Narayana Hrudayalaya Limited (NH) Earnings Call Transcripts

Narayana Hrudayalaya Limited's Latest Earnings Call - Q4 FY2026

In Q4 FY '26, Narayana Hrudayalaya Limited reported strong financial performance, with revenues of INR 1,200 crores, up 10.2% YoY, and an EBITDA margin of 20.1%, reflecting a 300 basis point dilution due to acquisition-related costs. Management maintained a cautious outlook on the insurance segment, indicating ongoing losses but potential for improvement with price increases and client optimization. The company signaled continued investment in clinics and technology to drive future growth, while also addressing challenges in the U.K. operations and competitive pressures in India.

Reported metrics

Guidance from management

Management maintained a cautious outlook for the insurance segment, indicating potential for improvement in the coming quarters but did not provide specific revenue or margin guidance for FY '27.

What management said

So there's a contact person subsidiary -- actually, this has been clarified in the annual report. It is a 100% subsidiary. What we can do, [ Sajal ], is that given that many of these are little fundamental. You can take a separate call with you from the IR team.

As you know, we don't give guidance on those. But a lot of the things we put in place that have brought us to this journey still have room for growth, and there's still a fair amount of work that we've put in place that we'll start to see. But of course, you have to balance that out against the new center losses that will start coming in from the mid to end of this financial year and going forward. So one would tempe...

What analysts pressed on

Analysts expressed concerns regarding the ongoing losses in the insurance segment and the impact of acquisition costs on overall profitability. There were also questions about the sustainability of margin improvements in the U.K. operations and the competitive landscape in India.

Main topics on the call

• Revenue Growth — Narayana reported revenues of INR 1,200 crores for Q4 FY '26, representing a 10.2% increase year-over-year. Management noted, 'We have seen healthy ARPOB growth over the past couple of years based on the efficiencies on ...
• EBITDA Margin Dilution — The EBITDA margin for the quarter was reported at 20.1%, down from previous levels due to acquisition costs. Management explained, 'Almost 200 bps dilution has come because of the costs relating to the acquisition itself...
• Insurance Segment Losses — The insurance business continued to incur losses, with management stating, 'We may have another quarter or another quarter or 2 of losses in this range.' However, they expect improvements from upcoming price increases.
• Expansion Plans — Narayana plans to double its clinic footprint in FY '27, emphasizing the importance of clinics as a patient access point. Management stated, 'The clinic business will be a very important part of our business going forwar...

Read the full Narayana Hrudayalaya Limited transcript (Q4 FY2026) → Summary generated from the call transcript; every figure above is stated by management on the record.

Earnings Call History

EarningsCalls.dev has 25 Narayana Hrudayalaya Limited earnings call transcripts on record, spanning March 19, 2020 to August 3, 2026. Based on this history, Narayana Hrudayalaya Limited reports quarterly. The most recent call on file is dated August 3, 2026. The full list is below — each row opens the complete, free-to-read transcript.

Ticker

NH

Exchange

NSEI

Country

IN

Sector

Health Care

Industry

Health Care Providers and Services

Calls on record

25

First call

March 19, 2020

Most recent

August 3, 2026

Reporting cadence

quarterly