Sagility Ltd Q2FY26 – From Claims to Fame: ₹1,658 Cr Revenue, ₹251 Cr Profit, and 35,000 Employees Processing America’s Healthcare Bills While You Sleep
1. At a Glance
If you ever wondered who’s behind the never-ending billing cycles of American healthcare, meet Sagility Ltd — India’s BPO ninja turned healthcare tech surgeon. At ₹50.9 per share, this Bangalore-based outsourcing specialist now flaunts a market cap of ₹23,814 crore, serving only U.S. clients, because apparently, we can’t fix our own healthcare system, so we fix theirs.
In Q2FY26, Sagility reported ₹1,658 crore revenue and ₹251 crore PAT, with profits up 114% YoY. Margins held their ground at 24.6% OPM, while the stock’s P/E sits at 29.8 — decent for an IT-enabled services player with real margins and not just PowerPoint promises. The ROE (7.38%) and ROCE (9.58%) could use some Red Bull, but the company’s 35,000 employees (60% women!) are busy ensuring your U.S. insurance claim doesn’t get “rejected for missing comma.”
Debt: ₹1,232 crore (manageable) Promoter Holding: 67.4% (post 15% OFS in May 2025) Dividend Declared: ₹0.05 per share — or what NRIs call “rounding error.”
In short: Sagility’s business is boring, predictable, and wildly profitable — the corporate equivalent of a treadmill in gold.
2. Introduction
Sagility is what happens when call centers grow up, hit the gym, and learn healthcare lingo. Once known as Berkmeer India Pvt. Ltd, this firm was rebranded in 2021 after its global carve-out from HGS (Hinduja Global Solutions). Today, it’s among the fastest-growing healthcare BPO-tech hybrids, serving the payer (insurance companies) and provider (hospitals) segments across the U.S.
Their pitch? “We make America’s healthcare paperwork less painful.” And for that noble cause, they process 105 million claims a year — basically handling enough paperwork to build a fort around Washington D.C.
Sagility’s 90% revenue comes from payers — the insurance overlords who decide whether your MRI was necessary — and the rest from hospitals trying to get paid. The company’s client base includes 5 of the top 10 U.S. health insurers like UnitedHealthcare, Cigna, CVS Health, and Humana, along with prestigious providers like Johns Hopkins and Cleveland Clinic.
Question for you: How many Indian BPOs can say they literally run half of U.S. healthcare admin systems?
3. Business Model – WTF Do They Even Do?
Think of Sagility as the invisible hospital administrator who never sleeps. Their motto: “You heal, we bill.”
Here’s the diagnosis:
For Payers (90% of revenue):
Claims Management: Verifying and processing insurance claims.
Payment Integrity: Detecting overpayments (or as insurers call it, “cashbacks from mistakes”).
Provider Data Management: Keeping doctor databases cleaner than your Netflix watchlist.
For Providers (10% of revenue):
Revenue Cycle Management (RCM): Ensuring hospitals get paid faster than patients forget their passwords.
Patient Engagement: Customer service with empathy — and a headset.
Revenue Models:
Time-Based: Paid per hour like an overworked intern.
Transaction-Based: Paid per claim or record processed.
Outcome-Based: Paid based on measurable results (e.g., recovery rates).
They operate a multi-shore model — India, U.S., Colombia, Jamaica, and the Philippines — because nothing screams “global healthcare integration” like your MRI claim being audited across four continents.
4. Financials Overview
Metric (₹ Cr)
Latest Qtr (Sep’25)
YoY Qtr (Sep’24)
Prev Qtr (Jun’25)
YoY %
QoQ %
Revenue
1,658
1,325
1,539
25.2%
7.7%
EBITDA
415
301
346
37.9%
20.0%
PAT
251
117
149
114.5%
68.5%
EPS (₹)
0.54
0.25
0.32
116.0%
68.7%
Commentary: Margins are healthier than an HMO premium chart — and profits doubled YoY. While many Indian IT firms are still crying about “client spend cuts,” Sagility’s billing machines are running overtime. The real question: how long before insurers automate this automation?
