Artemis Medicare Q1 FY27 Results: Revenue Grows 13%, Profit Surges 48% on Strong Hospital Performance

What Happened ?

• Artemis Medicare reported another quarter of healthy financial and operational growth. The company’s flagship Gurugram hospital continued to improve occupancy and patient realizations, resulting in strong revenue and profitability growth. During the quarter, Artemis also strengthened its long-term expansion strategy by commencing operations at its new Raipur hospital in July 2026, expanding its presence beyond the Delhi-NCR region. 

key details

Business & Operational Highlights:

• Consolidated revenue increased 12.7% YoY to ₹287.32 crore.
• EBITDA grew 27.9% YoY to ₹61.82 crore.
• PAT increased 48.3% YoY to ₹31.44 crore.
• Diluted EPS improved 46.7% YoY to ₹1.98.
• Gurugram hospital revenue increased 15.4% YoY to ₹278.49 crore.
• Gurugram EBITDA rose 24.4% YoY to ₹61.63 crore.
• Bed occupancy improved to 65.7% from 61.2%.
• ARPOB increased to ₹85,690, reflecting stronger patient realizations.
• Revenue from overseas patients increased 8.6% YoY to ₹76.51 crore, accounting for 27.5% of hospital revenue. 

Expansion & Strategic Developments:

• Artemis commenced operations at its Raipur hospital in July 2026.
• The new facility marks the company’s entry into Central India, supporting its long-term expansion strategy.
• Management expects the Raipur hospital to strengthen regional presence and expand access to advanced healthcare services.
• The company remains focused on disciplined expansion, operational excellence, and improving profitability while building a scalable healthcare platform. 

Note:

• Management highlighted that improved occupancy, higher ARPOB, sustained demand for specialized healthcare services, and disciplined cost management were the primary drivers behind the quarter’s strong financial performance. 

Risk Analysis

Summary:

• Artemis delivered strong operational and financial growth supported by its flagship hospital. However, the successful ramp-up of the newly operational Raipur facility and maintaining occupancy and patient realizations will be important for sustaining long-term growth.

Key Risks:

• New hospital operations may require time to achieve optimal occupancy and profitability.
• Healthcare expansion involves execution and ramp-up risks.
• Sustaining higher ARPOB and occupancy levels remains essential for margin growth.
• Rising healthcare costs and competition could impact profitability.

Worst Case:

• If the Raipur hospital ramps up slower than expected or occupancy growth moderates, future earnings growth could be lower despite continued expansion.

Risk Level: Medium

Company Commentary

Management highlighted the following during the quarter:

• Onkar Kanwar, Chairman of Artemis Medicare Services Ltd, said the company began FY27 on a strong note with consistent growth across financial and operational metrics, supported by improved occupancy, higher ARPOB, and sustained demand for specialized healthcare services.
• Management highlighted the commencement of operations at the Raipur hospital as a major milestone in expanding Artemis’ presence into high-growth markets.
• Dr. Devlina Chakravarty, Managing Director, stated that disciplined cost management, operational excellence, and clinical quality continue to strengthen profitability while supporting future expansion and long-term value creation.