Q1 2027 Yatharth Hospital & Trauma Care Services Ltd Earnings Call Transcript
Key Points
- Record Q1 FY27 revenue of ₹3,207 million, up 51% YoY, and highest-ever quarterly profits.
- Faridabad Sector 20 hospital achieved EBITDA breakeven in just 9 months, ahead of expectations.
- New Delhi and Faridabad Sector 20 hospitals have a 90%+ cash and private insurance payer mix, with ARPOB near ₹50,000.
- Agra hospital delivered 20%+ EBITDA margin in its first full quarter of integration.
- Adjusted EBITDA margin (excluding New Delhi and Faridabad Sector 20) stood at 28.1%, reflecting strong operating leverage.
- Board approved maiden interim dividend of 5% and launched ESOP scheme to attract and retain talent.
- Oncology contributes ~10% of revenue, with plans to add LINAC machines at Faridabad and New Delhi to boost specialty mix.
- Group ARPOB reached an all-time high of ₹34,758, up 7% YoY, with Noida Extension and New Delhi crossing ₹50,000.
- Capacity expansion on track: 3,200 beds announced, with Gurugram hospital expected to go live in Q1 FY28.
- International patient outreach expanded with new information centers in Uzbekistan and OPD initiatives across Asia, Africa, and Middle East.
- Consolidated EBITDA margin declined to 23.3% due to drag from newer hospitals (New Delhi and Faridabad Sector 20).
- New Delhi hospital occupancy remains low at 29% (on increased census beds), with breakeven expected only in Q3-Q4 FY27.
- Government payer mix increased to ~40% due to CGHS rate revision, despite efforts to reduce dependence.
- Depreciation and finance costs rose significantly due to recent capacity additions and acquisitions, pressuring PAT margins.
- Interest cost increased to ₹6.6 crore in Q1 from ₹5 crore in Q4, with no immediate relief expected.
- CapEx per bed has risen to ₹61.4 lakh (from ₹30.7 lakh three years ago), and is expected to be ₹75-80 lakh for future expansions.
- Construction of brownfield expansions at Noida Extension and Greater Noida is delayed due to monsoons, with completion expected in 15-18 months.
- Agra hospital's ARPOB is lower at ~₹27,000, dragging the group average.
- Management does not expect consolidated EBITDA margins to return to 28% anytime soon, guiding only ~24% for FY27.
- Potential regulatory risk from recommendations to cap hospital room charges, though management downplays impact.
Ladies and Gentlemen, good day and welcome to Yatharth Hospital and Trauma Care Services Limited Q1 FY27 Earnings Call.( Operators Instructions )
Please note that this conference is being recorded.
I now hand the conference over to Mr. Vishal Manchanda.
Thank you, and over to you, sir.
Thank you, Athaba. Good morning, everyone. On behalf of Systematic Institutional Equities, we welcome you all to the Q1 FY27 earnings call of Yatharth Hospital and Trauma Care Services Limited.
We have it as the senior management of the company, represented by Mr. Yatharth Tyagi, full-time director, Mr. Amit Kumar Singh, Group Chief Executive Officer. Mr. Nitin Gupta, President, Finance and Group Chief Operating Officer. Mr. Pankaj Prabhakar, Group Key Financial Officer.
Mr. Ashutosh Kumar Jha, Group Key Strategy, M&A and Investor Relations. Mr. Sonu Goel, Group Key Financial Controller. I now hand over the call to the YATART management for opening remarks. Over to you, sir.
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