GPT Healthcare Ltd — Q4 FY26 earnings call
Summary generated by AI from the official transcript GPT Healthcare Ltd filed with BSE on 22 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
GPT Healthcare reported Q4 FY26 revenue of Rs 128 crore, up 24% year-on-year, with EBITDA of Rs 25 crore at a 19.5% margin and PAT of Rs 14.7 crore. For the full year FY26, revenue from operations was Rs 478.5 crore with EBITDA of Rs 90.1 crore at an 18.8% margin and PAT of Rs 42.2 crore. Management attributed the margin compression to the newly commissioned Raipur hospital, which posted a negative EBITDA of Rs 13.8 crore during the year while occupancy across mature hospitals improved.
Numbers mentioned
Revenue from operations: INR128 crores (Q4 FY26)
p. 6
“Starting with quarter 4 of FY '26, our revenue from operations stood at INR128 crores, a growth of 24% on a Y-o-Y basis.”
Anurag Tantia, page 6 of the filed PDF · View the filing
EBITDA: INR25 crores (Q4 FY26)
p. 6
“EBITDA for the quarter was INR25 crores, translating to a margin of 19.5% Profit after tax was INR14.7 crores with a PAT margin of 11.4%.”
Anurag Tantia, page 6 of the filed PDF · View the filing
Revenue from operations: INR478.5 crores (FY26)
p. 6
“In FY '26, our revenue from operations stood at INR478.5 crores and EBITDA was INR90.1 crores with a margin of 18.8%.”
Anurag Tantia, page 6 of the filed PDF · View the filing
PAT margin: 8.8% (FY26)
p. 6
“Profit after tax came in at INR42.2 crores, translating to a PAT margin of 8.8%.”
Anurag Tantia, page 6 of the filed PDF · View the filing
Raipur Hospital EBITDA: negative INR13.8 crores (FY26)
p. 6
“The FY '26 EBITDA from the Raipur Hospital was negative INR13.8 crores, and the EBITDA from mature hospitals is INR103.9 crores, making the overall EBITDA INR90.1 crores.”
Anurag Tantia, page 6 of the filed PDF · View the filing
EBITDA margin excluding Raipur: 23.06% (FY26)
p. 6
“Similarly, the EBITDA margin, excluding Raipur is 23.06%, which is a 94 basis point improvement as against our overall EBITDA margin of 22.1% in FY '25.”
Anurag Tantia, page 6 of the filed PDF · View the filing
ARPOB: INR39,200 (FY26)
p. 4
“During the year, the ARPOB increased from INR 37,000 to INR 39,200, while network occupancy stood at 55.9%, up from 53% for the same period last year, excluding the newly commissioned Raipur facility.”
Anurag Tantia, page 4 of the filed PDF · View the filing
Network occupancy: 45.87% (FY26)
p. 4
“The overall network occupancy stood at 45.87%.”
Anurag Tantia, page 4 of the filed PDF · View the filing
Raipur Hospital occupancy: 12.35% for FY, 14.26% for Q4 (FY26 / Q4 FY26)
p. 4
“Raipur Hospital occupancy was 12.35% for the FY and 14.26% for the quarter 4 FY '26.”
Anurag Tantia, page 4 of the filed PDF · View the filing
Salt Lake Hospital ARPOB: INR43,800 (Q4 FY26)
p. 4
“the ARPOB of the hospital improved from INR39,300 to INR43,800 in Q4, showing significant improvement on a year-on-year basis.”
Anurag Tantia, page 4 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.
Management expects optimum occupancy by Q3 of the current financial year and monthly breakeven around the same time.
Answered by Management
Asked by Deepak Ajmera: When will Raipur reach desired occupancy levels?
p. 7
“We expect optimum occupancy levels to be reached by quarter 3 of this year.”
Management, page 7 of the filed PDF · View the filing
Management said Raipur would post a slight loss for the full year, close to breakeven, with full positive contribution expected next year.
Answered by Management
Asked by Dixit Doshi: Will Raipur be at breakeven or a loss for the full year?
p. 8
“On a full year basis, we will be at a slight loss, which will be almost very, very close to breakeven. Next year, we expect it to be fully positive.”
Management, page 8 of the filed PDF · View the filing
Management attributed the slower pace to delayed insurance empanelments, expected to complete next quarter.
Answered by Management
Asked by Aditya Chheda: Why has Raipur occupancy been flat sequentially and what's the ramp-up outlook?
p. 10
“The performance could be much better, but there has been a delay in the insurance empanelment’s, which was expected.”
Management, page 10 of the filed PDF · View the filing
Management guided to EBITDA margin increasing by around 100 basis points as other hospitals improve, offsetting Jamshedpur's initial impact.
Answered by Management
Asked by Aditya Chheda: What is the EBITDA growth outlook for FY27 given Raipur breakeven and Jamshedpur losses?
p. 11
“So the impact of Jamshedpur shall be nullified, and we expect the EBITDA to move by around 100 basis points.”
Management, page 11 of the filed PDF · View the filing
Management said the guidance was not conservative given Raipur would only reach breakeven, not full profitability, in the year.
Answered by Management
Asked by Saumil Shah: Is the 100 bps EBITDA guidance conservative given ARPOB growth and Raipur breakeven?
p. 14
“I think 100 basis points increase after a setup of the initial loss of Raipur is not conservative.”
Management, page 14 of the filed PDF · View the filing
Management said there was a slight impact in the last quarter of FY26 and a further impact in Q1 of the new year.
Answered by Management
Asked by Abhishek Maheshwari: Were footfalls impacted by Bengal elections?
p. 10
“There was a slight bit of impact in the last quarter of FY26, but it was nothing very significant.”
Management, page 10 of the filed PDF · View the filing
Management said there is no real estate available to expand beds at the Calcutta hospitals, but Agartala has room once occupancy targets are reached.
Answered by Management
Asked by Dixit Doshi: Is there capacity to expand beds at the 4 mature hospitals?
p. 15
“Across the older hospitals, at this point, there is no real estate available to expand beds, especially in the Calcutta hospitals.”
Management, page 15 of the filed PDF · View the filing
Management said the scheme replacement is not expected to materially change scheme patient volumes or ARPOB.
Answered by Management
Asked by Dixit Doshi: Will the change in West Bengal government and Ayushman Bharat rollout affect ARPOB?
p. 15
“So we do not expect a lot of change with regards to the number of scheme patients we cater to.”
Management, page 15 of the filed PDF · View the filing
Management said cash and insurance make up 90% of revenue, split roughly 50-50, with corporate and scheme patients making up the remaining 10%.
Answered by Management
Asked by Deepak Ajmera: What is the patient mix between cash, insurance, corporate and scheme patients?
p. 16
“We have almost 90% of our revenues coming from cash and insurance patients only. Our corporate and scheme patients combined are giving us around 10% revenues, of which Corporate might be around 5% and 5% would be scheme patients of Ayushman Bharat, etcetera.”
Management, page 16 of the filed PDF · View the filing
Management said Bangladesh contribution had fallen from 10% to around 3% and is expected to recover.
Answered by Management
Asked by Deepak Ajmera: What proportion of Agartala patients come from Bangladesh?
p. 16
“The Bangladesh hospital -- Bangladesh would contribute around 10% of our volumes in Agartala earlier. At this point, it is down to around 3%.”
Management, page 16 of the filed PDF · View the filing
Risks flagged
New competing hospital capacity being added in Raipur market
p. 11
“Raipur has meaningful capacity addition in terms of local players coming in a few of the listed players are also coming in.”
Aditya Goel, page 11 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.