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Apollo Hospitals Q3 FY26: Consolidated PAT Surges 170% YoY to ₹5,023 Million
Apollo Hospitals Enterprise Limited reported a robust performance for Q3 FY26, with consolidated revenue growing 17% YoY to ₹64,774 million. The company's bottom line saw a massive jump, with PAT increasing 170% YoY to ₹5,023 million, driven by strong operational performance across all business verticals. The core Healthcare Services segment maintained healthy EBITDA margins of 24.8%, while the Apollo HealthCo and AHLL segments both recorded 20% revenue growth, signaling strong momentum in digital health and retail clinics.
Key Highlights
Consolidated Revenue increased by 17% YoY to ₹64,774 million in Q3 FY26.
Consolidated PAT witnessed a significant 170% YoY surge, reaching ₹5,023 million.
Healthcare Services (Hospitals) reported an EBITDA margin of 24.8% with 67% occupancy.
Apollo HealthCo (Digital & Pharmacy) revenue grew 20% YoY to ₹28,274 million with 7,113 outlets.
Retail Health (AHLL) EBITDA grew by 39% YoY to ₹476 million, reflecting improved profitability.
💼 Action for Investors
Investors should take note of the significant margin expansion and the massive jump in PAT, which indicates strong operational efficiency. The continued growth in the digital health platform (Apollo 24|7) and the pharmacy network strengthens the company's long-term competitive position.
Apollo Hospitals Q3 FY26 PAT Surges 170% YoY to ₹4,219 Million
Apollo Hospitals reported a robust performance for Q3 FY26, with consolidated revenue growing 17% YoY to ₹64,774 million. The company's Profit After Tax (PAT) saw a massive jump of 170% YoY, reaching ₹4,219 million, driven by strong operational efficiencies and growth across all business segments. Healthcare services remained the primary contributor with a 24.8% EBITDA margin, while the digital health and pharmacy segment (HealthCo) continued its growth trajectory with 20% revenue growth.
Key Highlights
Consolidated PAT increased by 170% YoY to ₹4,219 million in Q3 FY26.
Healthcare Services revenue grew 14% YoY to ₹31,832 million with an EBITDA margin of 24.8%.
Average Revenue per IP Patient (ARPOB) stood at ₹180,917 with 67% occupancy across 10,325 beds.
Apollo HealthCo (Digital & Pharmacy) revenue rose 20% YoY to ₹28,274 million.
Retail Health (AHLL) EBITDA grew by 39% YoY to ₹476 million, showing improved profitability in diagnostics and clinics.
💼 Action for Investors
The strong growth in PAT and steady margins in the core hospital business make this a positive update for long-term investors. Monitor the continued scaling and path to profitability of the Apollo 24|7 digital platform as it integrates further with the pharmacy business.
Apollo Hospitals Q3 FY26: PAT Surges 170% YoY to ₹5,023 Million; HealthCo Turns Profitable
Apollo Hospitals Enterprise Limited reported a robust Q3 FY26 with consolidated revenue growing 15% YoY to ₹64,774 million. The company achieved a significant milestone as its Apollo HealthCo segment (Digital & Pharmacy) turned EBITDA positive at ₹1,279 million, compared to a loss of ₹1,027 million in the previous year. Net profit (PAT) saw a massive 170% jump to ₹5,023 million, driven by strong hospital margins and the digital turnaround. The core Healthcare Services division maintained a healthy 24.8% EBITDA margin with an average revenue per inpatient of ₹180,917.
Key Highlights
Consolidated Revenue increased 15% YoY to ₹64,774 million in Q3 FY26.
Net Profit (PAT) grew by 170% YoY to ₹5,023 million.
Apollo HealthCo achieved EBITDA of ₹1,279 million, a sharp recovery from a ₹1,027 million loss in Q3 FY25.
Healthcare Services (Hospitals) reported 14% revenue growth and 18% EBITDA growth with 67% occupancy.
Pharmacy network expanded to 7,113 outlets with 46 million registered users on the Apollo 24|7 platform.
💼 Action for Investors
The turnaround in the digital health and pharmacy segment is a major positive trigger for the stock's valuation. Investors should maintain a positive outlook given the strong hospital margins and the scaling of the omni-channel healthcare platform.
Apollo Hospitals Subsidiary Acquires Belenus Champion Hospitals for Rs 1,650 Million
Apollo Hospitals' subsidiary, Imperial Hospital and Research Centre Limited, has completed the 100% acquisition of Belenus Champion Hospitals in Bangalore for a total cost of Rs 1,650 million. The target company, which operates a 125-bed facility, reported a turnover of Rs 274.90 million in FY25. Apollo plans to invest a total of Rs 3,000 million to upgrade and expand the facility to 175 beds. The revamped multi-speciality hospital is scheduled to reopen by Q1 FY27, strengthening Apollo's footprint in the Bangalore healthcare market.
Key Highlights
Acquired 100% stake in Belenus Champion Hospitals for a total consideration of Rs 1,650 million including liabilities.
Target company reported FY25 revenue of Rs 274.90 million compared to Rs 305.84 million in FY24.
Total project cost of Rs 3,000 million earmarked for acquisition and expansion to a 175-bed facility.
The hospital is currently being upgraded and is expected to be operational by Q1 FY27.
Acquisition executed through a 90% owned subsidiary, making Belenus a step-down subsidiary of Apollo Hospitals.
💼 Action for Investors
Investors should monitor the progress of the facility upgrade as this acquisition strengthens Apollo's presence in the high-demand Bangalore market. The long-term value will depend on the successful turnaround and scaling of the 175-bed facility by FY27.
Apollo Hospitals Q3FY26 Standalone PAT up 12% YoY to ₹384 Cr; Declares ₹10 Interim Dividend
Apollo Hospitals reported a robust performance for Q3FY26 with standalone revenue growing 15% YoY to ₹2,364 crore. Standalone EBITDA increased by 16% YoY to ₹594 crore, while Profit After Tax rose 12% to ₹384 crore, despite a one-time exceptional charge of ₹11.4 crore related to new labour codes. The Board has declared an interim dividend of ₹10 per share (200% of face value) with a record date of February 16, 2026. The company is also progressing with its strategic restructuring to demerge its pharmacy and digital health businesses.
Key Highlights
Standalone Revenue from operations grew 15% YoY to ₹23,637 million compared to ₹20,548 million in Q3FY25.
Standalone EBITDA rose 16% YoY to ₹5,935 million from ₹5,118 million in the previous year.
Interim dividend of ₹10 per share declared; Record date fixed as February 16, 2026.
Profit After Tax (PAT) increased 12.3% YoY to ₹3,835 million despite an exceptional cost of ₹114 million.
Company has filed an application with NCLT for the demerger of its pharmacy distribution and digital health platform.
💼 Action for Investors
Investors should take note of the steady double-digit growth across key financial metrics and the healthy dividend payout. The upcoming demerger of the pharmacy and digital health business remains a key monitorable for long-term value unlocking.
Apollo Hospitals Declares ₹10 Interim Dividend; Q3 PAT Rises 12% YoY to ₹3,835 Million
Apollo Hospitals has declared an interim dividend of ₹10 per share (200% of face value) for FY26, with the record date fixed for February 16, 2026. The company reported a 15% YoY growth in standalone revenue to ₹23,637 million for the quarter ended December 31, 2025. Standalone Profit After Tax (PAT) grew by 12% YoY to ₹3,835 million, even after accounting for a ₹114 million exceptional charge related to new labour codes. Additionally, the company is progressing with its composite scheme of arrangement for the demerger of its pharmacy and digital health businesses, currently awaiting NCLT approval.
Key Highlights
Interim dividend of ₹10 per share (200% of FV) declared with a record date of February 16, 2026.
Standalone Revenue from operations increased 15% YoY to ₹23,637 million in Q3 FY26.
EBITDA grew 16% YoY to ₹5,935 million, maintaining healthy operational margins.
Net Profit (PAT) for the quarter stood at ₹3,835 million compared to ₹3,416 million in the previous year.
Exceptional item of ₹114 million recorded due to regulatory changes in Labour Codes affecting employee benefits.
💼 Action for Investors
Investors seeking dividend income should ensure they hold the stock before the February 16 record date. Long-term investors should track the NCLT approval process for the pharmacy business demerger as it could unlock significant value.
Apollo Hospitals Q3 PAT Rises 12% to ₹383.5 Cr; Declares ₹10 Interim Dividend
Apollo Hospitals Enterprise Limited reported a steady performance for Q3 FY26, with standalone revenue from operations growing 15% YoY to ₹2,363.7 crore. Net profit increased by 12.3% YoY to ₹383.5 crore, despite a one-time exceptional charge of ₹11.4 crore due to new labour code provisions. The company rewarded shareholders with an interim dividend of ₹10 per share. Furthermore, the company has moved forward with its restructuring plan, filing an application with the NCLT for the demerger of its pharmacy and digital health businesses.
Key Highlights
Standalone Revenue from operations increased 15% YoY to ₹2,363.7 crore from ₹2,054.8 crore.
EBITDA grew by 16% YoY to ₹593.5 crore compared to ₹511.8 crore in the same quarter last year.
Profit After Tax (PAT) stood at ₹383.5 crore, up from ₹341.6 crore in Q3 FY25.
Declared an interim dividend of ₹10 per share (200% of face value) with a record date of Feb 16, 2026.
Exceptional item of ₹11.4 crore recognized due to increased gratuity and leave liabilities under new Labour Codes.
💼 Action for Investors
Investors should maintain a positive outlook given the consistent growth in the core healthcare segment and the upcoming value unlocking from the pharmacy business demerger. The interim dividend provides an immediate yield benefit while waiting for the restructuring to conclude.
CRISIL Revises Apollo Hospitals' Outlook to 'Positive'; Reaffirms 'AA+' Rating
CRISIL Ratings has revised the outlook on Apollo Hospitals Enterprise Ltd (AHEL) to 'Positive' from 'Stable' while reaffirming its 'CRISIL AA+' rating. This revision reflects AHEL's dominant market position as India's largest private healthcare provider and expectations of sustained mid-teen revenue growth. The company is projected to achieve consolidated revenues of over Rs. 24,000 crores in fiscal 2026 with healthy EBITDA margins of 23-24% post-demerger of its pharmacy business. Despite a planned capex of Rs. 6,000 crore for bed expansion, the company maintains a robust financial profile with a cash surplus of Rs. 3,222 crore.
Key Highlights
Long-term rating outlook revised to 'Positive' from 'Stable'; 'CRISIL AA+' rating reaffirmed.
Consolidated revenue estimated to grow 12-15% YoY to over Rs. 24,000 crores in fiscal 2026.
Planned capex of ~Rs. 6,000 crore to add 3,600+ beds over the next 3-5 years.
Strong liquidity position with cash and cash equivalents of Rs. 3,222 crore as of September 30, 2025.
Debt/EBITDA estimated at 1.65x for FY26, with expectations to drop below 1.5x by FY27.
💼 Action for Investors
The outlook revision to 'Positive' indicates a potential rating upgrade in the medium term, reflecting strong operational cash flows and market leadership. Investors should view this as a sign of high credit quality and financial stability as the company executes its massive bed expansion plan.
Apollo Hospitals gets CCI nod to acquire 30.58% stake in AHLL for Rs 12,540.68 million
Apollo Hospitals Enterprise Limited has received approval from the Competition Commission of India (CCI) to acquire a 30.58% equity stake in its subsidiary, Apollo Health and Lifestyle Limited (AHLL). The acquisition involves purchasing 41,650,368 equity shares from the International Finance Corporation (IFC) and IFC EAF for a total consideration of Rs 12,540.68 million. This move consolidates Apollo's ownership in its retail healthcare arm, which includes clinics, diagnostics, and primary care. The transaction follows the initial board approval granted in September 2025.
Key Highlights
CCI approved the acquisition of 41,650,368 equity shares (30.58% stake) in AHLL.
The total purchase consideration for the stake is Rs 12,540.68 million.
The stake is being acquired from International Finance Corporation (IFC) and IFC EAF Apollo Investment Company.
This acquisition increases Apollo's control over its high-growth retail healthcare and diagnostics business.
💼 Action for Investors
Investors should view this consolidation of a key subsidiary as a positive long-term move for earnings accretion. Monitor the impact on the company's cash flow and the subsequent growth trajectory of the AHLL segment.
Apollo Hospitals gets CCI nod to acquire 30.58% stake in AHLL for ₹1,254 crore
Apollo Hospitals Enterprise Limited has received approval from the Competition Commission of India (CCI) to acquire a 30.58% equity stake in its subsidiary, Apollo Health and Lifestyle Limited (AHLL). The company will purchase 41,650,368 equity shares from the International Finance Corporation (IFC) and IFC EAF for a total consideration of Rs 12,540.68 million. This acquisition, originally approved by the board in September 2025, consolidates Apollo's ownership in its retail healthcare and diagnostics arm. The regulatory clearance marks a significant milestone in completing this strategic transaction.
Key Highlights
CCI approved the acquisition of 41,650,368 equity shares in subsidiary AHLL.
The 30.58% stake is being acquired for a total purchase consideration of Rs 12,540.68 million.
The stake was jointly held by International Finance Corporation (IFC) and IFC EAF Apollo Investment Company.
The acquisition follows the board's prior approval granted on September 12, 2025.
Consolidates ownership in the high-growth retail healthcare and lifestyle business segment.
💼 Action for Investors
Investors should view this consolidation of ownership in a key subsidiary as a positive move for long-term value creation. Monitor the impact on consolidated earnings as the company gains full control over AHLL's cash flows.
Apollo Hospitals Gets NSE 'No Objection' for Apollo Healthtech Demerger and Merger Scheme
Apollo Hospitals Enterprise Limited (AHEL) has received a 'No Objection' letter from the National Stock Exchange (NSE) for its proposed composite scheme of arrangement. The scheme involves the demerger of an identified business undertaking into Apollo Healthtech Limited, alongside the amalgamation of Apollo Healthco and Keimed Private Limited into the same entity. This follows the prior approval from the Competition Commission of India (CCI) received in September 2025. The company is now authorized to file the scheme with the National Company Law Tribunal (NCLT) for final approval.
Key Highlights
NSE issued the 'No Objection' letter on December 23, 2025, which is valid for six months for NCLT filing.
The restructuring involves the demerger of an identified business and the merger of Apollo Healthco and Keimed Private Limited.
Apollo Healthtech Limited (the Resultant Company) is slated for listing on both NSE and BSE post-restructuring.
The company must ensure that trading in new securities commences within 60 days of the final NCLT order.
CCI approval for the transactions was previously secured on September 24, 2025.
💼 Action for Investors
Investors should view this as a significant step toward value unlocking in the pharmacy and digital health segments. Monitor the NCLT approval timeline and the specific share entitlement ratios for the new entity.
Apollo Hospitals Receives NSE 'No Objection' for Composite Scheme of Arrangement
Apollo Hospitals (AHEL) has received a 'no objection' letter from the National Stock Exchange (NSE) for its proposed composite scheme of arrangement. The scheme involves the demerger of an identified business undertaking into Apollo Healthtech Limited and the amalgamation of Apollo Healthco and Keimed Private Limited into the same entity. This regulatory milestone follows the prior approval from the Competition Commission of India (CCI) received in September 2025. The restructuring aims to consolidate the health-tech and pharmacy distribution businesses, leading to a separate listing of Apollo Healthtech.
Key Highlights
Received NSE 'No Objection' letter on December 23, 2025, for the composite scheme of arrangement.
Scheme involves demerger of identified business and merger of Apollo Healthco and Keimed into Apollo Healthtech Limited.
The Resultant Company, Apollo Healthtech, is proposed to be listed on both NSE and BSE post-scheme completion.
The validity of the NSE observation letter is six months, within which the scheme must be submitted to the NCLT.
The transaction remains subject to approvals from NCLT, shareholders, and creditors of the involved entities.
💼 Action for Investors
Investors should monitor the upcoming NCLT proceedings and shareholder meetings as this restructuring is a key step toward value unlocking in the health-tech segment. The eventual listing of Apollo Healthtech could provide a distinct valuation for the digital and distribution business.