Paras Healthcare (PARASHLTH) Q4 25/26 earnings summary

Executive summary

• FY26 consolidated revenue rose 24.1% to INR 16,059.52 million; operating EBITDA increased 129.42% to INR 3,127.45 million, with PAT recovering to INR 438.34 million from a loss.

• Network occupancy reached 61.75% versus 50.78% YoY, across 2,211 beds and eight hospitals; patient volumes rose to 115K inpatients and 779K outpatients.

• Growth priorities center on ramping newer hospitals, deepening complex-care services and expanding capacity in Gurugram and Ludhiana.

Financial highlights

• Consolidated total income was INR 16,287.84 million, up 23.94% YoY; revenue from operations grew 24.10% to INR 16,059.52 million.

• Operating EBITDA reached INR 3,127.45 million, up 129.42% YoY; operating EBITDA margin expanded to 19.5% from 10.5%.

• Consolidated PAT was INR 438.34 million versus a loss of INR 579.83 million; EPS was INR 4.34 versus a loss per share of INR 5.94.

• Purchases of stock-in-trade rose 29.35% and finance costs rose 27.56% YoY, while employee benefits expense increased 4.46%.

Outlook and guidance

• Targeting network capacity of 3,011 beds by 31 March 2028, from 2,211; the 300-bed second Gurugram facility is targeted for FY27 and 500-bed Ludhiana hospital for FY28.

• Srinagar is planned to become a comprehensive cancer-care centre by end-FY27, including radiation therapy and PET imaging capabilities.

• Priorities include occupancy ramp-up at newer hospitals, expansion of oncology, neurosciences and transplant programmes, and digital and clinical investment.