Side-by-side earnings comparison across verified financials, AI summaries, management guidance, risks, quotes, and accountability signals.
Aditya Birla Sun Life AMC reported Q4 FY26 revenue of ₹458 crore (+6.8% YoY), but EBITDA fell to ₹222 crore (-4.7% YoY) and PAT dropped to ₹181 crore (-20.6% YoY) due to mark-to-market losses on other income.
Read Aditya Birla Sun analysis →Artemis Medicare delivered a strong Q4 FY26 with consolidated revenue of INR 279 crore (+16.4% YoY) and PAT of INR 30 crore (+32.1% YoY), driven by higher patient volumes in high-margin specialties and improved case mix.
Read Artemis Medicare Services analysis →Aditya Birla Sun Life AMC reported Q4 FY26 revenue of ₹458 crore (+6.8% YoY), but EBITDA fell to ₹222 crore (-4.7% YoY) and PAT dropped to ₹181 crore (-20.6% YoY) due to mark-to-market losses on other income. The mutual fund quarterly average AUM grew 14% YoY to ₹4.36 lakh crore, with equity AUM up 17% to ₹1.90 lakh crore. SIP book stood at ₹76 crore, and new SIP registrations rose 16% QoQ to ~6 lakh. The company won an EPFO equity mandate and is expanding its GIFT City subsidiary. Management expects the regulatory impact from the 5 bps total expense ratio cut to be largely neutral through cost optimization. Key risk: sustained market volatility could pressure AUM growth and flows.
Artemis Medicare delivered a strong Q4 FY26 with consolidated revenue of INR 279 crore (+16.4% YoY) and PAT of INR 30 crore (+32.1% YoY), driven by higher patient volumes in high-margin specialties and improved case mix. EBITDA margin expanded to 21.3% as operational efficiencies and cost management offset input pressures. The Gurugram flagship saw occupancy of 64.6% and ARPOB of INR 84,571 (+7.3% YoY). International patient revenue grew 26.9% for the full year, with recovery from a March dip. The Raipur 300-bed hospital is on track for Q1 FY27 commissioning, with guided losses of INR 18-20 crore in the first year. The company targets 2,000 beds by 2029, supported by a INR 700 crore fundraising plan. Key risk: potential margin dilution from Raipur ramp-up and regulatory uncertainties around medical device pricing caps.
Overall mutual fund AUM grew 14% year-on-year to ₹4.36 lakh crore.
Equity mutual fund quarterly average AUM increased 17% year-on-year.
SIP book declined from ₹87 crore in Q3 to ₹76 crore in Q4, partly due to cancellations.
New SIP registrations rose 16% quarter-on-quarter to 6.71 lakh.
Occupancy improved from ~60% as new towers matured; target 70% by Q2 FY27.
Driven by enhanced case mix and higher-paying patients.
Growth despite West Asia war; 30% of revenue from international patients.
Capacity expansion ongoing; target 2,000 beds by 2029.
Management expects to offset the 5 bps total expense ratio cut through cost optimization and distributor commission adjustments, aiming for a neutral impact on profitability.
Management guidance marginsEmployee stock option expenses will increase by approximately ₹8-10 crore per quarter in FY27 due to a new employee scheme launched in Q4.
Management guidance otherPlans to launch an open-ended global emerging market fund through the GIFT City subsidiary, targeting offshore investors.
Management guidance expansion300-bed super-specialty hospital in Raipur will start in Q1 FY27; first phase of 150 beds operational, remaining 150 within 3-4 months.
Management guidance expansionManagement guided for losses of INR 18-20 crore in FY27 from Raipur, with break-even expected in 18 months.
Management guidance marginsGurugram facility expected to deliver EBITDA margin north of 20% in coming years, driven by case mix, cost efficiencies, and corporate cost dilution.
Management guidance marginsBoard approved fundraising up to INR 700 crore to fund new brownfield/greenfield projects beyond announced ones.
Management guidance capexPersistent equity market volatility and FII outflows could pressure AUM growth and lead to higher SIP cancellations, as seen in Q4.
high · management_commentaryThe 5 bps total expense ratio cut effective April 2026 could compress margins if cost optimization measures fall short.
medium · analyst_questionSIP cancellations rose during the volatile quarter, and if sustained, could slow AUM growth despite strong new registrations.
medium · data_observationRaipur hospital expected to incur INR 18-20 crore losses in FY27, potentially dragging consolidated EBITDA margin by 1-1.5%.
medium · management_commentaryAnalyst raised concern about health ministry examining margin caps on medical devices (30-50% range); management downplayed but acknowledged uncertainty.
medium · analyst_questionMarch saw 15-18% dip in international patients due to West Asia war; recovery underway but risk remains.
low · management_commentaryCash flow from operations at ~60% of EBITDA; analyst noted lower conversion in H2, though management attributed to normal operations.
low · data_observationWe will try and do the structures in such a manner that it does have least impact as far as the P&L concerns.
Our ambition on SIP is to reach every household in India making holistic SIP as a reality.
Our end goal would be to remain at the same 30-31% of revenue coming from international patients irrespective of where we are and how our topline moves.
We are looking at both all the options. We have a little pipeline with some other opportunities. So we are kind of taking that call whether to start this 100 bed facility in the current financial year or to take up another brown field or a green field project.
