Jupiter Life Line Hospitals (JLHL IN) – Q1FY27 Result Update – Margins to improve – BUY
Published on 04 Aug 2026
JLHL’s Q1 consolidated EBITDA grew by 1% YoY to Rs 793mn; we est at INR 830mn. Adjusted for Dombivli unit loss; EBITDA growth was at 13% YoY. We expect base business growth to pick up as occupancy and margin improves acorss Pune and Indore unit. Its operational efficiency has been strong in the competitive markets of MMR. The company reported revenue/EBITDA CAGR of ~20% over FY23-26. Given its expansion plans, scale-up in occupancy and improving margins, growth momentum is expected to sustain over the medium term. We believe strategic greenfield expansions in densely populated micro-markets of western regions will drive sustainable growth. Our FY27E and FY28E EBITDA broadly remain unchanged. Overall, we see 17%/10% CAGR in EBITDA/PAT over FY26-28E. Maintain ‘BUY’ rating with a TP of Rs360/share, valuing at 26x EV/EBITDA based on FY28E EBITDA.
