Narayana Hrudayalaya Ltd. — Investor Meet, 02-06-2025: Analysts/Institutional Investor Meet/Con. Call Updates

Narayana Hrudayalaya reported stable revenue with margin gains in India hospitals due to a shift toward higher bed categories and better realizations, despite flat volumes. Cayman operations have stable revenue and near-peak margins, focusing now on volume growth. Integrated care plans INR 400 Cr investment with losses expected before breakeven in 18-24 months per clinic. Greenfield expansions, including 350 beds in Kolkata by FY28, proceed with strategic prioritization. Management emphasizes disciplined growth, digital investment, and operational efficiency. Tax rate expected at 15-16% for FY26. The outlook is confident on growth and margin improvement with cautious capex.