Global Health Limited · NSE:MEDANTA
Global Health — Q4 FY2026 Earnings Presentation
50 slides from Global Health's earnings presentation, May 14, 2026
Slide 1: Stock exchange cover letter for investor presentation
May 14, 2026 Ref:- GHL/2026-27/EXCH/11 The General Manager The Manager Dept. of Corporate Services Listing Department BSE Limited, National Stock Exchange of India Limited P J Towers, Dalal Street, Exchange Plaza, C-1, Block G, Mumbai - 400 001 Bandra Kurla Complex, Bandra (E), Mumbai - 400 051 Scri
Slide 2: Global Health Limited Investor Presentation Q4 and FY2026
GLOBAL HEALTH LIMITED Dedicated to Life Investor Presentation Q4 and FY2026 5 14th May, 2026 1
Slide 3: Disclaimer
Disclaimer This presentation, apart from historical information, contains some "forward-looking statements" including those describing the Company’s strategies, strategic direction, objectives, future prospects, estimates etc. These forward-looking statements involve a number of risks, uncertainties
Slide 4: Contents
Contents 01 FY2026: Year at a Glance 02 FY2026 Performance Update 03 Q4 FY2026 Performance Update 04 Project Update and Capex Plan 05 Medanta’s Journey, Purpose and Model of Healthcare 06 Annexures 3
Slide 5: FY2026: Year at a Glance
01 FY2026: Year at a Glance 4
Slide 6: FY2026 Year at a Glance
FY2026 Year at a Glance Strengthening the core and building strong foundation for long term sustainable growth Capacity Expansion Attract Best Talent 550+ Doctors on-boarded in FY26 across Medanta Consolidated: Total 623 beds added during the year, 20.5% bed growth network hospitals out of which
Slide 7: Medanta Noida: Fully Operational with 382 beds
Medanta Noida: Fully Operational with 382 beds Formally inaugurated on 27th November, 2025. ~100 ICU beds and 14 OTs were operational at the end of Q4 FY26 Medanta Noida Overview 550+ 382 Planned beds capacity Operational beds 200+ 35+ Experienced Doctors Directors 75+ 25+ Senior clinicians Super Sp
Slide 8: Medanta Indore: Takeover of a ~80 bedded Cancer Hospital under BTA
Medanta Indore: Takeover of a ~80 bedded Cancer Hospital under BTA in April 2026 Strategic Rationale 1. Strategic Location Advantage: 80 bedded cancer hospital is strategically located just 500 meters from Medanta Indore, enabling seamless integration and operational synergies 2. Specialized Cancer
Slide 9: Medanta Indore: Cancer care hospital ready to commence operations
Medanta Indore: Cancer care hospital ready to commence operations with 3 Major OTs and ~80 beds Operating Theatre – 3 ICU Digital X-Ray Main Lobby Suite Room Mammogram 8
Slide 10: Medanta Gurugram: Recognised for clinical excellence in India and globally
Medanta Gurugram: Recognised for clinical excellence both in India and globally Best Hospital in India Continuing Our Legacy of Excellence in Patient Care Proudly Rank Among the top 110 Globally Choosing a hospital is rarely a simple decision. “ It is often made in moments of uncertainty, when unusu
Slide 11: Medanta Lucknow received JCI accreditation in January 2026
Medanta Lucknow received the prestigious Joint Commission International (JCI) accreditation in January 2026 Only JCI-accredited hospital in Lucknow and Uttar Pradesh. Continuing Our Legacy of Excellence in Patient Care 10
Slide 12: FY2026 Performance Update
02 FY2026 Performance Update 11
Slide 13: FY2026 performance summary
FY2026 performance summary Revenue Growth of 20% y-o-y and EBITDA ex Noida growth of 19% y-o-y Profit after Tax and Total Income1 EBITDA3 and Margins Margins EBITDA2 ex Noida Reported EBITDA INR 11,343 million INR 10,560 million INR 5,541 million INR 45,089 million Margin: 12.3% Margin: 25.7% Margin
Slide 14: FY2026 performance summary
FY2026 performance summary Strong Revenue growth of 20% y-o-y, primarily led by increase in patient volumes and realization • Consolidated Total Income of INR 45,089 million, strong growth of 19.6% y-o-y • EBITDA3 (ex-Noida1) grew by 18.6% y-o-y to INR 11,343 with margins of 25.7%. EBITDA Including
Slide 15: Key operating metrics: Revenue and profitability
Key operating metrics: Revenue and profitability In FY26, Medanta delivered strong Revenue and EBITDA growth ex of Noida of 17% and 19% respectively Total Income (INR million) FY2022-26 CAGR: 20% +17.2% 44,183 45,089 37,713 +19.6% 33,498 27,592 22,058 FY2022 FY2023 FY2024 FY2025 FY2026 ex Noida FY20
Slide 16: Key operating metrics: Revenue and profitability
Key operating metrics: Revenue and profitability Consistently delivering strong CAGR growth across key financial metrics Profit before Tax (INR million) FY2022-26 CAGR: 26% +10.5% 7,150 6,271 6,473 4,493 2,805 FY2022 FY2023 FY2024 FY2025 FY2026 12.7% 16.3% 18.7% 17.2% 16.2% Profit after Tax (INR mil
Slide 17: Key operating metrics: Volumes, occupancies, ALOS
Key operating metrics: Volumes, occupancies, ALOS Strong volume growth, increased bed capacity and improvements in ALOS Census and occupied beds ALOS (days) 12.2% 3.76 -4.1% 2,737 3.25 3.23 3.17 2,440 3.04 2,049 2,231 1,779 1,686 1,375 1,514 1,076 1,205 11.4% FY2022 FY2023 FY2024 FY2025 FY2026 FY202
Slide 18: Key operating metrics: ARPOB and revenue mix
Key operating metrics: ARPOB and revenue mix ARPOB growth driven by change improvement in ALOS and case mix ARPOB1 (INR) IPD Revenue mix by payor category2 +6.1% 62,722 66,550 59,098 61,890 54,547 57% 56% 60% 63% 61% 25% 24% 25% 25% 4% 24% 3% 4% 4% 5% 9% 2% 9% 2% 9% 2% 10 4% 11 3% FY2022 FY2023 FY20
Slide 19: Diverse revenue mix across all complex specialties
Diverse revenue1 mix across all complex specialties Significant contribution from complex specialties, cancer contribution is increasing Heart 20.9% 23.8% 23.1% 21.6% 21.0% Digestive 10.2% 11.3% 11.4% 12.0% 11.4% Cancer 10.8% 12.3% 13.7% 14.2% 11.5% Neuro 11.2% 11.4% 11.2% 11.4% 11.3% Kidney & Urolo
Slide 20: FY2026: Matured portfolio registered high single digit growth
FY2026 : Matured portfolio registered high single digit growth Growth in matured hospitals led by both Volume and case mix change Matured hospitals - Over 6 years Total Income (INR million) EBITDA (INR million and margin %) +9.0% +7.2% 26,119 28,482 6,481 6,946 +14.8% +10.9% 6,541 7,257 1,685 1,935
Slide 21: FY2026: Developing portfolio continues to register robust growth
FY2026: Developing portfolio continues to register robust growth Developing hospitals led by Volume. Noida registered peak loss in Q3 FY26, quarterly loss started to decline Developing hospitals – Less than 6 years Total Income (INR million) EBITDA (INR million and margin %) +29.2% +37.5% +35.2% +11
Slide 22: Financial performance: Medanta Pharmacy and Labs
Financial performance: Medanta Pharmacy and Labs OPD Pharmacy (Hospital & Retail) Revenue (INR million) Medanta Labs (INR million) 21 operational pharmacy outlets comprising of: 100+ 300+ 12 7 Hospital Pharmacies Cities of Operation Partner-run Collection Company owned Centres (FOFO) collection ce
Slide 23: FY2026 Balance Sheet Summary
FY2026 Balance Sheet Summary 4 Year EBITDA and Net Cash flow from Operations CAGR of 21% Well capitalized balance sheet and strong EBITDA to cash flow conversion Return on Capital Employed % INR million FY2022 FY2023 FY2024 FY2025 FY2026 Gross Debt 8,379 8,422 4,193 3,279 6,311 23.4% Cash and Cash E
Slide 24: Q4 FY2026 Performance Update
03 Q4 FY2026 Performance Update 23
Slide 25: Q4 FY2026 performance summary
Q4 FY2026 performance summary Revenue Growth of 25% y-o-y and EBITDA ex Noida growth of 27% y-o-y Profit after Tax and Total Income1 EBITDA3 and Margins Margins EBITDA2 ex Noida Reported EBITDA INR 3,142 million INR 2,906 million INR 1,417 million INR 11,958 million Margin: 11.8% Margin: 27.5% Margi
Slide 26: Q4 FY2026 performance summary
Q4 FY2026 performance summary Highest every quarterly revenue registered during the quarter. Noida hospital start up losses started to decline • Highest ever quarterly total income of INR 11,958 million; growth of 25.3% y-o-y • EBITDA3 (ex-Noida1) grew 27.0 % y-o-y to INR 3,142 with improved margins
Slide 27: Key operating metrics: Revenue and profitability
Key operating metrics: Revenue and profitability In Q4 FY26, Total Income and EBITDA excluding Noida up by 20% and 27% respectively Total Income (INR million) EBITDA1 (INR million and margin %) +26.9% +19.8% 3,142 2,906 11,428 11,433 11,958 2,476 2,494 +17.4% 9,542 +25.3% Q4 FY25 Q3 FY26 Q4 FY26 Q4
Slide 28: Key operating metrics: Volumes, occupancies, ALOS
Key operating metrics: Volumes, occupancies, ALOS Strong volume growth, increased bed capacity and improvements in ALOS Census and occupied beds ALOS (days) 19.0% -4.1% 2,851 2,950 3.19 3.02 3.06 2,480 1,684 1,795 1,518 18.2% Q4 FY25 Q3 FY26 Q4 FY26 Q4 FY25 Q3 FY26 Q4 FY26 61% 59% 61% Census beds Oc
Slide 29: Key operating metrics: ARPOB and revenue mix
Key operating metrics: ARPOB and revenue mix ARPOB grow due to change in case mix and improvement in ALOS ARPOB* (INR) IPD Revenue mix by payor category +4.8% 63,629 67,361 66,687 57% 56% 56% 25% 25% 25% 4% 5% 5% 10% 4% 12% 3% 11% 3% Q4 FY25 Q3 FY26 Q4 FY26 Q4 FY25 Q3 FY26 Q4 FY26 Cash TPA CGHS/ ECH
Slide 30: Diverse revenue mix
Diverse revenue1 mix Significant contribution from complex specialties Heart 22.0% 20.3% 22.0% Cancer 14.4% 14.6% 13.4% Digestive 11.1% 11.4% 10.9% Neuro 11.4% 11.5% 11.2% Kidney & Urology 7.5% 8.0% 7.8% Internal Medicine 5.9% 5.8% 6.0% Ortho 4.9% 5.7% 5.4% 2.9% 2.6% 2.7% Liver Transplant Others Spe
Slide 31: Project Update and Capex Plan
04 Project Update and Capex Plan 30
Slide 32: On-going expansion projects
On-going expansion projects ~20% Capacity added in FY26. Planned bed capacity addition to drive sustainable growth Number of installed beds ~ 2,700 bed addition 623 bed addition +65.0% +20.5% 490 bed addition 400 ~219 bed addition 400 +13.4% 750 +7.8% 750 168 49 400 382 80 193 2,823 131 110 6,855 21
Slide 33: Capex plan next 5 years
Capex plan next 5 years Total capex of over ~INR 45,000 million planned for next 5 years 2,242 3,000 700 6,000 4,471 5,833 45,242 40,000 12,509 6,000 3,427 1,060 MaintenanceLucknow, South Mumbai Pitampura, Guwahati Varanasi Indore Medical Guest Total Capex for 3 Patna, Delhi- DLF Delhi Cancer School
Slide 34: Medanta to enter Mumbai market with 750+ bedded hospital at Oshiwara
Medanta to enter Mumbai market with a state-of-the-art, 750+ bedded super-specialty hospital at Oshiwara, Mumbai Super specialty hospital in Oshiwara, Mumbai 750+ beds super speciality hospital at Oshiwara Approval for additional 4 FSI has been received and the requisite payment has been made in
Slide 35: Delhi: Strengthening our presence with planned capacity of ~1,000 beds
Delhi: Strengthening our presence in the region with a planned capacity of ~1,000 beds Expanding into the high-growth, densely populated micro markets of Northwest and South Delhi Super specialty hospital in North West Delhi Super specialty hospital in South Delhi *Artistic image for illustration pu
Slide 36: Medanta to set up 400+ bedded hospitals in Guwahati and Varanasi
Medanta to set up 400+ bedded super-specialty hospital in Guwahati and Varanasi 400+ Bedded Super specialty hospital in Guwahati 400+ Bedded Super specialty hospital in Varanasi *Artistic image for illustration purpose only *Artistic image for illustration purpose only Building permit approval rec
Slide 37: Completing the campus
Completing the campus Establishing world class medical college and guest house for out of city patients Medanta Guest House Medanta Medical College *Artistic image for illustration purposes only *Artistic image for illustration purposes only • Medanta to construct a service apartments / guest house
Slide 38: Medanta's Journey, Purpose and Model of Healthcare
Medanta’s Journey, Purpose and 05 Model of Healthcare 37
Slide 39: Medanta was founded to bring a new type of healthcare to India
Medanta was founded to bring a new type of healthcare to India… … the human side of healthcare Healthcare is never only about science. It is also about the art of medicine – the human connection, putting the patient first, collaboration, the personal acts of empathy and the values that guide our dec
Slide 40: Growth from a single flagship hospital in Gurgaon
Growth from a single flagship hospital in Gurgaon… …to a network of 6 high quality hospitals across north India FY2026 MEDANTA 2025 HOSPITAL MEDANTA 2021 HOSPITAL NOIDA JAI PRABHA 550 Beds Ranchi Unit 2 2019 MEDANTA SPECIALTY 382 currently 110 Beds operational MEDANTA HOSPITAL Commenced including 98
Slide 41: From our flagship Medicity campus in Gurgaon, we have grown to ~3,633 beds
From our flagship Medicity campus in Gurgaon, we have grown to ~3,633 beds across 6 cities Largest private hospital beds in operation under one roof in Delhi (NCR), Uttar Pradesh and Bihar Gurgaon LUCKNOW PATNA 1,440 beds; 316 ICU beds 757 beds; 211 ICU beds (950 planned) 601 beds; 176 ICU beds (650
Slide 42: One of the largest private hospital chains in North and East India
One of the largest private hospital chains in North and East India Serving over 400 million people in the States with Medanta facilities Gurugram; Largest single location private hospital in with operational Delhi; ~1,150 bed addition bed capacity of 1,440 Our Network planned with 750 beds in Pitamp
Slide 43: Our Mission and Values
Our Mission and Values Embracing a new era and redefining our purpose Core Values Patient centric care: Foster a culture where every one of us is MISSION committed to care for patients and their caregivers Our mission is to deliver Leadership and quality: Commit to delivering excellence in world cla
Slide 44: The Medanta Model of Healthcare
The Medanta Model of Healthcare Delivering the highest quality of medicine with care and compassion Exceptional clinical talent What it means for patients and caregivers? • Super specialized doctors provide the highest quality of care through a team based integrated approach Trust based compassionat
Slide 45: Medanta is well placed to deliver sustainable growth
Medanta is well placed to deliver sustainable growth… …while maintaining its core values of patient centric care and clinical leadership and quality CONTINUITY OF CARE TECHNOLOGY Extend clinical THOUGHT ADVANCEMENT services outside LEADERSHIP Use technology to hospital and ENHANCE Build on our impro
Slide 46: Annexures
06 Annexures 45
Slide 47: Annexure: Profit and Loss Statement
Annexure: Profit and Loss Statement Year End Quarter Y-o-Y Y-o-Y INR million FY2026 FY2025 Q4 FY26 Q3 FY26 Q4 FY25 Growth % Growth % Revenue from operations 44,103 36,923 19.4% 11,590 11,211 9,313 24.5% Other income 986 789 24.9% 367 217 229 60.3% Total income 45,089 37,713 19.6% 11,958 11,428 9,542
Slide 48: Annexure: Operational Parameters
Annexure: Operational Parameters Year End Quarter Y-o-Y Growth Y-o-Y Growth Q-o-Q Growth Key metrics FY2026 FY2025 Q4 FY26 Q3 FY26 Q4 FY25 % % % Total Beds 3,665 3,042 20.5% 3,665 3,579 3,042 20.5% 2.4% Census Beds 2,737 2,440 12.2% 2,950 2,851 2,480 19.0% 3.5% Occupied Bed Days 614,973 552,492 11.3
Slide 49: Annexure: Abbreviations and Definitions
Annexure: Abbreviations and Definitions Abbreviations INR : Indian Rupee NABH : National Accreditation Board for Hospitals & Healthcare Providers NABL : National Accreditation Board for Testing and Calibration Laboratories JCI : Joint Commission International OPD : Out-Patient Department
Slide 50: Contact us
Contact us About Medanta Contact Details Founded by Dr. Naresh Trehan, a world-renowned cardiovascular and Ravi Gothwal Bhushan Khandelwal cardiothoracic surgeon who has been awarded the prestigious Head of Investor Relations Investor Relations Padma Bhushan and the Padma Shri, the third- and fourth