Asarfi Hospital Ltd

Q2 FY26Healthcare Services

Asarfi Hospital Ltd Q2 FY26 Results & Concall Highlights: Revenue, Margins & Order Book

Q2 FY26 earnings call: what management guided on revenue, margins and order book.

Price₹221

Market cap₹454 Cr

P/E25.0

Updated23 Aug 2026

Read4 min read

The short version

Revenue projection for FY26 is Rs.160 crores with a PAT margin of 13% to 15%. Revenue Growth**: Projected to increase from Rs.160 crores in FY26 to Rs.200+ crores by FY27.

From Asarfi Hospital Ltd's Q2 FY26 earnings-call transcript · updated 23 Aug 2026.

Revenue & Sales Performance

Revenue projection for FY26 is Rs.160 crores with a PAT margin of 13% to 15%.
For FY27, expected revenue is around Rs.200 crores with similar or slightly improved margins.
Target to increase total bed capacity from current 330 beds to 500 beds by FY27.
Plans to expand cancer hospital beds from 65 to 150, leveraging existing infrastructure, requiring minimal CAPEX.
Focus on ramping up cancer operations to improve occupancy and revenue.
Brownfield projects and possible acquisitions (including a 70-bed promoter hospital) to support bed and revenue growth.
Aim to eventually become a 1,000-bed company before 2030, expanding into Eastern UP, Bihar, and Jharkhand.
Incremental revenue expected from improved bed utilization, modest ARPOB improvements and operational synergies from acquisitions.

Profitability & Margins

**Revenue Growth**: Projected to increase from Rs.160 crores in FY26 to Rs.200+ crores by FY27.
**EBITDA Margin**: Expected to improve and stabilize in the range of 25% to 27%.
**PAT Margin**: Targeting an increase from current ~9% to between 13% and 15% in the coming years.
**Bed Capacity Expansion**: Aiming to expand total bed capacity to 500 by 2027 and to 1,000 beds before 2030, supporting revenue growth.
**ARPOB Improvement**: Focused on marginal improvement in ARPOB while increasing bed utilization; cancer hospital ARPOB already improved significantly.
**Cost Optimization**: Initiatives underway to reduce costs (doctor contracts, pharmacy purchases) to enhance profitability.
**Receivables Management**: Efforts to reduce debtor days, particularly from government payments, to improve cash flow and profits.
**EPS Expectation**: With increasing revenue and improving margins, EPS growth is anticipated inline with PAT margin improvements.

See what Asarfi Hospital Ltd said on profitability & margins — free account, 30 seconds.

Capital Expenditure Plans

Expansion of cancer hospital from 65 to 150 beds; minimal CAPEX as infrastructure is mostly in place (Page 4).
Brownfield projects for bed expansion, focusing on reduced CAPEX and faster turnaround (Page 15).
CAPEX for 200-bed expansion estimated under Rs.10 crores, funded through internal accruals, to be completed before FY2027 (Page 13).
Construction of additional 65 beds in existing unit mostly done; equipment installation needed (~Rs.3 crores) (Page 7).
Rs.4 crores invested in hostel infrastructure to support manpower and paramedical/ nursing education expansion (Page 6).
Establishment of bone marrow transplant unit planned for next year; permission applied and facility expected operational by next year (Pages 5 and 12).
MOU with Gleneagles Hospital, Chennai, for multi-organ transplant unit; currently collaborating to clarify organ donation policy, no revenue projected yet (Page 12).
Strategic MoU signed for multi-organ transplant services in Jharkhand (Page 4).

Top-ranked in Healthcare Services

Ranked on what management guided this quarter

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1Health X Platform₹981 Cr

Rev 1Mar 1

2CHANDAN₹518 Cr

Rev 1Mar 3

3₹66.5K Cr

Rev 2Mar 1

4₹654 Cr

Rev 2Mar 2

5₹1.3L Cr

Rev 2Mar 3

Rank buckets describe management commentary on revenue and margin. Not investment advice, and not a forecast of returns.

Fundraising & Capital Structure

No explicit mention of new fundraising through debt or equity in the provided transcript.
CAPEX for expansion (e.g., 200-beds) is estimated to be under Rs.10 crores and planned to be funded through internal accruals, indicating no external funding needed for this.
Education vertical and hostel investments (~Rs.4 crores) are being managed without large CAPEX; no mention of external funding.
There is discussion about acquisitions and mergers (e.g., promoter entity hospital), but no details on raising debt or equity for these.
The company appears focused on internal accruals and operational cash flows for funding growth and expansion rather than seeking new debt or equity at present.

See what Asarfi Hospital Ltd said on fundraising & capital structure — free account, 30 seconds.

Order Book & Pipeline

The transcript does not explicitly mention the current or expected order book or pending orders for Asarfi Hospital Limited. However, some relevant insights related to ongoing and future business activities include: - The hospital is planning expansion through Brownfield projects, focusing on adding beds and capacity with relatively low CAPEX. - Target to achieve approximately 500 beds by FY27 and aiming for 1,000 beds by 2030. - Discussions and processes underway for mergers and acquisitions, including a 70-bed promoter entity hospital. - Expansion plans include increasing cancer hospital beds from 65 to 150 and establishing a bone marrow transplant unit by next year. - Revenue projections include Rs.160 crores for FY26 and Rs.200 crores for FY27, influenced by occupancy and marginal ARPOB improvement. - No specific orderbook or pending orders figures are provided in the transcript.

Asarfi Hospital Ltd — Quarterly revenue & net profit

Revenue Net profit

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Reported quarterly figures (₹ Cr). Latest: revenue ₹45 Cr, net profit ₹4 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.

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Frequently Asked Questions

What were Asarfi Hospital Ltd Q2 FY26 results?

Revenue projection for FY26 is Rs.160 crores with a PAT margin of 13% to 15%. Revenue Growth**: Projected to increase from Rs.160 crores in FY26 to Rs.200+ crores by FY27.

What is Asarfi Hospital Ltd share price analysis?

Asarfi Hospital Ltd currently shows a neutral. The stock trades at a P/E of 25.0 with a market cap of ₹454 Cr. Investors should review the full earnings analysis for detailed insights.

Is Asarfi Hospital Ltd planning capital expenditure?

Expansion of cancer hospital from 65 to 150 beds; minimal CAPEX as infrastructure is mostly in place (Page 4).

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This analysis is AI-generated based on publicly available earnings data and concall transcripts. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.