Financial Performance (Consolidated) - Q2 FY27

  • Revenue from operations: ₹53.04 lakhs, up 18.1% YoY and 11.6% QoQ
  • Material costs: ₹10.94 lakhs, up 3.3% YoY
  • Employee benefit expenses: ₹7.75 lakhs, up 26.6% YoY
  • Other expenses: ₹22.46 lakhs, up 16.3% YoY
  • EBITDA: ₹11.89 lakhs, up 34.0% YoY
  • EBITDA Margin: 22.4% (highest ever)
  • Depreciation and Amortization: ₹3.06 lakhs, up 5.1% YoY
  • Other Income: ₹0.68 lakhs, down 10.2% YoY
  • EBIT: ₹9.51 lakhs, up 41.6% YoY
  • EBIT Margin: 17.9%
  • Finance costs: ₹1.27 lakhs, up 19.3% YoY
  • EBT: ₹8.24 lakhs, up 45.8% YoY
  • Taxes: ₹2.15 lakhs, up 47.6% YoY
  • PAT: ₹6.09 lakhs, up 45.2% YoY
  • PAT Margin: 11.5%

Operational Performance - Q2 FY27

  • Surgeries: 2,295, up 25% YoY
  • IPD Revenues: ₹44.00 lakhs, up 17% YoY and 12% QoQ
  • OPD Revenues: ₹8.87 lakhs, up 39% YoY and 18% QoQ
  • Patient volume: 11% QoQ growth

Unit-wise Performance

Super Specialty Hospital, Dhanbad:

  • Beds: 285 (expanded from 265)
  • ARPOB: ₹23,716, up 17% YoY and 1% QoQ
  • Occupancy: 64% (recovered from 59% in Q1 FY27)
  • ALOS: 4.6 days

Cancer Hospital, Dhanbad:

  • Beds: 65 (stable)
  • ARPOB: ₹50,572, recovered 59% QoQ (in line with Q2 FY26)
  • Occupancy: 40% (vs 56% in Q1 FY27)
  • ALOS: 4.5 days

Revenue Mix by Specialty

Top specialties showing YoY growth:

  • Paediatrics & Neonatology: 78% YoY growth
  • Neurosciences: 42% YoY growth
  • Obstetrics & Gynaecology: 41% YoY growth
  • Orthopaedics: 37% YoY growth
  • Cardiology: 14% YoY growth (largest specialty at 23% of mix)

Revenue contribution by top 3 specialties was 50% vs 53% in Q2 FY26.

Quarterly Business Updates

Key business drivers for Q2 FY27 included:

  • Insurance tie-ups with PPN, Magma, ManipalCigna, Galaxy Health, IFFCO Tokio, Niva Bupa and MD India
  • Connection with 1,500 doctors across Jharkhand and West Bengal for referrals
  • Round-table meetings and CMEs held in district towns
  • Aggressive digital promotion of hospital facilities
  • Call centre driving business generation (not just patient service)
  • Promotional coverage expanded from 7 to 10 districts
  • RSKBY business generated through health camps and awareness programmes
  • Outreach clinics started at multiple locations
  • Hoarding campaigns across towns and wall paintings in rural areas
  • Area-wise and agency-wise promotion with monitoring

Company Overview

  • Total beds: 350 across 2 units (Super-Specialty and Cancer Care)
  • Doctors: 107 (86 full-time)
  • Nursing & support staff: 1,580+
  • Years of experience: 20+
  • Established in 2005
  • First and only super-specialty hospital in Dhanbad region with 23+ specialized facilities
  • Asarfi Cancer Institute (established 2024) is first dedicated comprehensive cancer care hospital in region and 1 of only 3 cancer hospitals in Jharkhand
  • Empanelled with Govt of Jharkhand (MGBUY), East Central Railway, Coal India Ltd, and leading TPAs

Technology Infrastructure

  • Varian TrueBeam: Jharkhand's 1st and most advanced radiation machine
  • GE Dual-Detector SPECT Gamma Camera: Nuclear imaging technology
  • Philips Azurion 5 M12: Upgraded Cath Lab with IVUS capability

Shareholder Information (as of September 2026)

  • Shares Outstanding: 1,96,77,300
  • Free Float: 38.83%
  • Market Cap: ₹342 crore (as of 3rd November, 2026)
  • EPS (TTM): ₹10.01
  • Net D/E: 0.45
  • ROCE (TTM): 19%
  • P/E (TTM): 17.38x
  • P/BV: 3.17x
  • PEG Ratio: 1.09x
  • EV/Revenue (TTM): 2.04x
  • EV/EBITDA (TTM): 10.0x

Leadership Team

  • Harendra Singh: Promoter & CFO
  • Udai Pratap Singh: Promoter & Managing Director
  • Sukanti Kumar Das: Non-Executive Director
  • Madhuri Singh: Executive Director
  • Gopal Singh: Executive Director

The Investor Presentation is available on the Company's website at www.asarfi.in.