NDTV Profit's special research section collates quality and in-depth equity and economy research reports from across India's top brokerages, asset managers and research agencies. These reports offer NDTV Profit's subscribers an opportunity to expand their understanding of companies, sectors and the economy.
ICICI Securities Report
ICICI Securities remains constructive on the healthcare sector after hospitals under its coverage delivered a strong 17.8% YoY revenue growth and 25.1% YoY Ebitda expansion in Q3 FY26. The performance was supported by healthy improvement in average revenue per occupied bed, which rose 5–21% YoY (excluding Healthcare Global), driven by a superior case mix, higher surgical contribution, and calibrated price hikes.
-
Indian Markets Turning Corner After Two Tough Years, Says Sandeep Tandon -
NDTV Profit Ignite 2026: Experts See Opportunity In Equities, Stay Bullish For Long-Term -
Buy Right, Sit Tight Does Not Work for Individual Stocks, Says Dinshaw Irani -
'Worst Is Behind': Quant MF Sees Market Bottom, Flags 'Extreme Euphoria' In Midcaps -
India's Mutual Fund Industry Could Become A $1 Trillion Opportunity, Say Fund Managers -
'Foreign Investors Are Baraatis': Raamdeo Agrawal's Take On LTCG Tax -
Stay Invested Through Market Cycles: Raamdeo Agrawal at NDTV Profit Ignite -
Ramesh Damani Remains Bullish On India For Next 20-30 Years, Sees Bargains Amid Market Weakness -
CAS Came After A Long Consultation Process: SEBI Chairman Tuhin Kanta Pandey AT NDTV PROFIT IGNITE -
Aim To Cut FPI Onboarding Time From Mth To Five Days: SEBI Chairman Tuhin Kanta Pandey AT NDTV PROFI
However, capacity additions and seasonal factors weighed on occupancy levels at KIMS, Jupiter Lifeline, and Apollo Hospitals, while Fortis sustained steady utilisation through the quarter.
Also Read | Layoffs Are Rising In Tech, But These Skills Are Helping People Unlock Better Pay
Looking ahead, Jupiter Lifeline is set to commercialise its Dombivli hospital in Q4 FY26, enhancing its regional footprint. Apollo Hospitals and KIMS are expected to add 1,585 beds and 1,700 beds, respectively, by the end of FY27, underpinning their medium-term growth visibility.
ALSO READ:Stock Picks Today: TCS, Nykaa, DMart, Lenskart And More On Brokerages' Radar
The diagnostics segment also posted a strong quarter, reporting 16.9% revenue growth and 24.8% Ebitda growth YoY. Metropolis Healthcare led the sector with an impressive ~26% YoY revenue uptick, driven by 15% organic growth and contributions from recently acquired entities. Thyrocare reported 20% organic YoY growth in its pathology vertical.
Despite inflationary pressures, diagnostic chains refrained from taking significant price hikes and instead focused on network expansion, improved reach, and operational efficiencies to sustain volume-led growth.
ICICI Securities highlighted Fortis Healthcare, Metropolis Healthcare, and Thyrocare Technologies as its top picks within the sector, citing strong operating momentum, execution visibility, and favorable demand trends.
Click on the attachment to read the full report:
ALSO READ: Pharma Stocks To Buy: Aurobindo, Sun Pharma Lead ICICI Securities' Top Picks — Check Full List
DISCLAIMER
This report is authored by an external party. NDTV Profit does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of NDTV Profit.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.
