Metropolis Healthcare (METROPOLIS) Q1 26/27 earnings summary

Executive summary

• Q1 FY27 delivered 17% year-on-year revenue growth to INR 450 crore, with EBITDA up 27% and PAT up 26%, exceeding guidance and driven by strong demand, volume-led expansion, and network growth.

• Patient and test volumes grew 10% and 11% year-on-year, respectively, with B2C patient volume up 13.5% and B2B up 6%.

• Growth was supported by network expansion, productivity improvements, specialty diagnostics, TruHealth, and integration of recent acquisitions.

• Unaudited standalone and consolidated financial results for Q1 FY27 were approved and reviewed without qualification by statutory auditors.

• The company operates primarily in pathology services, with recent acquisitions expanding its footprint.

Financial highlights

• Consolidated revenue from operations for Q1 FY27 was INR 450.2 crore, up 16.6% year-on-year; EBITDA at INR 113.2 crore, up 27.1%; PAT at INR 56.9 crore, up 25.8%.

• EBITDA margin improved by 210 bps to 25.2%; PAT margin rose 90 bps to 12.6%.

• B2C revenue grew 18% to INR 257 crore; B2B revenue up 15% to INR 193 crore.

• Specialty diagnostics contributed 40% of revenue (up 17%), TruHealth 18% (up 22%).

• Earnings per share (consolidated, basic and diluted) for Q1 FY27 were Rs. 2.73, up from Rs. 2.17 in Q1 FY26.

Outlook and guidance

• Revenue growth guidance for FY27 maintained at 14%-16%, primarily volume-driven.

• EBITDA margin expected to improve by 100-150 basis points in FY27, targeting 27%-28% over the next two years.

• Medium-term CAGR guidance of 14%-15%, with 9%-10% from patient volume growth and the rest from product mix.

• No immediate price hikes planned; future increases will depend on inflation and market conditions.

• The sale and transfer of the External Quality Assessment Services Business to a wholly owned subsidiary is expected to be completed within two additional months.