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Medi Assist reported FY '26 total income of INR 923.2 crores (23.6% YoY growth) and operating revenue of INR 904.8 crores (25.1% growth). EBITDA stood at INR 174.6 crores with margin of 19.3%, showing quarterly expansion with Q4 at 19.9% vs Q3 at 18.6%. The company became debt-free in January 2026 with free cash flow of INR 260.5 crores. Total premium under management reached INR 25,923 crores (22.8% growth). Segment breakdown: Group contributed 69.5% (INR 629.1 crores), Government grew 42.6% to INR 113.6 crores, and Technology SaaS surged 91.9% to INR 21.7 crores. Paramount integration is 3 quarters in with 50%+ claims volume migrated to MAtrix platform. AI fraud detection prevented INR 540 crores in losses. Management indicated technology business could yield 1.5x to 2x the margin profile of traditional TPA business.