Manipal Health Enterprises – Q1 FY27

reported a strong Q1 FY27 performance, with revenue rising 38.1% YoY to ₹3,091 crore, while EBITDA increased 26.4% YoY to ₹749 crore. The results indicate continued strength in patient volumes, occupancy and demand for complex/specialty healthcare services. Reuters also reported that adjusted profit after tax rose nearly 31% YoY to ₹332 crore, supported by higher demand for complex procedures and improved hospital occupancy. Key financial highlights * Revenue: ₹3,091 crore, up 38.1% YoY. * EBITDA: ₹749 crore, up 26.4% YoY. * EBITDA margin: ~24.2%, versus roughly 26.5% in the year-ago period based on the reported growth rates. This suggests revenue growth was stronger than EBITDA growth, indicating some moderation in operating leverage. * Adjusted PAT: ~₹332 crore, up nearly 31% YoY. Operational performance remains the key driver: Manipal’s growth is being supported by rising patient throughput and increasing demand for high-value procedures. Its business has a significant presence across cardiac sciences, oncology, neurosciences, gastro sciences, orthopaedics and renal sciences. In FY26, these specialty areas together accounted for a substantial portion of revenue, with cardiac sciences being the largest specialty at around 16.8% of revenue. Capacity expansion provides a medium-term growth runway: The company operated 49 hospitals with 13,037 licensed beds in FY26, with about 6,878 operational beds. It has announced plans to invest around ₹4,000 crore to add 2,400 beds over the next 3–4 years, equivalent to an ~18% increase in its licensed-bed capacity. This should support revenue growth beyond the existing network as new facilities ramp up.