Narayana Hrudayalaya Limited – Investor Presentation Summary

Key Operational Highlights

  • Total operational capacity: 6,244 beds across 55 healthcare facilities globally as of April 1, 2026
  • India operations: 20 hospitals and heart centers with 5,451 operational beds, 20 clinics and dialysis centers
  • International operations: Cayman Islands (2 facilities, 164 beds), United Kingdom (13 facilities, 330 beds)
  • Total staff: ~20,750 (Clinical: ~12,750, Non-clinical: ~8,000)
  • Performed 750+ robotic cardiac surgeries in FY26
  • Narayana Institute of Cardiac Sciences, Bangalore performed 247 robotic cardiac surgeries in Q4 FY26 and 727 in FY26
  • Performed 160 TAVIs in FY26 (20% volume increase YoY)
  • Iodine Therapy facility operationalized at Narayana Hospital, Howrah
  • Next-generation Radiation Therapy services Elekta System inaugurated at Narayana Hospital, Mysuru
  • Novel Laparoscopic Microwave Ablation for fibroid uterus performed under ultrasound guidance at Narayana Hospital, Mysuru

Segment-wise Performance

India Hospital Operations Revenue Mix (Q4 FY26):

  • Owned Hospitals: 33%
  • Operated Hospitals: 13%
  • Heart Centres: 15%
  • Other Ancillary Businesses: 9%
  • Specialty Mix: Cardiac Sciences (33%), Medicine and GI sciences (13%), Oncology (15%), Renal Sciences (9%), Neuro Sciences (8%), Orthopaedics (4%), Others (17%)
  • Patient Type: Domestic Walk-in patients, Insured Patients, Schemes, International patients

India Hospital Operations Revenue Mix (FY26):

  • Similar mix as Q4 FY26 with consistent specialty and patient type distribution

Financial Highlights

Q4 FY26 Performance:

  • Revenue: ₹25,938 Mn (+75.8% YoY, +20.6% QoQ)
  • EBITDA: ₹5,392 Mn (20.8% margin)
  • PAT: ₹2,280 Mn (8.8% margin)

FY26 Performance:

  • Revenue: ₹78,960 Mn (+44.0% YoY)
  • EBITDA: ₹17,169 Mn (21.7% margin)
  • PAT: ₹8,105 Mn (10.3% margin)

Drivers of financial performance: Higher revenue growth across operations

Comparison to market estimates: Not specified

Key Risks: Not explicitly disclosed

Geographical Revenue Split

Domestic vs International:

  • Detailed breakdown not provided in presentation
  • International operations include Cayman Islands and United Kingdom facilities

Balance Sheet Snapshot

As of March 31, 2026:

  • Shareholder Equity: ₹45,373 Mn
  • Total Borrowings: ₹48,661 Mn
  • Lease Liability: ₹9,914 Mn
  • Net Block + CWIP: ₹47,935 Mn
  • Goodwill: ₹13,906 Mn
  • Right to Use Assets: ₹8,456 Mn
  • Net Receivables: ₹6,557 Mn
  • Current Investments: ₹4,143 Mn
  • Cash and Bank Balance: ₹21,292 Mn
  • Net Debt to Equity Ratio: 0.49
  • Foreign currency denominated debt: US $117 Mn and GBP £150 Mn

Financial Health Insights: Strong cash position with ₹21,292 Mn cash balance

Capex & Cash Flow Health

Capital Expenditure:

  • FY26 Planned: ₹4,240 Mn (Greenfield/Inorganic: ₹4,240 Mn, Brownfield: ₹159 Mn, Replacement/Maintenance: ₹2,865 Mn)
  • FY26 Actual: ₹1,089 Mn (Greenfield/Inorganic: ₹1,089 Mn, Brownfield: ₹126 Mn, Replacement/Maintenance: ₹2,594 Mn)
  • Cayman Islands: ₹457 Mn (Planned), ₹654 Mn (Actual)

Free Cash Flow: Not specified

Operating Cash Flow: Not specified

Net Debt Movement: Not specified

Investment Rationale: Capacity expansion through greenfield and brownfield projects

Strategic & R&D Initiatives

Expansion Projects Status:

  • HSR, Bangalore: Greenfield, 215 beds, ₹4,900 Mn, FY28 completion - Main contractor onboarded; project progressing as per schedule
  • Rajarhat, Kolkata: Greenfield, 350 beds, ₹9,000 Mn, FY28 completion - Sanctions in place, project progressing as per schedule
  • Central Bangalore: Lease, 220 beds, ₹1,600 Mn, FY28 completion - Lease & Construction Agreement executed; design and approvals in process
  • South Bangalore: Greenfield, 350 beds, ₹8,000 Mn, FY29 completion - Design and approvals in process
  • Raipur: Expansion, 300 beds, ₹5,400 Mn, FY28 completion - Main contractor onboarded; project progressing as per schedule
  • South-West Bangalore: Lease, 100 beds, ₹840 Mn, FY27 completion - Structural work completed, MEP and interior work in progress

Bed Capacity Targets:

  • Current: 5,750 beds
  • Target: 7,685+ beds by FY30

Digital Transformation Initiatives

  • Incident Management: 50% reduction in patient incidents
  • Video Consultation: Updated across all applications and mobile platforms
  • NH patient app: 3.8 Mn overall installs with Appstore rating 4.9 and Playstore rating 4.7
  • Outreach Consultation Program: Managed on AHAM platform enabling traceability
  • Consent Management Digitization: ~85% mark for general consent in Inpatient and Daycare admissions
  • ATHMA: Enables clients to have branded mobile apps
  • ATHMA Lab platform: Onboards major contract in UAE market
  • NAMAH Nursing Platform: Completes 5Mn+ Clinical Assessments on mobile application
  • Payment Processing: ~40Cr+ monthly payments processed on Kiosk setups across hospitals

Industry Trends & Business Environment

Macro/Industry Trends: Not specified

Impact on Company: Not specified

Management Commentary & Growth Outlook

Strategic Outlook: Not explicitly stated in presentation

FY Guidance: Not provided

Market Share Targets: Not specified

Risks and Opportunities: Not highlighted

ESG Updates

Environmental Initiatives:

  • Focus on consumption efficiency and resource optimization
  • Conscious about environmental impact

Shareholding Pattern

As on March 31, 2026:

  • Total Number of Shares: 204,360,804

Key DIIs:

  • Mirae Asset Management
  • Parag Parikh Asset Management
  • Nippon Life India Asset Management
  • Axis Asset Management
  • Unifi Capital
  • DSP Asset Management

Key FIIs:

  • Vanguard Index Funds
  • Franklin Templeton Investment Funds
  • Simcah Partners LP
  • iShares by Blackrock
  • Government Pension Fund Global
  • Mirae Asset Funds