Narayana Hrudayalaya Ltd
Narayana Hrudayalaya Ltd is engaged in providing economical healthcare services. It has a network of multispecialty and super specialty hospitals spread across multiple locations.[1]
- Market Cap ₹ 35,071 Cr.
- Current Price ₹ 1,715
- High / Low ₹ 2,372 / 1,296
- Stock P/E 75.5
- Book Value ₹ 114
- Dividend Yield 0.26 %
- ROCE 19.4 %
- ROE 21.0 %
- Face Value ₹ 10.0
Pros
- Company has delivered good profit growth of 43.4% CAGR over last 5 years
- Company has been maintaining a healthy dividend payout of 19.9%
Cons
- Stock is trading at 15.1 times its book value
- Promoter holding has decreased over last quarter: -0.58%
- The company has delivered a poor sales growth of 9.90% over past five years.
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
Healthcare Healthcare Healthcare Services Hospital
Part of BSE 500 BSE Healthcare Nifty 500 Nifty Smallcap 100 Nifty Alpha 50
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1,076 | 1,308 | 1,470 | 1,646 | 1,848 | 2,077 | 2,239 | 1,655 | 2,412 | 2,965 | 3,266 | 3,590 | 3,746 | |
| 960 | 1,182 | 1,295 | 1,427 | 1,664 | 1,881 | 1,971 | 1,676 | 2,146 | 2,471 | 2,656 | 2,905 | 3,006 | |
| Operating Profit | 115 | 126 | 175 | 219 | 184 | 196 | 268 | -21 | 266 | 494 | 609 | 685 | 740 |
| OPM % | 11% | 10% | 12% | 13% | 10% | 9% | 12% | -1% | 11% | 17% | 19% | 19% | 20% |
| 25 | 10 | 2 | 14 | 16 | 17 | 19 | 71 | 104 | 95 | 120 | 139 | 149 | |
| Interest | 29 | 38 | 23 | 17 | 26 | 43 | 55 | 48 | 45 | 55 | 65 | 98 | 106 |
| Depreciation | 55 | 64 | 67 | 68 | 78 | 91 | 128 | 123 | 119 | 139 | 161 | 169 | 182 |
| Profit before tax | 56 | 34 | 86 | 147 | 95 | 79 | 104 | -121 | 206 | 395 | 503 | 557 | 601 |
| Tax % | 36% | 38% | 34% | 35% | 39% | 37% | 35% | -35% | 35% | 33% | 16% | 23% | |
| 36 | 21 | 57 | 95 | 58 | 50 | 68 | -79 | 134 | 266 | 425 | 431 | 464 | |
| EPS in Rs | 1,107.25 | 1.05 | 2.77 | 4.65 | 2.86 | 2.45 | 3.31 | -3.85 | 6.54 | 13.00 | 20.77 | 21.10 | 22.74 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 41% | 30% | 0% | 15% | 19% | 19% | 21% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | 11% |
| 5 Years: | 10% |
| 3 Years: | 14% |
| TTM: | 9% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | 35% |
| 5 Years: | 43% |
| 3 Years: | 46% |
| TTM: | 8% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | 18% |
| 5 Years: | 28% |
| 3 Years: | 33% |
| 1 Year: | 25% |
| Return on Equity | |
|---|---|
| 10 Years: | 12% |
| 5 Years: | 16% |
| 3 Years: | 22% |
| Last Year: | 21% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 0.33 | 200 | 204 | 204 | 204 | 204 | 204 | 204 | 204 | 204 | 204 | 204 | 204 |
| Reserves | 569 | 595 | 753 | 854 | 916 | 963 | 962 | 885 | 1,021 | 1,264 | 1,636 | 1,981 | 2,115 |
| 321 | 289 | 152 | 120 | 491 | 499 | 607 | 551 | 533 | 644 | 1,011 | 1,595 | 1,598 | |
| 237 | 216 | 274 | 309 | 383 | 410 | 449 | 462 | 528 | 664 | 645 | 722 | 785 | |
| Total Liabilities | 1,128 | 1,300 | 1,383 | 1,487 | 1,995 | 2,077 | 2,222 | 2,103 | 2,285 | 2,777 | 3,496 | 4,502 | 4,703 |
| 626 | 651 | 650 | 682 | 973 | 949 | 1,159 | 1,070 | 1,094 | 1,358 | 1,480 | 2,325 | 2,367 | |
| CWIP | 12 | 9 | 13 | 52 | 30 | 56 | 3 | 5 | 23 | 32 | 34 | 43 | 95 |
| Investments | 51 | 241 | 334 | 354 | 561 | 597 | 619 | 645 | 661 | 678 | 1,021 | 1,166 | 1,471 |
| 438 | 399 | 386 | 399 | 431 | 475 | 441 | 382 | 507 | 709 | 962 | 967 | 770 | |
| Total Assets | 1,128 | 1,300 | 1,383 | 1,487 | 1,995 | 2,077 | 2,222 | 2,103 | 2,285 | 2,777 | 3,496 | 4,502 | 4,703 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 164 | 61 | 177 | 218 | 196 | 208 | 286 | 123 | 246 | 516 | 542 | 523 | |
| -172 | -192 | -130 | -162 | -446 | -137 | -129 | -12 | -117 | -621 | -761 | -755 | |
| 5 | 127 | -2 | -32 | 226 | -11 | -170 | -114 | -57 | 65 | 237 | 391 | |
| Net Cash Flow | -3 | -4 | 46 | 25 | -24 | 61 | -12 | -3 | 72 | -40 | 19 | 159 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 45 | 40 | 34 | 31 | 37 | 28 | 24 | 34 | 26 | 22 | 21 | 25 |
| Inventory Days | 63 | 55 | 46 | 42 | 41 | 36 | 24 | 19 | 18 | 17 | 28 | 20 |
| Days Payable | 206 | 136 | 142 | 161 | 179 | 165 | 171 | 237 | 177 | 211 | 192 | 168 |
| Cash Conversion Cycle | -98 | -41 | -62 | -88 | -102 | -101 | -124 | -184 | -133 | -172 | -143 | -122 |
| Working Capital Days | -30 | -20 | -6 | -2 | -10 | -15 | -26 | -53 | -36 | -40 | -39 | -33 |
| ROCE % | 9% | 7% | 11% | 15% | 9% | 8% | 9% | -4% | 15% | 23% | 23% | 19% |
Documents
Announcements
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Board Meeting Intimation for Approval Of Un-Audited Standalone And Consolidated
Financial Results Of The Company For The Quarter Ended December 31, 2025
1h - Board meeting Feb 13, 2026 to consider unaudited Q3 results for quarter ended Dec 31, 2025.
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Voting Results And Scrutinizer S Report For The General Meeting Of The Equity Shareholders, Secured Creditors, Unsecured Loan Creditors And Unsecured Trade Creditors Of The Company Held On January 19, 2026, Convened Pursuant To The Order Dated December 2, 2025 Of The Hon Ble NCLT, Bengaluru
21 Jan - Jan 19, 2026: NCLT meetings approve merger scheme; equity 16,23,30,045, secured 4,61,20,00,000, trade 85,08,22,715
- Shareholder Meeting / Postal Ballot-Scrutinizer"s Report 21 Jan
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Summary Of Proceedings Of The General Meeting Of The Equity Shareholders, Secured Creditors, Unsecured Loan Creditors And Unsecured Trade Creditors Of The Co Held On Jan 19, 2026 Pursuant To The Order Dated Dec 2, 2025 By The Hon''ble NCLT, Bengaluru
19 Jan - Jan 19, 2026 meetings held to approve Meridian Medical Research amalgamation into Narayana; voting results due Jan 21, 2026.
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Shareholder Meeting / Postal Ballot-Outcome of Court Convened Meeting
19 Jan - Meetings held Jan 19, 2026 to approve amalgamation of Meridian Medical Research into Narayana; results due Jan 21, 2026.
Annual reports
Concalls
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Hospital Portfolio[1]
- India: 18 owned/operated hospitals, 2 heart centers, 20 clinics and dialysis centers. Jammu unit is removed and is considered as a part of discontinued operation effective FY25.
- Cayman Islands: 2 hospital.
** - Total:** 42 healthcare facilities with 5,554 operational beds (including Cayman).