We hereby submit the transcript of the Earning Conference call held on November 19, 2025, wherein the Unaudited Standalone & Consolidated financial Results for the half year ended September ....
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Asarfi Hospital reported H1 FY26 revenue of Rs. 80.6 crores, up 50% year-on-year, with EBITDA at Rs. 15.86 crores (38% growth, 20% margin) and PAT at Rs. 7.32 crores (70% growth, 9% margin). The cancer hospital in Dhanbad showed strong traction with occupancy improving from 26% to 44% and ARPOB more than doubling to Rs. 41,401. Management signed an MoU with Gleneagles Hospital, Chennai to set up a multi-organ transplant unit in Jharkhand. Management guided for FY26 revenue of Rs. 160 crores with 13-15% PAT margin, and a Vision 2027 target of 500 beds, Rs. 200+ crores revenue, 25-27% EBITDA margin, and 13-15% PAT margin. They also disclosed plans to merge a 70-bed hospital owned by a promoter entity on a cashless basis and expand cancer hospital beds from 65 to 150 with minimal capex of around Rs. 10 crores funded through internal accruals.
Strong H1 numbers with 50% revenue growth and 70% PAT growth signal robust operational momentum. The clear multi-year guidance to reach Rs. 200+ crores revenue and 500 beds by 2027, combined with planned merger of promoter hospital, supports a growth story. However, trade receivables growing 67% YoY (faster than revenue) due to high government payer mix remain a key watchpoint for working capital.