According to latest reports, Medanta delivered robust financial results in Q2FY27, demonstrating strong operational performance across key metrics. The healthcare provider's revenue from operations rose 33.6% to ₹1,469 crore year-on-year, driven by volume-led growth rather than significant pricing increases. Operating EBITDA surged 60.2% to ₹370 crore with margin improving to 25.2% from 21.0% in the previous year. PAT increased 38.3% to ₹219 crore, though this figure was aided by the absence of exceptional income that was included in Q2FY26. The company's ARPP remained measured at ₹2.06 lakh, up only 2.7%, indicating disciplined pricing strategy while occupancy improved to 67% despite a 17.2% higher census capacity.
The quarter demonstrated strong operational momentum with in-patient volumes rising 29.5% and OPD encounters increasing 37.9%, while occupied bed days were up 22.4%. As per the latest data, average length of stay fell to 2.89 days from 3.06 days, indicating improved operational efficiency. The company's Noida facility achieved EBITDA breakeven within one year, marking a significant milestone in the expansion strategy. International patient revenue rose 30.3% to ₹99.3 crore and OPD pharmacy revenue increased 52.9% to ₹69.9 crore, adding revenue streams around the same clinical infrastructure and patient base.
As reported, Medanta has announced an ambitious expansion plan to nearly double its network capacity to over 7,600 beds across six operating hospitals. The company added 74 beds during Q2 - 49 at Noida and 25 at Lucknow, taking H1 additions to 146 beds. With the recently approved 500-bed multi-specialty hospital in Ghaziabad requiring estimated project capex of ₹997 crore, the total planned expansion includes more than 3,450 beds across six greenfield projects in Mumbai, Pitampura, South Delhi, Guwahati and Varanasi. The Q2 investor presentation puts total planned capex at roughly ₹6,239 crore over the next four to five years, including maintenance and other growth expenditure.
According to the latest financial data, Medanta ended September with net cash of ₹781.5 crore and H1 operating cash flow of ₹567.8 crore. The EBITDA-to-cash-flow conversion stood at 86.4%, demonstrating strong cash generation capabilities. Capex during H1 was ₹338.5 crore, providing room to fund expansion initiatives. However, the company is entering another investment-heavy period with finance costs already increased and depreciation rising as new assets are commissioned. The balance sheet strength will be crucial as the company funds its expansion pipeline while maintaining operational efficiency.
