MEDANTA

Global Health share price & financials

Price
₹1,265.8
Market cap
₹39.1k Cr
Sector
Healthcare
Calls analysed
7
Latest concall · Q1 FY27 · call held 31 Jul 2026

Global Health Limited Q1 FY27

Reported EBITDA 3,153 million +23%Reported EBITDA Margin 23.8% Profit After Tax 1,573 million −1%

What went well

  • Consolidated income grew 26% YoY to INR13,262 million, reflecting robust growth across the network.
  • Reported EBITDA (including Noida) increased 23% YoY to INR3,153 million, achieving a healthy 23.8% margin.
  • Noida hospital's EBITDA loss declined sharply from INR236 million in Q4 FY26 to INR49 million in Q1 FY27, indicating rapid ramp-up.

What to watch

  • Profit after tax was INR1,573 million, slightly lower than INR1,590 million in Q1 FY26, which included a nonrecurring exceptional income of INR196 million.
Read the full call →

What Global Health Limited does

Global Health Limited operates hospitals under the Medanta brand, a doctor-led, multi-specialty model delivering tertiary and quaternary care across cardiac sciences, oncology, neurosciences, transplants and other complex specialties. Anchored by its flagship 1,440-bed Medanta – The Medicity in Gurugram (established 2009), the group has expanded into Lucknow, Patna, Indore, Ranchi and Noida, with new hospitals planned for Mumbai, Delhi, Guwahati and Varanasi. Revenue is earned from in-patient and out-patient hospital services, supplemented by an integrated continuum-of-care network spanning pharmacies, diagnostic labs, mediclinics and home-care services. The patient mix includes domestic cash, insurance/TPA, government scheme (CGHS/ECHS/Railways) and international patients.

Segments

  • Matured Hospitals
  • Developing Hospitals
  • Pharmacy & Diagnostics
Total installed hospital beds (network)
3,665
Hospital network footprint
6 operating hospitals — Gurugram, Lucknow, Patna, Indore, Ranchi and Noida; new projects planned in Mumbai, Delhi (2 sites), Guwahati and Varanasi
Cumulative patients treated (since inception)
2.5 million+
Full-time doctors at Gurugram flagship hospital
1,000+
Full-time employees at Gurugram flagship hospital
6,000+
Operating theatres and ICU beds at Gurugram flagship
40 operation theatres, 316 ICU beds
Founded 2009Headquarters New Delhi Company website

Guidance record · Q1 FY27

what the last two calls moved 15 tracked 3 delivered 0 missed 12 open
  • Noida Facility Launch delivered said Q3 FY25 Promised: Operational within the next 3 to 6 months (Summer 2025) Q1 FY27: Continues to ramp up, adding 51 beds this quarter. EBITDA loss narrowed significantly to Rs 49m from Rs 236m QoQ.
  • Total Capex revised up said Q3 FY25 Promised: Rs. 3,000 crores over next 3 to 4 years Q1 FY27: Future capex requirement stated as Rs. 4,850 crores to complete projects, an increase from the previous total plan of Rs. 4,500 crores, partly due to expanded scope of Guwahati project.
  • Planned Bed Additions on track said Q3 FY25 Promised: 1,000 bed additions planned over the next two years Q1 FY27: Added 72 beds in Q1 FY27, bringing total additions to 695 towards the 1,000 bed target by Q2 FY27.

All 15 tracked — every revision, and every one management stopped mentioning.

Open the guidance ledger

Quarterly results

Q1 FY27: revenue up 26.5%, net profit down 1.3% against the same quarter last year.

₹ Cr · quarterly
Line itemQ2 FY25Q3 FY25Q4 FY25Q1 FY26Q2 FY26Q3 FY26Q4 FY26Q1 FY27
Revenue957 943 931 1,031 1,099 +15%1,121 +19%1,159 +24%1,304 +26%
EBITDA228 238 225 247 231 +1%217 −9%244 +8%287 +16%
Net profit131 143 101 159 158 +21%95 −34%142 +41%157 −1%
How to read this

₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.

Performance +5.6% 1Y

₹1.0k₹1.2k₹1.4kSept 25Oct 25Dec 25Jan 26Mar 26Apr 26Jun 26Jul 26Sept 26Q2 FY26 — 10 Nov 2025Q3 FY26 — 5 Feb 2026Q4 FY26 — 20 May 2026Q1 FY27 — 31 Jul 2026

1Y: ₹1,370.6 on 10 Sept 2025 → ₹1,447.2. High ₹1,508.9 (27 Aug 2026), low ₹961.1 (30 Mar 2026).

How the price took the results

close before → close after

Q1 FY27
−0.8%
31 Jul
Q4 FY26
−0.0%
20 May
Q3 FY26
−1.3%
5 Feb
Q2 FY26
−5.4%
10 Nov

The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.

Financials, as filed

Revenue grew 17.8% a year over 3 years, FY23 to FY26. Operating margin narrowed to 21.3%.

Year endingFY23FY24FY25FY26
Revenue₹2.7k Cr₹3.3k Cr₹3.7k Cr₹4.4k Cr
Operating profit₹617 Cr₹792 Cr₹877 Cr₹939 Cr
Operating margin22.9%24.2%23.8%21.3%
Interest₹78 Cr₹74 Cr₹65 Cr₹80 Cr
Depreciation₹150 Cr₹172 Cr₹193 Cr₹223 Cr
Net profit₹327 Cr₹478 Cr₹481 Cr₹554 Cr
Net margin12.1%14.6%13.0%12.6%
Cash from operations₹645 Cr₹612 Cr₹624 Cr₹714 Cr
Free cash flow₹409 Cr₹335 Cr₹110 Cr₹-263 Cr
ROCE17.0%20.0%20.0%17.0%
How to read this

From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.

Balance sheet

Year endingFY21FY22FY23FY24FY25FY26
Equity capital₹50 Cr₹51 Cr₹54 Cr₹54 Cr₹54 Cr₹54 Cr
Reserves₹1.3k Cr₹1.6k Cr₹2.4k Cr₹2.9k Cr₹3.7k Cr₹3.9k Cr
Borrowings₹931 Cr₹1.1k Cr₹1.1k Cr₹802 Cr₹945 Cr₹1.2k Cr
Other liabilities₹380 Cr₹421 Cr₹547 Cr₹572 Cr₹757 Cr₹753 Cr
Total liabilities₹2.7k Cr₹3.1k Cr₹4.1k Cr₹4.3k Cr₹5.4k Cr₹5.9k Cr
Fixed assets₹1.6k Cr₹1.8k Cr₹2.0k Cr₹2.2k Cr₹3.2k Cr₹3.8k Cr
Capital work in progress₹464 Cr₹439 Cr₹327 Cr₹388 Cr₹318 Cr₹132 Cr
Investments₹0 Cr₹0 Cr₹0 Cr₹0 Cr₹3 Cr₹3 Cr
Other assets₹615 Cr₹930 Cr₹1.7k Cr₹1.7k Cr₹1.9k Cr₹2.0k Cr
Total assets₹2.7k Cr₹3.1k Cr₹4.1k Cr₹4.3k Cr₹5.4k Cr₹5.9k Cr
How to read this

As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.

Who owns it

As disclosed at Jun 2026

Since Jun 2025, DIIs added +4.69 pp while the public trimmed −2.64 pp. The shareholder count shrank 10% to 1,40,531.

Promoters
33.0%
FIIs
9.5%
DIIs
16.9%
Public
40.5%
Others
0.1%

Since Jun 2025

  • DIIs +4.69 pp
  • Public −2.64 pp
  • FIIs −2.08 pp

How it drifted, 12 quarters

Over this window DIIs went from 10.9% to 16.9% — +6.0 pp.

Sep '23Dec '24Jun '26

Ownership split by quarter, oldest first. Sep '23: Promoters 33.1%, FIIs 10.7%, DIIs 10.9%, Public 45.3%.Dec '23: Promoters 33.0%, FIIs 11.4%, DIIs 11.2%, Public 44.5%.Mar '24: Promoters 33.0%, FIIs 12.1%, DIIs 10.3%, Public 44.6%.Jun '24: Promoters 33.0%, FIIs 12.9%, DIIs 10.6%, Public 43.4%.Sep '24: Promoters 33.0%, FIIs 12.2%, DIIs 11.1%, Public 43.6%.Dec '24: Promoters 33.0%, FIIs 12.5%, DIIs 10.5%, Public 44.0%.Mar '25: Promoters 33.0%, FIIs 11.8%, DIIs 11.9%, Public 43.3%.Jun '25: Promoters 33.0%, FIIs 11.5%, DIIs 12.2%, Public 43.2%, Others 0.1%.Sep '25: Promoters 33.0%, FIIs 11.4%, DIIs 13.0%, Public 42.6%, Others 0.1%.Dec '25: Promoters 33.0%, FIIs 10.5%, DIIs 14.0%, Public 42.4%, Others 0.1%.Mar '26: Promoters 33.0%, FIIs 10.2%, DIIs 14.8%, Public 42.0%, Others 0.1%.Jun '26: Promoters 33.0%, FIIs 9.5%, DIIs 16.9%, Public 40.5%, Others 0.1%.

Who was buying across the market this quarter →

Who bought this quarter

since Mar 2026

Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.

The same filing shows 1 holder trimming and 4 off the list — both are in the register beside this.

Who is on the register

Named in the Jun 2026 filing

Every holder of Global Health Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.

HolderStakeChange
Naresh Trehan 33.00%unchanged
Dunearn Investments (Mauritius) Pte Ltd FPI fund14.84%unchanged
Mr. Sunil Sachdeva 10.04%−0.75 pp
Rj Corp Limited 6.58%unchanged
Invesco India ELSS Tax Saver Fund Mutual fund5.30%newly disclosed
Kotak Contra Fund Mutual fund3.53%+0.19 pp
Government Pension Fund Global Sovereign3.17%unchanged
UTI-Healthcare Fund Mutual fund2.01%newly disclosed
Polaris Healthcare Investments Pte Ltd 1.86%unchanged
Canara Robeco Mutual Fund A/C Canara Robeco Small Mutual fund1.83%newly disclosed
HDFC Mutual Fund - HDFC Business Cycle Fund Mutual fund1.06%newly disclosed
S S Family Trust 0.00%unchanged

A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.

Mutual funds in MEDANTA

Filings to Aug 2026

1 new, 9 added, 1 trimmed, 0 sold out — net +4.26 L shares (+10.9%).

Held by funds
₹619 Cr
16 schemes
Biggest holder
HDFC Multi Cap Fund
₹158 Cr · 0.8% of that fund
SchemeHoldingLast month
HDFC Multi Cap Fund HDFC Mutual Fund₹158 Cr+0.70 L
HDFC Value Fund HDFC Mutual Fund₹121 Crheld
SBI Healthcare Opportunities Fund SBI Mutual Fund₹111 Cr+1.10 L
HDFC Pharma and Healthcare Fund HDFC Mutual Fund₹90 Cr+0.26 L
Nippon India Multi Asset Allocation Fund Nippon India Mutual Fund₹35 Crheld
HDFC Business Cycle Fund HDFC Mutual Fund₹32 Crheld
Nippon India Balanced Advantage Fund Nippon India Mutual Fund₹20 Cr+1.24 L
Nippon India Active Momentum Fund Nippon India Mutual Fund₹13 Crnew

HDFC, Nippon India and SBI schemes, from their monthly disclosures. Changes are counted in shares, so a price move never looks like buying or selling.

Mutual funds Aug 2026

9 added, 1 trimmed — net +4.26 L shares (+10.9%)

Funds are sitting on
+1%
vs est. average cost
Held by funds
₹619 Cr
16 schemes · ≈ 1.4% of the company
Biggest holder
HDFC Multi Cap Fund
₹158 Cr · 0.8% of that fund
Longest holder
Nippon India ETF Nifty Midcap 150
2y · since Sep '24

Shares held by these funds −10%

Aug '23 40.03 L shares Jul '26

What the price assumes

Growth trap

To justify its price of ₹1447, this stock must grow earnings at 39% every year for 7 years. Our analysis caps realistic growth at ~18%. At that growth it is worth ₹530 — downside of 63%.

Growth the price implies
38.8% a year
for 7 years, fading to 4%
It has actually compounded at
19.2% a year
net profit, FY23–FY26 · EPS 18.4%
The gap
0.2 pp
-63% downside if it only repeats history
Price today ₹1,447.2 Value at the reference growth ₹530.32

Change the assumptions yourself →

All earnings calls (7)

Read the Q1 FY27 call →

Learn to analyse Global Health Limited

Guides on how to read this kind of business and the numbers that matter.