GPT Healthcare Q1 PAT Surges 65.7% YoY

Financial Performance Q1 FY27

Revenue Metrics:

• Total Revenue: ₹128.2 crore, up 18.0% YoY from ₹108.7 crore in Q1 FY26
• Revenue from Operations: ₹126.2 crore
• Other Operating Income: ₹2.0 crore
• QoQ Revenue growth: 0.2% from ₹128.0 crore in Q4 FY26

Profitability Metrics:

• EBITDA: ₹26.2 crore, up 38.5% YoY
• EBITDA Margin: 20.4% vs 17.4% in Q1 FY26
• EBIT: ₹19.3 crore, up 51.6% YoY
• EBIT Margin: 15.1% vs 11.7% in Q1 FY26
• Profit Before Tax: ₹17.2 crore, up 54.4% YoY
• PBT Margin: 13.4% vs 10.2% in Q1 FY26
• Profit After Tax: ₹12.7 crore, up 65.7% YoY
• PAT Margin: 9.9% vs 7.1% in Q1 FY26
• EPS (Basic): ₹1.6

Cost Structure:

• Cost of Material Consumed: ₹24.1 crore
• Employee Benefits Expenses: ₹23.2 crore
• Other Expenses: ₹54.6 crore
• Depreciation: ₹6.9 crore
• Finance Cost: ₹2.2 crore
• Tax: ₹4.4 crore

Operational Highlights Q1 FY27

Key Operational Metrics:

• Average Revenue Per Occupied Bed (ARPOB): ₹42,350
• Network Occupancy: 45.5% (excluding Raipur: 58.07%)

Hospital-specific Performance:

• Salt Lake Hospital: 85-bed facility, completed 800+ cumulative robotic-assisted surgeries
• Dum Dum Hospital: 155-bed facility, completed 700+ renal transplants, highest-occupied hospital in network
• Agartala Hospital: 205-bed facility, completed 700+ radiation therapy procedures, launched PET Scan and Linear Accelerator
• Howrah Hospital: 116-bed facility, launched MAKO robotic knee replacement surgeries, achieved EBITDA breakeven within 8 months of inauguration
• Raipur Hospital: 158-bed quaternary care facility (commenced May 2025), renal transplant program commenced, oncology surgeries operational, on track for operational breakeven by Q3 FY27

Strategic Expansion Plans

Short-term Expansion:

• Jamshedpur Hospital: 155-bed facility with ₹75 crore investment, MoU signed, targeted commissioning by end-FY27
• Planned entry into Tier II cities (Uttar Pradesh, Assam, Odisha) and select Tier I locations in Eastern India
• Expansion model: Land and building funded by developers; operations run on fixed rental arrangements

Capacity Targets:

• Target to expand capacity to over 1,000 beds over next two years
• Current network: Approximately 719 beds across five hospitals

Technology and Service Initiatives

Clinical Technology:

• Robotic surgical technology installed in Salt Lake and Howrah hospitals
• 3 Tesla MRI and cardiac catheterization lab facilities
• MAKO orthopedic robot for joint replacement
• State-of-the-art operation theatres and well-equipped ICUs

Digital Initiatives:

• ILS-My Health app for appointment booking and medical records access
• Hospital Management Information System (HMIS) for electronic medical records
• SPARSH home healthcare service for senior citizens at ₹500 annual fee

Historical Financial Comparison

FY26 Full Year Performance:

• Total Revenue: ₹478.5 crore
• EBITDA: ₹90.1 crore (18.8% margin)
• EBIT: ₹63.0 crore (13.2% margin)
• Profit Before Tax: ₹54.8 crore (11.5% margin)
• Profit After Tax: ₹42.2 crore (8.8% margin)
• EPS (Basic): ₹5.15

FY24-FY26 Comparison:

• Total Revenue: FY24 ₹405.7 crore, FY25 ₹415.6 crore, FY26 ₹478.5 crore
• EBITDA Margin: FY24 23.0%, FY25 22.1%, FY26 18.84%
• PAT Margin: FY24 11.8%, FY25 12.0%, FY26 8.82%

Capital Structure and Financial Position

• Company maintains net-debt free position
• Capex per bed at ₹7-8 million, below industry norms
• Target long-term ROCE of approximately 25%

Leadership and Governance

• Led by Dr. Om Tantia
• Board of Directors: Professional and experienced team
• Company Secretary and Compliance Officer: Ankur Sharma (M. No A31833)
• Investor Relations Advisors: MUFG Intime India Private Limited

Market Context and Growth Drivers

• Eastern India emerging as hub for international patients from Bangladesh, Nepal, Bhutan
• Market expected to reach $13.42 billion by 2026
• Government healthcare outlay of ₹99,858 crore including Ayushman Bharat and NHM
• India's ~3 million bed shortfall creating expansion opportunities