Hospital Archives - ChartAlert®

APOLLOHOSP – Q3 FY26 Earnings Call – 11-Feb-26

Apollo Hospital’s topline likely grows 12–15% in FY’27 (existing hospitals + phased bed additions), but bottomline faces 100–150 bps margin compression from new hospitals; digital profitability and Keimed synergies are binary catalysts for re-rating or de-rating.

1–2 minutes

3-Scenario Framework

📊 Base Case (50% Probability)

Key variables: 50% of 750 beds operational by FY’27, digital cash EBITDA breakeven in Q1 FY’27, and 3% pricing power in CONGO-T.
Outcome: Revenue grows 12–14%, EBITDA margins flat YoY (new hospital losses offset by existing hospital expansion). Keimed synergies partially realized; pharmacy delivers 18% same-store growth. Implication: EPS grows 10–12%; FCF breakeven in FY’28.

MAXHEALTH – Q3 FY26 Earnings Call – 6-Feb-26

Max Healthcare’s topline growth (12–15%) hinges on capacity absorption and CGHS normalization; bottomline expansion (100–150 bps EBITDA margin) requires payor mix distillation and brownfield ROCE delivery.

1–2 minutes

3-Scenario Framework

📊 Base Case (50% Probability)

Key variables: CGHS rate hikes materialize (Q1 FY’27); Gurgaon Phase 1 commissions by H1 FY’27; clinician retention stable.
Outcome: Revenue grows 12–15% YoY (capacity + ARPOB); EBITDA margins expand 100–150 bps to 27–28% by FY’28. Net debt/EBITDA remains <1x.