Yatharth Hospitals — Q1 FY26: growth intact, noise near-term

07 Aug 2025·YATHARTH·Accumulate·HealthcareFront Wave desk · Mumbai

Since we called it

₹977 at close

Called ₹525 · 07 Aug 2025

The print

Tier-2/3 hospital expansion plays out over a multi-year horizon. Q1 confirms operating discipline even as greenfield ramp-up compresses near-term margins.

What matters

Occupancy building on schedule at the new units
ARPOB trending up without payor-mix deterioration
The bed-addition pipeline remains funded and on calendar

Subscribers only

The rest of this note is for subscribers.

What follows is the argument in full, the numbers behind it, and where we think we could be wrong. ₹10,000 a quarter, or a year for the price of three.

See the plans →Already a subscriber? Sign in

Front Wave Research LLP · SEBI Registered Research Analyst · INH000018407. This note is research, not investment advice. Investments in securities markets are subject to market risks. Read all related documents carefully before investing.

More from the desk

Archive →