Jupiter Life Line Hospitals (JLHL) Q1 25/26 earnings summary

Executive summary

• Q1 FY26 total income rose 20.5% year-on-year to INR 347.6 crores, with EBITDA up 19.6% to INR 78.1 crores and a margin of 22.5%.

• PAT declined 1.6% year-on-year to INR 43.9 crores, with a PAT margin of 12.6%.

• Patient volume grew 11.7% year-on-year to approximately 260,000 in Q1, with strong IPD and OPD revenue growth.

• New projects, including Dombivli and Pune II hospitals, and a 1.2 MW solar power plant in Madhya Pradesh, are progressing as planned.

• The results were reviewed and approved by the Audit Committee and Board, with an unmodified limited review report.

Financial highlights

• Total income: INR 347.6 crores (₹3,476.25 million), up 20.5% year-on-year.

• EBITDA: INR 78.1 crores, up 19.6% year-on-year; margin at 22.5%.

• PAT: INR 43.9 crores, down 1.6% year-on-year; margin at 12.6%.

• Earnings per share (basic and diluted) for Q1 FY26 was INR 6.69, compared to INR 6.80 in Q1 FY25.

• Net cash position of INR 275 crores (total debt INR 325 crores, cash INR 600 crores).

Outlook and guidance

• Increased depreciation and finance costs expected to persist through FY26, widening the gap between EBITDA and PAT.

• EBITDA margins expected to be preserved, but PAT margins will be lower for the year.

• Dombivli hospital expected to be commissioned in Q1 FY27, with negative EBITDA in its first year.

• Organic growth anticipated in Pune and Indore, with Dombivli hospital to contribute from next year.

• Focused on strategic expansion in Western India to address demand-supply mismatch.