Remember when the Budget session was trending more for Parliament brawls than policy? Meanwhile, Jeena Sikho slipped into the mainboard, scaled Panchkarma like it’s IPL, and doubled profits while most hospital chains were still whining about capex.
Q1 FY26 revenue hit ₹174.3 crore, up 74% YoY and 25% QoQ. EBITDA margin ballooned to 45% (vs 25% a year ago). PAT surged 218% YoY to ₹51.3 crore, with a net margin of 29%. Basically, while modern hospitals chase robotics and AI, JSLL made Ayurveda beds and Panchkarma oil massages the real cash cows. Patient volumes across OPD (+68% YoY), IPD (+46% YoY), and even day-care (+164% YoY) went full throttle.
And if you thought it was just a fad, Acharya Manish Ji added 391 beds this quarter alone. That’s not wellness, that’s aggressive market capture.
Stick around—things get spicier two scrolls down.
AT A GLANCE
• Revenue up 74% YoY – not yoga, just YOLO growth• EBITDA margin 45% – oil massages more profitable than MRIs• PAT up 218% YoY – Ayurveda meets compounding• Private Panchkarma ₹47.3 cr (+97% YoY) – government contracts downgraded to side hustle• 391 beds added – expansion faster than monsoon memes• EPS ₹4.13 (vs ₹1.30 LY) – shareholders finally chanting “Om”
MANAGEMENT’S KEY COMMENTARY
- “Revenue mix shifted in favour of Private Panchkarma.”→ Translation: Government bills take forever, private wallets pay faster.
- “IPD grew 46% YoY, OPD 68% YoY.”→ Translation: Indians now walk in for Panchkarma like they used to for parathas.
- “EBITDA margin hit 45%.”→ Translation: Herbal detox has better unit economics than stents.
- “391 beds added this quarter.”→ Translation: Expansion speed > Apollo’s new tower announcements.
- “Migrated to mainboard
- NSE & BSE.”→ Translation: From small-cap whispers to prime-time spotlight.
- “Launched Pet Yakrit Pleeha Shuddhi Kit.”→ Translation: Liver detox is now a packaged FMCG play.
- “We are building a disease-free, drug-free Bharat.”→ Translation: Pharma lobby is definitely not sending Diwali gifts.
NUMBERS DECODED
| Revenue – The Hero | EBITDA – The Sidekick | Margins – The Drama Queen |
|---|---|---|
| ₹174.3 cr (+74% YoY) | ₹78.8 cr (+220% YoY) | 45% (+2,056 bps YoY) |
- Revenue: Private Panchkarma is now bigger than medicine sales, a structural mix shift.
- EBITDA: Operating leverage from filled beds + high-margin kits.
- Margins: Ayurveda proving more scalable than start-up SaaS.
ANALYST QUESTIONS
- On Government business drop: Mgmt said focus is shifting to private. Translation: Faster billing, fewer sarkari file notings.
- On new beds: 391 added, yet to contribute. Translation: Growth pipeline locked, occupancy lagging by design.
- On OTC products: Pet Yakrit Kit live, 9 more launches planned. Translation: FMCG margins incoming.
- On cash conversion: Private shift improves cycle. Translation: Less chasing babus, more swiping credit
