Global Health Limited — Investor Meet, 21-05-2025: Analysts/Institutional Investor Meet/Con. Call Updates

Global Health (Medanta) reported FY25 consolidated revenue of INR 377.14 Cr (+13% YoY), EBITDA of INR 95.62 Cr (+9%, 25.4% margin), and adjusted PAT of INR 51.86 Cr (+9%, 13.8% margin) despite merger costs. Q4 saw revenue growth of 14%, EBITDA up 20% with margin expansion, and PAT at 10.14 Cr. Added 219 beds (7.8% growth) with occupancy at 62% and volume growth of 10-12%. Mature hospitals posted 11% revenue growth with 25% EBITDA margin; developing centers grew 10% revenue with 30% margin but saw 4% ARPOB decline due to more scheme patients.

Clinical advances include CAR-T therapies and robotic surgeries; over 100 doctors joined. Expansion plans target ~1,000 beds in two years, including Noida (opening Q2 FY26), Mumbai, Pitampura, and Guwahati (400 beds, INR ~500 Cr capex). Total capex guidance is ~INR 4,000 Cr over 3-4 years.

Management is optimistic about volume growth and sees sector competition as positive for access. Lucknow operations stabilize with margin improvement; Noida expected to ramp up steadily. Net cash surplus of INR 81.23 Cr supports expansions.