Analysts/Institutional Investor Meet/Con. Call Updates

November 09, 2026 National Stock Exchange of India Limited, BSE Limited, Compliance Department, Compliance Department, Exchange Plaza, Bandra Kurla Complex, Phiroze Jeejeebhoy Towers, Bandra (East), Mumbai - 400051, Dalal Street, Mumbai - 400001, Maharashtra, India Maharashtra, India Subject : Transcript of the Earnings Call held with Analysts/Investors on November 06, 2026 to discuss the Unaudited Financial Results of the Company for the quarter and six months ended September 30, 2026 Stock Code : BSE – 539787, NSE – HCG Reference : Regulation 30 read with Schedule III of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 Dear Sir/Madam, Please see attached herewith the Transcript of the Earnings Call held on November 06, 2026, with Analysts/Investors to discuss the Unaudited Financial Results (both Standalone & Consolidated) of the Company for the quarter and six months ended September 30, 2026. This is also available on the website of the Company - https://www.hcgoncology.com/investor- relations/ Kindly take the intimation on record. Thanking you, For HealthCare Global Enterprises Limited Sunu Manuel Company Secretary & Compliance Officer Encl:a/a HealthCare Global Enterprises Limited Reg Off: HCG Towers #8, P. Kalinga Rao Road, Sampangi Ram Nagar, Bengaluru - 560 027 Corp Off: #3, G-Floor, Tower Block, Unity Buildings Complex, Mission Road, Bengaluru - 560 027, Karnataka, India 91 80 4660 7700 | Email-query@hcgel.com | Website - www.hcgoncology.com | CIN: L15200KA1998PLC023489 Ahmedabad | Bengaluru | Bhavnagar | Chennai | Cuttack | Hubballi | Indore | Jaipur | Kalaburagi | Kenya | Kolkata | Mumbai | Nagpur | Nashik | Ongole | Rajkot | Ranchi | Shimoga | Vadodara | Vijayawada | Vizag HealthCare Global Enterprises Limited Q2 & H1 FY27 Earnings Conference Call November 06, 2026 Moderator: Ladies and gentlemen, good day, and welcome to the HealthCare Global Enterprises Limited Earnings Conference Call. Please note that this conference is being recorded. I now hand the conference over to Mr. Anoop Poojari from CDR India. Anoop Poojari: Thank you. Good afternoon, everyone, and thank you for joining us on HealthCare Global Enterprises Q2 and H1 FY 2027 earnings conference call. We have with us Dr. Manish Mattoo, Executive Director and CEO of the company, Mr. Sanjeev Kumar, Chief Financial Officer, and Mr. Ravi Gothwal, Head of Investor Relations. We would like to begin the call with opening remarks from Manish, following which we will have the forum open for an interactive question- and-answer session. Before we start, I would like to point out that some statements made in today's call may be forward-looking in nature, and a disclaimer to this effect has been included in the earnings presentation shared with you earlier. I would now like to invite Manish to make his opening remarks. Manish Mattoo: Thank you, Anoop. Good afternoon, everyone, and thank you for joining us for HCG's Quarter 2 and H1 FY27 earnings call. I am pleased to share that we have sustained our growth momentum into the second quarter, supported by healthy patient demand and improving revenue mix, and steady progress across our strategic and operational priorities. As highlighted in our previous earnings call, our strategic priorities remain centered on profitable growth, improving asset utilization, strengthening clinical differentiation, and optimizing our revenue mix. We are encouraged by the progress made during the quarter across all these areas. Coming to our financial performance, I would like to highlight that all financial figures presented today exclude the Milann Fertility business, which was divested in June 2026. The corresponding prior-year figures have also been adjusted accordingly to ensure a like-for-like comparison. In Quarter 2 FY 2027, HCG delivered revenue of INR 7,318 million, representing a growth of 16% year- on- year. Revenue growth, excluding our North Bengaluru new hospital, was 14% Page 1 of 14 year- on- year. The growth was broad-based across our operating clusters, primarily driven by a 9% increase in patient volumes, while average revenue per patient increased by 7% year-on- year. The improvement in ARPP was supported by a favorable payor mix and an increasing contribution from high-complexity oncology treatments. This included a 37% year-on-year increase in robotic surgeries, alongside growing adoption of other advanced therapies and surgical procedures across our network. As we have consistently emphasized, our objective is not merely to drive higher patient volumes, but to enhance the quantity and quality of our revenues through a greater contribution from complex oncology procedures and improved payor mix, superior clinical outcomes, and higher productivity across our specialized oncology ecosystem. In line with this strategy, we continue to focus on expanding our non-institutional business while progressively optimizing our exposure to lower-realization segments. These efforts are yielding encouraging results, with non-institutional revenue growing by 21% year-on-year, resulting in an improvement of over 300 basis points in its revenue share to 69%. On the profitability front, EBITDA for the quarter, including North Bengaluru loss of INR 61 million, was INR 1,425 million, representing growth of 17% year-on-year, with EBITDA margins improved to 19.7% compared to 19.2% in Q2FY26. While we continue to benefit from improving revenue quality and operating efficiencies, margin expansion during the quarter was partly moderated due to incremental employee cost amounting to approximately INR 60 million on account of revision in Karnataka Wage Act 2026. If you really look at it on a like-to-like basis, excluding the wage revision impact, EBITDA growth was over 20% year-on-year. North Bengaluru, our newest hospital, continued to make good progress, with its EBITDA loss reducing to INR 61 million during this quarter. Our focus remains on accelerating clinical ramp-up, improving capacity utilization, and progressively reducing operating losses. Let me now take you through the performance across our operating clusters. Starting with the South cluster, the revenue stood at INR 2,941 million. Delivering a strong growth of 18% and contributing to 40% of our overall revenue. Growth was supported by a 14% improvement in ARPP and a 4% increase in patient volumes, with a strong contribution from our Bengaluru Center of Excellence and the progressive ramp-up of our North Bengaluru hospital. ARPP improvement across the cluster was also aided by a favorable payor mix and higher contribution of high-end procedures and therapies. Moving to the West cluster. Revenue stood at INR 3,147 million, registering 10% year-on-year growth and contributing 43% to overall revenue. Growth was primarily driven by a 7% increase in patient volumes, while ARPP improved by 3%, supported by a favorable payor mix. Page 2 of 14 The Maharashtra region delivered a strong performance with a mid-teens growth, driven by healthy patient demand and improved realization, led by a favorable payor mix shift. This was partially offset by relatively moderated growth across our Gujarat centers, largely on account of deliberate rationalization of institutional mix to improve profitability. Turning to the East cluster. Revenue stood at INR 928 million, representing 23% year-on-year growth and contributing 11% to our overall revenue. Growth was led by a 18% increase in patient volumes, while ARPP improved by 5% year-on-year. Growth was broad-based across the region, led by a strong performance at Ranchi. Our international Kenya operations, the revenue stood at INR 302 million, registering approximately 54% year-on-year growth during the quarter. Performance was supported by stronger patient inflows across radiation oncology, aided by the addition of a new radiation therapy machine, as well as increased medical oncology therapies following the addition of 13 new beds. I would also like [Showing first 8,000 characters — download PDF for full document]