Park Medi World FY26: Record growth, higher margins, and a bigger network

FY26 revenue (ex other income) was INR 16,794 mn, EBITDA was INR 4,443 mn and PAT was INR 2,736 mn on a consolidated basis, as per the investor presentation.

The company added 610 beds in FY26 through acquisitions in Bathinda (250 beds) and Agra (360 beds), taking beds to 3,610 as of 31 March 2026.

Management stated a plan to reach 5,460 beds by March 2028, implying 1,850 incremental beds versus FY26.

Network occupancy for FY26 was 64.1% versus 61.6% in FY25; Q4 FY26 occupancy was 62.5% versus 59.4% in Q4 FY25.

Management indicated the CGHS rate hike should benefit the company, with estimates ranging from about 5% to 6% net impact on a conservative basis, and another comment citing about 7% appreciation to revenue for nine months in FY27.

Debtor days reduced from 161 days (FY25) to 129 days (FY26) as per the investor presentation and management commentary.