Narayana Hrudayalaya Ltd. — Credit Ratings, 19-01-2026: Credit Rating- Revision

ICRA has reaffirmed Narayana Hrudayalaya's credit ratings at [ICRA]AA (Stable) for long-term and [ICRA]A1+ for short-term instruments. This reflects NHL's strong market position, diversified operations, healthy revenue growth (12.1% FY25, 15% H1 FY26 YoY), and robust operating margins (23.4% FY25, 23.5% H1 FY26). Despite increased debt for expansion and a UK acquisition, debt metrics are expected to remain healthy.