Conference Call with Max Healthcare Institute Management and Analysts on Q1FY26 Performance and Outlook. Listen to the full earnings transcript.
Healthcare Facilities company Max Healthcare Institute announced Q1FY26 results Gross Revenue stood at Rs 2,574 crore for Q1FY26, a growth of 27% YoY and 6% QoQ. Network Operating EBITDA stood at Rs 613 crore in Q1FY26, a growth of 23% YoY. Operating Margin stood at 24.9% compared to 25.8% in Q1FY25 and 27.2% in Q4FY25. PAT stood at Rs 345 crore in Q1FY26, up 17%, compared to Rs 295 crore in Q1FY25 and Rs 376 crore in Q4FY25. Free Cash from Operations was Rs 389 crore in Q1FY26 compared with Rs 258 crore in Q1FY25 and Rs 422 crore in Q4 FY25. EBITDA per bed was Rs 68.5 lakh compared to Rs 70.0 lakh in Q1FY25 and Rs 73.9 lakh in Q4FY25. Bed occupancy for the quarter was at 76%, with Occupied Bed Days (OBDs) up by +26% YoY. ARPOB for Q1FY26 stood at Rs 78.0k compared to Rs 77.1k in Q1FY25 and Q4FY25. Free treatment was provided to 39,219 patients in OPD and 1,501 patients in IPD from the economically weaker sections. On August 13, 2025, the Board of Directors of the Company has approved the execution of an agreement to lease for a built-to-suit 130-bed hospital in Dehradun. Jaypee Healthcare Limited, a WoS of the Company, has executed a Binding Term Sheet for the divestment of Chitta (Bulandshahr) and Anoopshahr hospitals consistent with its strategic focus on super-speciality healthcare in larger cities. ~160 beds new tower at Max Mohali is complete, and the company has initiated trial runs in July. Abhay Soi, Chairman & Managing Director, Max Healthcare Institute, said: “Our sustained growth is a reflection of our strategy and execution capabilities. The commissioning of the 160-bed brownfield tower at Max Mohali, along with additional brownfield capacities coming online at Max Smart and Nanavati-Max shortly, will significantly enhance the clinical and financial performance of the Network. In parallel, we are scaling up our clinical and support teams, while optimising our service mix to ensure rapid and effective utilisation of the new capacities.” Result PDF