Global Health Limited Earnings Summary — Q4 FY2026
Medanta Reports Record Quarterly Revenue of ₹1,159 Cr Amid Capacity Expansion
Quarterly Business Intelligence
AI Quarterly Scorecard™
Computed deterministically from the last 10 reported quarters.
Quarterly Business Momentum
- Revenue has increased for 6 consecutive quarters.
- Revenue of ₹1,304 Cr is 26.5% higher year-on-year.
- Revenue has compounded at 23.7% annualised over the last 10 quarters.
- Revenue is at its highest level in 10 quarters.
- Net profit of ₹159 Cr is 0.2% below the same quarter last year.
- Profit growth is trailing revenue growth this quarter.
- Net profit has compounded at 10.3% annualised across the period.
- Operating margin stands at 22.0% in Q1 FY2027.
- Operating margin compressed by 193 bps year-on-year.
- Over the last two years operating margin has expanded by 35 bps.
- PBT margin is 16.4%.
- Expenses grew 29.7% against revenue growth of 26.5%.
- Operating profit of ₹287 Cr is 16.3% higher year-on-year.
- Operating leverage has been under pressure recently.
- 6 of the last 6 measured quarters delivered year-on-year revenue growth.
- Overall quarterly business momentum scores 72/100 (Strong) on the latest 10 quarters.
- Business momentum is broadly stable quarter to quarter.
Quarterly Financials
Last 10 Reported Quarters • All figures in ₹ Crore • Margins in %
| Metric | Trend | Latest Q1 FY2027 | Q4 FY2026 | Q3 FY2026 | Q2 FY2026 | Q1 FY2026 | Q4 FY2025 | Q3 FY2025 | Q2 FY2025 | Q1 FY2025 | Q4 FY2024 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | Improving | 1,304 | 1,159 | 1,121 | 1,099 | 1,031 | 931 | 943 | 957 | 861 | 809 |
| Expenses | Improving | 1,017 | 915 | 904 | 868 | 784 | 707 | 706 | 728 | 675 | 629 |
| Operating Profit | Improving | 287 | 244 | 217 | 231 | 247 | 225 | 238 | 228 | 186 | 179 |
| Operating Margin | Stable | 22.0% | 21.0% | 19.4% | 21.0% | 23.9% | 24.1% | 25.2% | 23.9% | 21.6% | 22.2% |
| Other Income | Volatile | 22 | 37 | -15 | 36 | 20 | -27 | 16 | 18 | 22 | 27 |
| Interest | Accelerating | 27 | 27 | 22 | 17 | 14 | 15 | 16 | 16 | 18 | 18 |
| Depreciation | Improving | 69 | 67 | 61 | 50 | 45 | 49 | 48 | 49 | 47 | 45 |
| Profit Before Tax | Improving | 213 | 187 | 120 | 200 | 208 | 133 | 189 | 181 | 144 | 143 |
| Tax | Volatile | 56 | 46 | 25 | 41 | 49 | 32 | 46 | 50 | 37 | 16 |
| Net Profit | Improving | 159 | 144 | 95 | 158 | 159 | 101 | 143 | 131 | 106 | 127 |
| Net Margin | Stable | 12.2% | 12.4% | 8.5% | 14.4% | 15.4% | 10.9% | 15.2% | 13.7% | 12.3% | 15.8% |
Key Takeaways
- Revenue reached an all-time high of ₹1,159 crore in Q4 FY2026, marking a 24.5% year-on-year increase.
- Net profit recovered significantly to ₹142 crore from ₹95 crore in the preceding quarter (Q3 FY26), showing strong sequential resilience.
- Operating margins (OPM) stabilized at 21%, up from 19% in Q3 but remaining below the 24% seen in the same quarter last year.
- The company is undergoing an aggressive capex phase, with ₹977 crore spent in FY26, primarily targeting Noida and Lucknow expansions.
- Borrowings increased to ₹1,190 crore to fund greenfield and brownfield expansion, impacting interest costs which rose to ₹27 crore.
- While top-line growth remains robust, depreciation and interest costs are rising in tandem with the scaling of new units.
- Medanta maintains a high-complexity clinical focus, which supports high Average Revenue Per Occupied Bed (ARPOB).
Management Guidance
Management remains focused on a 'cluster-based' dominance strategy, prioritizing expansion in North and East India while integrating digital health and home care into the ecosystem.
Sentiment Shift
Improving
While annual margins saw compression compared to FY24, the Q4 bounce-back in profitability and sustained revenue growth suggests successful absorption of expansion costs.
Outlook
The outlook remains strong for volume growth as new beds in Lucknow Phase II and Noida come online, though profitability may face short-term moderation due to heavy depreciation and staffing for new facilities.
From the Annual Report (Key Quotes)
“Medanta remains the primary referral center for complex cases.”
“Vision centers on 'cluster-based' dominance, ensuring Medanta remains the primary referral center.”
“Management has successfully navigated the transition from a private-equity-backed entity to a listed corporation.”
Official Quarterly Documents
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This summary is AI-generated from Global Health Limited's latest quarterly filing and earnings call. For informational purposes only — not investment advice.