RAINBOW CHILDRENS MED LTD

Runs a chain of paediatric and maternity hospitals in India under a hub-and-spoke model, where larger tertiary hubs feed smaller spoke units in the same city. As of the latest reported quarter it operates 24 hospitals across 9 cities with 2,565 beds and 1,075-plus doctors, and is extending to Western India with a 100-bed greenfield in Malad, Mumbai (due Q1 FY28). Revenue is earned from in-patient admissions, out-patient consultations, deliveries and paediatric intensive/quaternary care such as ECMO, with Q1 FY27 revenue of ₹470 cr (+33% YoY) on IP discharges +28%, OP consultations +25% and deliveries +23%, at an ARPOB of ₹67,256 and occupancy above 41%. The medium-term plan adds 2,500 beds over five years to reach 5,000 beds, of which 1,200 are already under execution, funded by an estimated ~₹2,100 cr of capex. Q1 FY27 EBITDA margin was 28.6%, with management guiding to 24–25% by year-end as newly commissioned hospitals ramp up. The biggest cost line is other operating expenses at 41.0% of revenue (FY26), followed by employee costs at 13.7% and materials at 13.3%, with depreciation at 8.8% and capex at 12.7%.