Medi Assist Healthcare Services Limited reported strong financial performance for Q3 and nine-month period FY26, achieving 24% year-on-year revenue growth and becoming debt-free from January 2026. Following the results announcement, the company has made available the audio recording of its earnings call held on February 09, 2026.

Strong Financial Performance and Debt-Free Achievement

The company demonstrated robust growth with operating revenue increasing 24.0% year-on-year for the nine-month period. EBITDA reached 21.7% (excluding Paramount), while standalone Paramount TPA showed remarkable improvement with margins expanding 557 basis points quarter-on-quarter.

The company achieved debt-free status by reducing debt from previous levels to ₹39.4 Cr as of December 2025, and completely eliminating debt from January 2026 onwards, strengthening its balance sheet position.

Market Share Expansion and Premium Growth

Medi Assist continued to expand its market presence with total Group and Retail premiums administered growing 21.9% year-on-year to ₹19,298.1 Cr. The company's market share of Group and Retail premiums under administration increased to 21.1%, representing an expansion of 133 basis points year-on-year.

The company processed 72.91 lakh claims during the period, including 17.22 lakh cashless inpatient claims, 9.80 lakh reimbursement inpatient claims, 18.22 lakh cashless outpatient claims, and 27.67 lakh reimbursement outpatient claims.

Technology Platform Performance

Medi Assist's proprietary technology offerings showed exceptional growth with revenues increasing 81.5% year-on-year. The company's AI-powered platforms continued to demonstrate strong performance across key metrics.

MAven Guard and Raksha Prime now integrate as add-ons with legacy and proprietary systems, including insurers' captive claims processing centres, expanding the company's reach across the ecosystem.

Earnings Call Recording and Regulatory Compliance

Pursuant to Regulation 30 and Regulation 46(2) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the company has made available the audio recording of its earnings call held on February 09, 2026. The call discussed the unaudited financial results for the quarter and nine months ended December 31, 2025.

The recording is accessible on the company's website, providing stakeholders with detailed insights into the financial performance and strategic developments discussed during the investor conference call.

Leadership Changes and Strategic Appointments

The Board appointed Ms. Sunita Rebecca Cherian as Additional Director (Non-Executive, Non-Independent Director) effective February 06, 2026. With over 30 years of experience across various functions, she will serve as Member of the Nomination & Remuneration Committee and Corporate Social Responsibility Committee.

Ms. Himani Atul Kapadia will complete her second and final term as Independent Director on March 14, 2026. The Board also approved the transfer of Paramount TPA business to Medi Assist TPA, effective February 1, 2026, ensuring operational continuity and seamless service delivery.

Medi Assist Healthcare Services Limited has submitted its quarterly compliance report for fund utilization under Regulation 32 of SEBI regulations, confirming adherence to the stated objectives of its preferential issue for the quarter ended December 31, 2025.

Fund Raising and Utilization Overview

The company successfully raised INR 198.00 crore through a preferential issue on October 10, 2025. During the quarter under review, the company deployed INR 148.40 crore toward its primary objective of investing in its wholly-owned subsidiary, Medi Assist Insurance TPA Pvt. Limited, for debt prepayment and repayment purposes.

Fund Allocation and Deployment

The preferential issue proceeds were allocated across two primary objectives. The major portion of INR 150.00 crore was designated for investment in the subsidiary for debt prepayment and repayment, while INR 48.00 crore was earmarked for general corporate purposes.

Unutilized Funds Management

The company has deployed the unutilized proceeds of INR 49.60 crore in liquid mutual funds to generate returns while maintaining liquidity. The funds are invested across four different liquid funds, each earning a return of 0.48%.

Regulatory Compliance and Monitoring

CARE Ratings Limited, appointed as the monitoring agency, has issued its report confirming no deviation from the stated objectives. The monitoring agency verified that all utilization aligns with the disclosures made in the offer document and the extraordinary general meeting resolution dated September 04, 2025.

The company's Audit Committee and Board of Directors reviewed the fund utilization statement at their meeting held on February 06, 2026, with both providing no adverse comments on the deployment of proceeds. The funds were transferred from the escrow account to the company's bank account in two tranches on December 30, 2025, and December 31, 2025.

Corporate Governance and Transparency

The company has maintained full transparency in its fund utilization reporting, with Company Secretary Rashmi B V confirming compliance with all regulatory requirements. The monitoring agency's report indicates that no government or statutory approvals were required for the stated objectives, and no unfavorable events have affected the viability of the fund utilization plans.

The company has a two-year timeline for complete utilization of the raised funds, with the current deployment progressing as per the originally disclosed timeline without any delays in implementation.