Pune (500 beds) in CY28; Mira Bhayandar (400 beds) in CY29.

• New hospitals may temporarily dilute consolidated margins, with recovery as they mature.

• Total bed capacity projected to increase from 1,061 to approximately 2,500 with upcoming projects.

• Long-term demand expected to be strong in new regions due to lack of supply and dense population.

• The company continues to focus on healthcare services as its core business, with no significant changes in segment reporting or business model.