Narayana Hrudayalaya share price today

Narayana Hrudayalaya Ltd's share price was ₹1,903.00 at the close on 6 November 2026. It has been falling for 3 weeks. That is 3.9% above its average price over the last 200 trading days. In the last 52 weeks it traded between ₹1,625 and ₹2,043, and at that close it sat 66% of the way up from that low.

A share price tends to move through four phases: moving sideways (stage 1), rising (stage 2), stalling near a high (stage 3) and falling (stage 4). Today Narayana Hrudayalaya Ltd is in stage 4. The phase helps read everything below.

Over the past 13 weeks it has done better than the NIFTY 500, and it has stayed ahead for 1 week in a row.

Over the last 11 years the share price moved +559% while the NIFTY 500 moved +251%, so it is ahead of the index over that whole period. The chart above shows the 13-week comparison for every week.

This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row.

Three changes stood out: revenue up on a year earlier for 12 quarters in a row (every quarter we can compare), foreign funds (FIIs) cut their stake for 3 quarters in a row and highest quarterly profit in 16 quarters.

1. Revenue up on a year earlier for 12 quarters in a row (every quarter we can compare)

   In the September 2026 quarter revenue was ₹2,844 crore, +73% on a year earlier.

2. Foreign funds (FIIs) cut their stake for 3 quarters in a row

   From 11.1% to 9% of the company by the September 2026 quarter.

3. Highest quarterly profit in 16 quarters

   Profit of ₹301 crore in the September 2026 quarter is the highest of the last 16 quarters.

For July to September 2026 (the quarter ended 30 September 2026), Narayana Hrudayalaya reported revenue of ₹2,844 crore, up 73.0% from ₹1,644 crore a year earlier, and a profit of ₹301 crore, up 16.7% from ₹258 crore.

Narayana Hrudayalaya results: July to September 2026 against a year earlier

The next results, for October to December 2026, are due by 14 February 2027: listed companies must publish quarterly results within 45 days of the quarter's end (60 days for the January to March quarter).

The newest call in our records is from 3 August 2026, about April to June 2026; a call about these results is not in our records yet.

From the company's reported quarterly results (quarter ended 30 September 2026). Revenue and profit in ₹ crore.

Narayana Hrudayalaya closed at ₹1,903.00 on 6 November 2026, up 5.1% from ₹1,810.40 a year earlier (7 November 2025) and up 249.8% over five years. Its highest weekly close since March 2016 was ₹2,263.20 on 27 June 2025.

Narayana Hrudayalaya share price: then and now

Weekly closing prices. Each change is the move from that price to the 6 Nov 2026 close. A day's intraday high or low can go beyond these weekly closes.

561 weekly closes from 11 March 2016 to 6 November 2026.

6 Nov 2026: Narayana Hrudayalaya closed at ₹1,903.00, up 10.6% on the week and up 10.7% on the month. Results for July to September 2026: Revenue up 73.0% and profit up 16.7% on a year earlier.

Earlier

• 3 Aug 2026: Narayana Hrudayalaya held its results call for April to June 2026. Management guided: India hospitals to pursue combined volume and realization growth, with core operating margin expansion from throughput and operating leverage despite no meaningful bed additions over the next 2-3 years.
• 17 Jul 2026: ex-date for a dividend of ₹4.50 a share.
• Our read, 27 Jun 2026: The consolidation of UK Practice Plus and the Cayman insurance build have tripled group borrowings and compressed reported ROCE to current levels, creating the surface read of diluted quality.

Our read of the business

The consolidation of UK Practice Plus and the Cayman insurance build have tripled group borrowings and compressed reported ROCE to current levels, creating the surface read of diluted quality.

January to March 2026: Revenue nearly doubled on UK consolidation; India margins expanded 360 basis points to 25% while consolidated operating margin diluted to 20% from UK drag.

Our read after the January to March 2026 results, written 27 June 2026. The July to September 2026 results are out since, so this part may be out of date until we update it.

Narayana Hrudayalaya paid ₹4.50 a share in regular dividends in the 12 months to 7 November 2026 (1 payment), a yield of 0.24% at the ₹1,903.00 close on 6 November 2026. The last was a dividend of ₹4.50 a share, ex-date 17 July 2026.

Narayana Hrudayalaya dividends since 1 April 2021

Amounts as the company declared them on the NSE. A dividend goes to whoever owns the shares before the ex-date.

Yes. Narayana Hrudayalaya Ltd paid out 11% of its profit as dividends in FY26, and it paid a dividend in 7 of its last 13 reported years.

From the NSE corporate-actions record, read 7 November 2026.

On the call for April to June 2026, held on 3 August 2026, Narayana Hrudayalaya's management guided: India hospitals to pursue combined volume and realization growth, with core operating margin expansion from throughput and operating leverage despite no meaningful bed additions over the next 2-3 years.

“Premium increases will be a fact of life based on how the book performs. Our approach will be responsible pricing.Ravi Vishwanathan, on insurance pricing, on the call for April to June 2026

What management guided

• India insurance loss ratios to moderate to acceptable levels over time, with short-term volatility until portfolio scale improves.
• ALOS planned at 3.9-4.0 days as soon as possible, balanced against complex medical cases.
• Cayman insurance losses expected to improve on a rolling 2-3-quarter basis; January renewals expected to remain similar, supporting Cayman hospital growth.
• Expansion milestones: two new clinics this quarter; Southwest Bangalore 100 beds planned by end Q2; three projects shifted, two to FY29 and one to FY30.

Management’s own plans and goals, from our notes of the call. A plan is not a result.

Source: the call transcript.

From the call for April to June 2026, 3 August 2026. The July to September 2026 results are out since, so this part may be out of date until we update it.

India operating margin falls below 22% for two consecutive quarters on organic operations as new center overhead and wage inflation outpace mix gains.

Each change stops working if

• : India operating margin falls below 22% for two consecutive quarters on organic operations as new center overhead and wage inflation outpace mix gains.
• : UK operating margin remains stuck below 9% for two full financial years, indicating structural NHS-reimbursement constraints that prevent private-pay uplift.
• : Combined loss ratio remains above 105% two quarters after the June price increases, indicating adverse selection is structural rather than correctable by repricing.

The main risks

• : Three documented guidance reversals in three consecutive quarters raise the management credibility discount. ⚠ estimate
• : DII stake-cutting has been persistent, DII share fell from 14.1% in March 2023 to 9.1% in March 2026. ⚠ estimate

Our read after the January to March 2026 results, written 27 June 2026. The July to September 2026 results are out since, so this part may be out of date until we update it.

When Narayana Hrudayalaya reports October to December 2026, these are the 4 checks that show whether the story is still on course. First: India insurance loss ratios and expense controls to show moderation as claims reviews and SME-retail mix mature; check whether volatility narrows.

Narayana Hrudayalaya is on one of our India lists: Small & mid cap stocks.

Narayana Hrudayalaya Ltd earned ₹301 Cr of net profit in the Sep 2026 quarter, +16.7% on the same quarter a year earlier. That is the 3rd quarter in a row of profit growth. Full-year FY26 profit was ₹806 Cr. Over 10 years profit has grown 44.0% a year on average. That is 10.6% of the quarter's revenue.

Net profit is what is left after every cost, interest and tax. Earnings per share, dividends and book value all grow from it.

The same quarter a year earlier earned ₹258 Cr.

For the full year, FY26 profit was ₹806 Cr (+1.9% on the year before).

Why profit moved: revenue changed +73.0% on a year earlier and the margin moved −5.0 percentage points. Sales did the work while the margin got thinner.

On average over the last four quarters, profit changed +0.3% and revenue +72.0%. Profit is growing slower than sales: rising costs are taking part of the growth.

FY27-Q1. revenue ₹2,684 Cr and profit ₹207 Cr as reported.

FY27-Q2. revenue ₹2,844 Cr and profit ₹301 Cr as reported.

Why-sources: our stock research file (27 June 2026) and the company’s own results for those quarters.

Narayana Hrudayalaya Ltd reported ₹2,844 Cr of revenue in the Sep 2026 quarter, +73.0% on the same quarter a year earlier. That is the 12th quarter in a row with growth on the year before. Over 10 years it has grown 17.2% a year on average. The last full year, FY26, came in at ₹7,896 Cr.

Revenue is everything the company billed its customers in the period.

Why this happened. Cayman insurance scaled faster than modeled, from zero to approximately 60 million annualized premium in twelve months, which front-loaded adverse selection risk. Management initiated 30-35% price increases and strategic account exits from June 2026, with the goal of bringing the 110-112% combined loss ratio below 100% within three quarters. This is a small earnings contributor but removes a recurring loss drag.

The last four reported quarters add to ₹10,273 Cr.

FY26 revenue was ₹7,896 Cr, +44.0% on the year before.

Recent pace: the last four quarters grew +72.0% on average, against 17.2% a year over the longer run, so this year is growing faster than its own long-run rate.

Is growth speeding up? Revenue over the last 12 months grew +72.3%, against +41.6% a year over the last 8 quarters (accelerating); profit over the last 12 months grew +1.7%, against +4.9% a year (rolling over).

FY27-Q1. revenue ₹2,684 Cr and profit ₹207 Cr as reported.

FY27-Q2. revenue ₹2,844 Cr and profit ₹301 Cr as reported.

Why-sources: our stock research file (27 June 2026) and the company’s own results for those quarters.

Narayana Hrudayalaya Ltd's operating margin was 19.0% in the Sep 2026 quarter, 5.0 percentage points lower than the same quarter a year ago. Across 13 years it has been between 7.0% and 24.0%. The latest quarter is within that range.

Operating margin is what is left from every ₹100 of sales after the costs of running the business, before interest and tax. It shows pricing power and cost control.

Why this happened. Every quarter since FY22, NH has improved its realization per patient by shifting toward premium self-pay and insurance payers (reducing government-scheme share) and concentrating quaternary procedures, robotic cardiac, bone marrow transplants, and percutaneous aortic interventions at volumes that exceed most peers' annual totals. This is the core of the thesis: revenue growing 20% on flat beds means the efficiency model is compounding, not just inflating.

Why the margin moved: operating margin changed −5.0 percentage points on the year while gross margin changed +0.3 points. So the drop came mostly from costs below the gross margin, such as staff and overheads, measured against sales.

FY27-Q1. revenue ₹2,684 Cr and profit ₹207 Cr as reported.

FY27-Q2. revenue ₹2,844 Cr and profit ₹301 Cr as reported.

Why-sources: our stock research file (27 June 2026) and the company’s own results for those quarters.

Over the last 3 years, 154% of Narayana Hrudayalaya Ltd's reported profit came in as cash from its operations, so the profit is backed by cash. In FY26 it brought in ₹1,621 Cr of operating cash against ₹806 Cr of profit.

The profit and loss account shows what was earned. The cash-flow statement shows the cash that actually came in. Comparing operating cash flow with profit is one of the best checks that a profit is real.

After ₹4,184 Cr of spending on assets, free cash was −₹2,563 Cr: it spent more than its operations brought in.

Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year.

Why 154% of profit came in as cash: the cash cycle got 26 days shorter between FY21 and FY26, so cash that used to wait in the business now arrives sooner.

What to look at next: the bigger use of cash is spending on new assets, at 6.7× depreciation over three years. The next section checks what that spending is building.

Narayana Hrudayalaya Ltd's cash cycle, the days between paying suppliers and getting paid by customers, was −176 days in FY26, down from −150 days in FY21. It spent ₹6,460 Cr on assets over the last 3 years. Customers take 30 days to pay, and stock sits for 42 days on average.

Working capital is the cash tied up between paying suppliers and getting paid. Debtor days: how long customers take to pay. Inventory days: how long stock sits. The cash cycle: the whole loop, in days of sales.

At FY26 sales of ₹7,896 Cr, each day of that cycle ties up about ₹21.6 Cr, so roughly −₹3,807 Cr is tied up in the business at any time.

FY26: customers took 30 days to pay and stock sat for 42 days, about 1.4 months of sales sitting as stock, for a full cycle of −176 days, shorter than FY21's −150.

The full loop: cash goes out to suppliers and production on day 0. Stock sits for 42 days. Customers pay about 30 days after that. Suppliers are paid at 248 days. Together that makes the −176-day cycle.

Spending on assets: ₹6,460 Cr over the last 3 years, against ₹967 Cr of depreciation (the yearly wear and tear on existing assets). So it is building well beyond replacing what wears out. Work still in progress is ₹292 Cr (FY26): assets paid for that are not earning yet.

In short: the cash is going into new capacity, not getting stuck in the daily cycle. The question is whether the new capacity earns.

Narayana Hrudayalaya Ltd's P/E is 42.9×, in the middle of its own history: higher than 37% of past readings. Its usual P/E (the middle reading) is 46.8×, over 11 years of weekly prices. This compares the share price with the company’s own past. It does not say what the business is worth.

P/E is the share price divided by a year's profit per share: how many rupees the market pays for each rupee of yearly profit.

The P/E here, and its history, use a profit figure that can leave out one-off items, so it can differ from a P/E worked out on the quarterly results. Those results' earnings per share for the four quarters to Sep 2026 add up to ₹42.03.