Yatharth Hospital & Trauma Care Services Limited reported its highest-ever quarterly revenue of ₹3,927 million for Q1FY27, marking a 51% increase year-on-year and a 15% rise quarter-on-quarter. The robust top-line growth was accompanied by an EBITDA expansion of 39% to ₹917 million, with net profit (PAT) reaching ₹454 million. The performance underscores the successful integration of newer assets and improved operational leverage across the group's hospital network.

Financial Performance

The financial results for the quarter ended June 30, 2026, reflect a significant shift in revenue mix, with newer hospitals contributing substantially to the bottom line. While existing hospitals in Noida and Jhansi-Orchha delivered steady growth, the newer facilities in Greater Faridabad, New Delhi, Faridabad Sector 20, and Agra accounted for 27% of the total group revenue.

The adjusted EBITDA margin, excluding the impact of the New Delhi and Faridabad Sector 20 hospitals, stood at 28.1%. The overall consolidated EBITDA margin was 23.3%, reflecting the initial ramp-up phase of recent acquisitions. Management noted that while depreciation and finance costs increased due to capacity additions over the past 12 months, cash profit (PAT plus depreciation) grew by 32% year-on-year.

Operational Highlights & Capacity Expansion

Yatharth Hospital’s average revenue per occupied bed (ARPOB) reached an all-time high of ₹34,758, up 7% from the previous year. Premium NCR hospitals, including Noida Extension and New Delhi, crossed the ₹50,000 ARPOB mark for the first time, signaling an improving case mix. Greater Noida achieved an ARPOB of ₹43,000, while Faridabad Sector 20 approached ₹40,000.

Occupancy levels at the established Noida and Jhansi-Orchha hospitals remained strong at over 90%. The group’s total bed capacity has expanded to 2,555 beds, with plans to reach over 3,200 beds soon through brownfield expansions in Noida Extension and Greater Noida, alongside the upcoming Gurugram facility. The Gurugram hospital, featuring 250 beds, is expected to go live by Q1 of the next fiscal year.

Newer Hospitals Performance

The acquisition strategy has shown early success, with newer hospitals collectively contributing ₹1,067 million in revenue. Key operational milestones include:

• Faridabad Sector 20: Achieved EBITDA breakeven within nine months, contributing ₹12–13 crore monthly revenue.
• New Delhi: Operating at a monthly revenue run rate of ₹8 crore with an ARPOB nearing ₹50,000.
• Agra: Delivered a 20%+ EBITDA margin in its first full quarter of integration, with a revenue run rate of ₹9–10 crore.

Strategic Initiatives & Outlook

In recognition of the strong performance, the Board approved a maiden interim dividend of 5% of face value for all shareholders. Additionally, the company launched a new ESOP scheme for 2026 to attract and retain talent. Yatharth Hospital also expanded its international outreach by opening an information center in Uzbekistan and initiating OPD programs in Asia, Africa, and the Middle East.

Looking ahead, management reaffirmed its roadmap to double bed capacity to 5,000 beds within the next few years, primarily focusing on North India and metro cities. The company expects to maintain revenue growth above last year’s 37% YoY rate, with full-year FY27 EBITDA margins targeted at upwards of 24%. ARPOB growth is estimated at 9%–10% for the fiscal year.

What the Numbers Show

The divergence between the consolidated EBITDA margin (23.3%) and the adjusted margin excluding new assets (28.1%) highlights the significant drag from recently acquired hospitals still in their ramp-up phase. However, the rapid breakeven of Faridabad Sector 20 within nine months suggests that this drag will diminish quickly as these assets mature. The simultaneous rise in ARPOB (+7%) and occupancy (~75%) indicates that growth is being driven by both volume and value, rather than just capacity addition, supporting the sustainability of the margin expansion trajectory.

Yatharth Hospital & Trauma Care Services has reaffirmed its FY27 guidance, with management indicating the company is on track to surpass last year's revenue growth and achieve an EBITDA margin upwards of 24%, according to a recent concall update. The update signals broad-based operational momentum across capacity expansion, profitability, and revenue metrics.

Accelerated Bed Capacity Expansion

Management has revised its bed expansion outlook, now expecting the 5,000-bed target to be achieved in less than three years — potentially around 2.5 years — ahead of the originally planned three-year timeline. With 3,200 beds already announced, the company has made substantial progress toward this milestone.

FY27 Financial Guidance

On the financial front, management expects Average Revenue Per Occupied Bed (ARPOB) to grow 9% to 10% year-over-year for FY27 and beyond, reflecting sustained pricing and occupancy improvements. The company also targets an EBITDA margin upwards of 24%, with revenue growth projected to exceed last year's performance.

New Hospital Profitability and CapEx Outlook

Management provided detailed projections for new hospital units, noting that these facilities are expected to reach EBITDA margins of 15% to 20% within 15 to 18 months post-breakeven, and surpass 25% within two years. On the capital expenditure front, the CapEx per bed for the next 1,800 beds is estimated at ₹75 lakhs to ₹80 lakhs, with the Gurugram facility costing nearly ₹1 crore per bed.

The concall update collectively underscores Yatharth Hospital's focus on scaling healthcare infrastructure at an accelerated pace while maintaining a clear trajectory toward improved margins and revenue growth.