Krishna Institute of Medical Sciences Ltd — Q1 FY27 earnings call
Summary generated by AI from the official transcript Krishna Institute of Medical Sciences Ltd filed with BSE on 08 Aug 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
KIMS Hospitals reported Q1 FY'27 total revenue of Rs 1,196 crore, up 36.1% year-on-year, with EBITDA of Rs 240 crore and PAT of Rs 37 crore. The company completed a Rs 1,500 crore QIP and a Rs 600 crore preferential allotment to promoters, using Rs 1,100 crore of proceeds to reduce debt. Management discussed the ramp-up trajectory of newly commissioned hospitals in Kondapur, Thane, Nashik and Bangalore, along with occupancy levels, ARPOB trends, and empanelment progress across clusters.
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
Total revenue: INR 1,196 crore (Q1 FY27)
p. 3
“Total revenue of INR 1,196 crore, a growth of 36.1% year-on-year and a 10.3% on quarter-onquarter basis.”
Bhaskar Rao Bollineni, page 3 of the filed PDF · View the filing
EBITDA: INR 240 crore (Q1 FY27)
p. 3
“EBITDA of INR 240 crore, a growth of 20.1% on year-on-year and 10.9% on quarter-on-quarter basis.”
Bhaskar Rao Bollineni, page 3 of the filed PDF · View the filing
EBITDA margin: 20.1% (Q1 FY27)
p. 3
“EBITDA margin at 20.1% versus 20.27% in Quarter 1 Financial Year '26 and 19.9% in Quarter 4 Financial Year '26.”
Bhaskar Rao Bollineni, page 3 of the filed PDF · View the filing
PAT: INR 37 crores (Q1 FY27)
p. 3
“PAT at INR 37 crores in Quarter 1, '27 against INR 85 crore and INR 33 crores in Q1 FY '26 and Q4 FY '26 respectively.”
Bhaskar Rao Bollineni, page 3 of the filed PDF · View the filing
Cash and cash equivalents: INR 505 crore (as on 30th June 2026)
p. 4
“Cash and cash equivalents includes cash, bank balance deposits with maturity less than 12 months and investment in mutual funds at INR 505 crore as on 30th June 2026.”
Bhaskar Rao Bollineni, page 4 of the filed PDF · View the filing
Consolidated revenue from operations: INR 1,180 crore (Q1 FY27)
p. 4
“Consolidated revenue from operations of INR 1,180 crore, a growth of 35.3% on year-on-year and a 9.8% on quarter-on-quarter basis.”
Bhaskar Rao Bollineni, page 4 of the filed PDF · View the filing
IP volumes: 72,493 (Q1 FY27)
p. 4
“IP volumes, 72,493 grew by 26.6% year-on-year and 14% on quarter-on-quarter basis.”
Bhaskar Rao Bollineni, page 4 of the filed PDF · View the filing
OP volumes: 6,58,617 (Q1 FY27)
p. 4
“OP volumes 6,58,617 grew by 28.5% year-on-year and 8% on quarter-on-quarter basis.”
Bhaskar Rao Bollineni, page 4 of the filed PDF · View the filing
QIP proceeds: INR 1,500 crores
p. 4
“The QIP successfully raised INR 1,500 crores and has oversubscribed, demonstrating the deep trust and confidence of institutional investors in the vision of your company.”
Bhaskar Rao Bollineni, page 4 of the filed PDF · View the filing
Debt repaid from QIP proceeds: INR 1,100 crores
p. 4
“In line with our commitment to financial prudence, INR 1,100 crores of these proceeds have already been utilized to reduce our debt.”
Bhaskar Rao Bollineni, page 4 of the filed PDF · View the filing
Preferential allotment to promoters: INR 600 crores
p. 4
“Furthermore, the preferential allotment to promoters stands at INR 600 crores.”
Bhaskar Rao Bollineni, page 4 of the filed PDF · View the filing
Debt position: INR 2,570 crore (as on 30th June)
p. 12
“So, as of 31st of March '26, at the start of the financial year, the debt position was INR 3,250 crore, which has reduced to INR 2,570 crore as on 30th June.”
Sachin Ashok Salvi, page 12 of the filed PDF · View the filing
Thane July revenue: INR 21 crore (July)
p. 11
“So if you actually look at July, Thane did INR 21 crore in revenue and 10% EBITDA margin.”
Abhinay Bollineni, page 11 of the filed PDF · View the filing
Kondapur July revenue: INR 45 crores (July)
p. 10
“We were usually doing around INR 32, INR 33 crores in Kondapur. July alone, we did INR 45 crores, and more doctors are yet to join.”
Abhinay Bollineni, page 10 of the filed PDF · View the filing
Minority interest: 10.5% (Q1 FY27)
p. 19
“So, as far as minority interest is concerned, for the current quarter, it is 10.5%.”
Sachin Ashok Salvi, page 19 of the filed PDF · View the filing
Total capital expenditure: INR 60-75 crore (last financial quarter)
p. 16
“So, our total capital expenditure which we did in the last financial quarter is about INR 60-75 crore.”
Sachin Ashok Salvi, page 16 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.
Kerala cluster EBITDA margin — 20%-22% · next two to three years
stated as an aspiration by Abhinay Bollineni
p. 7
“And it should stabilize at around 20%, 22% EBITDA margin over the next two to three years, as far as Kerala is concerned.”
Abhinay Bollineni, page 7 of the filed PDF · View the filing
Telangana occupancy — 70% · next three to four years
stated firmly by Abhinay Bollineni
p. 9
“70% is doable in spite of the new Kondapur hospital that got commissioned. Next three to four years, we will get there.”
Abhinay Bollineni, page 9 of the filed PDF · View the filing
Bangalore cluster EBITDA — zero EBITDA for the full year · FY27
stated as an aspiration by Abhinay Bollineni
p. 12
“Overall, as cluster, we are aiming for a Bangalore cluster to be zero EBITDA for the full year, with no losses.”
Abhinay Bollineni, page 12 of the filed PDF · View the filing
Bangalore and Maharashtra cluster growth — 15%-20%
stated as an aspiration by Abhinay Bollineni
p. 12
“I think both clusters we should look at a healthy 20% growth on a year-on-year basis, Rahul.”
Abhinay Bollineni, page 12 of the filed PDF · View the filing
ARPOB growth rate — 4% to 5%
stated firmly by Abhinay Bollineni
p. 15
“I think it is too aggressive. Four to five is a good number.”
Abhinay Bollineni, page 15 of the filed PDF · View the filing
Occupancy by FY30 — 65%, 70% · FY30
stated conditionally by Abhinay Bollineni
p. 15
“By FY '30, if we don't add any more bed capacity to the current hospitals, then it should be around 65%, 70%, if we don't add any more beds.”
Abhinay Bollineni, page 15 of the filed PDF · View the filing
EBITDA margin at higher occupancy — 30%
stated conditionally by Abhinay Bollineni
p. 15
“Yes. 30% we should be able to hit. Yes.”
Abhinay Bollineni, page 15 of the filed PDF · View the filing
Maintenance CAPEX — INR 100 crore per year · next three or four years
stated firmly by Sachin Ashok Salvi
p. 19
“So, maintenance CAPEX would be around INR 100 crore per year for the next, say, three or four years.”
Sachin Ashok Salvi, page 19 of the filed PDF · View the filing
Debt equity ratio — 2.5:1
stated firmly by Sachin Ashok Salvi
p. 19
“So, we intend to keep our debt equity in the range of 2.5:1.”
Sachin Ashok Salvi, page 19 of the filed PDF · View the filing
Kondapur revenue potential — around INR 100 crore revenue per month, around INR 1,200 crore revenue · next four, five years
stated as an aspiration by Abhinay Bollineni
p. 13
“The full potential of the hospital will be around INR 100 crore revenue per month, which is around INR 1,200 crore revenue.”
Abhinay Bollineni, page 13 of the filed PDF · View the filing
Kondapur EBITDA margin at scale — 30%-32%
stated as an aspiration by Abhinay Bollineni
p. 22
“So, to assume a good 30%-32% margin is good at an INR 1,200 crore kind of a revenue.”
Abhinay Bollineni, page 22 of the filed PDF · View the filing
Telangana EBITDA margin — 30% to 35%
stated as an aspiration by Abhinay Bollineni
p. 20
“It will continue to deliver anywhere between 30% to 35% kind of EBITDA.”
Abhinay Bollineni, page 20 of the filed PDF · View the filing
Insurance empanelment completion for new units — remaining 50% of insurance companies · end of August, mid-September
stated conditionally by Abhinay Bollineni
p. 10
“Most of these empanelments, these are big ones, the key ones, will be done by end of August, mid-September.”
Abhinay Bollineni, page 10 of the filed PDF · View the filing
Thane hospital breakeven — healthy EBITDA margin · Q2 FY27
stated conditionally by Abhinay Bollineni
p. 12
“Sorry, July. If the August, September trajectory continues similarly, it should be, yes, healthy EBITDA margin.”
Abhinay Bollineni, page 12 of the filed PDF · View the filing
New hospital expansion focus — stabilizing current hospitals before new greenfield · next eight months or next three quarters
stated firmly by Abhinay Bollineni
p. 8
“Next eight months or next three quarters, we will first focus on stabilizing the current hospitals that we commissioned, and maybe next year we will come up with more greenfield opportunities.”
Abhinay Bollineni, page 8 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.
Focus on ramping up Kondapur, launching Thrissur, and reaching EBITDA neutrality across recently commissioned hospitals.
Answered by Abhinay Bollineni
Asked by Sucrit D Patil: What are the top execution priorities for the next few quarters?
p. 6
“Yes, I think this financial year, a lot of focus is on the new Kondapur Hospital, which just got commissioned last month. The first month has been very promising. We grew by almost 40% in less than a month.”
Abhinay Bollineni, page 6 of the filed PDF · View the filing
Debt risk has been mitigated via QIP proceeds, government receivables have improved, and new unit ramp-up is critical to managing financial risk.
Answered by Sachin Ashok Salvi
Asked by Sucrit D Patil: What financial risks does management anticipate and how are they being managed?
p. 6
“So, as far as risk are concerned, some of the measures we have already taken care of. We have already launched a QIPO, using the QIPO proceeds, we have repaid the secured loans.”
Sachin Ashok Salvi, page 6 of the filed PDF · View the filing
Kerala margins are currently single-digit, expected to reach mid-teens next year and stabilize at 20-22% over two to three years.
Answered by Abhinay Bollineni
Asked by Sandhya: What is the outlook on Kerala unit costs and margin trajectory?
p. 7
“I think right now we are looking at single-digit EBITDA margins. Maybe through the year it will continue similarly, but next financial year, we should move to mid-teens kind of a number.”
Abhinay Bollineni, page 7 of the filed PDF · View the filing
Priority is to stabilize commissioned hospitals first, with continued greenfield opportunities in core markets.
Answered by Abhinay Bollineni
Asked by Damayanti Kerai: Is KIMS done with its expansion CAPEX, or are there more growth opportunities?
p. 8
“Like we mentioned earlier, our priority today is to ensure that all hospitals that we commissioned turn EBITDA positive and reach a high single-digit or low double-digit kind of an EBITDA margin.”
Abhinay Bollineni, page 8 of the filed PDF · View the filing
Bed count includes non-operational demolished beds; once the new Secunderabad facility is ready, occupancy can rise significantly.
Answered by Abhinay Bollineni
Asked by Damayanti Kerai: Why is Telangana occupancy hovering at 50-52%, and can it move higher?
p. 9
“Right now we have not operationalized those beds. But when the new facility gets ready by end of next year, and when we operationalize, then the ramp-up will continue to happen.”
Abhinay Bollineni, page 9 of the filed PDF · View the filing
Marginal losses from preoperative costs of about Rs 1.5-2 crore a month, with the old facility still running for about six more months causing some drag.
Answered by Abhinay Bollineni
Asked by Karan Bora: What were the losses at the new Kondapur unit and how were margins maintained?
p. 10
“But July, which was the first full month of Kondapur being operational, the ramp-up is being quite strong. So, we are not anticipating much losses.”
Abhinay Bollineni, page 10 of the filed PDF · View the filing
Empanelment delays affected Q1, but GIPSA and tumor empanelments came through in May-June, and July showed strong improvement.
Answered by Abhinay Bollineni
Asked by Rahul Jeewani: Why has Thane's EBITDA loss trajectory flattened compared to other new hospitals?
p. 11
“So, there is nothing significantly alarming, Rahul, as far as Thane is concerned. So, traditionally for Maharashtra, at least for our experience in Nashik, Nagpur and Sangli, first quarter is usually a weak quarter, number one.”
Abhinay Bollineni, page 11 of the filed PDF · View the filing
South India doctors align more easily with full-time hospital practice models, while Maharashtra doctors take longer to transition from independent practices.
Answered by Abhinay Bollineni
Asked by Kunal Randeria: Why has Mahadevapura ramped up faster than Thane?
p. 13
“One key difference between Maharashtra and South is, I think the South ideology of full-time practice is lot more easier to get aligned with doctors.”
Abhinay Bollineni, page 13 of the filed PDF · View the filing
Excluding recently added and under-renovation beds, current occupancy is already around 61-65%.
Answered by Abhinay Bollineni
Asked by Saurabh Kumar: When will capacity utilization return to 55-60%+ levels seen previously?
p. 15
“Actually, in the bed capacity, in the 2,669 beds, if you remove the 450 beds of Kondapur, 500 beds of Kondapur that just got added, and if you remove 200 beds in Secunderabad, which are under renovation, and look at the occupied beds as a percentage of the remaining beds, it is already at 65% kind of an occupancy.”
Abhinay Bollineni, page 15 of the filed PDF · View the filing
June was the breakeven month; the full quarter shows a loss due to earlier months, but the trend is now positive.
Answered by Sreenath Reddy
Asked by Simran Thakkar: Has Mahadevapura already achieved EBITDA breakeven despite a reported quarterly loss?
p. 16
“Yes. See, it is one of the months, right? For the quarter, it will be a loss, EBITDA loss. But in the month of June is where we had the breakeven.”
Sreenath Reddy, page 16 of the filed PDF · View the filing
These are O&M and call-option agreements for two hospitals in Telangana and Andhra with defined revenue potential.
Answered by Abhinay Bollineni
Asked by Simran Thakkar: Can you detail the O&M agreements with Golden Lan Solutions and Sarvottam Healthcare?
p. 16
“That is a 300-bedded hospital very close to the new Kondapur hospital that we commissioned, around 3-4 kilometers, with a revenue potential of INR 90 crores-INR 95 crores a month.”
Abhinay Bollineni, page 16 of the filed PDF · View the filing
New bed capacity additions will take time to mature before margins return to the higher historical range.
Answered by Abhinay Bollineni
Asked by Alankar Garude: Why does management guide 30% margins for Telangana versus a past peak of 35%?
p. 20
“Now that we are adding a lot of bed capacity, it will take some time for us to get to that number with new Kondapur, Secunderabad, some greenfield opportunities, some acquisition opportunities.”
Abhinay Bollineni, page 20 of the filed PDF · View the filing
Internal accruals will most likely be deployed toward greenfield and brownfield expansion rather than further debt reduction.
Answered by Abhinay Bollineni
Asked by Saurabh Kumar: How much of future operating cash flow will go toward debt reduction versus growth CAPEX?
p. 19
“Most likely it will get invested for greenfield and brownfield growth.”
Abhinay Bollineni, page 19 of the filed PDF · View the filing
Risks flagged
Government receivables have been a challenge historically
p. 6
“As far as the receivables are concerned, yes, the government receivables were a challenge, but we have seen a positive trend in that side.”
Sachin Ashok Salvi, page 6 of the filed PDF · View the filing
Ramp-up pace of newer units affects financial strength
p. 7
“For the newer units, the ramp-up is very important. It all depends upon how quickly we ramp up in the newer units to mitigate the risks which are associated with the financial strength of the company.”
Sachin Ashok Salvi, page 7 of the filed PDF · View the filing
Insurance empanelment delays for new hospitals
p. 7
“We have had some glitches in terms of insurance and empanelment and stuff.”
Abhinay Bollineni, page 7 of the filed PDF · View the filing
Old Kondapur facility rental and operating costs remain a drag until closure
p. 10
“So, that could be the drag. Only the rental costs and some operating costs of the old hospitals will be some drag.”
Abhinay Bollineni, page 10 of the filed PDF · View the filing
Doctor alignment in Maharashtra market is slower than in South India
p. 14
“But we are aware that it will be a little slow when compared to any other hospital in South, because in South it is easier to get clinical talent.”
Abhinay Bollineni, page 14 of the filed PDF · View the filing
Acquisition and greenfield timelines are uncertain and depend on sellers
p. 20
“Difficult to say, Alankar, because these are not in our control. As and when the transaction is announced, the closure dates are more dependent on what the seller wants to do.”
Abhinay Bollineni, page 20 of the filed PDF · View the filing
Uncertainty around common empanelment initiative outcomes
p. 21
“I think last year, unfortunately, was a bad year because it coincided exactly with when JIC announced this common council and when we commissioned a lot of hospitals.”
Abhinay Bollineni, page 21 of the filed PDF · View the filing
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