Narayana Hrudayalaya Limited submitted its Investor Presentation for the quarter ended December 31, 2025 (Q3 FY26) on February 13, 2026. The update highlights significant growth, with consolidated operating revenues reaching ₹21,512 Mn, a 61.2% YoY increase. Key operational milestones included major cardiac surgeries and the first heart transplant at the Ahmedabad facility. The company continues to focus on expansion and ESG initiatives.
Q3 FY26 Investor Update Summary
Narayana Hrudayalaya Limited released its detailed Investor Presentation covering performance for the quarter ended December 31, 2025 (Q3 FY26). The submission confirms continued operational and financial momentum across its domestic and international segments.
Financial Performance Highlights
The financial results for Q3 FY26 demonstrated robust growth:
- Consolidated operating revenues stood at ₹21,512 Mn, reflecting a +61.2% YoY change and +30.9% QoQ growth.
- Consolidated EBITDA was ₹3,904 Mn, achieving a margin of 18.2% (profitability before one-time costs).
- Consolidated PAT stood at ₹1,281 Mn, resulting in a margin of 6.0% (before one-time costs).
- The net debt to equity ratio was 0.53 as of December 31, 2025.
Operational Highlights and Clinical Milestones
Key clinical achievements noted during the quarter include:
- Narayana Institute of Cardiac Sciences, Bangalore performed 244 robotic cardiac surgeries (35% increase QoQ) and 48 TAVIs (50% increase YoY).
- Narayana Super-specialty Hospital, Howrah completed Complex Pediatric Interventions.
- Narayana Multi-specialty Hospital, Ahmedabad successfully completed its first ever heart transplant in December 2025.
Revenue Segment Analysis (Q3 FY26)
India operations contributed ₹11,780 Mn to the Total Revenue. The company saw strong growth in International revenue (₹583 Mn, 46.6% YoY) and Integrated Care (NHIC and NHIL) revenue (₹232 Mn, 116.9% YoY).
In India Hospital Operations revenue mix:
- Owned Hospitals accounted for 73% of the business mix.
- Cardiac Sciences represented the largest specialty profile at 33%.
- Domestic Walk-in patients formed the largest payor profile at 45%.
Geographic Performance Snapshot
The company provided operational reviews for its international operations:
- Cayman Islands Hospital Revenues grew to US$ 44.8 Mn (27.1% YoY). Insurance Revenues (CIHL) saw an exceptional 1332% YoY increase, reaching US$ 12.9 Mn.
- UK Operations (Consolidated Q3 FY26) showed Revenue of 42 GBP Mn. The resulting Adjusted PAT was (1.2) GBP Mn, reflecting acquisition-related costs.
Expansion and Capex Strategy
The company continues strategic capital expenditure towards strengthening flagship regions. Total Current Bed Capacity as of December 31, 2025, was 5,750 beds, targeting over 7,600+ beds by FY30.
Key Capex Heads for FY26 (Projected):
- Greenfield/Inorganic: ₹4,240 Mn
- Replacement/Maintenance: ₹2,865 Mn
- Cayman: ₹457 Mn
ESG Vision Progress
Progress toward the “Health For All” vision was noted, with Renewable energy mix at 37.28% (Target 38.00%) and 166 Publications achieved against a target of 1000+ by 2030.
Shareholding Pattern
As of December 31, 2025, the Promoter Group held 63.3% of the total 204,360,804 shares.
Source: BSE
