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Medi Assist Healthcare Services Results: Latest Quarterly Results & Analysis

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Medi Assist Healthcare Services Ltd. 05 Nov 2025 18:23 PM
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Q2FY26 Quarterly Result Announced for Medi Assist Healthcare Services Ltd.

Healthcare Services company Medi Assist Healthcare Services announced Q2FY26 results

  • Total Income was Rs 234.8 crore, a growth of 25.5% over Q2FY25.
  • Revenue from contracts with customers, excluding other income (“Operating Revenue”) was Rs 232.5 crore, a growth of 28.6% over Q2FY25
  • Revenue from contracts with customers included:
    • 12.6% from Government business.
    • 4.3% from the International Benefits administration business.
    • 2.0% from Technology SaaS services.
  • EBITDA excluding Other Income (“Operating EBITDA”) was Rs 39.7 crore:
    • including Paramount related consolidation and integration costs amounting to 150 bps of EBITDA margin.
    • incremental technology investments to the tune of 100 bps.
    • a growth of 3.3% YoY.
    • a margin of 17.1% on Operating Revenue.
  • Profit for the period (“PAT”) was Rs 8.1 crore impacted by:
    • adjusting for Paramount acquisition financing, incremental Depreciation and Amortization and higher Effective tax rate (ETR), estimated PAT is in line with historical performance.
    • decline of 61.5% on reported PAT YoY.
    • a margin of 3.4% on Total Income.

Satish Gidugu, CEO, said: “We are encouraged by the ongoing transformation in the health insurance segment, driven by technology and strategic partnerships that enhance efficiency, access, and trust. This half year’s milestones—including the completion of the acquisition of Paramount TPA, our collaboration with Star Health & Allied Insurance, expansion of our international benefits administration footprint and the investment from MIT—demonstrate strong confidence in Medi Assist’s vision and capabilities. These achievements reinforce our dedication to building a sustainable, tech-driven ecosystem that delivers lasting value for all stakeholders.”

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Healthcare Services company Medi Assist Healthcare Services announced Q1FY26 results

  • Total Income was Rs 198.0 crore, a growth of 14.5% over Q1FY25.
  • Revenue from contracts with customers, excluding other income (“Operating Revenue”) was Rs 190.6 crore, a growth of 13.6% over Q1FY25.
  • EBITDA excluding Other Income (“Operating EBITDA”) was Rs 42.0 crore:, a growth of 19.3% YoY.
  • EBITFA margin of 22.0% on Operating Revenue.
  • Profit for the period (“PAT”) was 22.6 Rs crore, a growth of 18.7% on reported PAT YoY.
  • PAT margin of 11.4% on Total Income.
  • Key Balance sheet and KPIs as on 30th June’ 2025 were as follows:
    • Net cash balance in the books was Rs 312.6 crore.
    • Net Worth was Rs 577.4 crore; Return on Net Worth was 15.7% annualized (3.9% for Q1- FY26).
    • Return on Capital Employed was and 21.0% annualized (5.3% for Q1FY26).
    • Revenue per average headcount (on non-government contracts) was 14.9 lakh annualized (Rs 3.7 lakh for Q1FY26).

Satish Gidugu, CEO, said: “We have reported a strong start to FY26, in what has been a defining quarter for our growth. We successfully completed the acquisition of Paramount TPA, the largest TPA acquisition in the country. Our strategic partnership with Star Health is a testament to the strength of our tech stack. Our Group business witnessed phenomenal growth driven by seamless onboarding experiences and demonstrable savings on Fraud, Waste & Abuse and effective medical inflation management. As the health insurance ecosystem evolves, we’re doubling down on our investments in AI to simplify administration, drive efficiency, and create meaningful value for policyholders”.

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Healthcare Services company Medi Assist Healthcare Services announced Q4FY25 & FY25 results

Q4FY25 Financial Highlights:

  • Total Income was Rs 196.6 crore, a growth of 14.9% over the corresponding period of the previous year
  • Revenue from contracts with customers, excluding other income (“Operating Revenue”) was Rs 188.9 crore, a growth of 13.2% over the corresponding period of the previous year
  • EBITDA excluding Other Income (“Operating EBITDA”) was Rs 40.7 crore:
  • Profit for the period (“PAT”) was Rs 21.6 crore:

FY25 Financial Highlights:

  • Total Income was Rs 747.1 crore, a growth of 14.4% over the corresponding period of the previous year
  • Revenue from contracts with customers, excluding other income (“Operating Revenue”) was Rs 723.3 crore, a growth of 14.0% over the corresponding period of the previous year
  • Profit for the period (“PAT”) was Rs 91.6 crore:
  • Key Balance sheet and operating metrics as on 31st Mar’ 2025 were as follows:
    • Net cash balance in the books was Rs 312.2 crore
    • Net Worth was Rs 552.2 crore; Return on Net Worth was 16.6%
    • Revenue per average headcount (on non-government contracts) was Rs 14.2 lakh annualised

Satish Gidugu, CEO, said, "We are pleased to report strong FY2025 performance, demonstrating resilience amidst a challenging macroeconomic environment. Through strategic investments in AI and a steadfast commitment to operational excellence, we are strengthening our partnerships with insurers and enabling superior outcomes to the policyholders. As the health insurance ecosystem continues to evolve, we remain dedicated to leveraging technology to streamline health benefits, improve efficiency, and deliver enhanced value. We are also excited to welcome the Paramount TPA team, which will further strengthen our panIndia presence.”

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Healthcare Services company Medi Assist Healthcare Services announced H1FY25 results

Financial Highlights:

  • Total Income was Rs 360.0 crore, a growth of 15.4% over the corresponding period of the previous year.
  • Revenue from contracts with customers excluding other income (“Operating Revenue”) was Rs 348.5 crore, a growth of 15.4% over the corresponding period of the previous year.
  • Revenue from contracts with customers included:
    • 9.8% from Government business.
    • 4.7% from International benefits business.
  • EBITDA excluding Other Income (“Operating EBITDA”) was Rs 73.7 crore.
    • a growth of 18.1% YoY.
    • a margin of 21.1% on Operating Revenue.
  • Profit for the period (“PAT”) was Rs 40.0 crore:
    • a growth of 65.0% on reported PAT YoY.
    • a margin of 11.1% on Total Income.
  • Key Balance sheet and operating metrics as on 30th Sept.’ 2024 were as follows:
    • Net cash balance in the books was Rs 300.9 crore.
    • Net Worth was Rs 498.5 crore; Return on Net Worth was 8.0% for H1FY25 and 16.0% annualised.
    • Return on Capital Employed was 9.6% for H1FY25 and 19.2% annualised.
    • Revenue per average headcount (on non-government contracts) was Rs 7.0 lakh and Rs 14.0 lakh annualised.

Operational Highlights:

  • Total Premium under Management (“PUM”) administered was Rs 10,583 crore as on 30th Sep’2024, a growth of 18.1% YoY.
    • Group PUM was Rs 9,343 crore, a growth of 15.6% YoY.
    • Retail PUM was Rs 1,240 crore, a growth of 41.2% YoY.
  • Market share in terms of health insurance premium administered (Group Retail), of the total health premium in India, was 19.2% as on 30th Sep’2024, as against 18.5% as on 30th Sept.’ 2023.
    • Group segment market share was 28.4%, as against 27.3% as on 30th Sept.’ 2023.
    • Retail segment market share was 5.6%, as against 4.7% as on 30th Sept.’ 2023.

Satish Gidugu, CEO, Medi Assist Healthcare Services, said: “We are pleased with our steady growth in a seasonally soft quarter for the industry. As the synergies from acquisitions continue to accrue, our margins are seeing an uptick. Further to regulatory initiatives, we are upbeat about the prospects of the health insurance ecosystem and the opportunities for Medi Assist to play a pivotal role. We are focused on delivering technology backed solutions to significantly enhance policyholder experience while eliminating Fraud, waste, and abuse in health claims.”

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Healthcare Services company Medi Assist Healthcare Services announced Q4FY24 & FY24 results:

Q4FY24 Financial Highlights:

  • Total Income is Rs 171.1 crore, a growth of 22.9% over the corresponding quarter of the previous year
  • Revenue from contracts with customers excluding other income (“Operating Revenue”) is Rs 166.8 crore, a growth of 22.6% over the corresponding quarter of the previous year
  • Revenue from contracts with customers included:
    • 11.4% from Government business
    • 5.2% from International benefits business
  • EBITDA excluding Other Income (“Operating EBITDA”) is Rs 37.0 crore
    • a growth 20.7% YoY over the corresponding quarter of the previous year
    • a margin of 22.2% on Operating Revenue
  • Profit after tax is Rs 25.7 crore, at 15% Margin on Total Income
    • a growth of 50.6% YoY over the corresponding quarter of the previous year
    • a margin improvement of 277bps YoY

FY24 Financial Highlights:

  • Revenue from contracts with customers excluding other income (“Operating Revenue”) is Rs 634.7 crore, a growth of 25.7% over the previous year
  • Revenue from contracts with customers included:
    • 10.1% from Government business
    • 5.8% from international benefits business
  • EBITDA excluding Other Income (“Operating EBITDA”) is Rs 133.3 crore
    • a growth of 11.7% YoY over the previous year
    • a margin of 21.0% on Operating Revenue
  • Profit for the period (adjusting for exceptional item) is Rs 92.3 crore
    • a growth of 22.6% over the previous year
    • a margin of 14.1% on Total Income
  • Key Balance sheet and operating metrics for FY24 are as follows:
    • Net cash balance in the books is Rs 245 crore
    • Net Worth is Rs 481 crore, Return on Net Worth is 19.2%
    • Return on Capital employed is 20.4%
    • Revenue per average headcount (on non-government contracts) is Rs 1.38 million

Satish Gidugu, CEO, said, “Medi Assist has delivered another year of strong growth, with a 3 year revenue CAGR of over 25%, backed by the trust we continue to enjoy from our customers. Our organic growth clubbed with successful integration of acquisitions stand testament to our performance.”

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Healthcare services company Medi Assist Healthcare Services announced Q3FY24 & 9MFY24 results:

Financial Highlights for Q3FY24:

  • Total Income was Rs 169.8 crore, a growth of 29.2% with respect to Q3FY23.
  • Revenue from contracts with customers (“Operating Revenue”) was Rs 165.9 crore, a growth of 32.3% with respect to Q3FY23.
  • Adjusted Earnings Before Interest Taxes, Depreciation and Amortization excluding Other Income (“Operating EBITDA”) was Rs 33.9 crore, a growth of 10.4% with respect to Q3FY23.
  • EBITDA margin calculated as Operating EBITDA divided by Operating Revenue was 20.4% for the quarter.
  • Profit for the period was Rs 21.3 crore, flat over the corresponding period of the previous year
  • Profit margin as a percentage of Total Income was 12.5%.

Financial Highlights for 9MFY24:

  • Total Income was Rs 481.9 crore, a growth of 26.9% over the corresponding period of the previous year.
  • Revenue from contracts with customers (“Operating Revenue”) was Rs 467.9 crore, a growth of 26.8% over the corresponding period of the previous year.
  • Earnings Before Interest Taxes Depreciation and Amortization excluding Other Income (“Operating EBITDA”) was Rs 96.3 crore, a growth of 8.6% over the corresponding period of the previous year.
  • EBITDA margin calculated as Operating EBITDA divided by Operating Revenue was 20.6% for the period.
  • Profit for the period excluding exceptional item was Rs 66.6 crore, a growth of 14.3% over the corresponding period of the previous year.
  • Profit margin as a percentage of Total Income was 13.8%.
  • The net cash balance in the books of the company was Rs 167.7 crore.
  • Net worth was Rs 439.3 crore, return on net worth was 10.3%, and Return on Capital employed was 16.2% from continuing operations.

Operational Highlights for 9MFY24:

  • Total premiums under management for the company was Rs 14,163 crore, a growth of 35.7% over the corresponding period of the previous year.
  • Premiums under management for the company with respect to the Group segment was Rs 12,352 crore, a growth of 34.5% over the corresponding period of the previous year.
  • Premiums under management for the company with respect to the Retail segment was Rs 1,811 crore, a growth of 45% over the corresponding period of the previous year.
  • Share of Total Industry health insurance premiums for the company with respect to the Group and Retail segment was 20.0%, a growth of 230bps over the corresponding period of the previous year.
  • Share of industry health insurance premiums for the company with respect to the Group segment was 29.3%, a growth of 300bps over the corresponding period of the previous year.
  • Share of industry health insurance premiums for the company with respect to the Retail segment was 6.3%, a reduction of 110bps over the corresponding period of the previous year.

Commenting on the results, Satish Gidugu, CEO & whole-time Director, Medi Assist Healthcare Services said, “Our resilient
performance in a growing health insurance market, demonstrates the strength of our business model. Our strategy as a company has been to focus on driving retention and growth, while successfully integrating the acquisitions. We see continued interest in our technology enabling ‘NHCX integration’ and ‘cashless anywhere’ towards driving innovation in the health insurance ecosystem.”

 

 

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