Nephrocare Health Services Announces Financial Results for Q4 and FY26, Reporting 32.2% Revenue Growth

Nephrocare Health Services Announces Financial Results for Q4 and FY26, Reporting 32.2% Revenue Growth​

Nephrocare Health Services Limited, which operates as Asia's largest dialysis network under the brand 'NephroPlus', announced its financial results for the fourth quarter and full year ended March 31, 2026. The company reported significant year-over-year growth across major operational and financial metrics.

Consolidated Financial Performance​

The financial results for the consolidated segment for Q4 and Full Year 2026 illustrate robust growth across the board.


*EBITDA has been adjusted for ESOP expenses; PAT has been adjusted for share of loss from JV and ESOP expenses.

Operational Growth Metrics​

Operationally, Nephrocare reported increased treatment volumes and revenue per treatment.


The company also noted the growth in guest numbers for both Q4 and the full year period, reporting a growth of 11.8% year over year.

Key Performance Highlights​

Nephrocare’s performance for the fiscal year ended March 31, 2026, was highlighted by several key increases:

• Revenue Growth: FY26 revenue reached ₹ 998.8 crore, marking a 32.2% increase year-over-year. Quarterly revenue for Q4 FY26 grew 21.2% year-over-year. This growth was attributed to a 16.6% year-over-year rise in treatment volumes for the full year (and 15.2% for Q4 FY26).
• International Shift: The company observed a favorable mix shift towards international markets, where revenue per treatment is higher and beneficial to Return on Capital Employed (ROCE). International revenue contribution increased from 31.8% in FY25 to 41.8% in FY26.
• Profitability: Adjusted EBITDA for FY26 was ₹ 238.1 crore, a 37.6% increase year-over-year.
• Core Drivers: Sustained growth in treatments, coupled with increasing contribution from higher-priced international markets, supported the improved profitability.

Management Commentary​

Commenting on the results, Mr. Vikram Vuppala, Chairman & MD, emphasized the growing global burden of Diabetes and Hypertension, which are key risk factors for Chronic Kidney Disease (CKD). He stated that NephroPlus is positioned to scale well over the next several years as access to dialysis increases globally. He highlighted that the focus remains on excellent clinical outcomes, improving operational efficiency, and leveraging digital innovation, citing the Reformmed.AI application as proof of scalability across its network.

Mr. Rohit Singh, Group Chief Executive Officer, noted that FY26 was pivotal as the company transitioned into a publicly listed entity while maintaining strong performance. He pointed out that the 32.2% revenue growth and 16.6% increase in treatments reflected both strong demand for high-quality dialysis care and the strength of the company's execution. He reaffirmed the focus on deepening the India presence, scaling international businesses, and exploring new geographies in FY27.

Mr. Prashant Goenka, Chief Financial Officer, observed that the NephroPlus performance demonstrates "balanced and disciplined growth." He stated that the improvement in profitability was supported by the growing international contribution, alongside discipline in costs and capital efficiency in the Indian business. The healthy ROCE and improving cash generation provide flexibility to pursue opportunities across Indian and international markets as they move into FY27.

NEPHROPLUS Stock Price Movement​

On Tuesday, Nephrocare Health Services Limited shares edged higher, gaining 0.82% and settling at ₹649.70. The stock traded on robust buying interest, with 258,713 shares passing through the market, keeping the equity strong relative to its 52-week high of ₹663.9.