Artemis Medicare Services Ltd — Q4 FY26
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 hig...
bullish
high
✓ Verified against BSE filing
Claim Ledger
Did management answer the analysts?
Every material analyst question, graded on whether management actually answered it — with the verbatim exchange and quantitative claims checked against filed numbers.
100%Questions answered0Evaded / deflected12Questions auditedMixedNumbers vs filing
Answered
High priority
Progress on critical care capabilities and future plans.
Asked by Sanjay Sha, KSA Shares and Securities
Management provided detailed breakdown of critical care capabilities and infrastructure.
Read the exchange
Question
my question was regarding u uh can you highlight on u uh critical capability of the hospital how we are progressing on that side?
Dr. Devina (Managing Director)
critical care I would divide into two types. One is a strong emergency care and the second is the in-house critical care... we have 1 is to three critical care beds... we have a great network of transports...
Answered
High priority
International patient growth strategy and geographic diversification.
Asked by Sanjay Sha, KSA Shares and Securities
Management clearly stated target international revenue share and strategy.
Read the exchange
Question
How how we can look our hospital in from uh by 2029 when we will start a geographical diversification... and is there any scope of international pressure?
Dr. Devina (Managing Director)
our end goal would be to remain at uh the same 30 31% of revenue coming from international patients irrespective of where we are...
Answered
Medium priority
Bed capacity increase in Malaysia from 80 to 110 and performance.
Asked by Sanjay Sha, KSA Shares and Securities
Management confirmed breakeven of first hospital and progress of second.
Read the exchange
Question
can you touch upon our Malaysia's uh bad capacity increase from 80 to 110 and how we are doing over there.
Dr. Devina (Managing Director)
The first hospital is broken even and is making a profit. The second hospital has just started... we are pretty much on track...
Answered
High priority
Project details and capex per bed for women's project, and EBITDA margin profile across segments.
Asked by Adita, Inqu Asset Management
Management provided specific capex numbers and addressed margin impact.
Read the exchange
Question
first was on the uh women's project... what should be the capeex per bed etc... second question was about the uh AETA margin profiles across the hospital cardiac care and daffodil segment...
Dr. Devina (Managing Director) and Rudra (CFO)
for the capeex portion... for around 450 beds the cex would be to the tune of 350 crores and for the second 200 beds it would be another 150 to 160 crores total would be 500 crores for 650 beds...
Answered
High priority
EBITDA margin trajectory for Gurgaon facility and blended margins after Raipur.
Asked by Adesh Bossalia, Spark
Management gave specific margin outlook and quantified Raipur drag.
Read the exchange
Question
we saw our Q4 IITA margins inching up to 18 and a half%... this will be continuing for the next step at 2728 we will be maintaining...
Dr. Devina (Managing Director) and Rudra (CFO)
we will not only try to maintain it but we will try to better it... there would be close to 18 to 20 crores of losses from Raipur... overall mix will be putting the beta maybe a one or one one to 1.5% lower...
Answered
High priority
Operational bed growth trajectory and timeline for Raipur beds.
Asked by Adesh Bossalia, Spark
Management provided clear triggers and timelines for bed additions.
Read the exchange
Question
right now we exceeded 26 at 544 operational bits... how are we looking this trend inching upwards... how many beds will get operationalized in FI27.
Dr. Devina (Managing Director) and Rudra (CFO)
we have the ability to start 100 more beds... at 70% occupancy we are going to be opening 50 then another 50 beds... for Raipur first phase 150 beds operational, within 3-4 months 50 more...
Answered
High priority
International patient growth in Q4 FY26 and Q1 FY27 trends.
Asked by Shankar, Capital
Management quantified dip and recovery with specific percentages.
Read the exchange
Question
can you give a bit more color on how was the growth in international patient in the last quarter which is Q4 FI26 and what are the trends... in Q1 FI27.
Dr. Devina (Managing Director)
the last month of the last quarter we saw a 15 to 18% dip... which has turned around... in May we are almost closing on to almost 90% recovery...
Answered
Medium priority
Proportion of Middle East patients in international mix.
Asked by Shankar, Capital
Management gave a specific percentage.
Read the exchange
Question
what is the proportion of Middle East patient in our current international patient if you can share that color.
Dr. Devina (Managing Director)
30%.
Answered
High priority
EBITDA margin outlook for Gurgaon facility and improvement drivers.
Asked by Shankar, Capital
Management provided a specific margin target and drivers.
Read the exchange
Question
can you give any uh uh hardcore number around the AIDA margin? How you see it going in the next 3 four years...
Dr. Devina (Managing Director)
Gurug ground facility will see aar northward of 20% if not more... driven by three factors... high-end patients, efficiency in consumption, corporate cost divided...
Answered
High priority
Occupancy improvement potential at Gurgaon unit and timeline.
Asked by Anchelra, MK Global
Management confirmed target and timeline for occupancy improvement.
Read the exchange
Question
could you please allude on the for on on the further scope of sort of improving our occupancy at Guruda unit... can occupancies go north of 70 odd percentage here onwards.
Dr. Devina (Managing Director)
Yes. Absolutely... by quarter two of the current financial year we are looking it to move to touch 70 if not exceed it...
Answered
High priority
Realistic ARPOB from Raipur facility in long run.
Asked by Pratik Shasawa, NH
Management provided a specific ARPOB range.
Read the exchange
Question
what could be the realistic AR POB from uh Raipur facility in long run?
Dr. Devina (Managing Director)
we have looked at 35,000 33 to 35,000 plus to start with and then as we start our highend like transplants and others we expect it to be higher than that.
Answered
Medium priority
Thoughts on margin caps on medical devices and impact on hospitals.
Asked by Satyam Kumar, AAA Holding Trust
Management stated no concrete developments and referenced past regulation.
Read the exchange
Question
recently some news were flowing that health ministry is like examining margin caps on medical devices... do you have any thoughts on this thing you would like to share?
Dr. Devina (Managing Director)
we haven't heard no there is no nothing concrete in this regard... the last time it happened was for the scent for you know stents and implants... nothing new has been added to that list.
Quantitative claims vs filed numbers
| Claim | Management said | Filing | Verdict |
|---|---|---|---|
| Q4 EBITDA margin 18.5% for Gurgaon facility | 18.5% | 21.3% | Understated vs filing |
| Raipur revenue expected 80-85 crores in FY27 | ₹85 cr | ₹279 cr | Understated vs filing |
| Revenue growth guidance 15-17% for flagship hospitals | 17% | 16.4% | Matches filing |
Filed figures sourced from Screener.in. Claims within a small tolerance of the filing are marked “matches filing”.