Artemis Medicare Services Ltd

- Artemis Medicare Services has board approval to raise up to INR 700 crores, pending shareholders' approval once assets are finalized. - The capital raise is intended primarily to fund new projects beyond the three announced ones, including deposits for pipeline brownfield and greenfield projects. - Maximum peak debt for ongoing projects, including Raipur and 650 beds in Delhi, is expected to rise to around INR 350 crores from the current INR 260 crores. - Internal accruals plus this debt will be sufficient to fund existing announced projects. - Capex for the VIMHANS facility will start mostly after FY27, with major spending planned in FY28 and FY29. - No mention of immediate equity issuance, but capital raising discussions imply equity or other fundraise options.

- Gurgaon: Potential addition of 100 beds; plan to open 50 beds once 70% occupancy is achieved, followed by another 50 beds; capital allocation focusing on extension and maturity of existing towers. - New South Delhi & Raipur facilities: - Raipur: 650-bed facility planned in two phases (450 beds and 200 beds); capex around INR 500 crores (INR 350 crores for first 450 beds, INR 150-160 crores for next 200 beds); interiors and equipment included; Raipur operational beds to reach 300 within two quarters post-launch. - South Delhi: 650 beds planned; capex to start post-FY27 with major expenses from FY28 onwards; includes interiors and equipment, land/building owned by trust. - Additional capex of INR 100 crores planned in FY27 for Gurgaon replacement and fitting for Raipur. - Capital raise target of INR 700 crores approved by board for funding new projects beyond currently announced ones, including deposits not fundable by debt. - Focus on projects with target ROCE of 16-18% and payback within 5-6 years.

- Artemis Medicare anticipates a 15% to 17% annual revenue growth from flagship hospitals over the next 3-4 years. - Expansion plans include increasing operational beds from 544 currently and adding 200 beds at Raipur, targeting 2,000+ beds by 2029. - International patient revenue is expected to remain around 30-31%, with ongoing geographic diversification. - The Gurgaon facility aims to increase occupancy from ~64.6% to 70-75% by Q2 FY27, supporting revenue growth. - A 15% overall increase in top line is budgeted for both domestic and international patients, with price hikes of about 15%. - Raipur facility is expected to break even within 15-18 months of operation, with initial losses offset by growth in Gurgaon. - ARPOB is projected to grow 7%-8% year-on-year, driven by high-end surgeries and improved efficiencies.

- Revenue growth of 15% to 17% year-on-year expected from flagship hospitals over next 3-4 years (Rudra Acharjee, Pg 16). - At least 30% of incremental revenue expected to flow down to EBITDA (Pg 16). - Gurgaon hospital EBITDA margin projected north of 20%, driven by improved patient mix, operational efficiency, and cost sharing across facilities (Pg 10). - EBITDA margin for Gurgaon was 21.3% in Q4 FY26, with efforts to maintain or improve margins in FY27 (Pg 7, 10). - Raipur facility expected to incur losses of INR 18-20 crores initially, impacting consolidated EBITDA by 1-1.5% for 15-18 months, then contributing positively (Pg 16, 7). - Free cash flow improving: INR 88 crores in FY26 vs. INR 69 crores last year, with EBITDA to cash flow from operations at ~60% (Pg 19). - ARPOB growth of 7-8% annually with 15% price hikes factored for both domestic and international patients (Pg 16).

The transcript does not explicitly mention the current or expected order book or pending orders for Artemis Medicare Services Limited. However, some relevant points related to ongoing and upcoming projects include: - Board approval obtained for a fundraising initiative of up to INR 700 crores to support expansion efforts. - Plans to expand bed capacity from 800 beds to 2,000 beds by 2029. - Ongoing and upcoming projects: - Gurgaon facility expansion with option for an additional 100-bed facility. - Raipur 650-bed facility construction in two phases (450 beds and 200 beds), with capex around INR 500 crores. - South Delhi facility commissioning planned, specific timelines pending. - Management mentions plans to finalize the portfolio and shareholders' approval post asset finalization. No specific details on order book values or pending orders are disclosed in the transcript.