Apollo Hospitals (APOLLOHOSP) Q2 2026 earnings summary

Executive summary

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

• All core divisions—Healthcare Services, Apollo HealthCo/Digital Health & Pharmacy Distribution, and AHLL/Diagnostics & Retail Health—delivered double-digit revenue growth despite seasonal impacts.

• H1 FY26 consolidated revenue was INR 12,146 crore (₹121,456 million), up 14% year-over-year, with EBITDA up 20% and PAT up 33%.

• Expansion projects include commissioning six new hospitals by end of next fiscal and adding 4,400 capacity beds (~3,600 census beds) over five years.

• Clinical milestones include over 51 lakh surgeries, 27,000 organ transplants, and pioneering robotic telesurgery.

Financial highlights

• Q2 FY26 consolidated revenue: INR 6,304 crore (₹63,035 million, +13% YoY); EBITDA: INR 941 crore (₹9,412 million, +15% YoY); PAT: INR 477 crore (₹4,772 million, +26% YoY).

• H1 FY26 consolidated revenue: INR 12,146 crore (₹121,456 million, +14% YoY); EBITDA: INR 1,793 crore (₹17,931 million, +20% YoY); PAT: INR 910 crore (₹9,100 million, +33% YoY).

• Healthcare Services Q2 revenue: INR 3,169 crore (₹31,690 million, +9% YoY); EBITDA margin: 24.6%.

• Apollo HealthCo/Digital Health & Pharmacy Distribution Q2 revenue: INR 2,661 crore (₹26,606 million, +17% YoY); EBITDA: INR 110 crore; GMV at INR 723 crore (+16% YoY); 44 million users.

• AHLL/Diagnostics & Retail Health Q2 revenue: INR 474 crore (₹4,739 million, +17% YoY); EBITDA: INR 50 crore (21% YoY); margin at 10.6%.

Outlook and guidance

• Organic growth in healthcare services expected to return to 13% in existing beds, with an additional 5% from new beds over the next two years.

• Six new hospitals to be fully operational by end of next fiscal, with ramp-up plans staggered across Q3, Q4, and Q1.

• Targeting annualized revenue run rate of ₹250 billion by Q4FY27 with 7% EBITDA margin.

• Digital business cost structure has stabilized, with further synergies expected post-integration.

• Management plans to deepen technology partnerships and expand AI capabilities.