Artemis Medicare Services Limited has submitted its quarterly monitoring agency report for Q3FY26, detailing the utilization of proceeds from its ₹330 crore preferential issue. The report, prepared by CARE Ratings Limited as the monitoring agency, was reviewed and approved by the company's Audit Committee on February 2, 2026.

Minimal Utilization During Q3FY26

During the quarter ended December 31, 2025, the company utilized ₹0.33 crore from the issue proceeds for general corporate purposes. This amount was specifically used to pay stamp duty on the issuance of equity shares against the conversion of compulsorily convertible debentures held by International Finance Corporation (IFC).

Issue Objectives and Progress

The preferential issue was structured with two primary objectives. The major portion of ₹320 crore was allocated to support acquisition, expansion, and capital expenditure requirements of the company and its subsidiaries. An additional ₹10 crore was designated for general corporate purposes.

Deployment of Unutilized Proceeds

The company has strategically deployed its unutilized proceeds across multiple fixed deposits with leading banks to generate returns while maintaining liquidity. The investments are spread across HDFC Bank, ICICI Bank, and Axis Bank with varying maturity dates and interest rates.

Fixed Deposit Portfolio

The total interest earned on these investments amounts to ₹8.46 crore, with ₹0.05 crore from matured fixed deposits being reinvested.

Compliance and Monitoring

CARE Ratings Limited, serving as the monitoring agency under SEBI regulations, confirmed that all utilization aligns with the disclosures in the offer document. The agency reported no deviations from the stated objectives and confirmed that the proceeds have been appropriately utilized according to the subscription agreement.

The monitoring agency noted that the stamp duty payment was initially made from the company's current account on December 2, 2025, and subsequently reimbursed from the monitoring account in the same month. This transaction was supported by appropriate documentation including chartered accountant certificates, bank statements, and management certifications.

Regulatory Framework

The report was submitted pursuant to Regulation 32(6) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with Regulation 162A of SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018. The completion timeline for the stated objectives extends until May 15, 2026, with the company maintaining its commitment to deploy the remaining funds as per the original plan.

Artemis Medicare Services has delivered robust financial performance in Q3FY26, with consolidated revenue rising 17.2% year-on-year to ₹2.72B from ₹2.32B in the corresponding period last year. The healthcare services company reported consolidated net profit of ₹223M, marking a 7.9% increase from ₹206M in Q3FY25.

Q3FY26 Financial Performance

The company's quarterly results demonstrate strong operational performance across key financial metrics, with notable revenue growth and margin expansion:

The revenue growth reflects the company's expanding healthcare services operations and improved market positioning. Standalone operations showed particularly strong performance with revenue growing 17.73% to ₹2.67B.

Board Meeting Outcomes

The financial results were approved during the board meeting held on February 2, 2026. The board addressed the company's Q3FY26 unaudited financial results for both standalone and consolidated operations for the quarter and nine months period ended December 31, 2025.

Fund Raising Initiatives

The board approved a comprehensive fund raising plan worth up to ₹700 crores through various financial instruments:

The fund raising initiatives will require necessary regulatory approvals and member consent as per applicable provisions of the Companies Act, 2013, and SEBI regulations.

Earnings Conference Call

Following the results announcement, Artemis Medicare Services conducted an earnings conference call on February 3, 2026, to discuss the operational and financial performance for Q3 and 9M FY26. The company has made the audio recording of this conference call available on its website for stakeholders and investors.

Exceptional Items Impact

The company reported exceptional items of ₹30.74M related to the impact of new Labour Codes notified by the Government of India in November 2025. These codes consolidate twenty-nine existing labour laws and resulted in increased gratuity and leave liability, presented as a non-recurring exceptional item.

Trading Window Status

The trading window restrictions that were implemented from January 1, 2026, concluded following the results declaration. The window remained closed until 48 hours after the financial results announcement, in compliance with regulatory requirements.