Quarterly Financial Performance (Q4 FY26)

Revenue Performance:

  • Consolidated operating revenue: ₹25,938 Mn, representing 75.8% YoY growth and 20.6% QoQ growth
  • India operating revenue: ₹12,505 Mn, up 12.8% YoY and 6.0% QoQ
  • Cayman operating revenue: ₹5,618 Mn, up 47.9% YoY and 12.5% QoQ
  • UK operating revenue: ₹8,090 Mn, showing 65% QoQ growth

Profitability Metrics:

  • Consolidated Adj. EBITDA: ₹5,394 Mn with 20.8% margin, representing 40.3% YoY growth and 15.7% QoQ growth
  • Consolidated Adj. PAT: ₹2,283 Mn with 8.8% margin, showing 16.3% YoY growth but -10.4% QoQ decline
  • Consolidated EBITDA (before adjustments): ₹5,392 Mn with 20.8% margin, up 40.2% YoY
  • PAT (before adjustments): ₹2,280 Mn with 8.8% margin, up 16.2% YoY

Annual Financial Performance (FY26)

Revenue Performance:

  • Consolidated operating revenue: ₹78,960 Mn, representing 44.0% YoY growth
  • India operating revenue: ₹47,974 Mn, up 10.3% YoY
  • Cayman operating revenue: ₹18,893 Mn, up 59.7% YoY
  • UK operating revenue: ₹12,992 Mn (from acquisition date November 6, 2025)

Profitability Metrics:

  • Consolidated Adj. EBITDA: ₹17,928 Mn with 22.7% margin, representing 31.0% YoY growth
  • Consolidated Adj. PAT: ₹9,374 Mn with 11.9% margin, showing 18.7% YoY growth
  • Consolidated EBITDA (before adjustments): ₹17,169 Mn with 21.7% margin
  • PAT (before adjustments): ₹8,105 Mn with 10.3% margin

Adjustments and One-time Costs:

  • FY26 Consolidated EBITDA adjusted with one-time acquisition cost of ₹760 Mn
  • PAT further adjusted with one-time impact due to new labor code of ₹510 Mn

Balance Sheet and Debt Position

As of March 31, 2026:

  • Total Borrowings less Cash & Bank Balance and Investments: ₹22,397 Mn
  • Net debt to equity ratio: 0.49
  • Foreign currency denominated debt: US$117 Mn and GBP £150 Mn

Operational Highlights

Robotic Cardiac Surgery:

  • Group performed 750+ surgeries in FY26
  • Narayana Institute of Cardiac Sciences performed 247 Robotic Cardiac Surgeries in Q4 FY26 and 727 in FY26
  • Performed 160 TAVIs in FY26, representing 20% volume increase YoY

Facility Updates:

  • Narayana Hospital Mysuru inaugurated Next-generation Radiation Therapy services Elekta System
  • Performed Novel Laparoscopic Microwave Ablation for fibroid uterus under ultrasound guidance
  • Iodine Therapy facility operationalized in Narayana Hospital Howrah

Acquisition and Integration

The company successfully acquired the hospital business of Practice Plus Group in November 2025. The UK operations contributed revenue from the acquisition date (November 6, 2025) and integration is progressing in line with management expectations.

Management Commentary

Dr. Emmanuel Rupert, Managing Director and Group CEO, highlighted:

  • FY26 marked an important milestone with the successful acquisition
  • All geographies performed well, delivering highest-ever revenue at Group level in Q4
  • India business benefited from domestic focus, transformation initiatives, high value procedures, and efficient technology usage
  • Cayman business delivered robust performance with addition of Health City Camana Bay and sustained demand
  • Narayana One Health strengthened integrated healthcare delivery model
  • Expanding clinic and insurance network enhanced patient outreach

Company Overview

Narayana Hrudayalaya Limited operates a network of 55 healthcare facilities across India, Cayman Islands, and United Kingdom, with over 5,900 operational beds and capacity of over 6,200 beds.

Exchange Rate Notes

  • Cayman & UK numbers converted from USD to INR at 88.31 for FY26, and 84.57 for FY25
  • UK numbers converted from GBP to USD at 1.34 for FY26
  • UK numbers for FY26 considered from acquisition date (November 6, 2025)
  • Consolidated revenue & EBITDA numbers adjusted for inter-company eliminations

Investor Conference Call

Scheduled for Tuesday, May 26, 2026 at 03:00 PM IST to discuss Q4 FY26 and FY26 results.

#Tags: #NarayanaHrudayalaya #FinancialResults #Healthcare #Acquisition #RevenueGrowth