APOLLOHOSP

Apollo Hospitals Enterprise share price & financials

Price
₹8,489.5
Market cap
₹1.3L Cr
Sector
Healthcare
Calls analysed
3
Latest concall · Q3 FY26 · call held 11 Feb 2026

Apollo Hospitals Q3 FY26

Consolidated Revenue ₹6,477 cr +17%Consolidated EBITDA ₹965 cr +27%Consolidated PAT ₹502 cr +35%

What went well

  • Consolidated revenue grew by 17% year-on-year to INR 6,477 crore.
  • Consolidated EBITDA registered a robust growth of 27% year-on-year to INR 965 crore.
  • Consolidated PAT grew 35% year-on-year to INR 502 crore.

What to watch

  • Digital business cash losses were INR 29 crore, and cash EBITDA breakeven is pushed out by one quarter to Q1 FY27 due to an INR 17 crore insurance revenue recognition mismatch.
  • New hospital operationalization is expected to incur INR 150 crore in losses for the next year (FY27).
Read the full call →

What Apollo Hospitals Enterprise Limited does

Apollo Hospitals Enterprise is India's largest pan-India integrated healthcare provider, operating a network of multi-specialty hospitals alongside pharmacy distribution, diagnostics, retail-health clinics and a digital health platform. It earns from three verticals: Healthcare Services (running owned and managed hospitals), Diagnostics & Retail Health under Apollo Health & Lifestyle (AHLL), and Digital Health & Pharmacy Distribution under Apollo HealthCo (offline pharmacy distribution plus the Apollo 24/7 app). Its footprint spans hospitals, diagnostic centres, clinics and dialysis and dental units across the country.

Segments

  • Healthcare Services
  • Diagnostics & Retail Health (AHLL)
  • Digital Health & Pharmacy Distribution (Apollo HealthCo)
Operational hospitals
78
Market position
Largest pan-India hospital chain
Operational census beds
9,620 (10,970 capacity)
Hospital ownership mix
49 owned, 6 managed, 23 day-surgery & Cradle units
Apollo Diagnostics centres
2,501
Apollo clinics
316
Founded 1979Headquarters Chennai, Tamil Nadu, India Company website

Guidance record · Q3 FY26

what the last two calls moved 7 tracked 1 delivered 1 missed 5 open
  • Healthcare Services EBITDA Margin delivered said Q3 FY25 Promised: Net-net, we should be at around 24% next year. Q3 FY26: Achieved 24.8%, targeting further 100 bps expansion
  • Group-wide Occupancy Rate missed said Q3 FY25 Promised: Improve to 72%, 73% before the new beds open out. Q3 FY26: Actual dropped to 67%
  • Apollo 24/7 Digital Cash EBITDA Breakeven delayed said Q3 FY25 Promised: Break even by end of Q2 of the next year [FY26] or positively in Q3 [FY26] Q3 FY26: Pushed out by one quarter to Q1 FY27 due to INR 17 cr insurance mismatch

All 7 tracked — every revision, and every one management stopped mentioning.

Open the guidance ledger

Quarterly results

Q1 FY27: revenue up 20.6%, net profit up 38.3% against the same quarter last year.

₹ Cr · quarterly
Line itemQ2 FY25Q3 FY25Q4 FY25Q1 FY26Q2 FY26Q3 FY26Q4 FY26Q1 FY27
Revenue5,589 5,527 5,592 5,842 6,304 +13%6,477 +17%6,606 +18%7,044 +21%
EBITDA816 762 770 852 941 +15%965 +27%1,011 +31%1,092 +28%
Net profit396 379 414 441 494 +25%516 +36%551 +33%610 +38%
How to read this

₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.

Performance +11.4% 1Y

₹7.0k₹7.5k₹8.0k₹8.5k₹9.0kSept 25Oct 25Dec 25Jan 26Mar 26Apr 26Jun 26Jul 26Sept 26Q2 FY26 — 7 Nov 2025Q3 FY26 — 11 Feb 2026

1Y: ₹7,929 on 10 Sept 2025 → ₹8,836. High ₹9,050 (4 Aug 2026), low ₹6,793.5 (27 Jan 2026).

How the price took the results

close before → close after

Q3 FY26
+4.0%
11 Feb
Q2 FY26
−1.8%
7 Nov

The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.

Financials, as filed

Revenue grew 14.9% a year over 3 years, FY23 to FY26. Operating margin widened to 14.9%.

Year endingFY23FY24FY25FY26
Revenue₹16.6k Cr₹19.1k Cr₹21.8k Cr₹25.2k Cr
Operating profit₹2.0k Cr₹2.4k Cr₹3.0k Cr₹3.8k Cr
Operating margin12.1%12.5%13.9%14.9%
Interest₹381 Cr₹449 Cr₹459 Cr₹450 Cr
Depreciation₹615 Cr₹687 Cr₹757 Cr₹876 Cr
Net profit₹845 Cr₹934 Cr₹1.5k Cr₹2.0k Cr
Net margin5.1%4.9%6.9%7.9%
Cash from operations₹1.4k Cr₹1.9k Cr₹2.1k Cr₹2.9k Cr
Free cash flow₹252 Cr₹785 Cr₹439 Cr₹925 Cr
ROCE14.0%15.0%17.0%17.0%
How to read this

From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.

Balance sheet

Year endingFY21FY22FY23FY24FY25FY26
Equity capital₹72 Cr₹72 Cr₹72 Cr₹72 Cr₹72 Cr₹72 Cr
Reserves₹4.5k Cr₹5.6k Cr₹6.1k Cr₹6.9k Cr₹9.0k Cr₹9.4k Cr
Borrowings₹4.2k Cr₹4.1k Cr₹4.3k Cr₹5.3k Cr₹8.0k Cr₹8.5k Cr
Other liabilities₹2.6k Cr₹3.6k Cr₹3.9k Cr₹4.5k Cr₹4.9k Cr₹4.2k Cr
Total liabilities₹11.4k Cr₹13.3k Cr₹14.4k Cr₹16.7k Cr₹21.9k Cr₹22.2k Cr
Fixed assets₹6.8k Cr₹8.3k Cr₹8.5k Cr₹9.7k Cr₹11.3k Cr₹12.3k Cr
Capital work in progress₹234 Cr₹46 Cr₹610 Cr₹873 Cr₹1.0k Cr₹1.0k Cr
Investments₹1.3k Cr₹816 Cr₹574 Cr₹986 Cr₹3.0k Cr₹2.2k Cr
Other assets₹3.0k Cr₹4.1k Cr₹4.7k Cr₹5.2k Cr₹6.7k Cr₹6.7k Cr
Total assets₹11.4k Cr₹13.3k Cr₹14.4k Cr₹16.7k Cr₹21.9k Cr₹22.2k Cr
How to read this

As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.

Who owns it

As disclosed at Jun 2026

Since Jun 2025, DIIs added +2.38 pp while FIIs trimmed −2.00 pp. The shareholder count grew 24% to 1,74,281.

Promoters
28.0%
FIIs
41.5%
DIIs
23.7%
Government
0.2%
Public
6.5%

Since Jun 2025

  • DIIs +2.38 pp
  • FIIs −2.00 pp
  • Promoters −1.32 pp

How it drifted, 12 quarters

Over this window DIIs went from 18.6% to 23.7% — +5.1 pp.

Sep '23Dec '24Jun '26

Ownership split by quarter, oldest first. Sep '23: Promoters 29.3%, FIIs 46.1%, DIIs 18.6%, Government 0.2%, Public 5.7%.Dec '23: Promoters 29.3%, FIIs 46.3%, DIIs 18.9%, Government 0.2%, Public 5.3%.Mar '24: Promoters 29.3%, FIIs 45.6%, DIIs 19.6%, Government 0.2%, Public 5.3%.Jun '24: Promoters 29.3%, FIIs 43.9%, DIIs 21.1%, Government 0.2%, Public 5.4%.Sep '24: Promoters 29.3%, FIIs 45.4%, DIIs 19.9%, Government 0.2%, Public 5.1%.Dec '24: Promoters 29.3%, FIIs 45.3%, DIIs 20.0%, Government 0.2%, Public 5.2%.Mar '25: Promoters 29.3%, FIIs 42.7%, DIIs 22.3%, Government 0.2%, Public 5.4%.Jun '25: Promoters 29.3%, FIIs 43.5%, DIIs 21.3%, Government 0.2%, Public 5.6%.Sep '25: Promoters 28.0%, FIIs 44.2%, DIIs 21.1%, Government 0.2%, Public 6.4%.Dec '25: Promoters 28.0%, FIIs 43.5%, DIIs 21.5%, Government 0.2%, Public 6.7%.Mar '26: Promoters 28.0%, FIIs 42.6%, DIIs 22.8%, Government 0.2%, Public 6.4%.Jun '26: Promoters 28.0%, FIIs 41.5%, DIIs 23.7%, Government 0.2%, Public 6.5%.

Who was buying across the market this quarter →

Who bought this quarter

since Mar 2026

Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.

The same filing shows 5 holders trimming and 0 off the list — both are in the register beside this.

Who is on the register

Named in the Jun 2026 filing

Every holder of Apollo Hospitals Enterprise Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.

HolderStakeChange
M/s. PCR Investments Ltd 18.93%unchanged
SBI Nifty 50 ETF Mutual fund2.32%+0.46 pp
Ms. Suneeta Reddy 2.04%unchanged
Life Insurance Corporation Of India Insurer1.97%+0.31 pp
Axis Mutual Fund Trustee Ltd. Mutual fund1.79%−0.07 pp
Ms. Sangita Reddy 1.69%unchanged
Government Pension Fund Global Sovereign1.64%unchanged
Ms. Shobana Kamineni 1.56%unchanged
Mirae Asset ELSS Tax Saver Fund Mutual fund1.50%−0.31 pp
Aditya Birla Sun Life Trustee Private Limited - 2 Mutual fund1.39%−0.09 pp
Employees Provident Fund Board - Internalmanaged 1 Pension / PF1.39%newly disclosed
ICICI Prudential Balanced Advantage Fund Mutual fund1.31%unchanged

A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.

Mutual funds in APOLLOHOSP

Filings to Aug 2026

1 new, 13 added, 12 trimmed, 1 sold out — net +1.06 L shares (+1.7%).

Held by funds
₹5.7k Cr
41 schemes
Biggest holder
SBI Nifty 50 ETF
₹1.8k Cr · 0.8% of that fund
SchemeHoldingLast month
SBI Nifty 50 ETF SBI Mutual Fund₹1.8k Cr+0.10 L
HDFC Flexi Cap Fund HDFC Mutual Fund₹649 Crheld
Nippon India ETF Nifty 50 BeES Nippon India Mutual Fund₹557 Cr+0.13 L
SBI Flexicap Fund SBI Mutual Fund₹503 Crheld
Nippon India Pharma Fund Nippon India Mutual Fund₹488 Crheld
SBI Healthcare Opportunities Fund SBI Mutual Fund₹285 Cr+0.20 L
HDFC ELSS Tax saver HDFC Mutual Fund₹246 Crheld
SBI Arbitrage Fund SBI Mutual Fund₹183 Cr+0.07 L

HDFC, Nippon India and SBI schemes, from their monthly disclosures. Changes are counted in shares, so a price move never looks like buying or selling.

Mutual funds Aug 2026

13 added, 12 trimmed — net +1.06 L shares (+1.7%)

Funds are sitting on
+45%
vs est. average cost
Held by funds
₹5.7k Cr
41 schemes · ≈ 4.3% of the company
Biggest holder
SBI Nifty 50 ETF
₹1.8k Cr · 0.8% of that fund
Longest holder
Nippon India ETF Nifty India Consumption
12y 5m · since Apr '14

Shares held by these funds −1%

Aug '23 63.87 L shares Jul '26

What the price assumes

Fair

To justify its price of ₹8836, this stock must grow earnings at 34% every year for 7 years. Our analysis caps realistic growth at ~33%. At that growth it is worth ₹8427 — downside of 5%.

Growth the price implies
34.3% a year
for 7 years, fading to 4%
It has actually compounded at
33.3% a year
net profit, FY23–FY26 · EPS 33.3%
The gap
0.0 pp
-5% downside if it only repeats history
Price today ₹8,836 Value at the reference growth ₹8,427.38

Change the assumptions yourself →

All earnings calls (3)

Read the Q3 FY26 call →

Learn to analyse Apollo Hospitals Enterprise Limited

Guides on how to read this kind of business and the numbers that matter.