Yatharth Hospital & Trauma Care Services (YATHARTH) Q1 25/26 earnings summary

Executive summary

• Q1 FY26 revenue rose 22% YoY to INR 2,578 million, with net profit up 38%-40% YoY, driven by strategic initiatives, operational excellence, and new hospital ramp-ups.

• Greater Faridabad facility turned net profit positive within a year, contributing 9% of total revenue.

• New hospitals in New Delhi and Faridabad (700 beds combined) inaugurated in July and August 2025, expected to drive further growth from Q2 FY26.

• Oncology and super specialty services significantly contributed to revenue and ARPOB growth.

• Board approved Q1 FY26 results and key appointments; IPO completed in FY24 and QIP in FY25 raised significant funds for expansion.

Financial highlights

• Q1 FY26 consolidated revenue: INR 2,577.71 million (+22% YoY, +11% QoQ); EBITDA: INR 645 million (+20% YoY, +13% QoQ), margin at 25%.

• Net profit: INR 420.41 million (+38% YoY), PAT margin at 16.5% (+214 bps YoY).

• Patient volume grew 27% YoY; ARPOB for Q1 FY26 at INR 32,395 (+6% YoY); ALOS at 4.10 days.

• Oncology revenue up 49% YoY, now 10% of group revenue.

• Net cash position above INR 200 crore; ROCE at 27% in FY25; net debt/EBITDA at -2.3.

Outlook and guidance

• Revenue and profitability growth momentum expected to continue, with guidance of ~30% annual revenue growth.

• New hospitals expected to reach breakeven in ~15 months; initial occupancy projected at 30%-35%.

• RPO/ARPOB growth guidance of 8%-10% for FY26 and FY27; EBITDA margin expected to remain around 24%-25%.

• Targeting ~3,000 beds by FY28, with focus on high-value specialties and occupancy optimization.