ABATE AS INDUSTRIES LIMITED

Operates an integrated platform spanning eye-care hospitals, retail, education, optical and talent services, with a Bahrain GCC presence through subsidiaries. The healthcare arm runs through Abate Eye Hospital and is the strategic growth focus — the hospital launched Kerala's first Alcon Vision Suite, a fully integrated digital ophthalmic ecosystem covering diagnosis, surgical planning, surgery and post-operative recovery using the NGENUITY 1.5 3D Visualization System and ADi digital surgical planning platform. Healthcare currently contributes 22% of consolidated revenue, with management targeting 70-80% over the long term; the hospital segment accounts for around 70% of group gross profit but only about 15% of operating profit, indicating it is still in a scaling phase. Retail provides cash-flow stability to fund healthcare expansion. Other group entities include associate SAIA Educational Support Services, optical retail, talent services, and Bahrain-based subsidiaries Salamath Import & Exports, Sky International Trading and Prudential Management Services. In FY26, consolidated revenue was Rs 161.68 crore (+67% YoY) with PAT of Rs 12.3 crore (over 10x YoY) and the first positive operating cash flow of Rs 6.1 crore. Reported FY26 cost shape shows materials at 0% of revenue, employees at 5.1%, other opex at 11.2%, depreciation at 1.3% and capex at 1.9% of revenue. FY26 EBITDA margin was 9.6%, with management guiding 18-20% across FY26-FY29 and flagging an FY27 capex need of around Rs 50 crore. AR · MarketPing reader · 2026-08-02

Revenue streams, as the annual report describes them. Healthcare (eye care/ophthalmology) (22%), Retail, Education, Optical, Talent services, Bahrain GCC operations. Multi-vertical integrated platform in transition from a building phase to a scaling phase, with healthcare (eye hospital) as the strategic growth pivot funded by retail cash flow.

Exhibit 1: Financial summary, FY25–FY26 (all audited; no estimate years)