Global Health Limited (NSE: Medanta, BSE: 543654), one of the largest private multi-specialty tertiary care providers operating in the North and East regions of India, today announced its audited consolidated financial results for the quarter and full year ending 31st March, 2024.
Consolidated Highlights: FY2024 vs. FY2023
• Total income of Rs. 33,498 million, growth of 21% YoY
• EBITDA of Rs. 8,737 million compared to Rs. 6,771 million, growth of 29% YoY
• EBITDA margins improved by 154 bps to 26.1%
• Profit after tax of Rs. 4,781 million, growth of 47% YoY
• Net cash surplus of Rs. 7,720 million
• Average occupied bed days increased by 14% y-o-y, representing an occupancy of 62% on increased bed capacity
• In-patients count increased by 15%; Out-patient count increased by 18% in FY24
• ARPOB grew by 4.7% to Rs. 61,890
• Developing hospitals revenue share of consolidated revenue increased from 27% in FY23 to 30% in FY24 amounting to Rs. 9,948 million. Developing hospital EBITDA share of consolidated EBITDA increased from 32% in FY23 to 37% in FY24 amounting to Rs. 3,208 million
• During the period, International Patients Revenue increased by 24% to Rs. 1,935 million, driven by increased volume in international patient admissions and higher realizations
• In house OPD Pharmacy business continues to register strong growth. Revenue increased by 32% from Rs. 850 million in FY23 to Rs. 1,121 million in FY24
Consolidated Highlights: Q4 FY2024 vs. Q4 FY2023
• Total income of Rs. 8,361 million; growth of 14% YoY
• EBITDA of Rs. 2,068 million; growth of 8% YoY
• EBITDA margins remained stable at 24.7%
• Profit after tax of Rs. 1,273 million; growth of 26% YoY
• Average occupied bed days increased by 9% y-o-y, representing an occupancy of 59% on increased bed capacity
• ARPOB grew by 4% to Rs. 63,063; In-patient count increased by 10% y-o-y; Out-patient count increased by 11% y-o-y
Commenting on FY2024 results, Mr. Pankaj Sahni, Group CEO and Director said:
“I am pleased to inform that keeping with our consistent focus on quality care, Medanta has been recognized by Newsweek as India’s ‘Best Private Hospital’ for the fifth consecutive year. Medanta Gurugram is also the only Indian private hospital to feature in the top 200 hospitals in the world.
The continued focus on providing our patients with the highest quality of care has enabled Medanta to deliver strong financial results during the year. We remain dedicated to executing our core strategy and delivering on our upcoming projects. Medanta is well-positioned to drive near-term growth with calibrated bed capacity expansions at existing hospitals and new facilities.”
Key Developments – FY2024
• During the year, Medanta added 126 total beds comprising of 98 beds at Lucknow and 28 beds at Patna. 4 new Operating Theatre operationalized at Patna
• Medanta in partnership with DLF has announced a ~400 beds super-specialty hospital in South Delhi
• Medanta Noida hospital is on track with 95% superstructure completed. Mechanical, electrical and plumbing work is currently under progress with hospital expected to commence operations by end of FY25
• Launched comprehensive Oncology Care services with the operationalization of Varian Edge Linac radiation machine at Lucknow and Patna
• Medanta continues to strengthen its clinical capability and have on-boarded 150+ senior clinicians during the year
• Medanta Labs created a network of 8 new labs and 120+ collection centres setup since its launch in January 2023
