Yatharth Hospital & Trauma Care Services Limited (YATHARTH)
🎯 Key Takeaways
- Yatharth Hospital & Trauma Care Services Limited is in a high-growth phase, transitioning from a regional hospital operator to a scalable, cluster-based healthcare network with ambitions to reach 5,000+ beds by FY28. Management is executing a clear expansion strategy centered on new hospital launches, operational efficiency, and margin improvement, supported by strong top-line growth and early profitability in new facilities.
- Revenue grew 0.6% QoQ to ₹219 in Q3FY25.
- ⚠️ Execution risk in scaling new hospitals beyond current breakeven milestones, particularly in less mature markets like Agra and Jhansi.
📖 The Story
Yatharth Hospital & Trauma Care Services Limited is in a high-growth phase, transitioning from a regional hospital operator to a scalable, cluster-based healthcare network with ambitions to reach 5,000+ beds by FY28. Management is executing a clear expansion strategy centered on new hospital launches, operational efficiency, and margin improvement, supported by strong top-line growth and early profitability in new facilities.
📰 What's Happening
In its Q1 FY27 results filed on August 11, 2026, Yatharth reported record revenue of ₹3,927 crores (+51% YoY) and EBITDA of ₹917 crores (+39% YoY), with adjusted EBITDA margin expanding to 28.1%. New hospitals contributed 27% of revenue, and Faridabad Sector-20 achieved EBITDA breakeven in just nine months. The company launched its 2026 ESOP Scheme, declared its first interim dividend of 5%, and advanced key projects including Gurugram hospital construction, targeting operationalization by Q1 FY28. Occupancy reached 91%, and ARPOB rose to ₹35,000, driven by payer mix diversification and specialty services like oncology and robotics. Management emphasized a cluster-based expansion model across Noida Extension, Greater Noida, Agra, and Jhansi, with 15 hospitals now operational.
Source: Stock Announcements
📊 Quarterly Results (₹ Cr)
| Metric | Q1FY24 | Q2FY24 | Q3FY24 | Q4FY24 | Q1FY25 | Q2FY25 | Q3FY25 |
|---|---|---|---|---|---|---|---|
| Revenue | 155 | 171 | 167 | 178 | 212 | 218 | 219 |
| Operating Profit | 42 | 49 | 52 | 52 | 57 | 58 | 59 |
| OPM % | 26.8% | 26.6% | 27.8% | 26.2% | 25.3% | 25.1% | 25.1% |
| Net Profit | 19 | 28 | 29 | 38 | 30 | 31 | 30 |
| EPS | ₹2.91 | ₹3.80 | ₹3.83 | ₹4.85 | ₹3.54 | ₹3.59 | ₹3.57 |
Revenue growth has accelerated sharply, with YoY growth jumping from mid-teens in prior quarters to 51% in Q1 FY27, reflecting successful hospital ramp-ups and network expansion. Profitability trends show improving margins, with adjusted EBITDA margin holding at 28.1% despite scaling, indicating strong operational leverage. PAT growth moderated to 8% YoY in Q1 FY27, but this was from a much higher base, and margins remain resilient. The financial trajectory aligns closely with management's disclosed expansion milestones, including breakeven achievements in new hospitals ahead of schedule and occupancy rates nearing 90%.
🔮 Management Outlook & What's Next
Management expressed confidence in sustained growth through its cluster-based expansion strategy, targeting 5,000+ beds by FY28. Key upcoming milestones include the operationalization of Gurugram hospital by Q1 FY28 and continued rollout in Noida Extension, Greater Noida, Agra, and Jhansi. Management highlighted the validation of its acquisition playbook and long-term ARPOB targets of ₹50,000 across new hospitals. Specialty services and payer mix diversification are expected to drive further ARPOB growth, supporting margin expansion and pricing power in the medium term.
Extracted from official company announcements. Not StockFin.ai's opinion.
⚖️ Peer Comparison — Healthcare Services
| Company | MCap (₹ Cr) | P/E | ROCE | ROE | D/E |
|---|---|---|---|---|---|
| Apollo Hospitals Enterprise Limited | 1.16 L Cr | 64.5 | 20.5% | 21.9% | 0.64 |
| Max Healthcare Institute Limited | 1.02 L Cr | 101.2 | — | — | — |
| Fortis Healthcare Limited | 72,752 | 94.6 | — | — | — |
| Aster DM Healthcare Limited | 39,048 | 7.1 | — | — | — |
| Narayana Hrudayalaya Ltd. | 37,625 | 47.7 | — | — | — |
| Global Health Limited | 33,405 | 65.8 | — | — | — |
| Krishna Institute of Medical Sciences Limited | 30,477 | 80.3 | — | — | — |
| Dr. Lal Path Labs Ltd. | 26,871 | 63.6 | — | — | — |
| Syngene International Limited | 18,295 | 36.3 | — | — | — |
| Dr. Agarwal's Health Care Limited | 14,266 | 88.8 | 14.9% | 6.8% | 0.13 |
🔗 Peer Stock Analyses
⚠️ Risk Factors
1. Execution risk in scaling new hospitals beyond current breakeven milestones, particularly in less mature markets like Agra and Jhansi. 2. Margin pressure risks if occupancy or payer mix improvements stall amid rising competition or regulatory costs. 3. Regulatory and accreditation dependency — sustained JCI/NABH compliance is critical for premium pricing and payer mix growth. 4. Talent retention challenges as ESOP dilution looms without clear implementation timelines, potentially affecting operational continuity during expansion.
📋 Recent Filings
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Announcement 11 August 2026Yatharth Hospital & Trauma Care Services Limited announced that its Q1 FY27 earnings call was held on August 11, 2026 at 11:00 AM IST, with the audio ...
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🔴 Financial Results 11 August 2026Yatharth Hospital reported record Q1 FY27 revenue of **₹3,927 crores** (+51% YoY, +15% QoQ) and EBITDA of **₹917 crores** (+39% YoY, +15% QoQ), with a...
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Announcement 10 August 2026Yatharth Hospital & Trauma Care Services announced on August 10, 2026 that its Nomination and Remuneration Committee approved the grant of 250,000 emp...
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🔴 Financial Results 10 August 2026Yatharth Hospital & Trauma Care Services Limited reported record Q1FY27 revenue of **₹3,927 crores**, up 51% YoY and 15% QoQ, driven by new hospital r...
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🔴 Corporate Action 10 August 2026Yatharth Hospital announced a record date of August 14, 2026 for entitlement to the first interim dividend of Rs. 0.50 per share, representing a 5% pa...
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Announcement 10 August 2026Yatharth Hospital & Trauma Care Services Limited announced it will attend the Emkay Confluence 2026 investor conference on August 13, 2026, in Mumbai,...
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🔴 Financial Results 10 August 2026Yatharth Hospital reported record Q1 FY27 revenue of **₹3,927 crores** (+51% YoY, +15% QoQ) and EBITDA of **₹917 crores** (+39% YoY, +15% QoQ), with a...
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🟡 Board Meeting 10 August 2026Yatharth Hospital & Trauma Care Services Limited announced the outcome of its August 10, 2026 board meeting, approving unaudited Q1 FY27 financial res...
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🔴 Corporate Action 10 August 2026Yatharth Hospital declared a first interim dividend of Rs 0.50 per share (5% of face value) amounting to Rs 4.82 crore for FY 2026-27, with record dat...
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🔴 Financial Results 10 August 2026Yatharth Hospital & Trauma Care Services Limited announced its unaudited standalone financial results for Q1 FY2026, showing revenue of **₹1,896.38 cr...
🧠 Analyst's Read
Yatharth is transitioning into a scalable healthcare network with strong execution momentum, but investors should monitor the pace of hospital ramp-ups, margin sustainability, and ESOP dilution impact. The next catalyst will be the operationalization of Gurugram hospital by Q1 FY28 and progress toward the 5,000-bed target.
Based on filing content and financial data. Not a recommendation.
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Data sourced from stock announcements. Analysis generated by StockFin.ai.
For informational purposes only — not investment advice. Updated 2026-08-13.
Editorial & Data Transparency Notice
This analysis was programmatically compiled using StockFin AI utilizing official regulatory disclosures from the BSE and NSE. Content is automatically synthesized and audited against public financial filings. StockFin.ai is an educational research platform and is NOT a SEBI-registered investment advisor or research analyst.
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