Global Health Gets Credit Rating Upgrade from CRISIL

Global Health Limited has received a credit rating upgrade from CRISIL Ratings, with the agency revising the company's long-term rating to CRISIL AA/Stable from the previous CRISIL AA-/Positive. The upgrade applies to the company's total bank loan facilities valued at ₹1,500 crore.

Credit Rating Details

CRISIL Ratings has upgraded Global Health's long-term rating to AA/Stable from AA-/Positive for its ₹1,500 crore bank facilities. The short-term rating has been reaffirmed at A1+.

Rating Type	Current Rating	Previous Rating	Action
Long Term Rating	CRISIL AA/Stable	CRISIL AA-/Positive	Upgraded
Short Term Rating	CRISIL A1+	CRISIL A1+	Reaffirmed
Total Facilities	₹1,500 Crore	₹1,500 Crore	-

Banking Facility Breakdown

The rated facilities are distributed across four major banks, comprising both term loans and working capital facilities. The banking arrangement demonstrates the company's diversified funding approach across leading financial institutions.

Bank	Facility Type	Amount (₹ Crore)	Rating
State Bank of India	Proposed Term Loan	-	CRISIL AA/Stable
State Bank of India	Working Capital Facility	-	CRISIL A1+
ICICI Bank Limited	Term Loan	100.00	CRISIL AA/Stable
ICICI Bank Limited	Working Capital Facility	-	CRISIL A1+
HDFC Bank Limited	Working Capital Facility	-	CRISIL A1+
YES Bank Limited	Working Capital Facility	140.00	CRISIL A1+

Regulatory Compliance

The company informed the stock exchanges about the rating revision in compliance with Regulation 30 read with Schedule III of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Facility Features

The working capital facilities include specific sublimits designed to support the company's operational requirements. These sublimits comprise:

₹150.00 crore for capital expenditure letters of credit
₹20.00 crore for bank guarantees

These sublimits provide flexibility for the company's business operations.

CRISIL Ratings maintains continuous surveillance and review of all assigned ratings, with the agency reserving the right to withdraw or revise ratings based on new information or changing circumstances. The rating agency noted that companies must avail proposed facilities within 180 days from the rating letter date to maintain validity.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+0.87%	+0.84%	-3.12%	-1.63%	+1.62%	+177.53%

Global Health Limited , a leading multi-specialty tertiary care provider in North and East India, has reported robust financial results for the second quarter of fiscal year 2026, while also expanding its hospital network.

Q2 FY26 Financial Highlights

Global Health delivered strong performance in Q2 FY26, with consolidated total income reaching ₹11,189.00 million, marking a 14.8% year-on-year growth. The company's profit after tax (PAT) increased by 21.1% to ₹1,584.00 million, with PAT margins improving to 14.2% from 13.4% in the same quarter last year.

Key financial metrics for Q2 FY26:

Metric	Q2 FY26	Y-o-Y Growth
Total Income	₹11,189.00 million	14.8%
EBITDA (ex-Noida)	₹2,804.00 million	13.7%
Profit After Tax	₹1,584.00 million	21.1%
ARPOB	₹65,570.00	5.5%

The company's Average Revenue Per Occupied Bed (ARPOB) grew by 5.5% year-on-year to ₹65,570.00, driven by an increase in realization and changes in specialty mix.

Operational Performance

Global Health witnessed strong volume growth across its network. In-patient count increased by 12.7%, while out-patient count rose by 14.9% compared to the same period last year. Occupied bed days increased by 7.7% year-on-year, representing an occupancy rate of approximately 64% on increased bed capacity.

Expansion and New Facilities

A significant milestone for Global Health was the launch of its sixth hospital, a 550-bed facility in Noida, which commenced operations in September 2025. The Noida hospital is currently operational with 226 beds, including 81 ICU beds and 5 operating theatres. Over 150 doctors across key specialties have already joined the new facility.

Mr. Pankaj Sahni, Group CEO and Director, commented on the expansion, stating, "We are extremely pleased to share that in September 2025, we launched our sixth hospital, a state-of-the-art, 550-bed facility in Noida. We are encouraged by the initial response from the community and are progressively ramping up operations."

Mumbai Project Update

Global Health has announced plans to increase the capacity of its upcoming Mumbai hospital from 500 to 750 beds. This expansion follows the receipt of additional Floor Space Index (FSI) approval from the Mumbai Housing and Area Development Authority (MHADA). The total project cost for the Mumbai facility, including land acquisition and FSI purchase, is now estimated at ₹15,300.00 million.

Other Developments

The company added 37 new beds at its Patna facility during the quarter, bringing the total addition to 57 beds in H1 FY26 in Patna.
Global Health received in-principle approval for allotment of 3.5 acres of land in Guwahati, Assam, with physical possession obtained after the quarter's end.
The company initiated a year-long Cancer Awareness Program, with the inaugural campaign focusing on breast cancer awareness.

Global Health's expansion strategy and strong financial performance demonstrate its commitment to growth and improving healthcare accessibility across North and East India. The company's focus on high-end specialties and regional hubs positions it well for continued success in the healthcare sector.

About Global Health Limited

Global Health Limited operates a network of six hospitals under the "Medanta" brand across Gurugram, Indore, Ranchi, Lucknow, Patna, and Noida. With a total of 3,435 installed beds as of September 30, 2025, the company provides healthcare services in over 30 medical specialties and engages over 2,000 doctors led by experienced department heads.