Krishna Institute of Medical Sciences Ltd10:50 pm IST
KIMS Hospitals Q1 FY27: revenue 1,180 crore; debt reduced; Kondapur ramp-up and empanelment progress.
Financial Performance
- Quarter 1 FY27 consolidated revenue 1,180 crore, up 35.3% YoY.
- Quarter 1 FY27 EBITDA pre-Ind AS 222 crore, up 14.6% YoY.
- EBITDA margin 20.1% in Q1 FY27; 20.27% Q1 FY26; 19.9% Q4 FY26.
- PAT INR 37 crore in Q1 FY27; Q1 FY26 INR 85 crore; Q4 FY26 INR 33 crore.
- Cash and equivalents INR 505 crore as of 30 Jun 2026.
- QIP raised INR 1,500 crore; INR 1,100 crore utilized to reduce debt.
- Promoter preferential allotment INR 600 crore; 25% upfront; balance in 18 months.
- Debt reduced from INR 3,250 crore (Mar 31, 2026) to around INR 2,400 crore by early July.
- Kondapur hospital commissioned; first patient admitted June 20; July revenue grew 40%.
Growth and Capex
- Palakkad Kerala unit opened; Bengaluru Mahadevapura break-even achieved.
- Electronic City expected break-even in 1-2 quarters.
- CAPEX last quarter ~INR 60-75 crore; Rajahmundry capex ~60-75 crore this year.
- Next nine months CAPEX ~INR 100-125 crore across three assets; Kondapur largely done.
- O&M agreements with Golden Lane and Sarvottam; 300-bed near Kondapur; revenue potential INR 90-95 crore/month.
- Empanelment progress: 50% of insurers empanelled; remaining 50% pursued; most by Aug-Sep.
- Debt-equity target 2.5:1; internal accruals for growth CAPEX.
Operations and Margin Trajectory
- Telangana occupancy around 50-52%; Kondapur beds added late; 70% ramp target in 3-4 years.
- Nashik break-even; Thane margins around 10% in June; improvement expected.
- Mahadevapura break-even achieved; Electronic City expected break-even by year-end or 1-2 quarters.
- Bengaluru ARPOB around INR 80,000–85,000; ARPP similar; empanelments will normalize.
- Kerala margins targeted at 20–22% over 2-3 years; current single-digit.
- ARPOB growth guidance: 4–5% sustainable; management cautions progress.
Outlook and Q&A Highlights
- No formal FY27 guidance yet; focus on stabilizing current hospitals.
- Kondapur revenue potential around INR 1,200 crore annually (~INR 100 crore/month).
- Other expansion plans depend on empanelments; potential greenfield/brownfield in core markets.
- Old Kondapur rentals ~INR 90 lakhs/month; annual ~INR 12 crore; additional costs ~INR 3–4 crore.
- O&M deals yield top-line share; P&L impact material only after ramp-up.
- Common empanelment progress; industry updates expected in coming months.