Medi Assist Healthcare Services (MEDIASSIST) Q4 24/25 earnings summary

Executive summary

• Achieved strong growth across group, retail, government, and international segments, outpacing industry rates in most areas, with total premium under management (PUM) of INR 21,108 crore for FY25, up 14.3% year-over-year.

• Transitioned from a traditional TPA to a health benefits administrator, leveraging technology, data analytics, and AI to unbundle and monetize services.

• Maintained a 95% retention rate in group business and expanded exclusive network adoption to 19 insurers.

• Significant technology investments enabled 8.9 million claims processed in FY25 and INR 400 crore in fraud savings for insurers.

• Completed major acquisitions, including regulatory approval for Paramount TPA, and settled a key arbitration case.

Financial highlights

• FY25 total income: INR 747.1 crore, up 14.4% year-over-year; operating revenue: INR 723.3 crore (+14.0%); Q4 FY25 total income: INR 196.6 crore (+14.9%).

• EBITDA for FY25: INR 154.1 crore (21.3% margin), up 15.6%; Q4 EBITDA: INR 40.7 crore (21.6% margin).

• FY25 PAT: INR 91.6 crore, up 28.5% year-over-year (12.3% margin); basic EPS: ₹12.92.

• Net cash from operations: INR 138 crore; net cash balance: INR 312.2 crore; return on capital employed: 18.7%.

• Cash and cash equivalents at year-end increased to ₹830.14 million; total equity rose to ₹5,521.57 million.

Outlook and guidance

• Continued investment in technology (5–7% of revenue annually) to drive scale, innovation, and compliance.

• Focus on expanding SaaS and unbundled service offerings to insurers, leveraging operating leverage for margin stability.

• Ongoing acquisition and integration of Paramount TPA and international business platforms.

• Board approved a proposal to raise up to ₹3,500 million through equity and debt instruments, subject to regulatory approvals.

• Expectation to maintain or outpace industry growth rates in group and retail segments.