Global Health (MEDANTA) Q4 24/25 earnings summary

Executive summary

• Flagship hospital in Gurugram celebrated its 15th anniversary and was ranked India's best private hospital by Newsweek for the sixth consecutive year.

• Achieved 13% year-over-year revenue growth in FY2025, driven by increased patient volumes and network expansion.

• Added over 100 doctors, expanded clinical talent, and launched new labs, clinics, and pharmacies.

• Completed merger of Medanta Lucknow (MHPL) with Global Health Limited, incurring a one-time exceptional expense of INR 499 million.

• Announced three new greenfield hospitals in Mumbai, Pitampura, and Guwahati, with plans to add 1,000 beds in the next two years.

Financial highlights

• FY2025 consolidated income was INR 37,714 million, up 13% year-over-year; EBITDA reached INR 9,562 million (25.4% margin), up 9% year-over-year.

• Adjusted profit after tax was INR 5,186 million (13.8% margin), up 9% year-over-year; reported PAT was INR 4,813 million (12.8% margin).

• Q4 FY2025 income was INR 9,542 million, up 14% year-over-year; EBITDA was INR 2,476 million (26% margin), up 20% year-over-year.

• Net cash position of INR 8,123 million as of March 31, 2025.

• Board recommended first-ever dividend of 25% (INR 0.5 per share) for FY25.

Outlook and guidance

• Plans to add approximately 1,000 beds in the next two years and another 2,000 beds over the next three to four years, with over INR 3,500 crore capex planned over five years.

• Noida facility (550 beds) expected to be operational in Q2 FY2026; Ranchi 110-bed hospital to be operational in Q1 FY2026.

• Mumbai and Pitampura projects are in planning and regulatory approval stages, each with a three-year timeline.

• Focus on expanding clinical capabilities, digital health, and continuity of care.

• Selective, nominal tariff hikes planned, with ARPOB growth expected in the low to mid-single digits.