Narayana Hrudayalaya Limited announced its Q2 FY27 financial results, reporting a consolidated operating revenue of ₹28,440 Mn, a substantial increase of 73.0% year-over-year. EBITDA also saw significant growth, rising 42.0% to ₹6,054 Mn. The company attributed the strong performance to the UK acquisition and robust growth in its India operations, including expanded capacity and improved profitability in the Cayman Islands.
Narayana Health Reports Strong Q2 FY27 Performance
Narayana Hrudayalaya Limited has announced robust financial results for the second quarter of FY27 (ended September 30, 2026). The company reported a consolidated operating revenue of ₹28,440 Mn, marking a significant year-over-year growth of 73.0%. This impressive surge was largely attributed to the acquisition of UK operations. EBITDA for the quarter stood at ₹6,054 Mn, up 42.0% year-over-year, with a 21.3% margin. Profit After Tax (PAT) grew 16.6% YoY to ₹3,012 Mn.
Key Financial Highlights (Q2 FY27)
- Consolidated Revenue: ₹28,440 Mn (+73.0% YoY)
- Consolidated EBITDA: ₹6,054 Mn (+42.0% YoY)
- Consolidated PAT: ₹3,012 Mn (+16.6% YoY)
- Net Debt/Equity Ratio: 0.38x (down from 0.42x at June 30, 2026)
Segment Performance and Growth Drivers
Excluding the UK operations, revenue grew 22.6% YoY to ₹20,156 Mn, with EBITDA up 27.8% to ₹5,452 Mn, and a margin expansion to 27.0%. India revenue saw a 16.6% YoY increase, driven by higher patient volumes, complex procedures, and a 75.7% rise in international patient revenue. The company’s India hospitals EBITDA margin expanded to 26.8% from 23.8% a year ago.
In the Cayman Islands, EBITDA saw a sharp improvement, rising to US$ 22.1 Mn from US$ 17.9 Mn a year ago, with insurance losses narrowing. The company also expanded its capacity, commissioning its Banashankari hospital in Bengaluru and adding a 120-bed hospital in Kolkata, increasing its pipeline to approximately 1,555 beds.
Strong Balance Sheet and Future Outlook
The company maintained a strong balance sheet, with net debt at ₹18,830 Mn as of September 30, 2026, resulting in a net debt to equity ratio of 0.38. Looking ahead, Narayana Health plans to grow its total bed capacity to over 7,800 beds through several India projects. For FY27, the company plans ₹4,600 Mn in growth capex and ₹2,700 Mn in maintenance capex.
Clinical Milestones
Narayana Health also highlighted several clinical achievements, including South India’s first Percutaneous Transcatheter Tricuspid Valve Replacement (TTVR) and India’s first Transcatheter Tricuspid Valve Implantation (TTVI) on a 14-year-old. The company also performed 54 TAVIs and 6 hybrid percutaneous pulmonary valve implantations, along with managing a complex surgical case of a newborn with a rare sternal cleft.
Source: BSE
