Jupiter Life Line Hospitals Ltd(JLHL)

NSE: JLHLBSE: 543980

₹ 251.8-0.45%refreshed 27 Oct, 11:28 am ISTMarket cap: ₹ 8,255 crWebsite: www.jupiterhospital.comUpdated: 27 Oct 2026

About

Jupiter Life Line Hospitals Ltd (JLHL) operates multi-specialty tertiary and quaternary care hospitals in Western India. It had 1,259 operational beds in H1 FY27 and reported revenue of Rs 1,499.79 cr in FY26. Its expansion pipeline aims to take total bed capacity from 1,700 to 2,900 beds through projects at Dombivli, Pune South, Mira-Bhayandar and BKC.^[1][2][3]

Hospital network and bed capacity

Operational beds were 1,259 in H1 FY27, up from 1,061 a year earlier.^[2]
The Thane hospital was at ~75% occupancy in FY26 and was described as near capacity.^[4]
The Pune hospital was at mid-60% occupancy in Q1 FY27, with room to grow toward ~75%.^[1]
The Indore hospital was at ~50% occupancy in Q1 FY27. It added new doctors and built up its teams ahead of the next expansion phase.^[1]
At Dombivli, ~200 beds were operational in H1 FY27 and fit-outs were complete for another 100 beds. Commissioning is proceeding in phases.^[2]

Key operating metrics

ARPOB was ~71,800 in H1 FY27, up from 66,100 a year earlier. Inpatient ARPOB was ~58,700, up from 53,800.^[2]
Occupancy was 59.5% in H1 FY27, down from 62.2% a year earlier.^[2]
Average length of stay (ALOS) was 3.79 days in H1 FY27, down from 3.84 days a year earlier.^[2]
ARPOB for full-year FY26 was INR67,700, up 11.7% from INR60,600 in FY25.^[4]
IPD volume was 14,200 and OPD volume was 277,300 in Q1 FY27. Total volumes for FY26 were 10.8 lakh, up 9.9% YoY.^[1]

Payor mix

Insurance payors made up 54.8% of the mix in H1 FY27, compared with 55.5% a year earlier.^[2]
Government schemes made up 1% of the revenue mix in FY26.^[4]
Insurance contracts are renewed on roughly a two-year cycle. A round of renewals in FY26 contributed to ARPOB growth that year.^[4]

Expansion pipeline and capex

The Dombivli 500-bed hospital was commissioned on 25 February 2026. Phase 1 capex was ~INR425 cr, delivered in ~25 months.^[4]
Pune II (Pune South, Bibwewadi) will have 500 beds at a capex of Rs 1.2 cr/bed and is expected to be operational in CY28.^[2][5]
Mira-Bhayandar will have 300 beds at Rs 1.3 cr/bed and is expected to be operational in CY29.^[2]
BKC (Mumbai) will be a 400-bed hospital at Rs 1.5 cr/bed, expected to be operational in CY31. The 1,07,923 sq. ft. land was acquired for INR354 cr on an 80-year lease.^[2][4]
The pipeline aims to scale total bed capacity from 1,700 to 2,900 beds.^[2]
The company acquired a business to set up an IV fluids manufacturing unit for INR35-40 cr, as backward integration for its pharmacy subsidiary.^[1]

Dombivli ramp-up

Dombivli's EBITDA loss narrowed to Rs 0.2 cr in Q2 FY27 from Rs 9.5 cr in Q1 FY27, helped by higher medical admissions.^[2]
Oncology / LINAC services at Dombivli are expected to be commissioned by the end of CY2026.^[1]
Management guides for Dombivli to reach EBITDA breakeven in Year 2 of operations (end of CY28).^[1]

Recent developments

In Q2 FY27 the board approved buying the leased Pune South land (11,452 sq m) for Rs 150 cr. The Rs 50 cr deposit already paid is adjusted, so the incremental outflow is Rs 100 cr.^[2]
A 1:5 share split, from Rs 10 to Rs 2 face value, was proposed in the FY26 annual report.^[6]
Dr. Ajay Thakker is to become Chairman & Whole Time Director from 17 July 2026, for five years.^[6]
The company sought approval for up to Rs 350 crore of loans or guarantees and Rs 100 crore of asset transfers to its subsidiary JHPPL in FY27.^[6]

Financial structure

The board has set itself a debt ceiling of 3x EBITDA. Management expects to fund the current expansion cycle mainly from internal accruals over 4-5 years.^[1]

Market Cap

₹8,255 Cr

High / Low

₹338 / 230

Stock P/E

42.7

Price / Book

5.2

Book Value

₹47

EPS

₹6.1

No. of Shares

32.78 Cr

ROCE

15.4%

ROE

13.7%

OPM

19.3%

Debt / Equity

0.33

Sales

₹1,500 Cr

Net Profit

₹199 Cr

Promoter holding

40.9%

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