Q1 FY27 Earnings Conference Call - Transcript

August 07, 2026 To, To, National Stock Exchange of India Ltd. BSE Limited Exchange Plaza, P. J. Towers, Bandra-Kurla Complex, 25th Floor, Dalal Street, Fort Bandra (East), Mumbai-400 051 Mumbai 400 001 Symbol: JLHL Code: 543980 Subject: Q1 FY27 Earnings Conference Call – Transcript Reference: Intimation of Earnings Conference Call dated July 27, 2026 and Audio Link of Analyst/ Investor Conference Call dated August 3, 2026. Dear Sir/ Madam, Pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find enclosed the transcript of the Q1 FY27 Results Conference Call held on Monday, August 3, 2026 at 10.00 AM (IST) for the quarter ended on June 30, 2026. The same will be available on the website of the Company at www.jupiterhospital.com. You are requested to kindly take the afore-mentioned on record and oblige. Thanking you. For JUPITER LIFE LINE HOSPITALS LIMITED Suma Upparatti Company Secretary & Compliance Officer “Jupiter Life Line Hospitals Limited Q1 FY27 Earnings Conference Call” August 03, 2026 “E&OE - This transcript is edited for factual errors. In case of discrepancy, the audio recordings uploaded on the stock exchanges and the Company website on 3rd August 2026 will prevail.” MANAGEMENT: DR. ANKIT THAKKER –MANAGING DIRECTOR AND CHIEF EXECUTIVE OFFICER MR. ANAND APTE – CHIEF OF BUSINESS AND STRATEGY MR. ADITYA GUPTA – SENIOR VICE PRESIDENT CORPORATE AFFAIRS MR. NITIN PATODI – HEAD OF FINANCE SGA – INVESTOR RELATIONS ADVISORS Page 1 of 9 Jupiter Life Line Hospitals Limited August 03, 2026 Moderator: Ladies and gentlemen, good day, and welcome to the Jupiter Life Line Hospitals Limited Q1 FY '27 Earnings Conference Call. As a reminder, all participant lines will be in the listen-only mode. There will be an opportunity for you to ask questions after the presentation concludes. Should you need any assistance during this conference, please signal for an operator by pressing star and then zero on your touchtone telephone. I now hand the conference over to Dr. Ankit Thakker, Managing Director and CEO. Thank you, and over to you, sir. Ankit Thakker: Good morning, everyone. Thank you for joining us this Monday morning for our earnings call for Q1 FY '27. I hope you all had a chance to view our financial results and investor presentation, which were posted on the company's website and the stock exchanges. I'm joined today by Mr. Anand Apte, our Chief of Business and Strategy; Mr. Aditya Gupta, our Senior VP of Corporate Affairs; Mr. Nitin Patodi, our Head of Finance; and SGA our Investor Relations Advisors. The key update from this quarter is that Dombivli Hospital has completed its first full quarter of operations. The reception from both the patient and the medical community has been warm and encouraging. This quarter has contributed to a INR9.5 crores drag on the EBITDA, pretty much in line with anticipation. The other 3 operating hospitals and the 3 upcoming projects are all on track and progressing on similar lines as discussed earlier. So let me directly give you the financial update and then open up the floor for questions. Total income for the quarter stood at INR411 crores in Q1 of FY '27. The EBITDA stood at INR79.3 crores and with a margin of 19.3%. The PAT was INR37.5 crores. The ARPOB for the quarter is INR73,500 and the ALOS is 3.76 days. The average occupancy rate stood at 59.6% this quarter, considering the dilution on account of the expanded base of Dombivli beds. With this, I open the floor for questions. Thank you. Moderator: Thank you very much, sir. The first question from the lines of Dhvani Shah: from DSP. Please go ahead. Dhvani Shah: I had a couple of questions. Firstly, on the Indore unit, how I'm looking at it is the standalone numbers and the consol numbers, the differential. Just wanted to understand, while the revenue growth of 10%, we understand on a higher base last year, the EBITDA margins have come in at a lower 12%. How are we thinking about this? And is there anything specific you want to call out for this quarter? Yes. Ankit Thakker: Hi, Dhvani, so Indore, as I said, we are getting ready for the next phase of expansion. We have had some new team buildup, new doctor hires, etcetera. So the higher cost this quarter is on account of anticipated growth in the rest of the year and higher HR-related costs. Dhvani Shah: Would you be able to quantify this number? Ankit Thakker: I don't have the exact quantified number, but a couple of crores of new hires from Indore. Dhvani Shah: Okay. And just on a like-for-like basis, excluding the INR5 crores revenue on last year in Dombivli and INR9.5 crores loss that we took on, can we expect a 13% to 14% growth in the existing units EBITDA this year as well? Page 2 of 9 Jupiter Life Line Hospitals Limited August 03, 2026 Ankit Thakker: So as I've said earlier, I don't model it on a unit-to-unit basis. But qualitatively, I could help you understand the existing units better. Thane unit is stick around mid-70% occupancy, 75%-odd, which means that it will only improve in line with inflationary pricing, not leaving too much more growth opportunity besides that. The Pune unit has low 60% or mid-60% occupancy. And therefore, besides the pricing, it will grow a little faster than Thane because of occupancy opportunities. And Indore, as I just outlined, we are gearing up to improve our occupancy over the next remaining part of the financial year. So that should grow faster than the other 2. Dhvani Shah: Okay. And just one last accounting question. See, last year in the Q2 numbers, we had seen a change in accounting policy mainly due to the unbilled revenues. How do we think about this affecting the next 2, 3 quarters growth? Or should we not assume anything? Ankit Thakker: So unbilled revenue, honestly, is not a huge factor because it was a onetime factor because of change in policy last quarter. But otherwise, like-for-like, it essentially negates each other out because at the beginning of the quarter, you lose out on part of the revenue. And in the end of the quarter, you gain a part of the unbilled revenue for a steady-state operations like a hospital where there isn't too much of day-to-day revenue volatility or occupancy volatility, it should not really matter too much. So except for that onetime change, where you saw a little higher bump in revenue because it was the first time we recognized unbilled. After that, if you see, it will be largely canceling each other out. Dhvani Shah: Fair. And just one last thing on Dombivli. Just want to understand what kind of fixed costs are we operating on per quarter basis? And are we done with all the doctor hiring in Dombivli? Ankit Thakker: Doctor hiring is an ongoing process. So yes, we have first round of specialists in pretty much all branches in place. But doctor hiring is likely to continue for a couple of years because as we keep adding subspecialties, adding more doctors in each specialty, etcetera. So when you start, you start with a few and you keep adding for the first couple of years. So that is on the doctor hiring question. Fixed cost, I think, should be INR6 crores, INR7 crores for a month currently. Moderator: The next question is from the line of Palkesh Jain from Transparent Value. Palkesh Jain: So like you previously guided for operational EBITDA loss of INR2 crores to INR3 crores per month. So was the guidance based on currently operational 200 beds or did it factor the commissioning of 300 beds? Ankit Thakker: It is based on the currently operating beds. Palkesh Jain: Okay. And one more question. Also the new additional beds becomes operational, so should we expect the EBITDA loss to increase temporarily before improving? Ankit Thakker: So I'll just repeat the thought process, which I have outlined in some of the earlier calls, and this holds true for this project and future projects. The way we think about ramp-up is that in Phase Page 3 of 9 Jupiter Life Line Hospitals [Showing first 8,000 characters — download PDF for full document]