India · Delayed Price · Currency is INR Krishna Institute of Medical Sciences Earnings Call Transcripts
Fiscal Year 2026
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Q3 FY26 saw record revenue above INR 1,000 crore, with strong growth in new hospitals but margin pressure from ramp-up costs. Debt has peaked and is expected to moderate as CapEx winds down, while break-even is targeted soon for new units.
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Q2 FY26 saw 23% revenue growth but EBITDA and EPS declined due to new hospital ramp-up costs. Margin expansion is expected as new units break even, with Andhra and Telangana clusters maintaining strong profitability. CGHS price hikes and insurance empanelment will support future margins.
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Revenue grew 26.8% YoY to INR 879 crore, with EBITDA at INR 200 crore and margin at 22.7%. New units in Thane, Bangalore, and Kerala are ramping up, with initial losses expected to neutralize within 12 months. Net debt stands at INR 2,020 crore, and ARPOB is projected to rise as new facilities mature.
Fiscal Year 2025
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FY25 delivered robust revenue and EBITDA growth, driven by mature clusters and new hospital launches. Margin expansion was supported by higher ARPOB, specialty mix, and technology adoption, with new units expected to turn EBITDA positive within a year.
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Revenue grew 29.7% year-over-year to INR 790 crore, with EBITDA up 36.4% and margin at 25.9%. Expansion continues in Kerala, Maharashtra, and Bangalore, with new hospitals and clinical milestones achieved. Debt and CapEx remain within guided levels, and margins are expected to improve as new specialties ramp up.
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Revenue and EBITDA grew strongly year-over-year and quarter-on-quarter, with margins improving and asset-light expansion underway in Kerala and Maharashtra. Strategic focus remains on Tier 2/3 cities, maintaining low CapEx and stable leverage, while new hospitals may cause a short-term EBITDA drag.
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Revenue and EBITDA grew strongly year-over-year, with ARPOB and margins improving. Expansion continues with new acquisitions and hospital launches, while debt and CapEx are managed within set limits. Margin sustainability is expected despite new hospital drag.