On the Rise: KIMS – Q4FY25 Performance Pulse

The hospital sector saw a healthy heartbeat in Q4, and KIMS (Krishna Institute of Medical Sciences) wrapped up the fiscal year with strength. The scalpel is sharp, and the growth trajectory looks even sharper.

The Diagnosis – Rationale

“KIMS capped off a strong fiscal year with an in-line Q4FY25.”

With a plan to add ~60% to its capacity, especially in new markets, KIMS’ work is cut out.

The volume momentum in AP/Telangana clusters is expected to help absorb the early-phase losses in its new facilities.

Plans include adding ~3,000 beds in Kerala over the next five years—beyond its Maharashtra and Karnataka ambitions.

Execution in this cluster will remain a key monitorable.

The recent onboarding of a strong regional leadership team boosts execution confidence. Rating retained: ADD.

Forecasted Growth

“We expect KIMS to turn around the initial losses and report an overall EBITDA CAGR of ~23% over FY25–28E.”

The Q4 Diagnosis – Earnings Summary

Vital Signs – The High Points

• Q4FY25 Sales grew 26% YoY
• EBITDA increased 25% YoY
• ARPOB (Average Revenue Per Occupied Bed) was up 21% YoY in Q4FY25
• The company is well-poised to be a prominent multi-specialty hospital chain across markets

Operational Challenges – The Risks

Not everything went to plan:

• The commissioning of 50 beds in Ongole and 350 beds in Bengaluru was delayed by one quarter, now expected in Q2FY26.

Healthy Progress with Expansion Potential

KIMS isn’t just expanding its bed count—it’s scaling its regional presence, execution capabilities, and long-term profitability. FY25 ended on a strong note, and with new clusters and leadership in place, the next chapter looks promising.

Disclaimers (The Fine Print)

This feature is based on a synopsis of a research report issued by Kotak Securities Limited. For the full story (and disclaimers), make sure to check out the original sources:

• Full Research Report

• Kotak Securities Research Disclaimer

• Research Hub