| Metric | Value (₹ Cr) | Q1 FY26 | Q2 FY25 |
|---|---|---|---|
| Revenue | 1.6K | 9.1% | 17.4% |
| Total Income | 1.7K | 8.9% | 17.1% |
| Expenditure | 1.4K | 5.5% | 15.0% |
| PBT | 296.76 | 28.3% | 28.0% |
| Net Profit | 258.50 | 31.4% | 30.0% |
| OPM | 24.49% | 2.13pp | 16.78pp |
| NPM | 15.50% | 2.65pp | 1.54pp |
| EPS | 12.71 | 31.7% | 30.0% |
Narayana Hrudayalaya Q2 FY26 Results: 20.3% YoY Revenue Growth, 28.3% EBITDA Growth
14 Nov 2025 · 14 Nov 2025, 08:15 pm
Summary
Narayana Hrudayalaya, a leading healthcare service provider in India, announced its financial results for the second quarter (Q2 FY26) ended September 30, 2025. The company reported a consolidated operating revenue of INR 16,438 Mn, reflecting a YoY growth of 20.3% and an EBITDA of INR 4,265 Mn, reflecting a YoY growth of 28.3%.
Key Highlights
- 1
Consolidated total operating revenue was INR 16,438 Mn for Q2 FY26, reflecting a change of +20.3 % YoY and +9.1% QoQ.
- 2
Consolidated EBITDA stood at INR 4,265 Mn, reflecting a margin of 25.9% as against INR 3,323 Mn in Q2 FY25, translating into a change of +28.3% YoY and +18.2% QoQ.
- 3
Consolidated PAT stood at INR 2,583 Mn, reflecting a margin of 15.7% as compared to INR 1,993 Mn in Q2 FY25, translating into a change of +29.6% YoY and +31.7% QoQ.
- 4
India operating revenue was INR 12,347 Mn for Q2 FY26 as compared to INR 11,351 Mn in the corresponding period of the previous year, reflecting a change of +8.8% YoY and +9.0% QoQ.
- 5
Cayman operating revenue was INR 4,316 Mn for Q2 FY26 as compared to INR 2,423 Mn in the corresponding period of the previous year, reflecting a change of +78.1% YoY and +8.8% QoQ.
- 6
Total Borrowings less Cash & Bank Balance and Investments was INR 2,466 Mn, representing a net debt to equity ratio of 0.06.
Management Comments
Dr. Emmanuel Rupert
The second quarter of the fiscal year has delivered a strong performance after a steady start to the year. We are pleased to report the highest-ever revenue and profitability at both India and the Group level. The performance improvement in India is attributable to strong growth in domestic footfall and improvements in payor mix, along with positive traction from our Clinics outreach, resulting in the highest ever profitability margins. Our hospital business in Cayman continues to deliver robust performance, with the Insurance business showing strong growth, resulting in record revenues for the region. We are confident that the synergies between the hospital and insurance businesses will deliver steady growth going forward in the Cayman region. The domestic Integrated Care business continues to be on a strong growth path, with our clinics garnering sizeable footfalls across all locations, providing a positive thrust to the overall business. After a steady start, our domestic Insurance business has shown strong momentum this quarter and we expect to build on this further going forward. We will continue to invest in this business and are optimistic that it will be a significant driver of growth to the NH ecosystem. We thank the investor community for their faith in us and remain confident of delivering on expectations for the year.
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