Q4 and FY26 Conference call Highlights

FY26 Financial Performance

• Entero Healthcare met all guided financial parameters for FY26.

• Revenue reached INR 6,591 crores, growing 31.5% YoY.

• Organic expansion drove 15.6% of growth, while M&A added 16%.

• Gross margin expanded by 78 bps to 10.3%.

• EBITDA margin achieved the 4.0% target, generating INR 266 crores.

• PAT rose 36% to INR 146 crores.

• ROCE improved to 14.6%, and ROE increased to 12.5%.

• The MedTech segment annualized run-rate surpassed INR 1,000 crores.

Q4FY26 Highlights & Accounting Adjustments

• Q4 revenue grew 42.6% YoY, driven by strong core operations.

• Q4 EBITDA margin expanded to 4.5%.

• Net Working Capital dropped to 59 days from 64 days in Q3.

• Minority interest spiked to ~38% in Q4 due to a temporary subsidiary distortion.

• Absolute Net Worth flatlined due to Ind AS accounting for put option liabilities.

• Management holds call options to buy remaining minority stakes within 3 to 5 years.

FY27 Growth Guidance

• Organic revenue growth is guided at 23% YoY, excluding new M&A.

• Target EBITDA margin is set at 5.0%.

• Cash conversion is mandated at a minimum 50% EBITDA-to-OCF ratio.

• Minority interest is expected to normalize between 25% and 27%.