- Event Type: Q2 and H1 FY27 Earnings Conference Call hosted by JM Financial Limited.
- Date and Time: The conference call was held on Friday, November 06, 2026. The specific time was not mentioned in the transcript.
- Purpose: To discuss the Unaudited Standalone and Consolidated Financial Results of the Company for the quarter and half year ended September 30, 2026.
- Earnings Timing: The meeting was held after the earnings announcement, as it discusses the already declared Q2 and H1 FY27 results.
- Management Participants: Dr. Dharminder Kumar Nagar (Managing Director), Mr. Dilip Bidani (Group Chief Financial Officer), and Mr. Vineet Aggarwal (Group Chief Operating Officer).
- Availability of Materials: The transcript of the call was submitted to the stock exchanges and made available on the company's website at https://www.parashospitals.com/investors. A detailed presentation was also uploaded on the stock exchange and the company's website.
- UPSI Statement: The moderator's opening remarks included a standard forward-looking statement disclaimer, noting that the call may contain forward-looking statements based on beliefs and opinions that do not guarantee future performance.
Financial Period Discussed: The call focused on the financial and operational performance for Q2 FY27 (quarter ended September 30, 2026) and H1 FY27 (half year ended September 30, 2026).
Key Financial Highlights from Management Commentary:
- Q2 FY27 Performance: Revenue from operations was INR 511 crores (up 23% YoY). Operating EBITDA was INR 120 crores (up 47% YoY), with a margin of 23.5% (expansion of 390 bps). Profit Before Tax (PBT) was INR 54 crores (2.7x YoY). Profit After Tax (PAT) was INR 40.3 crores (3.3x YoY).
- H1 FY27 Performance: Revenue was INR 981 crores (up 25% YoY). Operating EBITDA was INR 225 crores (up 58% YoY), with a margin of 23%. PAT was INR 90 crores, compared to INR 44 crores for the full FY26.
- Cluster-wise Performance (H1 FY27):
- Mature Hospitals (Gurgaon, Patna, Panchkula, Darbhanga): Revenue grew 9.1%; EBITDA margin at 28.9% (up 330 bps); occupancy at 76.5%.
- Emerging Hospitals (Ranchi, Udaipur): Revenue grew 43.2%; EBITDA margin at 18.3% (up 586 bps); occupancy at 68.6% (up 1,950 bps).
- New Hospitals (Srinagar, Kanpur): Revenue grew 147%; EBITDA turned positive at INR 25+ crores (from a loss of INR 13 cr in H1 FY26); margin at 18.7%; occupancy at 68.4% (up 4,060 bps).
- Operational KPIs (H1 FY27): Average Revenue Per Occupied Bed (ARPOB) stood at INR 48,900; Average Length of Stay (ALOS) was 2.8 days; group occupancy was 73% (up 1,400 bps YoY); inpatient volumes grew 27.3% YoY; outpatient volumes grew 20.4% YoY.
- Balance Sheet & Cash Flow: Gross borrowings as of September 2026 were INR 979 crores, with cash of INR 360 crores (net debt of INR 620 crores). Post-IPO, INR 375 crores of term debt was repaid, leading to a pro forma net debt of ~INR 143 crores. H1 operating cash flow was INR 68 crores, despite negative working capital movement of INR 172 crores due to increased receivables (DSOs at 92 days). H1 capex was INR 90 crores.
- Growth Levers & Outlook: Management identified four key growth levers: 1) Ramp-up of newer hospitals (Srinagar, Kanpur), 2) Improved clinical and surgical mix, 3) Growth in outpatient/inpatient volumes, and 4) Disciplined new capacity addition (Gurgaon 2 and Ludhiana). No specific quantitative revenue or profit guidance was provided for future periods.
Additional Notes Section
- The document is the official transcript of the earnings conference call, submitted as a regulatory disclosure under SEBI LODR Regulations.
- The transcript contained the full Q&A session with analysts, covering topics such as the soft performance in Udaipur (due to a temporary suspension of a state government scheme), the ramp-up in Kanpur, payor mix optimization, expansion plans (200-250 beds to be operationalized in H2 FY27; Gurgaon 2 (300 beds) and Ludhiana (500 beds) in the next 12-18 months), and talent acquisition.
- The company confirmed that no unpublished price sensitive information (UPSI) was shared during the call.