Metropolis Healt Q2 FY27 Results (NSE: METROPOLIS)
Signal: Margin expansion
The read
The trajectory remains constructive: standalone revenue grew 17.3% YoY while derived operating margin expanded to 28.5% from 25.6%, extending the margin-recovery pattern after 25.8% in Q1FY27; PAT growth of 47.9% was additionally supported by other income rising to ₹89.88 million from ₹25.20 million.
| Metric | Value | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹496.82 Cr | +15.8% | +10.3% |
| EBIT margin | 27.0% |
P&L walk
Consolidated revenue increased to ₹4,968.21 million, +15.8% YoY and +10.3% QoQ, while raw-material intensity fell to 18.9% from 20.4% YoY and the derived operating margin expanded to about 27.0% from 25.2%; consolidated PAT and EPS are not visible in the supplied filing text.
Segments
The consolidated group contributed ₹4,968.21 million of revenue and ₹1,024.81 million of pre-tax profit versus standalone revenue of ₹4,169.34 million and standalone pre-tax profit of ₹938.54 million, indicating subsidiaries added roughly ₹798.87 million of revenue and ₹86.27 million of pre-tax profit.
Key positives
- Standalone operating margin expanded to about 28.5%, up 283bps YoY, as revenue grew 17.3% while employee costs grew 11.5% and depreciation grew only 1.9%.
- Standalone PAT rose 47.9% YoY to ₹687.51 million and basic EPS rose 47.6% to ₹3.32, with EPS tracking PAT closely.
- Consolidated revenue grew 15.8% YoY to ₹4,968.21 million and consolidated pre-tax profit rose 44.3% YoY to ₹1,024.81 million in the visible statement.
- H1FY27 operating cash flow was ₹2,061.05 million, up 81.6% YoY from ₹1,135.24 million.
- The company declared an interim dividend of ₹1 per equity share.
Key concerns
- Consolidated revenue growth of 15.8% YoY moderated from 16.6% standalone Q1FY27 growth and the 22.6% consolidated growth recorded in Q2FY26 in the prior-results series.
- Finance costs increased 39.9% YoY standalone and 22.9% YoY consolidated, faster than revenue growth.
- Trade receivables rose to ₹1,399.27 million from ₹1,188.70 million at March 31, 2026, absorbing ₹252.43 million of H1FY27 operating cash flow.
- Other income rose to ₹89.88 million standalone from ₹25.20 million YoY, so part of the 47.9% PAT growth was supported by non-operating income.
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