Analysts/Institutional Investor Meet/Con. Call Updates

09.11.2026 To To BSE Limited National Stock Exchange of India Phiroze Jeejeebhoy Towers, Limited 25th Floor, Dalal Street, Listing Department “Exchange Plaza” Mumbai – 400001 C-1, Block G, Bandra Kurla Complex, Scrip Code – 544666 Bandra (E), Mumbai 400051 Scrip Code - GKSL Sub: Transcript of Earnings Call with Analysts / Investors pertaining to the Financial Results of the Company for the quarter and half year ended September 30, 2026 - Disclosure under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. Dear Sir/Madam Pursuant to the provisions of Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, enclosed herewith is the transcript of the Earnings call with Analysts / Investors held on Thursday, November 05, 2026, post declaration of the Financial Results for the quarter and half year ended September 30, 2026. The same has also been disseminated on the website of the Company. We request you to kindly take the above on records. Yours Faithfully For Gujarat Kidney & Superspeciality Limited Pragnesh Bharpoda Managing Director (DIN:01033141) “Gujarat Kidney and Super Speciality Limited Q2 & H1 FY27 Earnings Conference Call” November 05, 2026 MANAGEMENT: MR. PRAGNESH BHARPODA – PROMOTER AND MANAGING DIRECTOR– KIDNEY AND SUPER SPECIALITY LIMITED MS. BHAVIKABEN MITESH PATEL – CHIEF FINANCIAL OFFICER – KIDNEY AND SUPER SPECIALITY LIMITED MODERATOR: MS. SOUMYA CHHAJED – GO INDIA ADVISORS LLP Page 1 of 10 Gujarat Kidney and Super Speciality Limited November 05, 2026 Moderator: Ladies and gentlemen, good day and welcome to Gujarat Kidney and Super Speciality Limited Q2 FY27 Earnings Conference call hosted by Go India Advisors LLP. As a reminder, all participant lines will be in the listen-only mode and there will be an opportunity for you to ask questions after the presentation concludes. Should you need assistance during this conference call, please signal an operator by pressing star then zero on your touchtone phone. Please note that this conference is being recorded. I now hand the conference over to Ms. Soumya Chhajed from Go India Advisors LLP. Thank you and over to you, ma’am. Soumya Chhajed: Good day everyone and welcome to Q2 and H1 FY27 Earnings Conference call of Gujarat Kidney and Super Specialty Chemicals Limited. We have on call with us Mr. Pragnesh, Promoter and Managing Director, Ms. Bhavika, the Chief Financial Officer and Mr. Nazir, Consultant CA. We must remind you that discussion on today's call may include certain forward-looking statements and must be therefore viewed in conjunction with the risk pertaining to the business. I now request the management to take us through the same and provide some insight on the quarter gone by. Post that, we'll open the floor for Q&A. Thank you, and over to you, sir. Pragnesh Bharpoda: Yes, good morning to everyone. Myself, Dr. Pragnesh Bharpoda, Chairman and Managing Director for Gujarat Kidney and Super Specialties Limited. In future, in this perspective we will call it as a GKSL. A very good afternoon to everyone. It gives me a great pleasure to welcome our shareholders, investors, analysts and the stakeholders to our first earning call as a listed company. On behalf of the entire GKSL team, thank you for your trust and support. It has shaped this journey and we look forward to a transparent and regular dialogue with you. Our journey began in 2014 with Gujarat Kidney Hospital in Vadodara, a single specialty center focused on renal care. Over the past decade, we have built the business on the three things: deep clinical specialization, disciplined capacity expansion and selective acquisitions of well-established hospitals. Today we are operating in 11 hospitals with 10 pharmacies in 9 cities. That gives us a clinical bench and physical capacity to serve the patients across the full care continuum from the outpatient consultation to the complex surgery. Our core strength remains renal science and urology at our main center, that is the Gujarat Kidney Hospital. Our capabilities span endourology, urologic oncology, pediatric and reconstructive urology, renal transplant and laparoscopic urology. These are the high-required and high-skilled procedures and they anchor our reputations and referral source. Building on this base, we have expanded into cardiology, oncology, orthopedic, OB-GYN and general surgery. This has broadened our patient base, improved our case mix and reduced our dependency on any single specialty. Our business is an asset-light model, acquisitions-led model, combined leased facility with controlling stakes in established hospitals. It leads us enter a new market faster and with lower upfront capital than a purely Greenfield approach and we acquire hospitals that already have a patient base and clinical credibility. Page 2 of 10 Gujarat Kidney and Super Speciality Limited November 05, 2026 We keep the clinical protocols, operating discipline and specialty focus that define GKSL. So each addition strengthens the network instead of simply adding the bed. Coming to the results, this model has delivered a strong growth. Consolidated revenue rise from INR40.2 crores in FY25 to INR80 crores in FY26, up to 104 percentage year-on-year. EBITDA reached approximately INR27 crores and PAT approximately INR17 crores, growing 63% and 77% respectively. Our EBITDA margin of 32.8% was the best among our listed peers against an average of approximately 24.3 percentage. PAT margin stood at 20.05%. This reflects our specialty list, case mix and our cost discipline method. In FY26, average bed occupancy was approximately 65 percentage and average revenue per occupied bed was approximately 9,221 per day. Occupancy at 65 percentage means we still have a meaningful headroom to grow within our existing capacity, which is a lever on revenue and margin as the network matures. In H1 FY27, consolidated revenues from operations stood at INR72.4 crores up to 157 percentage year-on-year from INR28.2 crores in H1 FY26. In just 6 months, that is already 88 percentage of our full year '26 revenue. EBITDA was INR18.6 crores, up to 35 percentage year- on-year, with an EBITDA margin of approximately 25.7 and PAT was INR11.9 crores, up to 44 percentage year-on-year, and PAT margin of approximately 16.5 percentage. In quarter 2 of FY27 shows the momentum building. Revenue was INR38.1 crores, up to 11 percentage quarter-on-quarter and 195 percentage year-on-year. EBITDA grew 22 percentage quarter-on-quarter to INR10.2 crores and our EBITDA margin expanding to 26.8 percentage from 24.4 percentage in quarter 1. As revenue grew faster than our operating cost, paid was INR6.6 crores, up to 24 percentage quarter on quarter and 129 percentage year-on-year compared with the last year. Margin reflects the consolidations of the hospital we acquired during '26, which we are now upgrading subsequently. They are moving in the right direction. Our balance sheet gives us the room to keep executing. As of 30th September 2026, our net worth stood at INR263.6 crores, and we are net cash with cash and bank balance of INR32.2 crores against borrowing of INR17.3 crores. During the half, we deployed approximately INR16.7 crores towards acquisition and INR6.2 crores in capital expenditure, while operating cash flow turned positive. Now going forward, we are focused on 3 priorities. First, upgrading to our existing hospital that already we have done and we are doing, and which is also under pipeline. Second, pursuing the selective inorganic opportunities that also we are doing. And third, capturing a larger share of patient journey. This means OPD and diagnostic, IPD and ICU, surgery, pharmacies, and follow-up. Retaining the patients across these touch points improves utilization, deepens engagement, and supports revenue per patient. We acquired one international, international opportunity like in Dubai. Another important oppo [Showing first 8,000 characters — download PDF for full document]