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Investor Presentation

Nephrocare Health Services Investor Presentation: Key Takeaways

H1FY27 revenue ₹585.2 Cr (+23.6% YoY), Adj EBITDA ₹134.4 Cr (+15.3%), Adj PAT ₹76.1 Cr (+34.7%). Expansion via acquisitions in Philippines, Kazakhstan and Saudi Arabia.

Highlights
Revenue growthRevenue +23.6% YoY to ₹585.2 Cr in H1
MarginsH1 Adj EBITDA margin 23.0% (-165bps); Q2 22.7% (-443bps)
Demand visibilityGuests +9.6%, treatments +12.6%; dialysis is recurring 3x weekly
Management confidenceConfident 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)
Source

Investor Presentation filed with NSE, NSE: NEPHROPLUS. Summary written with AI assistance from the document.

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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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