Q3 FY23 Consolidated PAT of Rs 103 mn; an increase of 61% (YoY)

Artemis Medicare Services Ltd. (“Artemis” or the “Company”) (BSE: 542919 | NSE:
ARTEMISMED), a 541 bed tertiary care super speciality hospital based in Gurgaon, Delhi NCR (Total capacity of
Artemis Hospitals including Artemis Lite and Daffodil is 686 beds), announced its Q3 FY23 and 9M ended Dec
2022 results on 1
stFebruary 2023.
Q3 FY23 Consolidated Performance Highlights (YoY)

 Net Revenue from Operations increased by 30% to Rs 1,875 mn from Rs 1,440 mn
 EBITDA increased by 43% to Rs 268 mn from Rs 187 mn with margin of 14.3%
 PAT increased by 61% to Rs 103 mn from Rs 64 mn with margin of 5.5%
 Net Debt of Rs 1,802 mn as on 31

st December 2022; Net Debt/Equity of 0.46x
Q3 FY23 Artemis Hospital Gurgaon (YoY)
 Average gross revenue per occupied bed (ARPOB) of Rs 67,800 against Rs 64,400
 EBITDA margin stood at 15.9% as compared to 13.1%
 Bed capacity utilisation including the new tower stood at 68%
 Revenues from overseas patients for the quarter increased by 94% to Rs 502 mn, from Rs 259 mn,
contributing 24% to net revenue

 Patient footfall stood at 85,407, an increase of 11%
 No. of surgeries performed during the quarter 3,187, an increase of 16%
 Average length of stay (ALOS) at 3.78 days
9MFY23 Consolidated Performance Highlights (YoY)

 Net Revenue from Operations stood at Rs 5,421 mn showing an uptick of 34%
 EBIDTA increased by 38% to Rs 732 mn from Rs 531 mn; EBITDA margin stood at 13.5%
 PAT increased by 50% to Rs 273 mn from Rs 182 mn with PAT margin of 5.0%
Announcing the results, Dr. Devlina Chakravarty, Managing Director said:

“We are pleased to announce the strong performance of the company in Q3 FY23. This success can be
attributed to our continued and conscious effort towards improving both top-line and bottom-line while
prudently increasing capacity. This further reinforces our growth strategy and stands proof to our
commitment to serve patients, doctors, medical staff, and society at large.
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Q3 and 9M FY23 Press Release
Both our in-situ growth plan and asset-light strategy have started showing results. The capacity
expansion in the current unit has resulted in increase efficiency while the asset-light strategy is enabling
us to expand our network at a rapid pace.

During the quarter, the company established its third luxury birthing centre under the brand ‘Daffodils
by Artemis’ in East of Kailash, New Delhi. Similar to the centres in Gurugram and Jaipur, the New Delhi
centre will also provide end to end mother and child-care services including gynae surgical care and
specialised paediatric services. The specialized care offered by Daffodils has received positive feedback,
with the initial centers reaching maturity quickly.

The company has also recently signed a MoU for an upcoming ~100 bedded facility in an asset light
model, which will be the 1st Children’s Hospital in Haryana (Delhi NCR) to be operational in FY25.
Additionally, we have announced the agreement to open a cardiac care centre in Chennai under the
joint venture with philips Medica l Systems. This will be operational by Q1 FY24 and will be added to the

nine existing cardiac care centres across the country.
Lastly, we like to reiterate our focus on expansion across all our brands where we see a significant
opportunities for growth.”