• Financial performance: Revenue grew 76% to around ₹2,600 crore, EBITDA rose 43% to ₹510 crore, and net profit increased 16% to ₹228 crore, while overall margins compressed from 24% to 20%.
• Margin dilution drivers: The margin decline was primarily caused by the consolidation of the lower-margin UK acquisition and gestation costs in the Cayman insurance segment, with underlying group margins standing at nearly 22% excluding pre-acquisition expenses.
• Cayman operations: Required capital expansion in Cayman is complete following the commissioning of a new hospital, with the market and insurance business now entering a stable state expected to deliver steady organic growth.
• FY27 growth outlook: The company expects meaningful organic growth and strong cash flow in FY27 across all regions, relying on increased throughput in India within existing capacity alongside six announced hospital projects.