HealthCare Global Enterprises Limited has initiated a postal ballot process to seek shareholder approval for five special resolutions, including the adoption of a new employee stock option scheme and the reappointment of an independent director. The resolutions, which also cover the revision of remuneration for the Executive Director and Chief Executive Officer, require shareholder consent through remote e-voting. The record date for determining eligibility is June 05, 2026.

The company has proposed the HCG Employee Stock Option Scheme – 2026 (HCG ESOS 2026), which seeks approval to grant a maximum of 74,21,455 stock options. These options, representing 4.97% of the total share capital, are exercisable into equity shares of face value INR 10 each. The scheme aims to incentivize employees, including those of subsidiary and associate companies, by aligning their interests with the company's growth.

Key Resolutions

The postal ballot notice outlines the following special business items:

Executive Compensation and Appointments

The resolutions include specific provisions for key personnel. Dr. Manish Mattoo, Executive Director and CEO, is eligible to receive up to 18,55,364 options under the ESOP scheme, representing 1.24% of the diluted equity share capital. Additionally, the company seeks approval to revise his remuneration structure, effective April 1, 2026, to a base pay of INR 2,75,00,000 per annum and a variable pay of INR 1,25,00,000 per annum.

Mr. Rajiv Maliwal has been recommended for reappointment as an Independent Director for a term of five years effective from May 25, 2026. The Board has proposed a remuneration of INR 35,00,000 per annum for his second term, payable quarterly. This remuneration is consistent with that paid to other Independent Directors on the Board.

Voting Timeline and Process

The remote e-voting facility, managed by KFin Technologies Limited, is available to shareholders whose names appear on the register of members as on June 05, 2026. The voting period commenced at 9:00 a.m. on June 09, 2026, and will conclude at 5:00 p.m. on July 08, 2026. Shareholders must cast their votes electronically during this window, as no physical postal ballot forms will be issued.

The results of the postal ballot, along with the Scrutinizer’s Report, are scheduled to be declared on or before July 10, 2026. The company has engaged Mr. V. Sreedharan and Mr. Pradeep B. Kulkarni of M/s V. Sreedharan & Associates as Scrutinizers to oversee the voting process.

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.