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Medi Assist Healthcare Services Ltd

| Statement Of Audited Consolidated Financial Results For The Quarter And Year Ended 31 March 2026

Report Source

⬤9th May 26

Summary : Medi Assist reported increased revenue, but lower profit due to exceptional items and acquisition costs, while resolving legal issues and recommending dividend.

Quarterly Report Analysis & Insights

Financial Disclosures

  1. Consolidated Total Expenses: 8,286.97 million (FY26) vs 6,352.91 million (FY25)
  2. Consolidated Revenue from operations: 9,047.67 million (FY26) vs 7,233.21 million (FY25)
  3. Consolidated Net cash from operating activities: 1,180.71 million (FY26)
  4. Consolidated Net cash used in investing activities: (1,596.34) million (FY26) due to acquisition
  5. Consolidated Net cash from financing activities: 118.45 million (FY26) including preferential allotment
  6. Consolidated Total Assets: 13,724.62 million (FY26) vs 11,582.27 million (FY25)
  7. Consolidated Goodwill increased significantly to 3,514.40 million (FY26)
  8. Consolidated Other equity increased to 8,015.98 million (FY26)
  9. Preferential allotment of shares to Massachusetts Institute of Technology and 238 Plan Associates LLC
  10. Consolidated results include several subsidiaries and step-down subsidiaries
  11. Standalone results show lower revenue and expenses compared to consolidated figures

Corporate Overview

  1. India
  2. Cyber-security incident at a step-down subsidiary
  3. Impact of new Labour Codes on employee benefits
  4. Provision for disallowed claims by a subsidiary
  5. Enforcement Directorate search at a wholly-owned subsidiary
  6. Health management services
  7. Third-party administrator (TPA) services
  8. Factual reporting of financial results and operational events
  9. Health management services (single reportable segment)
  10. Acquisition of 100% equity stake in Paramount Health Services & Insurance TPA Private Limited

Risk Factors

  1. Enforcement Directorate search at subsidiary.
  2. Cyber-security incident impacted subsidiary systems.
  3. New Labour Codes increased employee costs.
  4. Provision made for disallowed claims.

Key Drivers

  1. Paramount Health Services acquisition completed.
  2. Preferential equity allotment raised capital.
  3. Ex-employee arbitration case settled.
  4. Board recommended final dividend.

Auditor’s Report

  1. Unmodified opinion on consolidated financial results
  2. Unmodified opinion on standalone financial results
  3. Search and seizure operation by Directorate of Enforcement at a wholly owned subsidiary (MAITPA). Management believes no adverse impact.

Board Commentary

  1. Board recommended final dividend of Rs. 2 per equity share for FY26
  2. Cyber-security incident at Paramount TPA
  3. Impact of new Labour Codes on employee benefits
  4. Provision for disallowed claims by MAITPA
  5. Arbitration case with ex-employee settled amicably
  6. Enforcement Directorate search at a wholly-owned subsidiary
  7. Acquisition of Paramount Health Services & Insurance TPA Private Limited for Rs. 4,124.40 million
  8. Preferential allotment of equity shares raising Rs. 1,980.03 million

Corporate Governance

  1. Audit Committee reviewed and recommended financial results

Management Discussion & Analysis

Future Strategy

  1. Scheme of Merger by Absorption of Paramount TPA with the Company (subject to approvals)

Operational Focus Areas

  1. System restoration and cyber-forensic activities post incident
  2. Review and reconciliation of disallowed claims

Performance Drivers

  1. Increased revenue from operations
  2. Strategic acquisition of Paramount Health Services

Risk Control Measures

  1. Lodged insurance claim for cyber incident costs
  2. Lodged insurance claim for disallowed claims
  3. Co-operated with Enforcement Directorate officials

Critical Risks

  1. Potential impact of Enforcement Directorate investigation
  2. Financial impact from cyber-security incidents
  3. Increased employee costs due to new Labour Codes
  4. Provisions for alleged disallowed claims