| Revenue growth | Revenue +23.6% YoY to ₹585.2 Cr in H1 |
|---|---|
| Margins | H1 Adj EBITDA margin 23.0% (-165bps); Q2 22.7% (-443bps) |
| Demand visibility | Guests +9.6%, treatments +12.6%; dialysis is recurring 3x weekly |
| Management confidence | Confident of meeting guidance; expects healthy margins |
Growth
Q2 revenue ₹303.4 Cr (+23.5%); Q2 Adj EBITDA +3.3% YoY to ₹68.9 Cr. Treatments +12.6%, RPT +9.7%.
Outlook
Capex ₹102 Cr in H1 (40 India, 11 Philippines clinics); >₹500 Cr liquidity; Saudi MoH tender pending.
Risks
Q2 Adj EBITDA margin fell 443bps to 22.7%; new-market ramp-up dilutes margins; Saudi tender highly competitive.
Last quarter's promises, checked
Delivered
- Guided 15–20% medium-term growth (3–5 yrs) → H1 revenue +23.6% YoY (= BEAT)
- Guided new intl market every 12–18 mo → Kazakhstan entity set up in Q1; 2 clinics acquired in H1 (= BEAT)
Partly delivered
- Guided 40–50 India & 10–15 Philippines clinics/yr → 40 India, 11 Philippines in H1 (= PARTIAL; split from capex note, unverified)
- Guided Saudi benefits 3–4 quarters away → Riyadh clinic live, no tender award yet (= PARTIAL)
Missed
- Guided Saudi MoH tender 'expected to begin in a couple of months' → tender still pending (= MISS)
Investor Presentation filed with NSE, NSE: NEPHROPLUS. Summary written with AI assistance from the document.
Nephrocare Health Services Ltd: key numbers
- Share price
- ₹624.60
- Market cap
- ₹6,267 Cr
- Revenue (annual)
- ₹998.8 Cr
- Net profit (annual)
- ₹76.84 Cr
- P/E (TTM)
- 73.6×Sector 53.7×
- Promoter holding
- 58.31%-5.54% QoQ
- FII holding
- 11.73%Current quarter
Reference market data from a third-party provider, updated daily. Not a valuation or a recommendation.
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