Artemis Medicare Q2 FY27 Revenue Up 13.2% to ₹311 Crore; Adjusted EBITDA at ₹71.5 Cr
Artemis Medicare reported Q2 FY27 revenue of ₹311 crore, up 13.2% YoY, with adjusted operational EBITDA at ₹71.5 crore (23.3% margin). H1 FY27 revenue was ₹598.4 crore, up 13% YoY. The company plans to increase operational capacity to 2,000 beds in 3-5 years through expansions in Gurugram and South Delhi, and the new Raipur hospital. A fundraise is anticipated by Jan-Feb 2027.
The announcement includes detailed financial results, significant expansion plans (new hospitals, capacity additions), and a potential fundraise, all of which are material to investors. The discussion on regulatory impacts also has potential financial implications.
The company reported strong revenue growth and improved EBITDA margins for Q2 and H1 FY27. Expansion plans are progressing, and the management expressed optimism about future growth and profitability despite potential regulatory impacts.
Artemis Medicare Services Limited announced its financial results for the second quarter (Q2) and first half (H1) of FY27. The company reported a consolidated revenue from operations for Q2 FY27 of ₹311 crore, a year-on-year growth of 13.2%, driven by strong demand across key specialties. Consolidated EBITDA for Q2 FY27 stood at ₹62.89 crore with a margin of 20.2%, while adjusted operational EBITDA was ₹71.5 crore with a margin of 23.3%. Profit after tax for the quarter was ₹31 crore, a 3.7% year-on-year increase.
For H1 FY27, consolidated revenue from operations reached ₹598.4 crore, a 13% year-on-year increase. Consolidated EBITDA for H1 FY27 was ₹124.7 crore (20.8% margin), and adjusted operational EBITDA was ₹133.32 crore (22.4% margin). Profit after tax for H1 FY27 grew by 22.2% year-on-year to ₹62.5 crore.
The company is focusing on strengthening clinical capabilities, expanding capacity, and adopting technology. The Gurugram Hospital reported its highest ever EBITDA at 23.8%. International patients contributed approximately 30% of the revenue.
Key expansion plans include the Artemis Shanti Hospital in Raipur, which commenced operations in July 2026, and the addition of Tower 4 at the Gurugram campus, planned to add 250 beds, expected by H2 FY28. The South Delhi project in Lajpat Nagar, a proposed 650-bed facility, is expected to commence operations in Q4 FY29-FY30. These expansions aim to increase operational capacity to around 2,000 beds over the next 3 to 5 years.
Regarding the Raipur hospital, which officially inaugurated on November 3, 2026, it reported an estimated loss of ₹9 crore in its first quarter, with a top line of ₹5.3 crore and an occupancy rate of 10%. The Average Revenue Per Occupied Bed (ARPOB) is around ₹30,000 to ₹32,000.
The company is actively finalizing targets for a fundraise, expected by January-February 2027, to support its expansion plans, including acquiring EBITDA-positive companies.
On the potential impact of price capping on oncology drugs, the management stated that the EBITDA impact would be around 0.5% to 0.8% in a worst-case scenario, as current margins are already close to the proposed caps and a significant portion of other drugs are already regulated by NPPA. The room rent tariff regulation is expected to have zero impact as their room rents are already at 3-star levels and procedure costs are competitively priced.
What to do with a filing like this
Artemis Medicare Services Limited filed this with the NSE as a statutory disclosure, categorised under quarterly results. It is a primary document, not a recommendation, and the desk marks it high impact, which is the band that most often changes something.
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See the model portfoliosA plain-language summary of a public exchange filing by Artemis Medicare Services Limited. Read the original for the full detail.