Financial Performance Summary

Revenue: HCG delivered total revenue from operations of INR 6,951.0 million in Q1 FY27, representing 13.4% year-over-year growth from INR 6,131.6 million in Q1 FY26.

EBITDA: Reported EBITDA was INR 1,222.6 million (17.6% margin), up 13.4% YoY. Adjusted EBITDA (excluding specific one-time items) was INR 1,338.7 million (19.4% margin), representing 19.7% YoY growth and a 121 basis point margin improvement from 18.2% in Q1 FY26.

Profitability: Profit After Tax surged 190% YoY to INR 137.7 million (2.0% margin) from INR 47.5 million (0.8% margin) in Q1 FY26, representing a 121 basis point margin improvement.

Earnings Per Share: Reported EPS was INR 0.92 for Q1 FY27 compared to INR 0.34 in Q1 FY26.

Operational Performance Breakdown

Regional Performance:

  • South Cluster: Revenue of INR 2,765 million (40% of total) delivered ~16% YoY growth with volume growth of 7% YoY and ARPP of INR 84,001
  • West Cluster: Revenue of INR 3,010 million (43% of total) delivered ~9% YoY growth with volume growth of 10% YoY and ARPP of INR 94,702
  • East Cluster: Revenue of INR 799 million (11% of total) grew ~22% YoY with volume growth of 25% YoY and ARPP of INR 64,983
  • International Business: Revenue of INR 208 million grew ~9% YoY

Bed Capacity: Total operational beds increased to 2,855 in Q1 FY27 from 2,734 in Q4 FY26, with census beds at 2,440.

Volume Metrics: Consolidated in-patient volume reached 78,914 in Q1 FY27, up from 74,748 in Q4 FY26, with ARPP of INR 85,943.

Strategic Business Developments

Milann Divestiture: Completed strategic exit from fertility business (Milann) in June 2026. The divested business delivered revenue of INR 169 million and EBITDA of INR 23 million in Q1 FY27 before divestment.

North Bangalore Hospital: Successfully commenced operations in May 2026 with 56 operational beds (potential to expand to 120+ beds). Generated revenue of INR 67 million in the first quarter with 550+ new patient registrations and 300+ admissions. MR Linac was commissioned in July 2026.

Capacity Expansion: Added 121 operational beds across network comprising 56 beds at North Bangalore, 26 beds at Ranchi, 19 at Borivali, 8 at Nashik, 5 at Hubli, and 7 at Kenya.

Clinical Capabilities Enhancement: Operationalized new LINAC at Rajkot, transforming it into a Comprehensive Cancer Care Centre. Strengthened robotic surgery capabilities with new surgical robotic systems at Nashik and replacement at Bangalore CoE.

Growth Plans and Capital Expenditure

Bed Expansion Pipeline:

  • FY27: 188 bed addition with capex of ~INR 1,500 million
  • FY28-FY29: ~520 bed addition with capex of ~INR 3,000 million
  • FY30: ~230 bed addition with capex of ~INR 1,000 million

Specific Expansion Projects:

  • Brownfield expansion: Additional beds at Suchirayu (50), Jaipur (30), Nagpur (27), HCC Ahmedabad (23), Cuttack (75), Vizag (50)
  • Greenfield projects: Two projects in pipeline for FY28-FY29, one project in FY30

Adjusted EBITDA Reconciliation

Adjusted EBITDA excludes:

  • Q1 FY27: North Bangalore losses of INR 70.2 million and EPCG-related provision of INR 45.9 million
  • Q1 FY26: ESOP cost of INR 14.5 million and M&A-related costs of INR 25.6 million

Corporate Governance

Board of Directors: The presentation lists the complete board including Dr. BS Ajai Kumar (Founder and Non-Executive Chairman), Dr. Manish Mattoo (Executive Director and CEO), and seven non-executive directors representing KKR and independent backgrounds.

Shareholding: The presentation includes a shareholding pattern slide, though specific percentages are not detailed in the text provided.