Krishna Institute of Medical Sciences (KIMS) Q2 25/26 earnings summary

Executive summary

• Q2 FY26 revenue reached INR 9,649 million, up 23.3% year-on-year and 9.8% quarter-on-quarter.

• EBITDA for Q2 was INR 2,082 million, down 6.7% year-on-year but up 4.3% sequentially; margin at 21.6%.

• PAT for Q2 FY26 declined to INR 720 million, a 40.3% year-on-year drop.

• EPS for Q2 FY26 was INR 1.67, a 37.7% year-on-year decline.

• Board approved unaudited financial results and the merger of two wholly-owned subsidiaries.

Financial highlights

• Consolidated revenue from operations for Q2 FY26 was INR 9,607 million, up 23.6% year-on-year.

• EBITDA margin dropped to 21.6% from 28.5% in Q2 FY25.

• Consolidated net profit for Q2 FY26 was INR 720 million, compared to INR 1,207 million in Q2 FY25.

• Average revenue per operating bed grew 9.8% year-on-year to INR 42,016.

• IP volume grew 15.3% year-on-year and 12.2% quarter-on-quarter; OP volume up 25.1% year-on-year and 18% sequentially.

Outlook and guidance

• New hospitals are expected to break even within 12 months of commissioning, with some facilities targeting break-even in two months.

• Margin expansion anticipated from Q1 next year as new hospitals turn EBITDA positive.

• Expansion plans include adding over 2,100 beds through greenfield projects and O&M opportunities.

• ARPOB projected to rise from INR 42,000-43,000 to INR 50,000 over the next eight quarters as new markets scale up.

• Andhra Pradesh cluster expected to sustain 25%-28% EBITDA margin.