Prabhudas Lilladher Recommends 'BUY' on Global Health (Medanta) with Rs 1375 Target

• Prabhudas Lilladher maintains a 'BUY' rating on Global Health (Medanta) with a target price of Rs 1,375 per share.
• Medanta's Q3FY26 EBITDA grew 9% YoY, largely in line with expectations.
• EBITDA growth is projected to be moderate at 8% CAGR over FY24-26E due to issues at the Lucknow unit and start-up losses at the Noida unit.
• The company plans to add approximately 2,800 beds over the next four years to its current capacity of ~3,579 beds.
• With Lucknow issues resolved and Noida ramp-up expected from Q2FY27E, EBITDA is forecast to achieve ~19% CAGR over FY26-28E.