Narayana Hrudayalaya Ltd. has informed the Exchange about Transcript of the Earnings Call of the Company held on Tuesday, February 17, 2026
NH · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Awaiting price reaction for this filing.
India business posted a second consecutive quarter of strong profit growth with 150-200 bps YoY margin expansion, driven by transformation programs, payor mix optimization, higher realizations, and increased robotic cardiac and high-end procedures. The Bangalore cluster led performance, while the northern cluster faced headwinds from receivables issues, scheme reimbursement caps, and rising competition. The Cayman hospital revenue is at $45 million with insurance book expansion continuing. The UK Practice Plus acquisition (GBP 183M: GBP 150M debt + GBP 45M equity) is on track, expected to be EPS neutral, with margin improvement plans focused on technology rollout, operational efficiencies, and growing the private payor mix. Capex of around INR 3,000 crore will be funded through internal accruals and debt, with a net debt/EBITDA target below 2.5. Management ruled out further international acquisitions, stating capital priority remains India.
Continued India margin expansion supports near-term earnings growth, but lack of clear timelines for insurance/clinics breakeven and UK integration execution risk may cap upside. Stock likely to track India margin trajectory and UK operating updates over the next 2-3 quarters.