Global Health Limited has announced its audited consolidated financial results for the fourth quarter and financial year ended March 31, 2026. The Board of Directors, at its meeting held on May 14, 2026, approved the results. The company delivered its highest ever quarterly revenue of INR 11,958 million in Q4 FY26, representing a growth of 25.3% year-on-year. For the full year, consolidated total income stood at INR 45,089 million, up by 19.6% compared to the prior year. Profit after tax for FY26 increased by 15.1% to INR 5,541 million. The audio recording of the earnings conference call held on May 15, 2026, hosted by ICICI Securities, has been made available on the company's investor relations page.

Consolidated Financial Highlights

The following table summarizes the key consolidated financial metrics for the quarter and full year:

Consolidated EBITDA for the year stood at INR 10,560 million, with margins at 23.4%. Excluding the recently operationalized Noida hospital, EBITDA was INR 11,343 million, up 18.6% year-on-year with margins of 25.7%. The Noida facility, inaugurated in November 2025, reported revenue of INR 906 million and an EBITDA loss of INR 783 million for the year. Total bed capacity grew by 20.5% with the addition of 623 beds during the year, including new facilities in Ranchi and capacity expansion in Patna.

Q4 Operational Performance

For the quarter ended March 31, 2026, Global Health reported consolidated EBITDA of INR 2,906 million, a growth of 17.4% year-on-year, with margins at 24.3%. EBITDA excluding Noida grew 27.0% to INR 3,142 million with improved margins of 27.5%. Profit after tax for the quarter was INR 1,417 million, a robust increase of 39.7% year-on-year. Operational metrics showed strong volume growth, with in-patient count increasing by 23.0% and out-patient count rising by 27.5% during the quarter. Occupancy stood at approximately 61% on expanded bed capacity.

Strategic Developments

During the year, the company operationalized a 110-bed hospital in Ranchi and expanded capacity in Patna. The Board approved a new 400-bed hospital project in Guwahati and a 400-bed facility in Varanasi under a build-to-suit lease arrangement. Additionally, the company executed a Business Transfer Agreement with Asian Institute of Oncology Private Limited for an 80-bed Advanced Super Speciality Hospital in Indore, expected to be operational in Q2 FY27. The company also onboarded over 550 doctors, including 200+ senior clinicians, to strengthen clinical capabilities.

Management Commentary

Management highlighted that the Noida hospital is ramping up steadily, with Q4 EBITDA loss reducing to INR 236 million from INR 320 million in Q3. The facility achieved NABH accreditation within six months of operations. The company remains focused on expanding its footprint through greenfield projects and selective inorganic expansion, with total project capex estimated at approximately INR 45,000 million over the next five years. The company exited FY26 with a net cash position of INR 5,906 million.

Dividend Declaration

The Board of Directors has recommended a final dividend of 25% on the face value of INR 2 per share, amounting to INR 0.50 per equity share for the financial year ended March 31, 2026. This dividend is subject to the approval of shareholders at the ensuing Annual General Meeting.

Global Health management has announced that newer construction regulations will enable the company to add 600-700 more hospital beds than previously anticipated, resulting in a revised upward target for its overall bed capacity.

Expanded Bed Capacity Target

According to the company's management, the revised construction norms have created an opportunity to accommodate a significantly larger number of beds within its planned facilities. As a result of this regulatory development, Global Health now expects to reach a total of 7,000 hospital beds over the next 3-4 years — a figure that exceeds its earlier projections by 600-700 beds.

The key highlights of this capacity expansion update are summarised below:

Regulatory Tailwind Driving Expansion

The management attributed the increase directly to changes in construction regulations, which appear to have relaxed or modified norms governing hospital facility design or floor space utilisation. This regulatory shift has allowed Global Health to plan for a greater number of beds within its upcoming or ongoing construction projects without a proportional increase in footprint or cost — though no specific financial details were provided in the announcement.

The revised bed addition of 600-700 units over and above the original plan represents a notable upward adjustment to the company's long-term capacity roadmap, reinforcing its focus on scaling healthcare infrastructure across its network.