Apollo Hospitals Enterprise Limited (APOLLOHOSP)
₹7,890.00 +0.01% last close, 16 Oct
Q2 FY27 results
📅 Next results: 04 Nov 2026 (board meeting)Apollo Hospitals Enterprise Limited's board meets on 4 Nov 2026 to consider its Q2 FY27 results (July-September 2026).
In its latest reported quarter, Q4 FY26, Apollo Hospitals' revenue was ₹6,606 Cr (+18.1% year on year, +2.0% on the previous quarter), and net profit ₹551 Cr (+32.9% year on year); the operating margin was 15.3%.
| Q4 FY26 (₹ Cr) | Value | YoY vs Q4 FY25 | QoQ |
|---|---|---|---|
| Revenue | ₹6,606 | +18.1% | +2.0% |
| Operating profit | ₹1,011 | +31.3% | +4.7% |
| Net profit | ₹551 | +32.9% | +6.7% |
| EPS (₹) | 36.81 | +35.8% | +5.4% |
| Operating margin | 15.3% | — | — |
APOLLOHOSP delivery percentage and open interest
NSE end-of-day data for
On Fri, 16 Oct 2026, 69.8% of the APOLLOHOSP shares traded on NSE were taken to delivery, against the stock's own 20-session average of 61.42%. Delivery was unusually high while the price barely moved (+0.01%). In APOLLOHOSP futures, open interest fell 5.86% while the futures price fell 0.57%: long unwinding (longs closing out).
Delivery in the last 5 sessions: 63.0% · 50.7% · 58.1% · 57.1% · 69.8%
A description of what the exchange published, not a recommendation. Names such as "accumulation" or "long buildup" label a pattern in the numbers. How delivery is analysed
📢 Recent Corporate Announcements
Apollo Hospitals Enterprise Limited has published newspaper notices regarding the mandatory statutory transfer of equity shares to the Investor Education and Protection Fund (IEPF). This applies to shares on which dividends have remained unpaid or unclaimed for 7 consecutive years since FY 2018-19. Concerned shareholders must submit their claims to the company or its RTA on or before September 30, 2026, failing which the shares will be transferred to the IEPF on October 05, 2026.
- Newspaper notice published regarding transfer of unclaimed equity shares to IEPF pursuant to Section 124 of the Companies Act, 2013
- Applies to dividends unclaimed for 7 consecutive years from FY 2018-19 to FY 2025-26
- Last date for shareholders to submit claims before transfer is September 30, 2026
- Scheduled date for transfer of shares to IEPF is October 05, 2026
Apollo Hospitals Enterprise Limited concluded its 45th AGM on August 25, 2026, with shareholders passing all 8 proposed resolutions. Key approvals include the adoption of FY26 financials, dividend declaration, and the re-appointment of Dr. Prathap C Reddy as Executive Chairman for two years from June 25, 2026. Shareholders also approved an enabling resolution to raise up to Rs 7,500 million (Rs 750 Cr) via Non-Convertible Debentures (NCDs) on a private placement basis, representing ~3% of TTM revenue (Rs 25,229 Cr).
- Approved issuance of secured/unsecured NCDs up to Rs 7,500 million on a private placement basis
- Re-appointment of Dr. Prathap C Reddy as Executive Chairman approved for a 2-year term starting June 25, 2026
- Re-appointment of Smt. Rama Bijapurkar as Independent Director approved for 5 years from November 12, 2026
- Total of 81 members attended the virtual AGM representing over 12.39 crore polled votes across resolutions
Apollo Hospitals Enterprise Limited concluded its 45th Annual General Meeting (AGM) on August 25, 2026, with shareholders approving all eight proposed resolutions. Key approvals include the adoption of FY26 financial statements, dividend confirmation, and an enabling resolution to raise up to ₹7,500 million (₹750 Cr) via Non-Convertible Debentures (NCDs) on a private placement basis. Shareholders also approved the re-appointment of Dr. Prathap C Reddy as Executive Chairman for two years from June 25, 2026.
- Shareholders approved an enabling resolution to issue NCDs up to ₹7,500 million (₹750 Cr) via private placement
- Re-appointment of Dr. Prathap C Reddy as Executive Chairman approved for a 2-year period effective June 25, 2026
- Re-appointment of Independent Director Smt. Rama Bijapurkar approved for 5 years effective November 12, 2026
- AGM concluded with 81 members attending via video conferencing, and all resolutions passed with requisite majority
Apollo Hospitals Enterprise Limited has informed the exchanges that the transcript of its investor presentation held on August 13, 2026 is now available. The conference call discussed the unaudited financial results for the quarter ended June 30, 2026. The submission is a routine regulatory compliance filing under SEBI LODR Regulations 30 and 46(2).
- Earnings call presentation was conducted on August 13, 2026
- Pertains to unaudited financial results for the 3 months ended June 30, 2026
- Transcript formally released on the company website as of August 19, 2026
Apollo Hospitals has released the audio recording of its analyst call for the quarter ended June 30, 2026. This is a standard post-earnings procedure to ensure transparency for all shareholders. The call provides management's perspective on the company's TTM revenue of Rs 25,229 Cr and its ongoing expansion strategy. Investors can access the recording to hear details on the planned addition of 3,500-4,300 beds and the performance of the Apollo 24/7 digital platform.
- Audio recording link provided for the three-month period ended June 30, 2026
- Company is currently managing a TTM revenue base of Rs 25,229 Cr
- Expansion strategy involves adding 3,500-4,300 beds over the next 4 years
- Pharmacy segment continues to scale with a network of 6,626 retail stores
- Management previously reported a narrowing loss of Rs 71 Cr in the digital segment for Q2 FY26
Apollo Hospitals (AHEL) has provided a strategic update on its HealthCo and Keimed merger, reporting a combined proforma revenue of ₹5,346.8 Cr for Q1 FY27. The company is targeting a massive annualized revenue run rate of ₹25,000 Cr for this integrated entity by Q4 FY27, with expected EBITDA margins of 6.5-7.0%. AHEL expects to list the 'New Co' (HealthCo) by Q4 FY27, maintaining a 59.2% majority stake. Digital 24/7 operating costs for the quarter stood at ₹81.1 Cr as the segment moves toward profitability.
- Combined proforma revenue for HealthCo and Keimed reached ₹5,346.8 Cr in Q1 FY27
- Targeting an annualized revenue run rate of ₹25,000 Cr for the integrated entity by Q4 FY27
- Estimated listing of the merged 'New Co' scheduled for Q4 FY27 post-regulatory approvals
- AHEL to retain a 59.2% stake in the combined entity following the Keimed amalgamation
- Digital 24/7 operating costs (excluding ESOP) were ₹81.1 Cr for the June 2026 quarter
Apollo Hospitals (AHEL) reported its Q1 FY27 investor update, highlighting a proforma combined revenue of Rs 5,346.8 Cr for its HealthCo and Keimed segments. The company is on track for the composite scheme to merge Keimed into Apollo HealthCo, with an estimated listing of the new entity by Q4 FY27. Management has set a target annualized revenue run rate of Rs 25,000 Cr for the new entity by Q4 FY27, with EBITDA margins expected between 6.5% and 7.0%. The core hospital segment continues its aggressive expansion, targeting 4,300 additional beds across 15 new hospitals.
- Targeting Rs 25,000 Cr annualized revenue run rate for the new HealthCo entity by Q4 FY27
- Q1 FY27 combined EBITDA for HealthCo and Keimed reached Rs 389.8 Cr at a 7.3% margin
- Apollo 24/7 digital platform operating costs stood at Rs 81.1 Cr for the quarter
- Planned expansion of 4,300 beds across 15 new hospitals in Metro Tier 1 and Tier 2 cities
- AHEL to retain a 59.2% controlling stake in the new entity post-merger and listing
Apollo Hospitals reported a strong standalone performance for Q1 FY27, with revenue growing 22.5% YoY to ₹2,656.1 Cr. Standalone PAT rose 25.5% to ₹385.2 Cr, driven by a 20.2% increase in EBITDA to ₹656.2 Cr. The board also approved a slump sale of the FMCG and wellness distribution business from its material subsidiary, Apollo Healthco, to a new wholly-owned subsidiary, Apollo Consumer Products Ltd. Additionally, Price Waterhouse was appointed as the statutory auditor for a five-year term starting in 2027.
- Standalone Revenue from operations increased 22.5% YoY to ₹2,656.1 Cr in Q1 FY27
- Standalone Profit After Tax (PAT) grew 25.5% YoY to ₹385.2 Cr from ₹306.9 Cr
- Standalone EBITDA reached ₹656.2 Cr, up 20.2% compared to ₹546.1 Cr in Q1 FY26
- Approved slump sale of FMCG and wellness undertaking from Apollo Healthco Ltd to Apollo Consumer Products Ltd
- Granted 46,798 additional stock options and RSUs to new employees under the 2024 ESOP plan
Apollo Hospitals reported a strong standalone performance for Q1 FY27, with revenue from operations reaching ₹2,656.1 Cr, a 22.5% increase from ₹2,167.9 Cr in Q1 FY26. Standalone Profit After Tax (PAT) grew 25.5% YoY to ₹385.2 Cr, while EBITDA rose 20.2% to ₹656.2 Cr. The company also announced a strategic slump sale of its FMCG and wellness undertaking from its subsidiary Apollo Healthco to a new wholly-owned subsidiary, Apollo Consumer Products Limited. Additionally, Price Waterhouse was appointed as the statutory auditor for a five-year term starting in 2027.
- Standalone revenue from operations grew 22.5% YoY to ₹2,656.1 Cr in Q1 FY27
- Standalone PAT increased to ₹385.2 Cr compared to ₹306.9 Cr in the previous year's corresponding quarter
- EBITDA for the quarter stood at ₹656.2 Cr, up from ₹546.1 Cr in Q1 FY26
- Board approved the grant of 46,798 additional stock options under the Apollo ESOP Plan 2024
- Subsidiary Apollo Healthco to transfer its FMCG/wellness business to Apollo Consumer Products via a slump sale
Apollo Hospitals reported a strong standalone performance for Q1 FY27, with revenue growing 22.5% YoY to ₹2,656.1 Cr. Standalone PAT increased 25.5% YoY to ₹385.2 Cr, while EBITDA rose 20.2% to ₹656.2 Cr. The company also announced a structural change where its material subsidiary, Apollo Healthco (AHL), will transfer its FMCG wholesale distribution business to a new wholly-owned subsidiary, ACPL, via a slump sale. Additionally, Price Waterhouse was appointed as the statutory auditor for a five-year term starting from the 2027 AGM.
- Standalone revenue from operations reached ₹2,656.1 Cr in Q1 FY27, up from ₹2,167.9 Cr in Q1 FY26.
- Standalone Profit After Tax (PAT) grew to ₹385.2 Cr, representing a 25.5% increase over the same period last year.
- EBITDA for the quarter stood at ₹656.2 Cr, a 20.2% growth compared to ₹546.1 Cr in Q1 FY26.
- Apollo Healthco Limited to transfer its FMCG and wellness wholesale distribution undertaking to Apollo Consumer Products Limited (ACPL).
- Board approved the grant of 46,798 additional stock options/RSUs to new employees under the ESOP 2024 plan.
Apollo Hospitals Enterprise Limited has issued a formal notice for its 45th Annual General Meeting (AGM) through newspaper advertisements. The filing primarily focuses on administrative procedures, specifically the e-voting process and the submission of tax-related documents for dividend payments. Shareholders must submit relevant tax exemption forms (like 15G/15H) by August 18, 2026, to ensure appropriate Tax Deducted at Source (TDS) on their dividends. This is a standard annual compliance event for a company with a TTM revenue of ₹25,229 Cr.
- Notice issued for the 45th Annual General Meeting (AGM) of the company.
- Deadline for submitting tax-related documents (Form 15G/15H/10F) is August 18, 2026, by 5:00 PM IST.
- Advertisements published in Business Standard (All India English) and Makkal Kural (Tamil Nadu Tamil).
- Company reported a TTM Revenue of ₹25,229 Cr and TTM PAT of ₹2,002 Cr as per recent financial context.
Apollo Hospitals has scheduled its 45th Annual General Meeting (AGM) for August 25, 2026. The Board has recommended a final dividend of ₹10 per share, which, combined with the interim dividend of ₹10 paid in February 2026, brings the total FY26 dividend to ₹20 per share (400% of face value). A key resolution includes the re-appointment of founder Dr. Prathap C Reddy as Executive Chairman for a two-year term until June 2028. Shareholding data as of March 2026 shows high institutional interest, with FIIs holding 42.62% and Mutual Funds holding 16.65%.
- Final dividend of ₹10 per share recommended, bringing total FY26 payout to ₹20 per share.
- Dr. Prathap C Reddy re-appointed as Executive Chairman for a 2-year term from June 25, 2026, to June 24, 2028.
- FII shareholding remains high at 42.62% as of March 31, 2026, involving 1,164 institutional investors.
- Promoter and Promoter Group holding stands at 28.02% across 24 shareholders.
- AGM to be held on August 25, 2026, via Video Conferencing to adopt FY26 financial statements.
Apollo Hospitals has issued a notice for its 45th AGM on August 25, 2026, to approve a final dividend of Rs 10 per share, bringing the total FY26 dividend to Rs 20. A key agenda item is the proposal to raise up to Rs 750 crore through Non-Convertible Debentures (NCDs), representing approximately 3% of TTM revenue. The meeting will also vote on the re-appointment of founder Dr. Prathap C Reddy as Executive Chairman for a two-year term and Smt. Rama Bijapurkar as an Independent Director for five years. These resolutions aim to maintain management continuity and provide flexible capital for the group's operations.
- Proposed issuance of Non-Convertible Debentures (NCDs) up to Rs 750 crore on a private placement basis.
- Recommendation of a final dividend of Rs 10 per share (200% of face value), following a Rs 10 interim dividend paid in Feb 2026.
- Re-appointment of Dr. Prathap C Reddy as Executive Chairman for a 2-year term from June 25, 2026, to June 24, 2028.
- Ratification of the interim dividend payout totaling Rs 143.78 crore (Rs 1,437.85 million).
- Re-appointment of Smt. Rama Bijapurkar as Independent Director for a second 5-year term starting November 12, 2026.
Apollo Hospitals Enterprise Limited (AHEL) has scheduled its Q1 FY27 earnings release for August 12, 2026, with a follow-up investor conference call on August 13, 2026. The call will feature senior leadership including the Managing Director, Group CFO, and CEOs of the Hospital and HealthCo divisions. This interaction follows a strong TTM performance with revenue of ₹25,229 Cr and a PAT of ₹2,002 Cr. Investors will likely focus on the progress of the planned 3,500-4,300 bed expansion and the narrowing losses of the Apollo 24/7 digital platform.
- Financial results for the quarter ended June 30, 2026, to be announced on August 12, 2026
- Investor conference call scheduled for August 13, 2026, at 3:00 PM IST
- Management representation includes MD Suneeta Reddy and CEOs of Hospital, HealthCo, and Pharmacy divisions
- Company currently operates a network of over 10,000 beds across 73 hospitals and 6,000+ pharmacies
- TTM revenue stands at ₹25,229 Cr with a current market capitalization of ₹1,30,867 Cr
Apollo Hospitals Enterprise Limited has submitted its quarterly compliance certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018. The filing confirms that share certificates received for dematerialization during the quarter ended June 30, 2026, were processed, mutilated, and cancelled. This is a standard administrative procedure to ensure the company's shareholding records are accurately maintained in electronic form. The announcement has no impact on the company's financial performance or business operations.
- Compliance certificate issued for the quarter ended June 30, 2026
- Confirms mutilation and cancellation of physical share certificates after due verification
- Registrar Integrated Registry Management Services Private Limited confirmed the processing within stipulated time limits
- The company maintains a market capitalization of Rs 127,991 Cr as of the reporting date
Financial Performance
Revenue Growth by Segment
Consolidated revenue grew 15% YoY in FY25. Healthcare services segment, back-end pharmacy (AHL), and diagnostics/retail health were primary drivers. Pharmacy distribution grew 16% YoY. In Q2 FY26, Apollo HealthCo revenue reached INR 2,661 Cr (up 17% YoY) and Apollo Health & Lifestyle (AHLL) reached INR 474 Cr (up 17% YoY).
Geographic Revenue Split
Revenue is diversified across India: Tamil Nadu contributes 25%, Andhra Pradesh and Telangana 16%, and the Eastern region 23%. The remaining is spread across other geographies and metro/tier-2 cities.
Profitability Margins
Consolidated operating margins improved by 120 bps to 13.9% in FY25 from 12.7% in FY24. Healthcare services maintain robust margins of over 24%. Apollo HealthCo (AHL) margins improved to 1.8% in FY25 from negative levels in FY23/24. Post-demerger of AHL in FY28, margins are expected to reach 21-24%.
EBITDA Margin
Consolidated EBITDA margin is expected to sustain at 13.5-14% in FY26. Healthcare segment EBITDA is strong at 24%. Apollo HealthCo reported an EBITDA of INR 110 Cr in Q2 FY26, up 111.5% from INR 52 Cr in Q2 FY25.
Capital Expenditure
In FY25, total capital expenditure was INR 1,712.7 Cr, comprising INR 1,415.2 Cr for Hospitals, INR 143.7 Cr for AHLL, and INR 153.8 Cr for HealthCo. Planned expansion includes adding 3,500-4,300 beds over the next 3-4 years.
Credit Rating & Borrowing
Maintained 'CRISIL AA+/Stable/CRISIL A1+' rating. Total debt (including lease liabilities) stood at INR 5,389 Cr as of March 2025. The company availed new debt of INR 2,585.3 Cr in FY25 with a gearing ratio of 0.61x.
Operational Drivers
Raw Materials
Material costs (medicines, surgical consumables, and medical supplies) represent 25.3% of total revenue.
Key Suppliers
Keimed Pvt Ltd is a key partner for pharmacy distribution infrastructure; other medical equipment and pharmaceutical vendors are used with renegotiated rates to improve unit economics.
Capacity Expansion
Current network includes 6,626 retail pharmacy stores. Planned expansion of 15 hospitals with a combined capacity of 4,300 beds in new and existing markets. Pharmacy segment aims to add at least 500 stores annually.
Raw Material Costs
Material costs are maintained at 25.3% of revenue, moving in line with revenue growth. Procurement strategies include leveraging Keimed's infrastructure and renegotiating vendor rates to reduce digital vertical losses by INR 30 Cr YoY in Q2 FY26.
Manufacturing Efficiency
Occupancy levels improved to 68% in FY25 from 65% in FY24. Average Revenue Per Occupied Bed (ARPOB) grew 5% YoY to INR 60,588. Inpatient (IP) discharges grew 7% to 604,250.
Logistics & Distribution
Pharmacy distribution business leverages a network of 6,626 stores and 96 distribution centers to ensure pan-India accessibility.
Strategic Growth
Expected Growth Rate
15%
Growth Strategy
Growth will be achieved through the addition of 3,500-4,300 beds over 4 years, adding 500 pharmacy stores annually, and scaling the Apollo 24/7 digital platform (currently 44 million users). The company is also focusing on high-end surgical volumes in Centres of Excellence and increasing the mix of private label pharmacy products (currently 15.2% of revenue).
Products & Services
Inpatient and outpatient healthcare services, surgical procedures, pharmacy retail and distribution, diagnostic tests, and digital healthcare consultations via Apollo 24/7.
Brand Portfolio
Apollo Hospitals, Apollo 24/7, Apollo HealthCo, Apollo Health & Lifestyle (AHLL), Keimed, Apollo ESOP 2024.
New Products/Services
Expansion of private labels and generics in pharmacy (15.2% of revenue), digital therapeutics, and insurance monetization through the Apollo 24/7 platform.
Market Expansion
Expansion into Metro Tier 1 and Tier 2 cities with 15 new hospitals. Pharmacy expansion targeting 1,100+ cities and towns.
Market Share & Ranking
Largest private healthcare provider in the domestic Indian market; pharmacy business is more than 2x the size of the nearest competitor.
Strategic Alliances
Strategic investment of INR 725 Cr in Keimed Pvt Ltd by Apollo HealthCo to strengthen the distribution supply chain.
External Factors
Industry Trends
The industry is shifting toward omnichannel healthcare and digital integration. Apollo is positioning itself as a leader through Apollo 24/7, aiming for breakeven in the digital vertical within 6 quarters.
Competitive Landscape
Operates in a highly competitive market with other private hospital chains and unorganized retail pharmacies, but maintains leadership through scale and clinical excellence.
Competitive Moat
Durable moat through brand equity, the largest physical hospital network in India, JCI accreditations, and a pharmacy business with 2x the scale of competitors. Sustainability is high due to high switching costs in specialized tertiary care.
Macro Economic Sensitivity
Sensitive to domestic economic growth and healthcare spending; however, the essential nature of healthcare provides some resilience to inflation.
Consumer Behavior
Increasing preference for digital health services and home delivery of medicines, addressed by the 44 million user base on Apollo 24/7.
Geopolitical Risks
Minimal direct impact as operations are primarily domestic (India), though global supply chains for medical equipment may be affected.
Regulatory & Governance
Industry Regulations
Subject to healthcare regulations, pollution norms for medical waste, and potential government pricing controls on essential medicines and medical procedures.
Environmental Compliance
The company ensures responsible disposal of medical waste and adheres to safety and skills upgradation training for all employees.
Taxation Policy Impact
Deferred tax liability stood at INR 458 Cr in FY25; no significant change from previous year.
Risk Analysis
Key Uncertainties
The primary uncertainty is the continued cash burn of the Apollo 24/7 platform, which is expected to incur INR 350-400 Cr in annual spends over the medium term.
Geographic Concentration Risk
High concentration in South India, with Tamil Nadu, Andhra Pradesh, and Telangana accounting for 41% of the hospital footprint.
Third Party Dependencies
Significant dependency on Keimed for the back-end pharmacy supply chain and distribution.
Technology Obsolescence Risk
Risk of digital platform obsolescence; mitigated by continuous investment in Apollo 24/7 and recruitment of specialized medical consultants for advanced procedures.
Credit & Counterparty Risk
Receivables increased in FY25, contributing to a higher current ratio, but liquidity remains robust with over INR 1,900 Cr steady-state cash expected.
