Narayana Hrudayalaya Q2 FY27 Revenue Surges 73% YoY to ₹28,440 Mn on UK Acquisition
Narayana Hrudayalaya reported Q2 FY27 consolidated revenue of ₹ 28,440 Mn, up 73% YoY, driven by UK acquisition. EBITDA rose 42% to ₹ 6,054 Mn. Excluding UK, revenue grew 22.6% YoY. India revenue increased 16.6% YoY. The company is expanding capacity with new hospitals.
The significant revenue growth, driven by a major acquisition, and the robust performance of core business segments indicate a substantial positive impact on the company's financial standing and future prospects.
The company reported strong year-on-year growth in revenue and EBITDA, along with improved margins in key segments like India and Cayman. Expansion plans and a strong balance sheet further contribute to the positive sentiment.
Narayana Hrudayalaya Limited announced its financial results for the second quarter (Q2 FY27) ended September 30, 2026. The company reported a consolidated operating revenue of ₹ 28,440 Million (Mn), marking a significant year-on-year (YoY) growth of 73.0% and a 6.0% increase quarter-on-quarter (QoQ). This substantial growth was largely attributed to the UK acquisition.
Consolidated EBITDA for the quarter stood at ₹ 6,054 Mn, showing a YoY growth of 42.0% and a QoQ increase of 19.8%. The Profit After Tax (PAT) was ₹ 3,012 Mn, up 16.6% YoY and 45.3% QoQ, with a PAT margin of 10.6%.
Excluding the UK operations, the underlying business demonstrated robust performance. Revenue grew 22.6% YoY to ₹ 20,156 Mn and EBITDA increased by 27.8% to ₹ 5,452 Mn, with the margin expanding to 27.0% from 25.9% in the previous year.
In India, revenue grew 16.6% YoY to ₹ 14,402 Mn, driven by higher patient volumes and complex procedures. The India hospitals' EBITDA margin expanded to 26.8% from 23.8% a year ago. The Cayman Islands business also showed a sharp profitability improvement, with EBITDA rising to US$ 22.1 Mn from US$ 17.9 Mn in the prior year.
Narayana Hrudayalaya expanded its capacity with the commissioning of the Banashankari hospital in Bengaluru and the addition of a 120-bed hospital at Park Street, Kolkata, taking the pipeline to approximately 1,555 beds and a bed capacity target of over 7,800.
The company's balance sheet remains strong, with net debt at ₹ 18,830 Mn as of September 30, 2026, resulting in a net debt to equity ratio of 0.38, down from 0.42 at the end of June 2026.
Dr. Emmanuel Rupert, Managing Director and Group CEO, expressed optimism about the quarter's performance, highlighting the sequential margin improvement in India and Cayman, robust growth in India driven by patient volumes and a richer mix of procedures, and the strategic capacity expansion. He also noted stable revenues in the UK with expected normalization of margins over time.
What to do with a filing like this
Narayana Hrudayalaya Ltd. filed this with the NSE as a statutory disclosure, categorised under quarterly results. It is a primary document, not a recommendation, and the desk marks it high impact, which is the band that most often changes something.
That call is the part a filing cannot make for you. On RealCase, SEBI-registered research analysts and investment advisers read announcements like this one and turn the ones that matter into actions inside their model portfolios: a change in weight, a hold, or nothing at all. You are not left working out which of the roughly 250 filings published each day needs a response. The portfolio you follow is updated when a filing actually warrants it, with the reason written down.
See the model portfoliosA plain-language summary of a public exchange filing by Narayana Hrudayalaya Ltd.. Read the original for the full detail.