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Narayana Hrudayalaya Ltd (NH)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 539551 NSE: NH Hospital & Healthcare Services | Mid Cap | Narayana Hrudayalay Share Price

₹1,970.05 21.15 (1.09%)

As on 05-Jun'26 16:59

Narayana Hrudayalaya Ltd (NH)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 539551 NSE: NH Hospital & Healthcare Services | Mid Cap | Narayana Hrudayalay Share Price

₹1,970.05 21.15 (1.09%)

As on 05-Jun'26 16:59

Key Metrics
Valuation Multiples
Market Cap
₹39,828 Cr.
Current Price
₹1,970.1
52-Week Low / High
₹1,564 / 2,372
TTM EPS
₹39.4
TTM Sales
₹7,896 Cr.
Book Value per Share
₹222
P/E Ratio
49.44
Higher than its 5-year historical median
Industry PE
87
Price to Book (P/B)
8.78
In line with its 5-year historical median
Price to Sales (P/S)
5.04
In line with its 5-year historical median
EV/EBITDA
24.79
Higher than its 5-year historical median
Dividend Yield
0.27%
Profitability Efficiency
Return on Equity (ROE)
24.27%
Outperforms industry median
Return on Capital Employed (ROCE)
21.62%
Outperforms industry median
Return on Assets (ROA)
12.07%
Operating Profit Margin
23.7%
Net Profit Margin
14.4%
Gross Profit Margin
22.3%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
Slowing versus 3-year growth rate
12.12%
Operating Profit Growth (1 Year)
Slowing versus 3-year growth rate
12.92%
Net Profit Growth (1 Year)
Slowing versus 3-year growth rate
0.49%
Asset Quality
Promoter Holding
63.27%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹4,333 Cr.
Equity
₹204.4 Cr.
Face Value
₹10
All Time Low / High
₹181.35 / 2371.60

Narayana Hrudayalaya stock performance

Key Ratios
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Check Before You Invest

Valuation

Somewhat Overvalued

Price Trend

Strong
Q.1 Is Narayana Hrudayalaya Ltd a good quality company?
Narayana Hrudayalaya Ltd is a good quality company, based on a consistently good multi-year financial track record.

This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.

We have analysed the performance of the company on the following:

  • How has it performed on generating Profits?

    By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.

  • How efficiently has it utilized Capital?

    By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.

  • How is it managing its Debt?

    By checking its Debt to Equity and Cash Flow from Operations.

How does Narayana Hrudayalaya Ltd performance compare with that of its Peers?
Q.1 Revenue growth of Narayana Hrudayalaya Ltd vs industry peers?
Narayana Hrudayalaya Ltd revenue CAGR is 11.88%, compared to the industry median CAGR of 15.55%, indicating slower growth and losing its market share.
Q.1 Promoter shareholding and pledge status of Narayana Hrudayalaya Ltd?
Promoters hold 63.27% of the Narayana Hrudayalaya Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Q.1 Stock return of Narayana Hrudayalaya Ltd over the last decade?
Over the last 9 year(s), the stock has delivered a CAGR of 19.4% based on the current price.

DeciZen - make an informed investing decision on Narayana Hrudayalay

Decision Maker
Consolidated basis

1. Right Stock

10 Year X-ray Pro
Long Term Prospect

2. Right Price

3. Right Time

#Likely Future 5 Year CAGR.

10 Year X-Ray :

Analysis of Financial Track Record (Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end)

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Narayana Hrudayalaya Ltd has performed well in majority of the past ten years indicating its past ten year financial track record is very good

Value Creation

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
ROCE % 7.5%14.1%8.9%9.3%13.6%1.5%26.8%33.9%27.6%21.6%-
Value Creation
Index
-0.50.0-0.3-0.30.0-0.91.01.51.50.9-

Growth Parameters

Sales 1,6141,8782,2812,8613,1282,5833,7014,5254,8905,4837,896
Sales YoY Gr.-16.4%21.4%25.4%9.3%-17.4%43.3%22.3%8.1%12.1%-
Adj EPS 1.54.22.62.85.8-0.51729.738.338.539.4
YoY Gr.-182.3%-37.6%8.9%106.7%-108.2%NA74.5%29.3%0.4%-
BVPS (₹) 42.746.75052.855.454.672.7104.3141.1177.4222
Adj Net
Profit
3084.852.957.7119-9.9347606784786806
Cash Flow from Ops. 1742191822794433044851,0851,067986-
Debt/CF from Ops. 1.514.42.91.621.10.71.42.3-

CAGR

9 Years 5 Years 3 Years 1 Years
Sales 14.6%11.9%14%12.1%
Adj EPS 43.7%45.9%31.3%0.4%
BVPS17.2%26.2%34.7%25.8%
Share Price 20.3% 31.9% 29.9% 12.4%

Key Financial Parameters

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
Return on
Equity %
3.69.25.35.510.7-0.926.633.531.324.219.7
Op. Profit
Mgn %
11.112.39.810.313.97.618.221.823.523.720.5
Net Profit
Mgn %
1.84.52.323.8-0.49.413.41614.410.2
Debt to
Equity
0.30.20.80.80.60.60.40.40.50.61
Working Cap
Days
8172797870796569838472
Cash Conv.
Cycle
4-4-3-3-9-14-13-17-23-1439

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Sales1,6141,8782,2812,8613,1282,5833,7014,5254,8905,483
Operating Expenses + 1,4371,6492,0612,5662,7012,3943,0383,5443,7454,190
Manufacturing Costs5346257769299888621,0801,2871,3481,478
Material Costs3874365576887456789091,0011,0301,136
Employee Cost 3343754666236746277688799821,093
Other Costs 182213263327294227280377384482
Operating Profit 1772292202954271896639801,1451,293
Operating Profit Margin (%) 11.0%12.2%9.6%10.3%13.6%7.3%17.9%21.7%23.4%23.6%
Other Income + 16231919282735659292
Exceptional Items -11-110-110000-8
Interest 3328558194827684112163
Depreciation 7680100137186184183210241278
Profit Before Tax 511358093161-56430752884936
Tax 3052293442-428814598146
Profit After Tax 21835159119-14342607786790
PAT Margin (%) 1.3%4.4%2.3%2.1%3.8%-0.6%9.2%13.4%16.1%14.4%
Adjusted EPS (₹)1.04.12.52.95.8-0.716.729.738.638.7
Dividend Payout Ratio (%)0%0%0%34.50%17.20%0%6%8.40%10.40%11.60%

Valuation of Narayana Hrudayalay - Consolidated

YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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Analyst's Notes

data not found
No data found!

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25

Equity and Liabilities

Shareholders Fund + 8739541,0221,0791,1331,1171,4852,1312,8843,626
Share Capital 204204204204204204204204204204
Reserves 6687498188749289121,2811,9262,6793,422
Debt +2321897347376295254446391,2201,977
Long Term Debt1881806967256195044326261,1951,966
Short Term Debt4593812112111132510
Minority Interest0000111112
Trade Payables161207305334362410449615604574
Others Liabilities 2902974664847657157547721,0241,180
Total Liabilities 1,5561,6472,5282,6332,8892,7683,1334,1575,7327,359

Fixed Assets

Net Fixed Assets +1,0551,0821,8481,8382,0921,9611,9802,3362,6514,266
Gross Block1,4171,5222,3852,5042,9432,9823,1553,6714,1375,930
Accumulated Depreciation3634405376668511,0221,1751,3341,4861,664
CWIP 1453355612206725951486
Investments 8796917861201322528441,084
Inventories5052848360485972110110
Trade Receivables152157279266262279437432422555
Cash Equivalents 243435101115132172380416647
Others Assets 175173238271262209285427775610
Total Assets 1,5561,6472,5282,6332,8892,7683,1334,1575,7327,359

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Cash Flow From Operating Activity + 1742191822794433044851,0851,067986
PBT 511358093161-56430752889937
Adjustment 136112162231295250274313285391
Changes in Working Capital 228-2785356-152105-15-215
Tax Paid -35-37-34-54-6654-67-86-91-127
Cash Flow From Investing Activity + -150-146-534-161-189-113-267-1,174-1,458-1,325
Capex -90-119-203-150-114-70-250-521-968-1,079
Net Investments -3-19-174-12-75-51-18-417-509-263
Others -57-9-1571181-2361816
Cash Flow From Financing Activity + 18-45315-27-247-194-15988488544
Net Proceeds from Shares 0000000000
Net Proceeds from Borrowing 49-534728-108-102-68208368294
Interest Paid -25-21-32-55-51-43-36-43-73-116
Dividend Paid 0000-4900-20-51-81
Others -6-2000-39-48-55-57244447
Net Cash Flow 4228-36908-259-297205

Financial Ratio

PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Ratios
ROE (%)2.549.095.25.6410.77-1.2726.333.5531.3524.27
ROCE (%)7.4514.098.949.3413.611.4626.8333.9227.5821.62
Asset Turnover Ratio1.11.171.091.111.130.911.251.240.990.84
PAT to CFO Conversion(x)8.292.643.574.733.72N/A1.421.791.361.25
Working Capital Days
Receivable Days33.303034.9034.8030.9038.2035.303531.9032.50
Inventory Days11.409.9010.9010.608.407.605.305.306.807.30
Payable Days140153.90167.80169.50170.20207.80172.50194215.90189.20

Management X-Ray

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Top 5 Mutual Funds Holding

Last Visited Stocks

Announcements

Narayana Hrudayalaya Ltd FAQs

The current trading price of Narayana Hrudayalay on 05-Jun-2026 16:59 is ₹1,970.1.

Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 04-Jun-2026 the market cap of Narayana Hrudayalay stood at ₹39,827.9 Cr

The latest P/E ratio of Narayana Hrudayalay as of 04-Jun-2026 is 79.16.

The latest P/B ratio of Narayana Hrudayalay as of 04-Jun-2026 is 15.33.

The 52-week high of Narayana Hrudayalay is ₹2,371.6 and the 52-week low is ₹1,564.3.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Narayana Hrudayalay is ₹3,975 ( Cr.) .

Past 10 year's financial track record analysis by Moneyworks4me indicates that Narayana Hrudayalaya Ltd is a good quality company.

The key valuation ratios of Narayana Hrudayalaya Ltd's currently when compared to its past seem to suggest it is in the Somewhat overvalued zone.

The Price Trend analysis by MoneyWorks4Me indicates it is Strong which suggest that the price of Narayana Hrudayalaya Ltd is likely to Rise in the short term. However, please check the rating on Quality and Valuation before investing

About Narayana Hrudayalaya Ltd

Narayana Hrudayalaya Limited was incorporated on July 19, 2000 under the Companies Act, 1956. The Company, headquartered in Bengaluru is engaged in providing economical healthcare services. The Company was rebranded as ‘Narayana Health’ in 2013. It has a network of multispecialty and superspeciality hospitals spread across multiple locations.

The company was founded by its Promoter Devi Prasad Shetty, who has over 30 years of medical experience, including as a cardiac surgeon. The company is headquartered in Bengaluru, India, and operates a national network of hospitals in India with a particularly strong presence in the southern state of Karnataka and eastern India, as well as an emerging presence in western and central India. The company’s ‘Narayana Health’ brand is strongly associated with its mission to deliver high quality and affordable healthcare services to the broader population by leveraging its economies of scale, skilled doctors, and an efficient business model.

Business area of the company

The company owns and operates certain hospitals and also enters into management agreements with hospitals under which the Company acquires the operating control of the hospitals.

Products and Services

  • Anaesthesia & Critical Care
  • Blood Bank
  • Bone Marrow Transplant
  • Breast Cancer
  • Cardiac Surgery - Adult
  • Cardiology - Adult
  • Clinical Nutrition & Dietetics
  • Cranio-Maxillo Facial Surgery
  • Dental Sciences
  • Dermatology and Cosmetology
  • Developmental Medicine
  • Diabetology
  • E.N.T
  • Electrophysiology
  • Emergency Medicine
  • Endocrinology
  • Family Medicine
  • Gastroenterology - Medical
  • Gastroenterology - Surgical
  • Gastrointestinal Oncology
  • General Surgery
  • Genetics
  • Geriatrics
  • Gynaecology - Oncology
  • Haemato Oncology
  • Haematology
  • Head & Neck Surgery - Oncology
  • Heart Transplant
  • Infectious Diseases
  • Integrative Oncology
  • Internal Medicine
  • Interventional Radiology
  • Kidney Transplant - Adult
  • Lab
  • Liver Transplant & HPB Surgery
  • Medical Oncology
  • Microbiology
  • Nephrology
  • Neurology
  • Neurosurgery
  • NICU & PICU
  • Nuclear Medicine
  • Obstetrics & Gynaecology
  • Oncology
  • Ophthalmology
  • Ortho - Oncology
  • Orthopaedics
  • Pain & Palliation - Oncology
  • Pathology
  • Physical Medicine and Rehabilitation
  • Physiotherapy & Rehabilitation
  • Plastic Surgery
  • Psychiatry & Clinical Psychology
  • Pulmonology
  • Radiation Oncology
  • Radiology
  • Reproductive Medicine
  • Rheumatology
  • Robotic Surgery
  • Speech And Swallow Rehabilitation
  • Spine Surgery
  • Surgical Oncology
  • Thoracic Surgery
  • Uro - Oncology
  • Urology
  • Vascular Surgery

Awards

2010:

  • Awarded as the Best Single Speciality Hospital - Cardiology at 'India Healthcare Awards 2010'

2011:

  • A proud recipient of the “India Shining Star CSR Award' for the exceptional CSR work in the health sector

2012:

  • FICCI Health Care Excellence Award
  • Frost and Sullivan India Healthcare Excellence Awards

2013:

  • Financial Times Arcelor Mittal Boldness in Business Awards
  • Inc. India Innovative 100 Award

2014:

  • Narayana health was recognised among world’s top 50 ‘BCG Local Dynamos 2014’ for its exceptional operational efforts.
  • Gold Award winner in Customer Service by Asian Hospital Management Awards
  • Winner of ABP News Brand Excellence Award 2014

2015:

  • Identified for its exceptional work in the department of cardiology, NICS has been named the Best Single Specialty Hospital in India, Cardiology in the CNBC TV 18 & ICICI Lombard India Healthcare Award 2015-16
  • Recognized for its technology enabled innovative primary healthcare services to people living in resource deprived locations in India, Narayana Health has been awarded Public Health Champion Award by WHO India under the category of Innovation
  • NH receives the Healthcare Leadership Awards by Stars of the Industry Group in 2 categories; Outstanding Achievement Awards Healthcare - Social Cause, Healthcare & Social Care Support Award

2016:

  • Health Brand of the Year - Healthcare - India Health & Wellness Awards
  • Quality beyond Accreditation for NH Jaipur at the Global Conclave of Association of Health Care Providers India (AHPI)

2017:

  • Narayana Health was recognized as one of the Best Asian Healthcare Brands by the Economic Times, for its immense contributions & unique initiatives to improve the healthcare industry.
  • Best Cardiac Science Institute of the Year
  • Narayana Superspeciality Hospital Howrah was recognized as the Best Superspeciality Hospital of the Year (Oncology) at the International Healthcare Awards 2017 - country's most authoritative Summit & Awards for the healthcare industry.

2018:

  • Narayana Health won the Silver in Reproductive and Sexual Health Category at India Health & Wellness Summit and Awards.
  • Narayana Health listed in Fortune India 500
  • CSR Excellence in Healthcare

Milestones

  • 2000: Commenced operations from NICS in Bengaluru
  • 2008: The company entered into an investment agreement with the investor Selling Shareholders for the purpose of subscription by the investor Selling Shareholders to 75,414 Equity Shares of Rs 10 each of the company (in the aggregate) for a purchase price of Rs 53,040.55 (approximately) per share, including share premium of Rs 53,030.55 (approximately) per share.
  • 2014: Acquired AHDL.
  • 2014: Acquired the Jubilant Kalpataru Hospital, Barasat, West Bengal.
  • 2014: The company entered into a securities subscription agreement with CDC Group and CDC IOL for subscription to its equity shares and OCDs aggregating to around Rs 300 crore.
  • 2015: Obtained JCI accreditation for HCCI's multispecialty hospital in Cayman Islands.
  • 2018: Narayana Health City Launches ‘Senior Citizen’s Privilege Card’
  • 2018: Narayana Superspeciality Hospital empaneled with CGHS & NHPC
  • 2019: Narayana Health Guwahati opens Day care dialysis center.
  • 2019: Narayana Multispeciality Hospital Launches A Comprehensive Weight Loss Clinic : 1st In Mysore
  • 2019-20: SRCC Children’s Hospital, Mumbai completed 1,000 paediatric cardiac surgeries since its inception strengthening facility’s position as a top-notch medical destination for paediatric treatment
  • 2019-20: Foundation stone laid for setting up a comprehensive Radiation Centre at Health City Cayman Islands
  • 2019-20: Company signed a 3-year contract to deploy and manage NH’s Proprietary Data Intelligence Platform - MEDHA for a PanIndia Hospital Group
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