Prabhudas Lilladher has issued a buy rating on Global Health with a target price of ₹1,375 per share in its research report dated February 05, 2026. According to the broker's analysis, the recommendation is based on valuing the stock at 27x EV/EBITDA on FY28E projections.
Global Health delivered robust financial results in Q3 FY2026, with revenue growing 19% year-on-year to ₹1,121 crore compared to ₹943.4 crore in the previous year. As reported by multiple sources, the company demonstrated strong patient volume and ARPOB (Average Revenue Per Occupied Bed) growth during the quarter. However, net profit declined 33.5% to ₹95 crore from ₹142.9 crore in Q3 FY2025, primarily due to an exceptional loss of ₹36.5 crore and new hospital ramp-up costs. EBITDA margins remained robust excluding Noida operations, indicating the company's operational efficiency despite the profit impact.
Medanta's Q3FY26 EBITDA demonstrated 9% year-on-year growth, which was largely in line with expectations. As reported by Prabhudas Lilladher, the company's EBITDA growth over FY24-26E is likely to be moderate at 8% CAGR, primarily due to ongoing issues at the Lucknow unit and start-up losses related to the Noida unit in FY26. The healthcare provider maintains a total bed capacity of approximately 3,579 beds and plans to add around 2,800 beds over the next 4 years.
With the Lucknow unit issues largely resolved and expected ramp-up in Noida to be visible from Q2FY27E, Medanta's EBITDA is projected to achieve approximately 19% CAGR over FY26-28E. According to Prabhudas Lilladher's outlook, this growth trajectory is expected to support the company's expansion plans and operational improvements across its healthcare facilities. The company's strong financial metrics show revenue growth from ₹1,959.45 crore in 2023 to ₹3,204.15 crore in 2025, with net profit increasing from ₹263.25 crore to ₹461.53 crore over the same period.
