NephroPlus Q1 FY27 Earnings Call Transcript Released, Revenue Up 23.7%
NephroPlus reported Q1 FY27 revenue growth of 23.7% to INR282 crores and adjusted EBITDA growth of 30.7% to INR65 crores. Active patients increased by 13% to 38,262, with 10.3 lakh treatments performed. The company added 26 new clinics, expanding its network to 550 clinics across 5 countries. International operations now account for 45% of revenue. The medium-term growth guidance is 15-20% annually.
The announcement details robust financial performance, significant network expansion, and strategic growth initiatives, all of which are material to investors and indicate positive future prospects for the company.
The company reported strong year-on-year growth in revenue and EBITDA, alongside an increase in active patients and treatments. Expansion in both domestic and international markets, along with positive financial metrics and a clear growth strategy, indicates a favorable outlook.
Nephrocare Health Services Limited (NephroPlus) has released the transcript of its Investors’ Conference Call held on August 12, 2026, to discuss the Un-audited Standalone and Consolidated Financial Results for the quarter ended June 30, 2026.
During the call, the management reported a steady start to FY27, with Q1 revenues growing over 20% year-on-year. Specifically, revenue increased by 23.7% year-on-year to INR282 crores. Adjusted EBITDA grew by 30.7% to INR65 crores, with margins expanding 120 basis points to 23.1%. Active patients, referred to as guests, grew by 13% to 38,262, and the company surpassed 10.3 lakh treatments in the quarter, a 13.3% increase.
The company added 26 new clinics during the quarter (19 in India and 7 in the Philippines), expanding its network to 550 clinics across 5 countries and 357 cities. International operations now contribute approximately 45% of the revenue. The Philippines business continues to validate the NephroPlus India model, having grown to 50 clinics across 39 cities in six years, making it the second-largest dialysis network there.
NephroPlus emphasized its focus on three core pillars: quality of care, accessibility, and affordability. Quality is managed by a dedicated team reporting to the Chief Medical Officer, independent of business operations. Accessibility is enhanced through network expansion, with 17 new cities added in India and 5 in the Philippines in the last quarter. Affordability is addressed through a reimbursement-led model, working with government schemes and insurance providers.
The company highlighted its growth strategy driven by three levers: increasing guest volumes in existing clinics, expanding its footprint within current countries through new clinics and acquisitions, and entering new countries via strategic opportunities like Public-Private Partnerships (PPPs). NephroPlus also detailed its commitment to clinical quality, including an early vascular access program and the NephroPlus Index for predicting outcomes. The launch of the NephroPlus International Dialysis Academy (NIDA) aims to build a pipeline of qualified renal nurses for international expansion. Digitization efforts and AI deployment are also underway to improve processes and guest experience.
Financially, adjusted EBITDA margin improved to 23.1% from 21.9% year-on-year. Adjusted PAT grew by 41.7% to INR37 crores, with an improved margin of 13.1%. Revenue per treatment (RPT) increased by 9.2% to INR2,733, driven by higher international contributions. The company has utilized 68% (INR207 crores) of its IPO proceeds for network expansion, acquisitions, and debt repayment. The medium-term growth guidance remains at 15% to 20% over the next three to five years.
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