PRESS RELEASE

Q2 FY22 Consolidated operating income at Rs 9,403 mn (Y-o-Y of 56.5%) with EBITDA* of Rs 1,810 mn H1 FY22 Consolidated operating income at Rs 18,001 mn (Y-o-Y of 81.1%) with EBITDA* of Rs 3,214 mn

Bengaluru, India, November 10th, 2021 - Narayana Hrudayalaya Limited, a leading healthcare service provider in India, today announced its financial results for the second quarter (Q2 FY22) ended September 30th, 2021.

Financial Highlights for the Quarter (Q2 FY22) - Prepared in accordance with Ind AS ('Indian Accounting Standards')

  • Consolidated total operating income was Rs 9,403 mn for Q2 FY22 as compared to Rs 6,007 mn in the corresponding period of the previous year, reflecting an increase of 56.5%
  • Consolidated EBITDA* stood at Rs 1,810 mn, reflecting a margin of 19.3% as against Rs 372 mn in Q2 FY21
  • Consolidated PAT* stood at Rs 994 mn, reflecting a margin of 10.6% as compared to loss of Rs 34 mn in Q2 FY 21

Financial Highlights for the Six Months (H1 FY22)

  • Consolidated total operating income was Rs 18,001 mn for H1 FY22 as compared to Rs 9,942 mn in H1 FY 21
  • Consolidated EBITDA* of Rs 3,214 mn for H1 FY22 as against loss of Rs 492 mn in H1 FY21
  • Consolidated PAT* stood at Rs 1,756 mn, reflecting a margin of 9.8% as compared to loss of Rs 1,232 mn in H1 FY 21
  • This is as per the new accounting treatment for leases per IND AS 116 effective 1st April 2019 which resulted in Rs 144 mn increase in EBITDA and decrease of Rs 5 mn in PAT for Q2 FY 22 and Rs 282 mn increase in EBITDA and decrease of Rs 9 mn in PAT for H1 FY22 on a like-to-like basis (pre-IND AS 116)

As on September 30th, 2021, the Total Borrowings less Cash & Bank Balance and Current Investments was Rs 2,412 mn representing a net debt to equity ratio of 0.19. (Out of which, borrowings worth US$ 35.5 mn is foreign currency denominated).

Other Highlights during the Quarter

  • MSMC, Bengaluru performed a rare procedure of 'Selective Dorsal Rhizotomy' on a child with spasticity
  • Narayana Superspeciality Hospital, Howrah successfully completed one of the most challenging procedure of Arterial Switch + VSD closure + Aortic Arch Repair under selective cerebral perfusion on a 1-month-old patient diagnosed with Taussig Bing Anomaly with hypoplastic arch
  • Narayana Superspeciality Hospital, Gurugram performed a highly complex minimally invasive mitral valve replacement with tricuspid valve repair by right anterior mini thoracotomy of 2.5 inches
  • Narayana Multispeciality Hospital, Guwahati treated a complex case of acute pancreatitis with GI bleed and shock. After stabilisation, patient underwent CECT abdomen which showed gastroduodenal artery (GDA) pseudoaneurysm which was successfully managed by DSA+ Angio - Embolisation

Management Comment

Commenting on the performance, Dr. Emmanuel Rupert, Managing Director and Group CEO, Narayana Hrudayalaya Limited, said "With the effects of the second wave of the pandemic subsiding, our Indian operations staged a decent recovery during the quarter gone by, after the significant impact as observed in Q1 FY 22. With new Covid-19cases waning across the country, we remain encouraged by the business momentum revival across the network. However, the profitability of our flagship Health City, Bengaluru centres remain affected, as compared to the pre-Covidtimes, given the erosion in international patient mix as well as high-endcardiac sciences based elective work. Overall, we are pleased to report record profitability during the period on the back of recovery in Indian operations aided by our international ventures at Cayman Islands and hospital project management at St. Lucia.

Looking ahead, with the vaccination coverage expanding by the day, we are hopeful that business activity will resume its pre-covid growth trajectory. At the same time, we remain vigilant over the developments taking place globally with regards any fresh wave of infection to prepare ourselves accordingly in case of any further disruptions."

About Narayana Hrudayalaya Limited

Founded in 2000 by Dr. Devi Prasad Shetty and headquartered in Bengaluru, Narayana Hrudayalaya Limited is one of the leading healthcare service providers in India, operating a chain of multispecialty, tertiary and primary healthcare facilities. The Company has a network of 21 hospitals and 4 heart centres across India along with overseas presence across a hospital at Cayman Islands, a heart centre at Chittagong, Bangladesh and a managed hospital at St. Lucia with over 6,100 operational beds across all its centres and potential to reach a capacity of over 6,800 beds.

For further details, please contact us at investorrelations@narayanahealth.org

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Narayana Hrudayalaya Ltd. published this content on 10 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 10 November 2021 18:08:08 UTC.