Unaudited Standalone and Consolidated Financial Results for the quarter ended June 30, 2025.
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Narayana Hrudayalaya reported its Q1 FY26 (quarter ended June 30, 2025) results. Consolidated revenue from operations grew about 15.4% year-on-year to ₹1,507 crore, while standalone revenue grew about 8.2% to ₹943 crore. Consolidated EBITDA was ₹361 crore against ₹326 crore in Q1 FY25, and net profit stood at ₹197 crore versus ₹201 crore, essentially flat. Standalone net profit rose marginally to ₹87 crore from ₹86 crore. The Board also approved seeking shareholder approval to raise up to ₹2,500 crore in debt securities (including NCDs) on a private placement basis, a higher limit than before. Additionally, the scheme to merge subsidiary Meridian Medical Research & Hospital Ltd. with the company received 'No Observation' letters from BSE and NSE and will now move to the NCLT. Deloitte Haskins & Sells LLP issued an unqualified limited review report on both sets of results.
The proposed ₹2,500 crore debt raise is the key development for shareholders, as it could materially increase leverage (current debt-to-equity is 0.65 standalone, 0.58 consolidated) depending on drawdowns. Operating performance is steady with mid-teens consolidated revenue growth, but margin and profit growth have been muted, partly due to the Vaishno Devi hospital being classified as discontinued operations.