Medi Assist Healthcare Services (MEDIASSIST) Q3 25/26 earnings summary

Executive summary

• Achieved 24% revenue growth for the nine-month period, with Q3 showing strong margin expansion and a transition to a debt-free balance sheet as of January 2026.

• Paramount integration is progressing, with technology migration and business transfer effective February 2026, consolidating TPA operations and expanding strategic partnerships.

• AI-powered solutions and tech revenues are driving operational efficiency, fraud prevention, and measurable outcomes, with significant adoption across insurers and hospitals.

• Consolidated revenue from operations for Q3 FY26 was Rs. 2,396.78 million, up from Rs. 1,859.74 million in the same quarter last year.

• The group completed the acquisition of Paramount Health Services and Insurance TPA Private Limited on 1 July 2025.

Financial highlights

• Q3 FY26 total income grew 9.2% year-on-year ex-Paramount, and 29.9% including Paramount; consolidated contract revenue up 29%.

• Consolidated EBITDA for Q3 reached INR 44.6 crore; nine-month EBITDA at INR 128.9 crore, up 13.8% year-on-year.

• Adjusted PAT (excluding exceptional items) for nine months at INR 46.3 crore consolidated, INR 50.3 crore ex-Paramount; quarterly profit impacted by exceptional items.

• Free cash position of INR 200 crore as of December 31, 2025; debt reduced from INR 243 crore to INR 39.4 crore, becoming debt-free in January 2026.

• For the nine months ended 31 December 2025, revenue from operations was Rs. 6,627.81 million, and net profit was Rs. 299.74 million.

Outlook and guidance

• Focus remains on disciplined execution of Paramount integration, scaling innovation-led capabilities, and accelerating tech deployments.

• Expectation of margin accretion from high-margin tech revenues as platform adoption increases.

• Ongoing pilots and international expansion in tech solutions to drive future growth.

• Technology platform migration and AI enablement for Paramount clients underway, with full integration expected post-February 2026.

• Management expects no adverse impact from the Enforcement Directorate search at a subsidiary and has made no adjustments in the financials for this event.