Narayana Hrudayalaya Ltd. Earnings Summary — Q4 FY2026
Narayana Hrudayalaya Reports Massive 108% Revenue Surge with Robust Operational Profit Growth in Q4
Quarterly Business Intelligence
AI Quarterly Scorecard™
Computed deterministically from the last 10 reported quarters.
Quarterly Business Momentum
- Revenue has increased for 7 consecutive quarters.
- Revenue of ₹2,684 Cr is 78.0% higher year-on-year.
- Revenue has compounded at 40.6% annualised over the last 10 quarters.
- Revenue is at its highest level in 10 quarters.
- Net profit of ₹207 Cr is 5.4% above the same quarter last year.
- Profit growth is trailing revenue growth this quarter.
- Net profit has compounded at 3.8% annualised across the period.
- Operating margin stands at 17.4% in Q1 FY2027.
- Operating margin compressed by 490 bps year-on-year.
- Over the last two years operating margin has contracted by 572 bps.
- PBT margin is 9.7%.
- Expenses grew 89.3% against revenue growth of 78.0%.
- Operating profit of ₹468 Cr is 39.0% higher year-on-year.
- Operating leverage has been under pressure recently.
- 6 of the last 6 measured quarters delivered year-on-year revenue growth.
- Overall quarterly business momentum scores 62/100 (Healthy) on the latest 10 quarters.
- Business momentum remains positive heading into the next quarter.
Quarterly Financials
Last 10 Reported Quarters • All figures in ₹ Crore • Margins in %
| Metric | Trend | Latest Q1 FY2027 | Q4 FY2026 | Q3 FY2026 | Q2 FY2026 | Q1 FY2026 | Q4 FY2025 | Q3 FY2025 | Q2 FY2025 | Q1 FY2025 | Q4 FY2024 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | Accelerating | 2,684 | 2,594 | 2,151 | 1,644 | 1,507 | 1,475 | 1,335 | 1,367 | 1,306 | 1,246 |
| Expenses | Accelerating | 2,216 | 2,086 | 1,786 | 1,243 | 1,171 | 1,118 | 1,027 | 1,058 | 1,004 | 955 |
| Operating Profit | Improving | 468 | 508 | 365 | 401 | 337 | 358 | 307 | 309 | 302 | 291 |
| Operating Margin | Stable | 17.4% | 19.6% | 17.0% | 24.4% | 22.3% | 24.2% | 23.0% | 22.6% | 23.1% | 23.4% |
| Other Income | Volatile | 35 | 25 | -29 | 24 | 24 | 20 | 18 | 23 | 24 | 26 |
| Interest | Strong Uptrend | 87 | 91 | 65 | 42 | 45 | 41 | 37 | 35 | 34 | 28 |
| Depreciation | Accelerating | 156 | 154 | 122 | 87 | 84 | 83 | 70 | 65 | 61 | 65 |
| Profit Before Tax | Improving | 260 | 288 | 149 | 296 | 232 | 254 | 219 | 232 | 231 | 225 |
| Tax | Volatile | 53 | 64 | 22 | 37 | 35 | 57 | 26 | 33 | 30 | 34 |
| Net Profit | Improving | 207 | 224 | 127 | 258 | 197 | 197 | 193 | 199 | 201 | 191 |
| Net Margin | Stable | 7.7% | 8.6% | 5.9% | 15.7% | 13.1% | 13.4% | 14.5% | 14.5% | 15.4% | 15.3% |
Key Takeaways
- Revenue for the quarter surged by 75.86% year-on-year, reaching a record INR 2,594 Cr.
- Operating profit reached INR 508 Cr, the highest quarterly figure in the company's reporting history.
- Net profit saw a sharp sequential recovery of 76% following a relatively weak December 2025 quarter.
- The balance sheet shows a massive expansion phase with borrowings rising to INR 5,857 Cr to fund growth.
- Interest costs have nearly doubled year-on-year to INR 91 Cr, reflecting the increased leverage.
- The company effectively maintained high volumes despite the margin compression from 24% to 20% compared to last March.
- Depreciation increased significantly to INR 154 Cr, signaling the commissioning of new assets and capacities.
Management Guidance
The company is in an aggressive expansionary phase, shifting from a founder-led model to a professionalised multi-specialty powerhouse with a focus on digital health and insurance (NH-Atreya).
Sentiment Shift
Improving
A strong sequential rebound in net profit and record-breaking revenue growth offset concerns regarding rising debt levels and interest costs.
Outlook
NH is moving toward more complex quaternary care and international expansion in the Cayman Islands. While near-term margins may be pressured by the gestation of new capacities and higher finance costs, the scale-up in revenue suggests strong market demand.
From the Annual Report (Key Quotes)
“NH has transformed from a domestic cardiac-focused chain into a diversified multi-specialty healthcare powerhouse.”
“A significant international profit engine in the Cayman Islands continues to bolster performance.”
“The balance sheet is currently in an expansionary phase, reflecting aggressive brownfield and greenfield investments.”
Official Quarterly Documents
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This summary is AI-generated from Narayana Hrudayalaya Ltd.'s latest quarterly filing and earnings call. For informational purposes only — not investment advice.