Financial Performance Summary

Q4 FY26 Financial Highlights:

| Metric | Q4 FY26 | Q4 FY25 | YoY Growth | Q3 FY25 | QoQ Growth |

| Revenue (INR Mn) | 4,599 | 3,701 | 24.3% | 4,454 | -3.2% |

| EBITDA (INR Mn) | 1,447 | 1,147 | 26.1% | 1,470 | -1.5% |

| EBITDA % | 31.5% | 31.0% | +47 bps | 33.0% | -153 bps |

| PAT (INR Mn) | 782 | 566 | 38.3% | 739 | 5.8% |

| PAT % | 17.0% | 15.3% | +172 bps | 16.6% | +42 bps |

Full Year FY26 Financial Highlights:

| Metric | FY26 | FY25 | YoY Growth |

| Revenue (INR Mn) | 17,031 | 15,159 | 12.4% |

| EBITDA (INR Mn) | 5,442 | 4,899 | 11.1% |

| EBITDA % | 32.0% | 32.3% | -37 bps |

| PAT (INR Mn) | 2,815 | 2,442 | 15.3% |

| PAT % | 16.5% | 16.1% | +42 bps |

Operational Performance

Capacity and Utilization Metrics:

  • Capacity Beds: 2,375 (up 23% YoY from 1,935)
  • Operational Beds: 1,806 (up 19% YoY from 1,523)
  • Occupancy: 45.30% (down 121 bps YoY from 46.51%)
  • IP Discharges: 27,165 (up 18% YoY from 22,975)
  • OP Consultation: 424,702 (up 19% YoY from 356,901)
  • Deliveries: 5,138 (up 22% YoY from 4,221)
  • ARPOB: ₹62,464 (up 8% YoY from ₹58,057)
  • ALOS: 2.71 days (down 2% YoY from 2.77 days)

Full Year Operational Metrics:

  • IP Discharges: 104,514 (from 98,395 previous year)
  • OP Consultation: 1,598,970 (from 1,426,733 previous year)
  • Deliveries: 19,228 (from 17,349 previous year)

Key Developments and Strategic Updates

Capacity Expansion and New Facilities:

  • Commissioned ~60-bed hospital in HRBR Layout, Bengaluru on May 4, 2026
  • Launched dedicated IVF centre in Mahadevapura, Bengaluru under 'BirthRight by Rainbow' brand on May 4, 2026
  • Signed lease agreement for asset-light greenfield spoke hospital with ~80 beds in Seegehalli micro-market, Bengaluru
  • Current network: 24 hospitals and 5 clinics in 9 cities with total bed capacity of 2,435 beds

Project Updates:

  • Coimbatore regional hub hospital (~130 beds): Construction underway, expected commencement in H2 FY28
  • Gurugram (NCR) facilities: Sector 44 (~325 beds) hub hospital and Sector 56 (~125 beds) spoke hospital under construction
  • Sector 56 facility expected to commence operations in H2 FY28
  • Pune regional greenfield hub hospital (~150 beds): Received government approvals, excavation work commenced

Financial Position and Capital Allocation:

  • Cash, cash equivalents, fixed deposits, and mutual fund investments: ₹5,942 million as of March 31, 2026
  • Capital expenditure during quarter: ₹609 million
  • Board recommended final dividend of 35% per equity share (₹3.5 per share) amounting to ₹355.5 million
  • Company states it is well-positioned to complete all planned capital expenditures using internal resources

Management Commentary:

Dr. Ramesh Kancharla, Chairman & Managing Director, highlighted:

  • Healthy momentum across network with steady growth in operating metrics
  • Newer hospitals scaling up well
  • Mr. Abrar Ali Dalal has transitioned into CEO role
  • Strategic focus shifted to execution, clinical excellence, occupancy improvement, and service excellence
  • Current capacity expansion cycle largely complete

Other Highlights:

  • Received 'Great Place to Work' certification for the sixth time with 90% plus score
  • Operational beds include acquisitions: Warangal (70 beds from July 1, 2025), Guwahati (85 beds from September 1, 2025), Rajahmundry (~80 beds from October 1, 2025), Electronic City (72 beds from February 1, 2026)