Healthcare Global Enterprises Limited (HCG) — Announcement | 10 August 2026

Healthcare Global Enterprises reported Q1 FY27 revenue of INR6,951 million, up 13% YoY, with adjusted EBITDA rising 20% to INR1,339 million and EBITDA margin expanding to 19.4% from 18.2%. Management highlighted 50%+ of centers now achieving 20%+ EBITDA margins, targeting 24-25% within 3-5 years through payor mix improvement and technology investments. Patient volume grew 11%, ARPOB aligned with inflation, and utilization improved sequentially. Marketing spend remains at 2.5-2.6% of revenue, while greenfield expansion in FY27 will drive EBITDA losses that are expected to decline in subsequent quarters. The company completed divestment of its fertility business and used INR170 crore of rights issue proceeds to repay debt, with plans to add 65 beds in FY27 and 520 beds by FY28 through a mix of brownfield and greenfield projects.