Vaidya Sane

- The company has issued 40 lakh preferential warrants to institutional investors, pending NSE approval for 25% payment to be received. - No new equity fundraising announced beyond this; the receipt of funds depends on regulatory approval. - No mention of fresh debt-raising plans in the current discussion or future outlook. - Existing capital raise proceeds from warrants are primarily earmarked for hospital expansions (Khopoli and Nagpur). - The company is focusing on internal cash flow generation to fund growth, indicating limited reliance on external debt.

- **Current/future CAPEX plans:** - Expansion of hospitals at Khopoli (100 extra beds) and Nagpur (80 beds) with an estimated investment of INR 25-30 crores. - Vadodara hospital expansion on a rental model; no construction CAPEX expected but installation costs applicable. - Ongoing construction started for Khopoli hospital expansion; Nagpur hospital CAPEX to commence in 3-4 months. - Capacity expansion at Nagpur hospital adding 5 beds, investment approx. INR 55 lakhs. - Launch of Urja Neuro Care facility focused on integrative neuro treatments, estimated cost about INR 1.8 crores. - Plans to increase bed capacity to around 350-370 beds in next 12-15 months. - Aim to have about 1000 beds nationwide in 2-3 years. - **Strategic investments:** - International expansion via collaboration with Maxura Healthcare in Malaysia to establish an Ayurvedic therapy center. - Investment in marketing and branding (~INR 7 crores amortized over 5 years). - Strengthening insurance empanelment to improve hospital occupancy. Overall, aggressive capacity expansion and strategic partnerships are major investment focuses.

- FY '26 expected revenue: INR 115-120 crores. - FY '27 projected sales: Around INR 180 crores; INR 50-55 crores from hospitals, INR 125-135 crores from clinics, with potential to surpass this figure. - FY '28 sales target: INR 280 crores planned, with aim to surpass and possibly reach INR 320-350 crores. - EBITDA margins expected to increase to 30%-35% by FY '28 if INR 280 crore turnover is achieved. - Revenue growth drivers include increased patient footfall in clinics, expansion of hospital bed capacity from current 110 beds to 350+ beds by FY '28. - Scale-up of Madhavprash sales from 15,000-20,000 units/month currently to target of 1 lakh units/month in next 24 months. - Expansion plans include adding 6 more hospitals mostly in Gujarat, Maharashtra, Rajasthan, and potential franchise hospital upgrades. - Overall growth focus on clinics, hospitals, food/nutritional products, and wellness centers.

- FY '26 revenue expected at INR 115-120 crores, with 20% growth and EBITDA margins around 17-18%. - EBITDA margin targeted to steadily increase, aiming for ~20% by FY '28. - PAT margins anticipated to rise to about 10-12% by FY '28. - By FY '28, revenue potential estimated at INR 280 crores or more, possibly reaching INR 320-350 crores, with roughly 30-35% EBITDA margin. - EBITDA anticipated to grow 1.5x to 2x by FY '28 compared to current, with EBITDA above 30%. - EPS growth aligned with revenue and profit increases; EPS was INR 4.56 in H1 FY '26, expected to improve with scaling. - Confidence in maintaining operational discipline, sustainable growth, and expanding patient base to drive earnings.

The transcript does not explicitly mention current or expected order book or pending orders details. However, relevant points indicating future business and growth pipeline include: - Expansion plans for hospitals with an increase from 110 beds to approximately 350-370 beds in the next 12-15 months across Khopoli, Nagpur, Vadodara, and Vizag. - Targeting 1,000 beds nationwide in 2 to 3 years through organic expansion and franchise hospital upgrades. - Plans to add 40 to 50 new clinics in the current year and 70 to 80 clinics next year. - Ongoing construction and CAPEX of about INR 25-30 crores for capacity expansion at Khopoli and Nagpur hospitals. - Expecting sales to grow to around INR 115-120 crores for FY '26, INR 180 crores for FY '27, and INR 280 crores+ for FY '28. - Active franchise clinics showing conversion into hospitals (e.g., Kolhapur 5-bed hospital). No specific order book or pending order values were disclosed.