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Narayana Hrudayalaya Q2 FY27 Share Price & Earnings Call Analysis

₹1,720.20+0.33% today
Market cap
₹35,162 Cr
P/E
40.80
ROE
20.54%
PEG
3.42
Price to sales
3.86
Debt to equity
1.29
52W high / low
₹2,080 / ₹1,605
Sales growth (5Y)
25.04%
EBITDA margin
19.21%
Net profit margin
10.62%
Promoter holding
63.27%
Sales (last year)
₹9,072 Cr

Narayana Hrudayalaya Ltd is engaged in providing economical healthcare services. It has a network of multispecialty and super specialty hospitals spread across multiple locations.[1]

Guidance scorecard · Q2 FY27 call

What Narayana Hrudayalaya Ltd's management guided
and where it ranks in Healthcare Services

#25of 33 in
Healthcare Services
Revenue10–20%MarginsUp 0–2%CapexPlannedFundraisingPlannedOrder bookWhat management said

RevenueQ1 FY27 call

10–20%
  • India hospital business shows strong revenue growth driven by a combination of increased footfalls and ARPOB (Average Revenue Per Occupied Bed).
  • Clinics contribute significantly, with OP consults growing about 30% YoY and 66,000 consultations in Q1, supporting hospital footfalls and overall revenue.
  • Expansion plans include adding new beds, such as the Southwest Bangalore project expected to start by end of Q2 FY27.
  • Focused capital deployment in clusters where the company already has presence, with possible new geographic markets considered after Phase 1 progress.
  • Efforts to change payer mix in the UK from mainly NHS to a more balanced one with private and self-pay revenues, expected to increase private contribution over time.

2 more points from Narayana Hrudayalaya Ltd's call on revenue

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Full Q1 FY27 analysis

MarginsQ1 FY27 call

Up 0–2%

See what Narayana Hrudayalaya Ltd said on margins — free account, 30 seconds.

Full Q1 FY27 analysis

CapexQ1 FY27 call

Planned
  • The company has an outlined capital deployment plan focused on expansion within clusters where they already have a strong presence, over the next 3 financial years.
  • Projects include hospital expansions such as the North Bangalore project, prioritized in their second round of expansion.
  • Some projects have been postponed slightly due to partner-related licensing delays but remain within acceptable timeframes.
  • The Southwest Bangalore 100-bed project is expected to start by end of Q2 FY27.
  • Capital investment will continue with a focus on affordable care philosophy, balancing leverage benefits, new growth verticals like integrated care, and customer returns.
  • The UK business acquisition involves no significant further capital deployment currently; focus is on improving earnings from existing capital.

2 more points from Narayana Hrudayalaya Ltd's call on capex

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Full Q1 FY27 analysis

FundraisingQ1 FY27 call

Planned

See what Narayana Hrudayalaya Ltd said on fundraising — free account, 30 seconds.

Full Q1 FY27 analysis

Order bookQ1 FY27 call

Ask what Narayana Hrudayalaya Ltd said on the order book →

Full Q1 FY27 analysis
Full Healthcare Services ranking

Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.

Potential multibaggers · Q2 FY27

Potential multibaggers in Healthcare Services
on management's own guidance

  1. Strong growth
    2
  2. Strong growth
    1
  3. Aster DM Quality Care LtdGood growth
    3
See all potential multibaggersWhere does Narayana Hrudayalaya Ltd rank?

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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.

Peers

Healthcare Services companies ranked on guidance

#CompanyRevenue guidedMargin guidedMarket capP/E
140%+Up 2%+₹903 Cr—
240%+Flat₹583 Cr22.2
3Aster DM Quality Care Ltd20–40%Up 2%+₹58,782 Cr162.9
420–40%Up 0–2%₹1,730 Cr17.5
520–40%Up 0–2%₹580 Cr11.9
620–40%Flat₹1.13L Cr53.9

Sign up free to see every company in the sector ranking and track Narayana Hrudayalaya Ltd.

Pro shows every company guiding 40%+ revenue growth →Full Healthcare Services ranking

Financials of Narayana Hrudayalaya Ltd

Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.

Shareholder Pattern

Narayana Hrudayalaya Ltd

Shareholding breakup across reporting periods.

Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Promoters +63.85%63.85%63.85%63.85%63.85%63.85%63.85%63.85%63.27%63.27%63.27%63.27%
FIIs +11.51%10.91%10.01%9.69%9.45%9.66%10.46%10.49%11.10%9.98%9.40%9.01%
DIIs +10.23%9.51%8.22%7.90%8.68%8.52%8.09%7.76%7.91%9.14%9.05%10.68%
Government +0.00%0.01%0.01%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
Public +13.78%15.12%17.29%17.94%17.39%17.34%16.98%17.29%17.09%16.98%17.65%16.42%
Others +0.62%0.62%0.62%0.62%0.62%0.62%0.62%0.62%0.62%0.62%0.62%0.62%
No. of Shareholders1,20,5061,38,0521,60,6861,78,3561,77,7921,85,7872,05,6392,26,4802,28,1232,20,5612,11,1731,98,623

Financials of Narayana Hrudayalaya Ltd

Quarterly Results

Quarter-by-quarter operating performance

Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Sales +1,3051,2041,2461,3061,3671,3351,4751,5071,6442,1512,5942,6842,844
Expenses +9979259551,0041,0581,0271,1181,1711,2431,7862,0862,2162,293
Operating Profit308279291302309307358337401365508468551
OPM %24%23%23%23%23%23%24%22%24%17%20%17%19%
Other Income +181826242318202424-29253552
Interest23252834353741454265918797
Depreciation556365616570828487122154156163
Profit before tax248209225231232219254232296149288260343
Tax %9%10%15%13%14%12%22%15%13%15%22%20%12%
Net Profit +227188191202199193197197258127224207301
EPS in Rs11.099.209.339.859.729.449.659.6212.646.2010.9610.1414.73

Financials of Narayana Hrudayalaya Ltd

Profit & Loss

Annual income statement trend

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales +1,3641,6141,8782,2812,8613,1282,5833,7014,5254,8905,4837,89610,273
Expenses +1,2361,4341,6422,0642,5662,6942,3943,0383,5383,7224,1856,2558,380
Operating Profit1281802362172954341896649871,1681,2981,6411,893
OPM %9%11%13%10%10%14%7%18%22%24%24%21%18%
Other Income +6-1971816721265973803783
Interest453328558194827684112163266340
Depreciation687680100137186184183210241278448595
Profit before tax21511358093161-564307528889369641,041
Tax %71%59%39%36%37%26%-75%20%19%11%16%16%
Net Profit +-1921835159119-14342607790791806859
EPS in Rs-0.841.044.062.512.905.82-0.7016.7329.6738.6238.6639.4242.03
Dividend Payout %0%0%0%0%35%17%0%6%8%10%12%11%

Financials of Narayana Hrudayalaya Ltd

Balance Sheet

Capital structure and asset base

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026Sep 2026
Equity Capital200204204204204204204204204204204204204
Reserves5686727598318779329161,2841,9272,6793,4224,3334,799
Borrowings +3622582178028139528267238841,6272,4285,8586,075
Other Liabilities +2414244686927468138339311,1551,1231,2162,0882,289
Total Liabilities1,3711,5571,6482,5292,6402,9012,7793,1434,1705,6337,27112,48213,367
Fixed Assets +9131,0541,0821,8481,8382,0921,9611,9802,3362,6514,2667,7968,046
CWIP201453355612206725951486292328
Investments528796917861201322528441,0845731,242
Other Assets +3854024176377297116789641,3231,6241,8353,8223,752
Total Assets1,3711,5571,6482,5292,6402,9012,7793,1434,1705,6337,27112,48213,367

Financials of Narayana Hrudayalaya Ltd

Cash Flows

Operating, investing and financing cash movement

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity +771742191822794433044851,0851,0679861,621
Cash from Investing Activity +-223-150-146-520-162-189-113-267-1,176-1,458-1,325-3,648
Cash from Financing Activity +14018-45315-27-247-194-159884885442,340
Net Cash Flow-64228-22897-259-497205313
Free Cash Flow-158685-2012932923523556399-93753
CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit78%116%108%100%113%117%133%83%119%99%86%108%

Financials of Narayana Hrudayalaya Ltd

Ratios

Working capital efficiency and return ratios

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days383430453431394335313730
Inventory Days564845564835323031444042
Days Payable146152173200177177221180224214185248
Cash Conversion Cycle-51-70-98-100-95-111-150-108-158-138-108-176
Working Capital Days-30-12-11-10-10-22-38-16-25-30-17-19
ROCE %7%9%14%9%9%14%2%25%32%26%21%16%

Guidance history

How Narayana Hrudayalaya Ltd's guidance has moved, call by call

CallRevenueMarginsCapexFundraisingOrder book
Q1 FY27 call →10–20%Up 0–2%PlannedPlanned—
Q4 FY26 call →10–20%FlatPlannedPlanned—
Q3 FY26 call →10–20%FlatPlannedNone planned—
Q2 FY26 call →10–20%FlatPlannedPlanned—

What management guided on each call, newest first. Not investment advice, and not a forecast of returns.

25out of 100

Momentum score · price trend

25 out of 100 — Cooling

Over the past year its share price has done worse than most of the stocks we track.

PeriodShare price changeBetter than … of 1,910 stocks
Last 12 months−4.2%57%
Last 6 months−2.6%52%
Last 3 months−15.2%32%

The price is 24% below its all-time high of ₹2,263.2 (27 Jun 2025). Stocks more than 20% below their peak have their score halved, so 50 became 25.

How we calculate it

“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).

The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For Narayana Hrudayalaya Ltd: 0.4 × 57 + 0.4 × 52 + 0.2 × 32 = 50, halved to 25 because the price is more than 20% below its all-time high.

Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.

Full methodology →

This describes only how the share price has moved up to 30 Oct 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.

Continue your research

What Narayana Hrudayalaya Ltd's management said in earlier quarters

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