Healthcare Global Enterprises Ltd. · NSE:HCG
Healthcare Global Enterprises — FY2025 Earnings Presentation
45 slides from Healthcare Global Enterprises's earnings presentation, May 24, 2025
Slide 1: Exchange cover letter: Investor Presentation
May 24, 2025 National Stock Exchange of India Limited, BSE Limited, Compliance Department, Compliance Department, Exchange Plaza, Bandra Kurla Complex, Phiroze Jeejeebhoy Towers, Bandra (East), Mumbai - 400051, Dalal Street, Mumbai - 400001, Maharashtra, India Maharashtra, India Dear Sir/Madam, Subj
Slide 2: HealthCare Global Enterprises Limited Investor Presentation May 2025
HEALTHCARE GLOBAL ENTERPRISES LIMITED I NV ESTOR P R ESENTATI ON May 2025
Slide 3: Safe Harbor
SAFE HARBOR This presentation and its contents are confidential and are not for release, publication or distribution, in whole or in part, directly or indirectly, in or into or from the United States of America, Canada, Australia, Japan or any jurisdiction where such distribution is unlawful. This p
Slide 4: Largest Pan-India Oncology Hospital Chain
Largest Pan-India Oncology Hospital Chain LARGEST GEOGRAPHICAL REACH… 2 Center of Excellence (CoE) 10 19 ~55% 22 Cancer Care Centers 1 Number of Number of Addressable market3 4* Multi-specialty hospitals states covered5 cities covered5 (population) 6 Day care centers 25 16/18 3.7L+ Jaipur No. of cen
Slide 5: Redefining Cancer Care in India
Redefining Cancer Care in India Largest oncology focused Strong commercial engine driving hospital chain with 1 5 digital and brand transformation a pan India network Focused factory approach and Successful playbook of smart Tumor board, pioneered by Dr. Ajai, 2 6 acquisitions and driving sustained
Slide 6: Industry Opportunity
Industry Opportunity LARGE AND GROWING ONCOLOGY MARKET IN INDIA INDIA IS A SIGNIFICANTLY UNDER-COVERED CANCER INDUSTRY INRbn Population coverage by cancer registries1 CAGR 13-14% CAGR 12% 263 3% 97% 1% 89% 3% 3% 151 1% 41% 10% 2019 Population Cancer Relapse Affordability Realization 2024 2030E growt
Slide 7: Low early-stage diagnosis and skewness of CCC towards metros are key problems
Low early-stage diagnosis and skewness of CCC towards metros are key problems LOW EARLY-STAGE DIAGNOSIS IN INDIA… … LEADING TO HIGH MORTALITY TO INCIDENCE RATIO 81% 88% 91% 71% 73% 70% 61% 51% 52% 56% 29% 31% 30% 31% 26% 25% 28% 33% 19% 17% 22% 23% 15% 8% Breast Cancer Head and Neck Lung Cancer Brea
Slide 8: Global case studies reinforce need for single specialty cancer hospitals
Global case studies and research reinforces the need to create single specialty hospitals for cancer care ✓ ✓ ✓ Objective of independently focusing on cancer Announced collaboration with Beth Israel Terminated partnership with Brigham and care rather than operating within a large health Deaconess Me
Slide 9: HCG positioned as Destination for Cancer Care
HCG has positioned itself as ‘Destination for Cancer Care’ with superior clinical and non -clinical expertise… DIAGNOSTICS TREATMENT POST CARE Genomics and Digital PET Preventive Oncology Medical Oncology Radiation Oncology Surgical Molecular Imaging Psychological Preventive Oncology Molecular and H
Slide 10: Underpinned by state-of-the-art technological expertise
…Underpinned by state -of-the-art technological expertise TRACK RECORD OF BEING 1st TO LAUNCH State-of-the-art Equipment in each modality Diagnostics ADVANCED TECHNOLOGY IN INDIA 19 Total PET AI-based 2022 CTs RIS PACS Digital PET CT Digital Digital Tomosynthesis Skyra Tesla Molecular / Ethos / Path
Slide 11: Tumor Board approach
“ T u m o r B o a rd a p p ro a c h ” – P ione e r in s c ie nt if ic d is c ou rse -le d innov a t ion w it h r ig ht c a s e s e le c t ion a nd le a r ning me t hod olog y Spearheaded by Dr. Ajai, who also heads 17+ years of nation wide, Supplemented by multiple IRC1 of 30+ oncologists for clinic
Slide 12: Better clinical outcomes compared to leading international cancer peers
Case Study:HCG has been able to achieve better clinical outcomes compared to leading int’l cancer focused peers owing to its focused approach TREATMENT ADMINISTERED AND OUTCOMES – HCG VS. MD ANDERSON COVERAGE BY HARVARD OUTCOME: 5-YEAR SURVIVAL GLOBALLY COMPARABLE OUTCOMES N=729 N=2,451 TNBC Non-TNB
Slide 13: Leveraging Genomics to drive better outcomes
Case Study : Leveraging “Genomics” to drive better outcomes 1st in Asia to complete 120+ clinical runs (1k+ patients) 1,000+ 1,735+ of Comprehensive Genomic Profiling Patient samples processed Total number of genomic with TSO500 alterations detected in cohort PRECISION Give the right diagnosis at th
Slide 14: HCG has decoded the oncology business model across metros and non-metros
HC G ha s s uc c essfully d ec od ed t he onc ology bus iness mod el r es ult ing in r ob us t p e r for mance a c r oss b ot h me t r os & non -me t r os 10 NON-METRO CENTERS WITH 15%+ ROCE STRONG PERFORMANCE ACROSS METROS AND NON-METROS Key Parameters Metros Non-metros Surgeries 10k4 22k4 All Non-
Slide 15: Established market leading positions across cities
Established market leading positions across 16 of 18 cities HCG COMMANDS MARKET LEADERSHIP IN ~90% OF METROS & NON-METROS THE CITIES IT IS PRESENT IN2 # of cancer 12 4 2 centers : 211,2 Geographic Presence MULTIPLE METROS # of cancer centers : 8 2 2 4 Peer 1 # of cancer centers : 14 Peer 2 1 2 <5 CI
Slide 16: Driving higher growth in market leading centers
Driving higher growth in market leading centers Centre of Excellence Upcoming Centre of Excellence Premier non-metro center KR HCC Cuttack Revenue FY18 FY20 FY25 FY18 FY20 FY25 FY18 FY20 FY25 ⚫ Engaged seasoned Regional Head ⚫ Strong Doctor Partner alignment ⚫ Strong Doctor Partner alignment ⚫ Stren
Slide 17: Significant focus on turnaround and profitability of key centers
Significant focus on turnaround and profitability of key centers Nagpur Jaipur Borivali Revenue FY20 FY25 FY20 FY25 FY20 FY25 EBITDA (IND AS) FY20 FY25 FY20 FY25 FY20 FY25 ⚫ Improving mix of clinical strength across modalities ⚫ Engaged COO with proven track record ⚫ New regional head appointed in O
Slide 18: Huge untapped potential across established and emerging centers
Huge untapped potential exists across key established and emerging centers Bengaluru South Mumbai • One of the most attractive micro-markets with the best flywheel of existing market share, • Customized philosophy to crack the hardest micro market in healthcare, anchored around quality of physicians
Slide 19: Articulating HCG's RoCE journey till date
Articulating HCG’s RoCE journey till date ESTABLISHED CENTERS EMERGING CENTERS HCG(1) Consistent growth in established Market leadership Acquired / established in recent years centers Track record of consistent profitability Substantial investment outlay recently Key metros scaled up 18 CCCs + 6 Day
Slide 20: Breakdown of FY25 ROCE
Breakdown of FY25 ROCE RoCE FOR KEY CENTERS (CONTRIBUTING OVERALL ROCE VIEW TO 75%+ EBITDA MARGINS) 32% 17% 25% 13% Established Overall Emerging 2% Yet to breakeven (18)% Bangalore Vintage 1 Vintage 2 Vintage 4 (> 8 years) (~ 5 years) (Nascent) ◼ Established centers already operate at a superior ROC
Slide 21: Case studies of smart acquisitions and sustained growth
Case studies of smart acquisitions and driving sustained growth post integration Time-tested and highly replicable model of consistent revenue growth and profitability across geographies HCC Cuttack Acquisition 20131 2008 year Situation at ⚫ Primarily ⚫ Outside of ⚫ Single digit ⚫ Primarily ⚫ Single
Slide 22: Potential to grow faster than market over next 5 years
Potential to grow faster than market over the next 5 years Well defined inorganic levers of expansion as a Greenfield expansions to drive natural industry consolidator future growth Complementary adjacencies to Higher patient value capture unlock newer avenues through advanced technology and of grow
Slide 23: Massive potential to drive attractive returns going forward
Massive potential to drive attractive returns going forward Margin Improvement Capital Efficiency ✓ Ongoing measures to improve ✓ Asset light expansion through pay per realization on the back of more use model for equipment and advanced technologies operationalization of day care beds ✓ Ongoing valu
Slide 24: Brand & Digital Marketing – Story so far & way forward
Brand & Digital Marketing – Story so far & way forward Current Future March 25 3-5 years ✓ SEO based revamped website – Feb 2022 & ✓ Microsite for International Sept 2023 Aspire to be on page 1 ranking ✓ Gujarati & Arabic Language options on ✓ Content addition on website based on SEO in google searc
Slide 25: Digital Marketing - Journey so far
Digital Marketing - JOURNEY SO FAR Digital Revenues as % of Topline Metro vs Non-Metro 9.2% 14.7% Metro Non Metro 801 2x 801 440 603 440 112% 332 108 65% 199 Q4FY24 Q4FY25 Q4FY24 Q4FY25 Source wise Digital Revenues Revenue from Digital Channels Q4FY24 Q4FY25 • Revenues from Digital Channels such as
Slide 26: Q4 & FY25 Financial & Operational Highlights
Q4 & FY25 FINANCIAL & SUBASENI LENKA, CANCER WINNER OPERATIONAL HIGHLIGHTS I am eternally thankful to Dr. Panda and other specialists at HCG Panda Cancer Hospital, as the specialists were able to treat my condition the right way, the first time 25 www.hcgoncology.com www. h c g o n c o l o g y. c o
Slide 27: Financial Highlights Q4FY25
Financial Highlights Q4FY25 Rs in M n REVENUE R E V E N U E - H C G C e n t e r s (1) REVENUE - Milann Centers +18% +20% -18% 5,851 5,711 170 4,946 4,776 140 Q4FY24 Q4FY25 Q4FY24 Q4FY25 Q4FY24 Q4FY25 ADJUSTED EBITDA PROFIT AFTER TAX PROFIT AFTER TAX ADJUSTED EBITDA* MARGIN* (Pre-IND AS) (Post-IND AS
Slide 28: Financial Highlights FY25
Financial Highlights FY25 Rs in M n REVENUE R E V E N U E - H C G C e n t e r s (1) REVENUE - Milann Centers +16% +17% -14% 22,228 21,651 674 19,121 18,447 577 FY24 FY25 FY24 FY25 FY24 FY25 ADJUSTED EBITDA PROFIT AFTER TAX PROFIT AFTER TAX ADJUSTED EBITDA* MARGIN* (Pre-IND AS) (Post-IND AS) +20 bps
Slide 29: Improved Performance Leading to Profitability
Improved Performance Leading to Profitability 1.6x 4,870 4,699 4,946 5,269 5,535 5,586 5,851 3,646 4,079 4,200 4,247 4,422 4,607 Revenue (INR mn) Q4'22 Q1'23 Q2'23 Q3'23 Q4'23 Q1'24 Q2'24 Q3'24 Q4'24 Q1'25 Q2'25 Q3'25 Q4'25 1.6x 864 941 929 1,042 923 1,057 652 740 760 773 778 765 804 EBITDA (Excl. E
Slide 30: Growth Across HCG Centers
Growth Across HCG Centers Established Centers Emerging Centers ~1.4x g r o w t h i n l a s t 9 q u a r t e r s ~1.6x g r o w t h i n l a s t 9 q u a r t e r s REVENUE +22% +32% 4,931 5,264 587 4,637 4,848 530 519 3,893 4,085 4,290 4,117 4,330 446 475 371 403 417 358 Q4FY23 Q1FY24 Q2FY24 Q3FY24 Q4FY2
Slide 31: Strong Operating Metrics with Significant Capacity Headroom
Strong Operating Metrics with Significant Capacity Headroom Key Driver Metric Indicator % Revenue Q4’24 Q4’25 FY’24 FY’25 +11.8% 389 435 Lead indicator of Volume Growth; key +13.8% OPD Footfall (‘000) operating metric tracked by HCG; has 18%* 102 116 correlation to OPD Footfalls +23.1% 179 +23.9% 14
Slide 32: HCG – Q4FY25 Operational Metrics
HCG – Q4FY25 Operational Metrics # TOTAL AOR (%) ESTABLISHED CENTERS EMERGING CENTERS AOR (%) A O R ^* ( % ) 67.0% 67.9% 56.8% 63.2% in Q4FY24 64.3% in Q4FY24 50.7% in Q4FY24 380 bps 360 bps 610 bps Operational beds increased from 1,943 in Q4FY24 to 2,140 in Q4FY25. On a like to like basis , total A
Slide 33: HCG – FY25 Operational Metrics
HCG – FY25 Operational Metrics # ESTABLISHED CENTERS EMERGING CENTERS Established Centers Pre TOTAL AOR (%) AOR (%) A O R ^* ( % ) Ind AS ROCE (%) 65.7% 67.0% 51.6% 17.1% 64.2% in FY24 66.1% in FY24 44.1% in FY24 16.9% in FY24 150 bps 90 bps 750 bps 20 bps ROCE (Pre-IndAS) pre-corporate allocations
Slide 34: HCG – Cluster Wise Revenue Break Up
HCG – Cluster Wise Revenue Break Up C LU ST E R Q4FY25 Q4FY24 Y-o-Y FY25 FY24 Y-o-Y K A R N ATA K A * 1,670 1,514 10% 6,398 6,014 6% G U J A R AT 1,297 1,258 3% 5,275 4,784 10% MAHARASHTRA 982 771 27% 3,592 2,871 25% EAST INDIA 647 551 17% 2,551 2,106 21% ANDHRA PRADESH 638 345 85% 2,054 1,378 49% T
Slide 35: Milann – Implementing Strategic Initiatives
Milann – Implementing Strategic Initiatives BENGALURU (5 Centers) Growth Growth Particulars Q4FY25 Q4FY24 FY25 FY24 Y-o-Y Y-o-Y New 1,019 958 6% 4,334 4,446 -2.5% Registrations Shivananda Indiranagar IVF Cycles 256 375 -32% 1,289 1,635 -21% Whitefield Sarjapur JP Nagar Revenues HSR 140 170 -18% 577
Slide 36: Capital Expenditure & Net Debt
Capital Expenditure & Net Debt CAPITAL EXPENDITURE (Rs. Mn.) NET DEBT (Rs. Mn.) NET DEBT 31 st Mar 2025 31 st Mar 2024 HCG CENTERS FY25 FY24 Bank Debt ( 1) 9,413 6,288 Established Vendor Finance ( 2) 288 303 1,976 1,836 Centers Other Debt 113 38 Emerging Centers 80 41 Less: Cash & Cash Equivalents (
Slide 37: Q4 & FY25 Consolidated Profit & Loss Account
Q4 & FY25 Consolidated Profit & Loss Account Profit and Loss (in Rs. Mn.) Q4 FY25 Q4 FY24 Y-o-Y Q3 FY25 Q-o-Q FY25 FY24 Y-o-Y Revenues from Operations 5,834.1 4,932.5 5,575.5 22,181.2 19,078.7 Income from Govt. Grant 17.3 13.8 10.2 47.1 42.5 Total Revenue from Operations 5,851.4 4,946.3 18% 5,585.7
Slide 38: Consolidated Balance Sheet
Consolidated Balance Sheet Balance Sheet - Equity & Liabilities (in Rs. Mn.) Mar-25 Mar-24 Balance Sheet - Assets (in Rs. Mn.) Mar-25 Mar-24 Equity Share Capital 1,394.2 1,392.9 Non-Current Assets Other Equity 7,830.3 6,864.9 Property, Plant And Equipment 12,689.2 10,146.9 Equity Attributable To Equ
Slide 39: Cash Flow Statement
Cash Flow Statement Cash Flow Statement (in Rs. Mn) Mar-25 Mar-24 Net Profit Before Tax 569.6 677.2 Adjustments For: Non - Cash Items / Other Investment Or Financial Items 3,684.9 2,914.0 Operating Profit Before Working Capital Changes 4,254.5 3,591.2 Changes In Working Capital -764.8 -271.8 Cash Ge
Slide 40: Historical Financial Highlights
HISTORICAL FINANCIAL SHANKAR, CANCER WINNER HIGHLIGHTS The days I was at HCG, I felt like I was sleeping at home. They never stop caring for you. The doctors and nurses are always finding ways to make this difficult journey as comfortable as possible 39 www.hcgoncology.com www. h c g o n c o l o g y
Slide 41: Historical Profit & Loss Account
Historical Profit & Loss Account Profit and Loss (in Rs. Mn.) FY25 FY24 FY23 FY22 FY21 FY20 CAGR Revenues from Operations 22,181 19,079 16,914 13,948 10,092 10,923 Income from Govt. Grant 47 43 30 30 43 33 Total Revenue from Operations 22,228 19,121 16,944 13,978 10,134 10,956 15% Costs of Goods Sol
Slide 42: Historical Balance Sheet – Equity & Liabilities
Historical Balance Sheet – Equity & Liabilities Balance Sheet - Equity & Liabilities (in Rs. Mn.) Mar-25 Mar-24 Mar-23 Mar-22 Mar-21 Mar-20 Equity Share Capital 1,394 1,393 1,391 1,390 1,254 887 Other Equity 7,830 6,865 7,214 7,313 5,718 2,926 Equity Attributable To Equity Holders Of The 9,225 8,258
Slide 43: Historical Balance Sheet - Assets
Historical Balance Sheet - Assets Balance Sheet - Assets (in Rs. Mn.) Mar-25 Mar-24 Mar-23 Mar-22 Mar-21 Mar-20 Non-Current Assets Property, Plant And Equipment 12,689 10,147 9,718 9,315 8,531 9,271 Capital Work in Progress 248 832 182 217 300 461 Rights-of-use Assets 6,941 4,907 3,813 4,045 4,114 5
Slide 44: Historical Cash Flow Statement
Historical Cash Flow Statement Cash Flow Statement (in Rs. Mn) Mar-25 Mar-24 Mar-23 Mar-22 Mar-21 Mar-20 Net Profit Before Tax 570 677 449 878 -2,287 -1,193 Adjustments For: Non - Cash Items / Other Investment Or 3,685 2,914 2,753 1,666 3,619 2,988 Financial Items Operating Profit Before Working Cap
Slide 45: Thank You
THANK YOU Company: HealthCare Global Enterprises Limited Investor Relation Advisors: Strategic Growth Advisors CIN: L15200KA1998PLC023489 CIN: U74140MH2010PTC204285 For updates and specific queries, please visit Mr. Sagar Shroff / Mr. Ayush Haria www.hcgoncology.com sagar.shroff@sgapl.net / ayush.ha
HealthCare Global Enterprises — FY2025 Earnings Presentation on 6ix