Financial Performance Highlights

H1 FY27 Financial Results:

  • Operating revenue: ₹478.0 Cr, up 13.0% YoY
  • Operating EBITDA: ₹97.2 Cr, up 19.0% YoY
  • EBITDA margins: 20.3%, expanded 103 basis points YoY
  • Profit Before Tax (PBT): grew 47.0% YoY
  • Profit After Tax (PAT): grew 59.5% YoY
  • Cash and cash equivalents: ₹268.3 Cr
  • Total premiums under management: ₹24,752 Cr across platform and TPA operations

Q2 FY27 Specific Performance:

  • EBITDA margins: 20.4% (+331 bps)

Operational Highlights

Core TPA Business:

  • Group revenue growth: 13.7% in H1 FY27
  • Market share: 34.1% in group health benefits (+182 bps YoY)
  • Client retention: 90.5%
  • Group premiums under management: ₹13,939 Cr, up 21.8% YoY (outpacing industry growth by 650 bps)
  • Retail hybrid model covers 34.1% of the market

Technology Business:

  • SaaS and licensing revenue: ₹18.1 Cr in H1 FY27, up 83.8% YoY
  • Q2 FY27 technology revenue growth: 112.6%
  • Platform premiums: ₹9,648 Cr in H1 FY27
  • Insurer adoption: 3 of 7 contracted insurers fully live on technology stack, remaining 4 scheduled for H2 FY27 go-live

Fraud Prevention:

  • MAven Guard prevented ₹304 Cr in fraud, waste and abuse (FWA)

International Operations (Mayfair We Care):

  • Q2 FY27 revenue: ₹10.7 Cr (+7.7%)
  • H1 FY27 revenue: ₹20.7 Cr (+1.1%)
  • Platform go-lives in Thailand, Laos, and Cambodia
  • Multi-insurer travel partnerships covering approximately 50% of Indian travel premiums

Capital Allocation

Share Buyback:

  • Board approved share buyback of up to ₹49.3 Cr
  • Funded entirely from internal operating cash flows
  • Uses less than one-fifth of accumulated cash reserves
  • Purpose: Enhance Return on Equity (RoE) while preserving liquidity for product development and international growth

Strategic Position

The company reported that Paramount is fully integrated, generating strong cash flows to fund growth. Medi Assist enters H2 FY27 with technology revenue scaling and expanding international footprint. The company maintains debt-free status with strong cash reserves supporting strategic investment and financial resilience.

Management Commentary

CEO & Whole Time Director Satish Gidugu stated: "Medi Assist is advancing access, accountability and affordability in healthcare. Insurer adoption of our technology, key government mandates and Mayfair's international expansion reinforce our growth momentum and commitment to reliable, transparent service. With Paramount fully integrated, our core platform generates strong cash flows to fund growth. The Board-approved buyback reflects disciplined capital allocation and confidence in long-term earnings, while preserving liquidity for investment."