We hereby submit Earnings Call Transcript Q3 FY26.
YATHARTH · price
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Yatharth Hospital reported its highest-ever quarterly revenue of INR 3,205 million in Q3 FY26, up 46% year-on-year and 15% quarter-on-quarter, driven by 33% growth in existing hospitals and a INR 279 million contribution from newly operational New Delhi and Faridabad Sector-20 hospitals. EBITDA reached a record INR 742 million (up 35% YoY) with adjusted EBITDA margin of 29.2%, and net profit stood at INR 431 million (up 41% YoY). The company holds a net cash position of around INR 200 crores and plans to add 3,000 beds over the next 3-4 years to reach 5,000 total beds, backed by an INR 1,500 crore capex plan. Management targets reducing government payer mix from 35% to 25-28% in 2-2.5 years, lowering receivable days from 115 to 80-82, and growing oncology contribution from 10% to 15% within 1.5 years.
Strong quarterly beat with record revenue and profitability, supported by rapid ramp-up of new hospitals and benefits from CGHS price revisions, should be positive for the stock. The 3,000-bed expansion plan signals aggressive growth but will create some margin drag in the near term, even as management guides for sustained margin improvement.