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Indraprastha Medical Corporation Ltd

| Quarterly Financial Results Q3 FY 2025-26

NEUTRAL SENTIMENT

Report Source

⬤3rd Feb 26

Summary : Indraprastha Medical Corporation reported strong Q3 and 9M FY26 financial results, appointed/re-appointed four independent directors, and is addressing a pending Supreme Court land lease matter.

Quarterly Report Analysis & Insights

Financial Disclosures

  1. Cost of materials consumed: Q3 FY26: Rs. 63.75 Cr; 9M FY26: Rs. 192.04 Cr.
  2. Employee benefits expense: Q3 FY26: Rs. 74.89 Cr; 9M FY26: Rs. 213.42 Cr.
  3. Professional charges to doctors: Q3 FY26: Rs. 95.46 Cr; 9M FY26: Rs. 292.80 Cr.
  4. Finance costs: Q3 FY26: Rs. 1.46 Cr; 9M FY26: Rs. 4.53 Cr.
  5. Depreciation and amortisation expense: Q3 FY26: Rs. 11.25 Cr; 9M FY26: Rs. 32.29 Cr.
  6. Other expenses: Q3 FY26: Rs. 75.56 Cr; 9M FY26: Rs. 213.03 Cr.
  7. Total expenses: Q3 FY26: Rs. 322.37 Cr; 9M FY26: Rs. 948.11 Cr.
  8. Incremental estimated liability due to New Labour Codes: Rs. 2.87 crores in current quarter.
  9. Revenue from operations: Q3 FY26: Rs. 371.61 Cr; 9M FY26: Rs. 1117.70 Cr.
  10. Other income: Q3 FY26: Rs. 7.15 Cr; 9M FY26: Rs. 21.42 Cr.
  11. Pending Free Patient Matter (SLP (C) No. 29482/2009) before the Supreme Court.
  12. Paid-up equity share capital: Rs. 91.67 Cr.
  13. Reserves (excluding Revaluation Reserves) as of previous year: Rs. 505.01 Cr.
  14. Standalone results, as the company has no subsidiaries, associates, or joint ventures.

Corporate Overview

  1. Regd. Office: Sarita Vihar, Delhi-Mathura Road, New Delhi – 110 076 (India).
  2. Hospital located at Sarita Vihar, Delhi.
  3. Pending Free Patient Matter (SLP (C) No. 29482/2009) with the Hon'ble Supreme Court concerning the lease of land for the hospital.
  4. Operates in the healthcare sector, specifically as Indraprastha Apollo Hospitals.
  5. Factual and compliant, reporting board meeting outcomes and financial results.
  6. Single operating segment: Healthcare.

Risk Factors

  1. Supreme Court case on hospital land lease.
  2. Uncertain financial impact from legal proceedings.
  3. Regulatory changes may increase operational costs.
  4. Intense competition within healthcare industry.

Key Drivers

  1. Strong Q3 and 9M financial performance.
  2. Experienced independent directors enhance governance.
  3. Growth in the Indian healthcare sector.
  4. Proactive compliance with new labor laws.

Auditor’s Report

  1. Unqualified review conclusion, stating no material misstatement found in unaudited financial results.

Board Commentary

  1. Appointed Mr. Harsh Pati Singhania as an Independent Director for 5 years (Feb 2026 - Feb 2031).
  2. Re-appointed Mr. Salil Singhal as an Independent Director for 5 years (Feb 2026 - Feb 2031).
  3. Re-appointed Ms. Vineeta Rai as an Independent Director for 5 years (Feb 2026 - Feb 2031).
  4. Re-appointed Ms. Madhumita Ganguli as an Independent Director for 5 years (June 2026 - June 2031).
  5. Pending Supreme Court case regarding the lease of land for the hospital.
  6. Noted additional Affidavit filed by Govt. of NCT of Delhi in the pending Free Patient Matter (SLP (C) No. 29482/2009).
  7. Accounted for incremental estimated liability of Rs. 2.87 crores due to new Labour Codes effective 21st November 2025.

Corporate Governance

  1. Independent directors' profiles highlight integrity, sound judgment, and ethical standards.
  2. Four independent directors appointed/re-appointed, enhancing board oversight.
  3. Independent directors bring extensive experience in governance and risk management.
  4. Nomination and Remuneration Committee recommended director appointments.
  5. Independent Director actively contributes to Audit, Risk, Fraud, and Complaints Committee.

Management Discussion & Analysis

Future Strategy

  1. Reviewing contents of the affidavit in the Free Patient Matter and taking appropriate steps in accordance with law.

Performance Drivers

  1. Growth in revenue from operations and profit after tax for Q3 and nine months ended December 2025.

Risk Control Measures

  1. Company is reviewing the affidavit and will take appropriate legal steps.

Critical Risks

  1. Legal proceedings related to the Free Patient Matter and the lease of hospital land.
Indraprastha Medical Corporation Ltd (INDRAMEDCO) Quarterly Report Analysis & Insights | Dhanarthi