“MARGINS WILL EXPAND IN THE CURRENT YEAR”

Abhay Soi, CMD, Max Healthcare, on Q4 results, the company's outlook, and key growth drivers

- BY SAKSHI BATRA

WITH 18 STRAIGHT quarters of growth, aggressive capacity expansion, and rising international traction, Abhay Soi, CMD of Max Healthcare, talks about growth levers driving the company toward ambitious 10,000-bed milestone. Edited excerpts:

How did Q4FY25 earnings pan out?

Q4FY25 has been the 18th consecutive quarter of year-on-year growth for us, and this has been in line with our expectations. We saw a 29% increase in revenue, 26% rise in Ebitda, and a 21% growth in profit after tax.

In the last one year, we strategically acquired three hospitals. Two in the beginning of the year—we acquired Alexis Hospital Nagpur (now Max Nagpur) and Sahara Hospital Lucknow (Max Lucknow). Later in the year, in November, we completed the acquisition of Jaypee Hospital (now Max Hospital, Noida). These acquisitions have helped us ramp up our capacity bynearly 30%.

What is the outlook on Ebitda per bed, occupancy levels, ARPOB (Average Revenue Per Occupied Bed) in FY26?

If we look at Ebitda per bed for existing hospitals on a like-for-like basis, we have seen an 8% increase, bringing it to around ₹78 lakh.