Summary of Key Information:

Reporting Period: Quarter and Half Year ended September 30, 2026 (Q2 FY27)

Nature of Filing / Announcement: Unaudited Financial Results under Regulation 33 of SEBI LODR

Audit Opinion:

Limited Review Report with unmodified opinion issued by Price Waterhouse Chartered Accountants LLP

Key Financial Highlights [₹ in crores]:

Standalone Results:

Revenue from Operations: Q2 FY27: ₹1,151.13 (vs Q2 FY26: ₹901.64, +28% YoY); H1 FY27: ₹2,199.43 (vs H1 FY26: ₹1,719.66, +28% YoY)

Total Income: Q2 FY27: ₹1,249.76; H1 FY27: ₹2,338.93

Net Profit: Q2 FY27: ₹164.51; H1 FY27: ₹280.04

EPS (Basic): Q2 FY27: ₹1.31; H1 FY27: ₹2.29

Other Equity: As at September 30, 2026: ₹15,118.28 (vs March 31, 2026: ₹7,087.52)

Cash and Cash Equivalents: As at September 30, 2026: ₹375.78 (vs March 31, 2026: ₹101.70)

Debt: Non-current borrowings: ₹2,634.69; Current borrowings: ₹165.29

Consolidated Results:

Revenue from Operations: Q2 FY27: ₹3,399.35 (vs Q2 FY26: ₹2,475.42, +37% YoY); H1 FY27: ₹6,489.98 (vs H1 FY26: ₹4,713.05, +38% YoY)

Total Income: Q2 FY27: ₹3,499.08; H1 FY27: ₹6,664.21

Net Profit: Q2 FY27: ₹284.98; H1 FY27: ₹528.41

Attribution: Owners: Q2 FY27: ₹269.79; Non-controlling: Q2 FY27: ₹15.19

EPS (Basic): Q2 FY27: ₹2.14; H1 FY27: ₹4.10

Other Equity: As at September 30, 2026: ₹16,443.63 (vs March 31, 2026: ₹8,190.18)

Cash and Cash Equivalents: As at September 30, 2026: ₹559.31 (vs March 31, 2026: ₹299.36)

Debt: Non-current borrowings: ₹5,381.75; Current borrowings: ₹366.39

Segment-wise Performance:

The company operates in a single business and geographical segment (Healthcare services in India). No segment information required to be disclosed as per Ind AS 108.

Corporate Actions:

The company completed an initial public offering (IPO) of 157,233,715 equity shares of face value of ₹2 each:

  • Fresh issue: 135,619,881 equity shares aggregating to ₹8,000 crores
  • Offer for sale: 21,613,834 equity shares by selling shareholders amounting to ₹1,275 crores
  • Employee reservation portion: 280,898 equity shares at issue price of ₹534.00 per share
  • Main issue price: ₹590.00 per share
  • Listing date: August 05, 2026 on NSE and BSE

Other Significant Information:

Acquisitions and Expansion:

  • During Q2 FY26, acquired additional land and building for greenfield project at Juhu, Mumbai for ₹495.00 crores (₹365.00 crores paid, ₹130.00 crores payable)
  • During H1 FY27, entered Business Transfer Agreement with Kindorama Healthcare for acquisition of Kinder Women's Hospital, Bengaluru for ₹130.00 crores (₹120.00 crores paid post-period, ₹10.00 crores payable)
  • Post-period, entered long-term Lease Deed for land at Gurugram, Haryana for 29 years 11 months for greenfield hospital development

Subsidiary Activity:

  • Manipal Hospitals Private Limited redeemed Non-Convertible Debentures of ₹5,310.00 crores on September 16, 2026, including one-time break fee of ₹79.70 crores
  • MHPL acquired 78.71% stake in Sahyadri Hospitals Private Limited in October 2025 for ₹4,596.55 crores, with additional commitments for further acquisition

Exceptional Items [Standalone]:

  • Employee incentive cost: Q2 FY27: ₹14.00 crores; H1 FY27: ₹27.43 crores [Non-Recurring]
  • Impact of Labour Codes: Year ended March 31, 2026: ₹10.80 crores [Non-Recurring]

Exceptional Items [Consolidated]:

  • NCD prepayment fee: Q2 FY27: ₹79.70 crores [Non-Recurring]
  • Employee incentive cost: Q2 FY27: ₹15.48 crores; H1 FY27: ₹30.95 crores [Non-Recurring]
  • Impact of Labour Codes: Year ended March 31, 2026: ₹31.94 crores [Non-Recurring]
  • Legal fees for business expansion: Year ended March 31, 2026: ₹28.73 crores
  • Receivables write-off: Year ended March 31, 2026: ₹2.04 crores

Entities in Consolidation:

The consolidated results include Manipal Health Enterprises Limited and 17 subsidiaries, 1 associate, and 1 joint venture, including:

  • Manipal Hospitals Private Limited
  • Manipal Hospitals (Bengaluru) Private Limited
  • Sahyadri Hospitals Private Limited
  • Manipal Hospitals Eastern India Private Limited
  • iGenetics Diagnostics Private Limited (Associate)
  • Terrals Technologies Private Limited (Joint Venture)