Narayana Hrudayalaya Ltd.

NSE: NHHospital

Share price

₹1,695.30

-1.62% close of 8 Oct 2026

Market cap ₹34,584 CrP/E 40.1

Business score

How strong the business is, in one number. The parts behind it are in Pro.

out of 100 · worked out 8 Oct 2026

Your ratios

The numbers you want to see first. Tap Edit to change them.

Market cap

₹34,584 Cr

P/E ratio

40.1

P/B ratio

7.6

ROCE

15.5%

ROE

20.6%

Dividend yield

0.3%

Price & valuation chart

How the share price and its valuation have moved. Hover over the chart to see any day. Prices as of the last close.

Prices as of 8 Oct 2026 close52-week high ₹2,080.3052-week low ₹1,605.30

Answers

Simple answers to the questions investors ask most, from the company's own numbers.

How fast it has been growing

Sales grew 59.6% over the past year, and 15.1% a year over its longer record. Meanwhile what it keeps of every 100 rupees of sales improved from 18.2% to 19.6% over the last four years.

Whether it grew faster than its sector

It grew 15.1% a year against a sector median of 13.1% — 2.1 percentage points faster.

Room to re-rate, or risk of de-rating

At 40.1× earnings it costs 1.7× the market, which pays 23.9× across 2199 companies we can price. Its own industry sits at 56.8×, across 5 companies. It is against its own five-year median of 38.0×, the 59th percentile of its own range.

Whether growth justifies the valuation

Priced at 3.3 times its growth rate, on earnings growth of 12%.

	Profit growth	Price per ₹1 profit	Per 1% growth
Narayana Hrudayalaya Ltd. — this one	12%/yr	40.1×	₹3.3
Apollo Hospitals	32%/yr	52.5×	₹1.6
MANIPALHOS	22%/yr	101.7×	₹4.6
Max Healthcare Institute	10%/yr	56.8×	₹5.7
Aster DM Healthcare Limited	-1%/yr	163.5×	—
Fortis Healthcare Limited	27%/yr	54.0×	₹2.0

Compared with companies filed under the same label. That grouping comes from the exchange's filing category, so some of them may not be real rivals.

How it compares with its peers

Against companies the exchange files under the same label (Hospital), it ranks 11 of 24 on returns, 16 of 23 on growth, 16 of 25 on margin. That grouping comes from the exchange's filing category, so some of them may not be real rivals.

What makes it hard to beat — and is that still true?

A narrow advantage: it earns 15.5% on capital, ahead of 54% of companies filed under the same label. That grouping comes from the exchange's filing category, so some of them may not be real rivals.

Whether its growth pays for itself

Yes — Over the last five years it made ₹5244 crore of cash from the business and spent ₹3688 crore on plant and equipment, with ₹1556 crore to spare; it still raised ₹3301 crore mostly borrowed — borrowings rose from ₹723 crore to ₹5858 crore. And the profit is real: of every 100 rupees it reported over 12 years, about 190 arrived as cash — well above the profit; depreciation and interest are the reason, not a windfall.

Profit reality check

Is the profit real cash? Simple checks on the accounts. Facts only, not advice.

8 of 9 checks clear · 89%

Latest result · Q1 FY27

What the last results showed. Whether management kept its word is in Pro.

Sales nearly doubled after the UK acquisition while profit rose 5%

Announced 31 Jul 2026 · Consolidated

Revenue

₹2,684 Cr

Revenue vs last year

+78.1%

Revenue vs last quarter

+3.5%

Net profit

₹207 Cr

Profit vs last year

+5.2%

Profit vs last quarter

-7.5%

Net margin

7.7%

EPS

₹10.20

Earnings call transcript · 3 Aug 2026

Checklist before you investPRO

Points for and against, in one list.

Key numbers & peers

The main numbers grouped by topic, and how the company compares with similar ones.

Price

Market cap: ₹34,584 Cr
Prev close: ₹1,695.30
52w High: ₹2,093
52w Low: ₹1,589
Enterprise value: ₹37,899 Cr
Beta: 0.8
Price CAGR 1y: -3.0%
Price CAGR 3y: 18.0%
Price CAGR 5y: 28.0%
Price CAGR 10y: 18.0%

Ratios

Return on assets: 6.5%
PEG ratio: 3.3
P/E ratio: 40.1
P/B ratio: 7.6
EV / EBITDA: 21.8
Industry P/E: 52.4
ROCE: 15.5%
ROCE 5y average: 24.0%
ROE: 20.6%
Debt / Equity: 1.3
Interest coverage: 4.6
Dividend yield: 0.3%
ROE 3y average: 25.0%
ROE last year: 21.0%

Annual P&L

Annual revenue: ₹7,896 Cr
Annual profit: ₹806 Cr
Operating margin: 21.0%
Net profit margin: 10.2%
EBITDA margin: 20.8%
Sales growth 3y: 20.4%
Sales growth 5y: 25.0%
Profit growth 3y: 12.0%
Profit growth 5y: 155.0%
EPS: ₹39.4
Sales growth TTM: 60.0%
Profit growth TTM: 9.0%
Dividend payout: 11.0%

Quarter P&L

Sales latest quarter: ₹2,684 Cr
Profit latest quarter: ₹207 Cr
YoY quarterly sales growth: 78.0%
YoY quarterly profit growth: 5.1%
OPM latest quarter: 17.4%

Balance Sheet

Book Value: ₹222
Face Value: ₹10.0
Total debt: ₹5,858 Cr
Total cash: ₹2,129 Cr
Borrowings: ₹5,858 Cr
Reserves / Equity: 21.2

Cash Flow

Operating cash flow: ₹1,621 Cr
Free cash flow: ₹753 Cr
FCF yield: 1.4%
Net cash flow: ₹313 Cr

Shareholding

Promoter holding: 63.3%
FII holding: 9.4%
DII holding: 9.1%
Public holding: 17.6%

Peer comparison

Company	Price ₹	P/E	Mkt cap ₹ Cr	Div yield %	Profit qtr ₹ Cr	Profit var %	Sales qtr ₹ Cr	Sales var %	ROCE %
Apollo Hospitals	7,704.75	52.6	1,10,782	0.25	610.4	34.2	7,043.5	20.6	17.4
Manipal Health	689.45	102.4	90,689	0.00	243.4	-7.9	3,090.6	38.1	12.1
Max Healthcare	876.40	57.0	85,301	0.22	323.0	4.9	2,366.2	16.7	14.7
Aster DM Quality	676.25	163.3	58,947	0.44	29.3	-46.1	1,310.7	21.6	11.6
Fortis Health.	769.65	54.5	58,105	0.13	272.8	3.4	2,545.0	17.5	13.4
Narayana Hrudaya	1,713.55	40.6	35,018	0.26	207.3	5.7	2,683.6	78.0	15.5
Global Health	1,284.25	60.3	34,530	0.04	157.3	-0.2	1,304.1	26.5	17.4
Median	397.98	48.0	5,689	0.02	30.2	19.9	399.4	22.3	14.7

Competes with: ABH Healthcare Limited, Apollo Hospitals, Artemis Medicare Services Limited, Aster DM Healthcare Limited, Dr Agarwals Eye Hospital Limited, Dr. Agarwal's Health Care Limited, Fortis Healthcare Limited, GPT Healthcare Limited, Global Health Limited, Gujarat Kidney And Super Speciality Limited, Healthcare Global Enterprises Limited, Indraprastha Medical Corporation Limited, Jupiter Life Line Hospitals Limited, K M C Speciality Hospitals (India) Limited, Kovai Medical Center & Hospital Limited, Krishna Institute of Medical Sciences Limited, Lotus Eye Hospital and Institute Limited, MANIPALHOS, Max Healthcare Institute, Park Medi World Limited, Rainbow Childrens Medicare Limited, Rays of Belief Limited, Shalby Limited, Yatharth Hospital & Trauma Care Services Limited

Quarterly results

Sales and profit for each of the last 13 quarters. Newest on the right. ₹ crore.

Consolidated · to 30 Jun 2026

Line item	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Sales	1,233	1,305	1,204	1,246	1,306	1,367	1,335	1,475	1,507	1,644	2,151	2,594	2,684
Expenses	963	997	925	955	1,004	1,058	1,027	1,118	1,171	1,243	1,786	2,086	2,216
Material Cost								0	0	0	0	0	0
Change in Inventories								-0.07	0.41	-0.74	-26	-18	-6.02
Purchases of Stock-in-Trade								305	305	323	407	525	520
Employee Cost								275	296	299	459	749	725
Other Expenses								537	569	620	943	828	975
Operating Profit	271	308	279	291	302	309	307	358	337	401	365	508	468
OPM %	22	24	23	23	23	23	23	24	22	24	17	20	17
Other Income	15	18	18	26	24	23	18	20	24	24	-29	25	35
Exceptional items (within Other Income)								-8.36	0	0	-51	-0.02	0
Interest	21	23	25	28	34	35	37	41	45	42	65	91	87
Depreciation	59	55	63	65	61	65	70	82	84	87	122	154	156
Profit before tax	206	248	209	225	231	232	219	254	232	296	149	288	260
Tax %	11	9	10	15	13	14	12	22	15	13	15	22	20
Net Profit	184	227	188	191	202	199	193	197	197	258	127	224	207
EPS in Rs	9	11	9.20	9.33	9.85	9.72	9.44	9.65	9.62	13	6.20	11	10
Diluted EPS in Rs								9.71	9.68	13	6.24	11	10

Profit & loss

Yearly sales, costs and profit for 12 years, plus the last 12 months (TTM). ₹ crore.

Consolidated · to 31 Mar 2026

Line item	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
Sales	1,364	1,614	1,878	2,281	2,861	3,128	2,583	3,701	4,525	4,890	5,483	7,896	9,072
Expenses	1,236	1,434	1,642	2,064	2,566	2,694	2,394	3,038	3,538	3,722	4,185	6,255	7,330
Material Cost											0	0
Change in Inventories											-4.53	-44
Purchases of Stock-in-Trade											1,141	1,560
Employee Cost											1,093	1,803
Other Expenses											1,977	2,960
Operating Profit	128	180	236	217	295	434	189	664	987	1,168	1,298	1,641	1,742
OPM %	9	11	13	10	10	14	7	18	22	24	24	21	19
Other Income	6	-19	7	18	16	7	21	26	59	73	80	37	56
Exceptional items (within Other Income)											-8.36	-51
Interest	45	33	28	55	81	94	82	76	84	112	163	266	285
Depreciation	68	76	80	100	137	186	184	183	210	241	278	448	520
Profit before tax	21	51	135	80	93	161	-56	430	752	888	937	965	993
Tax %	71	59	39	36	37	26	-75	20	19	11	16	16
Net Profit	-19	21	83	51	59	119	-14	342	607	790	791	806	817
EPS in Rs	-0.84	1.04	4.06	2.51	2.90	5.82	-0.70	17	30	39	39	39	40
Diluted EPS in Rs											39	40
Dividend Payout %	0	0	0	0	35	17	0	6	8	10	12	11

Compounded growth

Average yearly growth over different spans, as stored. A span can cross a demerger or an acquisition.

Compounded sales growth

10 years: 17%
5 years: 25%
3 years: 20%
TTM: 60%

Compounded profit growth

10 years: 42%
5 years: 155%
3 years: 12%
TTM: 9%

Stock price CAGR

10 years: 18%
5 years: 28%
3 years: 18%
1 year: -3%

Return on equity

10 years: 20%
5 years: 26%
3 years: 25%
Last year: 21%

Balance sheet

What the company owns and what it owes, at the end of each year. ₹ crore.

Consolidated

Line item	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	200	204	204	204	204	204	204	204	204	204	204	204
Reserves	568	672	759	831	877	932	916	1,284	1,927	2,679	3,422	4,333
Borrowings	362	258	217	802	813	952	826	723	884	1,627	2,428	5,858
Other Liabilities	241	424	468	692	746	813	833	931	1,155	1,123	1,216	2,088
Minority Interest											1.88	2.26
Total Liabilities	1,371	1,557	1,648	2,529	2,640	2,901	2,779	3,143	4,170	5,633	7,271	12,482
Fixed Assets	913	1,054	1,082	1,848	1,838	2,092	1,961	1,980	2,336	2,651	4,266	7,796
CWIP	20	14	53	35	56	12	20	67	259	514	86	292
Investments	52	87	96	9	17	86	120	132	252	844	1,084	573
Other Assets	385	402	417	637	729	711	678	964	1,323	1,624	1,835	3,822
Total Assets	1,371	1,557	1,648	2,529	2,640	2,901	2,779	3,143	4,170	5,633	7,265	12,474

Cash flows

Real money coming in and going out each year — from the business, from investments and from loans. ₹ crore.

Consolidated

Line item	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Cash from Operating Activity	77	174	219	182	279	443	304	485	1,085	1,067	986	1,621
Cash from Investing Activity	-223	-150	-146	-520	-162	-189	-113	-267	-1,176	-1,458	-1,325	-3,648
Cash from Financing Activity	140	18	-45	315	-27	-247	-194	-159	88	488	544	2,340
Net Cash Flow	-6	42	28	-22	89	7	-2	59	-4	97	205	313
Free Cash Flow	-15	86	85	-20	129	329	235	235	563	99	-93	752

Ratios

How fast customers pay, how long stock sits, and how well capital earns — year by year.

Consolidated

Line item	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Debtor Days	38	34	30	45	34	31	39	43	35	31	37	30
Inventory Days	56	48	45	56	48	35	32	30	31	44	40	42
Days Payable	146	152	173	200	177	177	221	180	224	214	185	248
Cash Conversion Cycle	-51	-70	-98	-100	-95	-111	-150	-108	-158	-138	-108	-176
Working Capital Days	-30	-12	-11	-10	-10	-22	-38	-16	-25	-30	-17	-19
ROCE %	7	9	14	9	9	14	2	25	32	26	21	16

Shareholding pattern

Who owns the company — founders (promoters), foreign funds, Indian funds and the public. In %.

Consolidated · to 30 Jun 2026

Line item	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Promoters	64	64	64	64	64	64	64	64	64	63	63	63
FIIs	12	12	11	10	9.69	9.45	9.66	10	10	11	9.98	9.40
DIIs	11	10	9.51	8.22	7.90	8.68	8.52	8.09	7.76	7.91	9.14	9.05
Government	0	0	0.01	0.01	0	0	0	0	0	0	0	0
Public	13	14	15	17	18	17	17	17	17	17	17	18
Others	0.62	0.62	0.62	0.62	0.62	0.62	0.62	0.62	0.62	0.62	0.62	0.62
No. of Shareholders	1,02,994	1,20,506	1,38,052	1,60,686	1,78,356	1,77,792	1,85,787	2,05,639	2,26,480	2,28,123	2,20,561	2,11,173

Price trend

The price as a Renko brick chart: small moves drop out so the bigger path stands out.

Change over 1 year -4.5% (₹1,774.40 → ₹1,695.30)Brick size ₹49.33 (fixed)Bricks 32

Price moved up one brickPrice moved down one brickLast close ₹1,695.30 on 8 Oct 2026

Every brick is the same size, about one typical day's move. A new brick needs a full brick's move; turning the other way needs two. Bricks show where the price went, not where it will go.

Open interestPRO

Where option traders are positioned on this stock.

Industry numbers

The numbers that matter most in this industry, from the company's own filings.

1 when an audit qualification is filed as repetitive

0.00flag

2026-03-31

the company's own unlisted debt securities in default at period end

0.00cr

2026-06-30

quarterly EBITDA x 4 / operational beds (calc)

31,43,577inr

2026-06-30

the company's own loans / revolving facilities in default at period end (standalone filing)

0.00cr

2026-06-30

net debt from the filed balance sheet at the newest year end: Borrowings − Cash Equivalents − Investments (Current); negative = net cash

3,315inr_cr

2026-03-31

net debt as the company states it (net cash negative)

1,967inr_cr

2026-06-30

operating beds

5,955count

2026-06-30

guarantees / comfort given for promoter, promoter group, directors and KMP

0.00cr

2026-03-31

loans outstanding to promoter, promoter group, directors and KMP (governance filing)

0.00cr

2026-03-31

security given for the borrowing of promoter, promoter group, directors and KMP

0.00cr

2026-03-31

FY revenue / permanent employees + workers, same basis (calc)

35,38,491inr

2026-03-31

News

News and filings about Narayana Hrudayalaya Ltd.. Open one to see why it matters.

No recent news for this company.

Supply chain

Who it buys from, sells to and competes with — as recorded in our map of company links.

Uses as raw material

diagnostic and radiology equipment
electricity and fuel (DG sets / backup power)
implants and medical equipment (procured via group/related-party procurement, incl. Samyat Healthcare)
medical consumables, drugs and surgical instruments
medical gases (oxygen, etc.)

Depends on the price of

fuel

Sells to

Government health schemes (Ayushman Bharat / state schemes) · in-patient and out-patient hospital / surgical services reimbursed under government health…
Private health insurers / TPAs (cashless and reimbursement claims) · hospital and surgical services billed to insurance payors

Buys from

Indiqube Spaces Limited · Managed workplace solutions & value-added services (healthcare-sector occupier)

About

What the company is, from our own records: where it sits, where it makes things, and what it is made of.

Sector: Healthcare
Industry: Hospital
Classification: Healthcare › Hospital
ISIN: INE410P01011

Business segments

Medical and healthcare related services · 95%
Others · 5%

Plants

Brahmananda Narayana Multispeciality Hospital · Jamshedpur, Jharkhand
Dharamshila Narayana Superspeciality Hospital
Health City Cayman Islands
MMI Narayana Multispeciality Hospital · Raipur, Chhattisgarh
Mazumdar Shaw Medical Centre
Narayana Institute of Cardiac Sciences
Narayana Superspeciality Hospital · Gurugram, Haryana
Rabindranath Tagore International Institute of Cardiac Sciences · Kolkata, West Bengal
SRCC Children's Hospital (managed by Narayana Health)

News impact

Big market events that reach Narayana Hrudayalaya Ltd., and how the effect spreads.

7 Aug, 04:28 IST · Market event · high impact

KKR to buy Medicover's India hospital business for $1.39 billion, its largest-ever India cheque

American investment firm KKR is paying about $1.39 billion for a Swedish group's Indian hospital chain — its biggest cheque in India — which sets a new, higher price tag for what an Indian hospital business is worth and makes listed chains like Apollo and Medanta look better valued.

Healthcare

Who it hits first

KKR is paying about $1.39 billion for a hospital business with roughly EUR 220 million of annual revenue, which sets a visible and high reference price for Indian hospital assets.
Medicover Hospitals India is not listed in India, so there is no direct Indian stock affected - the entire impact is a valuation read-across to listed chains.
The deal validates the scale of foreign private-equity appetite for Indian healthcare delivery, which supports the valuations listed chains already carry.

Who may gain

Apollo Hospitals and Global Health (Medanta) are the natural benchmarks investors will compare the deal price against.
Narayana Hrudayalaya is the least expensive of the large listed chains at PE 44.67 against a healthcare sector PE median of 39.85, versus Apollo at 68.96 and Max at 70.9.
KIMS runs the same regional south-India multi-speciality model as the asset being bought, making it the closest operational comparison - though at PE 163.33 the valuation offers no cushion.

Along the supply chain

Downstream

Health insurers are downstream: more privately-owned, profit-focused hospital capacity tends to push up treatment prices, which raises the claims insurers pay. Patients are the ultimate downstream party and face the same pricing pressure, which is also what invites eventual regulatory attention to hospital pricing.

Upstream

Medical device and consumable suppliers, and hospital construction and equipment financiers, sit upstream of every hospital chain. A large private-equity owner typically accelerates capacity addition, so more beds eventually means more orders for equipment and construction - but that is a 2027-and-beyond effect, well past this event's horizon.

Where demand moves

Business

Nothing changes in the hospitals' own operations - no patient, doctor or bed moves as a result of this deal. What changes is the price of hospital assets. A well-funded new owner raises the cost of the next acquisition for everyone else, which cuts BOTH ways: it makes the beds a chain already owns more valuable, and it makes the beds it still wants to buy more expensive. That two-sided effect is why Max Healthcare, the most acquisition-driven of the large chains, was downgraded to no directional view in the Layer 8 debate.

Capital

Money rotates into listed hospital shares as investors mark them against the transaction price, and the flow favours the chains that look cheapest on that comparison - Narayana Hrudayalaya - and those with the best returns - Medanta and Apollo. Capital avoids the chains where the read-across is offset by a company-specific problem, notably Aster DM, where 40.66% of promoter shares are pledged as loan collateral.

How it spreads across sectors

Healthcare

A record private-equity price for an Indian hospital chain re-anchors valuations across every listed hospital, with the caveat that it also raises the cost of the next acquisition for the acquisitive chains

When it plays out

Immediate

Listed hospital shares can open firmer as investors mark them against the deal price. Medanta already rose 2.4% and Apollo 0.7% on 6 August.

Medium term

The main risk is the fade pattern. Both prior hospital-sector rallies reversed within a month, and a new well-capitalised competitor eventually bids up doctors, land and acquisition targets for everyone else.

Short term

Watch whether any listed chain discloses that it had also bid, and whether the deal price implies a per-bed or profit multiple above or below where listed chains trade.

Dividends, splits & big trades

Money paid out, share splits and buybacks, and big buys or sells by funds and insiders.

Dividends

17 Jul 2026	unspecified	₹4.5
1 Aug 2025	unspecified	₹4.5
2 Aug 2024	unspecified	₹4
7 Jul 2023	unspecified	₹2.5
22 Aug 2022	unspecified	₹1
11 Mar 2020	interim	₹1
1 Aug 2019	unspecified	₹1

Splits, bonuses & buybacks

daily-prices repair: 9 rows from NSE's archive (replace 1, delete 1, insert 7), 2016-10-30..2026-02-01 (docs/flat_day_repair.md)1× · 30 Oct 2016

Documents

Annual reports, results presentations and earnings calls, straight from the source.

Facts from company filings and exchange data. Not investment advice: nothing here tells you to buy or sell.