HealthCare Global Enterprises reported a 15% year-on-year increase in revenue to INR2,545 crore for the financial year ended March 31, 2026. For the fourth quarter, revenue stood at INR652 crore, reflecting an 11.3% growth. The company attributed the performance to higher volumes, better realization discipline, and payor mix optimization, alongside the strengthening of its core oncology platform.

Adjusted EBITDA for FY26 grew 19% year-on-year to INR471.1 crore, with margins improving by 70 basis points to 18.5%. In Q4 FY26, adjusted EBITDA reached INR125 crore, up 17%, with margins expanding by 90 basis points to 19.2%. The company noted that operating leverage, better utilization, and disciplined cost management drove the margin expansion. Net debt reduced to 1.4x during the year, supported by a rights issue of INR425 crore and healthy operating cash flow conversion of 75%.

Financial Performance

The company's growth was broad-based across its network. The West cluster remained the largest revenue contributor, accounting for approximately 45% of FY26 revenues and growing 14%. The South cluster contributed 39% of revenues with 13% growth, while the East cluster contributed 11% with 11% growth. International business in Kenya delivered strong growth, with revenue increasing 71% for the full financial year.

Strategic Developments

During the year, HCG commenced operations at its North Bangalore facility, adding MR-Linac technology to the market. The Board approved the sale of Milann, the fertility business, to Inviga Healthcare Fund for an enterprise valuation of INR63 crore. The transaction is expected to close in Q1 of FY27. The company also appointed Sanjeev Kumar Saxena as Chief Financial Officer and Ravi Gothwal as Head of Investor Relations.

Looking ahead, management plans to add approximately 200 beds over the next 24 months through brownfield expansions in Cuttack, Ranchi, Vizag, and Bhavnagar. The company targets a net debt to EBITDA ratio of 2.5x in the medium to long term and aims to add about 1,000 beds by FY30 through a mix of greenfield and brownfield expansions.

HealthCare Global Enterprises Limited has strengthened its leadership team with the appointment of Mr. Sanjeev Kumar as Chief Financial Officer and Key Managerial Personnel effective May 25, 2026. The Board of Directors approved this appointment based on the recommendations of the Nomination and Remuneration Committee and the Audit Committee. Consequently, Dr. Manish Mattoo, Executive Director and Chief Executive Officer, ceased to hold the additional charge of Interim Chief Financial Officer from the same date. The company disclosed these changes to the stock exchanges under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Leadership and Board Appointments

Alongside the CFO transition, the Board approved the re-appointment of Mr. Rajiv Maliwal as a Non-Executive Independent Director for a second term of five consecutive years effective from May 25, 2026, subject to shareholder approval. Mr. Maliwal is not liable to retire by rotation. Additionally, the Board appointed Mr. Ravi Gothwal as AVP – Investor Relations, designated as Senior Management Personnel, effective May 19, 2026.

Internal Auditor Re-appointment

The Board also re-appointed Mr. Vijay S. Shanbhag as the Internal Auditor for a further term of one year effective from May 30, 2026, under Section 138 of the Companies Act, 2013. The meeting of the Board of Directors commenced at 11:30 a.m. and concluded at 10:30 p.m.

Summary of Appointments