Yatharth Hospital & Trauma Care Services Limited
BSE: 543950 | NSE: YATHARTH
Sector: Healthcare | Industry: Hospital
01
ABOUT COMPANY
Yatharth Hospital & Trauma Care Services Limited (hereafter referred to as ‘Yatharth’ or ‘the Company’) was incorporated on February 28, 2008 in Delhi NCR by Dr. Ajay Kumar Tyagi and Dr. Kapil Kumar and converted into a public company on November 18, 2021, according to RoC.
Yatharth started its journey with single facility in the Delhi NCR region and has since evolved into a prominent healthcare network in North India. The company is running a chain of multi speciality hospitals which offers various services including oncology, cardiac sciences, neurosciences, renal care and more. The company is strategically focused on high density micro market in North India – National Capital Region (NCR) and the Jhansi–Orchha region – which allows the company to leverage strong brand recall, established clinician networks and referral channels.
Yatharth generates revenue broadly in 3 ways, i.e. healthcare services, pharmaceutical supplies and consultation fees.
| Particulars | FY 25 |
|---|---|
| Enterprise Value (₹ Crore) | 3,356 |
| EV/EBITDA | 15 |
| P/E | 29 |
| Revenue Growth % YoY | 31.3% |
| Gross Margin | 79.7% |
| EBITDA Margin | 25.0% |
| Net Margin | 14.8% |
Overview
| Metric | Greater Noida | Noida | Noida Extension | Jhansi – Orchha | Greater Faridabad |
| Year of Operation | 2010 | 2013 | 2019 | 2022 | 2024 |
| Beds Capacity | 400 | 250 | 450 | 305 | 200 |
| Census Beds | 330 | 215 | 390 | 250 | 180 |
| No. of ICU Beds | 112 | 81 | 125 | 76 | 61 |
| Occupancy Rate | 65% | 79% | 60% | 50% | 38% |
| ARPOB (₹) | 34,605 | 29,238 | 38,033 | 13,218 | 30,721 |
| ALOS (Days) | 4.42 | 4.84 | 4.26 | 3.95 | 3.72 |
| State Name | Location | Launch Year | Capacity Beds | Status |
| Uttar Pradesh | Greater Noida | 2010 | 400 beds | Operationalised |
| Noida | 2013 | 250 beds | Operationalised | |
| Noida Extension | 2019 | 450 beds | Operationalised | |
| Jhansi-Orchha | 2022 | 305 beds | Operationalised | |
| Agra | 2026 | 250 beds | Operationalised | |
| Haryana | Gr. Faridabad | 2024 | 200 beds | Operationalised |
| Faridabad | 2025 | 400 beds | Operationalised | |
| Delhi | Model Town, Delhi | 2025 | 300 beds | Operationalised |
| Haryana | Gurugram | 2026 | 250 beds | Upcoming |
| Total Network Capacity | 2,805 beds | |||
List of Services
| Centre Name | Gynaecology |
| Medicine | Orthopaedics & Spine & Rheumatology |
| Cardiology | Plastic & Cosmetic Surgery |
| Neurosciences | ENT (Ear, Nose, Throat) |
| General Surgery | Endocrinology |
| Nephrology & Urology | Critical Care |
| Paediatrics | Neurointervention |
| Gastroenterology | Dermatology |
| Pulmonology |
Domestic Presence of Hospitals
| Hospital Name | Year Incorporated/Acquired | Bed Capacity | ICU Beds | Occupancy | ARPOB (₹) | ALOS (Days) |
| Mature Hospitals |
||||||
| Greater Noida | 2010 Incorporated | 400 | 112 | 65% | 34,605 | 4.42 |
| Noida | 2013 Incorporated | 250 | 81 | 79% | 29,238 | 4.84 |
| Noida Extension | 2019 Incorporated | 450 | 125 | 60% | 38,033 | 4.26 |
| New Hospitals | ||||||
| Jhansi–Orchha | 2022 Acquisition | 305 | 76 | 50% | 13,218 | 3.95 |
| Greater Faridabad | 2024 Acquisition | 200 | 61 | 38% | 30,721 | 3.72 |
| Operationalize in Q1 FY26 | ||||||
| Faridabad | 2024 Acquisition | 400 | 105 | |||
| Model Town, New Delhi | 2024 Acquisition | 300 | 70 | |||
| Total | 2305 | 630 | ||||
02
Earning Calls Summary
Q1 FY 2027
Q1 Revenue Surges 51%; Maiden Dividend & ESOP Scheme Approved
Management opened noting a strong start to FY27 with the highest-ever quarterly revenue and profits. Newer hospitals at Greater Faridabad, New Delhi, Faridabad Sector 20, and Agra collectively contributed 27% to the revenue mix, demonstrating early success of the acquisition playbook.
Q1 FY27 REVENUE GROWTH
51% YoY to ₹3,927 million
ADJUSTED EBITDA MARGIN (EX-NEW HOSPITALS)
28.1%
GROUP ARPOB
₹34,758 (all-time high, up 7% YoY)
Key Takeaway: Q1 FY27 revenue grew 51% YoY to ₹3,927 million with EBITDA of ₹917 million (23.3% margin) and PAT of ₹454 million. Faridabad Sector 20 achieved EBITDA breakeven within a record 9 months, while the company approved a maiden interim dividend of 5% and launched its first ESOP scheme.
Concall Notes
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