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Healthcare Global Enterprises announced Q4FY24 & FY24 results:

Q4FY24 Financial Highlights:

• Revenue: Rs 4,946 million 12% YoY
• Adjusted EBITDA: Rs 941 million 21% YoY
• PAT: Rs 213 million  154% YoY

FY24 Financial Highlights:

• Revenue: Rs 19,121 million 13% YoY
• Adjusted EBITDA: Rs 3,374 million 11% YoY
• PAT: Rs 482 million 65% YoY

Commenting on the results, Dr. B.S. Ajaikumar, Executive Chairman, HealthCare Global Enterprises Ltd. said, “We experience a deep sense of fulfilment to report a consistent benchmark-beating performance across all fronts for the quarter and the fiscal year ending FY24. Year after year, HCG has achieved sustainable cancer care outcomes comparable to premier centers in the world, thanks to our unique value-based care model and focused factory approach providing patients with the right treatment at the right time, using best in class talent, knowledge, technology, and infrastructure.

Given the mounting incidence of cancer in recent years, India has prudently enhanced its cancer diagnosis and treatment processes in the guiding light of visionary crusaders like HCG. We prioritize a deep engagement in academics and research alongside an unflinching focus on patient outcomes. In the past year, we have made significant triumphs, including the successful completion if comprehensive genomic profiling for over 1,000 cancer patients, executing complex surgeries, and launching our all-in-one mobile application, among other feats.

Our extensive presence in 18 regions across nine states, with one-third of our centers located in tier-II and tier-III cities, underscores our sterling commitment of providing affordable and quality cancer care for every cancer patient across India. Our ability and agility to build heartfelt relationships with patients is built on a rock-solid foundation of compassion and trust, which truly sets us apart in this crucial sector. As we get ready to lock horns with new challenges and keep pace with the evolving paradigms of tomorrow, we earnestly resolve to make a bigger difference in the lives of patients, our most valued stakeholders.”

Raj Gore, CEO HealthCare Global Enterprises Ltd. added, “We are delighted to report that our revenues grew by 12% for Q4FY24 on YoY basis. Our Adjusted EBIDTA (excl. ESOP cost) for Q4FY24 stood at Rs 94 crore, a growth of 21% YoY, with margins standing at 19.0%, an increase of 140 bps compared to the same period last year.

Over the year, we have taken multiple steps to enhance our operations and improve our profitability. After consistently achieving organic growth for 3-4 years, we're now poised to expedite HCG's expansion through strategic acquisitions. In addition to our expansion efforts in Indore, we are committed to further strengthening our presence in Bangalore. We are currently in the process of establishing two hospitals with 125 beds in North Bangalore and White field area, slated to be operational within the next 12 to 15 months. These state-of-the-art facilities will enhance our capacity to cater to the growing cancer care needs of the region.

Alongside, to enhance the patient experience and streamline access to healthcare services, we have introduced the 'HCG CARE' smart app suite. This innovative platform provides patients with seamless access to their medical records and treatment information with just one click. The app would also help us consistently engage with patients post treatments, to continue monitor adherence to treatment and follow up to improve outcome. Already, the app has benefited over 56,000 outpatients, with active participation from 300 consulting doctors on the digital platform.

Our patient-centric vision continues to guide us in making a meaningful difference in the lives of those we serve by redefining healthcare through global innovation. We pledge to uphold our commitment to “Adding Life to Years” in the coming financial years as well.”

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