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Revenue
₹5,842 Cr
verified against source
Revenue YoY
15%
reported change
EBITDA
₹852 Cr
latest reported figure
Source
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record provenance
Actual signal trajectory
Where this quarter sits.
Quarter read
What the record says.
Apollo Hospitals delivered a strong Q1 FY26 with consolidated revenue of INR 5,842 crore (+15% YoY) and PAT of INR 433 crore (+42% YoY). Healthcare Services revenue grew 11% to INR 2,935 crore, with EBITDA margins at 24.5% (+88bps YoY). Apollo HealthCo revenue rose 19% to INR 2,472 crore, driven by pharmacy distribution and narrowing digital losses (EBITDA loss of INR 73 crore vs INR 116 crore last year). The company added 700 beds in the pipeline and expects to operationalize them in FY26. Management guided for 13-14% organic hospital growth and Apollo 24/7 breakeven by Q4 FY26. Risk: New hospital ramp-up may cause a ~100bps margin dip in the near term.
Colored figures show movement against the previous available record.
Guidance to track
- Digital business expected to achieve EBITDA breakeven by end of fiscal year, with GMV run-rate of INR 800-900 crore.
- New hospitals in Delhi, Pune, Bangalore, and Kolkata to add 700 beds during FY26.
- Combined entity targeting INR 25,000 crore revenue with 7% EBITDA margin by end of FY27.
- Existing hospital margins expected to expand to 25%+ before new bed dilution of ~100bps.
Risks flagged
- Management expects ~100bps margin dip from new hospitals, with total EBITDA impact of INR 100-150 crore over two years.
- Bangladesh patient flow remains below pre-crisis levels; recovery timeline is uncertain despite new markets like Iraq.
- Aggressive entry of quick commerce players into prescription medicines could pressure margins and customer acquisition costs.
Key quotes
- We are well on track to achieve breakeven in the digital business by the end of this fiscal.
- Incremental players coming in with aggressive strategies, in my mind, will expand the digital market and give a greater amount of trials.
- We have a plan to move it to 25%. As we look at the losses from new hospitals, total impact over a two-year period could maximum be around INR 150 crore.
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