Global Health has received buy ratings from both Prabhudas Lilladher and Anand Rathi with target prices of ₹1,400 and ₹1,450 respectively. According to Prabhudas Lilladher's research report dated May 18, 2026, the recommendation is based on the company's strong operational performance and growth prospects in the healthcare sector. Anand Rathi's report dated May 19, 2026 maintains a buy rating with a revised target price of ₹1,400, valuing the stock at 26x FY28E EV/EBITDA.
Global Health delivered exceptional Q4FY26 results, beating estimates by 9/12/33% with 25/9/42% year-on-year surge in Revenue/EBITDA/PAT. As reported by Anand Rathi, the company achieved 5% year-on-year increase in ARPOB to ₹66,687 while maintaining stable overall occupancy at 61% compared to 61.2% in Q4FY25. However, occupancy at Lucknow, Patna and new Noida units fell to 44% versus 62% in Q3FY26 due to recent commencement of the Noida unit, which was inaugurated in November 2025 with approximately 100 ICU beds and 14 OTs.
The company added 623 beds in FY26 across multiple locations, with 382 beds in Noida, 131 in Patna, and 110 in Ranchi - newly added units. According to Anand Rathi's analysis, the company currently operates with a total bed capacity of approximately 3,665 beds. The margin of new units (excluding Noida) expanded by 220 basis points year-on-year to 32.4% during the quarter, indicating improved operational efficiency. Prabhudas Lilladher notes the company has outlined plans to add 3,190 beds over the next 3-4 years.
Looking ahead, Anand Rathi expects Global Health's revenue, EBITDA, and PAT to achieve 15/24/18% CAGR over FY26-28E. Prabhudas Lilladher expects the company's EBITDA to achieve approximately 24% CAGR over FY26-28E with the Lucknow unit issues largely resolved and Noida unit ramp-up becoming visible from Q2FY27E. The brokerage has increased its FY27 and FY28E EBITDA estimates by 6% while maintaining the buy rating, valuing the stock at 27x EV/EBITDA on FY28E.
