Operates a chain of multi-speciality hospitals in Delhi-NCR and Uttar Pradesh providing tertiary and quaternary healthcare, with over 3,200 beds across nine facilities and FY26 revenue of ₹1,207 crore. Three new hospitals commenced operations during FY26 — a 300-bed facility in Delhi's Model Town (July 2025), a 400-bed hospital in Faridabad Sector 20 (September 2025), and a 150-bed Shantived hospital in Agra (February 2026) — and these newer units together contributed ₹753 crore (22% of group revenue) in Q4 FY26. A 250-bed under-construction super-speciality hospital in Gurugram Sector 40 was acquired for ~₹200 crore (₹100 crore upfront plus ₹100 crore finishing capex) and is targeted to be operational by April 2027 with expected ARPOB above ₹50,000. The network recorded FY26 occupancy of around 68% and ARPOB of ₹33,124, while CGHS rate revision from December 2025 is expected to add ~5% to revenue and ~3% to EBITDA. Government payers (CGHS and similar schemes) make up ~35% of revenue, with management targeting a reduction to ~25% over two years by reweighting the payer mix toward the newer hospitals. Management is targeting 5,000 beds within three years — currently over 3,200 — with roughly 70% of additions via acquisitions and 30% greenfield, at ~₹75 lakh per bed for the Noida Extension and Greater Noida brownfield projects. The largest cost line is other operating expenses at 36.9% of revenue, followed by employee costs at 19.4% and depreciation at 7.3%. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Hospital healthcare services (100%), Newer hospitals (Delhi, Faridabad Sec-20, Agra) (22%), Government payers (CGHS and similar) (35%). Capital-intensive, regionally clustered multi-speciality hospital chain in North India with active bed-capacity expansion
| ₹ crore · consolidated | FY24 | FY25 | FY26 |
|---|---|---|---|
| Revenue | 671 | 880 | 1,207 |
| EBITDA (ex other income) | 180 | 220 | 292 |
| margin % | 26.8 | 25.0 | 24.2 |
| Owners' profit | 114 | 0 | 170 |
| EPS, as reported (₹) | 14.46 | 14.72 | 18.20 |
| ROE % · ROCE % | 13.1 · 17.5 | 8.0 · 10.9 | 9.4 · 11.0 |
| Debt / equity (x) | 0.10 | 0.00 | 0.14 |
| Cash from operations | (3) | 150 | 205 |
| Capex | (93) | (311) | (317) |
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 218 | 219 | 232 | 258 | 279 | 320 | 342 | 393 |
| Profit before tax | 40 | 40 | 49 | 59 | 55 | 57 | 52 | 61 |
| Net profit | 31 | 30 | 39 | 42 | 41 | 43 | 45 | 45 |
| EPS (₹) | 3.59 | 3.57 | 4.37 | 4.36 | 4.28 | 4.71 | 4.93 | 4.88 |
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| APOLLO HOSPITALS ENTER. L | 1,27,062 | 60.8 | 12.74 | 33.5 | 20.1 | 16.6 | 19.0 | 16.2 |
| MAX HEALTHCARE INS LTD | 1,00,993 | 69.2 | 9.40 | 44.0 | 13.4 | 11.1 | 27.3 | 27.0 |
| FORTIS HEALTHCARE LTD | 67,025 | 64.0 | 6.59 | 32.9 | 10.5 | 9.7 | 17.8 | 22.0 |
| ASTER DM QUALITY CARE LTD | 39,689 | 124.0 | 8.21 | 40.4 | 8.8 | 8.5 | (11.6) |
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 4 Sept 2026 · Newspaper notice of 19th AGM and e-voting details | compliance | minimal | — | — |
| 3 Sept 2026 · Yatharth Hospitals submits FY 2025-26 BRSR to NSE and BSE | compliance | medium | — | — |
| 3 Sept 2026 · Yatharth Hospital AGM notice for Sep 25: accounts, IPO funds revision, new ESOP scheme | board shareholder meetings | medium | — | — |
| 28 Aug 2026 · Reply on Aster-Advent stake news: nothing disclosable, strategy ongoing | strategic transactions | high | — | — |
| 28 Aug 2026 · Exchange seeks clarification on Aster, Advent stake buyout news | regulatory legal | high | — | — |
| 22 Aug 2026 · Newspaper notice for 19th AGM on September 25, 2026 | compliance | minimal | — | — |
| 21 Aug 2026 · Yatharth Hospital fixes 19th AGM date as September 25, 2026 | board shareholder meetings | low | — | — |
| 18 Aug 2026 · Q1FY27 earnings call: record revenue, 51% growth, bullish on expansion | investor communications | medium | — | — |
| 13 Aug 2026 · IPO Monitoring Agency Report Q1FY27: Delays flagged in fund deployment | compliance | low | — | — |
| 11 Aug 2026 · Q1FY27 earnings call recording available on website | investor communications | low | — | — |
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions |
| 14.3 |
| GLOBAL HEALTH LIMITED | 38,972 | 70.0 | 9.78 | 39.4 | 13.9 | 13.5 | — | 23.7 |
| NARAYANA HRUDAYALAYA LTD. | 38,213 | 46.5 | 8.42 | 25.4 | 17.8 | 9.2 | 25.0 | 18.8 |
| KRISHNA INST OF MED SCI L | 32,235 | 150.5 | 12.60 | 43.4 | 9.5 | 5.1 | 24.0 | 20.3 |
| DR AGARWALS HEALTH CARE L | 16,043 | 107.9 | 7.57 | 26.2 | 7.9 | 7.1 | — | 28.8 |
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 51.5 | 47.3 | 19 of 30 | 38% |
| P/B | 5.2 | 6.2 | 9 of 24 | 65% |
| ROCE | 10.7 | 10.9 | 16 of 30 | 48% |
| ROE | 9.4 | 11.8 | 17 of 24 | 30% |
| Debt / Equity | 0.1 | 0.2 | 9 of 24 | 65% |
| EBITDA margin | 24.5 | 22.0 | 10 of 24 | 61% |
| Revenue growth | 52.3 | 20.2 | 2 of 23 | 96% |
| Profit growth | 8.1 | 8.1 | 11 of 21 | 50% |
| Market cap | 9337 | 2415 | 12 of 30 | 62% |
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| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
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