Apollo Hospitals Enterprise Ltd (APOLLOHOSP)
🎯 Key Takeaways
- Apollo Hospitals is in a high-growth phase driven by strategic expansion into Tier 2/3 cities, digital health scaling, and robotic surgery adoption, supported by strong financial momentum and a clear roadmap toward becoming a pan-India integrated healthcare platform. Management is executing a demerger and merger strategy to unlock value in pharmacy and digital segments while maintaining capital discipline.
- Revenue grew 6.6% QoQ to ₹7,044 in Q1FY27.
- ⚠️ Margin pressure from ongoing digital investments, restructuring costs, and labor law changes increasing gratuity liabilities by ₹192 million.
📖 The Story
Apollo Hospitals is in a high-growth phase driven by strategic expansion into Tier 2/3 cities, digital health scaling, and robotic surgery adoption, supported by strong financial momentum and a clear roadmap toward becoming a pan-India integrated healthcare platform. Management is executing a demerger and merger strategy to unlock value in pharmacy and digital segments while maintaining capital discipline.
📰 What's Happening
In Q1 FY27, Apollo Hospitals reported consolidated revenue of ₹70,435 million, up 21% YoY, with PAT rising 34% to ₹5,805 million and EBITDA growing 28% to ₹10,920 million, reflecting robust operational momentum. The company commissioned 5 new hospitals, expanded its digital health platform to 49 million+ users and 15,330+ doctors, and saw diagnostics revenue grow 31%. Management projects annualized revenue of ₹250 billion by Q4 FY27 and an EBITDA margin of 6.5%-7.0% for the combined entity post-demerger. A proposed composite scheme of arrangement aims to merge Apollo Health and Lifestyle Limited with Kids Clinic India Limited to strengthen maternity and fertility services. Additionally, the Board approved a business transfer from Apollo Healthco to Apollo Consumer Products via slump sale and reappointed Dr. Prathap C Reddy as Executive Chairman for two years amid strong governance and shareholder confidence.
Source: Stock Announcements
📊 Quarterly Results (₹ Cr)
| Metric | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|
| Revenue | 5,842 | 6,304 | 6,477 | 6,606 | 7,044 |
| Operating Profit | 637 | 723 | 746 | 787 | 857 |
| OPM % | 10.9% | 11.5% | 11.5% | 11.9% | 12.2% |
| Net Profit | 441 | 494 | 516 | 551 | 610 |
| EPS | ₹30.10 | ₹33.19 | ₹34.94 | ₹36.82 | ₹40.39 |
Revenue growth has accelerated over the past four quarters, rising from ₹5,842 crore in Q1 FY26 to ₹7,044 crore in Q1 FY27, with a consistent upward trend in operating profit margin and net profit growth. EBITDA margin improved to 15.5% post-ESOP adjustments, and PAT growth outpaced revenue growth, indicating operational efficiency. Despite margin pressure from digital investments and restructuring costs, PAT growth remains robust at 34% YoY, supported by strong diagnostics and healthcare services performance. The company is on track to achieve ₹250 billion annualized revenue by Q4 FY27, with management attributing this to geographic expansion, digital adoption, and service line diversification.
🔮 Management Outlook & What's Next
Management projects annualized revenue of ₹250 billion by Q4 FY27 and an EBITDA margin range of 6.5% to 7.0% for the combined entity post-demerger, with a focus on scaling digital health, robotic surgery, and Tier 2/3 city penetration. The proposed composite scheme of arrangement to merge Apollo Health and Lifestyle Limited with Kids Clinic India Limited is central to unlocking value in pharmacy and fertility services. Management also highlighted ongoing investments in AI-driven healthcare, expansion of 1,000 new beds in FY26-27, and continued digital transformation as key growth levers, while acknowledging near-term margin pressure from integration costs and labor law changes.
Extracted from official company announcements. Not StockFin.ai's opinion.
🏦 Balance Sheet (₹ Cr)
| Item | Mar 2025 | Mar 2025 | Mar 2026 | Mar 2026 |
|---|---|---|---|---|
| Equity Capital | 72 | 72 | 72 | 72 |
| Reserves | 7,429 | 8,140 | 9,021 | 9,408 |
| Borrowings | 7,371 | 7,864 | 7,987 | 5,659 |
| Total Liabilities | 19,548 | 20,657 | 21,950 | 22,197 |
| Fixed Assets | 9,046 | 9,819 | 9,967 | 12,310 |
| Investments | 1,012 | 2,487 | 3,008 | 2,181 |
| Total Assets | 19,548 | 20,657 | 21,950 | 22,197 |
The balance sheet shows a healthy equity base of ₹72 crore with reserves growing to ₹9,408 crore as of March 2026, indicating strong retained earnings. Borrowings have increased to ₹7,987 crore from ₹7,864 crore YoY, reflecting strategic capital deployment for expansion, though leverage remains moderate at D/E of 0.60. Total assets grew to ₹22,197 crore, driven by investments in hospital infrastructure and digital assets. The company maintains a strong liquidity position with cash flows from operations of ₹2,856 crore in Q1 FY27, supporting ongoing capex and debt servicing without aggressive leverage escalation.
💰 Cash Flow Statement (₹ Cr)
| Item | Mar 2026 |
|---|---|
| Operating | +2,856 |
| Investing | -2,148 |
| Financing | -478 |
| Net Cash Flow | +230 |
👥 Shareholding Pattern
| Category | Q2FY26 | Q3FY26 | Q4FY26 | Q1FY27 |
|---|---|---|---|---|
| Promoters | 28.0% | 28.0% | 28.0% | 28.0% |
| FII | 44.2% | 43.5% | 42.6% | 41.5% |
| DII | 21.1% | 21.5% | 22.8% | 23.7% |
| Public | 4.4% | 4.7% | 4.4% | 4.5% |
| # Shareholders | 1,60,556 | 1,78,648 | 1,74,610 | 1,74,281 |
Institutional investor interest remains strong, with FII holding at 41.5% in Q1FY27, up from 42.62% in Q4FY26 but down slightly from 43.54% in Q3FY26, indicating stable accumulation. DII holdings rose to 23.72% from 21.5% in Q3FY26, suggesting growing domestic institutional confidence. Promoter holding remains steady at 28.02%, with no signs of dilution or sell-down. The shareholder base is highly diversified with 1,74,281 shareholders, reflecting broad retail and institutional participation. No promoter pledging or significant stake sales were disclosed in recent filings.
⚖️ Peer Comparison — Healthcare
| Company | MCap (₹ Cr) | P/E | ROCE | ROE | D/E |
|---|---|---|---|---|---|
| APOLLOHOSP | 1.27 L Cr | 60.9 | 22.1% | 22.9% | 0.60 |
| MANIPALHOS | 1.02 L Cr | — | — | — | 1.25 |
| MAXHEALTH | 98,594 | 67.6 | 14.4% | 13.6% | 0.27 |
| FORTIS | 70,211 | 67.0 | 13.3% | 10.8% | 0.29 |
| ASTERDM | 64,953 | 120.6 | 17.2% | 11.9% | 0.21 |
| MEDANTA | 39,538 | 71.0 | 21.9% | 16.3% | 0.10 |
| NH | 39,475 | 48.1 | 13.7% | 18.0% | 1.07 |
| LALPATHLAB | 32,366 | 46.5 | 29.6% | 21.8% | 0.00 |
| KIMS | 32,332 | 150.9 | 9.7% | 8.7% | 1.44 |
| POLYMED | 17,553 | 55.7 | 15.1% | 11.3% | 0.06 |
🔗 Peer Stock Analyses
⚠️ Risk Factors
1. Margin pressure from ongoing digital investments, restructuring costs, and labor law changes increasing gratuity liabilities by ₹192 million. 2. Execution risks associated with the proposed demerger and merger of Apollo Health and Lifestyle Limited with Kids Clinic India Limited, which require shareholder and regulatory approvals. 3. Foreign exchange volatility and geopolitical factors affecting international patient flows, as highlighted in the annual report. 4. Intensifying competition in diagnostics and hospital services, particularly from private players expanding in Tier 2/3 markets.
📋 Recent Filings
-
🔴 annual report 28 August 2026Apollo Hospitals Enterprise Ltd's FY 2025-26 Annual Report details its integrated healthcare ecosystem, financial performance, and strategic growth in...
-
🔴 Financial Results 19 August 2026Apollo Hospitals announced that the transcript of its August 13, 2026 presentation on unaudited financial results for the quarter ended June 30, 2026 ...
-
🔴 Financial Results 13 August 2026Apollo Hospitals announced that the audio recording of its analyst call discussing financial results for the quarter ended June 30, 2026 is now availa...
-
🟡 Board Meeting 12 August 2026The Board approved Q1 FY26 unaudited financial results showing profit after tax of [amount not verified], approved Price Waterhouse as new auditor for...
-
🔴 Financial Results 12 August 2026Apollo Hospitals reported consolidated revenue of ₹70,435 million for Q1 FY27, up 21% year-on-year, with PAT rising 34% to ₹5,805 million. EBITDA reac...
-
🔴 Financial Results 12 August 2026Apollo Hospitals reported Q1 FY27 revenue of **₹70,435 million**, up 20% YoY, with net profit growing 3% and EBITDA margin at 8.2%. The company commis...
-
🔴 Financial Results 12 August 2026Apollo Hospitals Enterprise Limited reported consolidated revenue of Rs 7,043 Crore for Q1 FY27, up 21% YoY, with PAT at Rs 581 Crore and EBITDA at Rs...
-
🔴 Financial Results 12 August 2026Apollo Hospitals Enterprise Limited reported consolidated revenue of Rs 7,043 Crore for Q1 FY27, up 21% YoY, with PAT at Rs 581 Crore and EBITDA at Rs...
-
🟡 Board Meeting 1 August 2026Apollo Hospitals' 45th AGM on August 25, 2026, will adopt FY2026 financial statements, declare a ₹10 interim dividend (200% of ₹5 face value), and re-...
-
🔴 annual report 1 August 2026Apollo Hospitals Enterprise Limited announced its 45th Annual General Meeting (AGM) scheduled for August 25, 2026, via video conferencing, to adopt FY...
🧠 Analyst's Read
Apollo Hospitals is executing a disciplined growth strategy with strong financial momentum, but near-term margin pressure from strategic investments and restructuring requires close monitoring. The success of the demerger and merger initiatives will be critical to unlocking value and sustaining long-term growth, making these events key watchpoints for investors.
Based on filing content and financial data. Not a recommendation.
Read the full analysis
Quarterly trends, balance sheet, cash flow, peer comparison, and AI insights — sign up free to unlock.
Sign Up Free — Unlock Full Analysis2 free AI queries per day.
Data sourced from stock announcements. Analysis generated by StockFin.ai.
For informational purposes only — not investment advice. Updated 2026-09-01.
Editorial & Data Transparency Notice
This analysis was programmatically compiled using StockFin AI utilizing official regulatory disclosures from the BSE and NSE. Content is automatically synthesized and audited against public financial filings. StockFin.ai is an educational research platform and is NOT a SEBI-registered investment advisor or research analyst.
📡 Get AI alerts when APOLLOHOSP files new disclosures
Track APOLLOHOSP filings, board meetings, and corporate actions. Free email alerts at 5 PM.
Track APOLLOHOSP — FreeFree account · 2 AI queries/day
© 2026 StockFin.ai — AI-powered Indian stock research
About · Privacy Policy · Terms of Service · Pricing
Today's Announcements · Screener · Insights · AI Chat
Data provided by CMOTS Internet Technologies Pvt Ltd