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Revenue
₹45.2 Cr
verified against source
Revenue YoY
29%
reported change
EBITDA
₹7.7 Cr
latest reported figure
Source
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record provenance
Actual signal trajectory
Where this quarter sits.
Quarter read
What the record says.
Asarfi Hospital reported Q4 FY26 consolidated revenue of 45.2 crore (+29% YoY), EBITDA of 7.7 crore (17% margin), and PAT of 3.9 crore (+9% YoY). Full-year revenue grew 42% YoY to 173.5 crore, with EBITDA margin at 20%. Growth was driven by higher IPD volumes (+46% YoY), improved case mix, and expansion of cardiac capacity to 45 beds. The cancer hospital scaled to 33 crore revenue (vs 20 crore last year) with 42% occupancy. Management guided for FY27 revenue of 260 crore and EBITDA margin improvement to 22-23%, supported by bed expansion (cancer from 65 to 150 beds), bone marrow transplant unit, and potential inorganic growth. Key risks include regulatory delays in organ transplant approvals and volatility in government scheme reimbursements.
Colored figures show movement against the previous available record.
Guidance to track
- Management targets revenue of approximately 260 crore for FY27, driven by bed expansion, higher occupancy, and inorganic growth.
- Management aims to improve EBITDA margin to at least 22% in FY27, up from 20% in FY26, through cost management and better case mix.
- Plans to expand cancer hospital capacity from 65 beds to 150 beds over the next two years, with minimal capex of 2-3 crore.
- Bone marrow transplant unit expected to start within 4-5 months, pending government approval; revenue contribution expected from FY28.
Risks flagged
- Government approval for bone marrow transplant unit is delayed due to procedural issues, pushing revenue contribution to FY28.
- Changes in government scheme approval systems caused a decline in cancer patient volumes in Q4; future volatility could impact revenue.
- Receivables aging of 6-7 months due to delayed government reimbursements may keep working capital elevated.
- The FY27 revenue target of 260 crore and 500+ bed capacity by 2028 appear aggressive given current run-rate and regulatory hurdles.
Key quotes
- Our vision 2028 road map target scaling overall bed capacity to 500 plus beds achieving revenue of around 400 crores and improving EBITDA margin to 23 to 25%.
- In last 20 years we have built system and we have opened only two hospitals so now it is time to be aggressive.
- It appears that things have settled down but as you know that government schemes and payments are somehow related to political activity.
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