• The document is a transcript of the Q1 FY27 Earnings Conference Call with Analysts and Investors held on Friday, August 21, 2026.
  • The call was organized pursuant to Regulation 30 and 46 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and the transcript was submitted to the exchanges on August 27, 2026.
  • Management participants included:
  • Mr. Dilip Jose – Managing Director and Chief Executive Officer
  • Mr. Sameer Agarwal – Group Chief Financial Officer
  • Mr. Karthik Rajagopal – Chief Operating Officer
  • The moderator was Mr. Diwakar Pingle from EY.
  • The company indicated that the discussion contained forward-looking statements with known and unknown risks, and that results had been mailed to investors and were available on the company website.
  • Key financial highlights disclosed during the call:
  • Q1 FY27 revenue: INR3,091 crores (38% YoY growth)
  • Network EBITDA: INR749 crores (26% YoY growth; 30% excluding one-off gain from previous year)
  • Operating margin excluding Sahyadri: 25%
  • Network operating margin including Sahyadri: 24.2%
  • Inpatient volumes grew 39% YoY
  • Outpatient volumes grew 26% YoY
  • Average occupancy: 65% (290 bps increase YoY)
  • ALOS: 2.7 days
  • ARPOB (ex-Sahyadri): INR77,200 per day (9% growth YoY)
  • Digital revenue: INR710 crores (23% of total revenue)
  • Operational highlights:
  • CONGO-R specialties (Cardiac Sciences, Oncology, Neurology, Gastroenterology, Orthopaedics, Renal Sciences) contributed 65% of revenue with 45% IP revenue growth
  • Sahyadri Hospitals performance: Revenue INR332 crores (13% growth), EBITDA INR58 crores (19% growth), ARPOB INR45,000 (15% growth), occupancy 63%, ALOS 2.8 days
  • Commissioned brownfield capacity addition of 103 beds in Nashik
  • Launched 50th hospital in Electronic City, Bangalore (300 beds)
  • Announced acquisition of Kinder Hospital in Whitefield, Bangalore (100 beds)
  • The company stated that no unpublished price sensitive information (UPSI) would be shared during the call.

Additional Notes Section

  • The transcript was made available on the company's website at: https://www.manipalhospitals.com/mhel-financial-reports#investor-earnings-call
  • The document includes detailed Q&A session with analysts from HSBC, Bank of America Securities, IIFL Capital Services, JP Morgan, Goldman Sachs, Oman Investment Advisors, Kotak Institutional Equities, and Sanctum Wealth.
  • Financial data was extensively disclosed during the call including breakdowns by segment, geography, and acquisition performance.