Want to see IN:NH full AI Analyst Report?
Top Page
Narayana Hrudayalaya Ltd.
(NH)
Select Model
Select Model
Rating:62Neutral
Price Target:
₹1,762.00
▲(0.32% Upside)
Action:Reiterated
Date:08/26/26
The score is driven primarily by strong financial momentum (accelerating revenue growth and improved cash generation), tempered by higher FY2026 leverage and historically volatile free cash flow. Technical indicators are neutral-to-soft, and valuation is a key headwind due to a high P/E and low dividend yield.
Positive Factors
Accelerating Revenue Growth
Revenue growth accelerated materially, indicating stronger patient-care activity and expanding demand across Narayana Health’s hospital network. Sustained top-line momentum can support operating leverage, fund capacity expansion, and reinforce the company’s position in tertiary and specialty healthcare over the next several quarters.
Negative Factors
Sharp Increase in Leverage
The sharp debt increase materially raises financial risk compared with prior years and reduces balance-sheet flexibility. Higher leverage can increase financing obligations and leave less room to absorb weaker operating conditions or fund additional expansion without relying more heavily on future cash generation.
Read all positive and negative factors
Positive Factors
Negative Factors
Accelerating Revenue Growth
Revenue growth accelerated materially, indicating stronger patient-care activity and expanding demand across Narayana Health’s hospital network. Sustained top-line momentum can support operating leverage, fund capacity expansion, and reinforce the company’s position in tertiary and specialty healthcare over the next several quarters.
Read all positive factors
Narayana Hrudayalaya Ltd. (NH) vs. iShares MSCI India ETF (INDA)
Market Cap
₹351.44B
Dividend Yield0.26%
Average Volume (3M)22.34K
Price to Earnings (P/E)42.9
Beta (1Y)0.99
Revenue Growth57.80%
EPS Growth4.07%
CountryIN
Employees11,234
SectorGeneral
Sector StrengthN/A
IndustryMedical - Care Facilities
Share Statistics
EPS (TTM)40.12
Shares Outstanding204,360,800
10 Day Avg. Volume25,692
30 Day Avg. Volume22,337
Financial Highlights & Ratios
PEG Ratio19.78
Price to Book (P/B)7.32
Price to Sales (P/S)4.21
P/FCF Ratio55.50
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)52.93
Revenue Forecast (FY)₹110.22B
Narayana Hrudayalaya Ltd. Business Overview & Revenue Model
Company Description
Narayana Hrudayalaya Limited, established in 2000 and headquartered in Bengaluru, India, operates as a prominent provider of medical and healthcare services. The company oversees and manages a diverse range of healthcare facilities, encompassing h...
How the Company Makes Money
NH primarily makes money by delivering healthcare services through its hospitals and clinics, with revenue largely driven by patient-care activities. Key revenue streams typically include: (1) Inpatient services: room/bed charges, nursing and hosp...
Narayana Hrudayalaya Ltd. Financial Statement Overview
Summary
Income Statement
82
Very Positive
Balance Sheet
58
Neutral
Cash Flow
71
Positive
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 90.72B | 78.96B | 54.83B | 48.90B | 45.30B | 37.01B |
| Gross Profit | 35.68B | 34.78B | 21.12B | 18.41B | 16.76B | 12.13B |
| EBITDA | 18.03B | 16.62B | 12.82B | 11.55B | 9.77B | 6.65B |
| Net Income | 8.16B | 8.06B | 7.90B | 7.89B | 6.06B | 3.42B |
Balance Sheet | ||||||
| Total Assets | 0.00 | 124.74B | 72.65B | 56.25B | 41.62B | 31.30B |
| Cash, Cash Equivalents and Short-Term Investments | 25.20B | 25.43B | 16.27B | 11.04B | 6.51B | 3.01B |
| Total Debt | 0.00 | 58.57B | 24.28B | 16.27B | 8.84B | 7.23B |
| Total Liabilities | -45.40B | 79.35B | 36.37B | 27.39B | 20.30B | 16.40B |
| Stockholders Equity | 45.40B | 45.37B | 36.26B | 28.84B | 21.31B | 14.89B |
Cash Flow | ||||||
| Free Cash Flow | 4.14B | 5.98B | -961.81M | 959.93M | 5.63B | 2.34B |
| Operating Cash Flow | 6.90B | 14.74B | 9.86B | 10.67B | 10.85B | 4.85B |
| Investing Cash Flow | -5.24B | -37.19B | -13.25B | -14.58B | -11.74B | -2.67B |
| Financing Cash Flow | -2.09B | 25.07B | 5.44B | 4.88B | 877.41M | -1.59B |
Narayana Hrudayalaya Ltd. Technical Analysis
Neutral
1756.45
Price Trends
1808.63
Negative
1874.92
Negative
1834.93
Negative
Market Momentum
-30.48
Negative
45.60
Neutral
75.45
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:NH, the sentiment is Neutral. The current price of 1756.45 is above the 20-day moving average (MA) of 1709.11, below the 50-day MA of 1808.63, and below the 200-day MA of 1834.93, indicating a neutral trend. The MACD of -30.48 indicates Negative momentum. The RSI at 45.60 is Neutral, neither overbought nor oversold. The STOCH value of 75.45 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for IN:NH.
Narayana Hrudayalaya Ltd. Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
70 Outperform | ₹341.22B | 61.37 | ― | 0.08% | 21.27% | 4.09% | |
64 Neutral | ₹595.70B | 110.40 | ― | 0.59% | 15.70% | -2.76% | |
62 Neutral | ₹351.44B | 42.88 | ― | 0.26% | 57.80% | 4.07% | |
60 Neutral | ₹581.17B | 55.34 | ― | 0.13% | 17.50% | 20.65% | |
59 Neutral | ₹1.21T | 58.13 | ― | 0.24% | 17.20% | 32.79% | |
55 Neutral | ₹837.05B | 57.45 | ― | 0.23% | 15.96% | 26.87% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
* General Sector Average
IN:NH
Narayana Hrudayalaya Ltd.
1,719.70
-62.04
-3.48%
IN:APOLLOHOSP
Apollo Hospitals Enterprise Limited
8,400.00
594.57
7.62%
IN:ASTERDM
Aster DM Healthcare Ltd.
683.40
4.80
0.71%
IN:FORTIS
Fortis Healthcare Ltd.
769.80
-259.46
-25.21%
IN:MAXHEALTH
Max Healthcare Institute Ltd
860.00
-284.47
-24.86%
IN:MEDANTA
Global Health Limited
1,269.05
-6.25
-0.49%
Narayana Hrudayalaya Ltd. Corporate Events
Narayana Hrudayalaya Shareholders Approve Fee Revision for Consultant Surgeon via Postal Ballot
Oct 5, 2026
Narayana Hrudayalaya Ltd. has announced the results of a postal ballot conducted through remote e-voting, held between September 5 and October 4, 2026, under the provisions of the Companies Act and SEBI listing regulations. Shareholders approved a...
Narayana Hrudayalaya Conducts 26th AGM via Virtual Platform in Line with SEBI, MCA Norms
Aug 14, 2026
Narayana Hrudayalaya Ltd. held its 26th Annual General Meeting on August 14, 2026, via video conferencing and other audio-visual means, in compliance with MCA and SEBI circulars and the Companies Act. The meeting was chaired by founder Dr. Devi Pr...
Narayana Health Publishes Q1 FY27 Unaudited Results in Newspapers
Aug 2, 2026
Narayana Hrudayalaya Ltd., operating as Narayana Health, is a listed Indian healthcare services group headquartered in Bengaluru that runs a wide network of hospitals and medical facilities. The company provides multi-specialty tertiary care and p...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.