Slides
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Q2 & H1FY27 Investor Presentation 1
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Safe HarborThis presentation and the accompanying slides (the “Presentation”), which have been prepared by Metropolis Healthcare Limited (the “Company”), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any securities, and shall not form the basis or be relied on in connection with any contract or binding commitment whatsoever. No offering of securities of the Company will be made except by means of a statutory offering document containing detailed information about the Company.This Presentation has been prepared by the Company based on information and data which the Company considers reliable, but the Company makes no representation or warranty, express or implied, whatsoever, and no reliance shall be placed on, the truth, accuracy, completeness, fairness and reasonableness of the contents of this Presentation. This Presentation may not be all inclusive and may not contain all of the information that you may consider material. Any liability in respect of the contents of, or any omission from, this Presentation is expressly excluded. Certain matters discussed in this Presentation may contain statements regarding the Company’s market opportunity and business prospects that are individually and collectively forward-looking statements. Such forward-looking statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties and assumptions that are difficult to predict. These risks and uncertainties include, but are not limited to, the performance of the Indian economy and of the economies of various international markets, the performance of the healthcare industry in India and world-wide, competition, the company’s ability to successfully implement its strategy, the Company’s future levels of growth and expansion, technological implementation, changes and advancements, changes in revenue, income or cash flows, the Company’s market preferences and its exposure to market risks, as well as other risks. The Company’s actual results, levels of activity, performance or achievements could differ materially and adversely from results expressed in or implied by this Presentation. The Company assumes no obligation to update any forward-looking information contained in this Presentation. Any forward-looking statements and projections made by third parties included in this Presentation are not adopted by the Company and the Company is not responsible for such third party statements and projections.
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H1 FY27Delivery Ahead Of Guidance REVENUEINR 947 Cr16% Y o Y EBITDAINR 248 Cr PATINR 132 Cr ●Sustained demand momentum and increasing throughput from the expanded Lab & Center network enabled the company to outperform its growth guidance ● Mid-teen revenue growth delivered despite no price hikes, demonstrating strong underlying demand and volume-led growth.H1FY27 EBITDA grew by 190 bps driven by, operating leverage, automation. Productivity gains and continued process efficiencies.● 01 25% Yo Y35% Yo Y EBITDA MARGIN26.2%PAT MARGIN14.0%190 bps 200 bps
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Q2 FY27Consistent Delivery Over Last 4 Quarters REVENUEINR 497 Cr16% Y o Y EBITDAINR 135 Cr PATINR 75 Cr EBITDA MARGIN27 .2%PAT MARGIN15.2%●Growth driven by volume and favourable mix, with broad-based performance across channels, regions and TruHealth & Specialty Diagnostics.● Growth in patient and test volumes, complemented by a richer test mix and improved realizationsQ2FY27 EBITDA grew by 180 bps driven by operating leverage, automation, and continued process efficiencies.● 02 24% YoY43% YoY 180 bps 290 bps
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Q2 FY27Key Performance Indicators: Strong broad-based performance 03 B2C REVENUEINR 289 Cr▲ 17% YoY B2B REVENUEINR 208 Cr▲ 15% YoY PATIENT VOLUME4.07 Mn▲ 10% YoY TEST VOLUME8.68 Mn▲ 11% YoY REVENUE PER PATIENTINR 1,221▲ 6% Y oYNo price increase REVENUE PER TESTINR 572▲ 5% Yo Y Share of revenue by segment, Q2FY27 Revenue growth by segment, Q2FY27 YoY 40% 17% 25% 18% 4% 16% 20% 20% Routine Semi-specialty TruHealth Specialty Specialty INR 198 Cr)TruHealth INR 86 Cr)Semi-specialtyRoutine
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Q2 FY27 · CHANNEL MIXB2C revenue up 17% YoY & B2B revenue up 15% YoYB2C · 58% B2B · 42% B2C 17% Yo Y TruHealth Growth21%Specialty Growth23%•Home collection in 60 minutes, faster reports in key markets.•Local digital push and app adoption lifting outlet volumes.•MetLink programme and Partner Portal deepening franchisee ties. B2B 15% Yo YB2B labs, hospitals, government, corporate & clinical trials TruHealth Growth19%Specialty Growth18%•Dedicated helpdesk for high-end partners.•Stronger specialty portfolio focused on genomics.•Wider Partner Portal use improves transparency. 04 MetLink – Flagship Franchisee Partner Engagement Programme B2B Partner training and Engagement Owned and Franchise centers (urban and rural)
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Q2 FY27 · REVENUE GROWTHTruHealth & Specialty : Strategic Growth Engines OutperformingTruHealthStrong revenue momentum, premium mix & digital accelerationGROWTH20%CONTRIBUTION17% Specialty GROWTH20%CONTRIBUTION40% 05 Wellness Zone at Key Centres for Consultative TruHealth Series of Genomics Symposiums across the country for Specialist Connect •Volume growth led by Tier 3 and rural markets.•Diet and dietician bundles gained B2C traction, 30% via digital.•Bundling lifted RPT on premium packs.•RPP rising in focus cities on Truhealth diet bundles. • • • •
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Q2 FY27 · REACHDiversified revenue contribution across geographies Map not to scale; for illustrative purposes only. By Region West 51%South 27%North 17%East 6% By City Tier Tier I 66%Tier II 8%Tier III 26%750 20% Revenue contribution of domestic revenue only. 06 Region GrowthWest16%South16%North12%East13% Tier GrowthTier I13%Tier II14%Tier III20%
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INFRASTRUCTUREBuilding a scalable, productive network 07 161 FY22 175 FY23 199 FY24 210 FY25 213 H1FY27Over the last 5 years 52 labs added to the network. 212 FY26 Service Network 3,134 FY22 3,675 FY23 4,150 FY24 4,536 FY25 5,026 FY26Over the last 5 years 1,985 service points added — 490 centres added in FY26 alone. 5,119 H1FY27 750 116 241Centre: Lab Ratio, up from 211 in FY25 Laboratory Network service points added in Q2FY27
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Q2 FY27Consolidated Profit & Loss Statement 08 Profit & Loss Statement Rs. Crs.)Q2FY27Q2FY26Y-o-YH1FY27H1FY26Y-o-YRevenue from Operations496.8429.215.8%947 .0815.316.2%Costs 361.9320.3698.9617.2Reported EBIDTA134.9108.923.9%248.2198.025.3%Reported EBIDTA %27 .2%25.4%180 bps26.2%24.3%190 bpsDepreciation33.032.465.563.3Other Income8.50.913.68.4EBIT 110.477 .442.6%196.3143.237 .1%Finance Cost7. 96.416.110.9Profit Before Tax102.571.044.4%180.2132.336.2%Current Tax27 .018.147.834.1Profit After Tax75.552.942.7%132.498.134.9%PAT Margin15.2%12.3%290 bps14.0%12.0%200 bps
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09 H1FY27Balance Sheet OverviewEquity & Liabilities Rs. Crs.)Sep-26Mar-26Equity 1653.31524.6Equity Share Capital41.541.5Other Equity1600.01471.7Non-Controlling Interest 11.811.4Non-current Liabilities316.1279.5Financial Liabilities(i) Borrowings0.00.0(ii) Lease Liabilities176.4138.3(iii) Other Non-Current Liabilities1.51.4Provisions 34.234.2Deferred Tax Liabilities Net104.0105.6Current Liabilities371.4334.0Financial Liabilities(i) Borrowings17 .018.7(ii) Lease Liabilities74.774.9(iii) Trade Payables147 .0129.4(iv) Other Current Financial Liabilities28.523.4Other Current Liabilities27 .527 .0Provisions 15.314.2Current Tax Liabilities Net61.446.3Total – Equity & Liabilities2340.82138.1 Assets Rs. Crs.)Sep-26Mar-26Non-current Assets1704.41669.4Property, Plant and Equipment222.0215.3ROU Assets230.2194.7Goodwill 660.3660.2Other Intangible Assets524.0530.8Financial Assets(i) Investments1.81.8(ii) Loans 0.00.0(iii) Other Financial Assets23.320.6Deferred Tax Assets Net6.47. 2Other Non-current Assets2.25.3Non-current Tax Assets Net34.233.6Current Assets636.4468.6Inventories 51.045.5Financial Assets(i) Investments269.4140.6(ii) Trade Receivables184.2170.3(iii) Cash and Cash Equivalents68.754.8(iv) Bank Balances other than (iii)9.77. 5(v) Loans 0.00.0(vi) Other Financial Assets14.512.7Other Current Assets38.937.2Total – Assets 2340.82138.1
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STRATEGY Metropolis 3.0
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MARKET CONTEXTThe Indian diagnostics industryMarket size — US$ bn 11% CAGR to 2034E ~US$11 bnIndia diagnostic labs market size, 2025~11%Projected CAGR, 20252034E ~15%Organised chains’ share — rest is fragmented>60%Share of mortality from non-communicable diseases — drives recurring testing What's powering the shift to organised•Accreditation, quality and consistency NABL) building doctor and patient trust•Home sample collection, digital reports and online booking widening access•Deeper Tier 2/3 penetration and rising preventive & wellness testing Source: IMARC Group — India Diagnostic Labs Market 2025; Ministry of Health & Family Welfare. Figures are industry estimates, rounded. 11.015.121.028.5 20 2520 28E20 31E20 34EMarket structure by provider, 2025 (highly fragmented market) 48% 37% 15% Standalone / unorganised labsHospital-based labsOrganised chains 11
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METROPOLIS 3.0Key pillars of the strategy - poised to grow further 1Leading with TechnologyPioneer AI and digital innovation to redefine diagnostics and elevate customer experience, building on our proven strengths in quality, precision, and operational excellence to shape the future of healthcare. 4Brand PromiseBuild and protect trust by empowering consumers, clinicians, and employees with precise, compassionate care, reinforced by ethical practices, operational excellence, and a culture grounded in accountability 2Differentiate ScientificallyLead with scientific excellence and uncompromising diagnostic quality, setting industry benchmarks through rigorous standards, expert-led interpretation, and sustained investment in medical innovation. 3Consistent, Profitable GrowthScale the core business sustainably and profitably while expanding strategic adjacencies, driving operating leverage, prudent capital allocation, and resilient long-term shareholder value 12
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TECHNOLOGYDriving business growth through digital transformation 13 THE TECHNOLOGY STACKEnhanced ProductivitySecond-generation Point of Sale platform — Registration & Invoicing Platform 2.0. Rapid ScalabilityPartner Portal for end-to-end partner life-cycle management and engagement. Future-Ready Architecture & AICustomer Data Platform for a 360° customer view, using AI to personalize experiences. Improved User ExperienceSales CRM with customizable CPQ to manage dynamic pricing. Data Security & PrivacyEnterprise-grade security with DPDP-compliant patient data handling. A UNIQUE HEALTHCARE TECHNOLOGY STACK DELIVERS Personalization Cross-Channel Consistency Efficient Patient Service Case Management Relationship Management Opportunity Management DPDP Efficient Patient Registration Accurate Billing & Pricing Reporting & Analysis 360° Customer View
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SCIENCE · RESEARCH · ACADEMICSScientifically driven, with a strong focus on quality 43new tests added in H1FY27 (incl. CDP347tests added in FY26 including integrating Core menu99%EQAS external quality assurance score99.99%report accuracy100%labs under CAP / NABL / KENAS or benchmarked Scientific Expansion•New tests across Oncology, Nephrology, Gynecology and infectious & chronic disease segments.•NGS / molecular genomics growing, driven by in-house testing and AIenabled genetic reporting.•Centres of Excellence: Women & Child Health and Oncology. Education & Skilling•Metropolis Institute of Laboratory Education & Skilling MILES.•UGC-certified MedTech courses launched with university collaboration.•Aligned with the government focus on upskilling trained healthcare professionals. 1st in Industry to Medical Advisory Board•Internal & external i-MAB with 60 subject-matter experts.•Focus on scientific differentiation and quality excellence.•Centres of Excellence pipeline across 3 specialties. 14
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SUSTAINABILITYMetropolis ESG goals & key plansEEmissions for a greener tomorrow•Net Zero Scope 1 and 2) by FY43 •45% lower GHG emissions intensity and 50% renewable electricity by FY30 •50% less plastic and zero waste to landfill by FY30 •30% lower water intensity by FY30. SQuality, safety, diversity & well-being•B2C NPS above 90 by FY28 •100% OHS awareness and training •5050 gender balance by FY28 •1 million lives impacted through CSR by FY43 GIntegrity, security & compliance•Zero data breaches •Patient-data protection under ISO 27001 and ISO 27701 •Zero instances of regulatory non-compliance KEY ESG PLANSEmissions & Energy10% energy reduction via renewables · sub-metering solutions · replace end-of-life assets · reduce air miles by 2%. Water & Waste Management5% water reduction via conservation · rainwater harvesting · 10% less plastic with biodegradable alternatives · paperless reporting · biomedical waste segregation audits at five labs Employee Recruitment, Development & RetentionCareer 2.0 to increase gender diversity · strengthen L&D programmes · reduce attrition through Early Warning Signals. Occupational Health & SafetyRaise safety awareness among employees · conduct safety audits for compliance checks.Patient Privacy & EHR100% training on information security & data privacy · sustenance audits by BSI to maintain ISO 27001 & ISO 27701. Community DevelopmentMedEngage, Too Shy to Ask TSTA, Adolescent Reproductive and Sexual Health and Preventive Healthcare CSR projects. Risk ManagementAnnual assessments of the Risk Register per ERM · track mitigation plans for identified high-risk areas.Quality of Care & Patient SatisfactionAim for B2C NPS over 90% by addressing detractors · resolve 85%+ of complaints within 24 hours. Board Governance, Ethics & ComplianceOngoing amendment of policies from corporate-law and organizational perspectives · zero non-compliance · board diversity. ESG clauses in all new vendor contracts, extended to the top 100 suppliers · ongoing policy updates 15
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CORPORATE SOCIAL RESPONSIBILITYCSR at Metropolis — creating a positive impactADOLESCENT REPRODUCTIVE SEXUAL HEALTH (ARSH) •1.3 lakh+ adolescents reached through life-skills and reproductive health education. •6,300 Kishori Manch groups and 2,900 Girl Champions empowered communities. •18 health facilities linked in FY27 , incl. adolescent-friendly health centres•2.9 lakh+ organic app downloads through the Too Shy To Ask platform. •Gold, Financial Express Healthcare Excellence Awards 2026 MEDENGAGE •409 beneficiaries in FY26 320 scholarships and 89 research grants•Presence across 44 aspirational districts. •Advancing medical education through scholarships, research and mentorship. •Regular MedTalks and webinars with SMEs to groom young medical talent, reaching over 1 lakh views.•FY27: national outreach to 12 low-reach states•Research pilot in women's health, oncology and genomics Preventive Healthcare •40,000+ preventive health screenings for diabetes and anaemia (cumulative)•TB nutrition support: 700 patients across three Mumbai locations in FY27 , up from 520 in FY26 100% treatment adherence achieved among supported TB patients. •88% beneficiaries showed improvement in BMI/weight. •LohaShakti anaemia programme launched in Palghar: 28 villages, 13 Gram Panchayats•Felicitated by the Governor of Maharashtra as a Nikshay Mitra 16 Empowering Adolescents with Health and Life Skills Nurturing young medical talent PREVENTIVE HEALTHCARE Strengthening Community Health
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‘PROMOTER LED — PROFESSIONALLY DRIVEN’A dynamic leadership team for the next level of growth Ameera ShahPromoter & Executive ChairpersonSurendran ChemmenkotilManaging Director Dynamic Leadership Team for Next Level of Growth Dr. Sushil ShahFounder & Non – Executive Non - Independent Director Sameer PatelChief Financial Officer Avadhut JoshiChief Business Development Officer Diya SuriChief People Officer Dr. Kirti KaziChief Scientific & Innovation Officer Mohan MenonChief Marketing Officer Bhoopendra RajawatChief Business OfficerWest and East Kannan AlangadanChief Business OfficerSouth Pinakin ShahChief Information Officer Glen MenezesGroup Head – Customer Success Umesh RaiHead - Emerging Business Ravikumar KarthaGroup Head - Internal Assurance and Business Excellence Dr. Monika PrabhakarGroup Head - Lab Operations 17
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RECOGNITIONRecent awards & accolades 18 Oct’26Ameera Shah – Most Powerful Women in Business by Business Today, 2026 Sep’26Surendran Chemmenkotil – India’s Impactful Healthcare Leaders 2026, ET Edge Times Group) Sep’26National Winner – Diagnostics Chain of the Year Award, by ET Healthworld Sep’26Excellence in Precision Diagnostics and Personalized Healthcare - Core Diagnostics by ET Healthworld Jul’26Gold, Best Social Impact in Healthcare 2026, FE Healthcare Excellence Awards. May’26Excellence in Molecular Diagnostics – BW HealthcareWorld Mar’26Surendran Chemmenkotil – Top Transformative Healthcare Leaders of Maharashtra 2026. Jan’26Ameera Shah – Woman Healthcare Leader of the Year 2025 – by Voice of Healthcare Sep’26Best Overseas Diagnostics & Laboratory Network by Services Export Promotion Council SEPC Jul’26Ameera Shah — Most Powerful Woman in Business by Fortune India, 2025. May’26Excellence in Women’s Health Diagnostics – BW HealthcareWorld Mar’26Ameera Shah 100 Most Influential Women 2026 – by BW Businessworld Sep’25Dr Sushil Shah and Ameera Shah felicitated with the Hurun India’s Family Business Excellence Award for the year 2025. Jul’26Best Diagnostic Chain of the Year 2026, FE Healthcare Excellence Awards. Jun’26Best Healthcare Brands Award, ET Edge, 2026 May’26Excellence in Laboratory Quality Award – BW HealthcareWorld Mar’26Ameera Shah - Most Influential Women in Healthcare 2026 – by BW Healthcare World Jun’25Most Innovative Organizations Award by ET Now for the year 2025.
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19 Thank YouFOR FURTHER INFORMATIONMetropolis Healthcare Ltd. CIN L73100MH2000PLC192798Mr. Kamlesh Kulkarni - Head, Legal & Secretarialsecretarial@metropolisindia.com | www.metropolisindia.com Strategic Growth Advisors Pvt. Ltd. CIN U74140MH2010PTC204285Mr. Sagar Shroff / Mr. Shogun Jain 91 98205 19303 / 91 77383 77756sagar.shroff@sgapl.net / shogun.jain@sgapl.net | www.sgapl.net