Apollo Hospitals (APOLLOHOSP) Q2 2026 earnings summary

Executive summary

• Q2 FY26 consolidated revenue grew 13% year-on-year to INR 6,304 crore (₹63,035 million), with EBITDA up 15% and PAT up 26%.

• All core divisions—Healthcare Services, Retail Healthcare & Diagnostics, and Digital & Pharmacy Distribution—delivered double-digit revenue and profit growth.

• H1 FY26 consolidated revenue was INR 12,146 crore (₹121,456 million), up 14% year-on-year, with PAT at INR 910 crore, a 33% increase.

• Expansion plans include adding 4,400 capacity beds (~3,600 census beds) over five years, with six new hospitals to be commissioned by end of next fiscal.

• The group is progressing with a composite scheme to demerge and list its omnichannel pharmacy and digital health businesses.

Financial highlights

• Q2 FY26 consolidated revenue: INR 6,304 crore (13% YoY); EBITDA: INR 941 crore (15% YoY); PAT: INR 477 crore (26% YoY).

• H1 FY26 consolidated revenue: INR 12,146 crore (14% YoY); EBITDA: INR 1,793 crore (20% YoY); PAT: INR 910 crore (33% YoY).

• Healthcare Services Q2 revenue: INR 3,169 crore (9% YoY); EBITDA margin: 24.6%.

• Apollo HealthCo and Digital Health Q2 revenue: INR 2,661 crore (17% YoY); AHLL/Diagnostics Q2 revenue: INR 474 crore (17% YoY).

• Group-wide occupancy stood at 69% in Q2 FY26; ARPP grew 9% YoY to INR 173,318.

Outlook and guidance

• Annualized revenue run rate of INR 25,000 crore targeted by Q4 FY27 with a 7% EBITDA margin.

• Six new hospitals to be fully operational by end of next fiscal, with ramp-up and break-even plans in place.

• Digital business and pharmacy distribution platforms are on track for break-even, with cost structure stabilized and further synergies expected post-merger.

• Expansion focuses on Tier-1 cities and metros, with ongoing evaluation of bolt-on acquisitions.

• Management remains confident in delivering superior care and long-term value, with ongoing investments in technology and clinical innovation.