Asarfi Hospital Ltd has approved participation in a tender to upgrade a 100-bedded district hospital in Dhanbad into a medical college under a Public-Private Partnership (PPP) framework. The Board of Directors sanctioned the proposal during a meeting held on 27 June 2026, authorizing the submission of a bid to the Department of Health, Medical Education and Family Welfare, Government of Jharkhand. The project aims to augment the existing facility and establish an annual intake capacity of at least 100 MBBS students.

To facilitate the bid, the board approved the furnishing of a refundable Bid Security amounting to ₹3.52 Crores. This security may be provided in the form of a Bank Guarantee or an Insurance Security Bond, adhering to the conditions specified in the tender document. The financial commitment will remain valid for a period of up to 180 days from the bid due date or as otherwise prescribed under the Request for Proposal (RFP) conditions.

The company clarified that this approval is strictly for participation in the bidding process and does not constitute an award of the project. The decision aligns with the management's recommendation to pursue opportunities within the healthcare education sector in Jharkhand.

The disclosure was submitted to BSE Limited pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Asarfi Hospital Limited reported a 58% year-on-year increase in profit after tax (PAT) to INR16.7 crores for the financial year ended March 31, 2026 (FY26), driven by robust operational performance and improved case mix. Revenue from operations grew by 42% to INR173.5 crores from INR121 crores in the previous year, while EBITDA increased by 42% to INR35.3 crores, maintaining a healthy margin of 20%. The company’s board discussed these audited standalone and consolidated financial results during an earnings conference call on May 27, 2026.

Operational Performance

The hospital chain demonstrated strong momentum across key operational parameters during FY26. In-patient department (IPD) revenue rose by 46%, and out-patient department (OPD) revenue grew by 34%. In-patient volume crossed 16,000, while out-patient volume reached approximately 1.38 lakhs. The super specialty hospital, which accounts for 285 beds, saw total surgeries increase by 26% year-on-year to over 6,300 procedures. Average revenue per occupied bed (ARPOB) for this unit improved significantly to INR23,000.

Financial Highlights FY26

Q4 FY26 Results

For the fourth quarter of FY26, the company reported consolidated revenue of INR45.2 crores, registering a growth of 29% year-on-year. EBITDA stood at INR7.7 crores with a margin of 17%, while PAT increased by 9% to INR3.9 crores. The quarter witnessed strong growth in IPD revenue, supported by higher surgical volume and better realization. Key contributing specialties included Cardiology, General Medicine, and Neurosurgery, with Orthopedics emerging as a fast-growing segment.

Strategic Outlook and Guidance

Management outlined a 'Vision 2028' roadmap targeting a scaling of overall bed capacity to over 500 beds and achieving revenue of around INR400 crores with improved EBITDA margins of 23% to 25%. Key growth drivers include expanding the cancer hospital capacity from 65 beds to 150 beds and establishing a bone marrow transplant unit. The company is also exploring strategic management contracts and partnerships in nearby regions. For FY27, the company targets revenue of INR260 crores and aims to push EBITDA margins to at least 22%.

Business Expansion and Capex

The cancer hospital, operationalized in FY25, achieved 42% occupancy during FY26 and generated revenue of INR33 crores, up from INR20 crores in the previous year. To support expansion, the company estimates a capital expenditure (capex) of less than INR15 crores for the upcoming year, including INR8 crores to INR10 crores for a Healthcare Management Research Institute under construction. Increasing bed capacity at the cancer facility is expected to require a modest investment of INR2 crores to INR3 crores, to be funded through internal accruals. The company also confirmed plans to migrate to the main board, with eligibility expected after July.