ALFA Finder
The call ran from 6:01 PM to 6:58 PM IST (57 min).
Key takeaways
Q2 revenue ₹3,400 Cr (+37% YoY), EBITDA ₹882 Cr (+30%), 26% margin, volume-led. Eastern government-scheme volumes fell; Sayadri margin recovery is the main story. Management gave no EBITDA guidance.
| Revenue growth | Q2 revenue +37% YoY; H1 +38%; volume-led, not one-time. |
|---|---|
| Margins | Network EBITDA 26% Q2; Sayadri up from 15.5% FY26 to 19.5%. |
| Demand visibility | October started well; eastern government-scheme demand uncertain. |
| Management confidence | Over-optimistic: 'best ever quarter'; defers hard guidance. |
Growth
Volume-led: inpatient volumes +35%, outpatient +27% YoY, occupancy 70%. Sayadri Q2 revenue ₹375 Cr, +13% QoQ.
Outlook
No revenue or EBITDA guidance; Sayadri margin target 23-24% within 4-5 years of acquisition.
Risks
Eastern government-scheme volumes down 17% (H1); Electronic City ₹13 Cr EBITDA loss; no EBITDA guidance given.
Last quarter's promises, checked
Delivered
- Guided Q2 debt repayment (2.8x→0.9x) → repaid 15 Sept (= BEAT)
- Guided ~300-bed Electronic City in Q2 → launched July as 50th hospital (= BEAT)
- Guided Kinder transfer ~60 days post-CPs → completed in Q2 (= BEAT)
Partly delivered
- Guided FY27 capex ~INR2,000 Cr (INR900 Cr in Q1) → Q2 capex not disclosed (= PARTIAL)
Missed
- Guided govt business 'pretty flat', scheme fix 'very shortly' → Eastern govt volumes -17% H1, transition ongoing (= MISS)
Summary by ALFA Finder, written with AI assistance from our own recording of the call, published . Open it on ALFA Filings ›
The results behind this call
Manipal Health Enterprises Q2 FY27 Results: Net Profit ₹285 Cr, Down 10.3% YoY
Manipal Health Enterprises Ltd reported revenue from operations of ₹3,399 Cr (+37.3% YoY) and net profit of ₹285 Cr (-10.3% YoY) for Q2 FY27.
- Key figure
- Net profit ₹285 Cr · -10.3% YoY
Call details
| Company | Manipal Health Enterprises Limited |
|---|---|
| NSE symbol | MANIPALHOS |
| ISIN | INE459N01021 |
| Call | Q2 FY27 earnings call |
| Date | Friday, 13 November 2026 |
| Time | 6:00 PM IST |
| Length | 57 min |
| Audio | Our stream on YouTube ↗ |
Manipal Health Enterprises Limited: key numbers
- Share price
- ₹677.05
- Market cap
- ₹89,058 Cr
- Revenue (annual)
- ₹10,336 Cr
- Net profit (annual)
- ₹892.3 Cr
- Promoter holding
- 72.08%
- FII holding
- 3.51%Current quarter
Reference market data from a third-party provider, updated daily. Not a valuation or a recommendation.
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