News Earnings Artemis Medicare Services Q3 FY26 Results: Revenue Grows 17.2% to INR 272 Crores, Plans Major ExpansionArtemis Medicare Services Q3 FY26 Results: Revenue Grows 17.2% to INR 272 Crores, Plans Major Expansion
Artemis Medicare Services reported strong Q3 FY26 results with revenue of INR 272 crores (up 17.2% YoY) and EBITDA of INR 52 crores. Nine-month revenues reached INR 802 crores with net profit of INR 73 crores. The company announced a INR 700 crore fundraise to support expansion from 700-800 beds to 2,000-2,300 beds by 2029, including new facilities in Raipur (300 beds, operational April-May 2026) and South Delhi (650 beds by 2029). International patient revenue grew 34.9%, contributing 34% of total revenues.
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Artemis Medicare Services delivered robust financial performance in Q3 FY26, demonstrating strong growth across key operational metrics while announcing ambitious expansion plans that will significantly scale its healthcare infrastructure over the next few years.
Financial Performance Highlights
The company's financial results for Q3 FY26 showed consistent growth momentum across all major parameters:
| Metric | Q3 FY26 | Growth (YoY) |
|---|---|---|
| Consolidated Revenue | INR 272 crores | +17.2% |
| EBITDA | INR 52 crores | Strong improvement |
| EBITDA Margin | 9.1% | Improved |
| Profit After Tax | INR 22 crores | +7.9% |
For the nine-month period ending December 2025, the company reported consolidated revenues of INR 802 crores, representing a 15.1% year-on-year increase. EBITDA for nine months FY26 reached INR 159 crores with a margin of 19.8%, while net profit stood at INR 73 crores compared to INR 59 crores in the corresponding period of FY25.
Operational Excellence and Key Metrics
Artemis Medicare's flagship facility in Gurugram maintained strong operational performance with several key indicators showing positive trends:
| Parameter | Q3 FY26 Performance |
|---|---|
| Occupancy Rate | 62% |
| Average Revenue Per Bed (ARPOB) | INR 84,100 |
| ARPOB Growth | +10% YoY |
| International Patient Revenue Growth | +34.9% |
| International Revenue Share | 34% of total revenues |
The company's international patient revenue demonstrated exceptional growth of 34.9%, contributing INR 89 crores to total revenues. This growth reflects Artemis Medicare's strong position in medical tourism, serving patients from 52 countries across the Middle East, Africa, and CIS regions.
Major Expansion Plans and Fundraising
Artemis Medicare announced a comprehensive expansion strategy that will transform its scale and reach. The company's board has approved a INR 700 crore fundraise through a combination of Qualified Institutional Placement (QIP) and preferential allotment to fund this ambitious growth plan.
Current and Planned Facilities
| Facility | Beds | Timeline | Status |
|---|---|---|---|
| Current Operations | 700-800 | Operational | Active |
| Raipur Super Specialty | 300 | April-May 2026 | Under commissioning |
| South Delhi (VIMHANS) | 650 | 2029 | Contract signing by FY26 end |
| Additional Projects | TBA | 2029 | In pipeline |
| Total Target | 2,000-2,300 | By 2029 | Planned |
The Raipur facility represents a capex investment of INR 100 crores for 300 beds, structured as a long-term lease arrangement. The facility will begin operations with 200 beds, scaling to full capacity within 18 months, with expected ARPOB of INR 30,000 to INR 35,000 initially.
Strategic Infrastructure Developments
The company achieved significant milestones in infrastructure enhancement during the quarter. Artemis Medicare received platinum green building certification, which entitles the company to a 15% increase in Floor Area Ratio (FAR). This certification allows the addition of 100 to 125 more beds to the Gurugram facility at no additional land cost.
The South Delhi facility, planned as a 650-bed super specialty hospital, will be developed on trust land with an estimated cost of INR 75 to INR 80 lakhs per bed. This compares favorably to typical South Delhi healthcare facility costs of INR 1.75 to INR 2 crores per bed.
Technology and Service Expansion
Artemis Medicare continued investing in advanced medical capabilities and digital transformation initiatives. The company implemented AI-assisted triage systems across facilities to enhance patient experience and operational efficiency. New service lines launched during the quarter include:
- Heart-lung transplant programs
- Advanced robotic surgery capabilities
- Comprehensive geriatrics packages
- Enhanced oncology and organ transplant services
These high-value service additions, while requiring initial manpower investments, are expected to generate significant returns with procedures ranging from INR 35 to INR 55 lakhs for heart-lung transplants and INR 5 to INR 7 lakhs for annual geriatric packages.
Financial Strategy and Debt Management
The planned fundraising will enable the company to maintain conservative debt levels while funding aggressive expansion. Management indicated that maximum debt levels will remain below INR 300 crores, specifically in the INR 250 to INR 280 crore range, even with the substantial expansion program.
The fundraising structure ensures promoter majority retention, with current promoter shareholding at 58.3% post-CCD conversion, and commitment to maintain above 50% ownership even after the new fundraise.
Historical Stock Returns for Artemis Medicare Services
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| +4.85% | -8.10% | -15.61% | -7.85% | -21.62% | +957.36% |
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