We hereby submit Earnings Call Transcript Q4 FY26.
YATHARTH · price
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Yatharth Hospital reported a strong FY26 with consolidated revenue of INR 12,072 million (up 36% YoY) and EBITDA of INR 2,921 million (up 30% YoY) at a margin of 24.2%. Q4 FY26 revenue grew 47% YoY to INR 3,416 million with EBITDA of INR 799 million (margin 23.4%). Network occupancy stood at 71% in Q4 and ARPOB improved 7% YoY to INR 33,124. The company acquired a new under-construction super-speciality hospital in Gurugram Sector 40 for ~INR 200 crores total (upfront INR 100 crores plus INR 100 crores for finishing), expected operational by April 2027 with ARPOB potential above INR 50,000. The new Agra hospital integration is progressing well with INR 7 crore monthly run rate and 18% EBITDA margins. Management reiterated target of 5,000 beds in three years (currently over 3,200) with 70% via acquisitions and 30% greenfield.
Positive for shareholders — strong growth momentum with management guiding to surpass FY26's 36% revenue growth and improve EBITDA margins in FY27. The Gurugram acquisition strengthens premium positioning and expansion pipeline, though near-term capex and integration of new hospitals will create some margin pressure before ramp-up benefits flow through.