Narayana Hrudayalaya Ltd. — PPTs, 23-05-2025: Investor Presentation

1. Financial Highlights:

Narayana Health posted consolidated revenues of INR 1,475 Cr in Q4 FY25 and INR 5,483 Cr for FY25, up 10.6% and 11.2% year-on-year respectively. EBITDA reached INR 385 Cr (26.1% margin) in Q4 and INR 1,368 Cr (25.0% margin) for the full year. PAT stood at INR 196 Cr in Q4 and INR 790 Cr for FY25. The India hospital segment showed margin improvement to 21.5% in Q4 and 20.7% for FY25. Net debt was low at INR 53.3 Cr with a net debt-to-equity ratio of 0.15. ARPOB increased to INR 16.9k in Q4 and INR 15.9k for the year.

2. Strategic Initiatives & Growth Drivers:

Capex focused on greenfield projects adding ~1,135 beds by FY28-FY29 across Bangalore, Kolkata, Raipur, and leased spaces in Bangalore. FY25 capex spend was INR 514 Cr; FY26 target is INR 424 Cr. Digital transformation advances include AI-driven supply chain automation, 300K monthly active users on patient apps, and half of outpatient appointments booked digitally. Integrated Care expansions in Bangalore, Mysore, and Kolkata support scalable growth.

3. Business Developments:

The group performed over 1,200 robot-assisted surgeries in FY25 and completed 301 minimally invasive cardiac surgeries in Q4. The Mumbai children’s hospital completed 100 epilepsy surgeries rapidly. Radiation oncology patients in Raipur crossed 3,000 in Q4. Expansion plans target new facilities in Southeast Asia and the Middle East.

4. Market Position & Competitive Advantage:

Narayana Health benefits from a diversified revenue base with owned hospitals accounting for 73% and operated for 25%. Its strength lies in affordable, complex procedures across cardiac, oncology, and neuro sciences, supported by integrated digital platforms driving scale and efficiency. Low leverage and steady margin improvement demonstrate financial discipline.

5. Investor Implications:

Strong revenue growth, margin expansion, and controlled leverage point to positive growth potential. Key execution risks relate to on-time project delivery and international/digital expansions. The focus on innovative clinical procedures and capacity growth positions the company well for sustained value creation.