Dr. Agarwal's Health Care · Material risks, their source context, and severity in the latest available quarter.
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Risk intelligence
New facilities (FY26 and FY27 vintages) are collectively running at ~20 crores loss level. These centers take ~3 years to mature, creating sustained drag on profitability as expansion accelerates.
Delhi NCR and other northern facilities are far from mature state; surgeries per center in North are not close to South mature facility levels despite 50.5% growth rate, indicating long ramp-up runway required.
Premium ARPU has grown from ~28,500 to ~42,000 over four years with ~10% value growth. Analyst questioned whether 10% ARPU growth is sustainable given base effect, and management could not provide specific guidance on trajectory.
Management confirmed mid-November expected closure but described being 'in the process of closing some of the final items,' suggesting some execution uncertainty around the merger completion.
