YATHARTH Q2 FY27 Guidance vs Delivery (YATHARTH Management Mirror)

H1 FY27 Revenue Surges 52%, Exceeding the >37% Growth Guided in Jun'26 Qtr; Margins Stand at 23.6%

In Sep'26 Qtr results, Yatharth reported Q2 FY27 revenue of INR 4,314 million (up 52% YoY) and an EBITDA margin of 23.6%. The 52% YoY H1 revenue growth exceeds the guidance issued in the Mar'26 and Jun'26 Qtr concalls, which targeted full-year FY27 growth to easily surpass the 36% to 37% achieved in FY26. However, the reported 23.6% margin fell slightly short of the upwards of 24% to 25% consolidated margin guided in the Jun'26 Qtr. Going forward, management reaffirmed its organic revenue growth guidance of ~30% YoY for the next 3 to 4 years, with base business EBITDA margins guided to remain upwards of 24% as operational efficiencies offset drug pricing caps, while Advent-funded acquisitions are expected to lift overall EBITDA expansion beyond 3x over 3.5 to 4 years.