Narayana Hrudayalaya Ltd.
NSE: NH · Hospital · sector
₹1,662.30NSE close 2026-10-26
Key numbers
Market cap₹33,971 cr
Price₹1,662.30
52w high / low₹2,093 / ₹1,589
P/E41.4xSector median 42.5x
P/B7.5xSector median 4.9x
Book value₹222.0
Dividend yield0.26%Sector median 0.17%
ROE20.0%Sector median 12.1%
ROCE13.7%Sector median 13.8%
OPM18.7%Sector median 20.3%
Debt / equity1.07xSector median 0.24x
EV/EBITDA21.4xSector median 23.6x
Interest cover4.5x
Current ratio2.15x
Sales growth 3y+20.4%Sector median +14.1%
Profit growth 3y+9.9%Sector median +14.7%
PEG4.16x
Last 12 months to Jun 2026, Consolidated. "Sector median" = middle value of 32 companies in Hospital (P/E median leaves out loss-making companies). Tap ? for what a number means.
Things to know
- Cash ₹2,543 cr vs borrowings ₹4,866 cr (FY26): borrowings are higher by ₹2,323 cr.
- Borrowings rose in each of the last 3 years (₹762 cr → ₹4,866 cr).
- Operating profit covered interest 4.5x in the last 12 months.
- Promoter holding fell by 0.58 percentage points in a year, to 63.27% (2026-09-30).
- Operating cash flow was below net profit in 0 of the last 5 years.
- Revenue was higher than a year earlier in 4 of the last 4 quarters.
- Other income was 14% of net profit in the last 12 months.
- Dividend paid in 4 of the last 5 financial years.
- Price ₹1,662.30 on 2026-10-26: -20.6% from the 52-week high, +4.6% from the 52-week low.
Plain facts from the filings, built by the same fixed rules for every company. A line appears only when the data for it is available. Not a view on the stock.
Charts
Weekly close · high ₹2,094.00 · low ₹1,195.50
RevenueNet profit
RevenueNet profit
Quarterly results
| ₹ cr | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1,400 | 1,367 | 1,475 | 1,507 | 1,644 | 2,151 | 2,594 | 2,684 |
| EBITDA | 308 | 307 | 349 | 337 | 402 | 316 | 510 | 470 |
| OPM % | 22.0% | 22.5% | 23.7% | 22.4% | 24.5% | 14.7% | 19.7% | 17.5% |
| Other income | 24 | 18 | 27 | 24 | 24 | 23 | 29 | 35 |
| Net profit | 199 | 193 | 197 | 197 | 258 | 127 | 224 | 207 |
| EPS (₹) | 9.78 | 9.50 | 9.71 | 9.68 | 12.72 | 6.24 | 11.02 | 10.20 |
| Revenue YoY | +17.4% | +57.4% | +75.8% | +78.0% | ||||
| Profit YoY | +30.1% | -34.3% | +13.5% | +5.4% |
Consolidated figures where filed. Latest quarter Jun 2026.
Profit & loss (yearly)
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 | TTM |
|---|---|---|---|---|---|---|
| Revenue | 3,701 | 4,525 | 5,018 | 5,483 | 7,896 | 9,072 |
| EBITDA | 645 | 966 | 1,152 | 1,268 | 1,566 | 1,698 |
| Net profit | 342 | 606 | 789 | 790 | 806 | 816 |
| EPS (₹) | 16.85 | 29.85 | 38.86 | 38.90 | 39.67 | 40.18 |
| Revenue growth | +22.2% | +10.9% | +9.3% | +44.0% | +57.8% | |
| Profit growth | +77.3% | +30.2% | +0.1% | +2.0% | +3.9% | |
| Dividend / share (₹) | – | 1.00 | 2.50 | 4.00 | 4.50 |
| Compounded growth | 3 years | 5 years | Last 12 months |
|---|---|---|---|
| Sales | +20.4% | +25.0% | +57.8% |
| Net profit | +9.9% | – | +3.9% |
| EPS | +9.9% | – | – |
| Share price | – | +16.3% (2y) | -3.1% |
Balance sheet
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Shareholders' equity | – | 2,131 | 2,884 | 3,626 | 4,537 |
| Borrowings | – | 762 | 1,444 | 2,213 | 4,866 |
| Cash & equivalents | – | 631 | 1,256 | 1,627 | 2,543 |
| Total assets | – | 4,162 | 5,625 | 7,265 | 12,474 |
| Fixed assets | – | 1,923 | 2,198 | 3,814 | 4,527 |
| Capital work in progress | – | 259 | 514 | 70 | 267 |
| Investments | – | 1 | 4 | 104 | 132 |
| Receivables | – | 432 | 422 | 555 | 656 |
| Inventory | – | 72 | 110 | 110 | 155 |
| Payables | – | 615 | 604 | 574 | 1,032 |
Year-end figures from the March annual filing.
Cash flow
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Cash from operations | 485 | 1,085 | 1,067 | 990 | 1,618 |
| Cash from investing | -267 | -1,174 | -1,458 | -1,317 | -3,653 |
| Cash from financing | -159 | 88 | 488 | 532 | 2,343 |
| Capex | 251 | 522 | 971 | 1,074 | 875 |
| Free cash flow | 234 | 563 | 96 | -84 | 744 |
Free cash flow = cash from operations − capex.
Ratios by year
| ₹ cr | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| ROE % | – | 28.4% | 27.4% | 21.8% | 17.8% |
| ROCE % | – | 28.4% | 22.8% | 18.5% | 13.0% |
| Debtor days | – | 35 | 31 | 37 | 30 |
| Inventory days | – | 26 | 37 | 35 | 37 |
| Payable days | – | 224 | 205 | 185 | 248 |
| Cash conversion cycle (days) | – | -163 | -137 | -113 | -181 |
| Working capital days | – | 25 | 61 | 90 | 97 |
Shareholding
| Holder | % (2026-09-30) |
|---|---|
| Promoters | 63.27% |
| FIIs | 9.01% |
| DIIs | 10.68% |
| of which Mutual funds | 8.64% |
| of which Insurance | 1.02% |
| Public (non-institutions) | 16.42% |
| Quarter | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | Sep 2026 |
|---|---|---|---|---|---|---|---|---|
| Promoters % | 63.85% | 63.85% | 63.85% | 63.85% | 63.27% | 63.27% | 63.27% | 63.27% |
| Promoter group | % |
|---|---|
| Shakuntala Shetty | 34.80% |
| Devi Prasad Shetty | 11.66% |
| Viren Prasad Shetty | 5.00% |
| Varun Shetty | 5.00% |
| Anesh Shetty | 5.00% |
| Narayana Health Academy PVT Ltd | 1.81% |
| Ameya Shetty | 0.00% |
| Kateel Software Private Limited | 0.00% |
| Amaryllis Healthcare Private Limited | 0.00% |
| Hrudayalaya Pharmacy | 0.00% |
| Charmakki Infrastructures | 0.00% |
| Lakshmi Enterprises | 0.00% |
| Amaryllis | 0.00% |
| Shankaranarayana Investments | 0.00% |
| Public holders above 1% | % |
|---|---|
| Mirae Asset Large & Midcap Fund | 4.54% |
| Kiran Mazumdar Shaw | 2.30% |
| Renuka Mukesh Jagtiani | 1.29% |
| Parag Parikh Flexi CAP Fund | 1.03% |
1,98,623 shareholders. Pledged: – of promoter shares.
Peers in Hospital
| Company | Market cap | P/E | P/B | ROE | ROCE | OPM | Sales 3y | Div yield |
|---|---|---|---|---|---|---|---|---|
| APOLLOHOSP | ₹1,12,797 cr | 54.0x | 11.9x | 23.6% | 21.8% | 15.1% | +14.9% | 0.26% |
| MAXHEALTH | ₹81,266 cr | 55.7x | 7.6x | 14.5% | 13.8% | 26.1% | +22.4% | 0.18% |
| MANIPALHOS | ₹73,581 cr | – | – | – | – | – | – | – |
| FORTIS | ₹55,467 cr | 52.9x | 5.6x | 11.1% | 13.2% | 22.2% | +13.2% | 0.14% |
| NH | ₹33,971 cr | 41.4x | 7.5x | 20.0% | 13.7% | 18.7% | +20.4% | 0.26% |
| ASTERDM | ₹33,523 cr | 104.7x | 7.3x | 8.0% | 12.8% | 16.7% | -27.0% | 0.16% |
| MEDANTA | ₹32,575 cr | 58.5x | 8.2x | 15.1% | 15.8% | 20.5% | +17.9% | 0.04% |
| KIMS | ₹28,123 cr | 131.3x | 12.5x | 9.3% | 9.6% | 19.5% | +21.1% | 0.74% |
| AGARWALEYE | ₹15,065 cr | 101.3x | 7.4x | 7.6% | 16.5% | 27.8% | – | 0.01% |
| RAINBOW | ₹11,802 cr | 41.3x | 7.2x | 18.3% | 27.4% | 31.5% | +13.2% | 0.26% |
Business segments (FY26)
| Segment | Revenue | Share | EBIT | Margin |
|---|---|---|---|---|
| Medical and healthcare related services | ₹7,689 cr | 94.1% | ₹1,239 cr | 16.1% |
| Others | ₹386 cr | 4.7% | ₹-124 cr | -32.2% |
| Unallocated | ₹101 cr | 1.2% | ₹101 cr | 100.0% |
Dividends & corporate actions
| Ex-date | Action | Detail |
|---|---|---|
| 2026-07-17 | Dividend | Dividend - Rs 4.50 Per Share |
| 2025-08-01 | Dividend | Dividend - Rs 4.50 Per Share |
| 2024-08-02 | Dividend | Dividend - Rs 4 Per Share |
| 2023-07-07 | Dividend | Dividend - Rs 2.50 Per Share |
| 2022-08-22 | Dividend | Dividend - Rs 1 Per Share |
| 2020-03-11 | Dividend | Interim Dividend - Re 1 Per Share |
| 2019-08-01 | Dividend | Dividend - Re 1 Per Share |
Documents
- Annual report FY26
- Annual report FY25
- Annual report FY24
- Annual report FY23
- Annual report FY22
- Announcements NSE filings
- BRSR FY26
- Latest results (data file) XBRL
- Announcements BSE filings
Links go to the original files on the exchange website.
About the company
- Hospital and Medical Care (Health Care Services): Hospital Care Services through Hospitals & Clinics activities
- Sale of Medical Consumables & Drugs: Retail Sale of Pharmaceutical and Medical Goods
- Export of Medical Consumables & Drugs: Export of Medical Consumables & Drugs
| Sector | Healthcare |
| Industry | Hospital |
| Sub-industry | Hospital |
| Symbol | NH |
| BSE code | 539551 |
| ISIN | INE410P01011 |
| Face value | ₹10.0 |
| Incorporated | 2000-07-19 |
| Website | www.narayanahealth.org |
| Plants (India / abroad) | 40 / 15 |
From the company's filings (BRSR FY26).
Data built 2026-10-22 from NSE company filings (XBRL: Integrated Filing - Financials + financial results), NSE shareholding & pledge data; price = NSE close 2026-10-26.