Global Health Ltd

- The transcript does not mention any current or planned fundraising through debt or equity. - Yogesh Kumar Gupta shared the company’s cash and debt position: overall cash of Rs. 1,085 crores and gross debt of Rs. 321 crores. - CAPEX guidance over next 3-4 years is around Rs. 3,000 crores, with funding likely managed internally or through existing resources. - No explicit commentary on new debt or equity raises was provided during the Q3 FY2025 earnings call. - The company appears focused on operational expansion and bed additions, with flexibility on investment but no confirmed new fundraising at this stage.

- Total CAPEX guidance for the next 3 to 4 years is around Rs. 3,000 crores (slide 25 of investor presentation). - Approximately 1,000 bed additions planned over the next two years in existing hospitals (Lucknow, Patna, Ranchi) and Noida. - Three major Greenfield projects underway with about 1,600 beds: Mumbai Oshiwara (500+ beds), Pitampura (700+ beds), South Delhi Greater Kailash (about 400 beds); these are in various approval/construction stages and expected to take 3-4 years. - Lucknow hospital expansion includes adding 200 beds within 6 to 9 months, with flexibility for new specialties. - Ranchi expansion includes operationalizing a ready-made hospital to scale from 200 to 300-350 beds. - Noida hospital construction started in Sept 2022, expected to be operational by summer 2025. - Equipment buy-over and additional investment (~Rs. 20-30 crores for equipment buy-over and ~Rs. 20 crores buffer) planned at Ranchi new hospital site.

- Strong volume growth expected across hospitals, with inpatient volumes increasing by 13% YoY in Q3 FY25. - Expansion of bed capacity ongoing: ~1,000 bed additions planned over next 2 years across Lucknow, Patna, Ranchi, and new facilities like Noida. - Development of three major greenfield projects (Mumbai Oshiwara, Pitampura, South Delhi) adding ~1,600 beds over 3-4 years. - Continuous recruitment of clinical talent and investment in infrastructure to support growth. - Focus on increasing bed occupancy and absolute volumes rather than solely occupancy percentage. - Increased empanelment with government and corporate healthcare schemes to expand patient base. - Growth driven by complex specialties, robotic programs (notably in Lucknow), and broader specialty expansion possibilities. - International patient revenue growing, with facilities like Gurgaon and upcoming Noida expected to contribute.

- Medanta expects continued volume-driven growth, with inpatient volumes up 13% YoY and outpatient volumes increasing 9% YoY in Q3 FY25. - Developing hospitals like Lucknow and Patna show strong momentum, driving occupancy and revenue growth. - EBITDA margin improved to 27.5% in Q3 FY25 with an 8% YoY increase in EBITDA; PAT grew 16% YoY to Rs. 1,429 million with PAT margin improving to 14.9%. - Capacity expansions underway with ~1,000 bed additions planned in next 2 years plus 3 greenfield projects adding ~1,600 beds over 3-4 years, supporting long-term growth. - Focus on optimizing operations, increasing specialist clinical talent, and adopting advanced technologies for better case mix and revenue growth. - Tariff increases expected to gradually improve ARPOB, currently stable, alongside better case mix management and length of stay optimization. - New facilities (e.g., Noida) expected to break even in 2+ years, contributing to overall earnings growth in medium term. - Commitment to serve rapidly growing regions (e.g., eastern Uttar Pradesh) offers significant expansion opportunities.

- Total CAPEX guidance for the next 3 to 4 years is around Rs. 3,000 crores (Page 20). - This includes projects related to the build-out and expansion of existing hospitals and new specialties (Page 20). - Approximately 1,000 bed additions are planned over the next two years in existing hospitals like Lucknow, Patna, and Ranchi, including Noida (Page 6). - Three major greenfield projects are underway totaling about 1,600 beds: Mumbai Oshiwara (500+ beds), Pitampura (700+ beds), and South Delhi Greater Kailash (400 beds); these will take 3 to 4 years to commence operations (Page 6). - Lucknow hospital expansion to about 950–1,000 beds is ongoing with further clinical and infrastructure investments planned (Page 17). - Noida facility construction is expected to be completed and operational by summer 2025 (Page 11).