Target: ₹1,495CMP: ₹1,444.45Medanta delivered a strong Q1FY27 performance, with revenue rising 26.5 per cent year on year to ₹1,304 crore. Growth was driven by a 21 per cent increase in occupied bed days and a 5.5 per cent rise in ARPOB to ₹70,244. Reported occupancy stood at 66 per cent, impacted by the ramp-up at the Noida hospital, while established hospitals continued to sustain healthy momentum. Total bed count increased 6.8 per cent to 2,851.EBITDA stood at ₹287 crore, with margins at 22 per cent flat year on year, primarily due to lower operating losses at the newly-commissioned Noida hospital. Noida reported an EBITDA loss of ₹5 crore, a significant improvement from the ₹23.6-crore loss reported in Q4FY26. The company added 51 beds during the quarter, taking the current capacity to 433 beds. Major empanelments across insurance companies, PSUs and corporates have been completed, with the management expecting the hospital to achieve EBITDA-breakeven earlier than previously guided. The management’s outlook remains focused on delivering sustainable, volume-led growth across its 3,350-bed expansion pipeline, with a target of restoring consolidated EBITDA margins to the 25-26 per cent range as newer assets mature. Operational performance is expected to be driven by high-acuity complex care, including oncology, robotic surgeries and organ transplants, along with a growing international patient base, supporting steady single-digit growth in ARPOB through a richer case mix rather than significant tariff hikes. Published on August 3, 2026