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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

₹1,836.65 -13.25 (-0.72%)

As on 12-Aug'26 16:01

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

₹1,836.65 -13.25 (-0.72%)

As on 12-Aug'26 16:01

Key Metrics
Valuation Multiples
Market Cap
₹37,805 Cr.
Current Price
₹1,836.7
52-Week Low / High
₹1,564 / 2,094
TTM EPS
₹39.9
TTM Sales
₹9,072 Cr.
Book Value per Share
₹232.3
P/E Ratio
46.32
Higher than its 5-year historical median
Industry PE
103
Price to Book (P/B)
7.96
Lower than its 5-year historical median
Price to Sales (P/S)
4.17
Lower than its 5-year historical median
EV/EBITDA
21.78
In line with its 5-year historical median
Dividend Yield
0.25%
Profitability Efficiency
Return on Equity (ROE)
19.86%
Outperforms industry median
Return on Capital Employed (ROCE)
16.20%
Outperforms industry median
Return on Assets (ROA)
8.22%
Operating Profit Margin
21%
Net Profit Margin
10.26%
Gross Profit Margin
18.7%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
Improving versus 3-year growth rate
44.01%
Operating Profit Growth (1 Year)
Improving versus 3-year growth rate
26.71%
Net Profit Growth (1 Year)
Slowing versus 3-year growth rate
2.61%
Asset Quality
Promoter Holding
63.27%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹4,542 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

Fair

Price Trend

Weak
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 25.04%, compared to the industry median CAGR of 23.15%, indicating faster growth and gaining 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 19.7% 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'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26TTM
ROCE % 14.1%8.9%9.3%13.6%1.5%26.8%33.9%27.6%21.6%16.2%-
Value Creation
Index
0.0-0.3-0.30.0-0.91.01.51.50.90.4-

Growth Parameters

Sales 1,8782,2812,8613,1282,5833,7014,5254,8905,4837,8969,072
Sales YoY Gr.-21.4%25.4%9.3%-17.4%43.3%22.3%8.1%12.1%44%-
Adj EPS 4.22.62.85.8-0.51729.738.338.541.339.9
YoY Gr.--37.6%8.9%106.7%-108.2%NA74.5%29.3%0.4%7.3%-
BVPS (₹) 46.75052.855.454.672.7104.3141.1177.4222232.3
Adj Net
Profit
84.852.957.7119-9.9347606784786844816
Cash Flow from Ops. 2191822794433044851,0851,0679861,621-
Debt/CF from Ops. 14.42.91.621.10.71.42.33-

CAGR

9 Years 5 Years 3 Years 1 Years
Sales 17.3%25%20.4%44%
Adj EPS 29.1%NA11.7%7.3%
BVPS18.9%32.4%28.7%25.1%
Share Price 19.7% 29.5% 23% 1.4%

Key Financial Parameters

Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26TTM
Return on
Equity %
9.25.35.510.7-0.926.633.531.324.220.717.6
Op. Profit
Mgn %
12.39.810.313.97.618.221.823.523.72119.3
Net Profit
Mgn %
4.52.323.8-0.49.413.41614.410.79
Debt to
Equity
0.20.80.80.60.60.40.40.50.61.1-
Working Cap
Days
7279787079656983816572
Cash Conv.
Cycle
-4-3-3-9-14-13-17-23-14-1439

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!

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 (%)

Financials

PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Sales1,8782,2812,8613,1282,5833,7014,5254,8905,4837,896
Operating Expenses + 1,6492,0612,5662,7012,3943,0383,5443,7454,1906,257
Manufacturing Costs6257769299888621,0801,2871,3481,4781,860
Material Costs4365576887456789091,0011,0301,1361,516
Employee Cost 3754666236746277688799821,0931,803
Other Costs 2132633272942272803773844821,078
Operating Profit 2292202954271896639801,1451,2931,639
Operating Profit Margin (%) 12.2%9.6%10.3%13.6%7.3%17.9%21.7%23.4%23.6%20.8%
Other Income + 231919282735659292100
Exceptional Items -110-110000-8-51
Interest 28558194827684112163266
Depreciation 80100137186184183210241278448
Profit Before Tax 1358093161-56430752884936969
Tax 52293442-428814598146158
Profit After Tax 835159119-14342607786790810
PAT Margin (%) 4.4%2.3%2.1%3.8%-0.6%9.2%13.4%16.1%14.4%10.3%
Adjusted EPS (₹)4.12.52.95.8-0.716.729.738.638.739.4
Dividend Payout Ratio (%)0%0%34.50%17.20%0%6%8.40%10.40%11.60%11.40%
PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26

Equity and Liabilities

Shareholders Fund + 9541,0221,0791,1331,1171,4852,1312,8843,6264,537
Share Capital 204204204204204204204204204204
Reserves 7498188749289121,2811,9262,6793,4224,333
Debt +1897347376295254446391,2201,9774,677
Long Term Debt1806967256195044326261,1951,9664,667
Short Term Debt938121121111325109
Minority Interest0001111122
Trade Payables2073053343624104496156045741,032
Others Liabilities 2974664847657157547721,0241,0782,215
Total Liabilities 1,6472,5282,6332,8892,7683,1334,1575,7327,25712,463

Fixed Assets

Net Fixed Assets +1,0821,8481,8382,0921,9611,9802,3362,6514,2667,796
Gross Block1,5222,3852,5042,9432,9823,1553,6714,1375,9309,812
Accumulated Depreciation4405376668511,0221,1751,3341,4861,6642,017
CWIP 53355612206725951486292
Investments 96917861201322528441,084573
Inventories52848360485972110110155
Trade Receivables157279266262279437432422555656
Cash Equivalents 34351011151321723804166472,129
Others Assets 173238271262209285427775509863
Total Assets 1,6472,5282,6332,8892,7683,1334,1575,7327,25712,463
PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Cash Flow From Operating Activity + 2191822794433044851,0851,0679861,621
PBT 1358093161-56430752889937965
Adjustment 112162231295250274313285391608
Changes in Working Capital 8-2785356-152105-15-215205
Tax Paid -37-34-54-6654-67-86-91-127-157
Cash Flow From Investing Activity + -146-534-161-189-113-267-1,174-1,458-1,325-3,700
Capex -119-203-150-114-70-250-521-968-1,079-869
Net Investments -19-174-12-75-51-18-417-509-263-2,821
Others -9-1571181-2361816-11
Cash Flow From Financing Activity + -45315-27-247-194-159884885442,340
Net Proceeds from Shares 0000000000
Net Proceeds from Borrowing -534728-108-102-682083682942,726
Interest Paid -21-32-55-51-43-36-43-73-116-167
Dividend Paid 000-4900-20-51-81-91
Others -2000-39-48-55-57244447-128
Net Cash Flow 28-36908-259-297205262
PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Ratios
ROE (%)9.095.25.6410.77-1.2726.333.5531.3524.2719.86
ROCE (%)14.098.949.3413.611.4626.8333.9227.5821.6216.2
Asset Turnover Ratio1.171.091.111.130.911.251.240.990.840.8
PAT to CFO Conversion(x)2.643.574.733.72N/A1.421.791.361.252
Working Capital Days
Receivable Days3034.9034.8030.9038.2035.303531.9032.5028
Inventory Days9.9010.9010.608.407.605.305.306.807.306.10
Payable Days153.90167.80169.50170.20207.80172.50194215.90189.20193.40

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Narayana Hrudayalaya Ltd FAQs

The current trading price of Narayana Hrudayalay. on 12-Aug-2026 16:01 is ₹1,836.7.

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 11-Aug-2026 the market cap of Narayana Hrudayalay. stood at ₹37,804.7 Cr

The latest P/E ratio of Narayana Hrudayalay. as of 11-Aug-2026 is 68.29.

The latest P/B ratio of Narayana Hrudayalay. as of 11-Aug-2026 is 13.82.

The 52-week high of Narayana Hrudayalay. is ₹2,094.3 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 ₹4,129 ( 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 Fair zone.

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

About Narayana Hrudayalaya Ltd

Narayana Hrudayalaya was incorporated on July 19, 2000 under the Companies Act, 1956. The Company, headquartered in Bengaluru, is engaged in providing economical healthcare services. It has a network of multispecialty and super-speciality 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

2021-22:

  • Narayana Institute of Cardiac Sciences, Bengaluru won the Green Hospital award from Association of Healthcare Providers.

2022-23:

  • Excellence in Cardiology Award 2022 for the Multispeciality Hospital of Rajasthan for Excellence in Cardiac Surgery by The Times of India at Rajasthan Health Icons 2022
  • Awarded the Healthcare Summit and Doctors Award for the best Multispecialty Hospital in Rajasthan at Rajasthan Healthcare Summit.
  • Excellence in Community Engagement awarded to MMI Narayana Super Speciality Hospital, Raipur.
  • Excellence in Community Engagement awarded to Dharamshila Narayana Super Speciality Hospital, Delhi.
  • Best Hospital to Work For awarded to Shri Mata Vaishno Devi Narayana Super Speciality Hospital, Katra, Jammu & Kashmir.
  • Team Nursing at Narayana Multispeciality Hospital, Jessore Road, Kolkata received appreciation for Nursing Excellence from the Confederation of Indian Industry (CII) in Kolkata.
  • Devraj Mukherjee of RN Tagore Hospital received the ET Inspiring Leaders Awards from the British Deputy High Commissioner, Nick Low (Feb’22).
  • AHPI Green Initiative Award for NICS 2022.

2023-24:

  • Recognized as “Best Multi-Speciality Hospital of the year 2023” by the jury of Dr. APJ Kalam and Dr. Shyama Prasad Mukherjee Awards at Vigyan Bhawan June 23, 2023
  • Recognized amongst the “Best MultiSpeciality Hospitals in Delhi” of the year 2023 by Outlook Health Best Hospital Ranking 2023
  • Awarded “Excellence in Cancer Care Award” by 11th Elets Healthcare Innovation Summit & Awards, New Delhi
  • Received the prestigious “Excellence in Operations” award by AHPI (Association of Healthcare Providers India)
  • Narayana Hospital Jaipur was adjudged the best Multi-Speciality hospital in Jaipur by Outlook Health 2023
  • Shri Mata Vaishno Devi Narayana Superspecialty Hospital Katra received the NABH-ER Excellence and CAHO Environmental Sustainability awards in 2023
  • Narayana Hospital - Bafna Guwahati felicitated for Special contribution to Assam & North-East Healthcare 2023 and Excellence in Patient Safety 2023 in the Northeast Healthcare Excellence Summit 2023
  • Brahmananda Narayana Hospital Jamshedpur was awarded: 9th IHW awards 2024 for Excellence in Patient Safety & Centricity; Nursing Excellence accreditation from NABH; Received Best Hospital in the city awards by The Avenue Mail 
  • MMI Narayana Hospital Raipur received its Nursing Excellence Accreditation in the fiscal year 2024

2024-25:

  • Narayana Group of Hospitals ranked in over 50 titles by Outlook & NEB Research
  • Narayana Institute of Cardiac Sciences, Narayana Health City named Best Specialized Hospital in Asia Pacific 2024 by Newsweek and Statista.
  • Narayana Health recognised among India’s Best Healthcare Brands by ET Edge.
  • AHPI awarded Narayana Health with Excellence in Operations.
  • Dharamshila Narayana Hospital Delhi won the Healthcare Changemakers Award 2024.
  • Golden AIM Conference honoured Narayana Health City as Best BMT Unit and Dr. Sunil Bhat as Most Trusted Paediatric Haematologist & BMT Specialist.
  • Narayana Health received Gold certification from ICAI Sustainability Reporting Board.
  • SAP ACE Awards recognised Narayana Health for Best Human Experience Management (Disruptor category).

2025-26:

  • Recognized as IGBC Green Crusader at Green Karnataka Summit 2026
  • IGBC Green Crusaders recognition at Green Karnataka Summit 2026

Milestones

  • 2000: Narayana Health’s journey begins as Narayana Hrudayalaya started by Dr. Devi Prasad Shetty
  • 2000: 1st hospital launched in Kolkata - Rabindranath Tagore International Institute of Cardiac Sciences and 2nd in Bengaluru – Narayana Health City
  • 2008: Launch of new hospitals in Jamshedpur & Jaipur & its First Heart Centre in Dharwad
  • 2009: Launch of the Multi-speciality hospital - Mazumdar Shaw Medical Centre (MSMC) in Narayana Health City, Bangalore
  • 2010: Its 2nd hospital launched in Kolkata - Rabindranath Tagore International Institute of Cardiac Sciences (RTIICS)
  • 2014: Acquires hospital in Barasat and Westbank Hospitals and Westbank Health & Wellness Institute, Howrah
  • 2014: Its first international hospital – Health City Cayman Islands begins operations
  • 2014: Its 2nd Hospitals started in Bengaluru and new hospitals launched in Raipur, Ahmedabad, Mysore, Shimoga, Durgapur & Guwahati
  • 2016: Narayana Health gets listed in Bombay Stock Exchange
  • 2017: Launched its first Paediatric hospital in Mumbai with SRCC Children Trust
  • 2018: Partnership with Dharamshila Cancer Foundation and Research to provide healthcare services in Delhi initiated
  • 2019: Started operations in Gurugram with its world-class medical Facility in DLF
  • 2020: Launched NH Care - Narayana Health App & introduced virtual consultation platform
  • 2022: Acquired Sparsha Hospital, Bommasandra and launched world class orthopaedic centre in Narayana Health City, Bengaluru
  • 2023: Sets a Guinness World Record for conducting highest number of ECGs in a single day at a single venue
  • 2023: Narayana Health – Laboratory Services gets the prestigious CAP accreditation, becoming the first hospital in South India and the fourth in India to achieve this distinction.
  • 2023: Narayana Health gets International JCI Enterprise Accreditation becoming first hospital group in the country to achieve this milestone
  • 2024: Narayana Health Insurance launched its first product ‘Aditi’ on 16th June 2024.
  • 2024-25: Narayana Hospital Howrah operationalized 3 new operation theatres and a pneumatic chute system across 13 stations.
  • 2024-25: Narayana Health City has been accredited as an ‘Advanced Stroke Ready Hospital’ by QAI.
  • 2025-26: Entered into strategic partnership with Everhope Cancer Centres.

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