Mumbai: Medi Assist Healthcare Services Ltd reported a 25.1 percent year-on-year increase in operating revenue to Rupees 904.8 crore for FY26, driven by growth in its core third-party administration business, expansion in technology-led healthcare platforms and rising claims processing volumes. The company also became debt-free and net-cash positive during the year, strengthening its balance sheet as it scaled artificial intelligence-led healthcare claims infrastructure and fraud detection capabilities.
The company said EBITDA for FY26 rose 13.3 percent year-on-year to Rupees 174.6 crore, while quarterly EBITDA margins expanded consistently to reach 19.9 percent in Q4 FY26. Adjusted profit after tax for FY26 stood at Rupees 68.8 crore, excluding one-time exceptional items. Sequentially, adjusted PAT for Q4 FY26 increased to Rupees 22.4 crore from Rupees 15.6 crore in Q3 FY26, reflecting improved operational efficiencies and platform scale-up.
Medi Assist said its AI-powered infrastructure was processing nearly one million claims every month during FY26, enabling faster turnaround times and greater automation across the claims lifecycle. The company’s proprietary MAven Guard fraud detection engine helped prevent approximately Rupees 540 crore worth of health insurance fraud during the year. The healthcare administration platform also expanded its hospital access network, with more than 12,000 hospitals actively submitting claims every month and another 14,000-plus hospitals connected through its “Cashless Everywhere” feature.
The company’s technology platforms business recorded strong momentum during FY26, with revenues from proprietary technology platforms rising 91.9 percent year-on-year. Medi Assist also accelerated integration of Paramount TPA into its proprietary technology stack, improving digitally processed claims volumes and automation-led margin expansion. The company additionally launched “MAgnum”, a digital platform for hospitals designed to streamline workflows and support faster discharge processes.
Operationally, total group and retail premiums administered by Medi Assist increased 22.8 percent year-on-year to Rupees 25,923.2 crore during FY26. Market share of group and retail premiums under administration expanded to 20.7 percent, while group market share rose to 33.7 percent. The company processed 100.3 lakh claims during the year, including cashless inpatient, outpatient, and reimbursement claims.
Disclaimer: This report is based on company press release disclosures and is not investment advice.
