Asarfi Hospital Ltd — Q4 FY26 earnings call
Summary generated by AI from the official transcript Asarfi Hospital Ltd filed with BSE on 30 May 2026. Every statement cites a verbatim quote from that document — open any citation to read it. This is a record of what management said, not a recommendation. How we check these summaries
The short read
Asarfi Hospital reported consolidated FY26 revenue growth of 42% year-on-year to INR173.5 crores, with EBITDA up 42% to INR35.3 crores and PAT up 58% to INR16.7 crores. Q4 FY26 consolidated revenue grew 29% year-on-year to INR45.2 crores, with EBITDA of INR7.7 crores and PAT of INR3.9 crores. Management discussed capacity expansion in cardiology and cancer care, delays in bone marrow transplant approval and a proposed hospital merger, and outlined a Vision 2028 target of INR400 crores revenue with 500-plus beds.
1 statement from this call is not shown because its supporting quote could not be reproduced within our quoting limits. Nothing shown here is affected: every statement on this page carries its verified quote.
Numbers mentioned
Revenue from operations: INR173.5 crores (FY26)
p. 4
“we reported a strong yearon-year growth with revenue from operation increased by 42% year-on-year to INR173.5 crores as compared to INR121 crores FY25”
Harendra Singh, page 4 of the filed PDF · View the filing
EBITDA: INR35.3 crores (FY26)
p. 4
“EBITDA grew by 42% to INR35.3 crores with EBITDA margin remaining healthy at 20%”
Harendra Singh, page 4 of the filed PDF · View the filing
PAT: INR16.7 crores (FY26)
p. 4
“profit after tax grew by 58% year-on-year to INR16.7 crores with PAT margin improved to 10%”
Harendra Singh, page 4 of the filed PDF · View the filing
EBIT: INR26.4 crores (FY26)
p. 4
“EBIT increased by 44% to INR26.4 crores”
Harendra Singh, page 4 of the filed PDF · View the filing
Consolidated revenue: INR45.2 crores (Q4 FY26)
p. 4
“we delivered consolidated revenue of INR45.2 crores, registering a growth of 29% year-on-year”
Harendra Singh, page 4 of the filed PDF · View the filing
EBITDA: INR7.7 crores (Q4 FY26)
p. 4
“EBITDA stood at INR7.7 crores with EBITDA margin at 17%, while PAT increased by 9% year-on-year to INR3.9 crores”
Harendra Singh, page 4 of the filed PDF · View the filing
ARPOB (super specialty hospital): INR23,000 (FY26)
p. 4
“ARPOB for the unit improved significantly to INR23,000, while total surgeries increased by 26% year-on-year for more than 6,300 procedures”
Harendra Singh, page 4 of the filed PDF · View the filing
Cancer hospital occupancy: 42% (FY26)
p. 4
“The facility witnessed improvement in occupancy to 42% during FY26, supported by growing traction in radiation oncology and better realization from complex oncological treatment”
Harendra Singh, page 4 of the filed PDF · View the filing
IPD revenue growth: 46% (FY26)
p. 4
“IPD revenue increased by 46%, while OPD revenue grew by 34% during FY26”
Harendra Singh, page 4 of the filed PDF · View the filing
Cancer hospital revenue: INR33 crores (FY26)
p. 10
“cancer hospital last year, we had a revenue of INR20 crores, this year we have achieved a revenue of INR33 crores”
Harendra Singh, page 10 of the filed PDF · View the filing
Ayushman Bharat contribution to cancer hospital revenue: 15%
p. 6
“Our Ayushman Bharat contribution to cancer hospital is around 15%”
Harendra Singh, page 6 of the filed PDF · View the filing
Cash in bank: INR8 crores to INR10 crores
p. 13
“We are holding, INR8 crores to INR10 crores we have”
Harendra Singh, page 13 of the filed PDF · View the filing
What management said it would do
A record of statements made on the call, in the words management used. Parakho does not forecast, endorse or assess them, and their presence here is not a view on whether they will happen.
Bed capacity — 500 plus beds · 2028
stated as an aspiration by Harendra Singh
p. 5
“Our Vision 2028 roadmap targets scaling overall bed capacity to 500 plus beds, achieving revenue of around INR400 crores, and improving EBITDA margin to 23% to 25%”
Harendra Singh, page 5 of the filed PDF · View the filing
Bed capacity — 1,000 beds · FY30
stated as an aspiration by Nitin Gupta
p. 11
“in the last quarterly call, we said that we are targeting to reach 1,000 bed capacity before financial year '30”
Nitin Gupta, page 11 of the filed PDF · View the filing
EBITDA margin — 22% · FY27
stated as an aspiration by Harendra Singh
p. 8
“We definitely would like to push it to at least 22% next year”
Harendra Singh, page 8 of the filed PDF · View the filing
Revenue — INR260 crores · FY27
stated conditionally by Harendra Singh
p. 9
“Yes, sir, we are working very hard and we should be able to achieve it”
Harendra Singh, page 9 of the filed PDF · View the filing
Capex for bed capacity expansion (cancer hospital) — INR2 crores to INR3 crores
stated firmly by Harendra Singh
p. 6
“It will be around INR2 crores to INR3 crores, which will be met through internal accruals”
Harendra Singh, page 6 of the filed PDF · View the filing
Capex for Healthcare Management Research Institute — INR8 crores to INR10 crores · coming fiscal year
stated firmly by Harendra Singh
p. 13
“It will be in the tune of INR8 crores to INR10 crores”
Harendra Singh, page 13 of the filed PDF · View the filing
Total capex — less than INR15 crores
stated firmly by Harendra Singh
p. 13
“Less than INR15 crores, yes”
Harendra Singh, page 13 of the filed PDF · View the filing
Bone marrow transplant facility launch — another four, five months
stated conditionally by Harendra Singh
p. 11
“it should take another four, five months, because government is very slow and sometime, I feel that their priority is different”
Harendra Singh, page 11 of the filed PDF · View the filing
Main board migration — after July
stated firmly by Harendra Singh
p. 6
“We are figuring out the eligibility criteria and process. We will be eligible after the month of July. We have initiated the process; we will migrate”
Harendra Singh, page 6 of the filed PDF · View the filing
Hospital merger — this financial year
stated conditionally by Harendra Singh
p. 7
“We are in continuous touch and hopefully it should be done this financial year”
Harendra Singh, page 7 of the filed PDF · View the filing
Q&A highlights
Management's answers to analyst questions, in Parakho's words rather than a transcript. Each row names who answered and carries the verbatim quote it was drawn from.
It applies only to the cancer hospital, contributing around 15% of that unit's revenue.
Answered by Harendra Singh
Asked by Nitin Gupta: What is the impact of the Ayushman Bharat scheme on the hospitals?
p. 6
“Ayushman Bharat scheme is operational in our cancer hospital only. Our focus primarily remains on schemes, which has better package rates.”
Harendra Singh, page 6 of the filed PDF · View the filing
Delay is due to Jharkhand's organ transplant policy and pending regulatory approval.
Answered by Harendra Singh
Asked by Nipurn Khemka: Why was the bone marrow transplant facility delayed?
p. 6
“Basically, in Jharkhand, the organ transplant policy is not in a good state, and we are trying to obtain approval for the organ transplant facility.”
Harendra Singh, page 6 of the filed PDF · View the filing
Delayed due to unresolved inheritance of shares from deceased shareholders, expected to close this financial year.
Answered by Harendra Singh
Asked by Nipurn Khemka: What is the status of the proposed merger with another promoter-owned hospital?
p. 7
“there is a delay, because two or three shareholders had died and the heirs have not inherited the shares of those expired shareholders”
Harendra Singh, page 7 of the filed PDF · View the filing
A change in the government scheme approval process caused administrative delays that reduced patient numbers temporarily.
Answered by Harendra Singh
Asked by Ridhi Agarwal: Why did cancer patient numbers decrease in the quarter?
p. 8
“there was some changes in the methods and there was administrative delay in the approval, and that is why some few patients got decreased in the last quarter”
Harendra Singh, page 8 of the filed PDF · View the filing
Management is targeting to push EBITDA margin toward 22%, moving toward the 23-25% Vision 2028 target.
Answered by Harendra Singh
Asked by Achuth: What EBITDA margin is expected for FY27?
p. 8
“we are trying to bring case mix and margins in such a way that EBITDA remains at, achieves 23% to 25%. This year we have achieved 20% EBITDA.”
Harendra Singh, page 8 of the filed PDF · View the filing
Cancer hospital growth is expected to be the major contributor, alongside bed additions and other units.
Answered by Harendra Singh
Asked by Prashant Sharma: What is driving the INR400 crore revenue target and which levers matter most?
p. 10
“Major contribution will come from growth in the cancer hospital business, because cancer hospital has not achieved its potential based on the market, in which we are playing.”
Harendra Singh, page 10 of the filed PDF · View the filing
Management said it is not merely aspirational and is close to being finalized, pending technical issues.
Answered by Harendra Singh
Asked by Prabhat: Is the inorganic growth/acquisition plan firm or aspirational?
p. 12
“It is not aspiration. It is almost everything has been settled; only technical issues are being resolved.”
Harendra Singh, page 12 of the filed PDF · View the filing
Debtor days have improved versus prior quarters, with aging around six to seven months.
Answered by Harendra Singh
Asked by Prashant Sharma: How should investors assess receivables aging and working capital given delayed government reimbursements?
p. 13
“with regard to aging, it is around six to seven months”
Harendra Singh, page 13 of the filed PDF · View the filing
Risks flagged
Government scheme approval delays affecting patient volumes
p. 8
“there was some changes in the methods and there was administrative delay in the approval, and that is why some few patients got decreased in the last quarter”
Harendra Singh, page 8 of the filed PDF · View the filing
Political instability affecting government scheme payments
p. 8
“government schemes and payments are somehow related to political stability. There is some uncertainty in the political spectrum also”
Harendra Singh, page 8 of the filed PDF · View the filing
Regulatory delay in obtaining bone marrow transplant approval
p. 7
“the delay is caused due to the procedural delay, because the policy is not yet in place, so approval is taking a little more longer”
Harendra Singh, page 7 of the filed PDF · View the filing
Pressure on cash realization from expanding cashless treatment schemes
p. 7
“every day government is bringing in new regulations with regard to the treatment on cashless basis and that puts a lot of pressure on the cash realization”
Harendra Singh, page 7 of the filed PDF · View the filing
Low package rates under Ayushman Bharat scheme affecting realization
p. 7
“Ayushman Bharat scheme, they have very small package rates, and realization becomes difficult”
Harendra Singh, page 7 of the filed PDF · View the filing
Generated by claude-sonnet-5. Source: the transcript as filed with BSE. We link to the exchange's copy; we do not host transcripts. Parakho is a data and screening tool, not an investment adviser — nothing here is a recommendation to buy, sell or hold.