Yatharth Hospital & Trauma Care Services Ltd — Q1 FY27 earnings call
Summary generated by AI from the official transcript Yatharth Hospital & Trauma Care Services Ltd filed with BSE on 18 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
Yatharth Hospitals reported its highest-ever quarterly revenue and profit for Q1 FY27, with revenue growing 51% year-on-year and EBITDA growing 39% year-on-year. Management attributed the growth to the ramp-up of newer hospitals in Greater Faridabad, New Delhi and Agra, which together contributed 27% of revenue, alongside improving occupancy and ARPOB across the network. The Board approved a maiden interim dividend of 5% of face value and a new ESOP scheme for employees.
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: INR3,927 million (Q1 FY27)
p. 5
“The group reported its highest ever quarterly revenue of INR3,927 million, up 51% year-over-year and 15% quarter-over-quarter.”
Pankaj Prabhakar, page 5 of the filed PDF · View the filing
EBITDA: INR917 million (Q1 FY27)
p. 5
“EBITDA for the quarter was highest ever at INR917 million with PAT stood at INR454 million, while the consolidated EBITDA stood at 23.3%, the adjusted EBITDA margin, excluding the impact of New Delhi and Faridabad Sector 20 stood at 28.1%.”
Pankaj Prabhakar, page 5 of the filed PDF · View the filing
PAT: INR454 million (Q1 FY27)
p. 5
“EBITDA for the quarter was highest ever at INR917 million with PAT stood at INR454 million, while the consolidated EBITDA stood at 23.3%, the adjusted EBITDA margin, excluding the impact of New Delhi and Faridabad Sector 20 stood at 28.1%.”
Pankaj Prabhakar, page 5 of the filed PDF · View the filing
Group ARPOB: INR34,758 (Q1 FY27)
p. 5
“The group's ARPOB reached an all-time high of INR34,758 in quarter 1, up 7% year-on-year.”
Pankaj Prabhakar, page 5 of the filed PDF · View the filing
Existing hospital occupancy: approximately 75% (Q1 FY27)
p. 5
“Our existing hospital occupancy reached approximately 75% as inpatient volume improved 15% year-over-year.”
Pankaj Prabhakar, page 5 of the filed PDF · View the filing
Newer hospitals revenue contribution: INR1,067 million, 27% of group revenue (Q1 FY27)
p. 5
“The newer hospital at Greater Faridabad, New Delhi, Faridabad Sector 20 and Agra collectively contributed INR1,067 million in revenue, accounting for 27% to the group's revenue.”
Pankaj Prabhakar, page 5 of the filed PDF · View the filing
Cash profit growth: 32% year-on-year (Q1 FY27)
p. 6
“despite which our cash profit, which is PAT plus depreciation increased significantly by 32% year-on-year, largely reflecting a noncash impact on the PAT growth.”
Pankaj Prabhakar, page 6 of the filed PDF · View the filing
Attrition rate: 7% overall
p. 15
“So, we have attrition rate of nearly 7% overall at a group level.”
Nitin Gupta, page 15 of the filed PDF · View the filing
Debt: around INR300 crores
p. 18
“If you see that we have a debt in our books in March of nearly around INR210 crores which is now being increased to around INR300 crores.”
Nitin Gupta, page 18 of the filed PDF · View the filing
Depreciation: around INR29 crores per quarter (FY27)
p. 19
“the trend we are projecting right now is around INR29 crores for a quarter.”
Sonu Goyal, page 19 of the filed PDF · View the filing
Interest cost: INR6.6 crores (Q1 FY27)
p. 19
“This quarter we have reported around INR6.6 crores.”
Sonu Goyal, page 19 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.
EBITDA margin — upwards of 24% · FY27
stated firmly by Yatharth Tyagi
p. 9
“I think the company is on track close to upwards of 24% EBITDA margin for the full FY27 is concerned.”
Yatharth Tyagi, page 9 of the filed PDF · View the filing
ARPOB growth — 9% to 10% · FY27
stated firmly by Yatharth Tyagi
p. 9
“I think 9% to 10% is the right estimation to be taken.”
Yatharth Tyagi, page 9 of the filed PDF · View the filing
Gurugram hospital launch — 250 beds live · Q1 of next fiscal
stated firmly by Yatharth Tyagi
p. 4
“The Gurugram construction is progressing as per expectations and we expect the hospital to go live by quarter 1 of the next fiscal with a potential to achieve an ARPOB of INR50,000 plus.”
Yatharth Tyagi, page 4 of the filed PDF · View the filing
Model Town Hospital breakeven — operational breakeven · Q3-Q4 this year
stated conditionally by Yatharth Tyagi
p. 11
“Model town, we are expecting it to break even, somewhere around, between Q3, Q4 this year, so that will also reduce the drag on EBITDA.”
Yatharth Tyagi, page 11 of the filed PDF · View the filing
New hospital EBITDA margin — upwards of 25%, around 27% · within two years
stated as an aspiration by Yatharth Tyagi
p. 16
“Yes, so I think within two years from today, I think new hospitals should be even upwards of 25% of EBITDA margin, somewhere around 27%, just like our existing mature units.”
Yatharth Tyagi, page 16 of the filed PDF · View the filing
Capex per bed — INR75 lakhs to INR80 lakhs · for the next 1800 beds
stated firmly by Yatharth Tyagi
p. 18
“I think the capex per bed should be around INR75 lakhs to INR80 lakhs capex per bed, which includes the greenfield, the brownfield, the acquisitions.”
Yatharth Tyagi, page 18 of the filed PDF · View the filing
Brownfield capacity in Noida cluster — around 450 beds · 15 to 18 months
stated conditionally by Yatharth Tyagi
p. 19
“We feel, as mentioned earlier in the fall, somewhere around 15 to 18 months in the capacity will start coming live for the Brownfield capacity expansion.”
Yatharth Tyagi, page 19 of the filed PDF · View the filing
New hospital acquisitions — one new asset · this financial year
stated as an aspiration by Yatharth Tyagi
p. 17
“We have always said in the past that we like to add one new hospital at least each year. So, on that basis, I think this financial year should see an addition of one new asset.”
Yatharth Tyagi, page 17 of the filed PDF · View the filing
Debt level — around 2x trailing 12-month EBITDA
stated as an aspiration by Yatharth Tyagi
p. 18
“we still have long room to take that I think somewhere around you know 2x of the trailing last 12 months EBITDA at a group level.”
Yatharth Tyagi, page 18 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 said the company is on track for its revenue, EBITDA and PAT guidance and expects to surpass last year's 37% growth.
Answered by Yatharth Tyagi
Asked by Nishita: What revenue growth can be expected for FY27 and can the earlier guidance be reiterated?
p. 9
“I think we have said that last year, we grew 37% Y-o-Y. As you can clearly see this year, we will easily surpass that growth even the EBITDA is concerned.”
Yatharth Tyagi, page 9 of the filed PDF · View the filing
Management explained Faridabad Sector 20 has broken even but still drags margin, Model Town is expected to break even in Q3/Q4, and both should reach 15-20% EBITDA margin about 15-18 months after breakeven, with Gurugram's launch continuing to create a new drag.
Answered by Yatharth Tyagi
Asked by Ashish T: When will new assets stop dragging on EBITDA margin and margins return to 26-27%?
p. 11
“Both these 2 hospitals, from here, we are targeting, let's say, around 15 months, once they get breakeven, the EBITDA there could be somewhere around 15% to 20%.”
Yatharth Tyagi, page 11 of the filed PDF · View the filing
Management said volumes have not increased but a CGHS price revision added about 1-2% to the government revenue share while volumes continue to decline quarter-on-quarter.
Answered by Yatharth Tyagi
Asked by Satyam Kumar: Has the government payer mix increased versus last quarter's 36%?
p. 13
“So, the volume has not increased. I think the impact is 1-2% of the price revision of the CGHS rate that the government did recently.”
Yatharth Tyagi, page 13 of the filed PDF · View the filing
Management attributed the decline to higher interest costs from the Gurgaon acquisition and construction, oncology machine orders, and increased bank debt since FY26, expecting stabilization going forward.
Answered by Yatharth Tyagi
Asked by Satyam Kumar: Why have PAT margins declined sharply this quarter?
p. 13
“So, I think it's because we have done certain high capex over last few months as far as the acquisition of Gurgaon and the construction is going on.”
Yatharth Tyagi, page 13 of the filed PDF · View the filing
Management clarified there was never a guidance for consolidated EBITDA margin to reach 28%, targeting upwards of 24% this year with modest expansion in future years due to continued new hospital additions.
Answered by Yatharth Tyagi
Asked by Vedant Kabra: When will consolidated EBITDA margins return to 28%?
p. 14
“I think there has never been a guidance for us at the consolidated level the FY margins to be, EBITDA margins to be 28% because as we earlier mentioned that we'll continue to add new hospitals.”
Yatharth Tyagi, page 14 of the filed PDF · View the filing
Management estimated incremental EBITDA margin of around 22-23% as occupancy scales up.
Answered by Sonu Goyal
Asked by Vedant Kabra: What incremental EBITDA margin does Faridabad Sector 20 carry as occupancy rises to a mature 70%?
p. 15
“incremental EBITDA, let's say we talk about the 70% occupancy, incremental EBITDA will be around 22% to 23% EBITDA.”
Sonu Goyal, page 15 of the filed PDF · View the filing
Management said it is too early to comment, noting government has historically supported private hospital growth despite past price caps on stents and implants.
Answered by Amit Kumar Singh
Asked by Ashish T: How does management view the panel recommendation to cap hospital room charges to 3-star hotel levels?
p. 11
“As of now, there's no comment, but see, price increase -- there are various regions and various factors on the price increase there.”
Amit Kumar Singh, page 11 of the filed PDF · View the filing
Management attributed the increase entirely to a 2% quarter-on-quarter rise in doctor/specialist costs.
Answered by Sonu Goyal
Asked by Vicky Wagwani: Why have other expenses as a percentage of sales increased despite lower gross margin costs?
p. 20
“So, you're discussing for the Q1. So, if you see, our doctor cost has been increased by 2%.”
Sonu Goyal, page 20 of the filed PDF · View the filing
Risks flagged
Regulatory recommendation to cap hospital room charges could affect pricing.
p. 11
“So, as of now, there's no comment, but see, price increase -- there are various regions and various factors on the price increase there.”
Amit Kumar Singh, page 11 of the filed PDF · View the filing
New hospitals continue to drag consolidated EBITDA margin until they reach breakeven and maturity.
p. 11
“So, in 15 months, Gurgaon will also be live. So, I think the EBITDA drag from these 2 hospitals will shift to Gurgaon as well as certain other acquisitions that we do going on.”
Yatharth Tyagi, page 11 of the filed PDF · View the filing
Rising interest and depreciation costs from recent capex pressuring PAT margin.
p. 13
“So, I think it's because we have done certain high capex over last few months as far as the acquisition of Gurgaon and the construction is going on. Also, we have recently ordered for oncology machines for both Faridabad and Model Town.”
Yatharth Tyagi, page 13 of the filed PDF · View the filing
Monsoon rains delaying brownfield construction progress.
p. 19
“As you can understand, in Delhi NCR, monsoons are happening right now. So, the construction is just a bit delayed due to the rains.”
Yatharth Tyagi, page 19 of the filed PDF · View the filing
Doctor attrition and movement within the NCR market.
p. 15
“yes there is certain movement of doctors especially within the NCR which is happening but in terms of the total number within a unit of the hospital that's very less that moves”
Nitin Gupta, page 15 of the filed PDF · View the filing
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