Yatharth Hospital & Trauma Care Services Ltd

AGM Date Notice

• 19th AGM scheduled for Friday, September 25, 2026 at 12:00 IST via VC/OAVM.
• Notice of AGM and Annual Report to be dispatched to members in due course.
• Meeting held in compliance with Companies Act 2013 and MCA/SEBI circulars.
• Information will be hosted on the company website.

Financial Performance

• Highest-ever quarterly revenue; INR 3,927 million, up 51% YoY, 15% QoQ.
• EBITDA INR 917 million; PAT INR 454 million; consolidated EBITDA margin 23.3%.
• Adjusted EBITDA margin 28.1% (ex New Delhi & Faridabad Sector 20).
• ARPOB all-time high: INR 34,758; Noida Extension & New Delhi cross INR 50,000.
• Beds network expanded to 2,555; announced capacity of 3,200 beds.
• New Delhi hospital monthly revenue run-rate ~INR 8 crores; ARPOB near INR 50,000.
• Gurugram 250-bed facility expected to live by Q1 of next fiscal.
• Agra EBITDA 20%+ in first full quarter after integration.
• Board approved maiden interim dividend of 5% of face value.
• ESOP 2026 launched to attract/retain talent.
• Uzbekistan Information Center opened; international outreach expanded.

Operating Update

• occupancy: Noida/Jhansi-Orchha >90%; Greater Noida ~74%; Noida Extension ~56%.
• Delhi Model Town census beds 150 (vs 100 last quarter); Faridabad census beds 200 (vs 100).
• New Delhi and Faridabad 90% cash & private insurance revenue mix.
• Agra occupancy near 90%; census beds 110 of 250 planned.
• 3,200-bed capacity announced; includes 250 Gurgaon live by upcoming fiscal Q1.

Capex and Capacity Expansion

• Capex per bed ~INR 75–80 lakhs; Gurgaon near INR 1 crore per bed.
• Debt at ~INR 300 crores (up from ~INR 210 crores); acquisition funding ~INR 80 crores.
• Brownfield Noida extension and Greater Noida live in 15–18 months; 450 beds planned.
• Current capacity ~2,800; announced capacity ~3,200 beds.
• Target 5,000 beds by FY29; pace expected to exceed 3-year target.

Guidance and Outlook

• FY27 EBITDA margin target upwards of 24%; not a 28% target in near term.
• ARPOB growth guidance: ~9–10% YoY; overall revenue growth on track to exceed prior year.
• Bed capacity target remains ~5,000 by FY29; certain expansions to be faster than 3-year plan.
• ARPOB uplift expected with higher speciality mix; Delhi/Faridabad near breakeven already.

Q&A Highlights

• 3,200-bed capacity announced; 250 Gurgaon live by Q1 next fiscal; 450 brownfield beds in Noida cluster live in ~15 months (200 of 450 earlier; 250 in 18–19 months).
• Payer mix: government ~40% overall; newer hospitals government share ~10%; CGHS rate revisions lifting government revenue ~2%.
• Model Town & Delhi ramp: Delhi breakeven ~15–17 months; Faridabad Sector 20 breakeven ~9 months; 70% occupancy targets for mature beds.
• Interest cost rose to ~INR 6.6 crores this quarter from INR 5 crores; no new debt planned in near term.
• Depreciation run-rate guided at INR 20–30 crores per quarter; consolidated depreciation guidance ~29 crores for next quarters.

Issue Overview

• Type and securities: IPO of equity shares.
• Net proceeds: no material revision or undersubscription reported.
• Main objectives: debt repayment, capex, working capital, acquisitions, and general corporate purposes.

Utilisation of Proceeds

• Utilisation broadly as disclosed, but with ongoing delays in implementation.
• No material deviation observed; approvals for delays pending.
• Repayment by company: fully utilised.
• Subsidiaries' borrowings: largely utilised; small unutilised balance.
• Capex for Noida/Greater Noida hospitals: fully utilised.
• Capex for subsidiaries: partially utilised; substantial unutilised balance.
• Inorganic growth: fully utilised.
• GCP: largely utilised; minor idle balance.
• Unutilised funds status: funds parked in fixed deposits and monitoring accounts.

Governance & Compliance

• All statutory approvals obtained.
• Delays in implementation may cause cost overruns affecting viability.
• No material deviation from offer document reported.

GCP

• GCP utilization: largely used; minor idle balance.
• Board approval for GCP allocation not indicated.

Meeting Details

• Date and time: August 11, 2026 at 11:00 AM IST.
• Type and mode: Earnings call; virtual/webcast.
• Event: Q1FY27 earnings call; organiser: Yatharth Hospital & Trauma Care Services Ltd.

Participants

• Key management participants not disclosed in the filing.

Purpose

• Purpose: discuss Q1FY27 results and investor interaction.

Availability

• Audio recording available on the company website.
• Disclosure also accessible on the investors page.

Financial Performance

• Q1 FY27 revenue ₹3,927 mn; up 51.5% YoY.
• EBITDA ₹917 mn; EBITDA margin 23.3%.
• PAT ₹454 mn; PAT margin 11.6%.
• ARPOB ₹34,758; +7% YoY.
• Bed capacity 2,800+; occupancy ~68%.
• New hospitals ₹1,067 mn revenue; existing hospitals grew 22% YoY.
• Q1 FY27 EBITDA breakeven achieved for Faridabad Sector-20.

Operational Highlights

• Nine hospitals, 2,805 beds; occupancy 68%.
• Transplant programme started in Q1 FY27.
• Da-Vinci X surgical robot; 150+ robotic surgeries to date.
• Radiation Oncology to commence in H2 FY27.
• Gurugram 250-bed hospital under construction; 100% stake ₹100 crore; operational by Q1 FY28.
• Diversified NCR presence: Greater Noida, Model Town Delhi, Faridabad Sec-20, Agra; existing Noida/Noida Extension/Jhansi-Orchha.

Growth & Capex Plan

• Bed capacity expansion plan of ~3,250 beds; target ~5,000 beds in 3 years.
• Gurugram project: outlay ₹200 crore; additional ₹100 crore for equipment.
• New NCR clusters to accelerate occupancy ramp-up and ARPOB improvement.

Capital & Dividends

• First Interim Dividend announced in Aug-26.
• MSCI India Small Cap Index constituent since Aug-25.
• Exclusive hospital partner to Noida International Airport.

Governance & Market Credentials

• JCI/NABH/NABL quality indicators highlighted; focus on premium NCR network.
• Global footprint expansion: Uzbekistan information centre; partnerships in Africa, Middle East.

Risks

• Ramp-up losses in newer hospitals; adjusted EBITDA margin excludes ramp-up losses.

Meeting Details

• Date: August 13, 2026; time not disclosed.
• Physical investor conference in Mumbai; organized by Emkay Global Financial Services.

Participants

• Key company participants: management representatives; Company Secretary & Compliance Officer.

Purpose

• Purpose: participation in Emkay Confluence 2026 investor conference.

Additional Notes

• Availability: information will be available on the company website.

Record date and dividend entitlement

• Purpose: Record date for entitlement to the First Interim Dividend FY 2026-27.
• Security: Equity shares.
• Record date: Friday, 14 August 2026.
• Dividend: Rs 0.50 per equity share (₹10 face value), 5%.
• Subject to tax deduction at source (TDS) under IT Act.
• Entitlement: members listed on register or depository records as of Aug 14, 2026.
• Payment: within 30 days from declaration date (Aug 10, 2026).

Business Overview

• NCR-focused hospital group with 9 hospitals and 2,805 beds pursuing cluster-based growth.
• Premium high-value services including robotics, transplant, and radiation oncology.
• Gurugram 250-bed hospital under construction; 100% stake; Rs 200 crore outlay; equipment Rs 100 crore; due Q1 FY28.
• Bed capacity over 2,800; occupancy around 68%; ARPOB Rs 34,758.
• 9 hospitals, 2,805 beds; revenue CAGR +39% over 5 years.

Operational Highlights

• Transplant programme started in Q1 FY27; Da-Vinci X robotic system deployed; 8 robots group-wide.
• Radiation Oncology to commence in H2 FY27; Faridabad Sec-20 EBITDA breakeven in 9 months.
• New hospitals contributed Rs 1,067 mn revenue in Q1; existing hospitals grew 22% YoY.
• Q1 FY27 revenue mix: Existing hospitals 73%, New hospitals 27%.

Financial Performance

• Revenue from operations Rs 3,927 mn in Q1 FY27; YoY growth 51.5%.
• EBITDA Rs 917 mn; EBITDA margin 23.3% (adjusted 28.1% excluding ramp-up losses).
• PAT Rs 454 mn; PAT margin 11.6%.
• ARPOB Rs 34,758; up 7% YoY.

Capital Structure & Liquidity

• Gurugram 250-bed hospital: 100% stake; Rs 200 crore outlay; equipment Rs 100 crore.
• First Interim Dividend announced August 2026.

Strategic Priorities & Outlook

• Cluster-based growth: target ~3,250 incremental beds; aim ~5,000 beds in 3 years.
• Occupancy ramp-up and higher ARPOB mix to drive profitability.
• Exclusive hospital partnership with Noida International Airport; expansion beyond NCR.
• Global footprint: information centre in Uzbekistan; partnerships in Africa/Middle East; branding initiatives.

Risks & Mitigation

• Ramp-up losses in newer hospitals affect reported margins; adjusted EBITDA excludes ramp-up impact.
• Execution risk of rapid capex and occupancy ramp.

Governance & Leadership

• Statutory Auditor: BDO International; Internal Auditor; Deloitte; MSCI India Small Cap since Aug-2025.
• First Interim Dividend; governance enhancements; no major leadership changes disclosed.
• Group-wide robotics program with 8 robots; quality accreditations across hospitals.