Key Financial Figures - Standalone (₹ in millions)

Income Statement:

  • Revenue from Operations: ₹10,971.02 (Q1 FY27)
  • Other Income: ₹304.13 (includes ₹943.52 million dividend from HCCI)
  • Total Income: ₹11,275.15
  • EBITDA: ₹2,695.35
  • Profit Before Tax: ₹1,877.21
  • Tax Expense: ₹498.66 (Current tax: ₹481.11, Deferred tax: ₹17.55)
  • Net Profit: ₹1,378.55
  • EPS: ₹6.79 (basic and diluted)

Comparative Performance:

  • Q1 FY26 Net Profit: ₹2,021.25 million
  • Q4 FY26 Net Profit: ₹873.71 million
  • YoY Net Profit Change: -31.8%
  • QoQ Net Profit Change: +57.8%

Exceptional Item:

  • ₹452.76 million impact from implementation of new Labour Codes (gratuity and leave liability increase)

Key Financial Figures - Consolidated (₹ in millions)

Income Statement:

  • Revenue from Operations: ₹26,836.34
  • Other Income: ₹354.76
  • Total Income: ₹27,191.10
  • EBITDA: ₹5,392.12
  • Profit Before Tax: ₹2,603.89
  • Tax Expense: ₹531.19
  • Net Profit: ₹2,072.70
  • EPS: ₹10.20 (basic and diluted)

Segment Performance:

  • Medical & Healthcare Services Revenue: ₹25,403.49
  • Other Segment Revenue: ₹1,563.56 (primarily insurance)
  • Medical & Healthcare Segment Result: ₹3,741.75
  • Other Segment Result: ₹(624.61) loss

Corporate Actions and Pending Approvals

Merger with Meridian Medical Research & Hospital Ltd. (MMRHL):

  • Board approved on November 29, 2024
  • Appointed date: April 1, 2024
  • Exchange ratio: 1 NHL share for every 2 MMRHL shares
  • Received 'No Observation' from BSE (June 23, 2025) and NSE (June 24, 2025)
  • Filed with NCLT Bengaluru on September 27, 2025
  • Creditors and shareholders approved on January 19, 2026
  • Petition filed with NCLT on January 23, 2026
  • Final NCLT order pending

Demerger of NH Integrated Care Private Limited (NHIC):

  • Board approved on December 12, 2025
  • Appointed date: April 1, 2025
  • Clinical services to demerge into NHL, Aarogyam vertical to remain with NHIC
  • Filed with NCLT Bengaluru on December 17, 2025
  • Creditors and shareholders approved on April 2, 2026
  • Petition filed with NCLT on April 8, 2026
  • No share issuance required (wholly-owned subsidiary)
  • Final NCLT order pending

Discontinued Operations

  • Narayana Vaishno Devi Specialty Hospitals business transferred to Shri Mata Vaishno Devi Charitable Society effective April 1, 2026
  • Q1 FY27 revenue from discontinued operations: ₹308.65 million
  • Profit from discontinued operations: ₹21.65 million

Additional Disclosures (Regulation 52(4))

Standalone Ratios:

  • Debt Equity Ratio: 0.73
  • Interest Service Coverage Ratio: 6.58
  • Current Ratio: 1.49
  • Operating Margin: 21.80%
  • Net Profit Margin: 12.57%

Consolidated Ratios:

  • Debt Equity Ratio: 1.24
  • Interest Service Coverage Ratio: 4.00
  • Current Ratio: 2.15
  • Operating Margin: 17.50%
  • Net Profit Margin: 7.72%

Audit Review Scope

  • Statutory auditors reviewed 17 subsidiaries directly
  • Relied on other auditors for 7 subsidiaries (₹324.25 million revenue, ₹150.78 million net loss)
  • Included unaudited financials of 2 subsidiaries and 3 equity accounted investees (not material)
  • Relied on actuarial certificates for insurance subsidiaries NHIL and CIHL

Entity Structure

Consolidated results include:

  • 10 direct subsidiaries
  • 7 subsidiaries of HCCI
  • 1 associate (Reya Health Inc)
  • 1 joint venture (Everhope Oncology) with 1 subsidiary
  • 3 subsidiaries of NH UK
  • 1 subsidiary of NHDPL