KIMS · Healthcare
Krishna Institute of Medical Sciences Ltd. reported revenue of ₹998 cr for October to December 2025, +29.3% on the year and +3.9% on the quarter. It is the highest quarterly revenue in the last 11 quarters on record. Over the last four quarters revenue comes to ₹3,628 cr, +26.4% on the four before.
Operating profit (EBITDA) was ₹199 cr, a margin of 19.9%, −428 bps on the year and −129 bps on the quarter. It is the narrowest margin of the last 8 quarters (range 19.9% to 28.1%). Operating costs grew +36.6%, faster than revenue at +29.3%, so operating profit grew less than sales.
Net profit was ₹52.0 cr, −43.5% on the year and −27.8% on the quarter, with earnings per share of ₹1.33. Profit before other income, one-offs and tax fell 45.3%, so the profit growth came from the business itself. The tax rate of 24% is in line with its recent average. Profit over the last four quarters totals ₹315 cr, −17.1% on the four before.
On earnings per share of ₹7.50 over the last four quarters, the stock at ₹727.55 trades at 97.0 times trailing earnings.
Written from the quarterly statements. The filing read adds the balance sheet and cash flow, the auditor's review, segment results, one-off items line by line and what management said on the call.
Finance cost rose fast and now takes a large bite of operating profit. New borrowing, or a higher rate?
Source: Quarterly statements
Operating margin fell sharply on the year. Pricing, input costs, or mix?
Source: Quarterly statements
Could not run on this quarter: Exceptional items that recur, Cash behind the profit, Receivables against sales, Inventory against sales, Borrowing while holding cash, Auditor's review or audit report, IPO money used as stated, Related-party transactions, Exits, postponements, restatements, Promoter pledges and allotments, Earlier promises against delivery, When the results were filed. Most need the filing read (balance sheet, cash flow, auditor, disclosures).
Net profit a year ago, each driver's change, and net profit now. Blue added profit, red took it away.
| Q3 FY24 | Q4 FY24 | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 | Q2 FY27 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | ₹606 cr | ₹634 cr | ₹688 cr | ₹777 cr | ₹772 cr | ₹797 cr | ₹872 cr | ₹961 cr | ₹998 cr | ₹1,075 cr | ₹1,180 cr | ₹1,344 cr |
| YoY | — | — | +14% | +19% | +27% | +26% | +27% | +24% | +29% | +35% | +35% | +40% |
| EBITDA margin | 24.3% | 25.1% | 26.0% | 28.1% | 24.2% | 24.8% | 22.1% | 21.2% | 19.9% | 19.2% | 18.9% | 19.3% |
| Other income, % of PBT | 3% | 4% | 4% | 3% | 13% | 11% | 6% | 4% | 7% | 2% | 30% | 30% |
| Exceptional items | — | — | — | — | — | — | — | — | — | — | — | — |
| Tax rate | 25% | 28% | 25% | 26% | 31% | 21% | 25% | 26% | 24% | 40% | 34% | 29% |
| Net profit | ₹77.0 cr | ₹72.0 cr | ₹95.0 cr | ₹121 cr | ₹92.0 cr | ₹106 cr | ₹85.0 cr | ₹72.0 cr | ₹52.0 cr | ₹33.0 cr | ₹37.0 cr | ₹75.0 cr |
| YoY | — | — | +9% | +20% | +19% | +47% | −11% | −40% | −43% | −69% | −56% | +4% |
| Core profit YoY | — | — | +5% | +15% | +18% | +24% | −12% | −41% | −45% | −55% | −63% | −20% |
| EPS | ₹1.80 | ₹1.64 | ₹2.16 | ₹2.68 | ₹2.22 | ₹2.54 | ₹1.96 | ₹1.67 | ₹1.33 | ₹1.06 | ₹0.99 | ₹1.79 |
| Flags | · | · | ✓ | ✓ | ✓ | 1 | 2 | 2 | 2 | 2 | 2 | 3 |
Each quarter is read with the same rules. Balance-sheet and cash checks run on half-year and annual quarters; filing-read checks run where a read exists.
Krishna Institute of Medical Sciences Ltd. reported revenue of ₹998 cr (+29.3% on the year) and net profit of ₹52.0 cr (−43.5% on the year) for October to December 2025.
Profit before other income, exceptional items and tax moved −45.3% on the year, against −43.5% for reported profit.
2 checks raised a question: Finance cost rose fast and now takes a large bite of operating profit. New borrowing, or a higher rate?
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